so talk to if he's with tesla, since 2014, right? so he started and he was tasked as, as, as a person to build up the supercharger network in china and very soon became general manager. and then the last year he's been more widely known as that as the manager who, who kept dec effects to re shanghai open your it cove it right. so he sees a real and accomplish manager and tom to many people think, oh, is this a chinese not running tesla? now, on to hasn't bear international background, he's chinese born and he holds a new sealant passport. and he also did his and be at the renown university in the u. s. so in his previous jobs, he worked across the globe even in africa. so i do think that he, he brings the determination and the cultural background in order to make this new task successful. all right, that's a p to fennel they're from cap gemini. thank you very much. thank you very much. let's shift gears now with some other global business stories making news. apple shares slid nearly 4 percent on tuesday, meaning the company's market

tesla is the top position.n terms of the production goal, they mention, if you go back to 2020 there on track over a number of years to meet the 50% compound annual growth rate. the fears are margin and demand troubles, our research, the gross margins over time for , every cumulative doubling, you get a corresponded and reduction price. we also know they are unveiling a new vehicle platform which should be halfway across the model three. that could be a custom-built autonomous vehicle which will help margins. it will give a huge bump to margins. thomas platforms, the main story is ev is growing. gas powered cars are down 7%. that is what tesla is. i would be worried about traditional autos if anything. caroline: are you worried about the impact of elon musk himself on-demand? is it anything showing up in the demand erosion? >> is always been a controversial figure. we have to go by results. tesla grew sales by 40% year-over-year while in the same quarter, global auto sales were down. but so we have to go off of

the demand for tesla isn't going to go down any time soon. tesla is a major player still, and the manufacturer is other ones still have to catch up. and of course, this cut in prices probably will stoke more demand. that is because these prices have put the vehicles more of their vehicles into the threshold to get those tax credits. i was just talking about from the inflation reduction act. and that can be up to $7500.00. so consumers are certainly going to be looking towards the vehicles that will qualify for those tax credit to you. and mosque of course, was complaining about these guidelines. prior, i'm saying it's exclusive of test plus and other vehicle manufacturers, but the demand for test was, is down compared to years prior. and yes, we'll have to see whether these price cars actually are going to show up at that demand. well that bonus certainly does sound attractive. teddy auster, thanks so much for that. well, here in europe, inflation around 10 percent has hit people very hard. meanwhile in argentina, consumer price growth hit nearly 95 percent in 2022. that's the highest annual f

tesla? i'm to has some very international background. he's chinese bore and he holds a new sealant passport. and he also did his and be at the renowned duke university in the us. so in his previous jobs he worked across the globe even in africa. so i do think that he, he brings the determination and the cultural background in order to make this new task successful. all right, that's that peter fennel there from cap gemini. thank you very much. thank you very much. let's shift gears now with some of the global business stories making news. apple shares slid nearly 4 percent on tuesday meeting. the company's market value has plummeted. one trillion dollars over the past year, around a 3rd of its value latest losses follow use of production disruptions in china. the 1st shipment of liquefied natural gas has been delivered to one of germany's newly built terminals, the u. s. tanka maria energy arrived at the northern german porterville homes half on tuesday, where it shipment of l. n. g will be converted to gas at a special floating terminal

- demand for tesla. do you think you get another tesla? i - you get another tesla? i wouldn't.u get another tesla? i wouldn't. is at _ you get another tesla? i wouldn't. is at least - you get another tesla? i wouldn't. is at least onej wouldn't. is at least one consumer— wouldn't. is at least one consumer being - wouldn't. is at least one consumer being driven l wouldn't. is at least one - consumer being driven away. samira hussain, bbc news, new york. let's go to new york and speak to daniel ives from wedbush securities. the investor call after the release of the earnings, his guidance was going to be critical this time because he has lost the confidence of a lot of people?— has lost the confidence of a lot of people? yes, this was a moment of — lot of people? yes, this was a moment of truth _ lot of people? yes, this was a moment of truth and - lot of people? yes, this was a moment of truth and i - lot of people? yes, this was a moment of truth and i a - lot of people? yes, this was a | moment of truth and i a bright spot. investors liked what they saw. the man looks strong a

that is what tesla is. cracks are you worried in any way about the impact of elon musk himself with demand for tesla's going forward? question elon musk has always been a pretty controversial figure. we knew tesla grew sales by 40% year-over-year. in that same quarter, global sales were down roughly eight. that is what we have to go off of. he is a cult figure. we are happy that he is committed to tesla and sticking on for that. because i want to bring some more information about what you are talking about, tesla is talking about its next-generation vehicle platform under development. i want to bring it back to the here and now again. a lot of what tesla hinted at where the problems of 2024 were largely china related. it talked about production issues being centered on the shanghai plant. we at margins when they came in and the narrative on asp's, average selling price, we went to our audience and we did those price cuts in north america, europe and china. did he push you to consider buying a tesla? these a

welcome. tesla's share price has taken a tumble once again. this time dropping 12 percent on the new york stock exchange. it's yet more had news for a long mosques, car maker, which had a rough time last year. the value of the company's shares plummeted over 65 percent in 2022. the problem, at least in part, is that the company missed the expectations of investors. tesla sold 1300000 cars last year, more than ever before, but instead of 50 percent sales growth. sales increased by only 40 percent compared to the previous year. sale still went up, but investors worry. it could be the early signs of a slow down. meanwhile, reuters reports at the previous boss of teslas chinese operations. tom jew has been promoted to take care of the company's north american sales plants and distribution . a move that puts him 2nd only to elan himself. while we can hear more about this from yen quarter, who has more on this from new york? yes. tell us more about the reaction on wall street to tesla's results. it seems that they were quite disappointed. daniel, cl

i started selling puts in tesla.lishing a position. thank you to the folks on the other side of the options trade who said sign me we have the optimism to go back and fill about $180. yes, overnight, we did see tesla invest about $3.6 billioninto the gigafactory in nevada. and that isoptimistic and encouraging. i think a lot of people were looking for a buyback. tesla, elon musk is always the widecard i think this oversold condition, you're seeing the ability to look back. i'm going to have a tight leash on this stock. this is a trade, not an investment i'm going to be very considerate of what comes out. >> ibm plays in a similar space. what are you expecting from big blue after the bell? >> frank, you bring up a great point. this isn't a news flash. i think traders and investors globally have anticipated the price cuts, lower guidance, and even layoffs we saw that with microsoft look at the nasdaq last year it was the worst laggard of the major u.s. indices i think as you see the nasdaq try to come back to life, you

, tesla's cutting prices on some models up to 20 percent. the company recently lowered prices and china and japan due to sales problems as well. well, for more on this, let's bring and teddy austro, he's at the new york stock exchange for us now. teddy, hi, this is the 2nd price cut for testers. lower price models in 3 months. what did investors make of the news of this latest cut? well, chris, the investors aren't particularly happy. we saw the stock go down a little bit. however, investors haven't been particularly happy with tesla for the past several months. they are distrusting of tesla to really keep its market share of the e v. market to compete with all of these e v companies that are now springing up. but you know, it turned back to clock about a year and we are looking at fat profit margins. we are looking at a happy wall street. and now in 2022. what we are seeing is with the rising rates, with tesla, simply not meeting its sales targets, as well as the chaotic take over of twitter by you on must, which made investors fearful that

i repeated tesla's experience according to his diaries at his dacha.lls nikola the greatest genius of our civilization, whose invention was not appreciated. nikola tesla is right in every word, regardless of whether it is consistent with modern science or not, he is the one who 100 years ago controlled the boat by wireless. while the cowboy indians were chasing each other in the west at some point tesla realized he had gone too far. he said i don't work for the present anymore. now i will work for the future back in 1926, tesla predicted the advent of smartphones and said that in the future, people will carry handsets in their pockets. he has written about wireless technologies, unmanned vehicles and aircraft . he calculated the frequency of the earth's electromagnetic field, which official science confirmed only after 50 years and predicted a great future with a renewable energy source tesla was born on the territory of modern croatia, worked most of his life in the usa, but all his life he considered himself a patriot of serbia, just like modern. wou

is 40% of tesla sales. it is considered a key pillar of the bull case for the stock. reality is tesla is facing increasing still competition in china. it seems as though they are not able to keep pace. it is worth noting the most recent price cuts in china come days after cash subsidies for ev buyers offered by the chinese government expired that is a factor in the price adjustment they made the other thing, arabile, i would flag is it feels for the first time in years, that's is view -- tesla is viewed as an auto stock rather than a tech stock. >> that issing interesting in 2020 when the stock had risen as much as it had at that point in time as you speak about delivery in the china market, the rival byd had delivers of 234,000 in the month of december. it is really a difference in that market that i think tesla is asking how does it do better. the man in charge on that side, zhu has taken on a more intense role in trying to release a little more in terms of the vehicles and how do you focus that overall,

nikola tesla memorial day what does the figure of this inventor and thinker mean for the inhabitants of the country? today, orthodox believers celebrate one of the main church holidays, christmas , on this day, christmas time oni begins. will last until baptism in honor of the holiday , solemn services are held throughout the country. in moscow, hundreds of believers gathered in the temple that night. christ the savior and vladimir putin celebrated christmas in the kremlin's annunciation cathedral this morning , the president congratulated orthodox believers on the holiday, a telegram was published on the kremlin's website in his address. vladimir putin stressed that christmas helps support spiritual and moral values. in addition, he noted the special role of the russian orthodox church and other christian confessions in preserving the history of supporting the russian people and in particular the military, who participate in a special operation to protect the donbass about the history of the holiday, how it was met in russia by nikita korzun frost and the stars in the evening lights

and the second is nikola tesla.al airport, the largest aircraft in arserbia, is named after him. in honor of him, parents call nikola tens of thousands of little serbs, tesla's house-museum in belgrade is a place of pilgrimage for tourists from different countries, american schoolchildren are surprised to learn, that tesla is not elon musk's electric car, but a real person. nikola tesla is called the man who invented the 20th century, his invention was ahead of its time now. we probably can no longer imagine life without electricity. and, of course, we are all proud that tesla was a serb genius, hidden eccentric, with an exceptional memory and strange habits. nikola tesla has long become a cult figure in serbia, probably, there is no more mystified person in the world than rural scientists. nikola tesla associated with him there are so many legends of fiction that even biographers are confused. well, here in serbia he is considered a national hero who glorified this little balkan country to the whole world by the in

tesla is not the only company having this issue.n november, mercedes also cut prices significantly. earlier i caught up with the ceo of panasonic north america. they are the key supplier to battery cells to tesla. >> we're not that concerned about it right now. we're trying to provide the quantity and quality that tesla is looking for. we have 10 years of experience working with tesla which is been wonderful. as a japanese hundred years old company, working with tesla has been a wonderful learning experience. we also have a partnership with lucid and we are diversifying our contribution in ev battery for this market. where not worried, we are very excited. ed: that was a public comment from tesla's biggest so -- cell supplier saying she has other customers. what tesla is experiencing, everyone is experiencing. kriti: certainly something we are watching and that brought ev space. i have to ask to what extent is tesla indicative of the pain you're going to see in the broader tech index or is it doing its own thing? is it fair to group

tesla reports after the closing bell.e facing growing doubts about businesses of a series of price cuts on cars. the managing director of u.s. and european auto research at jefferies philippe houchois joins us now. he still has a buy rating on tesla. it is today going to be margins or volume? what is the key number for you? philippe: this will be the first test of the margin because we have seen deterioration in the fourth quarter. having said that, some of the q4 deliveries will be priced earlier, so this may not be the bad news. we will try to gauge the gross margin, but i think the number i am looking for is the cash flow because tesla has been building up inventory so that under delivered their production. they also have been building more inventory to supply cars as their business model of direct distribution matures. i think there is a bigger hit on cash flow than the consensus. we will see that gross margin but those are moving targets. but i am focusing on cash flow. guy: good morning. it is guy. you have a number

does tesla trade on a car company multiple or do car companies trade on a tesla multiple? or do the two meet in the middle? you look at the notes that you are reading about ferrari and the fact that it is a luggage -- luxury and technology company. the two are being combined. we just get to extremes, the car companies were too cheap and tesla was too expensive. ed: there is a lot to unpack that we will get when we get fourth-quarter earnings. when you look at the reaction to tesla cutting prices in the united states and europe and reinforcing the ability of the $7,500 credit for u.s. consumers through march and the reaction is that will impact the margin in the year term. when you get to earnings you factor into tesla deferred revenues from software and also tax credits that it sells -- or emed and credit that it sells to other automakers. they do not have that advantage and they are not able to lever that. there is a difference between a demand problem and demand-supply balance. this idea that tesla vehicles got expensive, much more expensive than two years ago so it is d

for tesla. also bullish for tesla elon musk on the call telling analysts his company may produce as many as 2 million the cars this year with demand at least right now out stripping supply listen to what he had to say >> thus far in january, we have seen the strongest orders year to date than ever in history we currently are seeing quarters almost twice the rate of production it's hard to say if that will continue, but orders are high. we actually raised the model y price in response to that. we think demand will be good despite probably contraction in the auto market as a whole >> it is not all good news for tesla. gross auto margins came in at 26%. lowest level in five quarters. musk warning that $2 million production number could be close to $800 million due to fricking force majeure somewhere on earth. musk thinks a chinese ev maker is the toughest competition in the years ahead. as for the tesla truck, look for the bottom line to hit in a very big way next year. >> big numbers there a rough

the profit margins at tesla are still very strong. fair, elon musk if he wanted to rebate everybody $10,000 out of his own pocket he could do that. so i don't see a huge cut to tesla's long-term profitability. there might be a short-term drop, but it's not going to be an organizationally threatening event. >> phil, how much pressure is tesla under to boost deliveries? >> they are under a fair amount of pressure from the standpoint of they have got four gig a factories worldwide, two in the u.s., the biggest in china and one in europe. so you have got factories in place with a manufacturing capacity of somewhere around 2 to 2.2 million vehicles. you don't want to -- if you have that capacity and you can use it, you want to use it and if you are tesla right now, you have the hammer, tyler you have the best-selling electric vehicle in the world with the model y, and it's in the sweet spot in terms of pricing relative to other vehicles if you are tesla and you can afford to take a hit on the automotive gross margins, so you drop them down

why didn't tesla lower their guidance? you had elon musk selling shares of his company when he had a clear look at what demand was like for the quarter. he unloads his stock and everyone else is holding the bag and they miss by several units and going into earnings, everyone is cutting their targets and everyone wants more conservative guidance for the year going forward. ed: we want to continue the conversation and stick with tesla with a chief futurist, we will get into the long-term call around tesla shortly but you were reaction to the fourth-quarter deliveries miss and the third consecutive miss for tesla. >> i think it's ironic you qualified as a miss when a company delivers 40% year on year growth against a market declining 8%. it's clear from our perspective that electric vehicles are going to become the dominant drivetrain for automotive over the next five years. we think there will be 60 million dvds sold in 2027 and tesla will take a plurality of that. they have a huge tailwind behind them. equities are priced o

it will be a delicate line that elon and tesla will have to tread here that is key again. keeping an eye on the auto margin which is a figure the market and wall street watches closely. >> you will join me again tomorrow >> i hope so. >> you have been here all week >> earnings season >> let's do it again arjun will join us later on. >>> the earnings news continue shares of ibm falling in trade despite beating on quarterly estimates. it will cut 3,900 jobs in the plan to diffivest assets. the cfo says they are still committed to hiring for research and development. >>> $663 million loss for the fourth quarter despite the rebound in aircraft sales for boeing the supply chain challenges weighed on results leaders were hesitant to ramp up on production. boeing reported the first positive cash flow since 2018. it expects to generate between $3 billion and $5 billion in free cash flow this year the ceo david calhoun told cnbc he is confident despite the bumpy year ahead >> the conversation about recession gets lost. you could get two recessions between here and then. i think the

and i think this tesla thing is in a way about more than tesla, right? because the missed delivery numbers brought the stock back down to around where it was at the lows last week and it raises questions about demand for teslas going forward, about inventory and what the impact is going to be on labor and production levels because that's the thing about this inventory built up do they need to keep making as many so many different companies not just in tech but throughout the economy might be asking the same question what if you start to get results in about two weeks, right on q4, how december actually ended up we don't know yet and we're not going to know exactly what tesla will do until we get the detailed numbers from them as well. >> it is not just tesla causing the pressure here. we're starting off 2023 much in the same way we saw 2022 that's what's under pressure it's tech. it's the nasdaq leading the way. but in 2021, we saw a lot of these pandemic darlings come back to earth. to start off this year, we're seeing tesla we're seeing apple decline t

of further discounting expected to come with tesla in the need to move tesla >> tesla fits into this group of stocks where i'm saying, they just don't make it for me this year >> i mean, if you can buy tesla at what really ends up being a 25 multiple or something like that based on 23 or 24 numbers, we can already look ahead to next year and the numbers. >> no, you're right. tesla is a bit of a better situation. >> it's a higher multiple. >> look, i just think there's -- we underestimated how much competition there was last year to cloud >> yeah. >> we underestimated how much competition there was to advertising. i don't want to under estimate how much there is to tev because i spend too much time with mary barra from gm and jim from ford. >> and then we haven't mentioned china where the growth opportunities for tesla is perhaps one of the most important parts of the overall company. obviously the shanghai plant, which was eye doll for a bit -- >> right. >> -- but how about -- >> and the domestic market there where they have a lot of competition as well. >> yes companies that are par

which should be bearish for tesla.he says he's not going to do it this way, how's he going to get the cash >> i think, you know, when you look at tesla, obviously, the last six months is like a perfect storm with interest rates going up, consumers, shutdowns. and so i think, i would say, look forward from here you know, if you start to put a peak on rates as you're going into mid2023, production starts to ramp up and obviously, the price cuts as conventioned might have had them gain some share here into the first quarter as they brought down inventories i think all of that tesla as a stock, as an investment fairly well, given that you probably saw us on the worst headlines in the last six months in terms of shutdowns, interest rates, and so we think things probably start to improve as you go through, especially into the back half of the year. >> the shares are still positive, despite him tweeting, no, that he's not going to go this route tim, what would your final comment here be to investors who are awaiting this repo

that's what makes tesla so interesting right now. toni, thanks so much good to see you. >> thanks for having me. >>> still to come we get earnings from our parent company comcast and master card and jetblue shares moving lower but that stock is up 27% this year we'll speak to the ceo exc exclusively. "techcheck" is just getting started. don't go away. dad, we got this. we got this. we got this. we got this. we got this. yay! we got this. we got this! life is for living. we got this! let's partner for all of it. edward jones ♪♪ for skin as alive as you are... don't settle for silver. harness the power of 7 moisturizers & 3 vitamins to smooth, heal, and moisturize your dry skin. gold bond. champion your skin. just look around. this digital age heal, and we're living in,ur dry skin. it's pretty unbelievable. problem is, not everyone's fully living in it. nobody should have to take a class or fill out a medical form on public wifi with a screen the size of your hand. home internet shouldn't be a luxury. everyone should have it and now a

you've got tesla, you've got apple. i'd love to hear your take on what's happening with apple right now. it's raised eyebrows in the last few months retesting, lows. i think one of the big questions is whether this is apple-specific, tech-specific, or a sign of what's to come for broader markets? >> where do i start? firstly, look, nothing's changed in terms of the outlook in terms of gross stocks. 've still got interest rates on the rise with apple there are a number of issues firstly, investors have an eye on the quarterly results december was pretty bad because of supply chain disruptions. it's all about china we saw restrictionings there which hampered production. then there were worker disruptions as a result of pay dispute and workers walking out. still that factory has not fully come back to full production it's back but not 100% that's had a huge estimate i would estimate between between 5 to $8 billion revenue. apple is now going to see a decline in revenue for the december quarter if you look back in october,

but people don't love the numbers that came out of tesla. why was that a shock to the 420,000 vehicles that they promised. >> is about expectations. this is a clear miss. elon musk spent the last earnings call talking about tesla was going to have an at big year and we saw on social media that the chief designer was at the delivery center helping to hand over the cars. everyone was expecting the numbers will be close to consensus with a misted it by a mile. even the own -- the company's own consensus. you can't be that way when you are this kind of a company in the s&p 500. people are expecting things to be better. the other thing is that over 34 thousand cars were quote unquote in transit. tesla is a big company and they had this logistical problem in terms of getting cars into the hands of customers at the end of every quarter. ed: third consecutive quarter of missing delivery estimates. the other thing that jumped out to me was that they didn't quite make that 50% average annual growth rate. a lot of analysts have cut price. what is the d

any heft, nobody is tesla. the i'm imitation because none of them look to go that far. it pretty darn discouraging. rivian down, fisker down, mikala lost 97.5 one, fraud leulent on. reliant down 94% lightning e motors down, lord town motors and future intelligent electrics down 97.7. i got to tell you something. that's nothing short of disgraceful. but it's exactly how wall street works. speculators were so chantransfid they would take risks and investments were thrilled to bring the garbage. they don't care. as long as there is money to be made of course, it wasn't just tesla. it was anything related to electric vehicles. i think i want to cut some of them down. charging stocks from 49 to 10. from 24 to 50. charging 64 to 12. all disasters. electric vehicle battery stocks are nightmares 13 132-7. the stocks coupled with the greed of those who funded them and then brought them public all combined to lose you fortunes if you stuck with their stocks. >> the house of pain. >> there are many reasons to lament the f

we'll talk to a former tesla board member about what elon musk needs do to get tesla back on track forget about twitter kelly, give us a check on the markets. >> hi everybody, we're starting off with much of what we saw one year ago in fact the s&p is about 1,000 points lower than it was back then kicked off 2022 in the red, so far in 2023 that way as well dow down about half the earlier declines nasdaq down nearly 1%. and that is despite decent gains. meta higher by almost 4%, but apple is weighing big time on tech and on the dow and across the market it is continuing its slide down 15% in a month, about 4% today and there is concerns that some of its products are seeing less in demand. so we're watching apple under 125. and as tyler mentioned, the big story we're watching, sam bankman-fried appearing in court. in fact let's get to kate rooney to explain what we're expecting to happen inside that courthouse >> and so former ftx ceo sam bankman-fried has entered the courthouse in lower manhattan and i'm told that he plans to 34r plead not guilty he is being chargesed with eight counts of

we saw names like apple and tesla.show you what's moving right now. >>> the house of representatives adjourning without a speak e after kevin maccarthy failed to win enough support with three votes. >>> and southwest airlines is hoping $300 worth of frequent flyer points will make up for 16,000 canceled flights over the holidays i heard 25,000 i thought that was a mistake go ahead and keep it >>> it's wednesday, january 4th 20rks 23 and "squawk box" begins right now. >>> good morning, everybody. welcome to wks on cnbc we're live from the nasdaq market site in times square. i'm becky quick along with andrew ross sorkin and joe kernen this morning we're looking at the u.s. equities. dow futures up by about 61 points, th

tesla's not alone. >> so, jim, let's talk about tesla in china, okay, because we know they have this market share here in the u.s. and i think melissa just mentioned the mustang price cut. they're making those cars in detroit here, but the cars that tesla are making in china, they have less than 10% market share over there and a lot of these local manufacturers are doing much better and i see no reason for that to change throw in what we just talked about, this geopolitical potential. our situation with china is not getting any better, but yet he's placing more and more emphasis on the market from a manufacturing standpoint, access to materials for batteries and also the demand for cars just seems pretty obvious this only gets worse before better in china. >> you know i've been saying kind of half tongue and cheek that tesla's a chinese car company. it really is the bulk of its production is there. and we think almost all its profits are generated there. and so you have all kinds of risks now in light of our earlier discussion about the warnings, but on top of that, you have repatria

have a good day seize the day take >> how many killings are we going to get from elon musk today, tesla made regular profits in the last three months of 2022 and $3.7 billion, and better yet musk himself put a spin on the business in the future and recent price cuts of surging and orders music into the investors years the stock is up and it is of 9 percent, that is 13 bucks higher for tesla is ox overall rally as a positive profits reports from several big names earlier today helping ande learned that in the last quarter of last year, the economy expanded an annual rate of 2.9 percent i will call that resilience and dow is up about 80, nasdaq is up about 125 we been keeping track of the rising gas prices and is still going up in the regular is not reach 350 a gallon and that is up 40 cents from one month ago and were also keeping track of playoffs, they keep coming in as well, ibm just announced 3900 job cuts and sap come the software company dropped 3000 and will president biden address seasons and he delivers a speech on how economic progress since he took office and we are told he wi

i know you had questions on teslas production pipeline. tesla could do to million cars a year.n it comes to production, how do you separate what elon musk says is going to happen or might happen from what is probably going to happen? >> there are two factors to that. typically whatever he says is going to happen you discount by months or years. under normal circumstances you would take his 2 million expectation and say they're going to fall short of that. formal guidance was 1.8 million vehicles. it was a little bit of a bizarre turn on the conference call. i think it is going to be closer to two. the new guidance is to million. normally you discount what he says. in this case and putting more weight into it. he also mentioned for this reason i think these price cuts are material. they will not have a spike in demand throughout the entire year. i think the are having an impact. it is said their orders are running two x what production rates are. that is not sustainable but they have pulled forward some demand. i suspect at the end of the day they will do around 2 million vehicl

o is tesla getting back into gear. the one seemingly unstoppable firm has been struggling to boost deliveries, but new figures show it may have turned a corner. i will ask if a law must say it's turning things around in jail. the, the side is already turning. business leaders say they're optimistic for the year. ahead, so why is the outlook suddenly so rosie and feeling powerless. south africans take to the streets to protest against years of rolling blackouts. is, is date of your business on robots in berlin. welcome to the program. good news for ellen, musk comic tesla. the company has beaten profit and sells expectations in his 4th quarter results while announcing that deliveries had increased over 30 percent year on year. the biggest shortly follow the companies announcement that it was investing over 3 and a half $1000000000.00 in adding to new factories to its complex in nevada, it also recently slashed the prices are his cars in the u. s. and europe, in an effort to boost deliveries serial on musk has also made

and mon tesla us other plans. so i think he is expected to our, strengthen our, the western market after his promot promotion. and, but one thing that deserve some attention is that the working cultures cried their friend between the u. s. in china. so whether or not he can continue his management or leadership style in western areas could be something that people to like, keep watching for now you to and i'd love your personal take on this much has been made of this idea of, you know, being 2nd in command to mask, especially at a time when mosque is very distracted by his foray into twitter. how significant do you think this move is? yeah, as you mentioned, like the timing of sues promotion is widely disguised because i many people believe that are ill on mars. a focus very much on twitter. so on test laws, investors are actually calling for a new ceo and just a couple of months before. and there is a rumor that on tom 2 is actually going to take that position. but at the time many dollars are, are, were skeptica

so i guess tesla will comes his dedication and efforts, and he is expected to probably boost the tesla revenue after a took the one to year. okay, why so he clearly an extremely hard worker and he's been in charge of china operations during a very difficult time. how do you think that experience could shape how he manages the north american of european markets? as we can see that in china, like under sue's leadership light on the shanghai like every bow this strongly after cove is like 1000 an are some sources in the car industry also said that the young highs factory performed the best. and mon tesla us other plans, so i think he is expected to our, strengthen our, the western market after his promot promotion. and, but one thing that deserve some attention is that the working cultures cried their friend between the u. s. in china. so whether or not he can continue his management or leadership style in western areas could be something that people to like keep watching for now you turn, i'd love your personal take on this much has been made of this idea of, you know, being 2nd in comma

tesla rebounds after cathie wood buys the dip.e dig into the bull and the bear case for the ev maker. generated tech. the next big thing in silicon valley. we discuss the risks and rewards for ai based platforms. but first, let us check in on those markets because it was a topsy-turvy sort of day. we saw a breakdown in the selloff after two days, the s&p 500 up. similar moves, the nasdaq. so, big tech managing to push higher in the face of what was pretty hawkish minutes coming out of the federal reserve. they were published at 2:00 p.m. today. it really felt as though many were caught offguard a little bit about the determination of the federal reserve to crack down on inflation. that took the wind out of the sales of the market. we managed to get a pickup in trade in the very last hours. this really seems to be more focusing on the data we got. slider inflation data is cooling. the beginning of trade. we also look at a very resilient jobs data. and that makes many cautious to really be buying into technology. and related stocks

people weren't buying tesla.ple were buying elon musk people were betting elon musk could be the next steve jobs, which has done amazing things for apple. now i think it's more question about elon musk as the leader of the company, whether tesla could be the next apple when steve jobs was running it. and it's just -- so i think that is outweighs a lot of things, which have been around the last couple of years. the management team is the biggest question now. >> that's interesting. makes a lot more curious about some of the upcoming lieutenants we're paying more attention to stephen, appreciate it we'll talk soon. thank you. >> thank you. >>> coming up, it's goldman sachs global energy and clean tech conference. oil and gas prices are nearly flat as warm weather up-ends worries of an acute energy shortage we'll talk with the -- the outlook with the ceo of cheniere energy >>> welcome back to "squawk on the street." the house of representatives once again reconvening without electing a speaker gop kevin mccarthy hav

earning season, can trallyon plus, stuck in reverse legacy auto makers stafter an announcement from tesla. >>> and we're just about ready to rap up the reveal of our 2023 traders' acronyms. one is looking at zen while the other is lusting after the limelight. how they're trading the new year coming up. i'm melissa lee. this is "fast money. >>> stocks erasing early losses. wells growing 3% j.p. morgan, bank of america, citi also ending day in the green coming even as the bank execs suggest it might not last. j.p. morgan stating its central case, and behind man expecting a slowdown to start in the mid to early part of this year. what should we take away from what we we heard today everybody is saying they're wanting down the hatches >> they are. we have been looking forward bank earnings for a while, and they came in line or beat revenue, net income. and really you're going to be laser focused on this nii number and the real question is, have these numbers started to peak? bank of america is top of the class in terms of loan book, but they shift from loan loss releases to provisionings. and

we'll look at tesla, how it is dealing with some competitors doing what tesla does, cutting the pricer electric vehicles after this. ♪. the "good news of the week." and, boy, do we need it. [ chuckles ] well, this safe driver saved money with the snapshot app from progressive. -how do you feel? -um, good? he's better than good. he got rewarded for driving safe and driving less. sorry, barb, just to confirm, this is the feel-good news of the week? this is what we found. -yay, snapshot! ♪. neil: you know folks stealing cars, that has gotten to be a big business right now across much of the northeast, i'm told across the country. right now just as all this is going on, state farm, progressive are not writing policies for certain car models. i believe. gerri willis is here to explain. kia, hyundai models because they don't have anti-theft device. >> anti-theft devices are common in cars, particularly with the push brought ton starts, some of the cars on the road for a while don't have it. they are easily stolen. rising crime is creating unintended consequences for drivers, with auto theft

tesla will allow you to adapt the non-tesla to a tesla charger that could be a great thing.hour. i still have videotapes in case you need them. neil: vhs how you do that. the vehicle there, you have people parking where they shouldn't. they shouldn't. so that charger is not doing any good, right? >> reporter: if you park and you charge, you don't have to pay for parking. so that is a positive, some people, as you know, god forbid somebody in new york would park in illegal parking space. it is crazy but they do it. neil: i have never heard of that in the city that anyone would dare do that. jeff flock, great seeing you my friend. jeff flock in the middle of all of that. there is another incentive they get you with, tax incentive $7500 a speak to buy one of these things. we heard west virginia joe manchin not keen on keeping tax credits going. we have alliance for automotive innovation, president and ceo. john, does the ev industry need those tax credits? it seems to do very well, more than half are sold without it but what do you think? >> what you're seeing right now is prod

and diana is coming up. >>> and yes, we'll talk tesla.ed the mark on deliveries shares down 12%. at what point is tesla worth your money we'll talk about it coming up. >> announcer: get your prad trades to go with a "fast money" podcast. follow today on your favorite podcasting app we're back right after this. ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. >>> welcome back hope you're having a good tuesday. happy trading new year not so happy for the markets get another check. don't commit the messenger stocks kicked off the year like last year. which is in the red. the nasdaq was off .7% and the dow down 10 points and we'll call that a win. they tried to stage a late-day come back but could not.

the weaker groups like tesla the two names to point out, apple and tesla. the mega caps are weighing heavily on the markets today tesla is down almost 12% apple is down another 4%, picking up where they left off last year in terms of the selling. coming up, we're going to talk about much more shows in terms of the stock having a lot more room to fall plus former federal reserve vice chair roger ferguson will join us ahead of the key economics today. time to kick it off with the market dashboard senior markets commentator mike santoli on the market. it was interesting to see the losers catch a little bit, but then still a big fallout for tesla and apple. >> for some degree, that's a phenomena. as you allude to, sara, they're fighting this trench war around 3800 from mid-december till now. essentially every single day, the low of the day has been 3800 plus or minus 1% i am not sure that's significant. value over growth, you have a couple of nasdaq giants being dismantled almost every day around you're stuck with this sort of same deal. you have the long-term

elite along the coast had a tesla.ow he has been picked with jared kushner at the world cup i wonder if the early adopt afters, people on the coast, whether their appetite for tesla based on their view of elon musk will change and if it has a big impact on the broader market thinks about the company >> that is certainly a big question because in general, tesla was tapping into the demographic. it was left on twitter showing someone leaning to the rightseag out with republicans whether or not that chtranslates to sales, but that is one to watch. the stock has been under pressure >>> speaking of the republican party, that party is set to take control of the house of representatives with the new congress the party house leader faces a fight to be named speaker later today. ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even

that is tesla. particularly at a time where the macroeconomics back drop is a lot more difficult december deliver -- sorry, fourth quarter deliveries for december for tesla missed expectations against the macro back drop. also there is intense competition in the ev markets. not only from startups, but from china. there hasn't been a new tesla model on the market for a while. other startups are throwing model ns into the market and yo see that tesla has to cut prices the price cuts are not a bad thing. i think tesla is playing a game. we'll take the short-term margin hit to increase share of the market and over the long term, that should help maintain leadership position it is getting harder and harder and investors want elon musk to take his attention away from twitter and lawsuit and back on tesla and figure out how to get the automaker back on the road forward. >> very difficult. the thing that got him trouble here is the thing he bought. you speak about the competition in the asian front lowering

tesla a distraction away from the forecast, which is still in relation to tesla as well. how significant and important is it that these earnings show the kind of direction that tesla is looking to head down toward considering that they've had all these price cuts that they've looked toward, losing a sense of premiumship, if you want to call it too. >> it will be one of the most important earnings reports in history. it's been at a crossroads. it's had a year of a boon of growth more intense competition than ever, and you've got elon musk distracted left, right, and center with a case with twitter and with other things as well. that's very concerning to investors. they'll want to hear from elon musk and management that the company's on the right track, that elon musk has all his eggs in the basket of tesla and is very much focused on making tesla, which is really the crown jewel of his empire, a company that would withstand this tough period and could reignite growth as well. we know q4 missed expectations the market expecting revenue of $4 billion 457 y it's expecting 1.1