 The following is a presentation of TFNN. The morning market kickoff with your host, Tommy O'Brien. Good morning, everybody. I'm Tommy O'Brien, company live from TFNN Friday morning, just after 9 a.m. Eastern time. We got about 30 minutes to go until the opening bell and right now you've got markets in negative territory, folks. Apple and Amazon, I'm sure you've seen it by now. Misses last night, pretty remarkable, would qualify as a miss for these companies but when you're trading at the valuations, they are expectations sky high and they do both miss. We'll get into that in a moment but right now you're seeing it reflected in the markets. S&Ps right now, down 27 points. We look at the action last night. You see a little bit of volatility right out of the gate. You had Amazon out with their numbers right at four o'clock. You had Apple out with their numbers at 430. It's been a slow melt since then. We're coming down to lows of the pre-market session right now. S&Ps down 28 points. NASDAQ 100. There's your two moves last night. Four o'clock is your Amazon move down. You get an extension of that negative move for Apple at 430 with their numbers and we're right down to almost where you had a spike low last night. Approaching the lows we had at about 6 a.m. We're down 9-tenths percent right now in the NASDAQ 100. You get the Dow down about a quarter percent, 35,000, 524 in the Russell, down about a quarter as well, 2289. Bitcoin back above 61,000. Little bit of volatility yesterday. See that spike at about 215. We spike higher and we're back above 60,000 like nothing. Bitcoin at 61,410. Crude trading a little bit lower, $81.56 right now. The price of crude, you're down $1.24 in the session. Gold given up some of the gains that it's had recently. You're down $21 below 1800 again. You're at 17.8150. Silver trading lower as well by about 22 cents at 2390. And we jumped to notes and bonds. We're getting some lower price and higher yield. You're talking about a yield back above 1.6 percent right now. We're approaching 1.61 percent. The 10-years negative 13 ticks at 130.10. That's the yield on the 10-year. Just over 1.6 percent right now. We jump over to the VIX. As we're gonna have a negative open this morning folks, the VIX volatility index 1783. You see that spike initially right away on the Amazon and the Apple earnings. We hit 1806 overnight. We're climbing back towards that level right now at 1784 in the volatility index. All right, let's just get right into it with Apple and Amazon. The two main events you could say. Now the headline, Amazon, Apple results spark fears of unhappy holiday season. That's one headline out there on the Bloomberg technology aspect of things kind of combining both of them. Getting into the numbers though, let's kick it off with the biggest company in the world, Apple. Tumbles after supply crunch hurts iPhone makers sales. $6 billion last quarter was revenue hurt by supply chain constraints. They don't have enough products to sell. They go through here. CEO Tim Cook said the shortages in the current period will eclipse $6 billion, meaning that this quarter gonna be worse than the last. Product constraints cut sales by about $6 billion and shortages in the current period will eclipse that number. You get into what they had revenue. 83.4 billion missing estimates of 84.7 represents growth of 29% from a year earlier. The quarter didn't include a new iPhone. Apple released the iPhone 13 in the last few weeks of the last quarter helping bolster sales. So check that out, right? When they're comparing it in terms of the 29% growth from a year earlier, you're comparing it to a quarter that did not have a new iPhone launch as opposed to the first few weeks of an iPhone launch when they must sell so many phones, right? They sell out on a lot of models right away, let alone a few weeks of orders, probably selling out pretty dramatically. As they say, results spark a little bit of fear in terms of the holiday season. Last quarter, $38.9 billion in sales from the iPhone, the flagship product. Market was looking for 41.6. That's a $2.7 billion missing revenue in 90 days for iPhone sales. Can't keep up with demand. And so they did not provide formal guidance for the current quarter. That's quite a leap, not providing guidance when you miss by six billion because the supply chain constraints, you say it's gonna be worse next quarter and we're not even gonna give you guidance for our revenue. The market looking for $120 billion. It's holiday season, folks. That's when Apple usually crushes it. It's when Amazon usually crushes it as well. We're gonna get into them next. Not crushing it either for Amazon. Did say that all of its devices except the iPad would see year-over-year revenue growth in the quarter. Supply challenges will be too much for the iPad to achieve growth. So everything except for the iPad. Supply challenges, hitting the iPad especially hard. It looks like revenue growth, not gonna happen in the quarter for the iPad there. 9.2 billion in Mac revenue. Big numbers across the board, but nonetheless you're gonna trade lower. Apple shares, there's your spike from 152 to 147.98. We may open with Microsoft as the most valuable company in the world with this little bit of volatility. Now here's the only thing that I'll say, folks. Right now Apple's trading at about 148. Well, we came into the end of Wednesday at 149. Keep things in context. That's a dollar lower, a dollar. And they just missed on iPhone revenue by what I say, 2.7 billion, something like that. You really accelerated higher with some big expectations, didn't live up to those expectations. Amazon traded dramatically higher as well. Let's jump over to Amazon yesterday. Talk about charging higher. From the open yesterday in the 3,300s, we trade up to 3,479. Amazon's gonna open about $150 to the downside at 3,304. We jump over to Amazon numbers to take a look. Amazon, the thing that jumped out at me on Amazon, all right, so they miss on earnings. Let's see if they got the number here. Where's my earnings miss? They did miss on earnings. I gotta get the exact number. It was something like 12, 612 a share is what they made. I think the market might've been looking for eight something. The big one here though is revenue. In terms of the revenue coming down the line this quarter, revenue is gonna be 130 to 140 billion in the period ending in December, holiday season. Market was looking for 141.6. I mean, they're telling you they might miss by almost $12 billion in holiday season. And they've also said operating income may be as low as zero. A step back for the company and reaping billions of dollars in profit each quarter going back to early 2018, holiday season not even making any money. A company like Amazon spending, what does that say about other companies in terms of how they have to compete if Amazon, who I think we all understand they are just crushing it in terms of process, deliveries, same day delivery, next day delivery, holiday season, et cetera. I mean, part of what they talk about here is that they have basically some trucks that aren't full that they have to send around. Let me see if I can find the quotes in here because it's just constraints of what they're dealing with. In the fourth quarter, we expect to incur several billions of dollars in additional costs in our consumer business, labor supply shortages, increased wage costs, global supply chain issues, and increased freight and shipping costs. It'll be expensive for us in the short term, but it's the right prioritization for our customers and partners. 1.46 million full and part-time workers. That's a 30% increase from a year earlier as of September 30th. Just staggering numbers in a big way. What I did want to get into though is AWS. $16.1 billion in sales for the quarter, up 39%, the fastest growth rate since early 2019. 16.1 billion. That's, I mean, annualized, you're talking about $64 billion business growing at 39%, the fastest growth rate in two and a half years. So keep that in mind, because if Amazon really pays a price year long-term, probably a value area to be buying in the long-term if this thing really gets destroyed on the open. Not sure it will. We'll be right back, folks. Stay tuned, we got a lot to go over. Everything in the universe is governed by the Fibonacci sequence. This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market. 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At TFNN, you'll get advice and guidance from the authority and technical market analysis, and it's not just dry, tedious text either. TFNN airs live financial content streamed live on tfnn.com and TFNN's YouTube channel with Tiger TV, live every market day from 8.30 a.m. to 4.00 p.m. Eastern for free. Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world. From the moment the market opens until the closing bell sounds, Tiger TV has eight different shows with expert hosts to help you make the right moves with your money. Watch online at tfnn.com or on TFNN's YouTube channel and become the investor you were born to be, TFNN, educating investors. Welcome back, folks. We have the S&P right now. Negative 24 is talking about notes and bonds out there. You get the 10-year down 11 ticks. You see some movement at 8.30. We got a couple numbers out there. Inflation, about another 30-year high as measured by the Fed's favorite gauge, gauge gauge, is how CNBC puts it out there. You're talking about PCE. In annual inflation rose at its fastest pace in more than 30 years during September, despite a decline in personal income. And we get into wage growth in here as well. Kind of interesting. Headline price pressures as gauged by the personal consumption expenditures price index, PCE, including food and energy increase, 0.3% for the month, pushing the year-over-year gain to 4.4% fastest pace since January of 91. Stripping out food and energy costs, inflation rose 0.2% for the month in line with estimates and 3.6% for the 12-month period unchanged from August, but good for the highest since May of 1991. Think about that. Think about just if you strip out food and energy and think about the impact food and energy is having on the inflationary tendencies going on in terms of the budget that you have as a family, right? You have fixed costs and you have variable costs. Now, rent is a fixed cost until you have to renegotiate and it becomes a variable cost until your next lease, et cetera. You have fixed costs and you have variable costs and on the month, energy costs is a variable cost. You are subject to rising energy costs on a constant basis. Food is a variable cost just across the board rising. It's just remarkable that you take those two out and we're still dealing with 3.6% for the 12-month period, crazy. The continued inflation jump came as personal income declined 1% in September, more than the 0.4%. Drop consumer spending increased 0.6% in line with Wall Street estimates. Now, they allude to the next thing I'm gonna jump to here, which is compensation costs also climbing. 1.3% in the third quarter, ahead of the 0.9% estimate, year-over-year, 3.6%, okay? And here we are for that. Employment costs rise at record pace as wages surge. Wages and salaries rise 1.5% for civilians and all-time high, raising pay to attract workers in tight markets. We're seeing it in Amazon, right? You're seeing it in a big way. They've got almost 1.5 million workers and they're telling you they might not even make anything in the holiday season because they gotta pay more. And it's the cost of everything in terms of supply shortages, et cetera. The employment cost index, a broad gauge of wages and benefits rose 1.3% from the prior quarter. That's 3.7% from a year earlier. Compensation gains were broad-based across sectors underscoring how tight labor markets are, has put pressure on many different types of firms to raise wages. It spans all spectrums, folks. Wages and salaries for civilian workers, you're talking about 1.5%. That's what we alluded to. Unlike the average hourly earnings figures in the monthly jobs report, okay, to explain what they're talking about here with wages, this is not impacted by employment shifts across industries and occupations, something that's been particularly severe. So taking out when you're jumping around industries, jumping around occupations, that's gonna cause some big differences in pay, of course, as you're changing jobs. This keeps that steady, and still you're seeing that rise is 1.5% staggering. And when you look at the wage breakdown by private industry, credit intermediation, that's a big one, almost 8%. Finance and insurance were up 3%. Leisure and hospitality, 2.6%. Nursing and care facilities, 2.1%. Service providing industries, 1.7%. Wages and salaries at companies, 1.6%. They talk about companies like Chipotle that are raising prices to offset labor costs, et cetera. A lot of companies right now probably have a lot of leeway to raise prices, right? Everybody knows, it seems, that there's inflationary tendencies. Everybody knows that the price of housing is going up. Everybody knows that the price of oil is going up. Rents are going up, depending on where you live folks in Tampa. Rent prices just through the roof. You're talking about 20% rent prices to go with food prices going up, commodities going up, oil going up. It's a constant battle. People are very aware of that. People are demanding higher wages, which is why you're seeing the gap in terms of jobs open versus the unemployed, okay? They're demanding higher pay to get filled. You're seeing it in the earnings, like a company like Amazon. They're talking about it, higher wages to fill those same roles. And that is translating that people are aware. So if people are aware of this inflationary tendencies, companies, maybe rightfully so, have a lot of leeway to be raising their prices because they're not gonna get a lot of hate that they're kind of like stealing from the pool. The tidy, they're not gonna get that. They have enough backing probably rightfully so again. When a company like Amazon isn't even make money because it's costing so much, you may see rising prices folks. You're gonna see it across the board, whether it's Chipotle, right? Whether it's Procter and Gamble talking about they're going up at almost a record pace. I think that was a couple of weeks ago when they came out with their numbers. It's gonna persist. It's gonna persist in a big way and we're seeing it. And you're seeing it with Amazon numbers. Now, to finish up the conversation on Amazon is we're getting a little bit of a bid here up off of the lows, 33.12. I say a little bit of a bid. You're gonna be down $130 overnight. Nothing to shake your head at. That is a substantial move folks. We're gonna open at about 33.12. Again, for some context here though, you get down to the 3,000 in Amazon and you're looking to enter a long-term position. I would at least be starting to buy there. It's tough when you start to buy. You gotta buy a single share at $3,000 is your minimum start. But look at where we are folks. You're talking about a level. We're gonna be at 3,300. You're gonna be at prices in Amazon that we have not seen, excuse me, that we've seen basically going back almost 16 months ago. You're in a consolidation between 3,000. You did make it up to 3,773 right when Jazzy took over. The market said not so quick. Their last earnings drive down from 3,700 to 32. This time we committed 3,450. We're gonna go to 3,300 on the open but we get down to 3,000 in the long-term. I mean, I started to talk about it but just to bring it back to fruition and really focus on it folks. Amazon Web Services is posting $16 billion a quarter and growing at almost 40% the fastest growth rate since 2019. I cannot fathom running a business that's running an annual run rate of $64 billion and you're growing faster than you were two and a half years ago and you're growing at almost 40%. I mean, $64 billion every 10% we're talking about $6.5 billion. 40% was that $26 billion of revenue they're gonna add if they grow at that rate over the next four quarters, $26 billion in revenue they're gonna add in the most highly profitable business segment of their business. And I think they talk about in here in terms of just the fastest growth rate. I mean, just that if that keeps growing that might be able to offset some of the problems that they have in retail and if they ever can pull themselves out of the cost problem they have they might be able to turn some big profits because you're growing in the sector that has the biggest margins in the company. AWS and you have a guy running the company now who basically was in charge not basically was in charge of AWS and almost started that division at the company in Jazzy. I said to a friend, it's pretty remarkable, right? That you can have a business that the most you could say the most important part of their business and I would folks, I wouldn't be out here saying what a great opportunity AWS Amazon excuse me might be at 3000 if it was just the company that did retail because they are dealing with a lot of woes right now they got costs just that are crazy but you're also getting AWS that's growing at 40% for a $64 billion run rate annually right now and I can't fathom again growing at a fastest rate since 2019. Think where the internet has come the last two and a half years. Think about the growth AWS had at that time and you're just crushing the growth rate. It's pretty staggering what they're doing but they're gonna open lower this morning cause that revenue miss in the fourth quarter 130 to 140 billion, the market was looking for 149. The only thing that scares me in those numbers is missing on the revenue by almost $11 billion potentially coming up for the holiday season. Stay tuned folks, we'll come right back we'll see how Amazon opens we'll see how Apple opens, we'll be right back. Are you having fun trading the markets but having trouble finding like-minded individuals to discuss your trading and investment ideas with become an apex predator in the trading markets and join the Tiger's Den trading room only at TFNN.com. The Tiger's Den is an exclusive trading room where successful traders from around the world come to exchange trades and ideas. Join the den and surround yourself with the sharpest minds in the trading world. Subscribers to the Tiger's Den are also the first to have their questions answered live on air and can privately chat with our TFNN hosts live during their shows. Interact with other Tigers and Tigresses as they share trading ideas, news analysis and discuss the market action all trading day. Subscribe to the Tiger's Den risk-free with our 30-day money-back guarantee and become part of the TFNN trading community. 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TFNN is excited about our new software charting program, the Art of Timing the Trade Charts. In collaboration with Tom O'Brien and using his best-selling book, The Art of Timing the Trade, Your Ultimate Trading Mastery System, David White has programmed an outstanding piece of software that will complement any trader's methodology. Using this first-of-its-kind program, the Art of Timing the Trade Charts allows you to scan thousands of stocks for Fibonacci formation setups, including guardleafs, ABCs, butterflies and much more. The Art of Timing the Trade Charts is designed to help you when scouring the markets for stocks just beginning to form the trading patterns that many investors spend days, weeks, or even months searching to find. And right now, we're offering licenses available at only $79 a month. We are so confident that you're gonna love this new charting software that will even give you a 30-day unconditional money-back guarantee. Don't miss out on this incredible new piece of software. Get your copy of The Art of Timing the Trade Charts today by visiting TFNN.com. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of TFNN.com. Welcome back, folks. We've got markets open, and right now we're talking about an S&P, negative by 23 points on the open NASDAQ 100, negative by 122, but check out, Apple, man. We're rising on the open to 148.55, and remarkable, folks. You're basically back to where we were at the close of action on Wednesday. Given that what my Apple had to say, remarkable. I mean, yes, you do give up the whole acceleration you had on Thursday, but all you've done is basically trade back to the close of action on Wednesday. To bring this back, you're talking about a level that we were pushing almost all-time highs at 148.52. Yeah, you did rise above that level, but again, for some context here, you only traded above a price point of 150 in Apple for maybe two weeks ever outside of yesterday's acceleration. Apple only down 2.7%. Drumroll, please, let's see how Amazon, I don't imagine that Amazon is getting the bid that Apple did on the open. That revenue number a little scary. Let's see where we go. Amazon down 4.8%, yeah, quite a difference. Amazon trading lower on the open, challenging the lows we got last night. That revenue number, folks, I always talk about it. Earnings, earnings can fix themselves, and they can't fix themselves. You need management, right? You need everything that has to happen to make money and not spend frivolously, especially with supply chain problems, wage problems, et cetera. But Amazon has the ability, as long as they keep growing that revenue, to bring it to the bottom line, because they're investing in capital. I've said it many times before, I'm a SAMS member, which is Walmart, and we have some Walmart in my newsletter, folks. I believe in that company, but I only believe in that company from a share price, because right now their market capitalization is like one quarter the size of Amazon, because they have that opportunity to grow, because they're not competing with them right now, because their processes are nowhere in line with the expectations that Amazons are, in terms of when they deliver it, their notifications, the process of their delivery, how they show up at your door. When Amazon spends that money, you have to imagine that it probably is gonna be necessary to compete in that arena. I'll give you an example. I went to Publix yesterday, just picking up some groceries late in the afternoon. I get in line, they had one single aisle open in Publix for people checking out, besides the self-checkout. Now, I know there's probably problems going on in terms of hiring workers, right? Hiring people for that, and I'm just figuring out, hiring people, hiring workers, et cetera, to do that, point being, they should be spending more money, because if they're not, it was a very bad experience being in Publix. I ended up taking a decent order and going self-checkout, which I ended up regretting instantly, because I thought this line is so long, I have to do self-checkout, even though I have a bunch of items that I would never go on the self-checkout item. I went to the self-checkout item, then you have a manager that opens a lane, so it was a little bit quicker than I thought. Point being, they should be spending the money, even if that comes in at an expensive short-term earnings, because I left there very unsatisfied with spending hundreds, 200 bucks for a weekly order of a bunch of groceries, and I had to sit in line for 30 minutes and run my own order through the cash register to check out, and I thought to myself, in the same way, these companies are all dealing with problems here, but you've got a company like Publix that's just a mammoth private company, okay? And the founders are multi-multi-billionaires, you're talking about tens of billions of dollars probably, they should be spending more money, folks, to make sure that they run their business as efficiently as possible, because competition is pretty fierce right now, and they're not doing that at Publix and the one I went to yesterday, that's for sure. One person, one aisle open, besides self-checkout, you're not gonna see Amazon do that as the point, okay? And you can't do that if you wanna have that level of satisfaction that they basically do across the board. All right, we got a caller, what have I sparked? We got my dad. What's going on? Good morning, dad. What's happening, man? How you doing? Good, how's it going? Good, so check this out, man. You're talking about this, this is the exact same thing. So, Pitchett, Hokes, Tommy and I live about what, 30, 40 miles apart, right? Yep, yep. And Publix owns Florida, folks, Lockstock and Barrow. Exact same thing happened to me this weekend, and it was so weird. Now, I'm really used to self-checkout, okay? Because I like it, okay? But the same thing happened, I had a bigger audit, I'm telling myself, I'm not doing self-checkout with this, particularly when you get too many vegetables, right? Sure. It was like one aisle was open. This is okay, man. I went through it, I didn't go self-checkout. But that's intriguing, man, because that means that it's a store-wide deal. Okay. Listen, I'm just Googling you, I'm talking about company-wide deal. You know what I'm saying? As you said, Jenkins, the founder, he was the CEO from 1990 to 2001. I'm pulling out of the founder. I mean, you're talking about tens of billions of dollars, point being, it's like, you gotta forego some of those earnings right now, or you're gonna lose customers. And Amazon, rightfully, when they spend the money, man, if they're spending the money, they got 1.5 million workers, where's their, what's the competition gonna do? Because if the competition isn't spending it, we've told the stories on how, you know, what's gonna happen with Walmart, with Target, et cetera down the line, they're gonna have to. If Amazon has to do to compete, what are the competitors gonna do? And eventually, I think they'll get over that hump, as they've shown. But yeah, to tell you how absurd it was again, so I take the carriage, I go to the self-checkout, pretty much instantly regretted as I start swiping items through, and I realize that I got like 100 items or something. You know, you add up all those small items to do them one by one, put them in a bag, then I figure out that I can't stack all my bags in the area, so they got the person who helps with the self-checkout, they gotta get me a separate cart, so I'm rolling from my cart to the thing to a separate cart, I know. And all for the privilege to give them close to $200 of business, I didn't walk away with a good feeling, man. And Publix, they're right, they get to charge crazy prices for some of their products because of just like the good experience that usually comes with that. And so, picture this, where my head went when I'm walking out, I'm saying to myself, okay, the next time, what happens, folks, is just like, like any other, everyone goes there a lot, so we go there a lot, I'm there a couple times a week. But I'm saying to myself, okay, man, the next time I'm really getting a bunch of stuff, I'm gonna look first at the counter to see how much I'm gonna buy. That's what really, I said, oh, this is gonna be interesting, man, because if there's, you know, you don't mind going, okay, but I don't wanna spend 45 minutes at the grocery store. You don't know, man, but I'm kind of a fast shopper. So, but it's like, it's a great deal, man. Oh, listen, that was supposed to be, it was supposed to be a fast one for me yesterday. You know, I use Instacart sometimes, and I just had the ability. I said, you know what, I'm just gonna run in, I'm gonna run out. And I even said to the guy in front of me, who had an enormous cart in front of me, and I look, I show up, and of course, you're looking around, I'm saying, oh, where's the other aisle, right? Where's the other aisle? And I figure out, oh my goodness, this is the only aisle open. And I said to the guy, one aisle, huh? The guy goes, I know, one aisle, right? So it's not just one thing. Yeah, and that's really different for public folks. Normally, they've been a high public service, so what would you call it? Public customer service, right? Oh, sure, I mean, the people that work there become owners of the company, right? They only promote from within, so they create this whole, you know, it usually is a good experience, a nice customer experience in there. But it just made me think that they should be spending more money, especially as a private company man with tens of billions of dollars, they're leaving an opening there for their competition, and Amazon doesn't leave that opening. You know, they really don't, man, they plow the money in when they need to, and if they're gonna forego earnings, and listen, I have Amazon in my retirement, you know, I'm stating the case and I'm biased, but if they have to do that, Walmart's already behind the eight ball on their process of deliveries, et cetera. They might have a good deal going with the buy online pickup in store, but they need to spend more money too, man. So if Amazon's gotta do it, if it allows them to deliver all those holiday presents when they say they do, then what's Walmart gonna do to do the same thing? I don't know. No doubt, man, no doubt. Well, thanks for the feedback, man. Good to hear from you. Have a great one, man. Love you, man, you too. Have a great day. Love you, bye-bye. All right, folks, and with that, we got the Dow and Positive Territory. We get the S&Ps down just 13 points. Market's catching a bid. Stay tuned, folks. We'll be right back. 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That's TFNN.com, then hit Watch Tiger TV. Welcome back, folks. We got the S&P's negative 11 right now. Jumping around, we got Microsoft, up a quarter percent jumping around to Microsoft right now, checking out the market capitalization, Microsoft. 2.44 trillion dollar company. We jump over to Apple. Are they coming in at 2.44? They might be below that number, 2.42. There it is, folks, Microsoft, the most valuable company in the world, Remarkable. They started off this year, $700 billion behind Apple. Started off this year, $700 billion behind Apple. They've overtaken them by the end of October. Remarkable. Amazon right now, you're down 3.7%. Catching a little bit of a bit off the lows. Amazon, 1.7 trillion dollar company. Kind of like Microsoft started the year. So don't think that they can't have a run in them at some point, but not sure it's gonna happen coming into the holiday season unless they pull a beat out of their hat and they did not pull a beat out of their hat this season. Jumping around to what else we got going on before we pull away from the fundamentals tab. Starbucks right now down 7.5%. Starbucks, $123.5 billion company at this valuation. You see the sell off last night on the numbers and you see the sell off on the open as well. We're down to about 105 right now from a price point of almost 113 last night. You jump over to Starbucks numbers. They got a $20 billion buyback, but not enough when you're talking about failing to appease Wall Street as one headline puts it. Key measure, same store sales rose 17% worldwide in the fourth quarter. Market was looking for 19%. Say it all the time. Remarkable what happens with these public companies but guess what? You're trading off multiples that are sky high for expectations sometimes. And if you miss those expectations, the market's gonna recoil. The company's outlook for operating margin 17% well below the analyst expectations as well. In China, comp store sales fell 7% better than the average estimate for 7.5% declined from analysts but renewed pandemic pressures have curbed economic activity in the world's most populous nation. Important market for Starbucks, along with the US Starbucks has a huge presence in China. If you go back actually, they were one of the first companies that really got hurt during COVID because they started selling off when you actually had the coronavirus just hitting China. You had a first sell-off coming in, you had earnings, you sold off a little bit in January, you go from 92 or 94 down to about 84. Then you sell off with the US markets from February, you reach a low of 50. Let me check out that bar though. You're breaking below some pretty decisive areas. You're giving up all the gains for this year in Starbucks, you open the year at almost 107. You're trading at 105.40 down 6.8% on their numbers right now for Starbucks. We jump back over to Apple to take a look at the move. We're down about 3.8% right now. Apple, what's remarkable, you're talking about a company with 16.5 billion shares outstanding. We closed yesterday at give or take, let's just say we closed at 152. We closed at 152.50 about, but we're down about $6 almost. You're talking about almost $100 billion wipeout. $100 billion wipeout. Amazon's got almost $100 billion wipeout as well. You're talking about $150 to $200 billion in market cap just between these two companies wiped out since 4 p.m. Eastern time last night. All right, we got to talk a little bit about Facebook. Facebook trading higher yet again up 2.3%. The metaverse is the future. Facebook trades from 308 yesterday. We trade up to a high at 235 p.m. Eastern time of 325. You're talking about a $17 move, but the market really gives it up now. You had the market sell off last night, okay? So Facebook sells off with the market. You're right back to highs this morning. And we'll see where this plays out. I'm not gonna throw too much shade at Zuckerberg just yet in terms of, yeah, it's a rebranding deal completely. They know they got problems in a big way. Meta is the next frontier. Metaverse is gonna be number one. Facebook is gonna be number two. They got a new ticker symbol coming December 1st, M-V-R-S. It is not meta, M-E-T-A, not the stock to trade folks. I bring that up because you wanna see how meta is trading. Meta shares. It's a materials company in Canada, not the new Facebook. In the days of meme stocks and Reddit stocks folks, meta yesterday. Now the most interesting part of this, okay? This stock has nothing to do with Facebook. Nothing to do with Facebook again, right? Yesterday, Zuckerberg starts talking. Meta comes out. The ridiculous thing about this chart, and I hope they write some articles, somebody digs into it because I don't even know how it moves like this. I got a five minute chart. Let me just put up a 15 minutes so you can see the action here. This is the meta stock that has nothing to do with Facebook yesterday. This stock on a 15 minute basis was trading a few thousand shares, maybe 8,000, maybe 5,000, maybe 3,000, right? We had one 15 minute bar in there. I think we were trading 2,000 earlier in the day. And then Facebook announces that they're changing their name to meta and you trade 400,000 shares. Then you trade 160, then you trade 360,000 shares. The remarkable thing about this is that this stock only moved 10 pennies from 1510 to 1520. And you had almost a million shares trade hands in a stock that was normally doing 3,000 shares. Where was the selling coming through in this equity that a million shares could be bought and sold and the price only moves 10 cents for an equity? Now, you're still, this is a decent company. I think you're valued at $1.5 billion. I think they have it in here. Yeah, $1.5 billion, it was valued at. But just kind of makes me wonder how that happened and what really it means is that who knows what's going on there in terms of Reddit traders, meme traders, momentum traders, nonetheless, meta, trades from about 15, just look at that volume to only move 10 or 20 cents. I don't know how that happens on such a small business. Now, jumping back to the reality of Facebook, okay? Facebook shares continuing to climb up 2.7% right now. They come up with their numbers on Monday, strong numbers. They announced the change of their name yesterday. We're up to 325. You really sold off on Tuesday action on Facebook there as some of the even more persistent news just continued to roll out on that equity, extending market, not really liking that first spike, giving up a lot of the gains, but you're right back to where we came into their earnings, basically at the end of Monday. And here's what also came out last night. They're gonna have a planned competitor to the Apple Watch. Listen, the future is probably unimaginable in terms of the technology we're gonna deal with, okay? They have Oculus. I think they bought Oculus in like 2013. Time is amazing. Think about eight years. What a company like Facebook has probably been doing with that type of virtual reality and how they might be envisioning our future. If you've ever seen the movie Ready Player One, basically what it is is you're kind of living in a virtual reality world. And in Ready Player One, basically everybody almost prefers to live in that world versus the world of reality. It's not too far fetched folks as technology really ramps up that you can just, what are you, you walk into a suit, you got a suit that has sensitivity around your whole body so you can feel things, you can move things, you have eyes, you're living in virtual reality. Maybe you have friends all over the world and you meet in a metaverse, right? And you're all wearing your virtual reality suit so you can be in that metaverse. It almost feels like reality where you have the headset, you have 3D technology, you have sensitivity technology all over your body so you almost feel there. It's not outlandish. Here's where I'm bringing that though. I have an, I watch. I'm an Apple fan. I bought one last year. It's been a great deal. I like to work out. I like to go running. It tracks your heart rate. It tracks a bunch of different things beyond that. It's just kind of nice that it can operate for texts and phone calls outside of your cell phone. If you don't have it, there's no way I'm trusting Facebook with a watch on my phone, on my body folks. It's just not happening. They do not have the level of trust that I'm gonna be putting a wearable for a company like Facebook on my body anytime soon. That's gonna be a problem for Facebook when they come out. Watch looks great and they're right. The wearables are the future but that's gonna be a hurdle. I don't trust the Zuckman with nothing going on my body that's tracking me and they haven't earned that trust. So they're gonna have to battle that one a big way. Stay tuned folks. We'll be right back to Finish Up Show. Sharpening your skills as an investor is like getting better at playing a musical instrument. You have to practice, sure, but you also need excellent instruction from experts. At TFNN, you'll get advice and guidance from the authority and technical market analysis. And it's not just dry tedious text either. TFNN airs live financial content streamed live on TFNN.com and TFNN's YouTube channel with Tiger TV live every market day from 8.30 a.m. to 4.00 p.m. Eastern for free. Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world. From the moment the market opens until the closing bell sounds, Tiger TV has eight different shows with expert hosts to help you make the right moves with your money. 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The Tiger First mortgage program pays 7% per year, paid monthly. For more information, you can call 877-518-9190. That's 877-518-9190. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of tfnn.com. Welcome back, folks. I got to try to Chevron out here. Chevron out with their numbers accelerating higher. Give them back some of those gains, though, up about 1.1%. Right now, you have ExxonMobil out with their numbers as well, up about a percent as well. We jump around to some of the other companies out with their numbers. As we finish up the program right now, I wanted to get to Gilead out with their numbers, GILD. They're trading lower, getting a little bit of a pop, but they were down to 64 bucks. We're down 3.5%. Right now, for them, they earned $265, beating the $1.75, but revenue exceed forecast, strong demand for COVID-19 treatment, but said full-year sales on its non-COVID drugs won't reach earlier estimates. There's your hit there. You want to talk about an acceleration. How about you, a steal today? It's just not stopping. You're up 15% right now, up $3.40. You put this thing on a weekly going back. You're coming up to the higher range. You're coming up to the higher range. You're coming up to the higher range of that area, basically $29 to $30. Last time we were there was in August at 3057, quite a pop for US Steel. As they earned $5.36 a share, market was looking for $45 revenue, came in above analyst projections, Steel's shipping its surge, raised their quarterly dividend and announced a $300 million stock buyback. And on the flip side of that, Western Digital dealing with supply constraints in the market, not liking it down 12.5% right now. That stock, talk about giving it back, man. You go from 80 bucks to 50 bucks over the span of about five months right now. And you take a look at this thing on the long-term folks. Watch out for the roller coasters on Western Digital. Every time we've had a spike, the area we've traded down to is $37, going all the way back to 2012, man. You made it back down there in 2016, made it back down there in 2019, back down there again, June of 2019. The COVID lows somewhere around there, skipped around the bottom price tag. Don't have to be a master technician to see where that level might find support. It's about 38, 37 bucks, and we're 12 bucks away from that. You're down $7 today on Western Digital. Gonna be an interesting day in the markets, folks. We had the S&Ps down just seven points now. We just gave back, what did I say? $150 to $200 billion in market cap. We're getting a lift in different areas right now because you still have Apple right now, down 3.8%, Amazon down 3.6%, Starbucks down 7.3% right now, S&Ps down just eight, NASDAQ 100 down just 78%, Facebook shares up 2.5%. Thanks for tuning in, folks. Stay tuned, live programming, all Friday at TFNN, Basil's up next with the Tiger Technicians Hour. Have a great Friday.