overtime. the company just saying it is suspending its dividend as it, quote continues strategic priorities. see that down 5%. apple now down a percent and a half after earnings. >> we'll continue to watch. apple stocks finished higher today. that does it for us here at overtime. >> fast money. >> starts now. >> live from the. nasdaq market site in the heart of new. >> york. >> city's times square. >> this is fast money. here's what's on tap tonight. all eyes. on apple taking a. >> leg lower in just the. >> last few minutes. >> now, at after hours lows. >> the tech giant missing iphone revenue estimates seeing a big drop. >> in china sales. >> we've got all the details. >> on the numbers. >> and we'll bring you the trade and breakout or breakdown. >> two bellwether. >> stocks doing. >> big about. faces this week. are these moves a. >> change in trend or just a temporary blip? we'll dive into the charts to find out. plus ups doesn't deliver. comcast sees its worst day since 2008. and an

old school tech stock hits all time highs today. i'm melissa lee coming to you live from studio b at the nasdaq. on the desk tonight tim seymour, karen finerman, guy adami and michael kontopoulos director of fixed income at richard bernstein advisors. welcome, michael. we start off with apple results. big tech giant reporting its fiscal first quarter results in the last half hour. shares right now are down about 1.5% after a rare miss on iphone sales. the company did beat on the top and bottom lines, but posted an 11% drop in china revenues. apple's conference call started just moments ago. cnbc's steve kovach is at apple headquarters with more. steve. >> hey, melissa. yeah, the big headlines out of here. iphone sales down, china sales down. that's despite beats on the top. and bottom line. let me give you some of the numbers here. and then we'll talk about what all this means. eps was a beat by $0.05 at $2.40 revenue, a slight beat by a couple hundred million dollars, $124.3 billion there. iphone. though this missed expectation 69.14 billion. street wanted 71 billion. and by the way, over sales year over

year for the period down about 8/10 of a percent there. services though that is the bright spot the last several quarters here, up 14% and beating expectations at $26.34 billion and then greater china. this is the big one down 11% year over year to $18.5 billion. i did get a chance to catch up with tim cook on these apple earnings and talking a little bit about ai and how that's driving iphone demand. that is the big question of course going on in here. let me tell you what he said. quote, we saw that in markets where we had rolled out apple intelligence that the year over year performance in the iphone 16 family was stronger than those where markets where we had not rolled out apple intelligence. so basically saying here, apple intelligence, at least in the areas where it was available, that's the united states and some limited other countries last year and limited languages last year. it did outperform where it was not available. and then china, of course, we talked about that and

what went on there with sales down 11%. he gave me three reasons here. part of it is that no apple intelligence in china. they're waiting for government approval before they could launch apple intelligence in that country. that includes partnering with a chinese ai company, whether that be baidu or alibaba, or even deep seek to replace the chatgpt functionality, which is banned over there, by the way, they also have to get their own apple intelligence models approved as well before they can launch. he also told me they're working with regulators to get apple intelligence approved, but no updates on progress there. he also in china, blamed some channel inventory problems and government subsidies that went into effect for some electronic devices this month. it's unclear how that impacted last quarter, but i'm expecting to hear more on the call from tim cook on that about what really went down in china. we should be getting some more details on that soon. and then also tariffs. i did ask him about the potential tariffs from the trump administration

that would impact apple, probably more than any of the big mega cap tech companies we talk about, he said. they're monitoring any potential tariff impacts that would have on the company, but really declined to comment further. whether or not president trump has given any indication that apple will miss out on tariffs like they did in the last trump administration. like you said, the call is just getting started now. we should be getting some guidance from the new cfo and also some more commentary on these disappointing china numbers. right now, though, you see, shares are down about a percent and a half. melissa. >> those government subsidies that you mentioned on electronics, steve, is that government subsidies for homegrown brands, for domestic brands. >> it's unclear. so we're hoping to get more details on that. he did say i believe he told me that apple is involved in that in some way, but we're waiting for more details on that. but this is again for this year, not the december quarter we're talking about. so i'm not sure if the implication here is whether or not people were

holding off on their iphone purchases for these subsidies. we're going to find out in a few minutes hopefully. melissa. >> okay. >> steve, keep us posted. thank you. steve kovach, a lot of the issues that stephen mentioned in terms of the weights on the quarter, we knew, especially the china weights, but china was down 11%. and maybe that was, i don't know, worse than expected. what do you make of the quarter? >> i think. >> that's what people. >> are probably expecting. >> i mean. >> for. >> me, yeah, people will look at. >> china. >> 4% revenue growth. >> maybe seven. 8% eps growth. services went the. wrong way in. >> my opinion. we're down about. 22% of. overall revenue. >> with that revenue growth, i would. >> have liked. >> to. >> see better. >> and then you say to yourself, you know what? >> again. >> understanding this is. >> backward looking. the stock just i think. >> just got a little. >> more expensive now. >> 220 was. >> the level that we held. we actually. >> talked about it on this show that had been prior support. i think the bounce that we've seen up. >> to 240 probably. >> did it. >> a disservice into. >> this print. i mean, i. don't think. >> you have to run away from it,

but it wasn't all that exciting. >> for me. >> so we expected weakness in china. this was weaker weakness. >> more weakness. >> for sure. so are we near the end of that? who knows? probably not, you would think. right. >> we haven't. >> even gotten into i guess this weekend starts off tariff season apparently. so we'll you know, we'll see. i think that i was surprised wearables actually. >> didn't do. >> a little better. i thought that holiday season was was good. i would have thought i mean, it's relatively. small portion, but i would have thought that would have done a little better. so i mean, to me, nothing super shocking, just a little weaker than i thought. and it leaves me lukewarm on it. >> no timeline. excuse me. on apple, intelligence seems to be very troubling. i mean, it gets to a point where if people are buying domestic brands with ai features already, what is the time lapse that has to happen between the purchase of that, you know, huawei phone or whatever it is. domestic and then right, domestic in china and the next apple purchase. i mean, at some point they're sort of forfeiting market share just by not having that ai feature. and who knows when those customers would come back if they come back at all?

>> well, i don't think anyone should be surprised by those china numbers. >> i mean, we just. >> got fourth quarter numbers in china two weeks ago. we knew they were those were down 15% for the quarter. we know where they've been losing market share, where they're in third place. >> et cetera. >> et cetera. we know that the local administration has been supplying. >> subsidies for low to mid tier phones. >> so by. >> the way apple's not a low to mid tier phone. so you could. >> make an argument. >> that that. >> really shouldn't. >> be eating into their market share. >> but but. >> tell me. >> who's even. >> close to apple. >> everywhere else in. >> the world. and that. >> includes china 2.0. and you know which is india at least in terms of a smartphone market, that's. >> i would. >> say in its infancy. and you're. >> not going to. >> find one. so to. >> me, the fact that. >> the. >> services business was up, you know, better than expected north of 14%, that the margin on that business, that the asps on the phones are selling everywhere. >> else in the. >> world. and by the way, haven't. >> priced in. >> in. >> any i. >> these numbers were fine. this wasn't even. >> about the quarter, by the way. there was nothing in this

quarter we expected to be good. and the fact is, i think you got a better number on services. the biggest issue i have for. apple right now that's. >> not china. >> are regulatory dynamics in europe, which are a big. >> deal when 30% of your. >> app store revenues, you know, 30% of your services revenues come from the app store. so that's something to worry about. but as someone who's long apple and you know, i'm not i'm not pounding the table on apple here, but you can't tell me there's a lot of good news priced into apple. this is a stock i want to own because there's zero. >> and deep tech. >> if anything. >> shows in apple. is there enough bad news priced into apple? >> i don't know. i mean. haven't we been talking about china for 6 to 9 months in, in in apple. and that's related to the. handset sales and some tariffs. i mean i think the tariff is still an unknown dynamic. but again, and we know that apple caught a bid on the day of deep sea because the sense is that the efficiency for ai to the smartphone could happen and proliferate faster. so i you know again i sometimes i feel like i have to really defend apple here. it's i'm sure most people are long apple, but it

doesn't seem like there's much sentiment in favor. >> all fair. and the. >> margins were better. >> and you know i'm going to beat you to a. >> question you typically. >> ask. >> which is. >> what what do you want to hear from? what's your. >> first question. >> on the. >> conference call? what is your first question? >> free cash flow, miss? >> i think the street was like 36 billion. it came in at 27 or so. and, you know, i'm just trying. >> to do. >> the math, which i can't do that quickly. but, you know, where did that come from? but to tim's point, we've been talking about potential weakness in china for quite some time. the flip side of that coin is, though, this was supposed to be, and maybe it's going to be a couple of quarters, you know, the big upgrade cycle. vis a vis ai and those things, i mean, for these numbers suggest that didn't come to fruition. >> you know, the tariffs, the soft retaliation in terms of the response from beijing may not be tariffs. it may be, hey apple, you can't have your ai partner here and you're just going to have to wait. and you will wait long enough. so all those people who want to buy ai handsets will go and buy a domestic handset instead, and you're just going to have to wait until all those people want to upgrade, and then maybe you'll get a shot at getting them back. i mean, that's, you know, in the scheme of tariffs, the sort of that's the realm that's sort of

unquantifiable, right? it's sort of the how do we get back without hitting you with an actual tariff. >> yeah. i mean, i think that's absolutely right. and what we've. seen from. >> president trump in the past is that. >> you know, that unpredictability can can really sort of, you know, move markets and move sentiment. and, you know, i would expect more of this throughout the year. and we saw today with maybe we'll talk about it in a bit. we saw it with canada and mexico too. and you know, it's that uncertainty. i think that could leave a bit of an overhang in certain parts of the market that are exposed to, you know, tariff retaliation. >> for more on apple's quarter, let's bring in fast money friend gene munster. he is also an apple shareholder. gene, what did you make of the quarter? >> melissa. >> there's some challenges. >> that. >> i. >> wasn't anticipating. >> and as tim said. >> that the street was. >> widely aware. >> that the china. >> number was going. to be soft. but if. >> you factor in what happened in china. >> and look at what. >> happened in. >> the rest of the. >> world, that. >> was. >> a miss, too. >> and so i was. expecting rest of the world to be up 4%. it was up. about 1%. >> and i just kind of want to. >> drill into that for one piece is. i've been bullish on what apple intelligence could do. >> back in september.

>> my optimism. >> has slowed. >> slightly as the. >> as the. >> rollout has been. >> slowed. >> but i have remained. >> optimistic that apple can beat. >> their iphone. >> numbers based on this huge upgrade. >> pool from 2021. >> that's the. year where iphone grew at 35%, and the december quarter is the first quarter where we start to see the real fruits of that upgrade. >> cycle coming. >> from a few years ago. and so i was expecting the rest of the world. >> even without. >> apple intelligence, to kind of power this higher. so that was one piece that stuck out to me. and then i want to highlight. something else that you said, melissa, on this tariffs and. potentially restricting apple with a partner to do. i to put it into perspective, huawei's business was up 15% in the quarter. and so apple china business iphone was probably down 12 to 13%. and so what that tells us is maybe it's because huawei has this cecilia assistant that is an ai assistant that's gaining traction. but there's also kind of a question of is there a

little bit of a shift in terms of how chinese consumers are viewing these western brands of put samsung in the western category? they struggled to. all the other non-chinese brands were down in the quarter. some of those have ai assistants. and so that was the bad news. and melissa, it's only fair for me to point out the good news because i'm a shareholder and i do believe where this company is going is tim cook said on the call that their active installed base was up. he gave the math back into the math, was up 7% year over year to 2.35 billion active devices. that's impressive. i mean, to grow that number at that rate, it's testimony that despite any sort of variance in what's going on with the iphone in any given quarter, the fabric of that flywheel and their customers remain loyal, which i think ultimately is going to be something that apple investors are going to take some, some confidence into tonight as they think about these numbers. >> you know, gene, going into the numbers, there had been sort of a drumbeat of downward

revisions rerating apple lower. there's been a couple of downgrades, price targets being lowered, estimates being lowered, etc. and i'm i'm just wondering if you think apple, given the quarter that it just printed. and granted we don't have the guidance yet. maybe we should factor in a much slower iphone trajectory in here. and so if we're going to say that iphone growth is going to be, i don't know, 1% or whatever it is year on year from now on, what is that multiple that apple is worth? and can services make up for that. >> well, i think just first on iphone, i expect that the iphone guide is probably going to be below where the street's at for march, just given what they reported. and that kind of sets up iphone for the full year. the street's looking for around 3% growth for it probably to be kind of around that 1%. and then like your point is, what's the right multiple on this when you put services into this. and at the end of the day, i still come back to this belief that this is a consumer staple company. we saw that active install base. this should have comfortably a

multiple on the outyear numbers. that would be calendar 26 somewhere in the 25 to low 30s number. i mean, you go back to the we've talked a lot in the past the coke, the clorox procter and gamble. those types of companies have those kind of multiples even though they don't grow. i think apple is that kind of staples company and does have upside to it relative to some of these things with apple intelligence. apple intelligence is going to have an impact. steve kovach reported that from cook, it's going to have an impact. it's going to take longer than what i hoped with a lot of people hoped. it's probably 26. but as you play this forward, think about the apple investor. now we're seeing downward revisions to numbers, but then you start looking out over the next several quarters. you should start to see accelerating revenue growth off of that. >> all right gene thank you. let us know if you hear anything from the conference call we'll do munster. so how do you look at the picture now granted we don't have guidance yet. >> right. well i like to this is why. >> i always. >> say you've got to listen to the call. you want to hear the body language and you want to

hear, you know, also the questions are really important. i'm you know, the point you brought up, i think is a. >> really. >> important one. gene sort of touched on. so how much went to huawei? that was really pretty good growth. and apple was the reverse. the mirror image is that a customer lost forever. that was your point. sort of leaving the ecosystem. right. and then how does that figure into the multiple of going forward. >> what if you just bought a huawei phone. right. are you going to buy another phone? you might have that phone for three years or however long. >> and then you might be in the huawei ecosystem. >> right? right. >> so i don't know i want to hear about that. >> yeah. but but again, i think we know the share losses in china are going to continue. are we. the question is are we worried about share loss anywhere else in the world than china? and if we're not, this is an asp story. this is a margin story. i just again, i don't think you've priced a whole lot in. and remember also this stock when it broke out from around. 190 to, you know, 195 ish to the current range, it had done nothing in two years. the stock has done nothing for a long time. that's not a reason to go buy a stock, except for the fact

that if you think about where we've been in the world of technology. >> and. >> innovation and efficiency. and this stock has not participated. >> you know, we don't cover individual stocks at rba. but i did find something that gene mentioned super interesting and that he views apple's consumer staple. yeah. look what happened in 2022 2022. apple was down something like 27% in the broader tech sector, got completely hammered. staples were not. staples did quite well. these are technology companies. they're cyclical. and they're also going to follow the global cycle. and if the global cycle slows, that's just something, you know, i think investors should pay attention to not saying that it will. right. >> but huawei's assistant celia, what does that. >> make you think about it? >> celia. >> celia. celia. well, cecilia. >> you're breaking my heart. >> you're breaking my heart. and for people. >> that are watching right now, a little heartbroken, but not all that much. that's a that's a paul simon song. >> was it simon and graph or did. >> paul do it by himself? >> let's let. >> art back away, please. do you have anything else to add? >> i have a lot to add. >> so the free cash flow thing, i mean, i wonder if it comes up and it's evaluated. i mean, tim

says it's a valuation story. what are you willing to pay? and again, services gives them a premium valuation. but it's funny and we've said this a hundred times when this was a growth company a decade or so ago, it was trading with a 12 or 13 multiple. now that it's basically become, i don't know, a value company ish, it trades at a pretty expensive multiple. so something's a bit askew here. >> meantime, president trump announcing that he will decide tonight whether or not to impose oil tariffs on canada and mexico. megan cassella has got the details megan. >> melissa. that's right. those tariffs are still up in the air but some others firming up. this afternoon president trump formally announcing he'll be putting 25% tariffs on canada and mexico this saturday. he had threatened these last week. but there had been some expectation that if the two countries took action to tighten their borders and stem the flow of fentanyl, that the tariffs could be avoided. but trump, being firmer now saying that he's taking action not only because of immigration and the flow of fentanyl, but also because of trade deficits. >> i'll be. >> putting the tariff of 25% on

canada and separately, 25%. >> on mexico. >> and we will really have to do. >> that because. >> we have. very big deficits with. those countries. those tariffs may or may not rise with time. >> now. >> trump was also asked whether oil specifically would be included in the tariffs. and he said maybe. he said he would decide probably tonight on that point. and he also seemed to downplay the impact of the tariffs, saying that us, the us has all the oil and the lumber that it needs. so this is the clearest language that we've seen yet from him on these tariffs. we do still have about 48 hours until they would take effect. so a little bit of time left to wait and see if anything changes melissa. >> all right megan. thank you. megan. cassella we may have enough lumber. we may have enough oil, but there are plenty of other things that we get from canada and mexico. in fact, cardinal health ceo on his conference call today was talking about the impact of tariffs on that company. that is a health care, health services, health products company. their impacts far and wide that we're not even thinking that's not

just oil and gas here. >> right. and the nearshoring that so many industrial companies in the united states have taken part of in mexico, i think they're not going to be thrilled about this. so the, the, the analysts are already coming out and trying to what is the impact of and i saw ubs report that said 25% tariffs on canada and mexico equals 80 basis points. drag on gdp, but not a terrible increase in inflation. in fact they say on an annual basis ten bips. >> what do you think? >> yeah, i mean, i think it can't be underappreciated. the amount of inputs that come in from from mexico into the us to, to build stuff. right. and so it really does. it does bite quite a bit. it will not help the jobs market in the us. and don't forget the agricultural aspect as well. we do a lot of agricultural trade with with mexico. listen, this is just the beginning. and even though this specific announcement might not be broadly inflationary, the general tariff tone and where that's going likely is not going to help inflation get back down to target. >> you know. >> there's this lens of we're either winning.

>> or losing. >> and if you see a deficit it assumes that we must be losing. but all it really means is we're just. they're our good. their goods are attractive for our economy and for our consumers. it's not a win or loss. that's just the way the economy works. so i think if you look at it through that lens, it makes a lot more sense. but these tariffs, to your point, i don't think people really fully, fully realize the ramifications. >> yeah. and to that point, what what are they going to do back. and who is that going to hurt. right. so we sell vehicles whatever to canada right. i don't know what you do if you're canada. do you. do tit for tat or do you. >> what do we do to sort it out? guy. >> so, you know, it's an interesting question. well, we you know, we have a lot of great canadian hockey players here in new york, some of them not playing as well as. >> they probably should be. >> not really that interesting. coming up, we'll keep an eye on apple shares, bring you all the headlines from the conference call as they come in. and we've got more earnings action to bring you. in the meantime. shares of intel on the move after reporting results. the numbers out of that one next.

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>> welcome back to fast money. we've got a little bit of a turnaround in apple shares in the after hours session. on the conference call. the company just giving out guidance for its fiscal second quarter current quarter, saying it's going to be in line with what the street was estimating. so we're up about 3% right now. yep. meantime, an earnings alert out of intel shares higher after hours despite the company issuing weak guidance. cnbc's christina ellis has got the latest. christina. still no word on a permanent ceo, though. >> no, it's progressing, but they've told many analysts before it's going to take about 4 to 6 months. so that's as of last month. so who knows in the next three months or so. they said on the call right now that it's underway, we cannot be all things to all people. and more specifically, they admitted they're not yet participating in the cloud ai data center market in a meaningful way. so much so that they were supposed to launch this falcon shore gpu, their own gpu, and they just announced that they're simplifying things and they are no longer bringing that particular chip to market. it was interesting to the ceo. i

was able to chat with both of them in the 3:00 hour, just about the fact that the q1 guide was light. they blamed seasonality. they also said that a lot of the purchases were pushed forward into q4 because of tariff concerns. but the other thing is margins, margins taking a hit a little bit lower than expected for q1. and they said that what they're doing is they're taking parts for their chips, like memory, and then taking it from the vendor and literally selling it at cost. so they're really not making much money on those chips, and they're planning on doing that for the entire year, i guess, in a way, to stay competitive. and so that's why margins will stay lower until they ramp until into 2026. and then, of course, the foundry business is still part of the equation at $4.5 billion. but they spent a lot on it. and they anticipate that still to grow. and it's no word yet if anything's going to change in that environment. >> what is the interpretation of them not pursuing to market that falcon chip? i mean, it would seem like it's a good thing if they if they know they can't win that battle, why go ahead with that chip? >> i think that is a reflection of maybe the criticism around

pat gelsinger, the ceo who has stepped down, that maybe he overcommitted and tried to do too much. you know, it was five for nodes and 5 or 5 nodes in four years, all of these promises. and it was interesting that on the call, the co-ceo, michelle, she even said, i am she's not overcommitting she used those words. and so i thought that was kind of a maybe i'm interpreting it as a dig or anything like that, but that could be why they're showing, like, look, we're going to get rid of a few products here and we're going to focus on our athena, which is more of an ai related chip and more advanced nodes, and the foundry business. >> well, so the foundry business exactly is a place where they should be focused, or at least seems like people want to throw money at them. and this government. so what's happening with that? and can you make some assessment? i don't know if these numbers are really available yet if you've gone through them, but balance sheet wise, i mean the sense is this is a company that actually i mean, they've been cutting staff. they've been it's almost like you're worried about free cash flow in a way that is this company's balance sheet imperiled. but, you know, all the foundry business that we want in this country and we want for intel costs a lot of money and takes time.

>> right. and so your point that they laid off a lot of people, the packages and stuff like that, the cash flow is still pretty strong. i don't have the exact number with me right now for the foundry business. on the call, they the co-ceo said that they have a strong pipeline of customers. i asked specifically names of customers. they they don't provide that. so it appears like things are still rolling ahead. but when you try to get names or any word about, you know, there's been rumors about buyouts, there's been all kinds of stuff going on with this company, and i think that's not a good position when even at that you don't even have a ceo going forward. so how can you streamline and focus when the ceo is going to take it and change things around? possibly. >> christina. thank you. christina. nevertheless, stacy rasgon of bernstein noted chip analyst, said earlier today that it almost doesn't matter what they say in the quarter. all we want to know is who is going to be the ceo. yeah, right. like all the numbers are nice, but that's not what really matters. >> yeah. this quarter though by intel standards is a huge win i think. and the people say the guide is not great. you know what? the guide is not great.

but you know that quarter alone speaks to the cost cutting. and tim and christina were just talking about and it's seemingly working. so when this stock no longer goes down the bad news is still not you know, it's still not bad, but it's getting a little less bad. as tim says, this should have been the i in somebody acronym this year. i think. >> it could have. >> been. >> i thought i. >> think it is. >> well. >> i think dan's got it. >> oh and jen i. >> i think jesse. >> oh you're right. >> yeah you're right. he should stuff that in there. >> right. all right. meantime ups sinking 14% for its worst day ever. the company saying that it's planning to cut deliveries for its largest customer amazon, by more than half, in turn taking a bite out of revenue going forward. listen to what ups ceo carol tomé told cnbc about that amazon partnership. >> we knew if we didn't take action, it would have diminishing returns. what that means in terms of the guidance is simply this in the united states, our volume will decline in 2020 2025 by 8.5%. our revenues will decline by about

2%, but our profit will increase by 14.5%. >> she actually said. amazon is the largest customer, but it is the least profitable customer. so that that's the reasoning behind it. karen, what did you make of the quarter? >> well not well. it's more the amazon going forward thing. that was. >> the. >> so obviously she talks about it. there's a huge customer low margin business and sort of dismantling some of the infrastructure that they have made to handle the amazon business. i never like shrinking in a in a right in a, in a business that well, it's never. >> good in general. >> i understand why they're trying to do it, but it's still not a good thing that this business, it's low margin. but you do want more revenue. >> okay. we do want to get back to steve kovach. we're getting some more color from apple's conference call. steve, what's the latest? >> hey there melissa. yeah. look at shares of apple. they've turned around. they're up 3.5% now after being down 1.5% when the call started. this is from

guidance from apple cfo talking about despite some foreign exchange headwinds. we all know the dollar is getting stronger. they do expect to see march quarter revenue grow again in the low to mid single digits. also saying for the services segment will grow in the low double digits year over year. that's pretty much in line on the services front from what we've been seeing for the last several quarters. they are expecting, though an fx headwind of about two on revenue of about 2.5% compared to the year ago quarter. we see shares going up even more here. now on this up 4% now melissa. >> all right steve thank you steve kovach. yeah. apple shares up more than 4% right now. we'll keep you posted on that conference call which is ongoing. there's a lot more to fess wanting to come. here's what's coming up next. >> the major averages may be muted today, but a couple names seeing big moves. the headlines behind the action in comcast, ibm and more. next. and speaking of big moves, a coffee chain

brews higher and a chip giant gets crunched. the recent moves in starbucks and nvidia, and what the charts are saying about any potential breakouts or breakdowns. you're watching fast money live from the nasdaq market site in times square. market site in times square. we're back right (♪♪) ♪ (slow down) ♪ (♪♪) cut!!!! i get it! slow motion. slow down geographic atrophy. but we don't need gimmicks. stick to the facts. ga, the advanced form of dry amd, can irreversibly damage your vision. but syfovre is an fda-approved eye injection that gives you the power to slow ga. syfovre was proven to slow ga lesion growth over 2 years with increasing effect over time. it's the only treatment to slow ga in as few as 6 doses per year. don't take syfovre if you have an infection,

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cnbc.com. slash disruptors to apply before february 10th. >> welcome back to fast money a couple of earnings movers today. shares of ibm jumping nearly 13% after its earnings report last night. shares closing at a record high. caterpillar falling nearly 5% on weaker than expected revenues. and shares of comcast dropping 11% after reporting a decline in broadband and cable tv customers. it was the stock's worst day since october 2008. and some after hours movers here deckers outdoors dropping despite beating eps and revenue expectations. the company reporting full year revenue guidance just below analyst estimates. shares of walgreens dropping after hours. the pharmacy chain announcing it is suspending its quarterly dividend. that stock is down 6.6%. karen, would you. >> pick one or walgreens? >> i know you can pick one. >> comcast i just. >> i mean, do you know. >> what was happening october of oh eight. >> how bad.

>> things are, right? i mean, the world is falling apart. >> the world was falling apart. >> and it's the same decline. >> yes. so that's not ideal. yeah. there was. >> a not a. >> lot to like in that walgreens. good for them for suspending the dividend. they get they they can't afford to pay it. so the stock will be down. but it has to be. >> i hate these gaap hires like ibm saw. but so it probably does back and fill. but even with that you got to be you have to admire what they've done over the last couple of years. and valuation despite this move maybe it's a little stretch, but it's not completely ridiculous. so good for ibm. >> coming up, two big names making big moves this week. what the technicals are saying about the recent pop and drop in starbucks and nvidia. we're diving into the charts on fast money returns back in two. >> missed a moment of fast catch us anytime on the go. follow the fast money podcast. we're back fast money podcast. we're back right after this. ♪ empower ♪ hey, i got her a little something. a little something, dad? oh, umm. hi.

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meantime, nvidia, whose shares rose triple digits for two years running, is trading near october lows. for a closer look at where these two names are headed next. let's go off the charts with blue chip daily trend report founder and chief technical strategist larry santarelli. larry, great to have you with us. what do you see in these two names? how strong are these trends? >> so starbucks. >> is. >> really picking up. >> it looks very good. >> it broke out this. >> week after earnings. >> and it closed. today at. 20 month highs. >> so it's. >> got. >> a very. >> bullish move underway. >> nvidia is a little bit trickier. >> right now. >> why. >> well nvidia started. >> to break down. >> it had a big high volume. breakdown on monday. it closed below. >> the. >> 200 day moving. >> average for the first time in. >> about two years. and it does. >> have. >> quite a few. >> bearish trend signals. >> right now. so nvidia is much more cautionary. >> are there levels that you're watching that could, you know, mean that nvidia is headed lower levels that it would have to break in order to head lower?

>> sure. >> 115 is the. >> key level. >> right here. so 130 was. >> prior support. >> it went. >> through. >> that pretty. >> quickly on monday. >> so right now. 115 is really. >> the. >> last line. >> of support. >> so we're holding above that right. now about 124. but if 115. >> breaks it. >> probably brings 100 into range. >> and then for starbucks what level do you want to see in order to confirm that it is actually a breakout? >> so i'd want to see it hold over 100 if there's any pullbacks. >> it's had a. >> big breakout this week. 116 is the next key overhead level. so if it can clear 116 that should set us up for new highs. but it's a very bullish chart right now. and as long. >> as it. >> stays over 100 i'd stay on the long side. >> all right larry great to have you with us. thank you. larry tentarelli it's very symmetrical here. 115 on the downside for nvidia for a breakdown. 116 to the upside on starbucks for

breakout here. where do you stand on. >> that at. well tim's been bullish on starbucks i'll let him talk. and it broke a four year downtrend nvidia we've talked about this go back to last march. and golfing pattern stock went down 28% happened in june went down 35%. same thing happened today after earnings went and made an all time high of 153 and change closed lower. and it's been going lower effectively ever since. so today was a good day. closed higher i get it, but it's under pressure for sure. >> i think with starbucks, part of the excitement here is this was the first quarter where actually you could actually put a little bit of brian niccol fingerprints on this. certainly the messaging in terms of what they're going to do and what they're not going to do, they're not going to give the house away. they're certainly going to clean up the house. it's going to be that that third place. again, i just think you get back to the multiple on the company. if you take the lower end of the range, that's been the range over the last 5 to 7 years, and you put the number of most people, the street has somewhere around $4 a share. i mean, this is a pretty interesting story. i think this is a story that actually gets you, you know, you can make an argument for 120 bucks on the stock by 26, but let's let's wait and see where margins go. this has been part

of the story that needed to improve. >> right. and the backdrop to the starbucks story in terms of the economic picture is actually a pretty good one. you were saying that the economy is much stronger than people appreciate. so we actually even though they're they're saying that they have pricing pressures and consumers are are worried consumers are actually in very good shape. >> yeah. consumers are in great shape and the unemployment is low. we saw jobless claims today beating were quite good. consumption was very strong as part of gdp. so the consumer is really rocking. you know there's no real. >> can you. >> speak from channel checks by any chance. we joke because michael is a proprietor of a coffee shop. two actually two. >> what are they named? what are they called again? i forgot. >> sunshine coffee roasters. sunshine. that's right, that's right, that's right. listen, and you know what's good for starbucks tends to be good for the industry and their r&d. so it's not so bad. >> yeah i missed i mean kudos to you. i just thought that brian nichols the day he was announced and the stock was up so huge that it would be so hard to overcome that and he has so good for him. coming up, trading in

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>> and cnbc is the great economic equalizer because we provide that information so you can make the decisions that are right. >> for you. >> zealand. >> welcome back to fast money. it's been a rough ride for luxury retailers in the past year. lvmh, burberry and caring among the biggest decliners all down double digits. but some analysts are betting the group can make a big comeback in 2025. cnbc's wealth editor robert frank, aka mr. patterson, joins us here on set with more. robert, it's always great to have you here. >> good. good to see you, mel. a lot of optimism right now in luxury. hsbc saying today this is the end of the downturn and the start of the upgrade cycle for luxury. and the american wealthy are the main drivers. luxury companies say u.s. sales soared right after the election, lvmh reporting this week a slight increase in revenue, that stock gaining some ground a little bit today after that big decline on tuesday, burberry and richemont both beating on sales and lifting the sector. jewelry right now is the shining the brightest right after the

election, there was a clear winner and i think it. >> brings clarity and. probably a. >> greater consumer. >> confidence. which we need. to you need that feel good. >> factor to. >> succeed in the luxury world. now, one concern is we've all been talking about is tariffs. although lvmh ceo is telling me u.s. consumers, because they're so wealthy and they travel, might just buy their bling. in europe. we have the opportunity to cater to clients that are basically across the world and travel across the world as well. so if they buy a piece in the us or they buy a piece in europe, it's the same for us. >> so one of the reasons europe is so strong right now, for lvmh and others, is that it's the americans that are traveling there and buying goods there. so that's lifting europe. so that's add that on to the us sales and you get the americans replacing the chinese as the big drivers of luxury. now the question is how long can that continue. and will china ever come back even close to where it was before.

that's what's going to be the decider. on whether these stocks can really gain ground from here. >> well, you're just talking about the reduction in the shanghai flagship location as being a terrible indicator of, of their forecast for china. >> yes, because i think of arnault is such a long term investor. and so, you know, we're in a tough spot now in china. >> but he has. >> that, you know, that. prime real. >> estate is. >> difficult to get. >> it is. >> and so to i don't know if they've kept the real estate but not built the built the store. but do you think though when you look at like a burberry, which is a difference in a turnaround. >> yeah. >> versus a richemont which just put up very, very good numbers. does that seem like more potential upside because there was so much doubt? >> if you. >> had told me a month ago that burberry would outshine lvmh on earnings, i would have been like, no way. but there were those expectations were so low for burberry and so high for lvmh. so i think there are a lot of questions about whether burberry's price point, which is very high, can be maintained. but lvmh, you know, there's a

lot of optimism, especially in watches and jewelry. mel, you mentioned in china, there's a lot of hope now, at least in china, that the chinese are buying homegrown brands more. and so the question, they're even making luxury watches, which people didn't expect. so that's a big threat to the swiss watch industry. and so the question is, even if spending comes back in china, will it go to local brands or these european brands? >> what are the names of some of the local? i'm just curious. >> i don't even know. but i've been told by the swiss watchmaker they're making very good rolex, not rolex rip offs. they don't look exact, but they're very high quality luxury watches and that's a threat. >> robert, great to see you. >> thank you guys. >> good to see you all. >> handsome person. >> awesome. >> good looking. too much better dressed than any of you guys. >> guys? >> not much. i mean, the bar is kind of low, but. >> whoa. >> you could put lvmh in your band and make it bland. >> i look, i might have to, because based upon last year, i need all the help i can get. i will say something as we talk about the impact of china on

luxury. you look at the charts and you lay out a chart of china or chinese equities over lvmh or burberry. they all look very similar, and i mean a 20 year chart. so the question is, is the demise of china something that's a little bit more of a headwind than cyclicality? >> all right. coming up the earnings keep rolling in. shares of visa on the move after reporting results. the details and numbers out of the quarter next. more fast money in two. >> on $100,000 margin loan. interactive brokers charges just 5.83%. do you know how much your broker charges? fidelity and schwab charge over one and a half times as much. e-trade is even higher. move your account to interactive brokers and save at least $5,200 or much more if you're trading big bucks. >> at tractor supply. we

understand it out here. no two days are the same. some days start early. others end a little late. some days you're taking things a step at a time. others, you're just stepping away from it all. some days you're caring for your property, others your family. either way, you're ready for whatever comes next at tractor supply. we'll help you make the most of life out here, no matter how you live it. tractor supply for life out here. >> in a world of uncertainty and disruption, how will your investments stay resilient? we've been navigating change for 125 years, always looking forward, anticipating risks and trusted to manage over $1 trillion in assets worldwide. solving for the needs of investors today and tomorrow. that's the power of nuveen. >> next. >> i believe apple is an amazing

company with amazing management. >> whatever goes wrong. >> will be fixed. >> i just. don't know when. >> it will be fixed. >> historically, you're better off sitting t craig here pays too much for business wireless. so he sublet half his real estate office... to a pet shop. there's a smarter way to save. comcast business mobile. you could save up to an incredible 70% on your wireless bill. so you don't have to compromise. powering smarter savings. powering possibilities. switch and save with comcast business internet and mobile.

find out how to pre-order and get the new samsung galaxy s25+ on us with a qualifying trade in. call, click or visit an xfinity store today. starts. >> that's my secret to better odor control everywhere. >> we've got a news alert on vertex, the fda approving its non-opioid treatment for moderate to severe acute pain. shares are currently just up 4/10 of a percent. we got another earnings alert here. visa reporting better than expected quarterly results. shares are higher after hours. cnbc banking reporter hugh son has got the latest. hey, hugh. >> that's right. melissa. visa reporting a beat on both the top and bottom lines today as global payments growth improved from the previous quarter. the company's total payments volumes jumped 9% in the period, compared to the 8% rate of the previous quarter. visa also issued new 2025 guidance, saying that both revenue and eps growth would be better than previously stated. eps for the year will rise by low teens percentage rate compared to previous guidance of a low double digit increase, as we've seen from amex and mastercard, results at credit card giant show signs of

a still healthy consumer, with spending volumes picking up at the end of last year. that trend has continued so far this month, with visa cfo chris suh saying that payments volumes were, quote, off to a strong start. back to you. >> all right hugh. thank you hugh. and of course, mastercard shares in today's session hitting a record high off a very strong quarter. cross-border volumes up 20%. >> just to robert's point, right? >> yeah, exactly. >> strong dollar. >> and find their purses in europe. there you go. up 20% cross-border. what do you make of the payment space? >> i think bet against these companies at your peril. i think they're going higher. i think the multiples that they look, there's cyclicality here, but your long term trend, again, pull up a 20 year chart on visa and you're going to be shocked at what's going on here. the multiple does matter. the cyclicality does matter. but secularly they're where they need to be. and i think that's their slogan. >> transaction processing. i mean, pull up a chart. tim's right. i mean, this is lower left, upper right. couple of pullbacks along the way. yeah. valuation gets stretched but they seem to grow into it every single year. you stay long. mastercard and visa.

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you know... i once played a secret agent. - oh... - oh i miss that one. i heard you were great. i was great. fixed. >> i just. >> don't. >> know when. >> it will be fixed. >> it's broken. you're better off sitting tight than trying to trade this one. >> mad money next cnbc. >> welcome back to fast money. let's take another check on shares of apple up by 2.8%. so giving up a little bit of its after hours gains conference call just wrapped up. deepwater gene munster is back. so gene what were the highlights. >> melissa three takeaways. first is the december quarter wasn't as bad as it looked because they shimmy down some of the inventory levels that had a negative impact on the results. and they basically moved those over into march. and so that's why you had that more favorable march guide. second is that the march guide does not include any new regions with apple

intelligence, which they said had a positive impact in the december quarter where it was available. and the third piece is that cook said that there were his comment was lots of devices sold during covid, and that is an opportunity to upgrade in the quarters ahead. so overall, my sense is it just wasn't nearly as bad as it looked. just a reminder that there's some fluidity between quarters, but the trend remains positive. >> gene. thank you. gene munste, deepwater. it is time for the final trade. let's go around the horn tim seymour. >> ups you don't need to go out and buy this one today. but if you think about a company that's really found a way to think about their margins and turn it around, this has been a two year downtrend that i think you start to nibble at. >> karen. >> yes. gap stores i like the turnaround. we're not going to see the results until early march. but along here i think it's a good value. >> michael kontopoulos of rba. >> economic growth is strong and we think it's going to continue to perform. it's going to continue to broaden. we like small and mid-cap stocks. >> thank you for joining us

tonight. great to have you here. >> and the break i learned that dark roast. >> this is revolutionary. >> it really. >> is important. >> this is the more you know kind of thing. it's actually. >> the weaker coffee than the blond roast. >> we learned that from michael. >> thank you michael. >> final trade agnico eagle mines. >> thank you. >> for watching fast money. see you back here tomorrow at five. mad money starts right now. >> my mission. >> is simple. >> to make you money. >> i'm here to level the playing field. >> for all investors. there's always. >> a bull market somewhere, and i promise. >> to help you find it. mad money starts now. hey. >> i'm cramer. >> welcome in buddy. >> well, mark, you make friends. i'm just trying to make you a little. money and we're going to do that. my job is not just to entertain them. >> to educate. >> it's going to teach you. call me one 807. >> four three cbc. >> tweet me at. >> jim cramer. be nice. when we value stocks in this environment. >> we tend to think. of how they'll. >> fare in a