my favorite analyst is with us, his maim is mark -- name is mark mahaney. mark, welcome back.u just raised your target price from 400 to 550. mark mahaney, that was a bold move. finish. >> well, good morning, stu. your words are always very kind. let's see, on netflix, yeah, we started off tech earnings season yesterday with both tesla and netflix trading progressively. netflix probably had the highest expectation of any of the stocks i cover, you know, just so you can look at the stock price, the share -- the chart year to date. stock was up over 50%. expectations were high going into a print, and you have to ask yourself, did they just have a fundamentals correction or an expectations correction. you can buy the last arer, you can't buy the first on a stock that's had a big rise. i think it's more of an expectations correction. i think they're still going to have revenue growth acceleration in the back half of the year, margin expansion. they materially increase the level of cash flow that they think they'll generate, it and looks like paid sharing has worked really well, th

mark mahaney, head of internet research, joins us this morning.r you shuffle them around, mark. i wonder, whether it was the concerns about wages in new york city that made you feel uber was trading more attractively or something else >> i think it was more that meta had a great rally year to date i think it's well justified. i think the risk-reward gets less compelling here i like uber and the setup despite the fact that cfo looks like is going to be departing. the news came after we made it our top pick the timing does make me cautious but not enough to undermine the beat, which we have value catalysts in the 12 months, potential inclusion in the s&p 500, the attaining and sustaining of gap earnings profitability and i think they will start buying back stock so i have value capitals for a name that we think is holding up well that made uber our number one pick. >> where does it -- moving meta not to number two but farther down the list, what does that say about the year to date appreciation or your view on thread potential revenue which made new

let's take mark mahaney to come in here. mark erik i wanted to talk specifically about amazon.k. you basically said as i was reading your notes it is by far and away the leading position among the online retailer, and i don't think anyone would disagree with you. do you like it at $129 a sharesome. >> yeah, we do, actually. it's one of our top three picks. meta's our top pick, and we actually like this new threads product that they're rolling out. uber's number two and amazon at $150. amazon's fundamentals have been severely pressured as has the stock over the last 2-3 years. the question is whether you can catch the turn in the fundamentals here. we think we can. we think we're closer to a trough multiple with kind of weak trough margins and revenue growth particularly in the cloud-computing space. but the retail segment looks as competitive as ever, and the faster and faster that they roll out shipping, and we're seeing more examples of these same-day, overnight shipping from amazon, we think they'll lock in spend from their happy prime customers for more, so that that's good

they seem to have some clear sight of getting to growth trajectory, 200 million users is what mark mahaneys we will end up having, double of where we have gotten in the last five days alone. 200 million, that is just shy of the entirety of twitter users when we last got the public numbers this time last year. so we are getting critical mass, you are getting maybe a trajectory towards $8 billion per year in terms of revenue. put in context, this company rakes and 150 billion for the annual revenue of 2025. they have got to switch on the advertising and wait until we get growth numbers. matt: it is amazing how quickly they have grown, especially compared to uber, which took years? hundred million users. even chatgpt, which took months. caroline: at least two. matt: why is it so successful, considering the fact it is not at all differentiated from twitter? there is zero difference between the two. caroline: maybe that is one of the reasons. maybe people wanted exactly what twitter serves, but run by different people. they felt the stability of ownership has taken away from their experience, m

one of my favorite analysts is with us now, his name is mark a mahaney. your number one stock pick, and you think it's going to $75 a share. mark, we love you here. [laughter] >> stu, i didn't know that you had bought it, so, yes, we did make it our number one pick. look, i look across tech as a whole, we've had a major rally in the shares year to date, so we need to ask some questions. you know, are we at peak multiples and fundamentals? if i don't think we are. we clearly have multiples across the group kind of rise, but we're still a little bit below average, and i still think a lot of these sectors are depressed, retail, cloud computing, the revenue is still soft. what that tells me is i think you still ride these stocks for this year. i know we've hat a grade -- had a great rally, but you continue to be long and tactical. i like uber because it's not one of the magnificent seven stocks, and i think it's got some great value catalysts coming up. i think they'll start buying back shares, and i think they'll get add added to the s&p 500 in the next 12-18

they turned to mark mahaney.ey he can take a fender bass and plays a completely different from a standup base. jonathan: but faces easier right? tom: no, your base will cancel on you. jonathan: i always thought you just wanted to join the band so you started with base. tom: don't cancel us, please. jonathan: i have to be honest i thought that was the case. futures positive. this is bloomberg. good morning. ♪ tom: bloomberg surveillance, we say good morning to you. a really eventful day. important out of paris, you will begin to see luxury in france. we will see what they do. we go onto tech earnings this afternoon, with romaine bostick at all we are doing this afternoon. we get a 30 minute prebrief on the economics of the day, the housing data. right now, philadelphia fed manufacturing to provide billions -- brilliance. mike: it is not nearly as old as the manufacturing index and regional indexes do not make as much of a difference. 1.4 is the number, it was -16.6 before. this flies in the face of the other servi

caroline: mark mahaney, evercore isi analyst. the uber perspective, your topic interesting.hank you so much. coming up, the big deal, kpmg and microsoft entering a multibillion-dollar ai and cloud services agreement. we discussed next with the ceo. and look at shopify. let's go to the nitty-gritty, the fascinating story of this company is putting a price tag on time. a calculator that estimates the cost of any meeting of three or more people. the company is trying to push you to be more productive and take away with the project to be routed 22,000 hours of meetings by putting a price tag on it. this is bloomberg. ♪ the first time you connected your godaddy website and your store was also the first time you realized... well, we can do anything. cheesecake cookies? the chookie! manage all your sales from one place with a partner that always puts you first. (we did it) start today at godaddy.com caroline: kpmg has announced a multibillion-dollar commitment into the microsoft cloud at ai services. over the next five years, it is expected to bring in more than $12 billion. joinin

what about pinterest we talked to mark mahaney.ion point do you >> i disagree with that. i think it's a sell. i think it's a sell because, so although i would say their gross margin is above average, which i like however, the margin is minus 11% compared to 6% for the industry and their sgn accosts are out of control. the ceo compensation is out of control. the ceo has half a billion in compensation for the last three years. although the stock price was decreasing and so this is not fair for their employees and it is not fair for the shareholders i do not see any reason to justify it this is a company that's right for the activist investor, and for investors to come in it's a sell for me >> we'll have a bull/bear debate all over pinterest thank you. we appreciate it >> still to come, europe's economic reality and the french drinking less red wine and italians rationing pasta and the consumption of meat and recession taking the romance out of that european way of life 'ldiusth and much more when "power lunch" returns i'm so glad we

it, it's not the biggest mover for amazon's stock lately or for the analysts on amazon we had mark mahaneyyear, because of aws and the shift towards a.i. how is the street thinking about it >> absolutely. i think that's spot on really it's not the retail business that's driving investors' excitement in amazon. consumers love it. it's not why an investor buys a stock. it doesn't hurt to have it enter into the prime membership and have that prime membership fuel the fly wheel in other ways at amazon, but it's the aws, the a.i. possibilities, where the value is for investors in the stock. as we mentioned at the top, usually these prime day events don't move very much for the stock, although important, generally, from a gross merchandise value for this quarter every year. >> thank you for breaking it down courtney reagan. >>> taylor swift taking down ticketmaster yet again this time in france. we're going to discuss when we come right back. ♪ opportunity is using data to create a competitive advantage. ♪ it's raising capital to help companies change the world. ♪ opportunity is making the dream

uber evercorp calls uber it news number one pick, mark mahaney replaces meta. it's been on a run, josh, and steph, or josh told you that, gosh, for so many months now year to date it's up a 74% i was going to -- i mentioned you because i'm still channeling meta you've been trimming the position. >> you're obsessed with me. >> mahaney says new number one pick for him. >> it's mine. >> that's uber. >> i don't like walk down the street giving people stock tips, but like if somebody is like what are you the most excited about? in my personal opinion, i own this stock and my average cost is in the 30s, bought it high, it crashed, bought it low. i've been in it a long time. when people ask me what are you most excited about this is the most mispriced large cap tech stock it's not even in the s&p 500 yet. the stock is trading 2 1/2 times price to sales in 2021 it sold 10 times sales so now you have a story where you've got a company with i don't want to call it a monopoly per se, but lyft is kind of dead in the water uber is a verb they have gotten out of so many bad

. >>> mark mahaney citing a.i.ompany, and meta moves down to the number three spot after a major rally in the stock the price target for meta stands at 350 >> old school is great stealy dan song, but guess who claims -- three universities claim the oldest the university of georgia, and the university of north carolina, chapel hill and college of william and mary, and for different reasons. north carolina was the first to hold classes, and georgia was the first created by a state charter, so they all claim, and we are back to north carolina, old school, are you ready to -- >> to what >> let's have a personal bet >> i don't like to bet i don't enjoy that at all. >> a dollar? >> i would rather have a dollar in my pocket than a in yours >> you wouldn't rather have two dollars? >> not at the risk of losing a dollar >>> joining us to talk crypto, the coin share's chief strategy officer, and thank you for saving me from the bet >> that in bitcoin could be a great online bet >> probably better in bitcoin than a dollar, and