immense opportunity. >> all right it is been great having you. thank you so much nicole we'll see you soon we'll keep our eye on tesla. on pace for the worst month and worst year ever. new low today and the conversation swirling around that stock i'll see you tomorrow. have a great night "fast money" begins right now. >> right now on "fast," tesla high speed crash, from the denting of elon's once pristine image. is this rock bottom for the red hot ev maker or is there more pain to come plus southwest canceling more flights today where so many were left stranded we'll go into the reputational impact. and beijing ending the quarantine, and will this bring a spending boom or just new waves of covid maybe both

i'm melissa lee. on the desk tonight. we start off tonight with tesla slumping more than 11% the worst performer in the s&p 500. now down seven days in a row today we learned that the company's extending its pause on production in shanghai, seeing closing an extra 11 days until the start of february. and the used car prices for tesla is tanking and that is taking down new car prices in all, tesla has lost $117 billion in market cap that is about the size of an entire goldman sachs, or a boeing or even a starbucks the mighty musk empire has seen more than $700 billion in market value go up in smoke that is mcdonald's and nike combined and just how bad things are. this is the front page of drudge this afternoon a picture of musk with flames engulfing him in the back ground mike khouw, the value on top of

this 11% decline was extraordinary, it was triple the 30 day average volume. what did you make of the sell-off >> yeah, i mean, look, when you start seeing their cars piling up on lots, when you see the company offering incentives which they are right now, although i don't think they're calling it that but you could get a $7,500 discount on y's and even high priced for gas and california, that is only a $500 value. but the fact is that tesla for a long time were the used car, people would buy them and flip them the demand is not there. and of course that is going to cause people to wonder whether the growth projections are sustainable and they're going to wonder whether the margins are going to be sustainable and if you see those kinds of things, you'll see the multiple come down that is what we're seeing. >> there is all of that plus interest rates today the ten-year yield didn't help any of the growth stocks

overall victoria and didn't help tesla in terms of lighting the fire under that decline. >> you look at tesla and it is a broken growth stock right now. at least that is how we view it. so it is not something that we think will add a lot of value to your portfolio the fundamentals aren't there. mike was talking about the production issues and the inventory that is sitting around for them i just don't think you have fundamentals to support the pricing that you see on this even though the price has come down considerably. where i do think you could use it and where we're using it is in our cover call strategy because of the volatility of the pricing, then we can right those calls, sell those calls on those, roll them down as the price changes and continue to generate premium that is one way to use tesla stock in your portfolio without a pure long holding. >> courtney are you getting inquiries from your clients about buying tesla isn't now a good time to get in after this huge slide? i would imagine there are plenty

of retail investors are thinking it is so bad, it is good to use a phrase carter worth uses. >> i tend to get the questions as the stocks are hitting a top, not necessarily a bottom which is a bullish sign when everybody is trying to get in. i'm not getting a ton of it. so maybe it still has room to go down but it is facing production cuts and they're having to offer incentives which is never a good sign and on top of that we have elon musk who spending a lot of time at twitter and selling his stock over at tesla in order to benefit twitter when he said he's done with that and we don't know for the time being. and realistically, tesla is an auto company and if you compare this to a ford, which trades at five times earnings and tesla trading at 21 times earnings, it is more than five times expensive and still a at a premium to the market and it is not something i would touch currently. >> we should note when we're citing used car prices for tesla, the declines are steeper

than other used cars, i don't want to make it seem like we're picking on tesla per se. but it is notable because decline in the used car lot has been steeper for tesla mike, at some point this will look interesting at what point is that for you? >> one of things that we have to factor in here is that -- and one of the reasons that trading over 20 times earnings is we were just hearing, relative to trading at just over five, we expect to see good top line revenue growth this is still a fast growing car company and but it is a car company and trading at a premium. one of the reasons that the used car prices did fall is because there was such high demand in fact, their 2022 used cars were trading at a premium to the new one. those who wanted to get them more quickly were buying them who put in orders sometime before so that is a very different

dynamic than with other makers and i think that is explaining, in fact i think we saw this in the percentage of used cars for tesla that were recent models. i think 25% of the used car were 2022 models so people are buying them weren't buying them to own them and drive them. they're buying them to flip them and that is speculative and it is in the stock and the cars too. >> it didn't help, that we saw gas prices come down pretty sharply, pretty quickly in the same time frame where we saw tesla used car prices come down as well. when gasoline prices are high for sustained period of time, they don't have to be record, but for a sustained period that is bet fore ev makers but when they come up and back down, that is not a great scenario because people see things will get better with a regular car. >> right an that is not just a reflection on tesla we see it for all carmakers that are making electric vehicles but because tesla has such a large

market share you see it there the most and we are in the winter season. with you know that battery life is less in cold weather. we just went through this huge winter storm where people lost power so they couldn't charge their electric vehicle cars so i think we'll continue to see struggles for tesla on the demand side a little bit for new owners, that is different than what mike is talking about where they buy them and they flip them but think we'll have a little bit of a cool off through the winter season and as gas prices come down. we'll see that if that turns around into the spring and summer of next year. >> we have technical difficulties with steve grasso so steve, you're take on tesla is it so bad it is good at this point? >> i think it is getting there, melissa. so when you look at the chart, it looks horrific. but so does rivian and so does lucid and other ev names i think people try to make the leap that it is musk over laying

over the stock i don't think that is the case i think you're seeing just the ev weakness. maybe he hit -- started it and it became precipitous, a fall in tesla is kind of migrated to every other ev name. but it is almost getting to that point where it is so bad it is good i've used the analogy of pulling rabbits out of a hat every time we count elon musk out, something happens with the man and the company or something. and i don't want to call it smoke and mirrors, but it is still the name to be had in the ev space although, every other automobile maker has competition finally. >> yeah. i mean that is coming to fruition finally that is been the case for so long there is all of that competition and now it is here the ford f-150 lightning, that is a hot selling pickup truck at this point and it is one of the countries best-selling pickup trucks just

engine wise to electrifying it is a good thing for ford courtney, tesla has the advantage. it had the brand name and reputation for a while unless you think elon musk's image is permanently tarnished. is this a bet, let's back off the "fast money" moniker for just a minute. for next three years, would you say tesla or apple >> tesla or apple. that is an interesting one i still think i would take like an apple over a tesla right now. i just think -- >> for three years >> over three years. yep, i actually still taking apple here i think tesla is coming down herech it is not to say that it doesn't have room to come down i think it is getting close to it is so bad it is good. but i still think we're there. you're comparing ford to tesla just a minute ago, the valuations are extremely drastic. a tesla trades at more than four times as much as a ford does and that will come down. ford is putting all of their

eggs in the ev basket and that will put pressure on tesla, whereas an apple, i think parts will still be needed and they have the benefit of a really positive cash position would you take an apple over a tesla here. >> mike khouw, i saw you do out, apple or tesla over three years. which one would it be. we'll talk about apple later on in the show. but what else are they going to get the growth from? service revenue is the catalyst and that is enough, and in three years who will see the biggest gains? >> in terms of revenues? >> stock price. >> well tesla will outgrow apple over the course of the next three years in terms of revenues and earnings does that justify the current multiple, i can't say. but a big distinction when we look at a company like tesla relative to every other auto manufacturer is the infrastructure issue

they have the supercharging network and nobody else does if you drive electric vehicles for any distance, and we have two of them in our household, coy tell you this makes a big difference one of them is a tesla and having the supercharger network is a big deal. i don't know that people are factoring that in. i think it is helpful for ford they'll sell evs but it is not huge revenue growth so their stale a car maker and working within the dealership and a legacy automaker, tesla doesn't play by the same rules and they are going to grow and they're going to grow materially over the next three years. >> our next guest thinks investors should brace por more pain at tesla but there is a long term bull case to be made gene someomunster is with us what part of this goes away in terms of the covid situation in china and the shanghai factory back up and running and what part of this isp a fundamental

issue with elon musk being distracted at twitter. >> i think 80% of it goes away ultimately you have the vortex of negativity and used car prices and at macro, all of these are trans transittory, to use a fed term but i think as -- if it is undervalued here, i think there is still some near term and the market is on pins and needles until january when the december deliveries come out. and the december deliveries will capture the piece that -- of the 7% discounting for the month of december that is the impact profitability. so you'll have -- i think you'll see a sigh of relief on the delivery number near term and then investors start to get nervous about what they'll report in three or four weeks

around earnings. so we're not out of this that is why i talk before brace for more negativity, especially given the temperature of the market and it's a risk off market but i would come back to this question and i forget which of the panelists talked about this today, is this a tech company or a car company and that is the bigger question. if you think it is a car company, you should own it that means that they'll have minimal market share and they're mae margins will go away and other companies will catch up to them. if you think they have a competitive tech in manufacturing, whether it is a battery that will yield higher margins than typical and there is a massive market, so melissa, 80% of this is a vortex over the next month i think the bigger question investors should be asking is this a car or a tech company f. you believe it is a tech company, you should own it despite what the stock is trying to tell us i think long-term it goes higher. >> that question has been the existential question facing all

investors for sometime when it comes to this stock, gene. but how much of the mark cap returns? how much of the multiple comes back >> if you think about 2023 and 2024, this is a stock representation, but i think it does come back it is right now it is trading at 2.5 revenue, that number might be too high. i think apple is a good comp and it is hard with the integration revenue trading at five times right now. so i think you could retrace apple's multiple and retrace some of that gap and i think, you know, essentially what investors need to see is straightforward. they need to see the delivery numbers an profit numbers and we're a month away ifrom both of those. it shows that the line is still in tact. and i think the multiple could have some form of a rebound. >> gene, it is steve so i'm going to ask you what

melissa asked us what do you think in three years out, i'm going to play would you rather virtually unheard of with gene munster would you rather apple or tesla, three years out? >> i think apple and the reason is, to this idea that apple is getting in the car business. i think mark from bloomberg does a greet job of covering this and he's been spot on. if you read his published work, he thinks they're going to do a car. if they get into the car business, that has a positive impact they could double their revenue over the next ten years based on a car business i think they'll have some pressure on tesla. so i think both of these are going higher it sounds like they're out of touch with reality and i think this is -- think they're getting into segments that are far from priced into apple shares right

now. >> gene, quickly, because we're out of time. if elon musk reduced his role at tesla or becomes chairman, does the stock go higher? >> yes i think it does. just for the simple fact that it is areassuring investors that he's putting his attention and that helps investors sleep well at night investors sleep well at night, multiples go up. >> gene, great to have you gene munster loop ventures. victoria, your thoughts on that very question. is the company better off without an elon musk now >> i don't know. that is a tough question i mean, he is tesla. and so when you think of tesla, you automatic think of elon musk you think of the genius that he has and the innovation that he's brought. so i think that is kind of the competitive advantage that tesla has right now. does that wane if he's not there? maybe, i'm not sure. would you rather see him reduce his role at twitter and take the main role at tesla and give some

support to that stock. fundamentals are not supporting the prices that we're seeing maybe if he gives more attention back to tesla and gets that innovative component back there, perhaps we see stronger fundamentals there. >> up next, a less than lovely w weekend for passengers of southwest airlines thousands of flights cancel and flyers stranded and it could take days for things to get back to normal. we'll break down the nightmare before and after kpchristmas. and later the border travel in and out of beijing could it lead to a massive spending boom from chinese weary consumers. we'll break it down. "fast money" will be right back. ♪ icy hot pro. ♪ ice works fast... to freeze your pain and your doubt. ♪ heat makes it last. so you'll never sit this one out. icy hot pro with 2 max-strength pain relievers.

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welcome back to "fast money. the bomb cyclone wreaking havoc on holiday travel. flightaware said u.s. carriers canceled 15,000 flights over the long weekend southwest counted for 60%. that is 9,000 flights in the last two days and more than 12,000 since friday. southwest said it could be several days until things get back to normal the department of transportation saying it will, quote/unquote

slowly examine southwest's mass cancellations and check whether the airline is complying with certain dot rules and several members of congress weighing in on that. the stock down 6% one of the worst performers on the s&p 500. courtney, you feel the pain personally from this one you are someplace where you are not normally are the airline stocks had a bad day over the board. >> yeah. unfortunately i felt this firsthand. i was on a southwest flight. me and my husband and my one-year-old baby and dog got stranded inial bic urk wy. but long term despite my issues with southwest, i do still like them as a stock. because the travel demand is going to continue next year. and southwest has had one of the better balance sheets among their peers right now. they actually are among airlines with the highest cash per plane right now.

and i do think they're likely going to continue that going forward and as much as of this a headline and people are upset, i think this will fade away. we'll all remember this christmas where we couldn't travel but a lot of it is weather related and i don't think people will stop flying southwest because they have a very niche target where they fly direct to get you from place to place. i don't think their loyalty customers will stop flying them because of this. >> they're low cost but things get better but southwest is the only one where the headlines are focused on if it were every single airline, maybe there could be safety in a crowd. but southwest is being singled out here. >> exactly and courtney is 100% right on the balance sheet. pre-pandemic, we're going floor this, i believe it was southwest and it was delta, might have been united, but delta and southwest stood out for their balance sheet. i think this will blur into the

back ground eventually but to your point,this is the billboard, also chicago, denver, these were where the issues were so maybe that is the reason why this one underperformed the entire group because everyone wasec effected. so we have all have family or friends stranded in an airport, but when this gets the headlines, this will be a blip on their earnings but people will not fly because they heard this story so this could last a little bit longer than a one-day, one-week, one-month event. because people will listen to their friends and family and not get on southwest for the next quarter. >> the action was heavy in the options market, mike you saw this earlier today >> yeah. this one traded more than 16 times its average daily put volume today it was the 21st busiest single stock option it is not one of the names that typically is in that top 50 list the most accurate options were

the weekly 34 strike puts we saw them trading for by 52 cents and it did fall 1% from midday into the close at which point the next lower strike, the 33s got busy southwest has a focus on more discretionary travel than say, united the one that could decide they're not going to go or go with southwest and so i think that is one of the reasons we're seeing this activity people are thinking this is going to have an impact that could last for the next couple of months anyway. >> for more "options action," tune into the full show on friday, new year's eve eve, 5:30 p.m. eastern time. here is what is coming up next. >> announcer: a chip glut. what a difference a mere makes for the semiconductor companies. we'll dip into the chip trade later. and a special december dogs

edition of trade it or fade it could these zeros become heroes next year. year watching "fast money" live from the nasdaq marketite sin times square we're back right after this. you ok, man? the internet is telling me a million different ways i should be trading. look! what's up my trade dogs? you should be listening to me. you want to be rich like me? you want to trust me on this one. [inaudible] wow! yeah! it's time to take control of your investing education. cut through the noise with best-in-class education resources that match your preferred style of learning. learn your way. not theirs. td ameritrade. where smart investors get smarter℠.

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and your digital transformation is helping find new ways to unlock energy around the world. welcome back to "fast money. check out the slump in semi stocks nvidia and marvel and xp, all deep in the red today. as chip inventories swell as consumers are buying fewer gadgets, slashing production plans amid the weakening demandch it is the glut issue that we've been talking about for sometime. >> this is natural

right. every corporation that runs into a supply chain issue both in normal reaction is to overorder. so if you need, you know, obviously some simplistic, if you need three sets, the truth is they've only used four. so if you're ford or gm, you don't want to sit there and have no cars on the lot you over-order the chips and then the next layer of the problem is going to be there is going to be new chips. so everyone already ordered these inferior chips for a computer and you're driving around in a laptop, you wouldn't drive around in a six month old laptop so you have to get the newer chips. this goes from a supply issue and now we're in a glut, we went from drought to glut and i want to goo back to the pandemic low and look at these on a three-year chart, none of them are near the pandemic lows so there is potential for these all -- all of the names in the entire sector to fall quite a

bit more >> yeah, you add to that on top of it, victoria, the consumers have tighten budgets these days and interest rates are higher on their credit cards, et cetera. so you have that headwind as well. >> absolutely. and, look, this is a high beta sector name with the semis and you have all of the concern about demand going away from the consumer, they're going into a recession next year, so it makes sense that as steve mentioned there could be more potential downside for these names so unless you think there is an all clear, which we don't, but if you think we're all clear going forward, there is going to be a soft landing and the economy is going to just bounce back, i don't know why you would want to put too many eggs of your basket here in a really highly cyclical, highly beta sector >> what you wanted to put one egg in, mike what kind of chip maker, what kinds of chips, what kind of end market would you want to be exposed to

>> you know, ultimately i think i probably want to be in the gpu space. but the problem is that that is the sector with a little bit further to fall. you take a look at a company like nvidia for example, as far as its come in, it is still trading at a premium to the market relatively and you have to consider what was fueled all of that demand if you think about the use for these chips outside of the crypto, for example, that growth is going to continue but i think we'll see more downside here first. first of all, cryptocurrency wouldn't come back and people won't fall all over each other to get the at-home gpus and people who use it for video and gaming, that will increase but it is a question of multiples an the multiple is still a little bit too high here. >> we had a lot of miners close down in the last couple of weeks. courtney, do you have any eggs in this sector >> yeah, i mean, it is part of

the our exposure but not something we're actively adding to taiwan semi looking more attractive here. but also it is one of our largest holdings in our emerging market so it is playing semis but emerging market, but if you are looking at names, that is the one you want to look at. >> coming up, will covid zero create more chaos for consumers. and plus investors taking another bite out of apple. falling to a new 52-week low today and that trade and more when "fast money" returns. >> announcer: get your trades to go with a "fast money" pod past. cap us any time, anywhere. follow today on your favorite podcasting app we're back right after this.

welcome back to "fast money. another check on the markets today. a mixed day for the markets. without posting a modest gain and the s&p finished down under half a percent and the nrds falling 1.4% the ten-year rising 10 basis points hitting 3.85% yields in germany hitting an 11-year high i'll go to victoria, the

self-proclaimed credit nerve who do you make of the bond market action? >> don't blame me. i love the bond market i managed fixed income portfolios so this is really exciting for me. we're up to a 385 and you mentioned the german boons and you mentioned the yield curve offer the last week, you have twos to tens below 50 point spread and that was up above 80 not that long ago. and except for a dip at the 20-year mark today which is unusual. we haven't seen that in a while. so i think that the market is telling you, look, we've heard the ecb, they will continue to move rates higher and we heard what the boj is doing, even though this is not a true shift in their policy, they allowed the yield curve to go higher and so you have the market saying, look, yields could go a little bit more i don't think we're going too far above where we were earlier in the year, the 425, 430 level

but i think we'll make our way back up there. the difference now is to look at that versus credit spreads credit spreads have tightened. which tells me we're not seeing higher yields because people are concerned about the economy. we're seeing higher yields because of fed funds rates and central banks but they're actually pretty confident in what the economy is doing with credit spreads remaining tighter and only out 30 basis points or so on ten-year paper for the year >> well china's decision to relax covid zero policy is coming with deadly consequences. covid cases spiking and hospitals being overwhelmed. now ready to end the travel quarantine january 8th investors cheering the news. the fxi and the etf and the k-web both finishing with strong gains, our next guest suggests there is too much optimism for a post lockdown economic boom. steven roach is now a yale university senior fellow

great to have you back is china worse off in terms of the economic growth ripping the band aid off so to speak, versus keeping to the covid zero policy >> no, melissa i mean china is going to rebound next year in part because of lifting zero covid and also because of stimulus to the property sector. butp it is going to be a muted arena and most importantly don't use the -- the u.s. reopening experience as a guide to what to expect in china. the behavioral shock that occurred under zero covid is going to be long lasting and meanwhile, in dealing with this highly transmissible omicron, they have lousy vaccines, they've undervaccinated the elderly and limited intensive care unit

capacity in their hospitals system so, you know, again, it is going to see a dead cap bounce but it is not going to be great >> in terms of how -- of economic growth, steven, the fact that it is going to probably hit the elderly population the hardest and i don't mean to sound callous because this is no laughing matter at all, perhaps that might not dent the economy as much simply because this is not the working part of the country. it is not the sort of the young males, young females who are out in the factories, out in the office buildings, et cetera. >> well i'm going to stand up for the elderly, melissa, in china and elsewhere. they're a large and probably the largest growing segment of chinese society. and you know, they're ability to cope with this irus, with very

inadequate vaccines and being undervaccinated and seemingly unwilling to take the jab here, it does have a pretty pervasive impacts on the entire sort of social consciousness >> what would you be advising businesses if you were back in morgan stanley, in terms of how to navigate this free opening which people will want to map it out according to what they saw in other countries but this is going to be very different and also it is different because we won't necessarily know official government numbers in terms of deaths and the true impact of all of this. >> i certainly would be cautious but again, don't just apply the trajectory that we've seen in more vaccinated economies like the united states or europe than

use this highly successful m&a vaccine technology and recognizing that what china has been through over the last few years, but especially over the last few months, with this zero covid is likely to have lingering behavioral aftershocks. so, just because they have done a 180 on policy, does not mean that the economy is going to spring back miraculously as we've seen in other better protected more vaccinated systems. >> hi, steven, this is courtney and thanks for joining us. i'm curious, you mentioned earlier, you cannot compare the china reopening to the u.s. reopening. the kind of demand that we saw going back in the economy. i'm curious why you can't make that distinction, one versus the other because we saw quite a boom here in the u.s., one would believe that would happen in

china. i guess what would be your argument against that? >> and again you have my sympathies for driven 12 hours from wherever it was, albuquerque. >> thank you >> but the aftershocks that china is going through right now are really pretty traumatic for this rapidly under-vaccinated segment of the society they have most of us with zero covid, but the one thing that you could say about it that was positive was it was a very well thought out draconian plan what they've done with going from zero to non-zero covid, if you want to call it that, it is ahead of the plan. they just keep announcing new provisions every few days. and you know, they've taken down

a testing stations they're going to reopen the -- just unprepared for the chaos that now seems to be unfolding as omicron spreads to a society that is much further away from herd immunity than more advanced nations are. >> steven thank you so much for joining us we do appreciate it as always. steven roach by the way, we've also talked to former fda commissioner scott gottlieb about china and its covid zero scrapping and he raises the -- the possibility that new variants will come to our shores with this lifting of the travel restrictions. that certainly seems to be the case there could be further spread to other countries including the united states. we saw those stocks rally as if this is just like the reopening we saw here, just like the reopening we saw in europe, steve. what do you think? >> so, steven said that just because they lift the covid restrictions doesn't mean that

growth comes back. but to your point, that could mean that the stocks will, the reason that we haven't seen -- every time they say they're lifting the covid restrictions, they bounce but they bounce less because people and investors are starting to come numb every time they say it again and don't meet it i will tell you, the conspiracy theory of the night for me and probably of 2023, you can't invade taiwan if you have covid restrictions on. so, for me, i think that they're starting to gear up maybe -- maybe not a full invasion, but i think they're dabbling around it so that is my conspiracy theory for 2023 but i think the stocks are investable and that bounce will be longer lasting as long as they don't reverse yet again in the next week >> do you think that the chinese army is worried about a travel ban restricting its return to

china once it invades taiwan i don't get that the conspiracy theory and how that works here with this. >> because it looks like you're talking out of both sides of your mouth if you're keeping people indoors and no one else could go out but yet the army is allowed to go out, which i get that it is to your point, that you're sort of in that situation now, but you look inferior to the rest of the world if you're worried about a virus yet you're going to invade another -- another country so, i think they want to appear strong they want to get past covid. before they invade anything. they want to appear very strong. >> all right we highlight that that is a conspiracy theory. >> it is my theory and my theory alone. >> all right good you're claiming ownership. up next, apple dropping to a 52-week low, the shares at lowest level since june of last year one trader said the stock is

closing in on make it or break it levels. and then to trade it or fade it. which ones will you cluz when it comes to this automaker. we'll find out when "fast money" returns.

welcome back to "fast money. let's take a look at the dugs of december ex pedia and ford and goldman dropping double-digits with just days until the new year. so will the december freeze hold let's play a game of -- >> trade it or fade it >> that was a pregnant pause done for dramatic effect trade it or fade it. america's favorite "fast money" game let's kick it off with salesforce trade it or fade it. >> i will trade this one this is more with technicals than fundamentals. this is been piled out of as far as the stock i think it is -- this is -- you mentioned on tesla, it is so bad it is good i think that is what i'm getting on crm so, when you run outof sellers of the buyers, i think buyers should be coming into the name. >> mike, what do you say

>> i would fade this one you take a look at employee stock based compensation, this doesn't look attractive. shareholders are not the winners when it comes to salesforce and i think people might be finally digesting that fact and that is the reason you see this weakness. >> next up, expedia has lost more than 9% this month. trade it or fade it. >> would you trade this here i any the demand for travel will continue into 2023 and it is very mult yes faceted and getting the hotels and airlines and vrbo trades at earnings. >> victoria, trade it or fade it. >> i will fade it. the margins are more than what we expected last time. they didn't reinstate their dividend so i think you fade this >> ford, meantime, ending the day near the 52-week low the carmaker continuing the downward slide so make, trade it or fade it >> i'm going to trade this one simply based on valuation a little over five times earnings.

i think we're probably getting into a very weak time for the automatics but i think that is already priced in and you have a nice dividend and that probably is going to lend sysome people the support you might get in the new year. >> courtney? >> i didn't think that mike has a lot of great points but i'm going to fade it i think it is short-term i think the auto sector will still face issues and interest rates are not coming down and the affordability of cars is hurt on people it is very cheap and short-term i would fade it. >> goldman sachs sacks dropping 11% this more. trade it or fade it. >> we like financials but we're warming up to them again their global did well and you have a 3% dividend so i think goldman is a name you could adhere. >> you have been so well behaved in playing this game and abiding by the rules steve, what do you say

trade it or fade it. >> this is a fade more me. and i think you sense that i might not be playing by the rules on this one. it is a fade but a trade deep near next year and mike mayo from wells brought me around to listening to him and his analysis, brought me around to the financials i think he coined the phrase recession ready. so, in the space, i'll do a would you rather jp morgan is the best financial. goldman sachs, would you be a trader next year i'm a fader now and i broke every rule in this game. i apologize. >> my head is spinning one for the "fast money" history books. that is for sure up next, it is been a long december for apple the stock hitting a new low for the year today will 2023 bring joy or another year of pain stick around more "fast money" in two

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welcome back to "fast money. apple falling more than 1% today and hitting a new low for the year the stock is down almost 27% for the year that is roughly 7% worse than

the s&p 500 for 2022 and the tech giant is approaching a couple of key levels that steve has been pounding the table on steve, what are you watching >> i don't know if i've been pounding table but i'm pointing them out when we dip here, it becomes every nickel, every nickel is $5 basically. right. so it becomes 125, 120 in the stock price, melissa but after 120, it gets really, really messy in the name and what i keep coming back to is you don't call the bottom when they sell all of the frothy stuff. you call the bottom when you sell the core of your holdings and no one is selling apple yet. you talk to anyone who is holding it, i'm one of them, and they say, well, i know that it is going to be a little bit of headwinds going forward, it could go lower i'm holding out. and as gene said, three years out, two years out, one year out, people are more optimistic and if they start building a car

people will pile into this one >> you want apple to build a car. i don't know victoria, do you want apple to build a car. if you're an airplane share -- an apple holder, do you want a -- >> don't want to see them put too much into that they have all of the proj eblg going on in the background but i want to see them focus on the subscribers to the services right now. they have a great product base both geographically and for the number of products and their earnings last quarter that base has grown tremendous i would rather see them focus on innovative devices versus a car. >> up next final trades.

time for the final trade a around the horn. >> why don't you add health care with cigna they have double-digit growth and trading at 14 times which a reasonable valuation and they're increasing market share. so cigna. >> courtney? >> delta i know we talked about the airlines earlier but i do think that travel will continue i'm not picking them over

southwest because of what happened but i do like delta here >> mike khouw. >> it is okay, but walgreens are announcing earnings next week. mid single-digit multiple. they have some liability with the opioids you tonight on this cnbc special hour a deep dive into all energy looking ahead to oil, gas, renewable's and nuclear. what is in store for the new year with your money markets were mixed. the dow up a bit, tech stocks fell again oil uprising to a three-week high, energy the top sector for your money this year as the s&p on pace for the worst year 2008. stocks overall fell, your energy costs are likely