as any. kudos to them. we will have more in what will happen in the 3rd quarter and beyond shortly. >> i guess a sigh of relief for many of the company is how we would show it. i appreciate your time. i will talk to you again soon. joining us from jmp security. is he a ceo. the conference calls are about to get going. fast money will pick up and a good one it is right now. right now on fast an amazing surge for amazon. sounding up beat about the road ahead and stocks shrugging off the talk of a looming recession. a two day winning streak for the markets and for the month the s&p is up more than 7%. did the slump set us up for a summer surge. diving in to the fast movers investors cutting the cord on comcast, tech troubles in china. this is fast money live from

the nasdaq market site. courtney garcia. we start off with a big night of tech earnings. check out the action. apple, amazon, infel, and roku. our reporters lined up ready to go. the apple and roku conference call just kicking off. let's straight to steve to break down the quarter. steve. >> let's talk about foreign exchange here. this is something we are already seeing the impacts of on apple's last quarter. i got off the phone with tim cook and he told me the foreign exchange head winds are partially to blame for the 10% drop that they just reported. apple doesn't get former guidance they haven't in the entire pandemic. you can bet this call is starting right now is -- this foreign exchange will be the whole thing. how bad was it and what is apple going to do to mitigate it? i asked the cfo -- he said that -- and then of course at some point we know and certain markets it becomes more and

march difficult to hold prices. let me translate that for you. it means prices for apple products will go up in those regions where the dollar is especially weak. the call that is kicking off -- any updates on the foreign exchange head winds. >> did they talk about the macro environment? about consumer demand? >> we didn't get to that. you can bet on the call that he will get a ton of questions on that. >> thank you. we were all worried about apple. apple ran up so strongly going into the prints and here we are with a gain of 4% after hours. >> i thought the quarter would disappoint. clearly that's not coming to pass. you start to look at numbers. any service revenues which i think people were concerned about. katy pointd that out.

that kim in at 23% of their overall revenues. that's in line where its been. you look at it. 2% year over year revenue growth. that's the slowest we have been in a couple of years. at current levels you say they will earn close to $7 next year which is probably the higher end of guidance you still are talking about a company that's trading at this price at 23 times those numbers. i think that it sort of ran its course. we will see how it plays out. i thought for a while the broader market will run into apple earnings. that's playing out. i thought it would reverse on this. let's see what happens. >> they did comment about the supply chain issues about the cost of sales to supply chain issues were less than $4 billion. they anticipated that the supply chain issues would be better in september verses in the june-quarter. they talked about ad sales, they did address some of the macro concerns as it relates to the head winds the other tech

giants are facing. >> macro concerns having an adverse effect on i-phone demand. that's an interesting comment. it sounds like they are pushing ahead with hiring. they are not slowing. i know there were some indications they may be and we heard that from a lot of these tech names over the last month or so. there's nothing to knock at this one. it's too bad they won't give a little bit of guidance. they gave that color as far as supply chains that you just mentions. i will say this. the out performance of apple from the lows in june, it doubled up the performance of the s&p500. it's trading at 163 in the after market here which is up about 25% from those lows. it's above it's 200 day moving average. you will not find another mega cap tech name anywhere near it's 200 day moving average which shows you that out performance. yeah, some groups like the xle, the large -- staples are above

that. listen. i think some techs, some people who look at the importantance of a name like apple may say this is how we bottom. i don't think that's the case. when you think about what we just heard with the gdp frame and the comments from the fed it's fine that apple is bucking that trend right now. we know they are great operators in difficult environmentless. i think about this a little bit differently. it just won't be able -- this -- it won't end like this. i know that some of us were waiting for maybe apple to kind of ring the bell a little bit and say and confirm some of our worst fears. maybe it just gets pieced out overtime a little bit. >> that could be it. the confusing thing for people at home may be that we heard jerome powell say the impact of rate hikes is lagged. what apple saw is that where we are, is that where we are going or is where we going really a

worse picture than what we just saw through this quarter? >> i think that is what is really important to look at it with apple. i think they had a really good point. they have the increase in their i-phone sales but if qualcom was -- we heard they are expecting for matt phone sales to decrease demand. i think that we will look at last quarter. if we are still seeing that strongness in the consumer which is really important. that can lead to positive things in the market. that's what the markets so happy to see right now is fed came out. they raise interest rates. what was expected. that was already priced in. they are starting to see the inflation is -- some signs that it may becoming down later this year and early next and that could be a good thing for the consumer. >> is appear many a barometer or exception? >> i think that going in a lot of us thought they may be the barometer. as you get to see more and more earnings, it seems like they

are actually the outlier. to dan's point that kind of sets up how you can have a case for a declining market but still have these one off bell weather stock that are able to hold. we were concerned about china and supply chains. the effect is going to affect all companies. i don't think that -- you know you can far and parcel that and then gross margins and how they would go through this current situation. they held in strong in the mid 40s. you know you compare that to -- it's very hard to compare. you compare it to a roku or netflix or countless others. you are seeing increased divergence. while you thought or had concern about apple coming in to the print you know i'm becoming more convinced that apple and the market will continue to divergx that investors will continue to rush to the stock as a safe haven. >> let's get to the other big tech name out. amazon with earnings after the

bell. the shares jumping. they are up 12.5% after hours adding about $160 billion to market cap. let's bring in diedre. >> here is the take away. amazon took its medicine. $6billion charge in costs early their year to clean house and now it's back. it's in a good information as well to take advantage as time -- its competition in a number of different businesses are having to clean their own house. it was such a contrast to wal- mart and shopify and meta in terms of advertising. the cfo said that there has been no slow down in demand. in fact it increased and in stock items returned to prepandemic levels. he also said that they slowed their 22 and 23 operation expansion plans so they are now bet america line with demand. that's speaking to that over capacity issue. he noted that amazon's type of advertising preforms well in a recession. certainly we saw that in the

past quarter. advertising growth was 21% year afteryear. he said that would have been higher but prime day was moved to q3. one maybe worrying thing is that he said that his commenting inflation. he said he sees the pressure remaining and becoming stronger in the 3rd quarter. >> thank you. let's trade amazon here and both the highlighted it in terms of the contrast to wal mart. here is the same question guys. is amazon the barometer or the exception? >> exception for sure because -- i don't think it's necessarily a barometer but they are running better they decided this would be a quarter where they flip that operating margin switch and it came in at 2.7% with the streak looking at 1.4% and aws hung in there. i think that encourages people on the back up of what microsoft said. i look at this and maybe

microsoft should be selling off a bit in the after hours because they didn't operate nearly as well as amazon did. let's play stock market a little bit here. last night i said it was a pair of 2s. if you were playing that you flop two more it 2ás and you have four of a kind. i think the bad news is this 138 level or there is where we bottomed out if you go back in march. this is where we stopped on the downside. then rallied to 160 or so. past support becomes resistant. i think that is what will happen at the form of amazon at 138. >> does it seem like a good trade in a rising inflation environment? >> i mean you want the company to have pricing power and if they are seeing the demand that maybe they have that, i think that some of my problems at amazon are like a lot of your growth companies. the evaluations higher. its part of our portfolio. it's not something i'm actively adding to. i think there's -- a lot of

better values that's not necessarily where i'm jumping in with two feet. >> what's your take on amazon? >> i think it's -- you have the cloud services which off set some of the other areas that even if we aren't seeing it now, reading through the tea leaves you continue to see consumer mints going forward and amazon isn't going to be the exception in that case. the difference is that they do have that cloud and other areas to kind of -- void help the rest of the business. >> are you talking about cloud. guy was mentioning how microsoft should betraying in theory. >> i think its interesting that a theme for microsoft and google over the course of the week was that the numbers held up but they were worse than expected and they are slowing down. when you look at aws while it's a good number 2 it's slowing down too. i guess i wonder if you put that together maybe that is the

thing that you want to focus on as far as what enterprise demand may look hike as we go further into a recession. let's not forget that a lot of these major companies other than apple are just starting to cut costs here. so i think that may be a really interesting theme to keep a track on because we know that some of the biggest companies but many of the smallest companies, the one that are really down sizing right now rely on the cloud services. in we start seeing a meaningful slow down, a couple quarters in a row that may give us a better sense for some of the enterprise demand. the last thing i'm surprised, guy must be distracted. he didn't key on the operating margins that we saw, for amazon and andrew has been in this company for a long time. this is kind of the amazon play book. they spend, they spend, they spend and then they cut back a little bit. they get that leverage in their margins and that's what the stocks start to work again. this stock at its lowest was

down 46% from the time in which andy took over as ceo of the company. i think this may be the period where they cut some costs. they got rid of some of the kind of -- warehouse, cut people and now they are going to realize a higher margin for the next couple quarters in some of the businesses that they had incested in over the last two years. >> what do you say to that? >> i actually -- i know you will listening because aid said this is the quarter they decided to run better and came in with operating margins of 2.7% with the streak at 1.4%. they flipped that switch. dan obviously doesn't pay attention to me. he knows it's the cheapest thing you can do. >> we will move on and all pay attention to each other. we got through the heart of big tech earningless. things don't seem that bad. posting it's first ever revenue decline. microsoft and alphabet adding again. their moves higher despite

missing top and bottom line expectations. take a look at this outside of big tech. wal-mart basically climbed back all the lots on the warning monday for the week it's almost flat. even best by which -- dropped as much as 10% by cutting sales guidance. end of the day up nearly 5%. have we got to where the markets can look through? they look through to the bright side. they look through to jerome powell maybe pivoting and taking his foot off the gas here. we can proceed. >> you can look through the earnings. i think you have seen enough now that it's -- [inaudible] as there has been a -- as for looking through the fed. i think that it'll be a resounding no for me here. i think that people -- generally kind of look through and heard what they wanted to hear. i think the general idea is

that he had a bit of a devilish tone. i heard aspects of it but he repeated dedication of fighting inflation. he mentioned that there would likely be weakness in the labor market. he continued to say that in order for us to move forward in the right direction you need this to see growth, well below. i think that i -- below potential for a protracted period of timeo for for a long period of time. something of that nature. all of the things -- all things there and then you couple in the fact that -- despite the two readings we aren't in a recession. the labor market remains strong. we will continue to focus on inflation and while we continue to see this strength in the labor market that gives you the clear to continue parted on the path we set. we will be more, you know data depending and not give as much guidance in what the next set may be. if the data surprises to the

upside we are back to where we were before. i don't think you can read through that. >> going to earnings and i know thought this -- we thought that this earnings season would be particularly important whether it came to guidance and important in terms what we are hearing about how macro. here we are. things aren't that bad. people wanted to see that last drop and we didn't get that. now what do you think? do we still have that chute to drop or do you think that -- i will put that fear aside and go with what the companies are telling me now? >> i'm going to say you are right in that we didn't get what i thought would happen in terms of some of these forward guys without question. i think that cloud is still out there and terms of microsoft specifically. we go back and just look at the reaction. the initial reaction which is stocks are close around 254 that day. cell off down to 242. it reversed and i know you know this. on the back of comments that

they weren't seeing demand destruction. i will give them that. it doesn't mean it won't happen. you hear from other companies and people are laying people off. cutting back without question. you hear what service now said again. not a bell weather by any stretch. it definitely has some ripple effects. i think we will see it. maybe i was early thinking we were going to see it now. maybe it's just a matter of time. in terms of the fed quickly, we said it last night. people hear what they want to hear. they disregard everything else. that's what is happening now. if the fed is pivoting. i don't think it'll happen. steve said he heard it -- let's just play it out. you know what will happen? the market is going to explode to the upside and the inflation problem that they are still way behind is just going to get worse. >> all right. coming up. more on today's surprise negative gpd print. the stocks, consumer, housing market. top economist joins us in just a fewo to break it down. first we have more after hours

action. all the numbers next. don't go away. fast 120 is back in two. new crepe corrector lotion only from gold bond. champion your skin. finding the perfect designer isn't easy. but, at upwork, we found her. she's in austin between a fresh bowl of matcha and a fresh batch of wireframes. and you can find her, and millions of other talented pros, right now on upwork.com (ted) after talking and texting for years, we got married...

talented pros, right now for the family plan. (jane) and then we really expanded our family... for the wireless savings. (ted) it seemed like the responsible thing to do. (jane) and then, just yesterday, my sister told me about visible. (sister) yeah, get unlimited data for as low as $25 a month. no family needed. (vo) family plan savings without the family. get visible. single-line wireless with unlimited data for as low as $25 a month. in order for small businesses to thrive, they need to be smart. efficient. agile. and that's never been more important than it is right now. so for a limited time, comcast business is introducing small business savings. call now to get powerful internet for just 39 dollars a month. with no contract. and a money back guarantee.

all on the largest, fastest reliable network. from the company that powers more businesses than anyone else. call and start saving today. comcast business. powering possibilities. this is xfinity rewards. our way of showing our appreciation. with rewards of all shapes and sizes. [ cheers ] are we actually going? yes!! and once in a lifetime moments. two tickets to nascar! yes! find rewards like these and so many more in the xfinity app. welcome back to fast money. earnings alert.

shares of the chip maker plunging after a big earnings miss in its latest quarter. it also slashed guidance for the full year. >> wall street expected a bad report but not this bad of a miss where the co even admitted they must and will do better. america's large effort chip maker brings in about 50% of its revenue from selling chips to desktop and laptop makers. given the economic slow down the company was forced to lower it's full year revenue forecast. earnings per share came in 58% below estimates. that's the worst miss in over a decade. then you had the worse than expected quarterly results which saw revenue decline. that's the biggest top line miss with data going back to 1999. we have seen this across the board. chip firms pitch outing to segments and intel's ai unit fell a billion and a half dollars short of estimates. the co just said on the call

they won't hit their gp either. in the press release the sudden and rapid decline in economic activity was the largest driver and the short fall reflects our own execution issues. pat will be on cnbc's check in the 11:00 a.m. hour eastern until shares are down almost 7%. >> thank you. a lot of big misses here. gross margin big miss. operating margin big miss. can you make a case for infel? is it a value stock, a trap? what is going on here? >> it may be more expensive than it was an hour ago. i mean are you right. big miss. operating margin. just -- 9.2%. stream is looking for 18% as half. i can do that mess. a year ago was 34.9%. i -- what they are doing.

they suck at everything. client computing was down. data center down 16%. it's one of the worst quarters you probably have seen this entire year. i'm not going out on a limb and to answer your question about being is it a value -- i'm not sure what it is. at a certain point it'll be a turn around play for someone. not at these prices. >> courtney. >> i think that the biggest problem i see here is that they have a demand issue. that's been the issue with chips in issue is the demand that has been a problem for them. you are seeing come to light with intel. longer term, you are looking at this year it's a problem that 15% of computer sales are down 15% from a year ago earlier. it's half of their revenue. i don't think this is something that you want to [inaudible] by any demand. >> what wow like to hear from

pat tomorrow? what -- what question do you want to ask? i wouldn't know where to start with this. i there are so many things to ask about. >> i would probably drill down in to the data center. 50% of the sales generated from pc and we know that -- that is kind of been proven to understand that. can you please explain that or -- why we have the under performance in this particular segment which you expected to do? then further more can you please give us more detail on what [inaudible] is and perhaps how government spending may help be somewhat of a mattel and then i'm trying not to kick a mother down. i'm grasping at strawing. it's -- the real question is can you please explain the size of the miss? that -- there's not much else to ask. everything else is in the numbers. >> and they talked about the

industry issues and their own execution issues and you have to wonder where the dividing line is and the numbers assigned when it comes to the two buckets behind the short falls. >> courtney nailed it. the demand issue has to deal with execution with different processes, and -- companies like amd and just got in the head of them and you think back to a couple years ago. you remember when third point took the stake and they brought pat and they were thinking about separating certain businesses and they did a strategic review and they had a restructuring and here we are two years later the results bad. the stocks lower i this ty its interesting that if this stock opens here tomorrow it's probably going to have a similar market caputo amd. we talked about that a little bit in the past. it's not so important other than what you think about the intel is likely to have three times the sales and it just shows you that wall street

investors are just having none of this. it'll be interesting to see if there are activists to take a stake here. there are things that can be done to maybe accelerate a bit of this kind of restructuring or look to unlock share holder value with some of the faster growing businesses. >> coming up we are keeping an eye on the big stock marks. apple and amazon. it's up 12%. the detail as head. david joins us to look at the macro headnelis. where the market stands next. you -- live from time square. back after this.

bubbles bubbles so many bubbles! as an expedia member you earn points on your travels,

and that's on top of your airline miles. so you can go and see... or taste or do absolutely nothing with all those bubbles. without ever wondering if you're getting the most out of your trip. because you are. ♪ ♪ how's he still playin'? aspercreme arthritis. full prescription-strength. reduces inflammation. don't touch my piano. kick pain in the aspercreme.

now there's no doubt we expect growth to be slower than last year and -- for the rapid clip we had. that's consistent with the transition to a stable, steady growth and low erin nation. there will be a lot of chatter today on wall street and monday pundits about if we are in a recession. if you look at our job market. consumer spending, business investment. we see signs of economic progress in the second quarter as well. >> that was the president sounding very confident about the state of the economy following today's negative gdp. they worry that home sales dropping fast, mortgage is at their lowest level in 20 years. real capitol spending on a negative track and the labor market is nowhere as healthy as it seems. it's good to speak with you. civil it? >> i think so.

isn't that what the fed wants? if you -- if what you say is the truth and that we are headed for a much sharper slow down, more quickly than others think that means the pivot is closer than we think. >> i'm not sure about the pivot depending on how you want to define it. there was a change in tone and strategy going from precommitment to raise rates -- to the data dependancy. it'll take a lot for the fed. we are talking about a pivot in terms of cutting interest rates. the fed will have to see theist whites of the eyes. in the meantime they made it very clear that there are willing to accept a very weak economy to achieve their goals. the only chairman that's ever raised rates in to i's a recession was paul volkner. senator shelby, you know powell

compared himself. not to argument their burns and william miller and allen green span but to paul volker and we know he killed inflation by killing demand for the greater good down the road. i think that is the road that we are on right now. >> you know if you hear about an economy that is slowing in growth but nearly everybody is employed. there are plenty of jobs out there. then you put together what we are hearing there these tech giants like amazon which strengthens throughout the quarter in demand. i-phone demand. do you put together a picture that maybe it is possible that there is a soft landing to be had? >> i have never seen a soft landing, you know, with negative prints, unreal gpd. there is actually negative momentum. it's day set in to the 3rd quarter. a soft landing not a contraction economy. that's when the economy is

growing below potential. that's not happening. economy is contracting. i understand that j powell won't raise rates 75 basis points and talk about how horrible the economy s he can't possibly do that and keep a straight face. to talk about the labor market. it's the last thing to go down in a recession. the fed is actually following lagging ind icator s and people should know that. they are focused on the unemployment rate and that's one of the conference board parts of the index of lagging indications. is that what you want to look at? not for payroll is in the index of coincidence indications and net farm payrolls have never given you the recession signal as its been happening. the only two of the labor market that make it into the conference board leading cases is the manufacturing workweek

which is rolled over significantly in the past three months and initial jobless claims. that's the leading indication and they are up more than 50% from the lows and that's a recession signal. i would say that it's immaterial who want to drive by looking through the front window about what employment is doing today. it lags the cycle. i would like to ask where do you think employment will be three, six, 12 months from now, not where it is today? the chance is the labor market will look a lot dylan it has in the past 12 months. >> david in terms of the market i think that it's -- i think its taking it's cues over the last couple days because the data has been so weak and because there is this belief that somehow the fed can take their foot off the gas in terms of hiking and may -- even be accommodating again again. ly play that out and say you want to play that game? if that's the case the thing they want to flight is just

going to get worse again because commodity prices will explode to the um side. plus on that. >> i guess that you can say that words matter. actions matter more. and the reality is that powell still retains the defacto -- in the old days a [inaudible] bias. they didn't have an [inaudible] bias in the press statement. they had a tighten bias. all he said was now that we have gone into nuetral we don't have to precommit to 450 or 75 basis points anymore. that stuff -- i don't know. i know what the stock market is -- a certain way. we all know that the market just do what the markets do. if it makes sense or not. i'm not going to say. i think it would be ridiculous to say that powell was dovish. he said we have a tighten vice on the books. he will be date independent entity. if we print negative payrolls orrin nation comes crashing

down which might happen, given what's happened with food and energy in the past little while. maybe they will go a small amount. maybe they won't go at all. we will probably have a better fuel for it with the -- in august. the sense that he pivoted or the sense they turned -- what we know with certainty. we know with certainty that what the fed does in time a has the impacts on the economy, four to six quarters down the road. they just start hiking rates in mark. in the face of a recession that they didn't anticipate. when we went into this, the fed. fed gets accused of blowing it on transitory. they are calling for 4% real growth this year n june they cut it to 17. now we will be 0 to slightly negative. so, they bunled the real side of the economy so maybe that's what they want to kill

inflation and the economy is going going to pay the price for this. this is -- i don't know the extent to which or the size of the recession. i know it'll last a lot longer than people think. we have had two quarters of negative growth. a lot of that is from the fiscal policy contraction. that's contracting at a record amount this year. nobody talking about the fiscal drag in the economy and what the feds have done. 225 basis points haven't shown up yet. that will be next year. they can go on hold. i don't care. they can go on hold in september and the markets may go through another extended bear market rally. the risk is having tightened into the recession and this is a recession. having tightened into the recession and not seen all the lags kick in yet. it'll continue probably not just -- two quarters but the next four. that will be -- that will be the -- the real come uppance for the risk assets. it may not be a deep recession

but it'll be lasting longer than we anticipated. >> david, thank you. get your thoughts. >> thank you. >> david rosenburg and nathan. >> listen. i followed rosie's work for 20 years. he thoughtful as it gets. one thing i think is his super power is his ability not to be in consensus. that means he will be early sometime but i really think that he has had this call correct. i know that some of us and i think he was in that camp that thought that inflation was going to be transitory. that will be semantics. look at hue we have seen all of these inflation [inaudible] his point is a really important thing they made -- where they screwed up expectations for growth. keeping their foot on the pedal of the monetary policy last year. when i think -- he said to me i think investors better be prepared for longer du are,

tax, ion of recession. the s&p500 down 15% on the year. no matter what you think you just heard from corporate earnings over the last two weeks is not going to show the recession of that we are likely to have. we didn't get to make but you saw it up on the screen was what he thinks about half -- on housing bubbles here if that -- that and the stock march set and all these other recession factors i think not a great set up. i do expect the s&p500, they could maybe go a little higher here. i expect a retest of those lows. >> coming up, we are keeping an eye on the big tech names on the move in extended trading. apple and amazon on the move here. amazon still holding on to the 12% gain. jean is back with a break down of the cpaomny quarters next. check out phizer. the move sparking interest in the options market. the details when fast money returns.

♪ in any business, you ride the line between numbers and people. what's right for the business and what's best for everyone who depends on it. solving today's challenges while creating future opportunities. it takes balance. cla - cpas, consultants, and wealth advisors. we'll get you there.

welcome back to fast money. we have another report on roku. shares plunging 25%. that's the worst drop on

record. >> that's right. roku missed expectations on the top and bott open line and most concerning for incestors it gave a graham warning about what is a head. guiding to 3rd quarter revenue of $700 million. that's far short than $902 million that analysts anticipated. the ceo anthony wood writing to share holders, in 22 there was a significant slow down in tv advertising spend due to the macro environment. that pressured the platform revenue growth. the platform warn that given the economic environment it's withdrawing it's full year revenue guidance. it would be impacted consumer spend will moderate pressuring both rokutv and player sales. on the call that is map happen now wood seems to be trying to strike a positive note saying that they are confident that the tv ad dollars will continue to shift over to streaming. the roku headline of that ad

and spending decline could bode badly for the media giant such as paramount, warner brothers which are discussing next week and disney the week after that. >> thank you. sticking with tech earnings let's look at the after hours. both the calls underway right now. let's bring in -- he has been dialed in to the call. what are the highlights so far? let's start with apple. >> they guided revenue in line with expectations. you have to do some decoding of luca's comment. basically there's a big fx impact. 6% impact in the september quarter, you highlighted this in the call. that in fact happened. you need to factor that in when you do that essentially it looks like the numbers for the september-quarter on the top line will be in line with expectations. on the profit side they gave margin guidance that was below where the street is at for

september. they normally exceed that guidance. i think when you put it together it was essentially a cost is clear. it was a september-quarter. this is something that i was most nervous about going in to the call. giving some of the discounting very been doing in china and i was happy to see them guiding line. >> and for amazon. >> amazon, all the good news came on the -- on the put the press release out. the one take away is this is accelerating revenue from 7% in the june-quarter to 17%, why is amazon out pacing wal-mart? the reason is that e commerce is still in its infancy and am don is roping that. 20% is bought online in the united states and amazon is benefiting that. >> ly ask you to pull owl the history books for this. that is how do these two stocks react in general to, you know, recession environment and i'm asking this because we had this sort of question. if rate hikes impacts aren't

for quarters in the future and we are getting a snap shot for what was the second quarter for the 3rd quarter at this point. we haven't seen any impact on the consumer yet. maybe these results while good aren't really reflective of what the environment will be. >> the history books would saito just look at the body of data that he with have and in this case we have data points from some of the big tech companies and some of the traditional companies. my sense is that the traditional companies, big companies are stumbling. they are missing numbers and guiding down. you see the result from i guess apple in particular. the strength in it and i think that what's going on is simple. there is a break here and i think that it under scores the dependancy if it's on apple or amazon that we -- just year in and year out. i would -- so i think that they will do better.

we are seeing them do better which means investors can sleep better at night owning companies like apple and i would just offer one final piece. that doesn't mean that apple is going to be immune to any of the head winds. things can change. this was a really -- the september guide was a huge tell about the strength that they have and they are conservative team and they optimistic. the simple take away is that every company is going to be impacted and apple in particular is doing a better job. people just want their products more. >> thank you. always good to speak to you. we should note that apple has paired some of the -- now up 2.8% verses the 4% we saw after the print. courtney it's back. the idea that big tech kept may be defensive, may be the stock you want in a growth environment and in a contraction environment. it's -- all weather stock. do you believe that?

>> i'm a little careful on that. i take apple. they is a lot of carbon their balance sheet. it's something that could let them weather through a down period better than some of their competition or smaller companies. it's still trading at a higher evaluation. it's trading out higher than the nasdaq is. i think that i would still want to look for some of the companies that are cheaper here. we own t i want to hold it for the long run. i don't want to be actively adding a ton more cash here. >> shares of phizer reversing course on the back of earnings and that at auction traders. so many choices. so little time. the traders have their es onye a company of today's big movers. more on that one when fast money returns.

phizer setting out. option traders betting think will find themselves back in the green. >> almost three times the average options. the most active the ones that expire at the end of next week. we saw 5,000 of those trade for

about 55-cents. just under 12,000 traded. they are best if the stock could rally 4.5% by the end of next week. >> thank you. don't miss the interview with the ceo on mad money. jim has that at the top of the hour. of course from our options action. tomorrow is the full show at 5:30 p.m. eastern time. coming up we are homing in on today's big stock movers. which names should you watch? the traders have their choices when fast money returns.

(ted) after talking and texting for years, we got married... for the family plan. (jane) and then we really expanded our family... for the wireless savings. (ted) it seemed like the responsible thing to do. (jane) and then, just yesterday, my sister told me about visible. (sister) yeah, get unlimited data for as low as $25 a month. no family needed. (vo) family plan savings without the family. get visible. single-line wireless with unlimited data for as low as $25 a month.

as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network with no line activation fees or term contracts... saving you up to $500 a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities. dad! a dinosaur! it's just a movie. no dad, a real dinosaur! show doorbell camera. the new xfinity video doorbell works with your xfinity home system for real time alerts no matter

what's at the door. get off the car... it's a lease! jurassic world dominion, available now on xfinity. rule your home security with xfinity home. welcome back to fast money. comcast, sink more than 9% despite beating estimates. they added no peacock subscribeerns in the quarter. > >> for the first time ever. everybody's darling last time. nobody loves in this year. 37 which it'll probably get to will make a huge double bottom from the spring of 2020. i think you can buy it there. >> up next chinese tech stocks

sliding. 200 companies could face audits. dan. >> yeah we often use the term uninvestable. these are great growth stories. the economy looked different. the global economy looked different. they are still uninvestable. these will continue to be an over hang. on the plus side etsy surge nearly 10%. bono in. >> mel you know i'm here 20 spring until a little joy. this is kind of the -- you have seen the consumer say consumer is suffering. and for -- a company that was very much the pandemic darling to knock the cover off the ball jumped out to me. >> all right. finally ford shares revred up. they reaffirmed guidance and raised the dividend. courtney. way. i like here is not only do they

beat their quarterly estimates but they kept their full year guidance which is really important. you are seeing the consume certify getting constrained by inflation. it's not a problem in the car industry. they are not able to sell cars as fast as they can make them. there's so much pent up demand after the supply chain issues. i think that's going to be a positive catalyst for them going forward. also you can look at them. i talked about this previously in the ev space. we saw their ford f150. that increase by 32% last month in sales. they are excited to have 2 million electric vehicles and they have 70% of that battery ng tm ty. loererit trades at so much cheaper than some of our competition. >> up next final trade.

one of the nice up trends since that mid-july low. >> courtney. >> i talked about -- it earlier but stick with the companies that aren't having demand issues. they are one of them. >> shout out to our old friend josh for a great first quarter at apple there. also facebook, meta, i'm starting to build a position there. >> hi josh if you are

watching. guy. >> mel i know you love that bet move. its right up your alley. >> 100. >> yeah. 100. qualcom makes you wonder. after that intel report. >> all right. thank you for watching fast. with he will see you back tomorrow at five. don't go away. 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 bulw ark in summer. mad money starts now. >> hey. welcome to mad money. welcome to kramer. i'm just trying to make you some money. my knob is not just to entertain you but educate and teach you. call me or tweet