ma manifest space. tomorrow, the intel ceo. hear from him about the path forward, this uncertainty about what to do with this stock do you believe he can turn it around or not? what does the rest of the year hold we're going to talk about all of that, morgan >> and key conference call kicking off there. that's going to do it for overover >> "fast money" starts now right now on "fast," am amazon's big beat. popping after hours, beating on cloud and advertising estimates. we'll go inside the numbers coming up. plus, rally on the street. the major averages with meta leading the nasdaq to a 2.5% gain. plus, a waiting move shares of eli lilly popping on new data about their weight loss drug the ceo says this will be a blockbuster drug will the stock be one, too and later, intel posts its largest quarterly loss snap lungs on a q-1 revenue miss

and pinterest drops, as well i'm melissa lee, we're live in new york and we start off with an earnings momentum. online store sales were flat year over year, but it did beat expect taugss for the first time in eight quarters, perhaps signaling all that extra capacity that was build up during the pandemic is finally starting to get more efficient a process that andy jasse called

regionalization. amazon's true growth engine, aws, it desill rates, but better than poored. i ask the ceo about it, he said he's not sure how the next few months will play out, but new business is coming in, and the macro, not the competition that is weighing and leading to that deceleration andy jassy calling the economy uncertain in the earnings release, and that wide operating income guide range reflecting that, it's between $2 billion and $5.5 billion investors will take uncertain, especially if it is at least

regular session today. >> absolutely. if you look at the year to date move, up 30% and i think of the megacap names, this was likely the one that we were all pointing to and saying, if there's probably cracks in the armor, it's probably going to play its out with this one, given their exposure to the consumer here.

but 15%, 16% in terms of aws growth is still, you know, nothing to kind of shake your head at. we were really concerned this was going to be an apocalyptic falloff, particularly within the nasdaq, and for them to be able to deliver alongside their other counterparts just kind of reinforces the margin of safety these names do offer, particularly within an uncertain outlook. >> north american customers looking for value, putting off some discretionary purposes, as we get some more commentary here from the economy >> i thought the retail part of the business wasn't bad. we're not even thinking about it or talking about it, but it is a guy gigantic business. and it really has been weighing on the company a lot they don't seem to care what margins they put up in the short-term, everything seems to be in the short-term for them, but that's a lot of operating leverage they have the potential -- they have a pbunch

of levers there. they built up way too big, they were selling space for warehouses they bought during the pandemic you have now not just the cloud engine, which was, at some points in time, more than 100% seeming of the value of the whole thing, but now you have old amazon, which also is potentially a lot of value, and very impressive performance. it was up on this potential news today already -- >> right >> the bar was higher in the last 24 hours, and yet, they stepped over it by a margin. >> jeff mills, you are killing it you are killing it, because you got amazon in your acronym, it's the a in f.a.m.e you have meta. did you think you'd see these moves? the expectations were so lowered, yes, but we're still sort of expecting that sort of cautious commentary from enterprise, we haven't gotten that, cautious commentary about advertising, amazon is saying for its part tonight that advertising is growing here. we just haven't gotten sort of these worst-case scenarios >> no, listen, hey, i'm not complaining, but we talked about

this last week, and i was a little bit concerned that maybe the stocks had run too much into herbings and we might see a little bit of a give-back, but in terms of why i have a name like amazon, why i have a name like meta, you know, in my f.a.m.e. trade, i talked about this a number of times, but for amazon, it was all about this profitability disappointment last year. karen said it, you know, huge spending in cap-x in reaction to the demand during covid. that was sort of difficult to manage around, but my view coming into the year was that this focus was going to have to shift, and it has. you need to see gross margin expansion. i thought you probably would and now you have aws, prime, advertising, that representing 55% of revenues, it was 52% last quarter, so -- top line up 9%, cost of sales up 2%, that's exactly what we wanted to see here dan said it, sort of beat across the board, so -- there's a lot to like. i think maybe the only thing you have to think about at this point is the valuation i think it's trading at over 40 times, you know, a lot of the

peers that it gets lull ped in with, trading quite a bit lower, so, the question is, what happens on the cost front and what can they do on the growth side to justify that valuation but certainly, showing me everything that i wanted to see, as we were heading into this year >> valuation, it's such an interesting one, especially when we saw the moves out of google and meta, and karen, these are one of the reasons why you kind of felt okay with these names, because there was some downside protection, relative to some of the other. microsoft is getting expensive, amazon has always traded a bit as an outlier. one of the things that is really interesting, we turn the page on this week, into next week, we have this fed meeting. 80% chance they're going to get to 5% on the fed fund. it's starting to creep up for june here a little bit think back to late 2021, right, when the fed -- >> in terms of the chances for another rate hike? these results seem to seal that deal, in a way >> and look at the jobless claims so, there's kind of -- there's this situation here where valuation may come back into focus for one main reason,

because of interest rates. if you

how -- obviously was a good quarter, pretty much across the board. a lot of beats, including operating margin, how do you think about this in terms of the valuation, which is the question that was brought up here on the desk >> i'm struggling with it. and ultimately, deepwater -- getting a little bit of f feedback, do you have me >> we have you >> amazon dis trading at 45 times, that's more or less in line with nvidia, and then you have kind of a step down to apple and google at 18 times, and so, i think dan's comments kind of sum up where i'm at, is that this was a good quarter, it was not a great quarter. for it to continue to have a premium multiple, historically it has had that but for that to continue, i think these numbers need to show more upside relative to what they guided to for the june quarter

>> how much we think about deplg

we're thinking more, this is an indication, probably to start to do more work on some of the mid and small cap, because i think eventually, we're going to see, by the back half of this year, some of that momentum swing back it's just kind of how it goes. >> what do you want to hear on this conference call >> well, the ai toy department, they send a couple pieces in their earnings release about how a.i. is impacting their advertising business i would like to hear about that, how they're implementing it with aws, and the cost side, how much more is that to go would love to hear some high level commentary on cost, but just want to see where margins potential ly could go. >> all right, gene, we'll check in with you later on in the show gene munster of deepwater. >> thank you >> karen, what are some of the outstanding questions you have about the quarter? >> well, i wonder about -- i

really, i guess on the call, i wonder what they're going to say aberrationalizes the business at all. obviously more pixie dust for big tech when they announce layoffs, it's a tangible thing that you have put into the model so, i'd like to hear that. amazon, i think, is -- more than any other company, really, they don't care what happens this quarter, and i don't think they care what happens to the stock and i wouldn't say the same of micro. so, let's say. >> yeah, i hear the concerns about growth and call just now

still have more work to do words we've heard before in the past but the company posted net loss of $2.8 billion, which was the biggest quarterly loss in its history. the ceo adding to the pc bottom narrative, by saying, quote, just moments ago, we are seeing increasing stability in the pc market with inventory corrections largely proceeding, as we have expected. however, server and networking markets have yet to reach their bottoms. so, that's why intel has a pretty bleak outlook for q-2 margins, as well as earnings per share. both

but manufacturing was their

edge, and that has completely disappeared. so, now you have a stock that's down, what, 60% from its high and the p.e. is much higher, i think it's at a 20-year high it's back below the 200-day, so, after this earnings report, looking at the chart, all of these things sort of wrapped into one, it's just a stock that's still not interesting to me >> if you think i'm a value girl, but would i rather own intel at a lower valuation or amd at a higher one? amd at a higher one. we'll see on tuesday they're going to report, but -- i don't know, i just feel like this is just -- i don't know, pushing a giant ball uphill and who knows what's going to happen when it gets to the top. >> yeah, it's not an easy job. >> no. >> i'm sort of poking at pat in terms of him having said that, you know this is the bottom for the business, we're going to rebuild, et cetera this is a tough slog investors want to hear something they can believe >> right and i think what you just said is what a lot of portfolio

managers all over the world are making that same assessment right here amd overtook intel in market cap terms -- >> which was amazing >> just a really interesting sea change to your point, if you are looking at 2024, 20% expected e.p.s. and sales growth and the stock is trade 20g times that, or so, you probably would rath gore with amd, where at least it's been an amazing steward of this business. on the smh, it's doubled off of the lows it just broke that offtrend off the october lows here, so, i think a lot of it is kind of on the weight of nvidia and taiwan semi and i'm not sure if you have to be in semis right now or adding to these positions >> quickly, just offering a counterpoint jeff mentioned the company isn't really interested -- who is interested in selling at this point given all the news that we already know >> so, does that mean that you would take a flyer on this >> ah -- if i right-sized the flyer, sure. i would rather spin a little money buying it than i would

short it at this point. coming up, even more earnings action after the break. shares of snap and pinterest, they're dropping snap's down 20%. the latest out of the quarter is next. plus, ellii lly getting love the company yeyes fast-track approval of its weigh loss drug. we're leaning into that coming up next.trol of l... and stone. it's awe. beauty. the measure of progress. it's where people meet people. where cultures and bonds are made between us. where we create things together. open each other's minds. raise each other's ambitions. and do together, what we can't do apart. this is space for dreams. loopnet. the most popular place to find a space. asking the right question can greatly impact your future.

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welcome back to "fast money. earnings on two social media movers dropping in the afterhours snap revenues missing and declining year on year the stock erasing all of itsther it is now down 20% an pinterest shares are dropping on weaker than expected revenue guidance and growing operating expenses julia boorstin has more on the reports. julia? >> well, melissa, both pinterest and snap are suffering because of concerns about their future for snap, its revenue declined by 7%, its first year over year decline ever, but its internal forecast for second quarter revenue declined 6% fell short of the analyst consensus the company warning that it expects a negative $75 million in ebita in the second quarter snap ceo's noting that the,

quote, macro environment continues to be a headwind he goes on to say they are using this opportunity to make significant improvements to their advertising platform, including transitioning to a new ad format. now, snap, the earnings call is set to start shortly, at 5:30 p.m. eastern meanwhile, pinterest call is under way. those shares fell on concerns about second quarter revenue guidance missing estimates, while the company also warned that its operating expenses will grow in the mid teens percentages. you see shares down 14%. now, the company also announcing that it is opening up to third party ad demand and their first partner is amazon, partnering with amazon to bring those ads onto the pinterest platform, so when users click on an ad, it can bring them back to amazon to make a purchase. now, we're going to be talking about all this and more with pinterest's ceo, he's coming up later in this hour

melissa? >> julia, thank you. we'll see you soon with bill julia boorstin we were just talking about that during the break, how does pinterest monetize seems like this benefits amazon a lot. >> right and when you look at the growth that they're having and you look at the scale and the takeaway here is really scale. so, look at what we just saw this week from google, from meta, and from amazon. like, literally, it sounds like, digital advertising is back -- no, because they have the scale, the eyeballs, that sort of thing. when you see a platform like snap, for instance, that has 4.7 million in revenue expected annual this year, they just don't have the, you know, again, the scale. i'm going to say this about snap -- sorry, about pinterest i don't know anything about pinterest, i don't know how they monetize and didn't use it -- >> you don't have a page >> i know snap and i know all the kids today, i have two of them, i see them all around. they are still addicted to this app. evan toiling away, getting this team done, getting rid of some of the other things, really -- i think if you buy snap at $8

tomorrow, i think you're going to have a really good shot if you wanted for a trade to sell it at $10 in the next month or two. and that has actually worked over the last two quarters or so i feel like for whatever reason, people get geeked up about it, they want to buy it in the print, it goes down 20%, you buy it on that and a month or so later you are selling it up 20%. >> dan's been range trading this thing beautifully, that $8 to $12 range, it's really been in since november of last year, i will say on the other side, looking at the arpu, i think snap has it between meta, pinterest. i think that pinterest has a lot of upside if they are able to drive up that arpu dollar figure, domestically versus internationally. i see a lot of upside. we mentioned the amazon partnership, but also this ramp partnership. if we are expecting ad spin to start to shrink, i think that, you know, corporates are going to be focused on the ad spin they undertake and that might be an interesting lever for them >> and as a pinterest user, karen, can you see that

happening? >> i just -- for both pinterest and snap, i just think, why wouldn't you be in meta? right? at a much better valuation and scale. i would almost say meta should buy one of them. meta can't buy anything. i think no one is allowed to buy anything anymore i would rather be in meta. all right, a lot more "fast money" to come here is what's coming up next. eli lilly stock doing anything but slimming down shares jumping as it eyes fast track approval for its weight loss drug. a focus on the pharma trade, next plus, meta doing better. the social stock climbing to a 15-month high, as investors reel over earnings. so, is it time to rethink this name the traders are ggdiing into the multiple ahead >> "fast money" will be right back i watched my mother go through being a single mom. at the end of the day, my mom raised three children, including myself.

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welcome back to "fast money. eli lilly sizing up to an all-time high today despite an earnings miss. the stock surging 3.7% after the company raised its full-year guidance lilly reporting positive data on mounjaro, saying trial patients lost up to 34 pounds on average. that's 15.7% of their body weight they've got some, you know, potentially positive knewnews cn out of their alzheimer's drug later on this year, karen, so, where do you stand on this >> don't own it. i sold it. had a huge runup on -- on mounjaro, as did novo nordisk. so, i'm out. out of that one. >> jeff? are you in lilly

>> yeah, i think there's big potential here, too, and we talked about this last week, as well they're talking about $25 billion in potential sales for mounjaro i think in order for them to get there, and this is really important, they're going to need to see expanded insurance coverage to increase access and to actually get demand up to that level if you look at employers who have opted to cover obesity medications, it's only at about 22% right now. so, you need to see all of that right-size but assuming that happens, there is a really big opportunity here, and all of these drugs appear to work, whether you're talking about ozempic or wegovy. but it's my understanding that the results for mounjaro are a little better. so, maybe that gives them a marginal eadvantage. and we talked about lilly relative to an nvo lilly's chart looks better, kind of just breaking out to those new highs versus nvo that's run a little bit already so, there's room to go here. >> the all-time high bother you -- >> yeah. i -- listen, i don't love buying

a breakout like this, okay because it's gone from, what, $315 just about a month and a half ago, to where it is right now at 390, and if you just look at that chart that jeff is talking about from late 2020, it has held that uptrend like a boss but it's giving you lots of opportunities to buy it back at that uptrend and this drug really is going to have all of those characte characteristics, higher than 22% of employees, that's going to be a theme that you're going to play for years so, buying it here up 22% in six weeks is probably not the best way to enter a position in this. >> at the same time, some of the other drug makers that are not doing very well, merck came out with results they're okay pfizer is not doing well stock-wise and so, is there sort of, like, a trade where you think, oh, i don't want to be in these drug makers, they've got major drugs coming off patent protection in a couple years or so why not go to these other drug companies that have these blockbusters with huge potential that we're just scratching the surface of >> i mean, you can make the

argument for merck i think jeff mentioned that last week based on valuation. you compare this to some of the others that are trading in high 30s or low 40s versus a merck that's trading at a 17 or 18, particularly if you have a bit more longer timeline i do think that you're likely going to have to ride the momentum if you kind of want to play for an incredital 5% or 6%, you can probably buy these here, but with that said, i think that's more of a trading position, as you're trying to right size your portfolio. coming up, we're diving into today's market rally in a couple of stocks that sat on the sidelines. what their moves say about the real strength of the market. and has wall street warmed up on meta earnings crushing estimates, so, is it time to rethink the valuation of the social stock? we'll explain when "fast money" returns. get your trades to go with the "fast money" podcast catch us any time, anywhere. follow today on your favorite podcasting app we're back, right after this you need cdw who can help transform your organization

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benefits. payroll. compliance. trinet. people matter. welcome back to "fast money. major averages all posted strong rallies today. the nasdaq serising 2.7%.

buoyed by meta, which rose 14% today. we'll dive into that in a moment first, it wasn't good news across the board united rental dropping 4.6% after the building equipment maker fell short of profit estimates. it was the company's second earnings miss in a row karen, you poured through the earnings call, so, what did you make of this whole thing >> yeah, so, this is normally a team that likes to underpromise, overdeliver. and they didn't really miss, they were off a few cents, and some of the other metrics were actually fine, but it was the call that was really disappointing. they had done an acquisition, they've been serial acquirers, they are the largest in the space, though, but it's still very fragmented space, and they talked about integrating this acquisition, and shareholders, like me, and friends who i cried with later after the call, were saying -- we thought that they would move the margins of ahern, the acquisition, much closer, not all the way, but much closer to where uri's margins are

they didn't -- they did not send that message on the call they acted like that also wasn't a surprise i think shareholders were somewhat surprised by that so, they do have an analyst day coming up, i don't know, four, six weeks, i forgot. they have another chance to -- to -- i don't want to say spin it a different way, because these guys really don't spin they really try to tell you like it is, but i cstill think the fundamentals of the business are great. they have fantastic cash flow. the balance sheet has never been better there's a lot to like here, people are concerned about commercial real estate and that's not really -- that's not really a big part of their business, so -- i like it. >> all right, let's dig into meta more, i mean, mega-day for meta today shares popping 14% after the company posted a surprise rise in revenue the stock now has nearly doubled since the start of the year, posted its highest close since february of 2022 is the market re-rating this company? does it reserve it

jeff, how do you think about this they talked yesterday about how a.i. is increasing engagement. they had numbers, increasing engagement onge inon instagram 20%. they are monetizing the latest toy on wall street >> well, exactly they are doing what investors want to see. they are cost cutting with monetization i'll be paying attention to reels here, as we go forward, just to make sure that the monetization is flowing through there, as they're trying to pull some hair away from the likes of tiktok, but it's sort of interest, we were talking about a re-rating of the stock earlier what's old is new again. i went back and looked over the last five years, the stock traded around 21 times, trading 19 times now so, though the multiple has moved quite a bit, i don't necessarily want to rely on additional multiple expansion from here. but i don't know that the valuation's ridiculous, given some of the things you said. they are doing the right things. i think the growth is there. so, in asking the question, can they hold this current multiple

and ride the growth here going forward? i think the answer probably is yes. >> you have further data points coming from amazon tonight about advertising still being there, advertising growth still being there, so, do you feel better about this move in meta? >> i do. i remember a conversation i had with karen -- i don't know, maybe six months ago, and she's been right with this meta trade. i think, as jeff said, monetization is really what you want to see. and the whole real situation or concern that i had around the stock was that they were investing to much into this metaverse, which, to me, was an implicit admission that they were chasing growth, or running out of growth engines. reels has proven to be just that 30% and 40% respective monetization over instagram and facebook, so -- a lot of those costs have been kind of pulled back my concerns have much -- have calmed down quite a bit since that point >> i don't really think of it so much as a re-rating. i think of it as getting back to

a realistic rating after they were at a 30% discount to the market multiple, despite being extraordinary business, so -- to me, to be a slightly over the market multiple when they're this business and so many things that were negatives are no longer there, they were the poster child for bad behavior, the spend on the metaverse, advertising was slowing down, all of those things. >> can i ask you, you know, you've been the bear on the desk >> it's your show. >> i can ask whatever i want >> why i don't get asked back. i don't answer >> cut his mike. we don't do that you've been bearish on the nasdaq, we've gotten a lot of data points from big cap technology that are good >> yeah. >> you say, you know what, maybe things are all right >> well, first things first, this week, if you were bearish, as i have been here on stocks, this week and this set of results and the reaction to the results, more importantly, should cause you to rethink, let's say, some of your thought process a little bit but what changes my mind about that is, i think it's about as good as it gets.

if you think about where the nasdaq is, we are barely above the february 2nd high here so, with all of this heavy l lifting being down by a small group of stocks, i'm just not certain if that recession does materialize that once again, we see a deceleration in some of these really important metrics, we spent a lot of time talking about them, and stocks need to be the term that we just used, rerated lower in a higher interest rate environment. so, i think it's easy to feel good about the market, about your holdings when you have a bunch of results like this, and it seems to be that investors were offside in many of these names coming into it i'll take you back to a few other names. you mentioned uri. what u.p.s. said this week cleveland cliffs, whirlpool, tomorrow, we're going to have exxon and chevron. they have been huge contributors to s&p earnings. they were doing a lot of the heavy lifting -- >> big cap tech is where you go to safety. >> i don't think you want to buy them here. >> this is relative safety >> it's fine

i mean, listen, have at it, people have a ball. but if we just want to look at the course of what the market has given us over the last, call it 24 months or so, there are clear signs here and very soon, especially if we start to see unemployment tick up and some of the consumer spending come down, continue to come down, with rates like this, and the fed, if they just say, higher for longer, i think stocks are trading too expensively right here, but you know, meta, it's a specific story. netflix was a specific story amazon has much more macro exposure so, those stories can change on the dime, and that was the story of 2022. coming up, it's been a very busy week of earnings. lots of big names saw big moves higher the options pits coming up. first, pinterest earnings are out, the sckto is down 12% we'll be joined next by their ceo about what's next for the company. stick around more "fast money" in two

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welcome back to "fast money. want to check on shares of amazon, they're pulled back from their aftermarket session highs. the stock is now up by about 1%. let's check in with gene

munster. he's been listening into the conference call what's the latest here? >> hi, melissa the latest is that they are seening a deceleration in aws growth in the month of april this, of course, is one of the key metrics, if you kind of back into the numbers, that suggests that the quarter's tracking aws up 11% year over year. the street was plus 13% for june, and last quarter, the just reported march quarter, they did 16%, so, that was a little bit of a surprise, to continue to hear about that deceleration in aws. it was 40% six quarters ago. and separately, in prepared remarks, they talked about a shift down for consumers into lower priced itemitems, so, ther feeling that they are optimistic about the big picture, but the amazon data point really jumped out at me. >> they made a comment that there was no sort of clhange in

ball balance in cloud >> well, we are splitting hairs in terms of some of these numbers, and that's what investor boss to try to get a sense of the trajectory, and i suspect that aws is probably losing fractional share here and i think there will probably be a deceleration from some of the other cloud companies, too, but again, the growth of aws was 16%, it was well below what some of the other cloud players were in the march quarter, and so, i think that there is some share shift that's going on. aws is so big, though, that, you know, those numbers can come down and their business, they can kind of still hold to a believe that generally nothing has changed, but i think something has changed. >> all right, gene, thank you for the update gene munster >> thank you >> amazon shares up by just a percent in the afterhours session. let's move to pinterest here shares sinking despite a top and a bottom line beat

they see growing operating expenses in the second quarter julia boorstin is joined now by bill ready, fresh off the earnings call. julia, take it away. >> thank you so much, melissa. and bill, thank you for joining us on the heels of reporting these first-quarter earnings >> yeah, thanks for having me. >> so, bill, let's talk about what's going on that's really weighing on the stock right now. first quarter results beat expectations across the board, but revenue guidance, disappointing in the second quarter. there is also concern about growing operating expenses why are the numbers disappointing in q-2 >> well, first of all, you know, i'm really proud of our team and the way they've continued to execute. we delivered a really strong quarter, coming in ahead of our guide on top line, bottom line, and user growth. we've clearly returned to user growth increasing shopability on the platform so, each of our comparatives, we're delivering beyond our expectations and making really

great progress and revenue growth continues to grow faster than the ad industry overall. we feel really good about that at the same time, it, as you see from others, as well, you're still seeing some other large platforms having year on year declines, and you're also seeing that there's, you know, wide varment in what others are protects, so, as we look forward, we're calling that we think we can continue to grow, continue to do well, and we think about the medium and long-term, the fact that we're delivering great value for advertisers, oured a impressions are up 30%, while engagement is still growing north of double digits, and advertising immrechlting new measures, they are finding that pinterest performs better than what they expected these are all things that bode really well for our medium to long-term. >> bill, in terms of those growing expenses, so many of the tech and social platforms have been cutting costs what's behind this mid-teens

growth in operating expenses in q-2? >> well, we are very much on track to the margin expansion for the year that we've talked about before, so, for my first quarter, when i joined q-3 of last year, we talked about having meaningful margin expansion on the platform for this year and we feel like we're on track with that we had significant progress in controlling expenses, starting q-3 and q-4 of last year we feel good about the progress on that. we announced a restructuring this quarter, so, our progress on returning to meaningful margin expansion in line with what we stated previously, we reaffirmed that on the call and i feel like we have great progress on that return to meaningful margin expansion, while also growing the business, again, on revenue, users, e enga engagement, and the overall shopability of our platform, and that bolstered by our own efforts, where we're siege 35%-plus growth in engagement on shopable pins, as we bring that into the core of our experience,

and great new partnership with amazon, where we're going to be partnering with them on amazon ads, to bring more brands, more products onto our platform and we know more than half the users on pinterest are here to shop we see it resonating already and we think there's a lot more of that to come >> yeah, i want to hear a little bit about this partnership with amazon how much of this is an exclusive partnership versus opening up the platform in general? and how do you think this could impact your revenue down the line >> yeah, so, i commented on this in prior quarters, that we think there's a significant opportunity to bring more third party demand onto the platform pinterest overall is a -- a young ad stack, and it's quite undermonetized relative to the very high amount of commercial intent that users have on the platform so, we see the ability to bring on third party demand, as one that can really drive more comprehensiveness for users, more shopable products for users. they can make it so we not only grow revenue and ad impressions,

but do that in a way that is enhancing to engage and we've already been proving that out. given amazon ads has a great amount of brands and products, and a really great consumer buying experience, we think that will only firster bolster the shopability of our platform, which is a huge opportunity for us it's a multiquarter implementation, so, we expect that to really start to show as we go into next year, but we think that is a broad opportunity for us amazon, we think, will be a great first partner, but we know we can work with multiple others, as well, and so, that broader partnership opportunity with the industry, we're excited about, because we have a lot more commercial intent on our platform than what the revenue would indicate and that's especially true when you look at how fast we're growing internationally, that is significantly undermonetized so, these are all places that we could not feel better about the medium to long-term of the business, and even in the short-term, we grew faster than the ad industry overalland we see we continue to win with

advertisers as they implement better measurement solutions all that, we feel great about our progress >> well, bill, we're going to have to leave it there, but we look forward to hearing more about this transition to making pinterest fully shopable thank you for joining us on the heels of that earnings report. >> thank you very much >> melissa? julia? thank you. the stock was up 9% on the earnings release while julia was talking to bill ready, the stock was down a percent, it's leving off here. we were talking to gene munster, he was talking about how on the conference call, he heard that the company was saying, talking about a slowdown in aws in the month of april, which is not good news, too there are some thoughts that maybe they're talking about cap-x, as well we've heard that from amazon before the stock is up, conference call comes, they talk about cap-x,

investors are spooked. what do you make here? it's just -- to think about the market share, i mean, the market cap that's moving around here in the afterhours session is -- >> good. >> remarkable. go ahead >> it's more important than just amazon and that's what we're saying amazon's happening on a thursday after we've had $5 trillion of megacap tech stocks have really big results and outside returns. and investors want to buy this, people want to be positive they were sick of the bear market that we had all oflast year when you get this sort of result, relative to expectations with really poor sentiment, but what are they telling us right now? they are seeing a deceleration in some of the really important trends in the current period that's why i want to extrapolate this out we just mentioned u.p.s. how can you look at what they did and the investor reaction to that report and not extrapolate it to a company like amazon? okay and then there's got to be a lot of other companies, too. and so, we were just talking about this, they're going to cut

27,000 workers, but they're going to increase spending on other things, on servers, advanced chips and that sort of stuff. so me, i think this is really important. i think we might have seen as good as it gets for megacap tech here and i'll go back to the point, you asked me if i was worried, because i have a short in the qqq, i'm not worried. we haven't broken out yet. if this is as good as it gets, if we get into fed week and interest rates, that's what's going to be next week, that's the thing that makes me worry. >> can i ask, small question, dan, so apple, which doesn't have a lot of overlap in many of these, except for its big cap techness of it, does this read negatively for apple, as well? >> china worries, for me, for apple. and we haven't talked about china all week. coming up, opgs traders are betting this name has more room to run we'll reveal the trade and how to play it next. we'll be right back.

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welcome back to "fast money. lots of stocks had big reactions to earnings this week, but there's one name that options traders think still has more room to run. mike khouw's got that. mike >> yeah, we saw bullish flows going into meta's earnings and seeing bullish flows coming out. the third-busiest single stock today, traded more than three

times its average daily options volume in calls. the busiest contract that aren't expiring tomorrow were the 250 calls expire, at the end of next week 24,000 of those trading for $1.82. 'vyers are betting that the pop wee seen could continue through next week. >> thank you, mike up next, final trades. good luck. td ameritrade, this is anna. hi anna, this position is all over the place, help! hey professor, subscriptions are down but that's only an estimated 15% of their valuation. do you think the market is overreacting? how'd you know that? the company profile tool, in thinkorswim®. yes, i love you!! please ignore that. td ameritrade. award-winning customer service that has your back.

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got to be with dan buy some s&p puts. >> yeah, looking at pins, i expect them to converge between the the domestic and international arpu >> dan >> yeah, a week from now, apple reports. i think it's as good as it gets for this period. qqq, selling a rht, t >>lliggoit thank you for watching got it thanks for watching fast see you tomorrow at 5:00 for more "fast." meantime, "mad money" with jim cramer starts 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 other people want to make friends, i'm just trying to make you a little money my job is not just to teach but to entertain a bit and educate so call me at 1-800-743-cnbc or tweet me @jimcramer most of the time all we ever