thanks, steve kovak. guy, what do you think of the quarter? >> yeah, i mean it is a great quarter. just looking at it direct sales were up 16 is% year-over-year that is very good. what concerns me, a couple of things the inventory build of 43% year-over-year, $9.3 billion that is not insignificant. they'll try to talk that away. but you have to take that into consideration. in stterms of the stock, that i where we topped out back in august before we cratered. so this is probably a level where it you've been long the stock for last month and a half, you take money off the table i'll say this though, quickly, at 28 times next year's numbers given the eps growth, it is not a valuation concern in my opinion. >> so i'll respond to that first. if you think about nike's pre-pandemic eps, excuse me, the p.e. multiple it was about 27 times on a five-year average what do you want to do maybe a debate, we're in a different rate environment and you don't deserve the pandemic one. i'll get back to the margin profile which was better than expected i think the fx dynamics in constant currency is

steve kovak first, get us through the metaverse meltdown. >> let's break down the year in the metaverse, kelly you have to start with meta, of course, the poster child of the metaverse. just a year ago mark zuckerberg bet his entire company on the metaverse concept. today shares are down about 65% on the year in part because investors aren't happy with the tens of billions of dollars lost trying to build an experiment that may or may not pay off for a decade if it ever pays off at all. this summer the internet had a good chuckle remember this one? over how bad meta's vision for the metaverse looks. this is zuckerberg's avatar selfie i played video games 20 years ago that looked better than what we're looking at right now. consumer interest is falling too. spending on vr headsets fell 2% this year to a little over a billion dollars. to put that in perspective, apple sells about $200 billion worth of iphones a year. the new metaverse headset debuted to poor reviews in october, but we won't get insight into sales until meta reports earnings likely end of next month but the tri is not givin

. >> steve, thank you very much for that microsoft is ready for war said steve kovak. there might be a reason why microsoft is ready for war because the track record from the federal trade commission as of late has not been good. they have not succeeded that purchase and i'll open this up to guy and why the muted reaction. >> the biggest gamer in the desk. >> i follow him on twitch. >> you say that in jest, i'm on the twitch because if the fates of microsoft rely mon this activision, then we're all in a bad -- to me this is a rounding error in my opinion for microsoft. so i don't think that is why you're seeing a stock reaction get the deal, not get the deal don't think it is moving the needle but the stock is down 30% from its all-time high this time last year and people are starting to care about valuation and at 23 times-ish, microsoft is still an expensive stock. >> dan, what do you think? >> is this a deal that -- >> let's talk about this. >> we started this year off and microsoft made this blockbuster $70 billion -- and it is actually a lot more than around. if y

steve kovak joins us with the cnbc money minute. >>> let's start with tesla. its stock hit a fresh two-year low. investors don't appear to be taking too much comfort from elon musk's promise to not sell tesla shares next year. he also says he probably won't do any selling in 2024. the stock fell after musk disclosed almost $4 billion of selling last week, bringing his total since late last year to $40 billion. $15 billion of that, by the way, came after he said in april he was done selling. also a wells fargo analyst is predicting that returning disney ceo bob iger could spin off companies to focus on marvel, "star wars," and pixar. >>> here's that tiktok story. auburn university is blocking tiktok on its wi-fi network after alabama's government banned the chinese-owned app on government networks and devices. back to you. >> all right, steve, thanks for answer that question. have a wonderful holiday, friend. >> happy holidays. >>> well, coming up, the growing humanitarian crisis at the southern border as wintery weather grips texas. how migrants are surviving

. >>> shares of facebook parent meta have been pummelled this year steve kovak joins us with the company'sat magic ball that tells us what's coming. >> let's break down the year in meta verse you have to start with meta because that's the poster child. just a year ago mark zuckerberg bet the entire company on the meta verse concept today shares of meta down 65% on the year, in part because investors are unhappy with the tens of billions of dollars lost trying to build an experiment that may not pay off for a decade if it ever does at all. the internet had a good chuckle over how bad meta's vision for the meta verse is. remember zuckerberg's avatar selfie i played video games 20 years ago that looked better than they are now. there are signs consumer interest is following. spending on vr headsets fell 2% to a little over $1 billion. to put that in perspective, apple sells about $200 billion worth of iphones every year. this is despite market leader meta launching a new $1500 headset to meta quest pro. the industry is not giving up. in february sony will start selling the new vr rig for and