located and maybe they are in geographical areas when it comes to legality, and i am not endorsing the bots but -- >> you are totally using bots! >> i should have, now that i realize all right. guys, thanks so much. well had come to "closing bell" from post 9 at the new york stock exchange. this hour begins with surging tech which is once again leading this market higher, alphabet, amazon, apple all hitting new guys once again, so is tesla. star analyst stan ives is here raising his price targets even more and he'll join us to explain. the scorecard with 60 minutes to go looks like this. the nasdaq, as you might guess is outperforming. it has been all month long. dow's flat. s&p is getting a lift and the biggest names of this market are

the ones leading the day. broadcom's rising another 12% today as goldman raises its price target to $240. it's a new record high for bitcoin, the cryptocurrency continuing. it's amazing post-election elevation. we do have a special report there coming up, as well. it take us to our "talk of the tape" whether another tech run is just getting started and let's ask dan ives and global analyst at post 9. welcome. should we be surprised at all that they're surging in many cases new highs once again every day. look, let's get the popcorn out in what will be the ai revolution and me and you have talked about it. trump administration in, and that's a goldilocks scenario for tech. deregulation from ftc to nhtsa and others and tesla and other, the street now is just starting to realize i think how this

plays out and that's why i think over the 12, 18 months, nasdaq 25,000. >> okay. so that's what this is primarily about, the trump administration being more friendly for tech no surprise you have a parade of ceo in palm beach to talk to the president-elect. >> i think there are two reasons. one, it's the multiplier. for every dollar spent on nvidia chip there's across the rest of tech. when you get software, you get cybersecurity and other parts of infrastructure, i think now you're starting to see the trade spread out and it's 10:00 p.m. in the ai party and now behind the velvet ropes and they're getting led into the party. when you have a deregulatory perspective in the beltway, that's why this is setting up for what's to be a golden era for ai and now from a deregulation perspective, ftc whether it's deal making, and nhtsa, now it's just getting

started to what we view as it was going to be just a unique, special moment. >> you think the cases that were either talked about or brought in the current regime of washington to the white house. are they going to disappear? are they not going to be as ones as it once thought. friday the 13th and whatever the worst harm, nightmare on elm street for toks ech stocks has lean. 80% to 90% of the overhang starts to get removed and doj and others, clearly that will continue to play out when it comes to alphabet, apple and others and the antitrust and the concern, a lot of that starts to abate, but the biggest thing is this is the beginning. get the engines sort of roaring. >> who wins the most? who wins the most? >> i think microsoft is going to win the most from an m and a perspective, and i think you'll

see alphabet and amazon also continue to expand not just from a cloud perspective when it comes to chips, and the biggest wehner in all of winner at the top of the mountain is musk and tesla. it was a bet for the ages in terms of musk betting on trump. >> let me break that down. there's a lot there that i want to get to first. microsoft as to who will benefit the most. what's going on with that stock? why has it so dramatically underperformed all of the others? it hasn't hit a high since last summer. a little has happened with nvidia, as well. i think they're underestimating just what the demand will look like when it comes to more and more, only 45% workload in the clouds as more and more of these ai use cases get launched, i believe we're sitting in a year from now, a $4 trillion mark cap and that's microsoft alone continues to be table pounders when it comes to large-cap tech. >> next, as it relates, i guess,

in part to microsoft, musk versus altman, musk versus open ai through x ai, follow. musk is an investor in open ai. there's no potential fallout from a winner take maybe less than we originally thought because of musk's big bet on the proximity to power in the white house? >> look, this ufc battle that will play out between altman and musk, i think there could be some fallout, but the fallout would be from an open ai perspective and not microsoft because our view is that microsoft will gain more and more share when it comes to ai, when it comes to these workloads and it's really more about musk when it comes to x ai going up furger further with altman and that's why i continue to view tesla and musk broader is probably the purest way to play ai when you think about that ecosystem, and

i think it's through tesla and autonomous. >> what is apple's incredible more run lately attributable to? >> the bears are all coming out of hibernation mode saying this is iphone 16 and 190, and you look at it today because the street's starting to recognize, even though the bears can't see ai in the spread sheets and it's the consumer ai revolution is coming through cupertino. iphone 16 is just the start of this elongated super cycle that's going to play out, and i think what we're seeing now is more and more developers build out hundreds of apps on the apple ecosystem in terms of apple intelligence. the consumer ai revolution comes through and cupertino just like it comes from the god father of ai and nvidia. >> when you see tim cook's down at mar-a-lago and he's dining with the president, you know, he has had a real deft touch, i

think, is fair to say in the way he's cultivated his relationship with then president trump, now president-election and soon to be again president. do you think that's accounted for as part of this mauve in any way in the state? >> i think maybe small amounts, but not enough because cook, 10% politician, 90% ceo, no one understands beijing and china as well as cook, and see, it's all playing out. you will have carveouts when it comes for apple, and nvidia when it comes to chips and apple is a winner on both sides, they're a winner china and in terms of the ai revolution. you look at musk and the innovation. guess who will benefit from that, u.s. tech companies as more and more of this happens in the u.s. >> let's talk tesla, and we save that for last. your price target is 515, is that right?

>> 515 and again, that's conservative and our bull case, 650. i believe we're sitting here a year from now and it's a $2 trillion market cap and even though we talk about it on the show, since trump that was a lotto ticket for musk, right? in terms of when it came to what that bet would be -- >> like the spend of $275 million or whatever the number ends up being is what musk spent as part of the whole campaign. that's what you're talking about and the unbelievable return on investment. one of the greatest, i don't know, you want to call it trades in the history of the universe. >> a move from the ages is what you saw play out because now the autonomous vision will play out and when you look at nhtsa, and what they'll do is sweep the leg situation relative to the beltways, this all plays out and that's why we think autonomy is

worth a trillion dollars and deliveries and you go through every quarter and that's 10% of the story. you look now at robotics and autoon autonomous, and 650 is the bull case and as this plays out, the biggest winner from all this at the top of the mountain, that mount rushmore is musk. >> do car sales even matter? >> car sales at this point is 10% relevant. the reason i say that it's about 7 million vehicle in the next 18 months and what does that pen traeg look like in and then ultimately, cyber cab autonomous as it all plays out and detroit and the 313 area code they'll be calling musk when it comes to oem and the technology. >> i know, but what was already falling demand for evs everywhere. there's no impact on that. >> look, i think in china, and i think even this quarter we're seeing growth and it's kind of come out from the abyss. we're seeing a stabilization. the price cuts that were onerous

have started to stabilize. >> do you think that's done? >> i think 99% of that is done. gross margins have stabilized and if you're a bull you're sleeping very well at night for tesla because now that's all stabilized and you'll have 15%, 20% delivery growth and now the gold at the end of the rainbow is autonomous. >> let me ask you this, had trump lost and musk made this huge bet, how much different would the story be in your mind -- let's just take tesla? >> it would be dramatically different. i mean, it would be a much different story because a big part of the valuation of this story is autonomous and given the 202 area code and musk were never going to do candlelight dinners, that was a huge overhang on the stock and now the autonomous vision and the optimist vision plays out because the musk-trump alliance will, i think, strengthen over

the coming years which is very bullish for tesla and investors are starting to recognize this. >> and hurt uber, waymo. >> i think they'll have to peel back the ev. >> threats of tariffs have hurt those stocks. >> as well as also the ebitda tax credits in terms of the overall ev strategy because musk and tesla are a winner, ultimately detroit is a loser when it comes to the tax credit getting used and the full autonomous vision playing out and that's why the stock continues to have overhang, even though we like it long term. right now tesla, table pounder tech, table pounder and we sit here and it's still year three of when we see as a five to six-year tech bull market. dan ives, thank you very much. i appreciate you being here. let's bring in cameron dawson and jp margo and investment

instut as well. it's nice. let's start with tech. are you at all surprised by the resurgence of this group the fact that it is up every day and it is pulling the market forward? >> i think we have it appreciate that at then of the year we typically see the winners keep on winning and the losers keep losing and there mostly of the dynamics. we can't ignore growth versus value has been absolutely parabolic in the last couple of weeks and it is a straight line up, and we do know that when you get those kind of performance extremes it sets you up for a potential snapback, so we wouldn't be surprised if things like value, the dogs of the dow do better to start the year. the question is can it be sustained more than just a couple of weeks as it was last year. >> you think that would be the case? >> we don't see the evidence in the earnings yet. that's the critical factor is that value earnings need to do

better, and you need to see an earnings reversion cycle move higher and not lower. so we do, that you have the potential for the snapback just because performance has become so extreme in packers leak beta, momentum, low quality, all areas that have been pulled to the 9%, 92% flat, and don't be reversed even if thaefr at the start of theier. many maybe the story is you're not going to get more multiple expansion. been there, done that. now you will get tremendous earnings growth and that's what will bring the market higher. >> that's exactly what we are calling for 2024 or -- excuse me, 2025. we will see it post growth and we are looking beyond just that growth complex for more

opportunities. we've got our eyes not just on tech with an emphasis on software and sectors like financials, utilities and industrials as a means of playing the next wave of the rally. >> it sounds like you want an everything rally. if you're telling me all sectors are going to have stellar earnings growth then where do i not want to be? well, i'm not saying stellar earnings growth or positive earnings growth for the first time in a long time, and i think we were calling for an everything rally we were pounding the table on the small and midcap complex and for now we are somewhat agnostic between that part of the market and the larger cap part of the market and we still think the magnificent seven cohort can do the heavy lifting and post stronger growth numbers than the remaining 493 and i think a broadening of the rally in some degree of ro taeg should be expected in the year ahead. >> samer, how do you see it? >> i think you have to continue with the hot hands, right? the most reasonably priced of

the three growth areas. we recently upgraded consumer diskregsz discretion and you have to have a full weighting in technology and that's the epicenter where this spending is happening and we ike energy. it will be powered at least in the short term powered by natural gas and energy has a much cleaner story than it has in recent years. we like industrials. we like financials and those have to do with kind of the financing of ai and just more broadly along with just building out those data centers and the electrification, and so again, i think there are a lot of different things that are working and the defensives weth in the u.s. and there's a lot of growth in other places. >> are you -- are you expecting that the run we're seeing late year in mega-cap will have a know. >> jan effect once the calendar turns we start thinking about some tax selling and things of

the like. >> i've definitely heard investors, but i think the way you want to go into the next year is a lot of people are waiting for that type of opportunity, so you go in for the full weighting and honestly if there is a pullback, you lean into that and i think pullbacks are shortened and shallow, specially in the first half of next year when this positive plays out. >> is that what you think, elise, any pullback, will it be bought? there's this optimism of what a new administration will mean, deregulation, tax cuts, higher growth and more investment in the u.s. and all of the things that we hear about every day now. it's certainly seems to be the case on the equity side and we are looking for asset classes and with core fixed income it will be carry-like returns in the year ahead and especially how hard the equity market has rallied this year and last year we want to look at ways to renew portfolio resilience and make sure we're flushing out the full

portfolio. >> would we be foolish to think that we could have another banner year in stocks because we've had two in a row? ? it's happened. the problem is after you've had three years in a row of really strong returns, what has typically happened is very poor returns in the following years. so if we get another year of 20% plus returns and auto mostly driven by multiple expng as it was, and you would think it would drop drop precipitous low and things leak leverage keepinging able pea the dip. you're seeing leff ran etf buying and options buyinging and suggesting that people boom string to get more risk so downgrade, they're not digest. the plan goes it higher and

that's what would accept the goldilocks narrative which the fed will continue to cut and bring the pauses that the fed has to implement forward and we may have to start talking about hikes again. that's not our base case, but if there's a risk. that's it. >> how would you answer that? >> so we do think that the biggest risk would be higher inflation because it's not being priced in, but the question is what about growth, as well? growth forecasts have been raised significantly going into this year. it's been one of the key underpinning drivers of the market for the last two years. if you start to see a little bit of deterioration in growth and equity valuations at this level and credit spreads this type do not contemplate any slowdown in growth whatsoever which would just be a shot to markets that they're simply not priced for. >> when you talk about inflation coming back and do tariffs go into that or are there two separate issues to think about? >> so we've been doing a lot of work on the tariff conversation. we do think that it's going to

add incrementally to u.s. inflation. we are penciling in an additional 40 basis points or so and the question is the timing around this and we've added 20 basis points to 2025 or 2026, core inflation forecast, but whether or not it derails the fed i'm not so sure. we're thinking that they cut on wednesday expecting four more next year. >> ur more? >> yes. the risks are skeweded to fewer cuts and not more. >> samir, this is a perfect segway and we talk about the inflation and tariffs and it all funnels back to the fed. first, do you expect to cut this week. do you expect to cut this week? >> we do. one this week and only over the next. >> why just one? >> our non-consensus call is that it comes faster and higher than many can anticipate and again, we come back to i think the party can last. i think it's probably front loaded into next year.

it doesn't mean that things have to necessarily fall apart in the back half of the year, but i do think that at least right now the disinflationary story is probably one that plays out more near-term than longer term. >> you're telling me we can get to 6600 next year with hot inflation and only one fed cut? >> yeah. because if you think about what's driving that inflation, right? it's going to be a lot of growth and that's economic growth and earnings growth, and i think people forget, but look, if you have inflation living in the 3% to 4% range which could easily happen nextier and that's good for e anytimies and they're be2% and inflation is righted --? you don't believe that? >> no. if inflation accelerates that much you're talking about a ten-year equity deal at 26.5 forward earnings and you look at financial conditions easy levels back to 2021.

a fed not cutting in 2025 will drain liquidity and that's a real challenge for equity marks at these valuations. so if we do see a reacceleration in inflation, we would see that as a key negative driver of marks markets and likely lead to a rotation away from growth and into value which would be dominated by energy. >> how would you respond, samir? >> we do see 4.5% and 4.75 and we have a higher growth target and consensus and i guess we're very constructive and we're very bullish and all of these things can live together because you finally have an economy that doesn't need fed interest rate cuts. most people have forgotten a time that that used to be normal. >> nor, last point to you, elise. stronger points supersedes everything. that's essentially what i hear. do you agree with that? >> i think so. we would characterize this as a

high and healthy environment and growth would have gone in a faster rate than they were in the post global financial crisis decade, but we're putting even ought odds on the risk of inflation reaccelerating and a growth slowdown coming to fruition, and we want to make sure we've got effective utilization of the tools in the tool kit to protect portfolios a codingly. >> we'll leave it there. >> good to have you as always. samir, we'll talk to you soon. thank you. we are just getting started here. up next, the bitcoin breakout hitting another intraday high well above the critical 100k level and we're above 106 now and we will break down whether the rally does, in fact, have more room to run as some suggest. we are live at the new york stock exchange. you're watching "closing bell woet "on cnbc.

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♪ ♪ ♪ all right. welcome back. let's send it to kate rooney for a look at some of the day's biggest movers into the close. hi, kate. >> hi there, scott. it could be a rocky road ahead for ford according to jefferies which has downgraded shares to underperform from hold and cutting it to nine bucks from citing inventory overhang as the biggest potential drag and the legacy automaker has struggled this year, down about 18% or so since january and then some swaps to tell you about in the nasdaq 100. moderna and illumina will be leaving while palantir and exxon, and you have the microstrategy and also joining the index today 5% higher on that news. microstrategy has been added to the invesco qqq.

>> that's kate rooney and for more on bitcoin's record breaking run and as we see the microstrategies of the world and robinhoods rising, as well. >> bitcoin starting the week on solid footing, rising above $107,000 for the first time ever and e's a nice flurry benefiting here and the s&p and the nasdaq today. bitcoin is a risk asset and especially with more institutional adoption it trades in tandem with tech stocks. speaking of tech stocks, kate mentioned microstrategy, and today it made yet another purchase and its fifth since november and including on our air earlier today that he thinks it's always a good time to buy bitcoin even at the top and even if the company will continue to do so. so that stock off its highs of the day, but up 7% at one point and like kate said, follows the news that starting december 23rd it will be included in the

nasdaq 100 and the popular qqq etf which tracks that index and that is a team of excitement and contrast the big buys by microstrategy and big buyers and institutions at large with the supplier of bitcoin. their data is showing that the amount of bitcoin that otc desks supplied to institutions and large buyers have fallen sharply since december 10th and of course, there is the fed which is expected to lower interest rates this week which will likely benefit bitcoin because it will trade like risk asset. >> tom lee was here last week and said 250k maybe next year. what do you think investors are truly expecting to finish the year? >> 250k for next year, certainly at the higher end of what we've seen. i think, you know, it's anyone's guess here. a let ot of analysts and invest were seeing 80 to 90 for the end

of this year. above 100k would be welcome to anyone and the rallies we do see do come with very frequent or drawdown and if it did pull back to the 90k range or 80k range and based on what the chart analysts on wall street are telling me and that would still be considered a success for investors. >> all right, thank you. on the bitcoin case. coming up, one of the most powerful bull marks in history. that is what bank of america's chris hyzy is expecting for stocks and he will tell us how he is positioning right now. "closing bell" will be right back.

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♪ ♪ ♪ ♪ ♪ the nasdaq hitting a record high to start the week. apple, google, tesla, broadcom all leading the charge. our next guest expects even more upside ahead saying investors should prepare for one of the most powerful bull markets in history in the years ahead. let's bring in chris hyzy of bank of america private bank. good to see you.

do tell more, please. >> our thesis is not just next year and next year is a launchpad, scott for what we call the asset light era. simply put companies are becoming more asset light. less leveraged and less labor intensive and less fixed asset heavy, so higher multiples makes sense. less credit sensitive, more cash and the asset light companies have the cash to buy the asset heavy things like power generation. it's almost the perfect marriage, scott, when you think about it and if the supply of assets is going to go down and the demand for assets is going to go up, while we become more asset light that is over a much larger period than what most people expect and the asset light era. >> when you say higher multiples makes sense, are you suggesting higher multiples from here or that these currently make sense so no worry about those who suggest, well, valuations are

already too stretched? >> right now they are stretched for looking back, but as it relates to where we're going and how innovation is happening much more rapid, a transportation, a trucking company today is really not what it used to be. it's a computer with wheels. so from my perspective and our perspective here in the office anyway, we're looking at these high multiples are not being stretched and should you expect normal multiple expansion and that will only come if there is another reversion to the upside as to what the growth looks like on a go forward basis. i think we're good where we're at. we should not expect more stretched valuations from here and let's just keep where they're at while the growth and the profits to come forward next year, and i think that's why you see a very good first half of next year. >> what stocks are going to drive this bull market that lasts for a long time, chris? >> it becomes a characteristic driven overall. we've had our movement up where

the narrow leadership drove the higher market cap areas of the s&p and then there was rebalancing that took place. the best of the rest is what we call it are now starting to see more positive earnings. they had negative earnings for most of last year collectively, so you get a little bit more rebalancing, but it is still going to be more companies that will drive this asset-like theme and we would expect tech to continue to participate and perhaps slow down on how big and enormous the outperformance was and then bring others into the equation to help lift the s&p for more normal returns. you know, we're going to print potentially 25% or better this year again, and it's hard to see that happening again next year. we would say let's look at profit growth of double digits and that should be expectation for all of 2025. double-digit returns, low, i assume you're alluding to for next year and maybe more robust in the years that follow because of all of the reasons that you

just suggested? >> that's right. i think what we have to look at is we're all patterned to look at the negatives that are the known unknowns. how about some of the positives? what we are witnessing in innovation is happening on top of a technology stack versus creating the ground floor, so if you can build on something that's been built, you don't have to spend as much capex and if you do, the rely on the capex comes quicker and that's the thesis, more rapid, dem ops trative, inrigz her's where gets interesting, scott. we think a good portion of the productivity theme is not just about operating leverage at the top and bottom line, but when you get rapid innovation where the costs are heavy, that lasts a lot longer that that's what we happening we're witnessing right now and it's just beginning. >> are you thinking about possible negatives or at least

all of the positives needing so very much to offset whatever negatives there are? spending cuts, tariffs, higher rates, stickier inflation? what do you think? >> yeah. you know, much of the positives outweigh some of the ones that we're worried about. let's just start with tariffs. we don't know what ultimately is going to come down and how much and where and all that, but generally speaking a tariff is a tax. you give it time it becomes a tax on growth, so i have to watch that very closely, but our view is pretty simply, nominal gdp growth split between the real growth of three and perhaps inflation of two and a half to three gives you 6% nominal gdp. on a real basis about 2.4, 2.5 and that's enough to create revenue growth and to the down side, that's for your margins and they could expand.

on the overall geopolitical cal, it's not goods but we're getting to this world wold of that area getting very much elevated and finally inflation. in the 1990s we averaged 2.5% to 3% inflation given the year you're talking about and growth is good and that's what you expect time around. still flat and a little bit steeper, but not the inversion that we just went through. >> yeah. when it comes to the private bank, i mean, what are you advising your best and wealthiest clients to do as it relates to crypto? how are you thinking about that as not just a, you know, a such a young asset class, but one that's going to be much more mature in the years ahead and maturing much faster than maybe some thought because of the stance that this administration's going to take regarding it?

>> well, it's a private bank or merrill we don't provide guidance on the crypto space from the office. what we look at is the general risk taking and it's an emerging asset class and it is trying to figure out new ways to get exposure to it. they're opening up some of the mandates and it appears that if demand continues to rise simply on the basis of institutional demand and as all of this outgrowth continues it would be absolutely critical that anyone that looks at a full portfolio to run metrics as much as they can because you can get overexposed to areas of asset classes that are very highly correlated with each other, i.e., technology, nasdaq and the areas of this emerging asset class. they're all very highly correlated and it's really important to watch the overall exposure to all those risk factors together. >> i understand, let me try again in a smarter way on my

part, but as a chief investment officer, are you thinking about crypt crypto in different ways today than even if you were six months ago in the kinds of asset classes that you think will perform the best in the years ahead, whether you're advising clients or not is almost irrelevant. i mean, if you're going between stocks and credit and cash and now here we have an asset class that has sort of captured the imagination of america, even more so now because of the new administration? how does that packer into facto you think about the markets and asset classes in general. asset classes in general and let's put the market off to the side for a second. how do we think about that? that's when you get this feeling of -- i wouldn't call it euphoria, but excessive risk taking across the board. is it too much? we'll leave it to those areas of

the marketplace and what we do watch is those correlations that i mentioned. if you're going to get a rise in technology and a rise in nasdaq and the nasdaq 500 and a rise in an emerging asset. then what if liquidity goes away. that's number one. we're watching that closely and not to get overly exposed. number two, as it relates to overall portfolio construction, institutional investors, high net worth investors, family office investors have always looked for less correlated, non-correlated assets, non-correlated return streams. they're still doing that and it's just beginninging with wi newfound asset classes and it's part of just the way of thinking about that? >> yeah. that's -- that's what we're hearing every day. it's been this way for a long, long time whether new asset classes come and go, but that's

exactly how they're thinking about it. >> we'll talk to you soon. that's chris hyzy issue as you see bank of america and merrill. up next we're tracking the big beens and kate roony is back. hi, kate? the pair fast food giants moving in opposition directs and we'll reveal which ones and why after the break.

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we are less than 15 from the closing bell and back to kate rooney for the stocks you're watching. tell us what you see. we'll start with starbucks down almost 4% today. the coffee giant on pace for the first day since may after reuters reported the company partnered in india is recalibrating its starbucks store openings and it did reiterate its commitment and a thousand starbucks there by 2028 and another issue over at starbucks, coffee prices and they're now over 70% higher for the and starbucks said it was increasing its parental leave policy up to 18 weeks for the birth parent for those working at least 20 hours a week. mcdonald's after being naved a top idea and the firm looking at mcdonald's customer loyalty and value offerings to boost same-store sales despite softer traffic for fast food restaurants and mcdonald's shares have recovered from the june low. they're now about 4% higher for the year, scott. >> all right, kate, thank you.

a few pieces of news on the social media front. julia boorstin has more. >> bitedance is asking to temporarily block the law by january 19th. it comes after an appeals court results in tiktok's ask to halt the ban. we are asking the court to do what it traditionally has been done in free speech cases apply the most rigorous scrutiny to speech bans and conclude that it violates the first amendment. it would result in the censorship of 170 million americans on january 19th and that small businesses on tiktok would lose more than 1 billion in revenue and creators would have $300 million in lost earnings in just one month unless the ban is halted. scott? >> julia, thank you. that's julia boorstin. broadcom up nearly 40% in the past two trading days. we will dive deeper into that

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♪ all right. coming up next, split decisions, honeywell and capri higher as they weigh potential spin-offs. "the market zone" is coming up next. the fearless investor. the type a cpa. the boot strapper. the boot maker. hee-ha. but many do have something in common. we all trust schwab with our wealth. thanks to our award-winning service, low costs and transparent advice, every day, over a million multi-millionaires, trust schwab with more than three trillion dollars of their wealth. ♪♪ big news for mahomes! i'm switching to iphone 16 pro at t-mobile! it's built for apple intelligence. that's like peanut butter on jelly... on gold. get four iphone 16 pro on us, plus four lines for $25 bucks. what a deal. ya'll giving it away too fast t-mobile, slow down. (realtor) we've been telling clients it's nearly impossible plus four lines for $25 bucks. what a deal. to sell a home in winter.

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two stocks going in opposite directions today. >> second day of gains for broadcom after gain 6%, goldman sachs the 25 other analyst on wall street to lift the price target from 190 a share to 240. shares are higher today and they're referencing broadcom as the key enabler of the gen ai trade and separately there's been this growing debate about inference versus training and they talk about this in the morning note about how there could potentially be this investor rotation out of training which, of course, is dominated by nvidia and into the companies that are focused on inference which is running these ai applications like a broadcom and marvel and their ceo is joining cramer tonight, but it is reflective in today's price action with nvidia shares down and broadcom and marvel trading higher and also around the $100 billion investment and it expected to be around ai infrastructure and jensen wong does have a good relationship, and he was in japan just a

couple of weeks ago and they were talking about ways to partner together and yes, we are talking about shares of super micro down in the last hour being dropped from the nasdaq 100 which is the house of non-financial 100 stocks, concerns around the future and of course, that nasdaq extension coming up next year. >> all right. thank you for that. that's seema modi. courtney reagan, to you on capri. >> capri shares getting a boost after a wwd cited forces after the possibility of spinning off leaving michael kohrs as rs as remaining brand and the deal was blocked by the government and both companies decided to end discussions as it was going through the court system over the last several weeks and shares of capri are trading much lower than they were at $22 a share and in the recent earnings call after the deal fell apart, john idol fell in part that it

is open to discussion about the asset and it's a public company and the company's first commitment is selling or separating jimmy choo and versace would allow the focus to be entirely on rebuilding michael kors which is the largest of the three and perhaps has the fewest obstacles in the turnaround and it would undo a strategy of becoming, quote, a global luxury group as it outlined michael kors first bought jimmy choo in 2017. >> court, thank you. >> courtney rieg eagan, phil tes about honeywell. >> stocks are moving higher after the aerospace business. remember last month when elliott group took a stake in honeywell? they said look, this company is undervalued as a conglomerate and it might be a different story and theer's is is the sto. the revenue and the company sales, 40% of the company sales and the potential valuation of 90 to 120 billion including debt and the bottom line is this and

you're looking at elliott using the playbook that we saw both the ge and that's moving to higher valuations for aerospace. [ closing bell ringing ] >> that is the in the regulation, the closing bell at the stock exchange, it was a record close for the nasdaq, driven higher by the big gains in you guessed it, communications, services, even technology, and, despite the record nasdaq close, the lowly dow jones industrial average extending its losing streak to eight days. that, my friends, the longest losing streak in more than six years. how is that for an rbi