sandwich in san francisco and texas. in san francisco they're selling about 20 a day and texas more like 35 so that doesn't bode well. >> okay. okay car max and webber are the others. forgive me for cutting you off but we gotta go. have a good weekend. see you soon. that does it for us. "fast money" is now. live from the nasdaq marketsite in time square over tonight's trader lineup, -- ahead on fast a golden milestone shared of new mont mining hitting all-time high up over 30% this year. we'll drill down on the gains and road ahead. plus stuck in reverse. gm and ford moving in the wrong direction. supply chain, surging gas prices and now rising interest rates, is the mo-town revival in the rearview. and history making moment in amazon a staten island warehouse

voted to bring a union to the tech giant, impact for amazon. minutes away first we start with jpmorgan mixing apple from its focus list setting slow downs in consumer spending an the economy, apple closing lower for the third day in a row next telling employees to be careful. netflix did recoup much of the losses and morningstar, ark innovation to a negative but down 30% this year so are these headlines warning signs of a tech slow down? this as we approach earnings season just weeks away, grasso, what do you say? >> i think apple, whenever someone makes a comment about apple they want to be provocative. apple is the safest bet in an unsafe world so when you want to be in the market but you fear that the end of the world is coming, you probably -- people are going to go into

their coffins holding apple. right. they'll be in a pine box and there's going to be apple stock certificate on their chest. i wouldn't agree with that one. ark we said before, this is massively high multiple names that maybe the end is coming for them. but doesn't mean the end is coming for the overall market netflix i don't know if it was expense account for the lunch billupss they're worried about but next is -- >> you're saying poo poo to all of the things we outlined at the the top of the show. it's all baloney on a friday. >> people are paid to say something, right, we're here, we're saying something but we have conmichael vick in it have conviction in it. i think apple, karen will tell you something, bonawyn will say something intelligent about it, people will stay long apple. indefinitely. next you know what your getting from net flix

>> let's separate it from what we'll hear from the earnings calls that will separate the markets maybe in the matter of weeks or month or maybe not at all. in terms of apple. highlighting if apple feels consumer slow down in spending, imagine the stocks with the products that are not as eten -- essential with an ipad or imac. >> did you say you would go to a coffin with the phone. >> i'm dating myself quite a bit but it would be nice to hear it ring, do you have a signal down there, what is 17 g. >> anyway. >> anyway, apple i'm in it for the long-term. i tried to trade out of it every time there's either a supply chain issue or a little wiggle in consumer spending or anything like that i would have been out

many, many points ago and never gotten back in. so i'm just going to ride it. i'm going to see. i'll be interested to hear about supply chain issues for apple. i will be interested to hear about demand, would rather it be unfulfilled because of supply chain than the other way around. netflix did pay shonda rhimes 3 to $400 million is that in the coffee room? >> that's a good point. did you see bridgerton season two. she may be worth every penny i will go to bonawyn on this one. let's put apple in context nek just had an article about how apple will have to cut production of ipads and se's and the forward pe of apple what is 28, plus or minus 1. so is worth

it with these risks out there. >> yeah, just south of 30, to be clear, i hear you, when the casket drops people will be holding those iphones but the point is is off the focused list opposed to them changing their rating there. it is like saying listen, we don't have high conviction one way or another. i think the other panelists are right but apple wins by default and these issues, whether supply chain issues or consumer spending on the demand side, all of those situations, if they're effecting apple and -- to be fair -- they have been able to navigate those things quite well, but just imagine what's going to happen to people further down the supply chain or have weaker customer demand. so apple wins by default but i understand the logic saying that is not a focused condonte divincenzo tougher restrictions so is not a focused conviction so give them credit for taking it off the list. it wins by default

for the reasons steve said. >> that's a good point apple is still overweight with jpmorgan off the focus list. pete, they also highlighted potential drag on services in the form of slow down we've seen in gaming. you are mr. services man, extolling the virtue of the services revenue pieces of the pie for apple for a very long time but we see a slow down in that too. that's not pretty. >> do we really see a slow down there or is the demand for phones, what part is the demand slow down. i'm confused still. and i can tell you this, i don't know if i see it, last quarter up 24%, strong numbers for wearables, and had great numbers for their services rg the combination of those two is exactly where you want to be. that's where the growth is. by the way, they still have the credit card that tim cook was talking about. stunning growth there. and ar in the future is coming and electronic vehicles. when

you look at apple and see 27, 28 times i don't worry about that i look at the free cash flow and buy backs and everything else from the financial side of apple i don't see it and that's why i remain very, very bullish, and i love what they're doing into the future. this started back when people were talking about the phones when we were talking about services. they were talking about service when we brought up wearables this is the whole thing, apple doesn't stop they keep moving so tip your cap to tim cook that's what they're doing and they're getting much better margin than on the phone. >> i get it, everyone will love apple to the grave and beyond. let's broaden the conversation, apple may be viewed as a bellweather of sorts if it is surprising to the upside not sure it will extrapolate to the tech sector but if it goes to the slow down it is ten time worse for the tech sector i imagine grasso. >> i'll give you that. that's an

easy bet apple cracks, first, whenever you see the markets sell off you always see the favorites of the markets selloff last and off the bottom they're the first to be bought. if you look at apple, the one thing pete didn't mention was how about them kicking around the idea of subscription-based model that could battle whatever slow down you see in every other sector of it but i agree with you, if apple starts to fade you have to watch the rest of the market. apple is the barometer. we could have that alone >> i think apple is the barometer just as much for consumer discretionary as it is for tech people really will save to buy apple products and if they can't afford that or don't feel confident spending i think that's going to be very, very bad for consumer discretionary. >> yeah and bonawyn which names would you look to specifically if apple were to say they're

experiencing either strength or weakness >> i think if they were to experience strength i think you probably kind of ride the wave higher means we've kind of made it past the supply constraints and that consumer demand justifies either higher multiples or higher earnings to push stocks higher on the down side, really don't think i'd be anywhere near the consumer discretionary space, as karen said, that's a core holding, in terms of where disposable income is going if you are not spending it there you are probably not spending it on durable, can -- we had a pull forward with things related to the home and so, travel, leisure maybe hold a little bit, because the price point is so much lower but any high-end or mid-tier end consumer discretionary i wouldn't be touching. >> meantime check out the moves

on newmont mining, hitting high in a really long time. let's get to carter worth, what do you see? >> yeah, a really long time. the question is, are records meant to be broken let's look at the chart. the first one right out of the gate, as a technical set up goes this is the kind of thing you want, you want an uptrend, you want a flat top, if you will, as you consolidate and work off a bit of the excess. and the presumption is you then reassert yourself with the next up leg. you can call it ab ascending triangle, doesn't matter what you call it, it's a good set up. now if you keep that in your mind's eye and look at the same drawing but on a longer term chart. the third chart, keep in your minend's eye again, we broke out to a new 52-week high and this consolidation is healthy and normal you get to a high, probe and

ultimately break above it. now look at the next chart, it's the same time frame. that is not a symmetrical set up i don't know what is, definition of round bogt, bearish to bullish reversal the sequence is excellent, bottoming out, approaching of the high, backing away and reis certificating strength and the high and backing away reasserting strength and now where we are now this is all data that high way back is 34 years ago, 6 months, 2 weeks it's since september 1987. look at the next chart. we are literally to the penny at the former high. and here's the best part, today, ever so slightly, we made a new all-time high and the analyst community hates the stock. 22 analysts cover it and 12 point price target is $71. it closed today at $82.78.

so the consensus on wall street is this will be 14% lower yet the target keeps moving up week after week chasing the facts. i think there's much more to come >> carter, it', new mont is starting to completely outperform gold, does that matter to your analysis? a coups also outperforming its peers if you look at philadelphia gold and silver index which peeked in 2011 that is still 30% right now below its former high where newmont is making all-time highs. to your point, for the first time in a while newmont is actually starting to outperform the bullion which in principle is bullish thing >> carter we'll see you in a few minutes on "options action". carter worth of worth charting pete, are you on the newmont mining train? >> you know, in a way i am, mel. i'm actually on the gdx train.

matter of fact we had some buys in there today when you look at gold over 2,000 and then pull back close to 1900 you would expect to see all of these gld, gdx everything move to the down side. we really didn't see that. we had a little bit of a pull back and then back up again so i like what we're seeing in the reaction i think gold has more room to the upside. i love the gdx fwieg they're buying 41 in april and gdl same thing buying the upside, they're on the way to break out to the upside. >> for the same reason carter finds that bullish i find it topee. if you had to weight 30-something years to get to that old high, they do have copper and zinc so there's a lot of noise around what they actually do but if you saw that spike 30-something years ago, it didn't last that long either so i'm thinking the days are numbered for newmont can it go urge if further?

yes of course. do i think it will sell off, yes, i do. >> completely opposite from carter worth. bonawyn? >> i'm going to focus on the trading it will depend on entry level. if you have been in this thing and ridden it 35, 40%, i think you have to take at least half the position off. i struggle to establish a new long-position here if i'm thinking long-term but i do understand the trend and momentum that it has so i could buy it here i would probably establish position via calls but if i bought it would be a trading position and i'd have a level in mind i'm looking to get out, 5 to 10% from here. >> i'll translate that, he agrees with me go ahead, sorry. take it away. [ laughter ] >> all right, coming up, hitting the brakes, shares of gm and ford sliding, why the moves have one of our traders saying look out below and later on "options action" we're looking after the

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auto stocks tapping the brakes, ford and gm halting plants due to part shortages. bonawyn, could be a bad sign for the industry huh? >> yes you know, when i think about ford and gm and think of the multiple expansion they had previously gotten and stock price how it reacted and think of the movement into ev's and lithium and everything else you need to get access to and i'm saying if they have issues with battery inputs with semi and chip-maker production, what about all of the spacs that put out all these ev's i think some of the names like nio that have been having exposure to china, there's risk. geopolitical risk there that makes them a momentum-play in the short-term but everything else, i think if these people are having issues with it it probably trickles down and doesn't look good. >> we've already heard about

rivian with difficulties with various supply chain supply issues so pete what do you make of the supply chain issue. >> it's something that's a little bit crazy, mel. a lot of us were thinking it is loosening up with a wind behind us, going to pull out of this whole thing, but then you get this news and it's frustrating it's exactly why some of these companies like a tesla are attacking and trying to do everything they can to create their own stuff in-house so they don't have to worry as much about the supply chain makes a lot of sense you would think these guys would pay more attention to that as well i think sooner or later they will that said, for a while there was a huge run of gm everyone loved it when it was over 60. it's fallen back again and now it's beaten up far enough they'll catch up. i'm thinking gm and ford are about a buy at this point in time >> i'm actually pretty concerned about gm in that to the extent the supply chain

issue has them not delivering these cars until, i don't know, second half of this year, early next year, i wonder what gas price -- the effective high gas price will be. we know suv's is where they make their bread and butter auto loan price will go higher so that has me some what concerned. and used car prices if they do come down that's not great either, with the differential wider, makes people less likely to buy new i'm concerned. valuation is cheap but this is the most concerned i've been in a while >> couple things, i agree with pete on a technical level both ford and gm ford 15.5 level obviously above that now gm, the 40 dollar level. those were huge launch levels for the stocks individually. so i do like them both as buys right no and then if worried about rare earth mp mp materials i spoke about it, bk spoke about

it, that's a name you could look at i don't know if i would rush all in right now but bright future ahead of it. >> it got a pop from the defensive production act move from biden coming up, what amazon union voting in new york means for the company and economy. we're live from the nasdaq marketsite in time square, "fast money" is back in two. hey businesses! you all deserve something epic! so we're giving every business, our best deals on every iphone - including the iphone 13 pro with 5g. that's the one with the amazing camera? yep! every business deserves it... like one's that re-opened! hi, we have an appointment. and every new business that just opened! like aromatherapy rugs! i'll take one in blue please! it's not complicated. at&t is giving new and existing business customers our best deals on every iphone. ♪ ♪

welcome back to "fast money" amazon warehouse workers in staten island voted in favor of unionization the first union of its kind for the company that

fought aggressive towards its efforts. amazon managed to eek out higher today, steve. >> it is counter intuitive when you you look at amazon, it is pro-worker, necessity pay their worker pro-woker. they pay they pay their worker well and want to treat every worker as an individual ultimately this is a negative for the stock but fortunately the split is what people are concentrating on right now so they're not are worried about the unionization, so to speak. >> i wonder with that and starbucks are we in a new era of the power of labor you think of the late 70s and 90s you had high gas prices and you had labor, calling the shots, before now. before nafta and outsources of

manufacturing jobs which may be coming back now. it would be, i think, inflation airy for sure.inflationary for . but i don't know what these one-offs mean. what is they want? >> want. >> exactly. >> the bargaining power. >> the ability to have bargaining power. >> you also have to wonder whether or not this window of time where workers can move to unionize is a small one if the economy is slowing down or if you're in a camp that believes a company like amazon -- not saying amazon will do this -- if wage s go too high and you move faster to automa er to automate bonawyn. >> automation is pervasive so that will happen one way or another. it depends how specialized you are. in this case, mid to low-scale labor, you know, i think they do

have a little bit of time because are you still seeing tightness in the labor market, even alongside wage growth so i really can kind of understand why they're pushing the energy now i understand your concerns there but this thing might get a little long in the tooth. >> yeah. all right. time for the "final trade" for friday let's go around the horn pete, kick us off. >> i'm going to give you next tier he oil fields, you don't hear a lot about this name, ne x i think is going higher. >> all right, bonawyn eison. >> so stevie g mentioned something you should take down, i will give you another you should hold on to tightly. boring, basic, profitable, berkshire b. >> all right, karen finerman. >> yeah, i'm going with bank of america calls going into earnings april 18th, i've gotten a lot of feedback on bank of america calls i've made before, but i think it's actually the bar is getting lower every day, even lower, going into earnings i like it.

>> when you say feedback do you mean vitreal. >> something similar. >> grasso? >> the basket trade i could feel it coming to "fast money", which do you take to the grave with you? alibaba is my final trade. this one's all over the charts, all over the map i think you can go higher. >> that does it for us here on "fast money" do not go anywhere "options action" is up right after this quick break. a financial advisor who gives me personalized advice that helps build my portfolio and my confidence? now you're talking. no wonder ameriprise financial has been named the #1 most trusted wealth manager. ameriprise financial. advice worth talking about. your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire

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it's friday and time for "options action" i'm melissa lee live from the nasdaq new york marketsite in time square here's what's coming up. >> first up, taking q's from the qqq's. carter worth lining up what the tech sector and did know the term biotech was first termed in 1916, been a long time but tony zhang thinks it's time for a long-time play in the sector.