over that whole cultural war thing. but i think the next company that should be worried is jaguar. have you guys seen the commercial. >> yeah, it's bad. [laughter] >> oh, yes. yes, yes, yes. yes and yes 'em. charles: i mean, what the hell is going on over there? who's in charge? >> i don't know. the capital game, hunger games? if who are these people? >> we got it on the air, and i'm not trying to diss anyone, but i just don't think jaguar when i see this commercial. >> this is the disconnect. like, the american consumer, to the point we've been talking about, there is a massive kiss connect between what the market thinks or the advertisers hi we are interested in and what we're actually interested in. charles: yeah. >> yeah. it's the reign of we, the people. did that last election not get it through their heads? charles: that was already in the pipeline. emily, kara or, thank you very much. who always gets it, liz claman. liz: that makes me want to buy a bmw. [laughter] charles: it make me want about to buy a box of crayons.

[laughter] liz: thank you, i gang, very much. okay, viewers or, you can kind of feel it in the air. we are 1 hour and 20 the minutes away from the earnings report that wall street and analysts around the world have signaled could make or break this bull market. that might be a little hyperbolic, but investors are feeling the gravity of situation. stocks are lower across the board as investors laser in on nvidia's earnings of after the bell. now p, ahead of the report let's hook at it, shares of the leading a.i. chip maker have steadily been bouncing around but always in the red here today, and we do have it at the moment down about 1.8%. get this, the options market is pricing in a nearly 9% move in either correction when the market opens after earnings tomorrow. depending on what we hear from the most valuable company in the world. that could translate to a $300 billion swing in nvidia's market value. the stock is pretty flat over the past 30 days, so that move could be a massive one.

we have our star the options trader scott baueren standing by to game -- bauer, to game what could happen not just to nvidia's stock, but in response to the broader market. it all a comes down to what nvidia's ceo has to say, and it's a can't-miss, fox business exclusive. he will say it here tomorrow, 3 p.m. eastern. jensen huang joins "the claman countdown" in a postearnings broadcast exclusive. so, yes, nvidia definitely stealing the spotlight and that's probably fine with target. the big box retailer is tanking 221 plus percent -- 211 --211 after -- 21 after posting it biggest earnings miss in two years and putting out a down beat holiday season forecast. it's dragging down shares of other retailers, dollar general, five below, you can see may i's, kohl's, even amazon. everybody is lore. so walmart, all day long it's kind of bucked the trend here.

not by a huge amount, just a fraction. at least it's in the green though. not only is it continuing to grab market share, it's growing a whole new class of higher-end customers. shares right now stand at $86.74. this week it has gained about 3% after the company hiked its outlook for the third consecutive quarter. how is walmart doing that when target, which is sort of its biggest rival here, is doing the opposite? walmart's chief financial officer john david rainey if is about to tell you when he joins me live in a fox business exclusive. but first, fear in the market starting to rear its head. if you look at the volatility index first month to date, we've got it down 23%. that the means complacency, right in this as the trump trade punched down any investor fears. but today it's up 8.33%. what is driving these new jitters, ask and what are they indicating about the markets?

freedom capital's chief global strategist jay woods is live from the floor of the new york stock exchange, and prosper if trading ceo scott bauer live at the cboe in chicago. what's got the vix suddenly so caffeinated today, scott? >> well, you know, liz, earlier today the vix was up almost 15 president. 15%. we are seeing a big spike and, you know what? maybe some of it is because of some geopolitical tensionses. but from talking to the traders in the vix pit, which is right next to me right here, in talking to some of the traders right behind in the s&p 500, they all have inine vid ya on their minds -- nvidia. if you look at the vix and the inversion in the vix, the spot if future, the spot price for vix is considerably hire than just next week's. i am hearing from traders there that that there's probably 1.5-2 points of premium in the vix right now because of nvidia. further, if you look at the

angst in the marketplace and the overall volatility, if you will, because of nvidia, s&ps are pricing in just over a 1% move for just tomorrow. just a 1-day move. and the qs, the qqqs, are pricing in just shy of a 2 percent move. this is all a reflective of nvidia. but what is really interesting to me, nvidia's option paper today, it is decidedly on the call side. so the general overall a market, kind of on their heels. lots of protection buying out there. but nvidia, call buying ahead. liz and let's just be clear to our viewers who don't necessarily play the options market, that's a bullish sign. correct, scott? >> that is absolutely correct. and it's, you know, about the a 22 to 1 ratio -- 2 22 2 22 -- 2

to 1 ratio. there is lot of optimism coming through in nvidia, but a lot of protection happening in the overall market. liz: all right. let's take it east to the new york stock exchange and jay woods. jay, what's the chatter on the floor about nvidia, about ukraine, about target shares, about everything that's going on? i mean, the trump trade, you basically have said there's a bit of a hangover are if that incredible runup since election day. we still have the major indices in the green by about 3-4% in the case of the russell 2000, but today, yep, a slight pullback here. what's that about? >> yeah, it is exactly that,s it's a hangover. we were having the best year in a presidential year that we've ever had. we were having one of the best years we've had to start since 1997. the vix was a little elevated. it was above 20 for the weeks leading up to the election, so now it's up to 17. there is a little fear. i think the russia-ukraine news caught us off guard yesterday. that's' still weighing on investors' minds if. but it is all about nvidia and

these earnings. it is the biggest weighted stock in the s&p 500. it's in the dow now. and in the semiconductors, you've got to watch semis. there's a divergence i have not seen ever. nvidia is trading so much above the smh index, it's at its greats disparity. so that divergence is kind of telling. will nvidia lift the rest of the semiconductors which are 15% off their highs from year, or will they have a blowout quarter? let's face it, heir going to blow out this number, they always do. jensen is crushing it in all metric. will it get the street to take it higher? we just hit a new high last week, can it continue? the last two novembers it didn't. last half of last year the stock was relatively flat. it took a little while to digest last year's 200% gains, this year, 190%. it may take a huge beat and raise. liz: the bar is incredibly high because they've been so successful in the past.

it's really lifted so much of the rest of the broader market, although today i would note that it and consumer discretionary are the two laggards in the s&p sectors. scott, on any other day what the fedhead, michelle bowman, said earlier today would have made much bigger news, would it not? she was the lone dissenter when the fed cut by half a percentage point or 50 basis points back in september. she was really worried. and today she came out and she said inflation progress has appeared to have stalled. that now has an indication that it's a bit wider when it comes to the fed funds futures that the fed might pause, might pause next month at its interest rate setting meeting. what do you think? >> what's unbelievable about this, liz, is you're right, that is, like, secondary, maybe even tertiary headlines today. and the market moves that are priced in are greater on the nvidia earnings than what's

priced in for the fed meeting next month in he's do. that is how important -- in december. that is how important this is. once we get past nvidia regardless of guidance or the move, yes, then we'll position back on the fed, focus back on -- focus back on the fed, focus back on inflation. but you're right, it has taken a backseat. this market is all about nvidia. two points or spots i would look at in nvidia if -- nvidia if there is a downside move, 132 is the the first move, 110 -- i don't expect it to get down there at all -- 1 so below that -- is 110 below that. microsoft, alphabet, meta, amazon, they are nvidia's biggest clients, they are sure to move with nvidia. liz: and right now the stock is at $144. i do want to just check smci which had a big runup the past couple of days, the big provider of data centers. they are the third largest customer of nvidia. right now it's down%, but

it's -- 9%, but it's just a giveback considering the company is still, the success week to date is still locking pretty darn healthy, up about a 38% after it hired a brand new accountant. bdo. jay, really quickly let's not leave palo alto 234erbg ifs out here. it's still earnings season for a lot of important bellwethers, and that's a big one in cybersecurity. >> well, yeah. cybersecurity's been the one spot in tech and software, the igv, that have done extremely well over the last but months. and what leads it? palo alto networks. they just made new highs ahead of this earnings. maybe price is leading, we shall see. that's one to watch. but t t going to get lost in all the chatter about nvidia. rightfully so, but cybersecurity stocks have been hot. and going forward, you know, regardless of the add manager, now the trump administration, this is a sector that is going to see a lot of money invested over the next 4-8 years. liz: okay. all right. so the wall street version of who shot j.r. is after the bell,

an hour and ten minutes away, nvidia -- [laughter] earnings for the third quarter. we're going to be all over it. as we said, we've got the exclusive interview with ceo jensen huang tomorrow during this hour. hope everybody watches. jay, scott, great to see you both. target badly missed the earnings target while walmart if hit the bull's eye as it wins over wealthy shoppers. in a fox business exclusive, we talk to walmart chief financial officer about the new frugal elite and what they were putting in their shopping carts. and later, qualcomm ceo cristiano amon is here on the chip mayber's goal to achieve an additional and, quite frankly, eye-popping $. >> 22 billion in revenue, and apple as a customer pretty much has nothing to do with it. "the claman countdown" is coming right want. -- right back. dow jones well off the lows of 194. so much more to come. ♪ ♪

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liz: target investors having buyer's remorse or, shares enduring their worst day in more than two years. the tock is plunging 21.25% after the company widely missed on both the top and bottom lines in its third quarter report. ceo brian cornell said target i saw increased pressure on it bottom line from a volatile operating environment and unique challenges including higher costs from the port strikes earlier this year. target also said it saw weakness in discretionary spending as sales slowed and were nearly flat during the previous quarter. the big box store flash slashed its full-year outlook as command slowed ahead of the holiday shopping season. walmart, largest retailer in the world with, said higher-end

consumer sales are surging as six-figure income households searching for lower prices continue to fill the aisles. the company said its fiscal third quarter results were driven in a a huge part by upper income customers who accounted for 75% of the company's gains. walmart shares hit a record high yesterday. right now they're up another quarter of a percent after the blockbuster report. joining me now in a fox business exclusive is chief financial officer john david rainey. john david, you know, this is quite an interesting trend. when we spoke last quarter, we talked about the affluent if shop orers who were walking into your stores. -- shoppers. now it looks like they're flooding hem. what do you interpret both about your business and the economy from that? >> well, liz, first of all, or it's good to be on the show again. we were really pleased with our results this quarter. we grew our top line 6%, and we were able to grow operating income 10%. but i think the real story of our business is what's happening

on the digital channels. we grew e-commerce 27%. and as you noted, a lot of the share gains came from these the more affluent households, the households that have more than $100,000 of income each year. and what's driving that is fundamentally our value proposition has changed. we've historically been known for low prices and value, but we're also being known for convenience. we continue to deliver and improve our ability to deliver same-day, next day, and customers are actually willing to pay for even expedited delivery. fully 30 of our orders that are from a store a customer's willing to the pay more for to have it delivered within one hour or three hours. and that resonates to all income groups, but particularly the more affluent households. liz: target mentioned that it was hit by the port strikes. were you? i mean, the divergence between your numbers and target's numbers is pretty stark. you both had to teal with the port strikes -- deal with the

port strikes, did you not? >> we did, and it was really interesting to get a glimpse into consumer behavior. i think in some ways a bit of a holdover from the pandemic insofar as with the looming port strikes. we actually saw increases in sales in many of our channels, particularly sam's club which is bigger or, bulkier items as well as walmart in the u.s. and consumers were preparing for that event where there might be a shortage of some of the items that they need the most. and what we do in cases like that is we tend to pull in a little bit of inventory, and we're doing that again with the prospect of the potential second strike in january. so we've been able to manage through that, and the team has executed really well. we're seeing the benefits right now in our current quarterly results of actually the having inventory in the right location, in the right amount and and being able to serve our customers with what they want. liz: yeah. that's what i think may have something to do with it. obviously, groceries and the food piece of your business is

very, very strong. i would like to know specifically about pricing, because if we costart to see more -- do start to see more tariffs which donald trump, the president-elect, of course,s has said he will slap on china and, basically, most imports coming from foreign countries, how to can you avoid or can you even avoid raising prices in that kind of atmosphere? >> well, let me start right now with where prices are overall. we tend to see9 that the basket of goods at wal-mart is about flat many terms of pricing year to over year. it's a little bit inflationary in food, it's deflationary in consumables and general merchandise. but we've actually lived in a tariff environment for the last seven years, so we're very familiar with this. i'll remind you though, liz, that two-thirds of the items that we sell are mail made, grown or assembled -- are actually made, grown or assembled in the united states. but tariffs are going to be inflationary, there's no

disputing that, and likely consumers are going to pay more for the items that they, that these tariffs are applied to. liz: can i push you on that? i know you're u.s.-centric, definitely your customers are, but really? i mean, you don't get a huge amount anymore incoming from china and from the rest of asia? >> we actually have a very diversified set of suppliers that include those from china and other countries in asia. so we're in no way immune to this. but you have to remember that our value proposition is everyday low prices. so we're going to work with our splicer as well as our own private brand assortment the continue to try to bring down prices for customers. we're not immune, and tariffs will be inflationary for customers: liz: how inflationary? if i'm so interested because today michelle bowman who, of course, is one of the dissenting fedheads who has felt from the federal reserve that maybe we

should back off from dropping interest rates again in december because, specifically she said she sees greater risk to price stability due to the fact that the inflation process of tamp thing it down appears -- tamping it down appears to have stalled. >> well, it's speculative the at this point, liz. we don't know the amount or even the types or categories that they would apply to whether it's a blanket tariff. so it's tough for me to speculate on this, but again, we're going to work to serve our customers and members with everyday low prices in the very best way that we can. liz: you know, the president-elect, obviously, has talked a lot about one of the top priorities being to lower the corporate tax rate. have you modeled for that? is that something that could really add to your bottom line? >> well, we think -- first of all, today we pay a corporate tax rate of about 25%. i think having lore taxes is obviously constructer -- lower constructive to growth, business growth.

just as important though is actually having some consistency and certainty. we're investing a lot in our supply chain automation. these are billions of dollars of investment that we expect to last for years. so when you're looking at an analysis like that, tax is a big piece of that. you need some consistency and certainty with the tax environment as you make those long-term investments. liz: i want the talk about another thing that may very well change with this new administration, and that's the mergers and acquisitions atmosphere. under president biden we've been looking at a very, very strict federal trade commission, and you at wal-mart have wanted to video, and the merger is under scrutiny by the ftc right now. so it's kind of been on pause. are you locking forward to the possibility that -- looking forward to to possibility that that could go through in a brand new administration? >> we think that this acquisition with vizio, this combination is a great benefit to our customers if: so we're looking forward to that, and

we're very hopeful that will happen in the near future so that we can provide other channels to serve our customers with what they want from us. liz: and that would being, like, a smart t where you could work in streaming and maybe sell walmart products through the television sets. we're so interested the see how you envision this merrier and how it can alter what's going on at wal-mart in the future. >> yeah, it's exactly what you said. imagine yet another channel to reach out to our customers and a way to serve them with things that they want. and and so we talk about the e-commerce if channel, but streaming media is a big part of that. and being able to control the software element 0 -- of that and connect with our customers in a way that's additive to what their experience is and connect that through purchases at wal-mart or one of our sam's clubs. liz: if you need any help, we're in the television business too, so you guys are getting in the tv business -- [laughter] john david, great to see you with. thank you very much. >> great to see you, liz.

liz: john david rainey. bitcoin, we've got to talk about that. it continues to do its best imitation of a heat-seeking missile since election day as it moves close loor and closer -- closer and closer to the $100,000 mark. major headlines at this hour that have the crypto verse riding bitcoin's coattails. we're going to get you the story. and all that a glitters isn't just bitcoin. costume jewelry was enough to outshine the allure of a career on wall street in high finance for two harvard mb ark students who decided to launch their own bling business, bobble bar. amy and daniela built the affordable costume jewelry site from just a few products to a global powerhouse with brand new partners that stretch far and wide from disney to the nfl and much more. today they're in hundreds of retail stores in 25 the countries. hear how they pulled it off on the brand new episode of my everyone talks to liz podcast. they ditched harvard?

i mean, you know, the jobs that come with a harvard mba and said let's go into the jewelry business. listen on apple, google, spotify, iheart radio, wherever you get your podcast casts. dow is now in the green, up 22 points. we're watching nvidia which, of course, is a brand new dow component. stay tuned. ♪ ♪ ss about reaching a magic number... and more about discovering magic. rich is being able to keep your loved ones close. and also send them away. rich is living life your way. and having someone who can help you get there. the key to being rich is knowing what counts.

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powering possibilities. comcast business. power's out. liz: breaking news, former billionaire investor bill wang sentenced to 18 years in prison

over the collapse of around keg goes capital management, sentenced in manhattan after being convicted on criminal charges including wire fraud, securities fraud and market manipulation. wang was this guy. he set up his company as a family office in 2013, the year after his former hedge fund, tiger asia management, pleaded guilty to wire fraud in an insider trading case. prosecutors accused wang of lying to banks about a his portfolio so he could borrow money aggressively and make concentrated bets on media and technology stocks, namely, viacom-cbs. his downfall to curred when wang was unable to meet margin calls and more than $1000 billion of market -- $100 billion of market value. that the destabilized debt suisse later absorbed by ubs. fox business alert, how close is bitcoin to its holy

grail of $100,000? right now it's at $94,349 after hitting a new high today of just under $95,000. that was sparked when blackrock's spot bitcoin eff recorded unheard of volume in its first day of options trading. fox business confirming that president-elect trump's transition team is looking into creating the first ever white house crypto post and is vetting candidates to serve as a crypto czar. bitcoin-related stocks jumping accordingly. micro strategy, you've got to looked at that, up 3.5%. it -- 13.5%. we've got ishares ibit up 2%, and if then you see marathon popping as well. look at robinhood, up 2.25%. it's getting enough of a bump to push it to a 52-week high after bernstein raised its price target to $5 a 11 from -- 51

from 30. the firm says the retail trading platform is set to benefit from a new potentially pro-crypto securities and exchange commission. not a pretty picture for cosmetics maker e.l.f. beauty after muddy waters, a short seller company, said it is shorting the success which is now down about 8%. the short seller says it believes e. l.f. has materially overstated revenue over the past three quarters to the tune of $135-190 million. as you see, the stock is getting dinged on that news, and we're waiting for more detail on it. we'll get it to you as soon as possible. and williams-sonoma hitting a record high at this hour. nice move of $173.75. that's where it stands the at the molt, a gape of 26.6% -- at the moment -- a gape of 26.6% ors after the home goods retailer boosted its outlook for fiscal year operating margins.

remember, williams-sonoma owns pottery barn and west elm, so it's got a whole spectrum of different price points. it has seen its stock rise 73 year to date. let's take a hard turn here. the u.s. embassy in kyiv temporarily shutting its doors today citing a potential significant air attack. as missiles fly to and from russia, we're going to get a live report for you from ukraine. plus, we will hear from president volodymyr zelenskyy after his country marks a thousand days of war against its invader, russia. and with about 47 minutes, 57 minutes before wall street and the investor world gets whats the waiting for, nvidia's earnings release. we'll get you an up to the minute check on the stock, and don't forget, tube in tomorrow or set your dvr for my exclusive interview with nvidia founder and ceo jensen huang. you don't want to miss if it. it's tomorrow, 3 p.m. eastern on

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liz: liz: fox business alert, the trump transition team has revealed it nato ambassador selection today. president-elect trump tap thing montana knew whitaker for the key -- matthew whitaker for the key post. whitaker is set to play a big part in the united states' involvement in the russia-ukraine war. the u.s. ramping up its involvement in the now-1,000-day-old conflict. lloyd austin saying the biden administration will now allow ukraine to use american-made land mines against russian forces. and in another new development, the u.s. embassy in kyiv closed today as officials warn russia might launch, quote, a significant air attack one day after ukraine launched u.s.-made missiles into russia. the state department now says the embassy will reopen tomorrow, but we've got chief

foreign correspondent trey yingst right there on the ground. he spoke with ukrainian president zelenskyy, he joins us live from kyiv with more on that interview. trey. >> reporter: yeah, liz,good afternoon. there were sirens sounding today across the ukrainian capital of kyiv. the u.s. embassy closing its doors temporarily and telling civilians to stay close to shelters. this as the ukrainians fear more russian attacks are on the way. and it does follow authorization by the biden administration if allowing limited ukrainian strikes deep into russian territory. now, we were with ukrainian president volodymyr zelenskyy on the eastern front lines just hours before he started these strikes. here's what he had to say about u.s. restrictions on such activity. >> yes, i'm in that, you will see it. >> reporter: are there certain tarts the americans are encouraging you not to hit? >> yeah -- [speaking in native tongue] >> no, no.

yeah. really americans would not -- it was some months ago, they were not happy because our targeting some, uni, energy targets, yes? on the territory of russia. but i think that it's not about just the situation because with you saw russia attack yesterday, for example, 2020 202000 -- 200, one of of the most difficult,s i mean, many ukraine. is so they understand only when you can answer. we want peace, but you see how putin wants peace. 1202 rockets, missiles -- 120 rockets, missiles including ballistic and 95 drones, iranian drones. that's why we need to answer. that's why long distance is very

important but what can i say? we didn't begin with it. we didn't begin. if. >> reporter: zelenskyy making a point here that the russians continue to target ukraine's energy infrastructure, and it comes as i spoke earlier today with mayor accomplish coe here in kyiv, he is urging ukrainians the stay close to shelters. they do not believe russia has stopped its attacks. liz? liz: incredible exclusive. thank you very much, trey yingst, right there at the front lines. russia is viciously trying to cling to control of its occupied territories in ukraine. much of ukraine's eastern border en over by russia, a region known for its vast and rich cropland. when its war with russia erupted back in 2022, ukraine accounted for 10% of the world's cheat market, is 13% of the barley market and 15% of the corn market. if the war drags on, there could be grain shortages in places that the depend on those critical exports.

but one small chicago business is not sweating the potential supply chain disruption. they source from the midwest. the company packages healthy meals in jars and serves them, you may have seen these vending machines, out of their own vending machines in airports and train stations. i saw one in the hospital. let's get to fox business' kelly saberi who knowns us with more on the company's unique take on, i guess you could call it fast food, kelly. >> reporter: yeah. liz, vending is trending all around the country. you'll see different vending machines selling anything from cam haven and -- champagne and caviar to to baguettes. this is solving a dun none drum, how with -- conundrum, how are we going the feed our families affordable food that's also nutritious? if you've seen it in the hospital, it's also at public transportation stops and all around the country people are able to get healthy food for the

same price as they'll be able to get fast food. one market researcher predicts that fresh food vending will reach nearly $8 billion as an industry by 2029, so move over, mcdonald's. farmer's fridge wants to be the new value meal. pricing depends on what market you live in. so, for example, we're here in chicago at their hq where a large salad is at most $10.9. the idea struck founder luke saunders when he was traveling quite a bit for work, and he struggled the find healthy food on the road. is so his goal now, he tells me, is to get farmer's fridge to the moon and make it as a accessible as a candy bar. of the vending machine, again, can be found all over at different places, even stadiums, all stocked up with up to 25 the different products like salads, wraps and snacks and other treats. one of them being chocolate chi a ya seed pudding. -- chia seed.

there is a patent for the process, what specific items and quantities should go into what machines a around the country, and any unsold food is donated to people in need. >> one of the benefits that we've had over the last few years is we're scaling up so quickly that we're leveraging those economies of scale to get lower prices on our produce, on our packaging. and so we're able to actually share that with consumer, and we haven't really within hit with the same dynamics as far as inflation goes. >> reporter: and when you're all done with your food, you can recycle it here. so from start to finish they figured everything out to make this a process that's not only convenient for you, but convenient for the environment as well. you know, helpful to the environment. liz, have you tried it? i'm curious to know your thoughts. liz: i saw it in a hospital. i was visiting somebody in the hospital, and i was so hungry. my one concern, kelly, was how

fresh is it. you can't tell from looking through the glass of the vending machine. of do you have any insight on that? >> reporter: yeah. it's produced daily. and i think's a thought that people wonder when they pass it and they don't know about it. but you're hearing from the founder himself, this is a 24/7 process. they're creating all of these products every single day and shipping it out to the each of the vending machines around the country. liz: okay. so no more rice krispie treat for liz. we'll take the chia. i've got my eye on the blueberry chia which is right there. thank you very much. small business report from kelly saberi. qualcomm planning the beat its competitors at their own game. ceo cristiano amon joins us next live to tell us about the chipmaker's new revenue goals and its strategy to take down intel and amd. how's he going to do that in and we've got to look at the stock because investors are not quite

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liz: folks, eight minutes from the closing bell. i want to show you the dow, up 150 points, now in the green. the dow is, basically, from peak to trough, done a 3900-point -- 390 to- point swing. the s&p for a second just turned positive moments ago. right now it's down about 2 points, nasdaq lower by 411 but well off the lows of a lost of 263 points. russell down 3. we are about, what would you call it, 28 minutes away from inenvied ya earnings. let's -- nvidia. let's call it the earnings report heard round the world. the a. i'm sorry chip leader is -- a.i. chip leader is expected the nearly double earnings per share and revenue if year-over-year. we are going to to break it down tomorrow with nvidia's ceo and chairman jensen huang. but another chip maker is dominating the headlines right now. let's look at qualcomm's stock. s down at the moment by about

6.5% after the company held its annual investor day, this was yesterday. the team detailed an aggressive expansion strategy to drive combined revenues to $222 billion -- 23222 billion by -- 22 by 2029 highlighted by continued development in the company's auto division which would then account for $8 billion of that growth. joining us now is president and ceo cristiano amon. very ambitious targets here. impressivive. i don't know why, but the market seems to either not believe it or selling a bit on the news. what are they not seeing that you are? >> yeah, i'll be honest, liz -- by the way, great talking to you. i was a bit, you know, surprised at well -- as a well with all of of the noise that is the out there. and i think what we did on investor day, remember, back in 20221 i think i became ceo in june, we had a november if investor day. we said this is the new qualcomm plan. we're going to diversify if all

those markets. we love mobile, mobile's great, but it doesn't grow. and we're going to, hope any, change the multiples of the company by going to all of those markets. we outlined automotive, pc, virtual reality, augmented reality and industrial networking, and we've been executing to it. so at the investor day, it was to basically show how much we had executed today and show how that is going to grow in the next five years. and especially as we had predicted, a apple comes off the model or is expected to come off the model, that's our planning assumption, we more than replaced that revenue with all of the growth that we have in those oh markets. -- other markets. and i don't know why there's so much noise, because the way we see it, the way we see it we have great business right now in the short term. if you look at what happened in the last earnings call, we did better than the market. we're growing in all business, including handsets.

and we expect the company to continue to grow through this period as we go into the long term. for some reason i think there's some noise that because qualcomm provided long-term targets, it was trying to signal there's going to be any problem in the short term, and we don't see it that way. we have been doing what we said we're going to do, we're going to grow and diversify the company and show a plan where we get now 50% of the revenues at the end of the decade not coming if from mobile. and when you think about the targets we outline, they're incredibly reasonable. like, in pc today, liz, we have the best platform. in a 35 billion sam, we're saying we're going to get 4 billion by the end of 2029. that's very reasonable. in industrial, 50 billion. we already have a significant business on that today.

we're going -- because of a.i. and if then having 2 2 the billion on, and r. 2 billion on x or r. so i think the company is on its way to get 22 billion of no mobile revenues in the next five years. we'll continue to execute, and it doesn't mean that mobile, there's a problem with it. yes, we're going to replace apple with growth on those new industries and grow on android. and we forecasted the android damn is -- tam is growing, but we're doing better than that historically. just the past three years we grew 8%. so we feel good about the company, and we'll continue to do what we said we're going to do. liz: listen, who knows why the market does what it does. if the past year's been looking really good. you know what jumped out at me, yes, you and i, 2022, believe, in january you talked about we are going big in automotive.

but it's your pc, basically you're throwing down this gauntlet regarding pc revenues that you say in five years will equal about $4 billion. you know, it's the old intel inside and now you're saying it's going to be qualcomm inside? how are you going to do that? >> it's going to be snap dragon inside. look, here's some of the facts that will help you think about this. we have today the best platform. snap women dragon, and series is the fastest laptop processer, faster than the apple m series, faster than intel, faster than amd. when they reacted with their competitive response like intel accelerated lunar link using tsmc 3 millimeter, we're 4 millimeter, still outperforms. so we have a good product. the second data point, we launched this in the may. we had 20 the designs -- 20 the

designs. we are now at 58 designs. so one way or the other the dell, hp, lenovo, acer, all the pcoms are designing and after they launched the platform, they continue to design more. we're 58 designs heading to 100 in 2024. 20226. so i think we feel good about the opportunity. and, like i seder, 4 billion -- said, 4 billion in a 35 billion sam is a very reasonable number if you look where we're doing right now. liz: the election is now behind us. we know that the a possibly if more friendly m&a president in donald trump will be in the oval office. does that make it easier for you to make big acquisitions? and if i'm thinking about intel. you know, you mentioned or at least the world mentioned, a little bit of chatter, that there could be that possibility. >> look, so let me start by saying one of things we outlined

on investor day and i think we're very clear about it, for this plan that we outlined, the next five years, $22 billion of non-handset revenues many growth markets -- in growth marks, we don't need any acquisition other than any of the small acquisitions we make. you should think about qualcomm is incredibly focused on executing on that plan, and we have what we need to make it we are coming up against the closing bell. i know you know how important that is. we are watching you and your aggressive targets. we are 20 minutes away from an exclusive interview with the ceo tomorrow. ♪ larry: hello, folks.