dan greenhouse will be with all us, with dan ives.d also taking stock, josh and mike, 6:00 eastern tonight. don't miss that. and let's do "final trades." carrie firestone? >> i'm going to give you a algn technology. they make braces, they're building a base. people are starting to spend money on goods, and definitely braces are good. >> mr. freeze, ie weiss? >> dr. freeze to you. the worse things get in china, the more likely they come with a big ba zooka. i think that's what is going to happen. history will repeat itself. so baba. >> brian? >> raymond james, one of the last standing regional brokerage firms. a great place for a lot of the brokers to go to. down 10% year-to-date. >> good to see you. what you got? >> didn't pull back in august, energy. ieo at a 52-week high. >> good stuff. "the exchange" is now. ♪ ♪ >>> thank you, scott. hi, and welcome to "the exchange." i'm kelly evans. and here is what's ahead this hour. just as important as the jump in bond yields this week is the question of why this is happening. for good reasons

we're going to hear from star analyst dan ives in just a bit. it takes us to our talk of the tape where the stocks are back in an uptrend. even as those early month losses continue to evaporate, let's ask dan greenhouse chief strategist with me here at post 9, it's nice to see you again. >> thank you, sir. >> what a difference a couple of weeks makes. middle of the month, how deep is this correction going to be. at the low, we're down 5.5%. here we are, we're only down 1.5%. what's happened? >> you teased at the outset that rates is a big part of this. within the context that rates have gone up and stocks have gone up alongside it, in the last couple of days, the pullback in longer term rates, 4.25 down closer to 4 is probably the main input right now. you see the best performing sectors over that time are -- is both tech and com services. it's tesla. it's the semiconductors more specifically. i think it's hard to argue otherwise that rates cincinnati big part of this. >> are we back where we were before where, you know, lower rates and then tech

i spoke to tech analyst dan ives and he explained why us china tensions have not dented consumer sentiment. i think if you look at the share gains, we estimate about 300 bits of share gains in china from apple, and that's really been the hearts and lungs of the growth story for apple, and i think that is something that we see across big tech earnings, is a lot of fear going into big tech earnings. it's been a lot better than expected. that's a big reason that we have seen that green in the market, in terms of nasdaq. but in terms of apple's revenues, though, from the iphones, mac and ipads, basically all their major products, they were down in this most recent earnings. should that be concerning investors? in my opinion, it is all really about iphones, it is all about the iphone 15. that is to leave the focus going into this next six to nine months, and we estimate when you represent and , upgraded in four years, and that is the key to how the apple growth story plays out stop , plays out. interestingly, the other servers went up also what are the other services? overall services continue

hi. >> morgan, what did dan ives say, this is amazon's time to shine.a chart of apple versus amazon over the last few years if we can pull that back up you can see amazon has been a major under performer in terms of the other mega cap and in apple but the growth has come back, investors happy there was double digit top line growth of 11% this quarter after it had spent so heavily over the last few years and that hurt its profitability. here you have it apple up 70% over the last few years. sorry this is year to date amazon has outperformed year to date over the longer term an under performer because they have been spending so much to rebuild and expand its logistics network now it's reaping the rewards better margins in terms of the core business. have a listen to what andy jassy talked about, about efficiencies. >> we still see several ways in which we can be more efficient in the structure and we believe we'll improve productivity further. we've also reevaluated virtually every part of our fulfillment network this past year and see additional structur

joining us is dan ives, a senior analyst who has performed rating and $52 price target on uber. the comeback kid, why do you say that? dan: go back 18 months, it was against the law and i look at growth, look at profitability and cash flow, especially as its little brother lift is at the kids table -- lyft is at the kids table. i think this is a knee-jerk reaction where buyers will cause the stock to continue to move higher. in the fourth quarter, rocky balboa come back. ed: the gross bookings forecast for the current period was slightly ahead of expectations. there does seem to be concerned longer-term with uber. why don't you share that concern? dan: [indiscernible] strategically if you look at rides, mobility, you look at what is happening ultimately on the food delivery business, i think numbers continue to be conservative. i think the key here is the street does not get ahead of itself. they are not going to can you to raise guidance maybe as much as investors thought which is why you saw a knee-jerk reaction but i think that is again for them, under promise and over deliver

you heard what dan ives said about this last week. dan ives in my opinion one of the best analysts that we have in our space is in the topic 1% in the ratings over the rings and about 12% revenue growth it could be a good quarter. liz: allen, mentally and actually what are you belonging to when you see a dip. >> i let the markets tell me they are saying the end of 2024 short-term interest rates will be done before% that the present half lower than where we are right now if that occurs the dollar will not strengthen if the dollar weakens where will that put us resources i love u.s. steel and a look at the bottom pattern that we see right here an oldie but a goodie if you remember in the dow alcoa has a great bottom base, 60% off last year's high. liz: aluminum company of america, thank you very much our traders with decades of experience. you want to listen to these guys they are in it every single minute. >> presidential hopefuls have two weeks left to qualify for the first primary debate which is set for august 23 on fox news. inters

senior equity analyst dan ives told us he's impressed by nvidia's performance. let's talk now to russ mould, investment director at aj bell talk to me about how important this is, we know that al is a new buzzword, but there is a company cashing in on al. the buzzword, but there is a company cashing in on al.— buzzword, but there is a company cashing in on al. the first way this is... cashing in on al. the first way this ism nvidia _ cashing in on al. the first way this is... nvidia is — cashing in on al. the first way this is... nvidia is very _ cashing in on al. the first way this is... nvidia is very good _ cashing in on al. the first way thisl is... nvidia is very good at machine learning, it has noise in the financial times about middle eastern and chinese bulk buying these products. the chinese, in case there are sanctions against them, there is are sanctions against them, there is a huge gamble on there. nvidia is capitalising. we are with al where we work with the internet 25 years ago, when we didn't know who were going to be the winners and losers. if

that is what star analyst dan ives is calling palo alto's quarterly release. he'll join us after the break over what he's expecting and maybe what he's fearing from this oddly timed release, i think we can call it. we're live from the new york stock exchange. you're watching "closing bell" on cnbc. you can't buy great conversations or moments that matter, but you can invest in them. at t. rowe price our strategic investing approach can help you build the future you imagine. t. rowe price, invest with confidence. >>> the palo alto networks slightly higher today ahead of a highly unusual friday afternoon earnings release. the stock has been in a free fall this month as part of a broader pullback. dan ives has an outperform rating on that stock and joins us now with more on what to expect. good to see you. you think part of this bulpullb was due to the announcement they made that this was going to happen in the first place? >> 70 to 80% of it is because of this friday night after the market in the summer earnings call. i think it's a debacle of epic proportions t

following a bullish wall from wedbush's dan ives. he estimates $20 million worth by 2030 and make up 6% of the ev maker's total revenues. he joins me now. it's good to he sue. why did you feel compelled to write this story today? >> yeah. i was really doing the modeling from everything we have done the last four to five weeks. we talked about it when it came out for gm, others, the three wintry area codes in tesla, now trying to model it out. i think for investors it's helpful. we think conservatively 10 to 20 billion per year is on the latter part by the end. deck ailed. i think it's significant. this is the next stage of modernization for the tesla system. >> how do you get to those numbers? >> that's really going on our -- and we have a whole model planned out. the percent of overall evs that are going to be used in the charging stations, what they are going to be charging per kilowatt hour, and then the important things is that -- most of the bears say today people charge at home or their office. it's also looking at now down the

but i was listening to my good friend dan ives on scott's show and said, let me roll the dice. take a flier, buy some stock. didn't lie a lot. bought enough to make it worth my while for a 15-minute turnaround. bought at 210, sold at 228 1/2. it sold as high as 255 recently. sold down to 200. everyone was worried about the friday call. everyone was worried about their competitors in the space having week earnings. so there's so much that was already taken out or discounted in the name that really they had the disappoint dramatically for it to be worth $50 in the sock. i knew there was a shot this was going to be like a beach bell held under water and you could get that pop after hours. eps came in. i had revenues in line. for me that was the makings of a pop above. and there are so many times you see everyone on the wrong side of the boat or the same side of the boat and i wanted to take profits in this. there's a good chance this thing fades down lower. not going to look a gift horse in the mouth, take my profits. >> steve went through the action. bertha gave us results. bonaw

tom: joining us is dan ives in amsterdam who joins us by phone. in amsterdam like it sales in new york and chicago and l.a.? dan: they do. apple has always had a presence not just in amsterdam but across europe. i focus on iphones, services, china, gross margin. that was all better-than-expected. tom: they want to go after europe, they want to go after microsoft. let's say there anti-technology. that is the political elites. are the people of amsterdam, berlin, are they anti-apple or anti-google or anti-technology? dan: they are not anti-apple. they are pro-apple. i think investors are pro-apple. when it comes to the eu, that is another situation. it comes down to fines for big tech companies like apple and google. at this point that is like drinking a cup of coffee. jonathan: over the weekend someone at barron's said something like iphone zero growth. we have had three quarters of that. the stocks trading at 30 times earnings and up 40% year to date. what is the argument that this is a growth stock? dan: first you have fx headwind. from a currenc

i spoke to tech analyst dan ives and he explained why us china tensions have not dented consumer sentimentf share gains in china from apple, and that's really been the hearts and lungs of the growth story for apple, and i think that is something that we see across big tech earnings, is a lot of fear going into big tech earnings. it's been a lot better than expected. that's a big reason that we have seen that green in the market, in terms of nasdaq. but in terms of apple's revenues, though, from the iphones, mac and ipads, basically all their major products, they were down in this most recent earnings. should that be concerning investors? in my opinion, it is all really about iphones, it is all about the iphone 15. that is to leave the focus going into this next six to nine months, and we estimate when you represent and , upgraded in four years, and that is the key to how the apple growth story plays out stop , plays out.

dan ives over it wedbush, tripping on the phone to talk to us about this.o catch up with you. are these just rumors you are starting over at wedbush or do you have a reason to believe this as it is up for sale and apple would be an interested buyer? dan: it is a matter of when, not if, in our opinion. apple, what they're looking at for sports content, it is the perfect marriage. the strategic view is that it was even clear that espn could be on the block and apple is the natural fit for live sports content. that is the golden goose and it could be a strategic partnership. we believe this is the start of what could be a very strong partnership that him between apple and disney. jonathan: the next question is price. what would the price be? dan: apple has not done big m&a, $60 billion would be the initial price tag. that generates another $150 billion, that is actually affordable. it is really about the asset. mls has been the eye-opener for apple. pack 12, they tried to do that deal and it fell apart. i really truly believe cupertino realizes this is the win

tom: bloomberg surveillance, dan ives just walked through the room.we will get to that in a moment. we advanced toward the 60 day in a row. futures at bay, you see that withthe vix. 31 in october. good morning, a giant of technical analysis, good morning dr., giant of yale and years passed. we are going to go higher from october, they said. the vix was 31 entered is now 13. -- was 31 and is now 13. the max verstappen of technology, mr. ives. kailey: salesforce up 6.5 percent, trading at the moment, revenue profit forecast topped estimates. some progress to cut costs and cooling concerns around a sale slowdown. that is getting a nice reward. dollar general getting hammered in premarket trading, down 17% after cutting its outlook again. they say earnings will tumble as much is 34% on a per share basis during the current fiscal year. brutal for that low cost -- taylor swift coming to the movies, the eras tour in north america coming to amc. we'll play it thursdays, fridays, saturdays and sundays. tom: off of bardi and oppenheimer, oppenheimer doing 700 m

to report on frizz day night, and fortinet was upgraded today, and wedbush pulled palo alto, and dan ivesn's been on a couple times yet -- >> today >> dan has -- dan fills in for me on friday night >> does he >> amazing killer he wears that yellow blazer. kind of like what he used to wear on "wide world of sports. >> two thirds of the world is covered by water and the rest is covered by dan ives. >> palo alto will be down. my travel trust, we're debating buying it, but i feel like let the fortinet effect sink in and see what happens >> of course, the ad market, and we will get disney on wednesday. paramount tonight. >> i think disney's going to be terrible >> he already told them. >> i know, but i think the -- i think the forecast is going to be bad i think it's just bad. my trust owns it you're supposed to say, why? >> i've asked you that already >> i've got a long-term view i'm like one of those people who come on tv >> you're going to need a long-term view, and iger says you're going to need a long-term view, but he did everything he could, i think, to say how difficult things are >> t

stuart: dan ives said it best her over the last 25 years, value driven investors that are bearish onsed every technological advancement, stock price movement thereafter over the same timeframe so what you want to do is to purchase high and sell higher. stuart: that's a good one, well done indeed. purchase high and sell higher. i like this. 9:30 eastern time, the market is now open. we expect solid gain for the nasdaq because of the sales force which is a dow stock and really going well this morning. look at the top left-hand corner of your screen, that is salesforce, they are up $13, that 6%, adam johnson rubbing his hands because he knows that. the dow is up one hundred 35 points, close to 0. 40%. how about the s&p 500, i know it's open higher, not much, 6.15%, the nasdaq composite may be dead flat to slightly higher up one. 7%. %. let's look at big tech, meta up. microsoft up. amazon, apple all up, apple at one hundred 87 as of right now. as we told you there is a big big pop in the salesforce this morning, it is up 6% now. what's the story? >> revenue rose double digits, they rais

i asked tech analyst dan ives why us—china tensions have not dented consumer sentiment.n that we have seen that green in the market, in terms of nasdaq. but in terms of apple's revenues, though, from the iphones, mac and ipads, basically all their major products, they were down in this most recent earnings. should that be concerning investors? in my opinion, it is all really about iphones, it is all about the iphone 15. that is to leave the focus going into this next six to nine months.

dan ives put out a note -- >> do i have to say what i said before again >> you may i don't remember what you said before let me finish. >> pointed about herds and analysts and following the crowd. >> you might as well just say it now. you already led us there >> okay. what analyst is going to come out and put a 160 price target on apple that's career threatening. what they do and why they herd, safety in numbers. look, what stephanie is saying is absolutely right. i think i'm paraphrasing saying it's a 33 times multiple for a stock the analyst community sees long-term earnings growth of 9.9% for any value oriented investor you look at that that doesn't mean sell all your apple but if you own apple you should not expect the 30% per annum returns in the share price that you've seen over the last five years it's not likely to happen without that multiple expanding from 33 to 40 or 45. could it happen? of course it could happen. it's not likely to happen. apple gives you 5% to 10% returns for the next few years on an annualized basis it's fine. it has technicals supporting it. from a fundame

what's dan ives saying?auren: he still thinking when we flip the board that nvidia going to $4 490 a share, he's a bull. he says the ai cycle isn't a hype and spending on ai will hit $800 billion in the next decade. $800 billion. stuart: he's still a bull? lauren: yeah, but morning star is saying the opportunistic schism they're not saying bubble but there's overconfidence in the market right now. which one is it? nvidia stock down about 2% today. stuart: yes, it was straight up. came back down to low 400s. down a bit more today and he thinks going to 490? lauren: 490 and right now it's at 411. yeah so it's down by almost 3% today. stuart: what do we have on vf corporation? lauren: the chair of the board sold shares of $19 each and sign of stock up 4%. stuart: thank you, lauren. now this, it'll take trillions of dollars for the airlines to clean up their carbon footprint. guess who's going to be stuck footing the bill? yes, of course, you, the passengers. we'll tell you all about it. a congressional candidat

let's bring in dan ives, wedbush securities analyst has an outperform at 490.gressive as compared to some on the street. >> i think it's just starting. we're going to hear from jensen and nvidia, about the demand story that i believe is right now skyrocketing and if you look at tech across the board, this is going to be guidance heard around the world because the godfather of a.i. and in terms of what we're seeing, that is the best barometer that we believe is really just starting what we believe is a new it tech bull market yunds way. >> what's kept you from goosing your target the way others have, 800, 720? >> it's showing the use cases in 24 and 25. if you look at 2025 and 2026, you're talking about revenues that could double over the next two years. the important thing for the market, it's not just nvidia but for microsoft and for google and for some of the pure plays, salesforce, palantir and others. this is starting what i view as probably the biggest trend tech theme we've seen in 30 years. >> there's a lot of hype going into wednesday's print. what if n

dan ives, by the way, who is as bullish as they can, on this stock specifically disaster timing moveo the point on what are -- [ overlapping speakers ] >> when are they going to deliver? >> i'm kind of panicking >> let's do "final trades. kevin simpson, good having you here in the house. >> thank you apple. it's a good stock when it's pulling back and i'll take it. >> 3m. there's more visibility on their liabilities, trading at ten times earnings, i think you can buy this stock again >> uber, very quietly down five points in august don't play yourself. >> the stock has been one of the best, that's for certain thank you for that the dow still green. the s&p 500 is still green we'll see if the nasdaq gets there. "the exchange" is now. ♪ ♪>>> scott, my friend, thank you very much. in for kelly evans, i'm tyler mat mathisen a tail of two retailers, target versus walmart what's driving the divide and which one will likely come out on top in this big boxing match over consumer spending we' we will debate >>> and new clothes in this economy? we'll ask about the demand for thrifting, and wha

dan ives warns it's a pr disaster. but our analyst calls it a super fun summer friday.sees 30% upside from here. he joins us to make his case. >>> one big name investors own, our guest is not following this, and says you shouldn't either. a special three bails and a buy is coming your way. but first, let's start with the markets. we kind of have a turn around. >> it's been a momentum shift. it hasn't been dramatic, but we are maybe near the highs of the session. so that point, i want to give you an ideawhere the range is. the dow is up 23 points, just about flat on the session. it may not seem like a lot. the s&p 500 down six points or 0.2 of 1% at 4363. but here is the thing. at the lows of the session, we were down 35 points. we were up two at the highs. so we're a little bit more towards that upper end of the trading range so far today. trying at least to recover a little bit from the steeper losses we saw yesterday in the s&p and nasdaq. the nasdaq composite speaking of 13,262, down 53 points or one half of 1%. that's the current state of play. one place to keep a c

every dollar that comes at the door as revenue you're paying 25 times, you hear from people like dan ivesr real, the artificial intelligence is a 1995 internet moment, 2007 iphone moment, you have a censure saying to get a higher 40000 employees in addition to 40000 that the early have for artificial intelligence, for the market as a whole for the specific company in the latest and greatest trend there could not be more significant for nvidia. what i'm personally hoping for is very good earnings but the market to be upset with it so i could buy more of the stock on the dip. cheryl: that's how you do it by low, sell high, it's good to be a big report this week, ryan belanger, thank you so much for being here, mike, you're going to stay with us all morning long. we have a lot more coming up with the program we are watching hilary, the major storm has been downgraded as it makes landfall across the california coast. will have the latest on the flooding and the destruction that we are seeing in the golden state, plus president biden is finally heading out west to maui today he is finally goin

dan ives has a new note on tesla. he'll be with me. mark okata as well. got the markets cornered at 3:00 and i hope to see all of you then. let's do final trades. karen. >> autodesk. the stock has been very weak over the past year and a half as construction and interest rates obviously hurt. they lead in the design software for construction and also building but they reported a decent quarter, they took the guidance up for the next fiscal year, and we think that there's a long runway now for autodesk which has really been a poor performer but is starting to pick up a bit. >> thank you, robert. >> conoco phillips. in a golden cross. 50-day above the 200-day. looks like that's going to be a good sign. it's one of the best names in the space. we own it. >> glad you stayed for the whole time. what time's the show end, rob? >> 1:00, scott. >> jimmy. >> wobbly market at the end of summer, i'm going with the steady eddie here, berkshire hathaway. >> joe t. >> maybe this isn't good. there's still time for you to leave. you've got a couple of seconds. >> i've got

trend, dan ives called it a 1995 internet movement or 2007 iphone moment, this is a trend that is not going away. accensure is hiring 40,000 employees for a.i. adoption in addition to 40,000 you they have. there is something to this trend. how it's going to play out as an investor, nvidia is an extraordinarily expensive stofnlstock.it's not going away. some of these companies will be the next apple, the next google, or whatnot. jackie: sometimes it's not the most obvious plays that you want to get in on that everybody is following but it's the related in action. michael lee, thank you so much. mitch, you're going to stick with us all morning long. thank you, guys. coming up, the next shoe to drop, the transcripts of devon archer's testimony revealing, quote, the money guy involved with the biden family influence peddling. don't miss a moment of it. you're watching "mornings with maria" live on fox business. ♪ ♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪ let

wanted to get your reaction to dan ives' article about apple making a bid for disney. that was just nonsense i mean, i absolutely love dan. he's a terrific guy. but i don't think there's going to be any mergers anywhere anytime soon just sorry let's go to john in ohio john >> caller: hey, jim. thanks for taking my call. appreciate it. love your show >> thank you >> caller: jim, i'm a long-term investor, just so you know for my question. i've been accumulating draftkings for about three years. i've got a big position. and they had a blowout report. earnings the future looks great best in class. there was some news of disney and fant sxikatics and all of t. but it has gotten clobbered -- >> you've got to hold. they're the dominant player, the number one big problem is that the market's bad. the stock went up huge but the company's great. it's going to start doing incredibly well, making real money. therefore, i would say buy some after -- when it's minus 5 1/2 club members get a discount on the oscillator if you want it. angelo in new york. >> caller: jim, i love your sh

lauren: yep, dan ives said look at sum of the parts and separate businesses charging artificial intelligenceeries and charging alone could bring up to $20 billion in revenue by 2030. he calls tesla musk and co and price is $100 more at $350. david: abercrombie and fitch. lauren: morgan stanley thinks they're going from 51-18 and they're calling them one of the few successful retail turn arounds. david: wow, jetblue. lauren: the spirit fairs if the deal is approved and the acquisition by up to 40% in some rounds and doj not liking that and stocks are down and jetblue down 1.4% because the doj right now is suing to block this deal for jetblue to take in spirit and become the fifth largest u.s. carrier. david: am l and extremely interesting warning -- apple and the extremely interesting warning about the iphones. lauren: don't sleep next to your iphone while it's charging. don't put it on your bed, not under your pillow. that's the worst. charge it at a distance from where you are on a hard surface and in a well ventilated room otherwise the phones can heat up too much and potentially burn some

earnings rundown, all the key reports you need to watch in overtime, plus, expert analysis from dan ivesbell" will be right back somebody would ask her something and she would just walk right past them. she didn't know they were talking to her. i just could not hear. i was hesitant to get the hearing aids because of my short hair. but nobody even sees them. our nearly invisible hearing aids are just one reason we've been the brand leader for over 75 years. when i finally could hear for the first time, i started crying. i could hear everything. call 1-800-miracle and schedule your free hearing evaluation today. mlb chooses t-mobile for business for 5g solutions... ...to not only enhance the fan experience, but to advance how the game is played. now's the time to see what america's largest 5g network can do for your business. bridgett is here. now's the time to see she has no clue that i'm here. she has no clue who's in the helmet. are you ready? -i'm ready! alright. xfinity rewards creates experiences big and small, and once-in-a-lifetime. what do you see on the horizon? uncertainty? or o

new iphones and not necessarily a change in the demand picture >> steve, the bull case, i think, dan ivesone >> oh, definitely. >> wedbush going to $230, arguing that it's been years since people have upgraded, but you heard bryn talkington a moment ago saying, the phones are so good, maybe you don't need an upgrade, even after four years. >> that's been the story with apple for so long, is these life span of an apple device used to be every year, every other year, you'd upgrade. you can hang on to them for three, four, five years. what i'm really interested to look at in this next iphone cycle, though, is whether or not they're able to raise prices in this kind of environment there have been some reports about that potentially happening on the pro line. we know people are willing to pony up for those. look, if demand is weak and sales on a unit basis are relatively flat, apple's going to have to find a way to increase that revenue if the services can't make up, if mac and ipad can't make up for it, it's got to be about the iphone, so it's going to be really interesting to see, carl, what

joining us to discuss how he's playing big tech from here on out, wedbush tech analyst dan ives, dressedeady to see further gains in these magnificent sevens. very cheerful outfit today. in all seriousness, some people take that as a read that, you know, there's too much group think here, not enough funnel analysis. it's a sign of potentially a signal to the bears that a downturn could be near. does any of that concern you at all? >> i think those are all the arguments that the bears will make and i think it comes down to the growth. what i believe and i think we'll see with salesforce, with a lot of these off quarter earnings, palo alto, of course, this is going to be a strong, fundamental performance from tech, from software, from chips, in the second half of the year. in my opinion, despite the fed, despite what we've seen in terms of the 10-year, i think the tech powers through this. we see 12, 15% gains second half of the year. i think 2024, the new tech bull market is here. >> dan, you got everything you wanted out of nvidia. we talked about it for weeks. you came on. it was an inc

dan ives, quite chatty, saying this a.i.ven't seen since the iphone and the internet, 1995 he writes nvidia is a table pounder to own tech stocks across the board with the earnings, earning adjustments and the stock bump, we are seeing the forward p/e ratio i checked about 55.6 right now times, still much lower than the 80 times in may as the denominator. math increases the valuation for the expensive stock becomes more justified. out of all of the reports i've seen this morning i've narrowed it down to three themes. firstly, it's not hype a.i. is bringing in the money. secondly, nvidia's ceo and cfo say they have supply into the next year, calming fears about constraints. lastly, china is still contributing 20 to 25% of total revenues and that's with u.s. eggs port restrictions and a more watered down a.i. chip. to your point all huge reasons as to why the stock could go, what, 3, 5, 10%. we're only seeing it 3%. it's odd it's not higher. >> seems muted given the enthusiasm that greeted those numbers and not without reason,

today, dan ives comes out on salesforce, which we'll get on wednesday, reiterates an outperform, 240, sees more positive activity in cross selling, slack integration, maybe monetizing some of their a.i. efforts but that's going to key. if jim were here, i'm sure he would be talking about the kinds of things we'll see from the print and dreamforce not too long from now. >> he did point out last week things have been rather quiet in term of whatever new efforts they're making, for example, in a.i., which again, becomes a key question when it comes to the future for nvidia in terms of all of the needs they're providing for right now, for so many of the companies that are pursuing generative a.i. as part of their business model. the overall question being, will it or will they find products that actually are profitable, and what will that mean. again, sort of quoting those who are trying to explain why the stock did not actually respond more positively to that incredible quarter and the prospect for as much as $16 billion in revenue for the quarter, some would say could reach $100 billion

tech stocks, the nasdaq 100 dropping below its 50-day moving average for the first time since march dan ivesays the fundamentals are strong we got through earnings season and it looks better and if the fed is done raising rates, these stocks should be a buy and they should rally again who say you? >> yeah, i mean, look, there's no doubt that the fundamentals have come through more or less as you would have hoped. i think that the information from the reaction was that the market figured that out beforehand so, microsoft got a really good quarter. microsoft also had a lot of a.i. excitement energy running through that valuation and microsoft has traded sloppily off its quarter, even though there was nothing plea barticul about the quarter itself that got a negative i think we've been testing sort of how expensive are the big best companies in the world going to be able to stay they didn't get all the way back to their high valuations of late 2021, which is like the nasdaq 100 at 30 times forward earnings, but it got above 25 again and 27 to 8 and i think that's really what it is it's just tha

dan ives of wedbush calls it djokovic-like performance. even with some of the macroweakness. that was some of the skepticism going into this report they're vulnerable when i.t. pulls back, but 11% growth was better than the 10% expected >> that margin guidance was the holy grail getting back to 30. i think the note out of ray jay today was too legit to quit. goldman reiterates a buy they see a 50%-plus upside and you saw that cramer tweeted there's going to be a rebound of analysts who doubted their ability to get margins back to this level and they're going to be issuing mea culpas. >> they kind of already are, actually, when it comes to the analyst community. the other thing, and i read the investment note letter that jim put out last night on this name, since he's been all over it and such a strong believer in it he noted the revenue attrition rate stayed low, a sign that enterprise customers cannot afford to leave salesforce as mission critical software, he says, because the macro commentary did note what's happening and some of the weakness amy weaver, the cfo, for insta

dan ives from wedbush who maintains a buy calls it one of the biggest pr disasters and black eyes weg technology and a point of concern is guidance. competitor fortnet guided billings to grow by 10% year over year in the december 2024 quarter, that's down from 18% in the june quarter, down from 30% in the march quarter. another thing is earnings were also soft for fortnet, why the street is most likely fearing the worst for palo alto. according to guggenheim spending survey, spending intentions on palo alto products among large enterprises have actually deteriorated for the second half of this year, but improved for small to medium-sized businesses, which could impact billings which could then in turn impact free cash flow. but the company or palo alto for the last four quarters has had modest revenue beats versus the guide so maybe, just maybe, picking a friday is a way to say look at me and if berkshire can post earnings on the weekend why can't palo alto do it on a friday afternoon. >> it's a good point, cyskristi. people are freaking out about this and we've seen the stock reacti

but so we -- and i saw dan ives making the comparison there, you can see the -- it coming back down iny 2000s. so when ives is saying this is the 1995 moment, well, we all know that dotcom frenzy had two sides to the story so it is already a $1.2 trillion market cap, there is the spike you can see in cisco in the late '90s as its revenue exploded and what happens to investors who while you're absolutely right about the fundamentals for nvidia, they don't want to get in another cisco situation where they buy the stock at the peak of the excitement about the growth story >> right kelly, it is a fair point, interesting, during those times i was working in the telecom industry i lived this firsthand and what is different this time and i know it is always risky to say it is different this time is that a lot of the spenders at that time were the competitive local exchange carriers, but a lot of business plans which in hindsight were not really fully baked. look at who is driving the spending now it is really strong. major u.s. cloud players, right, very well funded, multiple sources of capex

palo alto moving higher after a strong eps guidance, that dan ives from wedbush initially called headrt, positive reaction, with revenue outlook and outlook for the full year below estimates. positive results from the street from td koun with an outperform rating. shares are up more than 12%. nvidia moving higher ahead of its earnings after the bell on wednesday and several bull calls this morning. baird calling it the top pick in chips. that's a more than 75% upside for the chip maker that's already moved 200% higher this year, but fell into correction territory last week with four other magnificent seven stocks. shares of nvidia up more than 2% right now. and this one's pretty interesting, napco security dropping more than 30% after saying it made financial reporting mistakes in the first three quarters of fiscal 2023. they said those errors led to an overstatement of inventory, an understatement of cost of goods s sold. napco makes wireless communication devices for security and fire alarm systems. shares are down more than 30% in the premarket. >> all right, frapnk appreciate it.

analyst dan ives called that decision a pr disaster and he had been a big fan of palo alto.ning us, stephanie link, cnbc contributor, great to see you. i think you're probably not in palo alto, but i want to get your take on a company announcing a friday night earnings release. it does seem a little suspect. >> yeah, it definitely does. and i wouldn't be surprised if it is weaker than expected, especially after the stock was down 25% on the day, but i do think, melissa, if palo alto is weak on the news, and it's been weak, post fortinet, both names are a buy. the addressable market is something like $280 billion between now and 2026. that's a 16% cagr. these companies are growing top line, double digits, margins are expanding and if there's a pocket of weakness because of enterprise softness, which we know about, i think you want to take a look. >> that gets to the bigger issue, and what point, even companies that are growing but have high valuations at what point do higher rates get them, and should that factor in at this point in time? >> absolutely. higher rates for longe

somebody that nailed this, dan ives goes on -- were talking about fruit loops. a torque was short on the. he is the super bowl on apple. tom forte, senior research analyst has a neutral. he is measured. he sees the optimism but you are talking about this we're talking about does barbie have legs weeks in and the idea is apple mystery as you are going to go from the iphone x and spring up to the iphone 15, i do not know. jonathan: for the kids listening, barbie still has legs. it is good to catch up. insightful comments you had on apple, you think maybe the stock had gone too far. we are down this morning by 1.8%. you are aware of the bullish thesis. the upgrade cycle, people sitting on old phones. they're going to upgrade invite new ones. where is the upgrade right now going into the new launch of new products in one month or so? tom: the most concerning statistic from yesterday was consumers are already paying for their apple product on an installment basis. the low hanging fruit has been picked to the extent that that was the opportunity for apple to get you t

iv injection given by a health professional. experts say approximately one and seven women suffer from postpartum depression. dan: fish are showing up around san francisco bay as officials confirm an outbreak of algae bloom. this is what it looked like today as we flew around to get you the pictures. it is the same species killed thousands of fish last year. the algae is known to thrive on nitrogen released by local water treatment plants. it is not known to present any risk to people alma: alma:. that's good because a lot of people will head to the water this weekend. >> we will feel the heat this weekend. right now double-digit gains across some parts of the bay area. 16 degrees warmer in concord. it is noticeable. temperatures in the 80's and 90's inland. on the coast, you are in the 50's. our camera showing plenty of sunshine. you will want to take your plans outside. the reason why the warming has begun is the high over the south is starting to move westward and that will bring us the hot weather this weekend. right now, we still have lingering fog near the coastline. the marine layer has compressed, so it