uneventful in terms of price for a while. multiple months of consolidation. so we'll see if there's a spark here tomorrow. >> but microsoft, you have to have a very, very big beat to get the immediate share price reaction we finished the day down slightly down on the major averages more analysis coming up next on "fast money." >> i'm melissa lee tonight's trader lineup, guy adami, and karen finerman and jeff mills we're tracking the action of apple, facebook, ford and qualcomm and just kicking off. we're bring you the trades straight away and powell stays put. did the fed give another all clear to the market. no jokes here, but mark cuban said to ellen degeneres that sent dogecoin to the moon. we have the two biggest companies reporting earnings,

apple and facebook those conference calls are now under way. full team coverage standing by to break it down julia boorstin is on facebook. so josh? >> well, remember apple was up 10% on track for the biggest month. as for the results easily besting the expectations in the bottom and the top segments, iphone, $47.94 billion, services $16.9 billion. mac $9.1 billion it's closer to $6.9 billion and ipad $7.8 billion. and wearables, $7.84 billion the board authorizing an increase of $90 billion to the existing share repurchase program. the company does not provide formal guidance at this time i had a chance to speak with tim cook about the quarter on the iphone, he said that the iphone grew 66%

it was driven cook said by strong demand from the iphone 12 family the iphone 12 is the most popular iphone but we had extremely strong results in iphone 12 pro and promac the carrier deals are super charging the demand in the u.s. and it's highly competitive marketplace. you see iphone doing extremely well around the world. to that end, cook also talk node about the trends and themes he's seeing in china, we're seeing strength across the product line but mac, ipad, wearables and home accessories did well. the conference call is kicking off right now, melissa, we'll bring you the headlines as they come. >> thank you very much, josh lipton well, the stock is up in after hours and for the year the stock is up about 4% tim, is this going to be enough to prove to investors that the stock should go higher >> i love the service revenues

and i love the places that we were concerned about, or there could be concern if it's china you have the multiple on the stock that's difficult at this point is the big issue i actually like it relative to the charts it's had a chance to test down it put that base in somewhere in the low 120s i think, you know, you have a momentum dynamic relative to other names and apple has been a bit of a laggard so these were extraordinary numbers. the international sales, 67% the services numbers and the china numbers and the fact of the matter is the multiple reflects a lot of great news i like apple here. i'm an investor in apple here. i wouldn't trade these numbers >> every potential flash point services, china, they all came in strong at this point to put this in perspective, this is a $2 trillion market cap company that just grew revenues about 54%. extraordinary is almost not the word, guy adami. but still the stock is up 3%

after hours after an extraordinary quarter and going into the earnings call, it was basically flat for the year. so where is the issue? is it valuation at this point even with these numbers? >> should be higher. i mean, with this quarter, it should be higher services now is holding steady at 19% of revenue. we like to see it in the low 20s in terms of overall revenue, i get it but all of the rest of the numbers are ridiculous the stock should be testing in my opinion the all-time high i think on january 26th or thereabouts which is 145 and change we're not. i will give them now that we're two quarters in, give them $6 a share and you're looking a at a stock trading slightly above so i hear everything that tim is saying this is the test, does it take out the previous all-time high from january or do we languish here i think we'll know more in 15 or 20 minutes >> up 3.5% right now karen what did you make of the

quarter? >> so the quarter was obviously outstanding. really the hardware was the really highlight and that's great. and that's part of the story for sure the only problem about the hardware become the real highlight is that the margins on the hardware is different than the margins on the software. it went to 30.7, which is fantastic. i really like that as guy said the only thing if you had to pick something, i'd rather see growth maybe in -- more growth in services but it was outstanding. a lot of naysayers about the story and i believe the whole 5g story is very much intact. it aim cheap that's for sure but it shouldn't be. this is a premiere company so i'm long, i'm staying long. >> what do you want to hear on the conference call, jeff? >> yeah, i mean, what more can you hear i mean i think across the board it was a great quarter but i do want to hear them address things like margins are

important. i want to hear a little bit more about the chip shortage, whether that's impacting things. whether they're seeing key inflation in certain materials but across the board, great quarter. it's hard to really find anything to nitpick at as everyone else has said, but again, this is a stock that maybe it does trade sideways for a little while over the last three years this is a stock that's outperformed the s&p 500 by 170%. even if we have lost a little bit of momentum here after testing the 200 day, so what, as tim said you're an investor in this country in the long run it's unrivaled across the board, whether you talk about the ecosystem, the wearable services and even in iphone you can see the growth going forward. there's a billion active iphones throughout the world that's 15% of the population so thinking down the road to india and africa, they can grow

it outside of wearables. >> sometimes flat isn't bad particularly when you have a company increasing their share buy back by $90 billion and a massive cash position so you have that going for it, guy. but in the environment where interest rates may go higher, is flat really flat in apple's case >> that's a concern. i'm in the camp that interest rates are going higher so i guess to your point, if you think that's the case, maybe you do fade the stock here i don't necessarily think it's that big of a head wind for apple. but that's just my view. i think clearly it's a head wind for other higher valuation tech names and what people are concerned about, valuation to karen's point, you want to see a little bit of a better mix but three's nitpicky i think -- we'll see during this show if the conference call get

us there. >> let's turn to facebook. the company's conference call is under way. julia has got the details. >> well, melissa, facebook beat expectations in the top and bottom line with its user numbers growing, though coming in just a hair short of expectations but the stock is moving higher on the company's guidance saying they expect second quarter revenue growth to remain stable or modestly accelerate relative to first quarter's growth rate which -- relative to last year which had weaker comparisons facebook did say they expect year over year growth rates to significantly decelerate sequentially as they lap periods of strong growth in the second half of the year now, facebook cfo david wehner said we can expect increased head winds in 2021 from regulatory and platform changes, notably the recently launched ios 14.5 update which we begin to have an impact in the second quarter and this is factored into the outlook mark zuckerberg teased ahead in

his quote in the earnings release, we will continue to invest to aggressively to deliver new and meaningful experiences for years to come including a newer areas like augmented and virtual reality, commerce and the creator economy. i'm going to jump on to the call, melissa, and i'll be back with more. >> julia, thank you very much. we heard snippets of the ad market from various other reports that reported, like alphabet and snap. but what stood out to me, they're saying that ad growth will continue to be primarily driven by price for the rest of 2021 by price so they're able to raise prices and continue to do so for the rest of the year. >> right that language was really impressive i think, you know, they talked about this quarter, 30% of the revenue beat was price 12% was in the number of ads going up so i mean, that -- the momentum

isn't over that's the point you're getting at which is really impressive. they also talked a little bit about expenses being a tad higher i think they usually guide expenses a tad higher and capex they got it a tad lower so that would leave a gigantic free cash flow number. up like apple, this stock is not expect and it's not expensive when you back out the cash load. 43% operating margin, that is as high as any quarter with the exception of fourth quarter which is their highest revenue that's a staggering number so thank you, facebook i'm staying long. >> jeff, what did you make of this quarter >> yeah. it's strong. and 300 has been the level that i have been keying off of and now after hours you're well above that you know, facebook is a stock and apple is similar too i have been talking about the cyclical rotation, growth into

value. but it's really a rotation into fundamentals growth isn't working, it's the more reasonably valued companies like facebook that's where you want to be in growth because in the diversified portfolio you're going to have a little bit of both i think facebook is a good, defensive stock and you have to continue to differentiate between companies that aren't making money and have a lot of debt and companies like facebook and to karen's point i think it's probably the most undervalued of the f.a.n.g. stocks and they beat on digital ads i think the issues with ios are known and you can't underestimate the company of this and the mode that it drives around that business i think the stuff about ar and vr is very interesting for the long term. you know, we have talked about the met averse and the universes and i think they're well positioned so i'm interested in that story longer term. >> to think that ios and the

potential impact is already factored into the guidance which is pretty rosy that's astonishes as well. tim, what do you think of facebook and the valuation, where should it be where does it deserve to be based on what we heard in the quarter? >> well, i'm listening to what everyone is saying and congratulations to karen, she likes the company and the stock. congrats to guy who says he hates the company and he likes the stock and jeff saying this should be defensive. if you look at the pricing power especially in the ad space, up 30% and you look at the daus, $1.8 billion you understand the might of this country. there's no one that can touch them in this platform. the fact they're getting into shops and so the e-commerce story i think for facebook is one of the next drivers. so look, as someone that's not liked the company or liked the stock, look, i have to acknowledge that the breakout of 305, the deep, deep value

relative to the other mega cap tech peers and even the social -- call it sentiment against facebook and certainly advertisers never ran too far, maybe this is the most defensive of the mega caps. >> think about what has been thrown at facebook in terms of potential regulatory head winds, social unrest, et cetera the list goes on and on and on and on and yet, the number of ads have increased the price per ad has increased this really proves it's the only game in town, dare i say, when it comes to advertising. >> yeah. no, dare you say that. i'll say to quote -- are you a fan of poetry, mel, i think you are. i think you like poetry. thomas wyatt the great poet, they flee from me. i talk about that from time to time on the show no one is fleeing from facebook. we have said this all along, i hate everything -- i can't even

tell you the fact that people can't spell vaccine on facebook because of the facebook police, everything is reprehensible to me other than the stock and now with this quarter, these are numbers, operating numbers north of billions of dollars and i'll let tim do the arpu numbers. it's a $400 stock and i think you're going to start to see analysts raise price targets over the next week or so. >> let's get more reaction, and bring in "fast money" analyst. does this prove it should have a rerating to some effect? >> maybe in the near term i think it does. i agree with guy, don't like the company, i like the stock. that's over the next year because you have some easy comps the next quarter and -- you know, the unprecedented spike

we're seeing consumer demand facebook is going to capture a lot of that. i think the question comes down to innovation. i think jeff was talking about the met averse i don't want to spend time in the metaverse, but this is a fundamental shift in how we'll communicate with each other. i think facebook and apple both of those have good pool position in that. recall that facebook has th ththese facebook glasses they said they'll make, they haven't given a time frame we think it's 2025 to answer your question about facebook and what to do with all of this, the near term is going to be really strong. i think outside of this year it still begs a question around innovation, perhaps it is around the metaverse and augmented and virtual reality. we'll hear a lot more about that i think i would view that there's a better way to address that investment opportunity through apple but undoubtedly i think facebook is going to get some benefit to that. >> imagine if you had a facebook that operated for the metaverse

and you sold ads in the metaverse. it is mind blowing what you can think of facebook could do operating in the metaverse for apple, gene, what do you think of the quarter what does tim cook need to say in order to get investors to say you know what, it deserves the valuation and deserves even a richer one. >> yeah, i have a different view than the traders on the valuation. i actually think it's kind of more at the lower end. i understand that facebook is lower, but still, this is -- when you look at transformative tech and i put that in the companies that are really going to change the world again, this is about as attractive as a valuation as you can get so to your question about what can tim cook say, there's very little because he's not going to talk about the substance a about how some incredible growth years are still ahead of this company. everything from hardware as a service. we talk about this, we refer to it as a 360 bundle to be able to

rent a mac, an iphone, your services all together. we think that's coming in if next couple of years and we'll hear more about the mixed reality, the goggles that's part of the metaverse that's a big opportunity and then remains what they do around automotive. that's depending on how you look at the dressable market, so i would say this let's just take a quick step back this was a good quarter. it was a great quarter i don't know what the adjective is it's as much upside as i have seen in a decade from apple. what i can say, the naysayers will say it's not sustainable. understand that, but that has been a well-travelled theme around this. and apple year in, year out delivers i think they'll continue i'll leave with this thought, i have a prediction that apple is the top-performing faang for 2021 i'm well behind google, apple is up fractionally. i continue to stand behind that. i think they'll get credit for it and as they start to step

into some of the new growth curves >> all right gene, great to have you with us. this time next year, it's another game we'll look back and say that was apple was the top performing big tech stock of 2021 where do you stand on that statement? >> i would go -- i mean, listen, gene's -- he's a master at this. if you want me to rank him, i think google is the top followers, followed by apple and facebook that's the way i would play that horse race. >> one question you're looking to have answered on the facebook call, karen. >> oh, i guess it would be about future commerce would probably be number one. i want to hear that as a growth driver >> all right we'll keep you posted on the conference calls meantime, we have another earnings alert, ford on the

move, and the company's ceo sat down with jim cramer. and later who let the dog e out? tas d ting you all ofhe deilana lot more when "fast money" returns tailor made or one size fits all? made to order or ready to go? with a hybrid, you don't have to choose. that's why insurers are going hybrid with ibm. with watson on a hybrid cloud they can use ai to help predict client needs and get the data they need to quickly design coverage for each one. businesses that want personalization and speed are going with a smarter hybrid cloud using the technology and expertise of ibm. nice bumping into you.

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welcome back to "fast money. we have an earnings alert on ford, shares are moving lower in the after hours and the company's call is under way. phil lebeau? >> melissa, those shares are moving lower entirely because of the guidance and what they're saying about the chip impact let me quickly give you the numbers for first quarter because it was a really sensational quarter in terms of top and bottom line. they earned 89 cents a share the estimate was for 21 cents a share. automotive revenue coming in at $33.5 billion but the guide sense reason that the shares are moving lower and all about what they're saying in terms of the impact of the chip shortage. here are the numbers in terms of the updated guidance for production they plan to lose 50%, half of their q2 production because they don't have enough of the

semiconductor chips. they will lose 10% of their second half production total production lost, 1.1 million vehicles those are vehicles they planned on building this year they will not be building and they have 22,000 vehicles that they have built that are awaiting to have chips installed. so that's what they're sitting on right now just a few minutes ago, i had a chance to talk with ford's cfo he said the total impact of this is $2.5 billion to the company's bottom line this year. that, by the way, falls within the guidance that they gave just a couple of months ago he also believes that the worst of the chip impact will be in the second quarter here is jim farley, ceo of ford, talking to jim cramer and saying why he believes as bad as things are, it's showing ford's resilience. >> our business is so much more robust to absorb these kind of body blows we're seeing commodity costs

increase, but we're able to offset them with the actions we're making. >> you can hear more from jim farley that's coming up tonight on "mad money. sitting down with our jim cramer for an extended conversation guys, i will leave you with one statistic. a healthy, normal inventory for an automaker is 65 to 70 days supply guess how much ford's supply is right now? retail supply, 33 days and likely will be moving lower this quarter. that ultimately means, melissa, that not just ford, but the entire industry, prices are going to continue to stay high for the remainder of this year it's just an extremely tight level of inventory and that's not changing any time soon. >> phil, you have to think back to tesla's quarter and how tesla basically found other supplies of chips and avoided the impact of the chip shortage when you see ford losing 1.1 million vehicles to the chip shortage. i mean, it's just staggering the

contrast here. >> one thing -- melissa, one thick to keep in mind. ford was tightly tied in with the chip supplier that had a fire that brought down part of the foundry. they were directly impacted by that that's not to say that they didn't sell to other automakers as well, but that's a big part of why ford is taking a hit. >> phil lebeau, thank you. tim seymour, how should which we of the staggering, number 1.1 million vehicles that will not be built because of the chip shortage? unlike an iphone phone production issue, oh, well, they'll be bought in the next quarter or something like that it's not the same here. >> well, i think it is. >> really? >> i think those cars will be bought here -- yeah, i do. i think if you think about the demand and the trends that we have seen, not only because of where i think the economy is where you have a lot of the age

of existing inventories on the road, where you have the innovation coming out of ford, they announced they're going over the top, over the air, doing software upgrades already on the f-150s and on the mustangs they'll wait and i think they have the money to spend because they have been not spending on other things the most impressive thing to me about ford is that the company is run so much better than ever. ford international is profitable everywhere except for india. that's an enormous achievement for a company hapless in europe and in parts of latin america. i'm excited about ford and ge -- gm, excuse me. and the valuations have to go higher based on the ev businesses and what they're putting on outside of those two american oems. i think that demand is there and they'll wait. >> looks like the biggest hit is

going to be in the second quarter. and then taper off so with that, guy, could this be the time to get in >> yes i mean, kudos to kim and karen and i'm sure jeff as well. you see what's possible for ford, it's a ridiculous quarter, i don't know if tim agrees or disagrees. broke out of the seven-year down trend and traded up and failed on the high. i think you say they'll figure this out tim is right on valuation. i think this sell-off makes sense to buy it here in my opinion. >> all right. >> jim farley, by the way, is a georgetown grad. which is another reason. >> the more you know the calls are under way and we'll bring you the biggest headlines, plus we're watching qualcomm all the details, plus the other big story of the day the fed, we'll tell you what the

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at indeed.com/promo welcome back to "fast money. we are starting to get some early remarks from president biden's delivery to a joint session of congress tonight. let's get to ayman javers for more. >> that's right. he's spending about the $4 trillion of spending proposals and the american jobs plan as he calls it and now released today the american families plan. this is of interest to wall street viewers he says this plan recognizes something i always said. wall street didn't build the country, the middle class built this country and unions built the middle class he's going to talk about the

jobs that are going to be created as a result of his jobs plan the president is going to say this will add millions of jobs and trillions of dollars for years to come. he is going to say these are good-paying jobs that can't be outsourced nearly 90% of the infrastructure jobs don't require a college degree 75% don't require an associate's degree we expect to hear a lot more along those lines and the president is going to lay out both of the big economic plans and is going to talk about his response to covid. of course, foreign policy is going to be in there as well and we expect to hear him talk a little bit about social justice and police reform as well. wide-raging address to the nation tonight here on capitol hill back over to you. >> eamon, thank you, eamon javers for us. when i heard the statement, wall street didn't build this country, the middle class did or unions did, i really thought this underscores his war against

wall street and the war against wealth when in actuality men of great wealth built this country also i mean, you have to look back to some of the biggest philanthropists and they have business magnates of their time and some of the wealthiest people in history built this country too. i'm not trying to knock his point but the middle class maybe deserves some breaks, but i think this is a sort of rosy look at history here, jeff. >> yeah, no doubt about it and i think you have to take a balanced view and politics aside, trying to figure out what this means for the economy and for the fiscal thrusts we are likely to see going forward. i think the bottom line is, a lot of the fiscal stimulus is probably behind us because a lot of this additional spending is going to be have to be financed. i look at what's been proposed it's a big increase in entitlements and if you parse through it, a lot is on finance. if i can give you an example $700 million that the white house expects to save from tougher tax enforcement.

that's not going to be counted as savings so there are elements like that, at least in my opinion means this is going to have been to pared back significantly. even if it was stimulative, i think the spending will have to come down in order to offset it through taxes and other things because it will have to pass through reconciliation. >> should wall street brace itself, karen? should the market brace itself for some sort of impact from the biden administration on whether it comes from higher capital gains taxes or higher corporate taxes? do you think there's a forgone conclusion to some degree? >> i think -- yes, some taxes, some tax increases somewhere i think is a forgone conclusion but a question of how much i think the corporate tax that goes up to 24%, 25% that is maybe palatable. i think he -- i think he's trying to walk a thin line he is trying to appeal to the progressives i think ultimately he's more of a centrist and that he'll come out with something in the middle

and, you know, these are very grandiose plans and as jeff said, i don't think he can pay for them i -- i guess people don't care anymore if you can pay for spending that used to be a thing. apparently that's not a thing anymore. you don't need to pay for it, but i don't think you can convince the senate, particularly to be on board for just giant tax increases across the board. somewhere, yes, but everywhere, no. >> guy, what will you be listening for tonight when he gives hissed a address >> well, i think the rhetoric is great. karen is spot on first of all, i won't be listening, because i'll be watching the yankee game truth be told, if you want to go down the rabbit hole. i know everything that will be said karen mentioned does it matter how things get paid for, you know, stephanie kelton has been talking of this mmt stuff and quite frankly, everything they have been talking about has been coming to fruition so who am i to cast aspersions

how do you pay for it? >> tim >> market's up 28% and 125 days. i think people are underestimating the head winds from higher tax talk and fiscal does not even come close to outweighing the multiplier effect from higher taxes i'm concerned by the progressive talk this is not what was out there on the election trail. coming up, dogecoin goes hollywood. but first, qualcomm shares are ripping higher the numbers when we return and their vets our physical, social, and mental health cared for in one place. ♪ petco. the health and wellness company. i love two things, eating high quality cat food from petco, and the box it's delivered in. same day.

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welcome back to "fast money. we have an earnings alert on qualcomm, shares are ripping higher in the after hours. john >> melissa, a couple of things first, qualcomm on the call saying their auto design win pipeline sat $9 billion and the rollout -- rolloff i should say of huawei is going to benefit them, up to $10 billion by 2022. but also, i want to give you a couple of things that i was told on a call before the call.

particularly about the mix and how they have handled the chip shortage you know, when we see opportunities to improve the mix and allocate the available supply to better products we're doing that you're seeing that in the recent strengths in qct and we expect the actions and the suppliers that occur, but we're working through it but even with the supply constrained environment we're able to get growth in the business follow-upping up on that, we have been able to utilize the stale, take advantage of the multisourcing and two things are happening. i think with all of the crisis we have been -- we have the ability to get supply to fuel the growth this quarter, next quarter, and now we have line of sight to material improvements in our supply toward the end of this calendar year. so you do see the possibility of some of that easing of supply constraints around chips.

>> thanks, jon fortt this comes to pass and qualcomm is an underperformer relative to the semiconductor index year to date guy, what happens with this stock? >> yeah. well, i watched josh brown on the "closing bell" and he said it has to get through 150. technically he's right this 143 1/2 level is where i thought it would hold back in february but it didn't, it traded lower it's cheap they have the revenue growth to support a higher valuation i think it should justify a higher valuation and i think the stock should be testing that recent all-time high i think it's 165 or so so i like the name here but it's disappointed so many people so many times over the last couple of years josh is probably right, needs to get above 150 to break out. >> yeah, tim what do you think >> well, they didn't really have to give this kind of outlook, you know, on supply demand cons constraints. that's bullish and the stock

reflects it. the execution on the management they have been able to get together the supply and the demand dynamics when we know the demand is out there for them the valuation is far from difficult and guy talked about where the stock has been that was a pretty ugly period in february, the stock traded down 29%. for the first three quarters of that month, very, very quickly, trying to recover here on valuation in this space, with that better outlook, i think it's going to continue to go higher. >> all right we're getting some headlines out of the facebook call so let's get back to julia boorstin for that. >> great i know there's interest in the apple operating change system. and they began to roll out the update and low penetration rates right now so they don't have a sense of how many people are opting in or out but they say they continue to be concerned about the impact that the update will have on the small businesses to use their advertising budgets effectively and they say that said, impact

on our own business we think will be manageable they expect it to be a head wind for the remainder of the year but they're making progress on the own solutions to help advertisers navigate these changes. and then just another comment here about the advertising market in general. they say we're seeing very strong overall ad demand which is contributing to a more positive outlook for 2021. back over to you. >> julia, thank you. after-hour sessions high close to it for facebook a fresh record high for facebook karen, what do you make of the comments so far? >> i think, you know, advertising demand is really the most important thing and when you have that kind of revenue growth and you have that operating margin again, you're going to get huge earnings and it's really -- i mean, it's up $20 in the after market. but it's still not crazy expensive at all. >> it's interesting that david wehner was saying there's no real sense of how the ios update will impact facebook because not

many have gone through the upgrade process and opted in or out and yet they factored that into the guidance. should we be more skeptical about what they're saying and more bullish >> three years ago i would have said no, but now absolutely. you don't get fooled by the same thing over and over again and i have gotten myself up to speed i actually say -- look how woke you are. so the short answer is no. i mean, everything about this stock, the foundation of the stock is still in place. all the other things we talk about are seemingly ancillary including when they move themselves to capitol hill or do it over a zoom call. this stock is impervious to everything other than -- i'll say it again, if they somehow fall under the auspices or the eyeballs of esg, that's the existential risk short of that it should be a $400 stock. mark cuban and ellen degeneres chatting about dogecoin

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then you havedogecoin by the weird part it went from being a cryptocurrency joke to becoming a digital currency. at the mavs we sell a lot of merchandise for dogecoin you should look at it for the ellen shop you can sell a whole lot of stuff for dogecoin. >> that was mark cuban talking about dogecoin with ellen degeneres. we heard from elon musk, with a tweet, the doge father, all this sending dogecoin soaring today it's up more than 6,000% this year but still off its all-time highs. we should note that mark cuban said that he thinks that this is a way for people to learn about cryptocurrencies, to learn how the markets move and how to invest he says it's slightly better than a lottery ticket so now

exactly pounding the table here. but at the same time, there are a lot of people who see these celebrities talking about dogecoin, jeff, and they want to buy it i mean, call it the influencer effect on investing today. but this is what is going on. >> yeah. it is. i mean, is it dogecoin, i don't even like saying it and people can't agree on how to say it so i don't know what that says for the legitimacy of it but i have heard a couple of people say this today. that it is actually interesting in that it's somewhat increases the legitimacy of other crypto assets, think of bitcoin and ethereum and it makes them seem like the sleepy, stable areas of crypto so an interesting take in a lot of ways, whether it's gamestop, dogecoin it's worse than what you saw in the tech bubble because at least then people were trying to justify the future even if they were wrong and i sent out a note to our advisers this week, i said, look, this is an exercise in

helping our clients fight fomo it's hard to watch people make a lot of money by not doing very much but if you can withstand kind of standing on the sidelines, that's what you should be doing. if you can't, don't get sucked in too hard and you may end up losing a lot of money. >> karen, mark cuban makes a good point in that doge may not be a currency but he's basically legitimizing it by accepting it at the mavericks shop and enabling people to use the dogecoin to buy paraphernalia. >> okay, i accept that that's real, okay i don't know that -- i'll accept that really happens. he's a great investor, that doesn't make dogecoin a great investor at all. let's say you went to the greater fool carnival and they

pass out the little tickets but they made unlimited amounts of them so you can imagine that that might hurt the ultimate value of them and it does nothing. you can't use it for anything. it's not a store value, but apparently you can give the scripps i guess to get some mavericks swag or ellen swag it's insane to me. you have to know -- you have to know the likelihood of you losing money is so high. if you want to do it for fun, think of it as only fun, tickets to the carnival. maybe you'll win a little stuffed animal, great. good, other than that, it's insane. >> whenever you start off the story off with let's say you have a carnival, you know it will be a good metaphor and i think it was in this case. coming up, set to take flight e g chntonbite gia on deck to report earnings tomorrow after the bell we have that when we return.

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they need to be ready for anything. i hope you're ready. 'cause we are. welcome back to "fast. we're gearing up for twitter earnings tomorrow and the analysts are betting on a big move >> hey, mel, so looking at

twitter, with calls outpacing the puts 2-1 and drilling down on the strategy, you can see options are implying about a 9% move in either direction between now and friday which captures the earnings move compare that to the average move of 11.5% so slightly muted here. about 5,000 of the may 85 calls traded at an average price of 35 cents. and that looked to be initiated from a seller. so they're positioning themselves for a break even around 85/35 or betting that the stock will finish below 130% of current spot. >> all right thanks for that. tim, what are you expecting out of twitter >> look, the last time they gave us their investor day, they talked about monetization dynamics that were extraordinary and both from investor days and the last earnings calls the more

momentum goes back into the stock and the investors start to realize they have turned the corner that's still not entirely clear, but dau growth fine, ad revenue growth is excellent. it needs to hold $64, $65. along the stock i think the continued move higher in terms of their rerating story we're in the middle of it it didn't die. it certainly built a fire two or three months ago and i think we're still there. >> for more "oioptns action" tune in at 5:30 eastern time coming up next, final trade. when traders tell us how to make thinkorswim even better, we listen. like jack. he wanted a streamlined version he could access anywhere, no download necessary. and kim. she wanted to execute a pre-set trade strategy in seconds. so we gave 'em thinkorswim web. because platforms this innovative,

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the countdown is on. we are hours away from the stock draft special. it kicks off tomorrow at 2:00 p.m. and tim is competing with his team which is himself. sea more alpha, you have the number one draft pick. can you give us a hint >> look, yeah, you sound very dismissive

the stakes are high, i have the number one pick. i'm telling you there's some athletes that could be the number one picks i'm not giving away anything big day tomorrow and i can just tell you the competition this year has never been more fierce. the stakes, never been higher. phenomes like bitcoin -- >> it's all there. guy's in there for a halftime sort of breakdown, so any quick thoughts here? >> good. me and jc, all i know as long as o'leary loses i'm happy. >> i hope he hears that. time for the final trade let's go around the horn jeff mills >> reits continue to be under the radar outperformer, it as a good way to get more exposure. >> tim >> slb, schlumberger. >> karen

>> i'm not anti- -- i'm anti-doge and i want to be long on gm tomorrow. >> guy >> mr. wonderful. >> brew ntl naiadeiafincl. >> the stock draft my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it, "mad money" starts now. hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends, i'm just trying to make you money. my job is to entertain and teach you. call me at 1-800-743-cnbc or tweet me @jimcramer. is this market driven by price

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