upside so some mechanical stuff e , technical stuff, and earnings not as bad as where they could have been. >> the rest of the story, the stock down 10% appreciate it. that's mike santoli with his last word. i'll see you tomorrow. "fast money" begins right now. right now on "fast" an earnings extravaganza. a trifecta of titans reporting apple up a percent on a beat and intel falling nearly 5% or weak guidance conference calls under way this hour. we're watching robinhood, big miss on the top and bottom line and down almost 50% this year how much lower can it get and beyond the earnings, the nasdaq jumping over 3%, the s&p 2.5%, the dow up over 600 points welcome to "fast money." we're live at the nasdaq market site, i'm melissa lee.

on the desk tim seem ymseymour, owe, dan and guy adami deirdre bosa just got off the call with the cfo. what did he tell you, d-bo >> he told me inflation was a problem. he quantified it he said that they took an incremental hit of $6 billion versus last year due to inflationary pressures and he doesn't see them easing any time soon that's what's hitting the guidance which is hitting share prices down nearly 10% the forecast of revenue growth of 5% in the second quarter is the slowest we've seen in a few decades on top of slower growth this past quarter. he also had really interesting comments on supply and demand. the cfo told me that they doubled their network over the pandemic but that has now led to too much space now they have to try to optimize it and that's going to take some

time i asked if that had anything to do with the demand picture and he said no, that remains strong. in terms of the different businesses, cloud was a bright spot growing 37% year over year and so it is keeping pace with the other players like microsoft and google advertising, however, subscription services, those were a bit of a disappointment, a little light the subscription one is interesting, melissa, because they raised the price of prime this past quarter. so you've got to wonder how sticky it is, how much pricing power they have. as i mentioned, shares down nearly 10% back to you, mel >> given the big rally that we saw, guy, i think investors are trying to make heads and tails of what to do with this stock, particularly with the guidance. >> guidance is a disaster. let's talk about the quarter first. operating margins of 3.2% were not good you look at it and understand why because everything that deirdre just told you about, inflationary pressures which

they said don't seem to be abating any time soon. give them a billion dollars operating income next quarter. it's still almost 6 billion light of what consensus was, again, not good. if they talk about inflation being a problem for a company that lives or dies by their margins in my opinion, it doesn't look good for the stock and you're seeing it. >> inflation on every front except for maybe the bonuses which they don't have to pay too much anymore but fuel costs in europe in particular are still an issue and we'll see that continue. >> so here's the deal. if this company is warning about this being persistent or as guy calls pesky and you talk about it in light of that gdp printing this morning they just said demand was good but we had a negative gdp printing and so who knows. that explains why the stock is down 10% because investors are saying this is not likely to get better next quarter either

that's one of the reasons why when you think about what microsoft was able to do in that quarter, what apple just put up, we'll talk about it in a second. if amazon is correct, we'll hear this from microsoft and apple. i know they're very different businesses but amazon has both when you think about aws. aws is up 37%. it did decelerate year over year i think we'll see more of this the next few months. amazon, as it led last year, not keeping pace with the nasdaq is probably leading the way to the downside. >> was there anything in the print that makes you concerned about the consumer it seems like there was no degradation in ordering, the cfo that is, over the quarter or during the pandemic. things got better in terms of ordering. >> i do think that's a positive. the capacity issue coupled with the operating margin less than stellar performance does give me some pause we've all talked about whether or not we've gone through this

covid situation and have had pull forward of demand whether or not the demand remains stable, there is some disconnect between that and what they expected to be an increase in demand. that capacity issue, what they do is they are logistics beasts. that is one of their operating leverages that they're able to pull the fact that they're having to streamline and make that more efficient does give me concern the last thing to dan's point, this has been lower beta on the upside pops that we've had i'm not surprised to see it trading down on the back of the earnings announcement. >> tim, what do you think of this 9.75% decline >> well, i'll subtract out 5% from earlier today and say we've netted that down 4 i like the reset i think you've got a case where also, look, the 7 hand count quarter-over-quarter revenue growth or year-over-year should have people really disappointed. we're talking about pull forward, but the growth rate

pre-pandemic was 20% so those are the things that in the same way that you overshot to the upside, you're overshooting to the downside i think amazon is a beast. i think it will continue to be a beast. e-commerce revenue will continue to be where sales are going to grow everyone would want to have amazon's infrastructure and build out around it. look, it's nice that we're resetting here the operating maurgin, operatin profit up at aws 37%, we're talking about the difference between enterprise and what's going on with the consumer it should not be any surprise the consumer needs to slow down a little bit in amazon's case people sat at home and all they did for sport was to order in terms of the charts and where you want to go with this, this is what we're doing for a lot of stocks we have to take this somewhere back just north of where we started covid or not on the charts that could be from 1400 to 1600 or more likely 2100. >> let's say that there is some

concern about the consumer, there's concern about the environment, the macro environment. if you are in that camp, and i think dan and guy at least probably are, then why wouldn't amazon be the place, why wouldn't it be like a walmart or a target >> it should be. that should be a flight to safety but they have gotten themselves -- listen, the other businesses they have involved themselves in and the valuation the stock trades at will get a re-rating in the name. i agree you can make a comparison between walmart and amazon what you can't compare the two are on valuation that's what the market is struggling with right now. >> let's bring in gene munster for more on the quarter. gene, your take. >> i'll start with a comment about the guidance it was in fact revenue guidance 5% below the street. keep in mind that was the same guide down that they had when they reported their december quarter. there's a lot of pins and needles people are on that make it sound worse than it is.

but that earnings guidance impacting inflation. there are two headwinds that amazon is facing consumer is starting to slow the retail business was down t3% year over year down 6% in the june quarter. they are particularly susceptible as you outlined related to costs 1.3 million workers, all those expenses, logistics going up you throw some high valuation into that and i think that this stock will be parked for some time. >> the year on year comparisons, gene, how much should we discount because dcomparisons ar tough year on year >> they are tough. 2022 is the year we're going to start to baseline some of those. but it doesn't change the fact -- by the way, the comparisons for amazon in amazon's case, it was going up against a 20% comp much easier comp than what apple just fought through. and so, yes, the comps matter.

that does explain why these growth rates are slowing that's what 2022 is all about for all of these companies, base lines and the growth rates in this case it was a little bit more sharp of a decline than i was expecting, especially on the retail business. i think it's a read on the consumer i think this is something that i think you can see through to the rest of the economy and i think you'll see a similar type of commentary with again accelerating declines for amazon row retail business in the third quarter. >> gene, it's been mentioned retail business and consumer business should we be focused on things like cloud or consumer-facing parts of their business? >> i think that the most important part of the story is still retail i think it's still consumer. if you just look at raw percentages of revenue, the advertising business is impacted by retail. we're still talking about 85% of amazon's business is related to

retail it's it's nice that they have shiny things growing on the side but this is consumer spending and logistics and both are hitting headwinds. >> gene, i'll let you to put your stock praognostication hat on this has been between 2300 and 3350 or so for quite some time right now we're below that range. what does that mean if anything, and what's the right price for amazon given what you just said? >> i think the right price over the next three to six months is lower. the market multiples are going to impact that, but i think we're still -- when i think about the next three to six months being a baseline in some of these big tech companies, i think amazon is particularly susceptible for the reason of valuation and the other two headwinds. so, guy, to answer your question, i think it probably will bounce around and drift lower over the next three to six

months ultimately, 2023 will be a great year for tech and in amazon'scation, what her doing investing in logistics is a massive defensible business. we will come back to this but i think it's a little premature. >> gene, you're going to stick around amazon shares down 10.6% let's get to ally. the stock now negative, even after posting a beat on the top and bottom lines apple earnings call kicked off at the top of the hour steve has the highlights. >> two key taka waes i spoke with tim cook earlier who knocked down concerns on china shutdowns impacting the quarter. cook telling me the shutdowns had no impact on the quarter since they started just as apple's fiscal quarter was ending meanwhile services growth is slowing, up 17% but not as hot as 26% a year ago. i spoke with the cfo about that and he told me covid lockdowns are to blame for the tough comps

and telling me, quote, during the most difficult periods of covid digital content went through the roof so the comp is a bit more challenging in some cases. the call just started so i'll be listening for any more comments on the china outlook and be right back with that. >> thank you, steve. dan, what do you make of the quarter? >> it's good they put up a great quarter in a difficult environment last quarter and i think that surprised a lot of people. the market was in the throes of a selloff. i will tell you that because that was the first leg of the selloff in this market that has been very focused on valuation in a very uncertain macro environment, i think tim cook and the cfo's comments should be -- you should feel pretty decent about those if you own the stock, except for the fact everything we just said about amazon, like i just said before, you can extrapolate three months out, five months out, the consumer is weakening.

if you look at where mortgage rates are, where gasoline is, where the inflationary environment is in general, that's not good. that's not me being some genius economist. look at the demand for credit. apple will go into a weak seasonal period. what's your number, guy? >> up 138, the october low, dan. >> mine is a little rounder at 140 or so. that's where you have a valuation that makes a lot of sense. you're not going to see dramatic hits to earnings but it trades about six or seven times the s&p 500. >> let's say you don't want to bet against the consumer and you think consumers will buy apple products no matter what and watch apple tv, et cetera, tim the timings of the china lockdown appeared the impact is interesting because it didn't affect the quarter that they reported it will probably impact the quarter that we are in right

now. >> yeah. and again, the extraordinary nature of the quarter was that they were not impacted as others were and, you know, look, china and moderating consumer growth everywhere, add those two together i would be taking an opportunity to talk about that i would be guessing we're still going to hear some of that hold on to your hats and back to the multiple, it really comes down to that. jpmorgan has a 30 multiple on it do you pay 30 times for this stock today? i get you paid it yesterday. you pay 30 times multiple when in fact the high multiple part of the business and people are tending to value services in one way and hardware in another. the high multiple part of the business they told you is slowing. they told you how some of the dynamics around that business and services were extraordinary. so that's really the question. the great stuff here is not only was it a great quarter, but it continues to be a stock that you

can hold through difficult times because this $90 billion b buyback, this stock has a floor under it i just wish we could get to some of the levels. maybe not guy's level or dan's level but i wish we could get this out of way because it is coming there's no way the consumer can continue to be buying apple products like this. >> apple is down 1.9% in the after hours session. do you agree with that move? >> i do. this stock rallied aggressively and i don't think that was the setup that you really wanting. now it's a question of do we have any follow-through from this ripping rally that we've seen everyone, myself included, was looking at apple to be the thing that kind of drove us to the next leg act of that, i don't see what buoys us higher. do you want to buy into a rally where facebook is leading us to the next thing after me and

probably every other investment professional has said that last quarter is extremely challenging. this is going to be a five or ten-year play. this isn't really the type of market coupled with the volatility that we've seen that i want to be playing into. apple, the price action we're seeing after hours is people buying into that exact thesis. >> we're not really getting a savior in big tech savings we've got apple and amazon declining. >> and facebook in my opinion, this is a classic relief rally off a stock down north of 50% off its all-time high. i'm sure you talked about that last night if you didn't know it was apple, we like to play these games from time to time. >> oh, yeah. >> if you didn't know the four letters or three letters and just saw the metrics around it so a company that's trading 25 times next year's anticipated numbers, notice i say

anticipated with 6.5% eps growth and maybe 6% revenue growth, something is amiss it's just the wrong valuation. it shouldn't trade at a market multiple but i think 25 is too much i think that's what dan and bonawyn are both saying. >> guy, i'm sure you're getting lit up on the twitter here 17 minutes and no one has had much good to say about two of the best companies in the world, amazon and apple we can all agree on that. >> right. >> so it really is about the environment. this show is called "fast money. when i think about it, we could lay out a lot of fantastic things about why buying right now at this price, 164 or where amson is, five years out is the right thing to do. what i think market participants have mispriced is where existing s&p estimates are and what they're willing to pay for them. i think that estimate is coming down and these two names have held up -- not amazon, but apple has held up reasonably well and

i think it's going to be lower the next three to six months you're going to have a great opportunity if you're a long-time holder to buy it cheaper. >> gene, what do you want to hear on the call >> melissa, if i may, i just want to set the record straight. apple had an amazing quarter the market is not giving it credit for it but it was impressive it grew 9% what do i want to hear on the call that component costs they're able to manage with long-term contracts. i am bracing for what luka is going to say on the call we have an increasing dependence on their products. it's an iphone story today in the future there will be hardware as a service, there will bewarables, augmented reality. if they do get into auto, which they do want to get into in the next few years, that auto business could be just as big as all their other businesses

combined today so what i want to hear on the call is that they're managing costs. what am i thinking longer time it doesn't really matter because this company is going places long term. coming up, we've got even more earnings on deck. shares of intel dropping and issuing a stock warning on how long the chip shortage will last the dow climbing more than 600 points we are bakg wnreindo today's rockin' rally. don't go anywhere, "fast money" is back in two ♪ ♪ wow, we're crunching tons of polygons here!

what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq hybrid work is here. it's there. it's everywhere. but for someone to be able to work from here, there has to be someone here making sure everything is safe. secure. consistent. so log in from here. or here. assured that someone is here ready to fix anything. anytime. anywhere. even here. that's because nobody... and i mean nobody... makes hybrid work, work better.

my fellow xfinity customers. makeshi tim. work, the biggest week in entertainment is almost here. watchathon week presented by xfinity rewards. with free access to stranger things from netflix. the boys from prime video. hbo max, starz,

and peacock. just say watchathon into your voice remote and get ready to watch. i love you. i love you. i love you all. welcome back to "fast money. we've got another earnings alert on intel the stock moving lower despite a beat on the top and bottom lines. for more let's get to contessa brewer contessa. >> hi there, melissa it was weaker than expected guidance the street was expecting $18.4 billion and 83 cents a share on the earnings call just now pat gelsinger reiterated his attention-getting prediction that the supply chain challenges for chips will persist through 2024, especially in foundry capacity and tool availability he pointed to the covid lockdowns in china and war in

ukraine as situations that underscore the need for geographic diversity in semiconductor manufacturing. he said intel is making significant progress toward half its manufacturing capacity happening in europe and the united states. he's also talking about the progress that they're making i'm just looking at my notes here, in blockchain accelerators and self-driving technology. the call continues, i'm listening in. >> contessa, thank you don't miss pat gelsinger on "tech heck" tomorrow tim, they're going to make tech announcement the as vision '22 may 10th and 11th but we are here in the after hours with a decline of 3.5%. >> i think intel is underappreciated on their leading edge technology. people understand where some of the foundry and buildup they need to do to even become brick and mortar and compete with taiwan semi is well understood people don't understand the high

margin chip profile of this company. the announcement a month ago about $88 billion investment into the eu, so geographic and global diversification, but eu, u.s. friendly are part of the story. data center and ai up 22%. that number was pretty solid in a place they have shown a fair amounti of consistency. >> chip shortage lasting until 2024, guy. what do you make of intel? >> well, it's interesting. contessa just said something really interesting about geographically security. i think the bold case for intel, just my opinion, is like a homeland security type of play if the market figures that out and can get their arms around it, it's a much more expensive in terms of valuation stock. amd has been cut in half over the last couple months intel has not been cut in half that's the good side of the equation it's the place to hide on valuation. the bad side is, i know what tim

just said, but there's nothing that compelling about the story right now in my opinion. >> it's sort of in between, right? >> let's give tim tons of props. he couldn't come down to the nasdaq but let's give him some props. he said those -- easy there, pal. >> that's the thing to look forward to and this company expected to be 52% gross margins in year. if you start having margin expectation, you have trades 13 times and expectations are really low for next year the problem is it goes back to what's your time horizon right now you're not going to make a whole lot of money until they get some of this stuff figured out. >> if you view this as a turn-around story, you are early in this turn as guy mentioned, if they want to build foun dries here in the united states, that's great but it takes time to build them. >> it's a long-term growth story, long-term capital play and long-term security play. but they have stung you a few

times in the recent past if we're playing the long-term game and we should be doing that along with fast money, i do think this is a name you start to deploy a little capital to and average into over time i think it will pay off. in the short term i think capital is better deployed elsewhere. 13.5 times is pretty compelling. so that along with the technicals, there is a bit of a floor. we do want to take another check on apple as well as amazon is at after session lows apple is lower by 3.5% and amazon is down 12.5% we are seeing lower trade in the extended session down 1.2% it sort of makes you -- well, you probably question the rally that we saw today before this but it makes you question it even more. >> we've seen -- listen, we said it since november. the countertrend moves, these rallies and i don't want to use the term bear market but markets

that are sloping lower are violent. you saw it today we've seen it a number of times over the last month and a half, two months tomorrow we're obviously going to see the other side of that. i'll say this, the vix again straddling that 30 level will probably be elevated tomorrow. that's suggestive to me of a market that's going to continue to put in lower lows i said 4,000 in the s&p, i'll stand by that. i think the overhshoot is 3750. with these numbers and price actions it's easy to see why we would see something like that. >> it looks like the cfo is making some comments about third quarter fiscal revenue this is apple by the way to be hindered by 4 to $8 billion because of supply chain constraints. well get more on these details as wetting them. t we're down by 3.25% right now. more details straight ahead. a green day on wall street with markets going positive but should you believe the bounce?

we are dickgging in next. we'll break down the numbers when "fast money" returns.

♪ ♪ i came, i saw, i conquered. (all): hail, caesar! pssst caesar! julius! dude, you should really check in with your team on ringcentral. i was thinking like... oh hi, caesar. we were just talking about you. ha ha ha. yeah, you should probably get out of here. not good. ♪ ♪ ♪ ringcentral ♪

let's get more details from the apple call apple shares down more than 3% steve has been listening in. steve? >> shares falling a little bit of the we got more comments on these russia -- i mean well russia and china problems that we've been hearing about, these lockdowns and the impact the cfo saying on the call they're expecting a 4 to $8 billion negative impact from all these lockdowns we've been seeing in china. on top of that, tim cook just

said primarily these problems are around the shanghai corridor, but he is seeing some signs of case counts going down, so they're optimistic that things are going to improve but not get worse. again, going to have at least up to an $8 billion impact on revenue next quarter and then in russia, a little bit of an impact there, about one basis point they said, just because they pulled out of russia after the ukraine invasion, mel. >> you've got to wonder, steve, i if they are assuming the lockdowns continue or if they get better. >> what tim cook said it's the shanghai corridor. as we know a lot of apple suppliers are wrapped up in there. there's a great report about that earlier this morning. and but what they're seeing is case counts are going down, so they are expressing some optimism on this call right now, mel, about things opening up sooner than later. >> steve, keep us posted the stock is down 4% right now

after hours session lows tim, what do you make of this guidance >> well, again, they haven't even started talking about the u.s. consumer in north america and so this is concerning. ultimately you have a case and think about facebook's numbers and what that stock did. think about apple's numbers and what this did. these apple numbers were extraordinary. they outperformed in a very, very high bar. this is just what i think we're all saying no one is trying to ridicule apple. in fact it's really a story and you look at the execution across the product lines, that to me is the most amazing thing that's where gene i think is referencing their future so market-wise, look, this is the story. the qqqs defended 320, the semis defended 220 today but i just don't get the sense that they're really able to call it quits i think you have to watch out for those levels >> right so we're back to the ceos and cfos being epidemiologists

that seems so 2020 and i don't mean to be glib about that if you look at everything else going on around the world, we haven't even talked about the surging u.s. dollar. look where the u.s. dollar is. i think to me there is no shortage of land mines that exist for companies like this that have been executing very well we said on this desk a couple of weeks ago when tesla reported an amazing quarter, and we said gene munster saying amazing quarter. this morning that stock was down 25% from the highs that day. that's $250 billion in market cap. to think because this stock is so prercious and this company executed so them that it can't go down, is silly. i'm not wishing it down, that' just the way it is when you look at these two companies, tim just mentioned the qqq. look at that thing going back to one year it is sitting right on this $13,000 level, man if these two stocks were to go down and facebook were to fill in that gap and google would

start going back down again and microsoft gives some of that back, we're going lower. it's just that simple. listen, it's not -- i don't know, it's not an indictment of anything other than the fact that we don't have a whole heck of a lot of certainty. these are some of the biggest companies in the world and they are dealing with situations they have not dealt with in a very long time. >> we get added a lot on twitter so incredibly negative we're talking about forces that are bigger than the individual companies as dan had been mentioning you can execute very well and your stock can still get taken down gene munster, you said apple had an extraordinary quarter what do you make of this guidance >> he's flabbergasted. >> we can try and read his lips or go back to him at some point later on bonawyn -- oh, hold on he's back. >> i'm back, yes melissa, i'm back. the biggest takeaway was related

to the supply headwind, 4 to $8 billion. it's a bigger headwind than we had in the march quarter and the reason why that's significant is of course apple is among pretty much every company that's dealing with these supply issues. but what this does is i think it creates some anxiety for investors going into next quarter. if you were going to put all these numbers together, the 4 to $8 billion impact and look at where street guidance is, just to put some context on this, they are guiding to about $83 billion in revenue for the june quarter. the street was at $87 billion when you put all the factors together i think just that reality i think does impact the near term how this stock can perform, just like any company ultimately these are transitional issues that they're going through. at what point we get through the supply constraints, my best guess is probably sometime early next year. so to put -- to answer your question, melissa, what's the impact been, i think that the

supply piece is noteworthy it's noteworthy because it's come up on each of the last four calls. and it's going to probably be in the back of investors' minds it doesn't change my confidence. i think this is a $250 stock a year from now. call me out of touch from reality, but i think what they're going to get into, this company will bounce back, bounce higher in the future but this supply topic is something that is taking the headlines for the quarter. >> the expected hit to revenue, gene, just to be clear is from supply chain constraints according to tim cook, according to the cfo as well i'm wondering, have they mentioned anything about demand in china and whether they are seeing demand soften because of all the lockdowns? >> record quarter in china, grew at 4%. >> but for the current quarter. >> oh, for the current quarter, no they're basically saying that demand continues to be great however, they just can't keep up with supplies. so ultimately if people wanting

their products -- so to answer your question, the demand equation seems great the supply piece is essentially the boogieman that i think is going to be some concern ultimately they're going to get through the supply issues. having products that are revered around the world, having those, that's the difficult part. ultimately they'll get this right on the supply side. >> this is the biggest of the big cap tech, bonawyn. when you hear gene munster say the supply chain issues will last through the beginning of next year, you wonder what the impact is in other companies that may not have the size or heft to navigate. >> you took the words out of my mouth. apple is somewhat of a barometer of health of the general sector and the general market as of recent history if they are having headwinds in this regard, i can't begin to imagine what the follow-through is for other companies that don't have the pricing power, that don't have the vertically integrated supply chain, that don't have pricing power, that aren't first in line for these

supply inputs. so i just think the overall setup, and i don't want to jump on the bandwagon of being more negative i'll smile and say, listen, great quarter. our johnb is to give you the macroeconomic picture and whether or not that setup bodes well for you to execute within the constraints of the general economy and the general market what we're saying here is that despite the fact that they have been able to deliver and despite the fact they are a leading candidate and able to navigate in ways that others don't, the follow-through or loack of follow-through doesn't bode well that setup makes it very difficult. regardless of an ability to execute, you've got to take other geopolitical and macroeconomic factors into consideration when you're going to deploy capital. >> any momentum that we have gotten from today's rally, tim, is that now dead

>> look, i would question the momentum we actually really gained today on a day when i just think a lot of stuff was so oversold but yeah, i think it is. look, i'm encouraged by what i'm hearing from a lot of companies. i actually like these resets apple hasn't reset enough. again, you were right to point out this is just a supply side we haven't heard anything about demand side. but i want to hear demand side and i ultimately on a day when we got halfway to a recession, if you think that gdp really is an accurate read and it's just the first reading, i just think there's a sense here we have to understand a little bit more about how companies will see demand with higher rates and also margin pressures that are out there. >> if we take a look at the spys or the qs in the after hours session, we're seeing pressure from apple as well as amazon guy, is it too early to start getting that shopping list together if your time horizon is

onier? >> no, it's definitely not too early. to the point that you made to the consumer next potentially. if you think for apple specifically it's just a supply chain thing, then 155, 156 is a fine entry point however, if you think that consumer is the next leg of this entire pastiche the 138 level is in play. not too early. you should have it in front of you because when you get the numbers and get there you shouldn't be afraid to act. >> we talked about spotify, zoom, paypal, now they're down 60, 70, 80%. if you hate them here, you're doing this whole game wrong. so as far as i'm concerned, if you never took any profits in any of those things when they were just screaming in 2020 or 2021 or you like the story but didn't like the valuation, then there's some good opportunities here, especially with time horizons the one thing that i think the last month taught us is that some of these stocks that are down that much can rally 30, 40%

especially if you are nimble here but listen, we've been saying this for weeks now on the desk when those stocks go and break the lows that they just did, you better be careful because my experience in bear markets, when that happens, like alarm bells go off you better extending your time horizons where the visibility is still very murky. coming up, shares of roku on the move plus robinhood also on the move. shares are dropping hard after reporting a big miss on revenue. we've got the details straight ahead. "ft ne iba itw asmoy"s ckn o. [sx ] ♪ ["fly me to the moon"] ♪ ♪ ♪ imagine a community where millions share ideas and trade stocks, crypto and beyond. to the moon?

in other words... etoro.the power of social investing. in other words... nurse mariyam sabo knows a moment this pure... ...demands a lotion this pure. new gold bond pure moisture lotion. 24-hour hydration. no parabens, dyes, or fragrances. gold bond. champion your skin.

welcome back for "fast money. " roku is gig up a nearly 10% gain julia bore orstin has the numbes julia. >> well, roku's revenues beating expectations and a loss of 19 cents a share is a penny worse than analysts anticipated. the additional of 1.1 million new accounts for a total of 61.3 million was right in line with

expectations the company's second quarter guidance of $805 million is $11 million short of analysts consensus. roku explaining slower user growth as a number of macroeconomic factors, noting that they had growth moderating given the end of government stimulus payments. also cited the ongoing supply chain disruptions, which drove up tv prices and depressed tv unit sales it was worth noting that the stock is flat right now, but it was up 8% today, bouncing back from some declines in the wake of netflix' disappointing results. roku is still off nearly 60% year to date i'll be talking to the ceo, anthony wood, and we will bring you that interview in "tech check" tomorrow. >> julia, thank you. bonawyn, what do you make of roku >> this is a streaming correlate and that's a stuff setup this is not giving up gains as

we've seen with other names because they have impressed with the revenue and user growth. if we go look back at disney or net netflix, that has been the pain point for them are they able to maintain subs and grow subs at a sustainable and accelerating rate. roku at least on the surface has been able to do this. >> this major double top, we talked about it around $500. thousa now we're at levels of marchish 2020 i can't believe it because i'm going to get added for being positive, i think you can get long a stock here for a trade. i'm looking at some of the numbers. active accounts up 14.5% year over year, streaming hours up 14.5%. they trade at three times revenue, dan that's not ridiculous. it's not crazy. >> dan's eyes popped out of his skull just now. >> have at it. >> remember when it was skipping

up $100 a clip from 100 to 200, 300, 400, 500, and i said they're going to put those little plug-ins on the back of the tv in the trash heap this product is a zero in my opinion. the fact is down 85% and they just put up a beat and the stock can't even rally the company has only made money one year, in 2020. that was the year that everyone was shut in their home and dying to watch anything on the screen other than look at their wives sorry. you know what i'm saying i'm just saying in general here. so expectations for 30% revenue growth for the next two years? no, it's not going to happen. let's get to r robinhood that is sinking. a drop in revenue for q1, active users fell from 18 million a year ago to under 16 million now. the news comes a day after the company said it was cutting 9% of its staff shares of robinhood hitting the lowest level since last year's ipo in the after hours session it is down 11%

tim. >> look, if they're losing users, obviously major, major problem. it's one thing to have revenue be stalling and actually falling under the weight of the crypto markets and other dynamics they just made a major acquisition internationally in crypto and want to be able to offer 24/7 they're getting there. but their demographic, which is what i've said is obviously what makes this company attractive, not necessarily their current earnings profile but this is a group that ultimately should be a very, very interesting demographic to have in the stickiness and for somebody it's worth it but the user loss is devastating. the cash burn is devastating and i'm not sure it's time to nibble here. >> yeah. if you're not getting the user base, i don't know what you're getting with this stock, especially when there's some questions about its model still when it comes to payment for order flow people don't want to trade when the market is going down.

>> unfortunately they don't but a lot of times that volatility sets up for a fantastic trading opportunity. what you're getting, that was your question. what you're getting is a potential acquisition target i think that's what tim was hinting at i know he's mentioned it before. at this point that's what you're getting. he's mentioned the cash burn and operating constraints. they just laid off 9% of their workforce, slashing sgna there's some working capital restraints there if i took a step back, took the name off of the chart and looked at it and looked at the financials, i would say this is a company that needs a cash infusion i don't think they're going to issue debt or there's going to be an ability for them to issue additional shares here but the demographic, that is what you're getting. someone will likely step in and pay for them but that's the risk/reward it's a binary trade, but i think down here if you're going to play it they'll likely get acquired by someone who wants that user base. >> i don't think those users are what you think they are. all of those alt-coins and all

of those things that they were buying in 2020 and 2021 are down 80%. if they haven't sold them, that money has gone away. so the average account size is just tiny. it's not the thing that a larger entity wants to take on because the cost of servicing those and acquiring new customers -- i think the brand is the big issue. i think the brand is tarnished so to me with a $15 billion enterprise value, i just don't see any value in the thing. >> i see a lot of backlash on twitter from the people that follow me for payment for order flow and that is in part tarnishing this brand. >> right and we've said it for a while. the existential risk would be something to happen on that risk it turns out it didn't have to happen because the stock is doing it all by themselves i'm not trying to be glib here but i never thought there was anything particularly innovative about robinhood and now the stock is showing you that's exactly the truth. it finds its home at some point. i just don't think it's here i think people will say single

digits, it's cheap still nothing cheap about it. >> by the way, we are seeing big declines in apple and amazon we have lost a combined $286 billion dollarsish in the after hours alone between those two stocks. facebook hitting the mark, zuckerberg that is we'll take a look at the options market to see how adtrers are playing this one details when "fast money" comes right back will look back on our lives and think, "i wish i'd bought an even thinner tv, found a lighter light beer, or had an even smarter smartphone." do you think any of us will look back on our lives and regret the things we didn't buy? or the places we didn't go? ♪ i'd go the whole wide world ♪ ♪ i'd go the whole wide world ♪

make fitness routine with pure protein high protein. low sugar. taste great. high protein, low sugar.. so good high protein, low sugar, mmm birthday cake and for a cheesy crunch, try pure protein snacks. (all): all hail, caesar! pssst julius! you should really check in with your team on ringcentral. oh hi caesar. we were just talking about you. yeah, you should probably get out of here. ♪ ringcentral ♪

xfinity mobile runs on america's most reliable 5g network, but for up to half the price of verizon, so you have more money yeah, you should probably get out of here. for more stuff. this phone? fewer groceries. this phone? more groceries! this phone? fewer concert tickets. this phone? more concert tickets. and not just for my shows. get $400 off an eligible samsung device with xfinity mobile.

take the savings challenge at xfinitymobile.com/mysavings or visit your xfinity store and talk to our switch squad today. welcome back take a look at meta, having its best day in nine years, adding $87 billion to its market cap after yesterday's earnings report optimism is spreading to the options market mike khouw joins us with the action. >> the options market was implying a big move for facebook it delivered an even bigger one. when you get big moves, you get big volumes. we got big volumes in facebook options today. traded well over 1.5 million contracts. it was one of the most active single stop options that traded. a lot of the activity that we saw today expires tomorrow but the biggest activity that expires a week from tomorrow was the may 6th weekly 210 calls we saw over 19,000 of those trading for 4.30

buyers of those calls are betting on follow-through. that would put facebook at least 5% higher than where it is trading right now after hours. of course it did weaken very slightly after we saw some of those earnings results from the other two companies you were just mentioning. >> mike, thanks. for more options action, tune into the full show tomorrow at 5:30 eastern up next, final trades. thinkorswim® by td ameritrade is more than a trading platform. it's an entire trading experience. with innovation that lets you customize interfaces, charts and orders to your style of trading. personalized education to expand your perspective. and a dedicated trade desk of expert-level support. that will push you to be even better. and just might change how you trade—forever. because once you experience thinkorswim® by td ameritrade ♪♪♪ there's no going back. 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

welcome back to "fast money. the picks are in our very own tim seymour adding paypal and doordash to his team seymour alpha. tim, how are you feeling about your picks >> well, if you're not buying stocks that are down more than 50% from their 52-week highs, you're dave gettleman of the new york giants. you shouldn't be drafting anything and so as i look at it, paypal, although it had a bounce, it had a case where i think you're still getting mid-teens growth i still think it's a company that is as well positioned in payments as anybody and is now trading inside of 22, 23 times doordash is a logistics company. they have over 50% market share.

covid did one thing, it just changed delivery, it will never be the same. the stock is down 70% from 52-week highs. don't love the multiple. as i say all the time with both of these, in this particular game, as we say, you make the most money when things go from terrible to just bad in both of these companies i think you'll have serious, serious follow-through to the upside. >> it's time for the final trade tonight. let's go around the horn tim, back over to you. >> yeah, chevron we have energy reporting tomorrow and i think these energy companies are a place where you're going to see great numbers. >> bonawyn. >> i think right now you've got to be nimble and play the momentum sofi on the back of biden's comments today. >> i said bonawyn back in the house. dan nathan. >> i thought facebook was going to fill in that entire gap at one point. i think it will fill in part of that i'd be a seller of facebook.

>> guy. >> do you take sauce gardner if you're the giants? >> yes. >> unbelievable. valero, vll. look at these refiners, unbelievable >> thanks for watching "fast money.anywhere "mad money" starts right now 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 i'm trying to save you money my job is not just to entertain but to educate and teach you call me at 1-800-737-cnbc. or tweet me. stop giving up on companies you believe in you'll be wrong more often than