"fast money" friend gene munster is listening in. gene, i don't know if anything's happened yet.is really not doing too much and i'm wondering how you assess the quarter. there are hits and misses here. >> more misses than hits, melissa. you really need to section this into the near versus the long-term. the near-term, there's no sugar coating it, there was a disappointment. the central metric was gross margins x credits, that was 16.3%, missed the street at 17.6%, down from 29% a year ago. this is the central metric, because this is where the story hinges on, is this a car company or a tech company? that trend is not a friend for tesla right now. second, they talked about slowing production of model y, production growth of model y, and third, the miles driven by fsd came a little bit but low what i had expected. they did 520, up from 300 last quarter. when up put all this ogether, as i said, i think this was a disappointment. i'm surprised that the stock is not down more. i think the reason is this, is that volumes are going to pick up in the december quarter. that should be pos

keep us posted on this conference call, as you start to listen to it in about 15 minutes time gene munster with us so, it is losing, it didn't sound like gene thought it was too early for, you know, to declare a winner in this race so far. >> no, but it sounds like he's a lot more impress bid the marginal share gain by microsoft. look, i think this -- to me, the numbers we've seen out of the three companies we just talked about, i don't think you've seen anybody necessarily eating anybody else's lunch i think this gets back to, i mean, cloud has gotten uber competitive. at some point, there's slightly different services we're talking about. software elements that microsoft is claiming, the a.i. ingredients they're all adding but this really is a tell on cloud, i think, at some point. i think this is part of what we have to grapple with this isn't gene, ultimately, we've been talking about cloud for two, three, four years, and those folks that are most exposed and obviously aws is the driver for the valuation at amazon >> all right, let's go broader tech near. the nasdaq dropping deeper int

. >> for more, let's bring in "fast money" friend gene munster. gene, good to see you. microsoft's quarter as good as the stock pop? >> well, i think investors should just take a deep breath. we put a lot of pressure on google cloud number, the deceleration, understand that's caught people's attention from 28% to 23%, while azure had that step up from 26% to 29%, but the deep breath piece of this is just looking at the aggregate of what is in front of google over the next decade. they essentially have -- are losing share in cloud right now in part because of microsoft a optimizing openai on azure. so, they are gaining usage because of that. google's answer to openai is their new gemini platform. that is -- they were talking about it on the call here the past 35 minutes, and that's their new -- that's their answer to openai. as that gets integrated, it will start in the december quarter and further new models, they said, will be announced in 2024. microsoft will announce new models, too, but i think that this scale will tip back towards google or more level playing field

let's get some instant analysis from our friend, gene munster, the managing partner at deepwater asset management as pointed out by the desk, the reaction isn't that great. so what do you make of the earnings and the guidance because if it were really that good shouldn't we make up the losses from today's session. >> we should, melissa, and i think that eventually investors will this was a solid quarter and put a couple of points into perspective. dau, the daily active users group, 5.4%, the fourth consecutive quarter of acceleration, albeit from 3.5, to 4, 5. a 2 billion number daily active users and means that one out of every four people in the world visit a meta property daily and zuckerberg kicked off the call the first data point he gave was that the number of people that visit an app monthly was 3.9 billion. my last check, there's about 7.5 billion people in the world and means that more than half the people in the world, that's i think one of the most important overlooked points through the quarter. that means that the machine, this addictive machine that they have is intact an

. >> i think it is still too much of a spend gene munster compared the spend to apple he said there isould be comkcommecommensurate when things are going well, they will look past it. when things look sideways, people become focused. i get the move away from the metaverse. it is long overdue shiny object think about facebook and google as well. now people are talking about it more it comes down to ad spend and that's what people are concerned about. >> one more point on meta, guy you are talking about the valuation of the companies meta trading 21 times forward earnings does that justify the valuation? >> the trade is cheap. you can make a compelling argument the problem is if things start to decelerate on the revenue side of things, the market will say valuation out the window when it is decelerating, they say it is a value trap that's the move you are seeing now. >> guy, i want to turn to another part of the magnificent seven. amazon reports after close today. deidra bosa has more let's watch. >> reporter: frank, good morning. amazon has under performed over the third quarter and it

so, i expect -- and gene munster mentions this, one of the first things they talk about is the installreally want people to focus more on what the blended multiple might be for services and to continue to grow that install base, that means hopefully you're going to ge more services. services is a business that's kind of con trained in china, when you think about access to the fire wall there and everything like that so, to me, china is very important, all that being said, it's down 15% on the print it could have an amazon response, maybe a bit of a bounce, but i would be a seller. tim's been saying 150 to the downside >> karen >> i'm very lukewarm on it i have a tiny position, just to force me to focus on it. but i have way more amazon, google, meta, netflix, so, not that optimistic. >> all right well, up next, your final trade. hey you, with the small business... ...whoa... you've got all kinds of bright ideas, that your customers need to know about. constant contact makes it easy. with everything from managing your social posts, and events, to email and sms marketing. constant contac