nvidia surged 81%.oth companies and their stocks, but you're in the exactly getting in at the ground floor anymore. so tonight, i want to give you some additional options. some other ways to play this generative ai story. not with the companies that are creating ai, but with the companies that will be using ai to improve their existing businesses going forward. this is all eye opening stuff, people. you haven't heard this yet. you can think of them as ai collaborators. that makes them sound like bad guys in the next terminator reboot. we know who they are though. because last week, nvidia, in its incredible technology conference, gave us a bunch. they have a host of new partners and customers for their ai platforms. basically, they gave us a list of collaborators. of the list from nvidia, the one that jumped right out for me was adobe which was already on our radar screen for ai after we spoke to the ceo. he told us the sheer scale of adobe's user base makes it the perfect place for ai functionality to

we're going to talk about nvidia later. i talk about this a number of times. i was way early on the trade, admit that 100%, but where do you want to be when earnings growth is slowing? you want to be in companies that are insulated from the economy some of these tech names are that at the same time, if you do have a fed that hikes less than everybody thinks it's going to, overall i don't think that's a good thing you go back to history, the first rate hike is not good, but that could support multiples. >> it's investing 101. you buy growth companies in a falling rate environment so to everything that you said, they might be able to hold this -- i always believe there's going to be reversion when you see a spike up or a dive down. but if you think that rates have peaked or we're closer to the end, which we are, then you have to be buying growth stocks, tech stocks. >> you want to be ready to average into them. we haven't had the recession yet, steve. >> i think we'll get the reversion. you think get -- everything's frothy, because people looking for management

it's the best quarter for nvidia in a while the software business at nvidia -- >> people miss that. >some people don't understand there is a software -- >> grace and hopper, these different chips with software, what people don't understand about nvidia is they change their model a bit. you can go to oracle you can go to alphabet you can go to microsoft, or you can go to them, and they'll package it for you they are both a wholesaler and to some degree a retailer, but there's no doubt about it, this thing is chock-full of software as opposed to some of its competitors that are just kind of lost. >> do you think the tech trade, to the degree it's working right now, is about sort of structural growth stories in a.i. and computing? or is it just, hey, we're on the heels or about to get our last hike, we think >> well, i mean, if we talk to -- let's say you talk to sanjay and read the call last night for micron chatgpt gets mentioned first, but chatgpt is very small. it's not a needle-mover for them you go to nvidia, and you realize that things are a little more robust. let's totally pivot

josh owns nvidia. should we care about valuation when it comes to nvidia, or do you say a.i., therefore, you buy it? >> i'm in my eighth year as a share holder in this name, and never once has it been a, quote, unquote, cheap stock on the basis of price earnings, not even one time. why is that? well, sometimes there are things investors are paying attention to beyond how much net income can be pulled to the bottom line in any 12-month period and this is one of those times. i don't mean that to say who cares about the valuation pay, if you look at the potential revenue growth here which becomes earnings and you understand that 80% of the market for anything to do with a.i. runs through nvidia's gpus and software platform, you get why people are, quote, unquote, overpaying for the stock. it's expensive. it always has been. it's more expensive now than most of the time i've been a shareholder but arguably it's never been a more important company for what's coming next. if you think chatgpt 4 is a big deal because it can do your homework for you, wait until they enable us to cure

nvidia is the modern day da vinci will keep there it.bull market somewhere. i promise to try to find it for you right here on "mad money." i'm jim cramer. see you tomorrow. "last call" starts now.

if you want to be in nvidia, ai, nvidia is the biggest way to do it. the ceo does television. it checks so many boxes. i think that's what's going on there. >> you know, jim, i feel like because you mentioned how you're a little not as bullish. i'm not going to ascribe bearish to you but in the same light i feel like your bullish scenario suffered a slow leak. >> it has. it has, scott. >> we all know the guy who sells flex seal isn't running over here to save the day anytime soon. >> stop making liz laugh. >> a slow leak becomes a bigger leak. explain to me why that's not going to happen and why you still want to stay with industrial type stocks and cyclicals. don't tell me onshoring. >> i was thinking about this as i was listening to josh and he had a turn of phrase. >> phil swift, is he the one who runs to the rescue with flex seal? he makes the boat stick -- >> i thought i'm the one who is supposed to give examples from last century. josh said something, it would be atypical to not get the recession. something ahistorical. i think that's right and i think there is something

nvidia, meta-, or tesla? the majority of you said nvidia. up next, closing in on the best quarter in a decade. we speak to a shareholder about where that stock of beheading from here. it is not nvidia, but we will tell you next one come back into markets owned. ♪ icy hot pro starts working instantly. with two max-strength pain relievers. ♪ so you can rise from pain like a pro. icy hot pro. bridgett is here. 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. power e*trade's award-winning trading app makes trading easier. with its customizable options chain, easy-to-use tools, and paper trading to help sharpen your skills, you can stay on top of the market from wherever you are. power e*trade's easy-to-use tools make complex trading less complicated. custom scans help you find new trading opportunities. while an earnings tool helps you plan your trades and stay on top of the market. >>> all right. let's do it. we are

nvidia makes the chips. any announcements coming from nvidia today? day. >> developer day yesterday. i thought it was really impressive yesterday, because you know, nvidia is seen as the undisputed king of artificial intelligence. at least one-to-two-steps ahead of everybody else according to wall street analysts unveiling numerous partnerships yesterday. new fast, sophisticated chips and analysts by the way if you can bring up this board, reiterating their bullish price targets. all of them kept, reiterated or even raised their price target. morgan stanley calling nvidia a $304 stock and that's why the stock is up 73% so far this year in just about three months time. marvel by the way another chipmaker, so this is why nvidia looks so good because marvel is another ai chipmaker cutting 4% of their staff. puzzling, but google by the way, i have now been allowed to use their chatgpt competitor bart but you've seen the google ceo saying there will be some hiccups and some flaws in the program maybe but i'll let you know. stuart: you used it? >> i have us

but investors are watching nvidia. why should we care?it further entrenches nvidia into the semiconductor manufacturing supply chain. the stock, like you mentioned, moving higher year to date over, what, 80%, up today ever so slightly, 1.7% versus the stocks which is up 24% year to date. and nvidia is on track for the best quarter. >> it's a $650 billion market cap right now. it dwarves everything else in the semiconductor industry. just multiples of amd at this point, and, you know, it's almost as if the market only really bestows that kind of market value on companies it thinks are more than hardware. they have to have some kind of recurring and defensible ecosystem around them. clearly that's the piece of the message for investors. >> we saw that with announcements made today. this is about becoming a cloud service company, so it's not just a chip name. it's going to transition and maybe even, you know, five or ten years from now, more than 50% of nvidia's revenue is actually going to come from software reoccurring subscription models

nvidia is up almost 80% year to date some of the reason is the same thing.graphics cards plummeted and all of that, we're through all of that, and we're at two product cycles, and both should drive pretty good growth for the year so that's a positive now, on top of that, people are beginning to get really excited finalbly artificial intelligence and generative ai, and chat gpt and nvidia is probably the purest way to play that theme and that has been driving a lot of demand i think for the shares and it is really supporting it, it is that narrative, it has been playing out over the last, especially over the last couple of months, as this has really sort of struck the public. >> sure. i mean i know you've actually, you know, been supportive of nvidia, but i just wonder at what point do you say look, it's kind of overdone in the short term or maybe you have to down play your expectations and we've traded higher than this with nvidia, except for a few months around the nasdaq peak. >> nvidia is expensive the day it was launched in 2017 or something, it was 45 t

>> i was going to say nvidia.a than tesla? >> final trade. >> i actually get to do it. >> i'm trying to give a tribute here. new york sports have had amazing captains. willis reed at the top of the list. he passed away today. so, "fast money" family, condolences to the reed family. i mean that sincerely. cmg comes out, chipotle mexican grill. >> it comes out other ways. >> noted.

nvidia is who. wall street recognized the power of ai and much of it comes from cramer nvidia. today's nvidia's renaissance man jensen wong gave a speech at the technology conference and i think that it should be required viewing, because it gives us great insights into the future, and you must see it if you are going to own tech stocks. and now, the visionary and founder and ceo of nvidia, and jensen, welcome back to "mad money." >> hey, jim. nice to see you. >> it has been a couple of years, but when people say that this is the iphone moment for something, and the iphone moment for ai? >> yeah, it is a big deal. you know, with the pc, and with the internet and then cloud, and mobile cloud, iphone created a new computing platform, and a new computing model, and the way you program it is different and the way you use it is different, and the way you can use it is incredible with generative ai and you program it with human language and not fortran or java or any other language, but your language. it can be precise or imprecise, and through conversation, this computer figures out

nvidia's processes do that.d: bloomberg's ian king is not quite as old as a chip industry but he is here a long time and we are grateful to have them. we are watching shares of alibaba search under the second day of news that the company is splitting up. we will bring you the details of that plan next. this is bloomberg. ♪ ed: alibaba's massive overhaul plan boosted chinese tech stocks tonight with investors -- the revelatory environment improves and shares of alibaba surged earlier by the most since november out in a long tongue after the news of the company will be slitting its to $50 billion empire into six business --$250 billion dollar empire into six business units. they have been having time to digest what is going on and we are hearing develop its on how they will present the plan. >> this is the second rally in two days and it means that investors are liking what they see because allie bobby is a -- alibaba will be split into six and analysts like this. analysts have upgraded alibaba from attitude by. -

. >>> coming up, nvidia's iphone moment.ng a bold the chip giant revealing a bold push into a.i. what if you were a trendy apparel company facing an avalanche of demand? to ensure more customers can buy more sherpa-lined jackets, you call ibm to automate your it infrastructure with ai . now your systems monitor themselves. what used to take hours takes minutes. and you have an ecommerce platform designed to handle sudden spikes in overall demand... as in actual overalls. ♪♪ >>> welcome back, everybody. time for today's tech check. we have a ton of nvidia headlines. let get to dierdre bosa. >> another day, another slew of a.i. announcements. these aren't the gimmicky ones like using a.i. for writing your remarks. this comes from nvidia, abode. jenson huang summing it up. >> chat gpt heard around the world. a new computing platform has been invented. the a.i. moment of a.i. has started. computing and a.i. have arrived. >> as kristina partsinevelos put it, nvidia wants to power the revolution. most analysts in the market sees t

nvidia is an incredible growth story.arted to reward that this year, has had an incredible move higher i think this is where valuation still matters and is to see price targets having to look out to 2027 to justify a higher price target is concerning it doesn't take away from the fact we think nvidia is the best long-term growth story within the space and you can argue within the market to a certain extent this year we're probably in for another period of volatility i think new money to work is tough. >> i'm looking at the valuation now. 65 times forward evenings. steve weiss, justified >> no. high quality company, good management it's still capital intensive it has a yield of i think about 2% on an ebitda basis a ridiculous multiple the price increases we're seeing today, they're ridiculous. they're only raising price target because the stocks reached their price target before they have to make the decision, do i make up some reason to keep this on the list and in order to do so, the buy list, i have to raise my price ta

you need to stedi■a little livel here. >> nvidia u5+h!mand for the rest of the market i'm not really thatw3■comfortab saying we know how this ends we have the vix down to 19 why is the vix down to 19? market has been incredibly calm. thei] actual volatility of the p 500 in vix terms is 16 the market has stayed relatively on firm footing, and it's because of this rotation that we've gotten here. the otheri] piece of it is the extreme growth stock outperformance thati] has held ■ index up is the answer to those people who say, stock market's oblivious to the recession risk. the stock market isu oblivious t the bond market. >> notç■ really. >> not really. the rest of the market is still trying to get its feet under it. they're holding up they're not back to the december lows but they certainly don't look like the s&p which is now on track for like a 5% quarter. >> seasonality your friend, toou >> aprile■ a good month. >> it has tended to be"éá■e bac market, but it's certainly not ■ reason to get incrementally more worried about the market so

nvidia out with a cracking set of numbers.hip sector, nvidia is highly focused on what is happening in the auto sector. it is painting a positive picture today, really positive picture. you have the next following about a challenging year ahead. that tells you about what it anticipates and understanding consumer confidence going forward. we have a global picture on that narrative tomorrow. we can numbers are for the retailers. let us start talking about the day ahead. engine our numbers tomorrow, q1. it will be interesting to hear what he has to say about what is happening with the consumer. for guidance will be interesting. talking about consumer confidence, eurozone consumer confidence data tomorrow as well. we have u.s. consumer confidence data and it was quite strong, is surprise a lot of people on the upside, the banking crisis does not seem to have a meaningful impact. we will get into the inflation data. we get spain and germany tomorrow. they'll give us an early date and to -- that will give us an early number. the foc

march may be a little better than what we saw earlier this year but nvidia, alphabet, apple, microsoftl of these tech names are starting off with some more tepid footing gains here for alphabet, but watch apple. interestingly enough, i know that you know, i watch along the top ticker searches, apple has always been a top ten ticker search recently, there's a lot more interest, at least there was yesterday in meta platforms. >> i would have thought nvidia >> nvidia is still up there, higher on the list this time around than meta and apple >> dom, thank you. >>> let's get to rates the ten-year yield back above 4% for the first time since last fall let's get to rick with more. >> i'm going to borrow that chart you just showed. let's go back to that 10-year chart. prices paid today was the culprit at 10:00 eastern when it was released you do see that touch of 4% where it stopped that is a big psychological area and will prove to be important relative to a close should it occur today or not and if we open the chart up, yes, it's been since november 9th that we closed at or above 4%, as you

amd, meta, nvidia, microsoft, top beneficiaries.h those names, maybe you can say a hacven, right stronger balance sheet, especially when the problem du jour is in the -- >> sorry mike isn't here to debate whether it is the result of lower rates we're 100 basis points lower on the two-year in a week you believe that mike said it is also rotation to safer names. >> i think the broader point is actually similar, which is, the market and the move in bonds is positioning for a weaker economy this week and lower interest rates. all of that makes secular growth versus cyclical growth more attractive when you're talking about secular growth, you're talking about tech, right? whether it is big tech or ark innovation fund or bit ccoin, it rallies with weaker rates and what is the plus in fang plus, any idea >> no. >> all right >> apple >> maybe. >> nvidia. >> fang, apple was originally. >> alphabet, no, google is the "g." fang hasn't worked. >> not in a long time. >> the pressure. >> meta benefitted from the manifesto by mark zuckerberg, talk

i]t( >> yeah.cm cf1 o >> nvidia. i mean, you gotx:"*p()háo nvidia.jensenxd huang's speech,fáq he talks abo howÑi moore's law is outdated a when you look at the obituary of moore's law, he tooe1 said it would be outdated. you don't getifá the incrementa power with these small chips. intel has been teaching thisfá week -- i don't know if they'll week -- i don't know if they'll address this -- but jensen wy& not so az off. the man who invented qmoore'su■w is the one who say, qmoore's la has runq itse1 t(course. >> sort of ine1 thati] area, pi today out of ubs, they go to buy. if it's not a 52-week high, it's awfully close. >> when youó4wjjz at thehtr)y they're talking about meta doing well, snap doing well, ttt doing i wish we could speak to bill ready. >> you can stick around if you would like, 10:00 a.m. this morning. >> i got a morning meeting. i gotÑi my bigc investing club.■ tomorrow,fáÑi david -- >> convention? >> yeah, we convene once a month. we're a club. like thelp elks. >> all right. >vbsik >> yeah. >> toast masters. >> we built a bar.my■ dav

shares in nvidia close higher in the u.s.ng the company's release of a new ai focused chip and supercomputing services. everyone is hyped about ai right now. the chief technology officer said the company is doing more than ever to ensure new technology is being used ethically. >> every new technology and new revolution will technology is an opportunity for doing good things and for doing bad things. we definitely need to be aware of this and be ready to mitigate this. with nvidia, we work closely with collaborating with -- to make our technology to the extent that we can not get to the bad hymns. we cannot trace it down all the way to the end user, but we make sure that people that we sell our things for, our technology and products were not using them in the way that will damage society. >> you are confident that in terms of the framework and the focus on ethics of ai and -- that nvidia is doing enough? >> we are doing more than enough. we are the very extreme case side of this. we are definitely not doing anything in the gr

c 3, applications, nvidia with the gpus.gle is interesting, they have the tpus, data, public cloud capabilities. you're looking at other players like adobe what they have been able to do in the conference where they have regenerative a.i. and authenticity which protections creators in the future. charles: you were at the conference. jensen brought them up. i was listening to them on his call and he had a lot of great things to say about them. appreciate it. >> take care. charles: coming up folks, politicians are taking the war on inflation to retailer profits. i will ask kristen bentz if that means limited upside for even the best companies out there. but first my next guest warns of gray swans that ceos should keep an eye on. dana petersen will be here to share examples next. ♪. you'll always remember buying your first car. but the things that last a lifetime like happiness, love and confidence... you can't buy those. but you can invest in them. at t. rowe price, our strategic investing approach can help you build the futur

and today it took 19 times hey, if i bought nvidia, i would understand your consummation there but i didn't buy a stock that's trading at 100 times earnings basically a market multiple that's got big momentum and i think will do well i have the option of tiktok does get banned, it does add to the growth here. part of that is reflecting in the stock, admittedly. again, its valuation and support is under it, if i'm wrong. i don't like the metaverse play. they're cutting back on it that's attractive. >> kari, what about tech i know you own meta, and we don't need to have a conversation about that and i don't want to specifically about meta, but, overall, this motion that, all right, tech has run a lot. it's going to continue to run, right in what you thought would happen this year is not happening thus far can't beat them, join them just continue to buy big cap tech is that the right play >> well, so just to be clear, what we thought would happen this year has happened so tech stocks were destroyed, and despite the group down 30%, many stocks were down 50% to 80% including some of the b

as anyone else. >> nvidia is far outside the scope of this particular call which is about hand sets >> right >> nvidia lives on its own planet it's a highly volatile stock it's up 87% over the last six months, but that's because of the degree to which it got killed in most of 2022 the stock is an outperformer it has been for a long time on almost every time frame. you have to live through blood curdling moments i agree with what jim said if the economy is not going to recover this year or is going to get worse, you probably, broadly speaking, do not want to have a lot of semiconductor exposure because these are highly cyclical names every single part of the sector from the chips themselves to the capital equipment names. so you have to be really optimistic about global growth to want to get very excited about the semis, and i personally am not. >> i'm glad you made the distinction about this call. in terms of bottoming, it's consumer pc and hand set industrial and auto have yet to correct. that brings it to mind i should have mentioned that off the top. european markets are closing

nvidia and meta surging. regional banks under pressure. what does it mean to be ever better? your customers getting what they ordered when they expect it. discover how ryder ecommerce makes your customer's experience ever better. mom: hey! cheap flight alert! discover how ryder ecommerce madaughter: hawaii! can we go?ce dad: maybe. i'll put a request in monday. sfx: shattering glass. theme song: unnecessary action hero! dad: was that necessary? unnecessary action hero: no. neither is missing this deal. with paycom, vacation is yours to manage. unnecessary action hero: not to mention benefits, scheduling, payroll. it's hr in the palm of your hand. dad: wow. unnecessary action hero: ask your employer about paycom. and make the unnecessary, unnecessary. dad: approved! >>> banking is a regulated industry for a reason, because of its impact on the rest of the economy. we need the regulators right now just as joe biden said yesterday, they need to tighten those regulations down right now. jerome powell needs to do 180 degrees, and all those regulations he moved down, he needs to st

with nvidia, we worked very closely with regulators.the extent that we could we make sure that our technology and products didn't get into bad hands. we can trace it down to the end user, but we made sure that the things we sold our things for our not using them in the way that would damage society. >> you are confident that the terms of the framework of ai, nvidia was doing enough? >> more than enough. we are definitely not doing anything in a gray area. it's very black-and-white. we are not getting into the gray area. we are developing technologies that will enable the mitigation of cyberattack in the data center. now there are people even more dependent on that data center financial structure that will enable the provisioning and mitigating of a cyberattack within milliseconds or seconds or within a few months. caroline: you have customers -- >> you have customers all over the world. how do you serve your chinese clients and customers given the band by the u.s. on those ships? how do you continue to serve them? >> first of all if you

it includes the nvidia nima platform. it allows you to build generative neural networks that work primarily with text and nvidia picasa too, but only to create video images and three-dimensional objects, this is also supported by the employees of the bear itself, and its cloud service dj-warehouse, which is deployed at the facilities of microsoft and google cloud and oracle cloud, that is, almost all the world's largest providers of such services, the point here is that creating a large language model from scratch takes many billions of dollars for years and requires enormous computing resources to train a neural network. and here all this is offered. as a server, the neural network is actually ready, which remains to be configured for its tasks and trained on its data set, this can be, for example, text or images protected by copyright or something very confidential and get something at the output like chad gpt, but not trained on the entire internet, but on internal documentation of patents, developments, discoveries an

how about nvidia let's go to stack -- oh, no, that's it.s and gentlemen, is the conclusion of the "lightning round"! >> announcer: coming up, cramer identifies a few terms he'd like to retire from the home gamer's lexicon. go back to basics with "mad money. next >>> here's some terms we need to retire risk on risk off overweight or underweight. these terms were born in the institutional money management world. they have no business on this show or in your thinking because they almost always lead you astray allow me to explain. i've been writing about companies and their stocks professionally since 1981. and it's been a lucrative experience for many who read me. believe me if it weren't i quof quit years ago along the way tons of etfs to mirror certain sectors these companies made fortunes selling these stuff to promoters. then we had flair flavor of the day etfs, then actively managed etfs that's nuts. these are supposed to be passive beings lots of people and especially institutions got away from owning individual stocks entirely we got to

i'm long nvidia, i sold some poorly, i'm inclined to sell more. >> and i'm short nvidia.one of this worries me here, based on the valuation, based on the fact that the ceo of the earnings call pointed out that we think software will be the operating system for a.i chatgpt is something that will be a material change for 2023. i don't think those are irresponsible comments, but comments we have heard also around crypto, and also what we have heard around gaming any opportunity -- >> disjust raise your hand >> it's a new format, you know. >> it just to shut me up got it. >> did we see a bust in nvidia when crypto went bust, or comme commensurate, a bust -- i'm trying to work this out in terms of a.i maybe it's possible you can ride it a bit. >> we haven't seen anything close to a bust in nvidia, but i hear what you're saying. semis were falling out of bed for reasons. again, longer during aequities that you're banks on the future. >>> a lot more "fast money" to come here's what's coming up next. >> announcer: the options action on volatility as markets continue to swing. the

nvidia is terrific apple has a great balance sheet.ion what alphabet is doing, question what amazon is doing. meta knows what to do. there's not a lot, david, not a lot of tech you want to own because everybody owns enterprise, and there's too many -- >> still >> another 500 enterprise software companies looking for capital. 500, not 50. 500. that's the new era, bye bye happiness. >> back to our discussion yesterday, echoes rhymes with dot-com shakeout. >> i don't disagree with that. we don't need that many companies that help you do -- that go in the cloud and help you generate new software -- david, did you see blackstone did a buy of a company -- >> i'm going to talk about all these lbos, but continue. >> i'm just saying there's too many companies -- there's too many fintech, too many enterprise software. we don't need them all they have to coalesce or go under, and i think mark zuckerberg's got -- this is a manifesto that says we've got to view like the rest of the companies in this country and the world. we have to be like a railr

. >> nvidia. >> yeah.ore's law. he said,xd there's noñr more adñ,m!ge to shrinking the footprint, and it's also too hot, not sustainable. let's just scrap intel. and it's just amazing. that's howfá he started.9xìá did not mentionñr t(intel, butt talked about the way we shrunk ig gaining factor mentally, because most people think, let's get the newt( pgt) saying, forget that. that's just wrong. nobody cares anymore. forget it. very threatening to intel.Ñi but not what he's talking about. >> there's a reason whyÑv9y% ■ has a $650 billion market value] u far, far, far smaller. u:uy a lot of people sold ot of people solde1 intelt( and nvidia down all the way. i mean, nvidia, take a look at where it was. people felt it was a gaming card how could they have been soñ1 wrong? i was screaming ever&f day, but no one listened. i was a still, small voice in the wilderness. >> still, small voice in the wilderness. poetry sometimes. >>> coming 'cwey we'reÑilp goin get cramer's "mad dash" and count down to the opening be

when i'm at nvidia, i think of you.ings more than life like and actually are you yourself, it would turn it into things that blow us away with more rate s and power. is it possible to do an entire refresh of what jensen and nvidia is doing? >> not just nvidia there is plenty of companies doing great work yes, we're still in a sort of technical deficit, which is to say there is great opportunity ahead. >> right. >> we haven't reached a technical part in the business as i would argue for example the movie business has that's at least ten years away we'll be able to do live action in a computer. doesn't mean everything will look that way. mobile isn't going to look that way. it shouldn't will we have that ability thanks to nvidia and other companies? we will. >> okay. one last question, i think that's fabulous and that's the way to look at take two. but what if i'm an animal list a -- analyst and saying he guided down, and missed the numbers, do i ignore that. >> show up every day, deliver results, the rest will take care

one of the most important parts of nvidia's growth stories is the developing. is that going to be a competitive advantage? we are not quite sure on that but for now there's probably no cleaner play van nvidia but as you start thinking across the ecosystem was interesting, we just mentioned microsoft anything they do as upside. had they potentially displays google as the default on ios? caroline: could they? ed: what you think? >> they potentially could. if you are apple, you just want to provide a consistent user experience and you want to extract as much economic value as you can. ed: another ackerman -- acronym we have been hearing fomo is what we are seeing in the market broadly. based on fundamentals, i think not. >> know, it's not. when i talked about the classic so we have two things we had the early cycle behavior in terms of the market and then we also have the from medic artificial intelligent kind of investing environment the institutional and it's easy to kind of throw some capital so the reality is that is a lot of fomo because the fundamentals have

either megaor right on the doorstep if you put nvidia in that, we're up double digits. >> think about microsoft and nvidia, they get the chatgpt push and tesla rerates itself because it was so low and apple is coming out as a decent multiple. where do they make money? in the cloud. i would buy microsoft over that all day long because amazon still loses money on the consumer side. so i think it's a high p/e stock that loses money in an important business. i'd rather own a microsoft that has five or six chassis plus the ai. amazon that still has a new ceo which i get, he's been there since '98 and hired9 back up to 35 from 25. for whatever it's worth. >> there's areas already in recession. technology is in a recession. >> economic growth might not be. important areas are clearly in re . >> it's going along. by the time you're in a recession, by the time you see two negative quarters of gdp, you're coming out of it already. >> at what point do you start to get more positive? >> you can't be negative forever. >> a time frame, maybe it's six months. i think at that point, the analysts and

story, boosting nvidia.ese sort of individual narrative threads that are helping out. >> a.i. offsetting higher interest rates. >> even as it hurts google, yes. >> see you in a while. mike santoli. >>> the president is expected to unveil the fiscal year '24 budget today calling for a $3 trillion reduction in deficit as concerns over the debt ceiling loom kayla tausche has more from the white house. good morning, kayla. >> reporter: good morning, carl. president biden increased his deficit reduction target from $2 trillion earlier this year as his administration moves to cut some spending while raising taxes to fund his top priorities like higher defense spending, child care, universal pre-k and paid leave the biden administration you, according to a source familiar with the matter, will propose 25% tax on income over $100 million, what they're calling the top 0.1% they'll propose a 28% corporate tax rate and a removal of big tax breaks for private equity, oil and gas production and like kind real estate deal

because look at what nvidia has done year to date.pends on what you're looking for. america vidia has done very well it is up 60% plus year to date, and i think that one can still work i like it right now, and i like it for the long term qualcomm's a little different. qualcomm is well today and it's perceived as a smartphone play and anything touching smart phones, i said this before on air, but anything touching smartphones has been dead. but if you're looking at the recovery bill, qualcomm fits the bill they did not benefit from covid. they were just lousy the whole time i don't have a ton of demand like i have in pcs i think a lot of the weakness was due to china so china will re-open like that's actually a positive in the back half. qualcomm kind of put the bottom and they guided the march quarter flat and usually it would be down significantly seasonally and this tells you the bottom and we can argue when it starteds to pick up and it probably doesn't get much worse. they guided 215 in earnings and annualized a trough number and

and seeing the resurgence of nvidia. also, i mentioned $1.2 trillion infrastructure bill.hose contracts have been signed. many companies we speak to as i was in the states a few weeks ago are seeing the contracts come through in the second half of the year. underneath the volatility, they will play through and be de-rated. >> i have about 30 seconds. quickly, i know you are interested in a.i. chatgpt is a game changer? >> absolutely. gpu, graphic process unit, will power the back end. great for companies like nvidia and these are long-term names. >> i would love to have you come on again for a longer chat. we're squeezed on time today. i love to hear how your focus on the longer themes is still in tact. head of equities for mirabaud asset management. >>> a quick look at the futures. they are opening up in the green. that is it for the show. that is it for the show. my name is ashley cortez and i'm the founder of the stay beautiful foundation when i started in 2016 i would go to the post office and literally fill out each person's name on a label and now with shipstation we

been a good week for nvidia as well, mike >> it has.ou know, the morgan stanley upgrade almost admittedly is just a little bit of a belated chase. they were tactically negative on it they don't think there's a new catalyst it's just the opportunity being too big. yet, they're sort of, i guess, close your eyes and just pay up for it is the case right there that's one of those instances where, again, people go back to the familiar feeling of, we want to own the secular story, and we prefer not to have to worry about, you know, industrial production and weekly jobless claims and all the rest of it. there's sometimes an illusion of freedom, of just sort of believing in the big story and not having to worry about the immediate. >> i was watching williams sonoma, another earnings mover i like to talk about something that's not the banks they came out. it's a tough category right now. we know that americans aren't spending as much on their homes and furniture, and yet it was a pretty strong showing from williams sonoma. pottery barn was up on

we own and continue to buy nvidia.l from a software standpoint, it's tough to figure out who's going to be the winner software wise when it comes to artificial intelligence we know nvidia chips are really best when it comes to not just ai but also autonomous driving, gaming, all the biggest highest growth marks. stuart: nvidia has gone straight up. >> very good stock. stuart: thank you, mark, stay there. students protesting the dean at stanford law school, upset she apologized to a federal judge, his speech was disrupted by students when he tried to give the speech last week i think last month, they say their counter speech is free speech. got that? former education secretary bill bennett joins me. what happened at stanford was outrageous, why are universities standing up for free speech? >> the world is upside down, that's why. the institutions which are dedicated to free speech are not protecting them. by the way, whether be admitted to wellesley next. stuart: sarcasm is a wit but effective sometimes. go ahead. >> le

bristol-myers, halliburton, in nvidia, microsoft, palo alto network securities.. >> so microsoft, i was just talking to my friend buddy pal, what a kick butt situation there. that's chatgpt. we're going to let this go. even though they do overlap. why? because i've already committed to nvidia, own don't trade, so i can't go back on it. bristol-myers, yes, the drug company. i want to switch it out and put in eli lilly. palo alto, five years, what has he done other than mint money? fantastic cybersecurity and halliburton, a little down. we own this, too, for travel trust. i think halliburton is a double buy right here. let's take eric in tennessee. eric. >> hi, jim. this is eric from tennessee. my five stocks are dks, hsy, hershey, unh, united healthcare, dvn, devon, and waste management. am i diversified? >> wow. i'm in all of this portfolio. this is some really good work here. devon is a little down now, missed the quarter. dick's, talk about a blowout quarter retailers. waste management, i like that action above 160, looks pretty good and then hershey, amazing.

nvidia, your short is up 2.5%. >> to me, a short that doesn't concern me after a 113% move nvidia is the stock that when you have a trend in technology, everybody wants to own it. it was ai, it was crypto, it was gaming as i talk about big cap tech, qqq down 8% from that february 2 high if we think about the moves these markets have had -- and we're going to talk to carter about places outperforming technology -- i don't want to follow yesterday's trade going baa into mega cap tech you're doing that. this week i feel like bulls and bears could line up on both sides. bulls will say, i don't think the economy is that bad. i get equities may not be cheap here if we're not having a recession, the stock market had its move. if it's a reinvestigation, 42%, 43% move, nonrecessionary, 27% lower, which we had and got us back to october. >> julia, you think we cannot rely on yesterday's leadership at this point? >> some of these are value names like an alphabet. >> yeah, i think some of these names still hold value, and i think it's important to think about the drivers of the business and if t

if you like palantir, go forth and prosper. >> is sell nvidia april 21 ps 175 -- >> deeper money kuhlson't offer you much value i would not suggest calling those. if you're intent on selling something, maybe the 275,500 would be better. >> how does that chart look? >> steep, uncorrected, cwdroed things like that. >> bad >> sell or not sell, i would ing. it's an entire trading experience. with innovation that lets you customize interfaces, charts and orders to your style of trading. personalized education to expand your perspective. and a dedicated trade desk of expert-level support. that will push you to be even better. and just might change how you trade—forever. because once you experience thinkorswim® by td ameritrade ♪♪♪ there's no going back. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. good luck. td ameritrade, this is anna. hi anna, this position is all over the

nvidia was the 25th worst performer, cut in half. these stocks are now substantially off of their lows. they're doing great this year. they're leading, but if you had owned them the full 18 month/2 year period you haven't made that much headway. it can be chalked up to the starting point. if i gave you no information and said year to date, does the leadership tell you we're in a risk-off market, you would say yes. if you live in this market, you know that's not true. >> we're still watching the rally on wall street off the highs. nasdaq up 2%. s&p and the dow jones up just over a percent right now. >>> straight ahead, our "chart of the day." block getting crushed as a short seller takes aim. breaking down the fallout. >>> and we'll continue to monitor capitol hill as the monitor capitol hill as the tiktok ce teost power e*trade's easy-to-use tools like dynamic charting and risk-reward analysis help make trading feel effortless and its customizable scans with social sentiment help you find and unlock opportunities in the market with p

semiconductors, it's not just nvidia.ry stock except for one or two, is outperforming the s&p 500 so far this year. they're up four times more than the s&p 500. sentiment has gotten very weak. so every single person you talk to says look at what's going on. things are so negative. why isn't the market going down more. so when things are that negative and people are expecting one thing to happen, and the opposite happens, that's when you have to take that into account. so that's -- but tomorrow we have the fed. if the fed continues to overhike into the environment, that could cause problems down the road. >> you don't think they should pause? >> i think if you looked in a textbook, an economic textbook and you saw two of the three biggest bank failures in u.s. history, you saw the most volatile treasury markets since the '80s. record borrowing, and then you said the next paragraph is the fed would be aggressively raising. so what is the harm in waiting six weeks to see how this plays out to go forward and see? if you look

nvidia does a very good stuff. like literally every other word. >> i was in panama fishing, and then we went on, and the weather got a little bit nvidia. >> okay. >> it's the backbone of a lot of stuff. >> it's impossible to underestimate the fact that next year this time, things are going to be much smaller than it is now. >> what is this? the car? >> you know what. >> i am scared jim during the break about the power of it i. >> it's possible, and re mentioned i mentioned it with just be there, and it would say things smarter than i am, and it would use the same stupid philadelphia accent that i have, which took all weekend for me to create, and why me? >> looking at some of your tweets the last 48 hours, you said something has got to go down. >> people by semis without any regard for the market. don't think these companies are exempt. they are all up again today. i really like when stocks are down, and i like when fish get away, and i like when sharks bite the line, and i like nvidia to stick. >> we will talks on

on a name that he sees there's a lot of opportunity especially in the second half, especially in nvidia and semis that's a vote of confidence that there are places in the market that you can invest in it's not overall the broader market that you want to be invested in this year. you want to be a stock picker. you mention that the market is expensive, 1 times forward so many stocks, scott, that are not that expensive in the meantime the broader averages were in a trading range. we talked about this endlessly i thought it was interesting that after the unit labor cost number came out and inflation continues to be persistent, everyone is talking about more rate hikes this year all of a sudden more rate cuts next year. they're nowhere close to cutting. that's not even in the vicinity of their thinking at this point. >> for sure. >> we are all data dependent and the inflation numbers no matter what you're looking at, cpi, ppi, services x housing still too high and too hot that's why you're going to continue to have the fed very hawkish. i think it's very premature to start thinking about and

we own google, we own nvidia, we own microsoft. we trimmed nvidia a couple weeks ago. it's up 83%. the valuations of some of these companies are remnant to where we went back in the pandemic phase because investors are saying, we're going to see a slowdown let's go back to this playbook you know, we had some hiccups in the financial sector, so what is safe and yeah, these are safer companies, but when you're trading in a microsoft in the high 20s, same as apple, it's going to be hard you're going to corrode out other investments. that's where you have to be careful. we do own them but not in the size of the s&p 500, and if you made some profits, there are other areas of the market that hasn't performed five stocks in the s&p, i feel like this is deja vu all over again, that are riding the s&p when you have 490 stocks or so that are flat to down for the year >> so i guess when you say the valuations are stretched, you cite nvidia, which has come back dramatically, 83%, you say boy, they must have been super stretched three years ago. i mean, compared with where they were >> yes and

charles: nvidia i describe that as picks and shovels of the whole thing.. they will sell the tools to everyone. >> exactly. charles: what else are you looking at, keith? >> those are the biggies. defense is on the radar for a lot of reasons. right now i'm thinking how do i go beyond stocks? where do i look? what kinds of companies are growing to give me exposure? funny enough everything from wine into dinosaur juice, chevron, for example, still out there, breakthrough energy, great dividend. oil going up at a time when demand is increasing that to me is another one of these things if you're really interested protecting against inflation, you're a long-term investor it is very hard to miss. charles: all right, keith, thank you so much, my friend. great stuff as usual. congratulations on yet another winner the talk to you soon. >> you're very kind. charles: my takeaway how the left is going after really, this guy should be on the mount rushmore of progressism but howard schultz now, he is being treated as this century's robber baron. ♪. you'll always remembe

josh, nvidia is yours. this is a stock, i think, was able to surprise somewhat to the upside but estimates were very low. the street wasn't expecting much the stock had a really nice run. it's pulled back a limb bit with overall tech sector. i think this will be in the range. i'm long i've been long i'm not making any changes here because i do think this is not going to be about 2023 this is really going to be about the 2020s decade that's what i'm sticking around for. >> jenny, in terms of semis, not that you own these two names, you don't, you own two others, is the worst now behind the group, do you think? >> i think probably, but i think this reflects the conversation we've been having. you have to cherry pick. we sold amat around 100 and we were early there we added skyworks and i think you can pick on skyworks where you have it trading at 12 times earnings, an 11% cash be flow yield. they've said they expect there to be 75 billion wireless connected devices by 2025. you have the wind at the back of sk

and the stock has had a great week, nvidia.nvidia, of course, is the focus of it. everybody wants to talk about chatgpt iv. there's all sorts of things being done with it. yesterday, i saw a citi note that included, would it help figure out the diversity of a portfolio in an effective way? the answer seemed to be, yes. so, they're just starting to think about chatgpt's impact on things like portfolio diversity. >> right. >> what's your take on where nvidia stands right now in the week we have had? >> i don't think there's been a more staunch fan and believer in nvidia other than jensen huang. >> correct. >> so, i will say that at this point, what we need to see are earnings going up. i've seen that. we need the others to go. we need to see numbers. we need to see something. until we see those, i don't know why it keeps going higher and higher. right now, you're paying. let's put pen to paper and see how much they can make and at that point, there's a thing called rate hoppers, next the next gen, and you can put numbers on. righ