>> the stock can move higher without apple but to state the obvious, it's a big chunk. 's certainly going to help if apple participates but i think the reality is apple along with the rest of the stock market is still to a large extent hostage. >> so what does that mean? sound bite-driven trading? >> i think it is sound bite-driven trading. it's still in the mid to high teens. people have taken this in stride. i think the reason if that is there's an expectation that a deal will be struck. i think that's the right answer and probably the most likely scenario, but the risk is if it as not struck, the market not ready for that event. >> what's the best place to look for teenlt then right now. >> you know, right now i think we're seeing the best opportunity outside the united states. this has been the case now for a few months. if you look at the marked, since the end of august, through the end of november, u.s. stocks are up about 1%. international stocks are about 5 5.5%. you've got slow growth in china and continuingi issues in europ. the s&p trade is a little over two t

the impact of apple on life in america is well established by any standard. they have changed our electronics and our culture and whether you're the owner of apple products or not, you've got to admit that much. as much as any company can be about one guy, apple was steve jobs. and now that steve jobs is gone, apple is run by tim cook. he hasn't talked a whole lot about his life or his business. he certainly hasn't done so on television until now. apple is famously secretively and while it took months of meetings and negotiations, tim cook agreed to be interviewed and we met up at one of the places apple has transformed. nobody remembers the guy who came after thomas edison. and nobody seems to recognize tim cook as we walked together across the teeming floor of grand central station. i like being anonymous. >> as we walk, we're surrounded by examples of what apple has done to our society, both good and bad. people now live their lives while listening to the communicating with members of >> and who else would have us believe they intend to be the one company t

america" label is the latest thing from apple. the silicon valley giant is aboo spend millions to begin makg computers in the >>> a made in america label is the latest thing from apple. about to spend millions of dollars to begin making computers in the united states. len ramirez on how the company is trying to tap into a hot new consumer trend. >> reporter: apple fans love their iphones. ever look at the fine print? it says designed by apple in california, assembled in china. all apple products are made in china. that's about to change. ceo tim cook announced starting next year one line of computers will be designed and built in the usa. >> i think it's a big surprise. >> reporter: cnet says with one line of macs and not the iphone or ipad, apple is not taking a huge risk. >> for apple to say this is something they want to do that they want to manufacture here in the united states, it's a big deal. it's a big differentiate tore for this company. >> reporter: this is the image that apple likes to show. that has been tarnished by sw

apple has the cool factor, apple will have products in the pipeline, apple will deliver? >> there's a few things going on there. the pe side there's not much incompetent kremtal down side because of the cash they're generating. in terms of the technical side, i'm a fundamental analyst and did a lot of calls with analysts there. i feel like a got a master's on technical analysis based on an earful from technical investors. that's a big earful. that's a huge issue on investor's minds. that would say the stock can dip back to 500. that's a multiple day event. the fundamentals are strong. two of the topics that people are talking about, the digitimes and at&t, both of those comments had very positive things to say about apple that people looked through. >> gene, it's tim. there's positive things being said about microsoft and google. when you look at alternative operating systems, whether it's microsoft and their own hardware, this to me is the issue and has always been their issue, they're not going to be able to stave off hardware which becomes indistinguishable. and when yo

the focus is on apple. there seems to be a little bit of enthusiasm that it can come back to the up side. >> we were up a little while ago, now we're down. i think what happened, the senate majority leader harry reid came out with a couple of comments. he said any program, any deal that's out there must include a stimulus component -- really? a stimulus component? he said rates have to increase to 39.6% as part of any deal. the dow drifted lower on that because people were arguing you should have a 37% as a compromise on the tax rates. >> mr. geithner yesterday when speaking exclusively to steve leisman seemed to really avoid that 39% number. that encouraged a lot of people thinking that perhaps that is a flexible number. >> let's hope it is. but the senate majority leader says -- specifically said 39.6. i think that's specifically the reason we took a little bit of a dive a while ago. either side are positive or negative. but i want to note, tech stocks are doing a little bit better overall. the s&p tech in

the story on apple is changing a little bit. this is a company that prior to the last two quarters had eps growth at 60% a year on average for ten quarters. eps growth the last two quarters has been in the 20s. that's still stellar particularly for a company that has 1 ii $00 billion in revenue. but the story is changing. it's going from a hypergrowth story to what i think is a premium branded consumer company. this is a company like a louis vuitton or like bmw or like nike that has a very strong consumer franchise. they make premium product. people are loyal to that brand and they buy what it has. so i think this story is changing. off of $200 billion revenue base, it's very, very difficult to reaction sell rate growth to the kinds of levels we've seen before. i just think that's math and there's nothing that will enable and toll get there. there's no market big enough. now that said, i think there are several opportunities for apple to incrementally continue reasonable growth. certainly doing something in the television space.

apple projected. there are open questions on the pro and con side of apple but the most important ones, these questions can apple ramp iphone supply ahead of the quarter and will depend be there for the smaller ipads in the face of competition from amazon and google? seems like those are going apple's way, scott. >> all right, john, can't overstate the sell-off, it's been surprising to many, traders have been surprised. joe terranova you made a deft move and told us you sold 25% of the position that you took on the day you called apple a generational buy. >> and a lot of the reasoning behind shaving the position had nothing to do with the fundamentals of apple. it had more to do with the frustrations of i think the market is feeling with the fiscal cliff. it is a proxy for the market. i said to stephanie before i thought jim cramer made a compelling argument and explanation on exactly what is going on with apple. i don't think it has anything to do with the fundamentals of apple. it is an economic issue, between financial advisers, accountants. >> you think this is end of year selling, nothing more tha

where were the apple ads? g galaxy phone he was everywhe everywhere, so was the microsoft tablet. nearly 200 below the high, the question stands, is apple still king? good question. google is it on the attack and telling apple to get lost, almost literally. and there's a new app which puts google maps back on the ipad, goodbye apple happens. hipocracy keeps coming after you. warren buffett's berkshire hathaway's buying back stock why? to' void taxes increases, warren was rooting for, and an estate tax he himself will not pay. are you getting tired of this? "varney & company" is about to begin. from the best players in history to the number 1 club in the world. the potential of manchester united unlocked. nyse euronext. unlocking the world's potential. >> ♪ ♪ >> you've got to say he's still the greatest, isn't he? eric clapton performing at the 12-12-12 concert to benefit the victims of hurricane sandy. the event went on five hours and a ton of money. 36 million alone in ticket sales and does not count the donat

jobs is a tough act to follow, but cook celebrated his first anniversary at the apple helm just as theny's market capitalization had topped $623 billion. that mark, obtained on august 20, 2012, made apple the most valuable listed company of all time, breaking the previous record set in 1999 by long-term rival microsoft. [ticking] coming up, how the ipad is helping the autism community. >> he's completely communicating. >> absolutely. he's part of the community. i mean, communication is the essence of being human, and here he is, communicating fully now. >> apps for autism, when 60 minutes on cnbc returns. bob, these projections... they're... optimistic. productivity up, costs down, time to market reduced... those are good things. upstairs, they will see fantasy. not fantasy... logistics. ups came in, analyzed our supply chain, inventory systems... ups? ups. not fantasy? who would have thought? i did. we did, bob. we did. got it. as part of a heart healthy diet. that's true. ...but you still have to go to the gym. ♪ the one and only, cheerios ...but you still have to go to the gym. is b

apple. but i know you're only asking the question because you want to sell apple. i ask them if you know the multiple, they say all i want you to do is bless the sale. i'm just out there shopping. i go to j. crew today. >> i'm at that building often times, i walk by that store. >> i got 30% off a coat. you got to get in there, i got 30% off a coat i was willing to pay full price for. people are truly perplexed about what the stock is, where it got to, what do you do with it? >> you can come up with a million reasons here, it's manufacturing, maybe it is manufacturing, but is there really a demand question about apple's products that is a real one? >> not in the u.s., but there could be some questions about china, remember that report from steve milanovich? he said apple needs to come up within some real innovations, you need to have some clarity on the pipeline, and you need geographic -- clearance to go into china? yes, it got it with two of the smaller carriers. china confirms talks with apple. but the problem here, he says tech is not an issue, it's mainly about

the apple really did come from the orchard.y. i want to talk to you. do you know what the word habit means? not exactly. well, let me try and explain it. a habit is a pattern of behavior. you do something over and over again and you form a habit. you mean like doing my chores every morning. yes. i understand. well, when you do your chores right, you're forming a good habit, but when you tell lies, you're forming a very bad habit. now i want you to understand me. this habit that you've developed of telling these whoppers as you call them, has got to be broken. and right now. or else i shall have to ask your father to take a hand in it, and you know what that means. used in the right way. the way authors do in books. it can take you to another world, a world that exists only in somebody's mind. yes sir. like robinson crusoe exactly. but when daniel defoe wrote robinson crusoe, he wasn't trying to hurt anybody was he? no sir. now suppose he'd used his imagination in another way and written a book saying that your friend flip was a

jobs is a tough act to follow, but cook celebrated his first anniversary at the apple helm just as theny's market capitalization had topped $623 billion. that mark, obtained on august 20, 2012, made apple the most valuable listed company of all time, breaking the previous record set in 1999 by long-term rival microsoft. [ticking] coming up, how the ipad is helping the autism community. >> he's completely communicating. >> absolutely. he's part of the community. i mean, communication is the essence of being human, and here he is, communicating fully now. >> apps for autism, when 60 minutes on cnbc returns. to the best vacation spot on earth. (all) the gulf! it doesn't matter which of our great states folks visit. mississippi, alabama, louisiana or florida, they're gonna love it. shaul, your alabama hospitality is incredible. thanks, karen. love your mississippi outdoors. i vote for your florida beaches, dawn. bill, this louisiana seafood is delicious. we're having such a great year on the gulf, we've decided to put aside our rivalry. now is the perfect time to visit anyone of our states

the world. that is not going to change whether it's apple or any other company. with qualcomm you get the intel of the mobile computing era. intel just crossed below a hundred million dollar mark. qualcomm passed it on the way up. i think that damage you're seeing in that stock today is way over done given the fact that they benefit from apple losing competitive position, or gaining. they're in every device. >> that stock, many of the components of any of the apple products are getting ripped today. qualcomm has come off its worst levels but still down 4%. one big box retailer is making a big move today. brian sullivan is at the market flash desk with those details. what's up? >> well, it's best buy and it is making the move opposite to what it made yesterday and earlier in the week. here's the news. look at the stock down almost 15%. ouch. it is now reported, remember we talked about how richard shoals the founder may be coming in with a bid to buy the company and take it between $5 billion and $6 billion? now it is reported best buy has amended his time to make

jobs is a tough act to follow, but cook celebrated his first anniversary at the apple helm just as theompany's market capitalization had topped $623 billion. that mark, obtained on august 20, 2012, made apple the most valuable listed company of all time, breaking the previous record set in 1999 by long-term rival microsoft. [ticking] coming up, how the ipad is helping the autism community. >> he's completely communicating. >> absolutely. he's part of the community. i mean, communication is the essence of being human, and here he is, communicating fully now. >> apps for autism, when 60 minutes on cnbc returns. wooohooo....hahaahahaha! oh...there you go. wooohooo....hahaahahaha! i'm gonna stand up to her! no you're not. i know. you know ronny folks who save hundreds of dollars switching to geico sure are happy. how happy are they jimmy? happier than a witch in a broom factory. get happy. get geico. fifteen minutes could save you fifteen percent or more. when you take a closer look... ...at the best schools in the world... ...you see they all have something very interesting in common. the

jobs is a tough act to follow, but cook celebrated his first anniversary at the apple helm just as the's market capitalization had topped $623 billion. that mark, obtained on august 20, 2012, made apple the most valuable listed company of all time, breaking the previous record set in 1999 by long-term rival microsoft. [ticking] coming up, how the ipad is helping the autism community. >> he's completely communicating. >> absolutely. he's part of the community. i mean, communication is the essence of being human, and here he is, communicating fully now. >> apps for autism, when 60 minutes on cnbc returns. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. it's another reason more

that seems so 2012, to be talking about when the apple tv is coming in. pecially now that we hear it could be 2014. i mean, listen. here's the thing. this company just refreshed, almost their entire product line. if we're going to hear about when the apple tv launch, if that's the next catalyst for the stock, this stock's got a lot of problems in my opinion. i would have loved to have asked him where the next thing is where he can actually adjust his estimates higher. >> you think the holiday season will come and goal -- >> slimmer margins. even after the refresh, slimmer maher ask g margins. iphone, you have one choice. android phone, you have a choice, anything that fits you. you don't have to fit them. >> okay. got to take a break here. >>> coming up next, the pops and drops you may have missed. >>> and later, consumers and the cliff. danny meyer stops by with his take on the company and how he is preparing for 2013. >>> welcome back to "fast money." netflix was a big gainer today. more than 5% gain after morgan stanley raised its prit target on the com

jobs is a tough act to follow, but cook celebrated his first anniversary at the apple helm just as the company's market capitalization had topped $623 billion. that mark, obtained on august 20, 2012, made apple the most valuable listed company of all time, breaking the previous record set in 1999 by long-term rival microsoft. [ticking] coming up, how the ipad is helping the autism community. >> he's completely communicating. >> absolutely. he's part of the community. i mean, communication is the essence of being human, and here he is, communicating fully now. >> apps for autism, when 60 minutes on cnbc returns. [ male announcer ] citi turns 200 this year. in that time there've been some good days. and some difficult ones. but, through it all, we've persevered, supporting some of the biggest ideas in modern history. so why should our anniversary matter to you? because for 200 years, we've been helping ideas move from ambition to achievement. and the next great idea could be yours. ♪ and the next great idea could be yours. ...so as you can see, geico's customer satisfaction is at 97%. mm

for the record, this is insane. apple'sory, the story about the shareholders, not the products. it is driven by the chart, not the financials. it's a tale of fear, not of opportunity. >> the house of pleasure. >> right now apple's all about the basics of what i fret about when it comes to investing. individuals who don't know what they own, who don't know how to value a stock and can't think straight because alas, their stock's going down when apple's going up. it was a stock to buy. now it's going down, it's a stock to sell! >> sell, sell, sell! >> the tax code says sell apple. if you own it in a taxable account, i feel you've been given a fantastic opportunity to pay a lower tax rate on your profits than you will in a few weeks time. given that i think many people own apple in their taxable or "mad money" accounts, it might be uniquely in the cross hairs of the fiscal cliff. you combine the greatest capital gains generator out there of all time with a change of tax code of uncertain proportions, it's almost impossible to

jobs is a tough act to follow, but cook celebrated his first anniversary at the apple helm just as theket capitalization had topped $623 billion. that mark, obtained on august 20, 2012, made apple the most valuable listed company of all time, breaking the previous record set in 1999 by long-term rival microsoft. [ticking] coming up, how the ipad is helping the autism community. >> he's completely communicating. >> absolutely. he's part of the community. i mean, communication is the essence of being human, and here he is, communicating fully now. >> apps for autism, when 60 minutes on cnbc returns. twins. i didn't see them coming. i have obligations. cute obligations, but obligations. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing

macs are making their way back to the u.s. apple ceo tim cook told bloomberg this week the company will begin manufacturing a line of mac computers in the u.s. most of apple's products are made in asia. factories such as foxconn, a major apple supplier, have come under heavy scrutiny for low wages and poor working conditions. cook said the company will spend $100 million on the manufacturing move in the states, but no word yet on where it will take place. in other apple news, the iphone is getting picked up by another carrier. t-mobile will begin selling the iphone next year. talks are back in the fiscal fight. according to the wall street journal, the staffs for president obama and house speaker boehner are talking again. it follows a nearly week-long silence. wednesday, the presdient and congressman boenher spoke by phone. on thursday, the president said he was optimistic a deal would get done as he sat down with a middle-class family in virginia to promote his tax plan new jersey governor chris christie is making a pitch to washi

the price to earnings multiple, the apples to apples method so to speak will be the lowest in the whole&p 500. that can and is happening. valuation will get so cheap that apple will be too compelling for informed people not to own. the company's not going to sell through all of the cash and respective cash and this company is one gigantic atm machine. and guess what? the chart with the nauseating terminology will be meaningless at that point. the technology, not the technicals will again matter. so sellers, keep all that in mind. right now the calendar, the chart, the tax codes all are against the stock. four weeks from now, they're in your favor. to me, that says it might be too late to sell. and if apple dips below $500 again, it's -- >> buy, buy, buy! >> caller: hey, jim, i'm curious about how you feel about the great, efficient service company netflix since the disney licensing agreement. >> welm, i was surprised. this wasn't necessarily something that great for netflix, but people said, you know what? there's a pulse in netflix, it's not dying, and the shorts panicked and the stock

the volatility in apple is extremely high. not just that, i believe it is approaching record levels at this point. >> it is. i think the thing that you should be thinking about here is a really good example. i was looking earlier this week, when the stock was $550 the jan 550 call was like a 7% buy. you can sell that for almost 7% of the stock price. that is staggering. you can sell straddle for 14%. those are huge, huge swings in the value of this enterprise. >> one of the things we were talking about the cliff, i want to look at december and isolate this time period. i think there's more room to go. the technical set up like scott said, the momentum is broken and it is lower. to me when you look at 500 that low from november 16th was 505. there is nothing below that until 450. this could start to crescendo. to mike's point, i do not want to play with apple options. the premiums are too high. you will not make money on a directional basis. buying short dated options. >> what are you using? >> a put spread. i want to use the qq

the ones who are getting in late or losing. apple is losing market share, most recently with the tablet perhaps with the iphone as well, we will have to wait and see. there will be big winners and big losers as regards to this shift for these shifts taking place. do you separate out the winners and losers or do you think it is a bad bet right now? >> we whittle it down to the worst 150 names out of that. david: is apple among them? >> no. liz: what are you shortening outside of technology? some consumer names yo new film might not be appropriate for 2013? >> the luxury space is extremely crowded, we were short tiffany's, fossil. we have been short them most of the year. liz: you can see that was a real win for you, how did you know? >> there have been a lot of pushes going forward. david: we talk about financials with nicole, bank of america, we saw this big bump, unfortunately a lot of that is because they're cutting back. what do you see that the market is just now catching up with. >> this goes back to a function of rotation. they

a mixed week for the indices, the dow industrials, which does not include apple, gained 1% for the week. with apple, the nasdaq fell 1.1%. and the s&p 500 eeked out a 0.01% gain since last friday. >> susie: one hundred of the small businesses behind the job growth we're seeing, were honored last night in washington, with inc magazine's "hire power" awards. the businesses span the country, and cross an array of sectors. sylvia hall met with three of the winners to talk about their businesses, and the one thing they have in common: success. >> reporter: they work in different states, and in completely different fields. but together, these c.e.o.s have added more than 1,500 jobs to the nation's economy over the past three years. this is mike derheim, who heads a minnesota tech firm; sharon virts mozer, whose virginia- based company runs administration for the federal government, and karl schledwitz of memphis, who's turned jerky and hot dogs into opportunity. seems to be i' kind of a mature business. how do you find growth there. >> the actual space is growing. there are snacks, beef jerky

the culprit is a familiar name, apple. the stock has now lost 27% of its value in just three months. it hit a ten-month low today, closing near the lows of the session. what is the next stop for america's favorite stock? let's get in the money. dan, this has to be more than tax selling at this point? >> we've been talking about it for weeks, almost month. really since september 21st when they introduced the iphone 5. at some point it had to do with people booking profits. we saw a trade out of big year-to-date rim mers. this is a story in and of itself. throw a dart this week for the reasons why it's going down. a lot has to do with the self fulfilling prophesy it's not working anymore. it's worked so long, it's not working anymore. i think the street is starting to come around. the idea that earnings are going to stall here. >> right now it's a fundamental question when it comes to this to be. we have steve mill lon vich coming out questioning whether apple will continue to have the innovation necessary and the geographic

stick around for the apple trade in the back half of this hour. stay tuned. [ male announcer ] when this hotel added aflac to provide a better benefits package... oahhh! [ male announcer ] it made a big splash with the employees. [ duck yelling ] [ male announcer ] find out more at... [ duck ] aflac! [ male announcer ] ...forbusiness.com. ♪ ha ha! >>> one of my next guests thinks that going over the fiscal cliff would be a good thing for wall street. the other says defense cuts would pose an unacceptable risk to the economy, national security, and her company. she is ceo and vice chairman of rti national metals. and howard dean should be joining us any minute now. in the meantime, thank you so much for joining us today, dawn. tell us exactly how going over the fiscal cliff would impact the defense industry. >> well, the fiscal cliff would just be something that would be disastrous for defense. what you have are all these cuts of sequestration that are not tied to any national security plan or program. these would just be across the board with no p

we'll find out what happens to the price of apple stock when the market opens in the next half hour. it fell $37 a share to close at $538 yesterday. largest single day percentage drop in four years. apple is still way up from the start of the year when it was $411. it did hit $700 at one point. if you bought then, you are looking -- >>> traffic and weather together next. san mateo bridge sparse on one side and busy on the other. sue will tell you more about the traffic. mike will tell you more about the forecast. >>> abc7 news goes inside the coliseum to find out how much popcorn, hot dogs, nachos and soda it takes to keep fans filled up. >> yum! . >>> welcome back. 6:09. live doppler not showing any organized areas of rain but it is misty outside that's why we saw drops on our cameras. visibilities are improving lowest only six miles per hour livermore. horizontal visibility is good, clouds are so low soap moisture in the air that we are -- so much moisture in the air that we are dealing with low ceilings. winds picking up out of the west, keeping moisture feed in and why it is so bu

the dow is down 11. now this. apple, that is the stock of the day. mical, because i think it does come back, its $11 loss. >> reporter: at antelope. not too far off that unchains line. buying an apple back. not necessarily this morning. it looks like some people did that. stuart: down today, but not that much at this moment. i say this stock is down because people are selling to take that profit this year at a lower profit tax rate and there will be in place next year. you say what? >> that is probably one of the reasons. there is also just some worry that maybe apple has lost its competitive edge in there are some technical reasons. a whole variety of reasons. selling began selling. sometimes it becomes a proverbial snowball. stuart: most of our viewers, anyone with money in mutual fund would be feeling this because most mutual funds would have little apple in them. >> ado about a dozen portfolio reviews a week. every find, i don't care what the name is, it has ample and there..3 everyone is holding apple watching this right now. stuart: does that re

now we're in the point where price point is under $6,000. apple to decide whether to chase that market or focus on the high end products. if it does that it doesn't get the growth people are looking for. >> what about just the stock here? i mean, based on the earnings and revenue projections for the next year and the next two years, do you want to buy this stock here or not? >> personally not. i think the eps has probably locked in a range of $50 to $55. i think the growth will be single digits 18 to 24 months out. then it depends how you treat the cash. but most mobile phone companies only get around eight times earnings. >> meantime, brian, your price target is what $1,039? right? >> no. my target is $770. we're not that bullish on the stock. you're right. puts a good multiple on it right now. they already have $130 per share on the balance sheet. layer an apple tv on top of that which we think could provide growth as it happens on the iphone. we think it's a good value story. and right now we think you have to assume the iphone is dead at this

there is the store in the world that is coin to do at flex payment even if you go to the apple store will not let you leave the for $300 and change. one more thing is that even though flexplay man is only good right now and after i am done remember that it also 12 months of no interest if you use your hsn carter mastercard to make this purchase today you can i found is included the garages included apple at stores included the garage band fun i am interacting in a buy when the sea all the things i am up and running and sleuth ford i did see all these great applications running before me.i construe movies directly on my tablet if i as i can jump into i photo if i want and what i love is with the press a button i could take all those photos and turned into holiday presence. do not complicated it can be sometimes to pick those pages but apple they let me with the press a button to create a book from my summer vacation it did all the work for and made a creative spirit begins to photo books, holiday cards and videos because apple makes it smarter with a click of a button. you can't pitch

hey, what's the matter with apple? well, i play his game. i say it's going down. that's what's the matter. helpful. but i put it like that because stocks can acquire an overtone that actually determines the facts, so to speak. and apple stock's one that's swirling in that particularly toxic soup. as fabulous as the run up was this sickening decline from 700 to 500 has a fascination of its own. here it goes. i think there's a host of reasons why apple's going down, not just one. the first is an embarrassment of riches when capital gains taxes are going up. it makes sense to lock in the gains now rather than later. come on. you're going to pay much higher taxes next year. when a stock gets sold down like this there's always a kernel of truth of why it might be tanking. a fundamental truth. we heard that apple's cutting back its ordering of parts for the iphone and ipad. wow. that makes people feel there could be an inventory glut developing which means prices are going to come down and gross margins growing to shrink. the iphone's not selling well in china. something

right now the industrials up by 46 points at 13,120 and change. apple is part of the nasdaq. apple down $14 a share. another 2.66% today as scott mentioned a moment ago, $50 billion in market value shaved off of apple this week alone. >>> let's begin with those comments just 24 days to go until america confronts the fiscal cliff. house speaker boehner coming out earlier today and saying no progress has been made in the negotiations. our chief washington correspondent john harwood is here with the latest. >> reporter: we ended the week with a fairly perfect, simple, clear, elegant expression of the partisan differences in this fight. speaker boehner came out and gave a press conference where he essentially said president obama has done nothing to compromise with republicans. here's the speaker. >> four days ago we offered a serious proposal based on testimony of president clinton's former chief of staff. since then there's been no counteroffer from the white house. instead, reports indicate that the president has adopted a deliberate strategy to slow-walk our economy right to t

cheryl: the stock we're talking about at the top of the hour, apple. moving higher, an interesting day for this company. of this stock doesn't bounce back further apple is going to take down the entire market. connell: 18% of the nasdaq. they are calling it the twinkie apocalypse. why the spongey cake is responsible for a surge in job cut numbers. cheryl: look at today's s&p winners and losers. netflix, starbucks, saveway and more. we will be right back. having you ship my gifts couldn't be easier. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from m the holiday stre. fedex office. [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfe vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ ale announcer ] lease 2013 ml350 for $599 a month at your local mercedes-benz dealer. dennis: and weakness in apple take down the market? we have a bear who frets abo

part of the reason think the momentum is slowing for apple. what comes after the iphone and the ipod touch and the ipad? well, is it the television set? apparently some of apple's chinese suppliers are trying out some high definition sets at the moment. that's got tongues wagging. is apple going to put a set in the market in the next few years? all in the realm of speculation. they need to do something with technology to keep the apple jugger not rolling forward. i wouldn't put it past the business. maybe we do see an apple television set on people's christmas lists for 2014. back to you. >> strange, jeff. they come up with so many innovative products and then try to improve something that already seems, you know, pretty great in most living rooms. >> as marijuana becomes fully legalized in more states like washington and colorado, we go overseas. the city of amsterdam of all places is cracking down on pot now. in this at school by kids. the city known for it culture red light district and liberal enforcement policy on drugs is declaring school

liz: what is filling the apple void? is about 50% of the nasdaq 100, to where it goes is important for the overall direction of the market. the fact it is down the last two weeks and stocks as a whole are off more means of the names have filled in that convoy. industrials have emerged over the last couple of weeks with a better tone. emerging markets have emerged over the last couple of weeks with a better tone. risk assets are acting a bit better than the tape would show was. liz: those are at eight-month high. are you suggesting there's more room to run? more energy and fuel for these two continue to do well? >> i think you could continue to see it do well. look at the s&p, still the emerging market above the september highs, so the message from groups have been stronger than that on the broader market. weavinwe think that is a good sl for risk. we favor em industrials. looking at carter's and tiffany's. trend is changing. liz: don't shop until you drop, but names at the moment. coach, herbalife, gnc. >> the trend is no

the name. what's funny is all these non-apple plays, they don't have anywhere near the possibility of being better, best product or even earnings momentum, but it doesn't matter. they are chips in the tech game and right now they have more value than apple. and all the players on its stage. i think selling an apple would quash down today. i don't recommend doing it. i'm an investor in apple. but there's still plenty of bullish analysts who would like to be more bearish. somehow i don't think they're done slamming the stock. gird yourself as i am, and keep in mind that that money desperately does want to go elsewhere. stay with cramer. >>> stay connected to cramer on madmoney.cnbc.com. when you give a child a toy, it has to work. ♪ make just one someone happy and when it's a toys for tots child, well, what could be more important? so this year, every hasbro toy donated to toys for tots will be powered by duracell. happy holidays. duracell with duralock. trusted everywhere. [ sniffs ] i took dayquil but my nose is still runny. [ male announcer ] truth is, dayquil doesn't treat that. really? [ male a

apple. jpl, an assemble erassembler. tim cook, theeo of apple says, don't worry about your apple business anymore, you just lost it. jay reports this week, i think a lot of it has been, maybe apple is slowing. so be careful. there's a lot of hidden apple stories. the other side is true, too. now, texas instruments was downgraded this morning. it will be very interesting to see, cypress, let's mention cypress, it is not an apple story. when you see these stories that are not apple, even though they haven't done that well, if we can look at cypress. very big yield. this started bottoming when we heard problems. they're a kindle play. people are scrambling to be away from apple. look at kindle. let's look at amazon. if you really believe you can get a yield here, you get terrific management by t.j. rogers. maybe that's where you have to be. >> the chip equivalent of what dell and hp have done over the past couple of weeks. >> the problem with all of this is, the reason why these are going up is because they're not apple. why did they go

the whole flash issue with apple, that fight we've had. esn't appear to be hurting adobe too much. >> everyone is getting into the cloud. where the growth is. >> the lockup period expires on about 150 million facebook shares. that stock we saw a moment ago is trading lower today. threats' find out more about this. julia. >> mandy, it's the fourth of facebook's five lockup expirations and the 156 million shares that are available to sell today are owned by investors who also had a chance to sell in the ipo. those shares are off more than 3%, about almost 3.5%, almost 4% today as investors do some profit taking. after the stocks run up 36% after the last lockup expiration when 1.2 billion shares became available to sell. now driving the stocks' rise over the past couple of months is confidence that facebook will make money for its growing mobile users, ecommerce, from its add exchange as well as a surge. it has been hanging over facebook stock. now there's one more small one left. 50 million shares which become available in may. mandy, back o

i recently sat down with the president and asked the differenceetween apple the stock and apple the companyon of products but here's the biggest issue for me. sales growth and earnings growth have declined. simple as that. they were growing 50, 60, 70 last couple of quarters and the market may be speaking up. and a cycle of a great stocks and the stock went from 15 to 700 since they came out with the ipod. every great stock has a shelf life for me to go 90s in tech and, cisco, microsoft and intel but they got too big, earnings be celebrated and they were sent back into oblivion. not saying the same thing will happen to apple but what i'm saying is the stock is in trouble and the big-money crowd continues to sell. gerri: do we love apple stock too much? is that what is going on here? >> yes, it is over old. if anything goes wrong, only one is left to do, that is selling. a lot of big funds have 50-100% of their dollars in that one stock, apple, because it made so much money from it and they don't want to let go of it because it has done so well for them in the past. we have to be careful of