arm is doing extremely well without nvidia. it would be harmful for arm to be taken over by nvidia. it would lose a lot of the licensees in now has. >> can i clarify, do you see this ftc case as being the biggest hurdle this is facing? if it gets through this, it is likely to pass through the other hurdles? >> the ftc is the biggest hurdle. the cma has come out very strongly with the same arguments as the ftc. it would give an nvidia the ability and -- it would give nvidia the ability and incentive to harm licensees. there is the european investigation. it has also come out against the deal. i talked to all three of these authorities and they are all opposed to the deal. then there is china who is also opposed. if nvidia were to implicate the ftc, which i hope will not happen, nvidia would still have an uphill struggle to finish this deal. haidi: bloomberg has learned that the biden administration is weighing banking sanctions against russia. as press -- as president putin wages were in ukraine. this is bloomberg. when you have xfinity, you have entertainment built in. which is kind

nvidia shares saw the biggest intraday drop in a month after u.s. antitrust officials sued the company to block its $40 billion takeover of chip designer arm. we will get to our news reporter. what are the main points of contention with u.s. regulators? ian: what the ftc has said is what nvidia's rivals has said all along --how can we trust a competitor to be the owner of this technology? how can we trust them not to prioritize themselves? that is what the ftc has said in bringing this case. it reflects what is going on in europe and the u.k. to an extent. emily: what is next? i mean, clearly, they have these challenges in europe and the united states. it does not look good. ian: i mean, we put in our stories. the citibank estimate says the chances of this being completed has gone from 30% down to about 5%. emily: mm. ian: all along, wall street has not expected the deal to close and now they really do not expected to close. that changed the conversation to what do stock bank still with this asset going forward? you know, all eyes expecting on when

excuse me, compare that to the average nvidia multiple over the last few years which is closer to 50. there's no way to say this is a cheap stock, great opportunity however, being an expensive stock has not held this back from being 108% return this year because it was expensive going into 2021. so that really has not been the best way to think about what the stock may do i would just say this, gpu chips will be on fire this year. video gaming and consoles and it so far outstrips anything that any company can supply that it will be all systems go, almost no matter what happens in the broader economy and then you think about data center. more importantly, hyperscale data center which is the next level where everyone's going you cannot do this with linear processors you need gpus for the data centers. nvidia is almost the only show in town and that business is growing at a rate that you can't find anywhere else in technology and you look at things further off into the future and extremely meaningful, anything from robotics to a.i., virtual reality and the omni verse and all of that stuf

the acquisition would limit giving nvidia control over key tech used by rivals. nvidia pushing back saying the combination of our companies can enhance competition in the industry as we work together on further building the world of ai carl, this one, you know, the analyst notes that i'm seeing, it seems like people are saying now chances are this doesn't go through. all of these acquisitions of arm, carl, never quite made a lot of sense to me the softbank thing i mean, arm is a platform company and in my mind, none of these acquisitions has done anything to make arm any better. so, you know, it's -- nvidia still going to make its case and we'll see how the regulatory environment plays out. but, you know, strange in a way for me to see this going and qualcomm still, qualcomm still fighting nvidia on this one. >> yes, yep. there's the uk and now the ftc, julia. and i ink think in time we've sn the analyst community throw in the towel and say whether it's valuation or strategic and make less and less sense as we go on. today citi takes it from 30% down to 5. >> yea

nvidia higher by 7 plus percent here today. >> yeah, and 15% off the intraday lows in two days. look, the fact that semis are closer to their all-time high than any other part of the market, so not only just the s&p but the triple qs and within two or three percent, i think semis are the ones to watch and semis relative to the s&p. if you wanted to do an smh divided by the spy graph you can see semis are arguably breaking out against the s&p through the top of a range they have hit a couple of times in the last year. so yes, i think the answer is i think there's room in a world where we've seen this, one of the reasons why nvidia is up 15% in two days is because the high multiple concerned market where growth is in question is going to get whacked. but if you stay the course here, this is still where you want to be buying growth in many cases maybe not at nvidia and i'm not going to lean on nvidia at a reasonable price, but i think you are getting in at qualcomm. i'm an intel shareholder and i do like this deal. this is 2% of revenues and could be 25% of market cap in return on

and nvidia, well, nvidia, my dog and nvidia, that is a chip company, chip gaming metaverse high performance computer and chip gaming, high performance computer we'll have to make a choice there. best buy, too many chips go into that so we're going to say no to best buy instead what we're going to do is we're going to put in -- let's go for something that is target, i pulled them up the other night. target is doing very well and instead of amd and nvidia, let's do raytheon technologies why am i doing these because i like what i heard today out of boeing. we've got some good china news coming but i would rather play with a more diversified way and you make those changes and then you are diversified. i feel like i'm compelled to make those changes after a day like today next up is peter in oklahoma. >> my name is peter chiles calling from tulsa, oklahoma the companies that i own are apple, scb financial, pioneer international resources, snowflake and molina health care hey, jim, am i diversified >> wow, this is what i'm talking. i'm looking for this kind of portfolio. snowflake, one of the gre

i think it's been an unbelievable stock just like nvidia and if you have an opportunity and maybe you have losses to upset it if it's in the foundation, it doesn't matter, but yeah, why not take -- profits are profit, right? an 80% on a company that has a cyclical component is never a mistake. >> thank you. >> on the part of the stock. >> did i say how good she is and how much money she made before the business i'm running the fidelity biotech fund and you were killing me it always drove me kcrazy. i'll just put my hedge fund into her fidelity >> stop. >> if you feel like you're in danger of being a hog in amd and take it off the table, why not a ford why not an nvidia. >> so i already did that one nvidia, that would be like killing my dog that's the toughest one. >> i have nvidia the second, and i went there i saw things and i went time traveling. >> i know, but it was year to date i am being a pig in nvidia, okay i decided i couldn't be a pig in ford anymore i couldn't be a pig in -- i could be a pig in amd and i admit to being piggish in nvidia because this could be a $10 trillion

>> they don't realize it's the seventh largest -- >> they don't know nvidia. they think nvidia is my -- it's incredible that jensen has put together this company that i think will rule the metaverse. that's my own view they're stick ig totally to the idea this deal will get done jensen that is ha avatar >> here we go again with the fast-food ordering i'm still trying to figure it out. >> you want to paint with me did you hear that picasso can teach you to paint in the metaverse? >> first of all, nobody can teach me to paint. i can barely sign my name. >> no, you'll be able to. >> i'll do the globe with shakespeare. i'll do that. >>> we'll get cramer's mad dash, and the opening bell still a lot of stock to get to and what munger is saying about costco today don't go away. what's strong with me? i know when i'm ready to run. what's strong with me? i can find strength in a rest day. what's strong with me? there are some nights i sleep so well... i'm ready for anything. find out what's strong with you with daily readiness on fitbit. >>> futures are higher the shor

if you're going to be omniverse, metaverse, you've got to be in nvidia everything starts with nvidia when it comes to the future and the omniverse. my take is this was not a big year for nvidia versus what i think will happen. >> okay. so more to come? >> okay? i mean, okay i'm saying, jim, that's for imposters, what do you do? okay >> got you right? >> how about this. ♪ hallelujah ♪ >> wow, that reminded me of the old squawk days. it's not bad [ laughter ] >> people didn't know what it was. i've got to tell you, we haven't heard from zuckerberg yesterday, but i bet you in the end, if you have the life-like avatars, the only play to get them is in nvidia i talked to myself when i was out there. you could not tell whether it was me i was brilliant, because he programmed me. [ laughter ] >> do we need to reboot? jim, you mentioned availability of chips and components. the commerce secretary was on cnn and said she doesn't think omicron will have a long-term impact, but we did have a lockdown in the chinese city yesterday. we'll be watching that closely. >> the chinese -- the gdp is

nvidia giving up about 3%. but if you look at the year to date changes for the names you see green on the screen. some best performers in the market can they keep that up into next year what the analysts are saying next ♪♪ this... is the planning effect. this is how it feels to know you have a wealth plan that covers everything that's important to you. this is what it's like to have a dedicated fidelity advisor looking at your full financial picture. making sure you have the right balance of risk and reward. and helping you plan for future generations. this is "the planning effect" from fidelity. ♪♪ in boxing or any other business, one day, you're gonna take a hit you didn't see coming. do you stay down? or do you get up? [announcer] and this fight is a long way from over, leonard is coming back. ♪♪ ♪♪ this is elodia. she's a recording artist. 1 of 10 million people that comcast has connected to affordable internet in the last 10 years. and this is emmanuel, a future recording artist, and one of

not everybody in the nasdaq is doing well pressure on nvidia, tesla, amd, lululemon. small caps coming back strong today up 2% after they were technically in correction. down 10% off the recent high dow with a gain of 642 points. ♪ >>> welcome to "closing bell," everyone i'm wilfred frost with sara eisen and mike santoli coming up, a portfolio manager buying stocks amid the covid sell-off last year with his top three picks for 2022 anastasia omarosa is still with us mike, a strong rebound, a broad rebound, and although fractionally off the highs of the day held the bounce. >> we did hold it. i think it's a net positive in terms of the bulls looking for evidence that this was simply another routine pullback with the drop in the s&p over a couple weeks did not really break beyond that most stocks corrected much more deeply than that credit firmed up it is a step at a time you have to point that out if you looked at a 10-day chart of the s&p looks like a down trend. we haven't broken free of that i think it is good news that the downside momentum is halted. seems a tre

those are the nvidia, the amd, the marvell, the broadcoms of the world. on the cap side,, that includes lam materials, applied research and tara dine. it will take a combination they're creating a deeper relationship they're really extending what it means for semiconductor companies to be more productive in this new cloud computing era. on the other side you also need the back end to come in and make sure that those products are designed and delivered with a great deal of skill and reliability. >> so it is -- >> i think it is a complementary approach >> what in a way though is a fair price to pay for a hot product? by product i mean stock in this case i look at, say, qualcomm, amd, nvidia all of them doing extraordinarily well but all of them perhaps ebxpensive dependig on how well you think they can do from here how do you judge what is a good price? >> sure. so the first thing i think we have seen in technology stocks is that what really drives them is the size of the opportunity and the company's competitive position and its execution and if you look o

under the hood of that etf, big moves from big names, nvidia, amd. how long will it last? they tell me they are getting a bit nervous, actually. there is growing risk, he says that some customers have actually purchased more than they actually need and won't order as much going forward. his check indicates that's particularly true for autos and pcs. piper says he agrees with that view, too long for some of the chip names and he says to look at sustainable, noncyclical areas for example, he likes semi companies that sell the big cloud giants and the big carriers building out the 5g networks broadcom and qualcomm. carl, back to you. >>> and muzuho likes the sector. bullish on names including micron and qualcomm. joining us, d.j., i'm wondering are you having similar trouble finding bargains in this environment. >> yeah, thanks for having me on, carl i think definitely 2022 should be a good year for semis i would be more selective, in the names you mentioned, the sections we like, like micron and vista. and qualcomm that you mentioned should have pretty good solid years in 20

what about nvidia as it's valued right now? $750 billion, you can kind of argue, you know, it's well off its record highs but is it all realized in the price already? >> so my view on nvidia, i move to the neutral and my concerns aren't really around the ai space. rather, i don't have a good grass up on what -- grasp on what the demand is going to look like i think that's fuelling some of the demand for their client graphics cards and what we saw two or three years ago is when the crypto market tumbled, nvidia also struggled with some loss of demand so that plus the valuation, that's what kept me on the sidelines, but you look at the artificial intelligence next year and moving forward, nvidia has established itself as a dominant name and space and i don't see that changing when and if -- i think they will play a major role there and so i think it's a great company. i think there are real significant demand drivers ahead, but i worry about that crypto space. >> we'll see what next year brings thank you. >>> as we head to the qu

larger names like tesla, adobe and nvidia ending lower by 10% or more. the tech software etf has fallen into correction territory. 64% of 119 components now trading below their 200-day moving averages. cloud names also seeing some selling. the cloud computing etf now on pace for fourth negative day in five led to the downside by z scaler, sprout social, all down almost 8% or greater. it is continue to be a rough environment for these stocks guys, i do want to point out softbank a company that i covered closely and it often does get hit hard amid these times of growth volatility because of the outsized bets shares in tokyo down more than 8% last night, down over 20% over the last week amid a slew of bad news for portfolio companies we have been tracking the last few weeks they will delist from the nysc we had alibaba's announced reorganization last night the growing unlikeliness of that nvidia arm deal. we've been here before, jon, but it is a reminder it's not just cathy wood and arc that made outsized bets on tech growth and that get hit hard in these k

i mean, nvidia is a great company, its been a great stock. netflix has been a great stock. the bigger question is not whether you should change these stocks, the bigger question is will these limited group of stocks carry the heavy water again in 2022 and i would say that's a tough call. lauren: what do you think about that, katarina? will these popular names, the narrowed leadership if you will of the stock market be a bad stein for 2022? >> well, lauren, to teddy's point, the valuations in some of these tech stocks are definitely something that we should be paying really close attention to , especially considering the unique environment that we're in. we have said that if accelerating the tempering is about to give us several rate hikes next year, and all of this is happening with the inflation being much higher than we expected, plus all the omicron, the related issues and risks so we are in the environment. we are recommending investors to be a little bit more on the defensive side and growth stocks because of their higher valuations, specifically some of the tech stock

some of the stocks like nvidia driving the performance in the smh or in the stocks, right. so to me i guess i am probably more inclined to go with the val auto with micron than i am with nvidia right now nvidia is in the midst of a big correction while micron is coming off the mat and it's up about 25, maybe 30% with these games in the aftermarket here. i would rather play for micron to 100 than nvidia back to the prior highs. >> we are just getting started on "fast money." here's what's coming up next. >> coming up, charting the sell-off where are markets going from here the chart master joins us next to break it all down plus, despite covid fears, one travel stock sees smooth sailing ahead. should this cruise be in your portfolio? stick around for that trade and more you're watching "fast money," live from the nasdaq market site tesque. we're back right after this. what if the next big thing was nothing at all? fivver freelancers turn nothing into something everyday, in over 500 categories. designing, writing, coding, creating. nothing. nothing. nichts. meiyou. today i re

generac is really good, and nvidia is really good. it's the cars, which is the met averse, which is gaming, high performance computer these are two great stocks generac, it was a stock we wanted to buy so badly you have a high quality nonproblem, not a problem at all. you keep doing what you're doing. i have to say congratulations on picking two winners. we got one out of two. you got them both. jim in wisconsin jim. >> i served in the u.s. navy for seven years. aboard a nuclear powered aircraft carrier you can see a picture of my ship and the plaque they gave me when i left my question considered two of the club's holdings. bolt of these companies are buying other companies both of the deals have been in the works for several months amd says the deal is going to close in december. nvidia says the deal is going to close in the beginning of next year i have taken some profits off the table, as the stocks have run up my question to you is, should i maintain these holdings or should i take profits and buy that cashmere sweater? thank you

we are going to end on a jim cramer favorite, nvidia, in 2021, soaring some 131%. remember n 2020 it soared 120% no surprise valuation here scares some folks on the street. others say valuation for tech investors is not a reason in and of itself to buy or sell they still like nvidia because demand for the company's products is still strong, showing no signs of abating. back to you. >>> 2021 it was a bit of a mixed bag for the faang trade, apple and alphabet outperforming the market but amazon and netflix lagging behind my next guest says there is a new acronym trade and he invented his own name for it welcome david. we have garp, fomo, faang, you came up with a new one what is the acronym and what are the components of it >> the act row name is ici it's sort of inintel, cisco, and ibm. but the theme of it is old tech. it's the uncool tech, the stuff that actually makes the world turn that is necessary for new tech and so much of our technology infrastructure, particularly in business enterprise but it has been forgotten because it does not have the fast growth rate

>> i'm going to go contrarian on this one as muchas i've liked nvidia, fade it. 70 times next year's earnings in an interest rate environment, that's not going to be great secondly, we already know what the company does and it's got a long runway there, but i'm not lewis and clark and i'm not discovering new ground and nobody else is, so absent any type of new product here i've got to fade it. >> trader fade nvidia. >> i'm trading this one and again, it could be a fundamental analysis there and it is expensive, but it's justified and strong free cash flow, balance sheet, expanding margins and the lewis and clark is the nft and the metaverse. this is going to be at the center of the whole infrastructure buildout and i want that exposure so i'm going to trade it. >> keeping this lewis and clark thing going. >> stevie g., are you trading or fading >> oh, man this one was -- i guess you can get on the bandwagon here. will be a fade for me and guy adami likes to look at charts as much as i do, and this one if you go back to 2018, this is a textbook double top. this one got all absorbed up

there you got to think apple, microsoft, nvidia, alphabet. we need to broaden the rally or everything goes down as it did today for a few stocks i may be more sanguine about this situation than most my travel trust owns these big cap winners except tesla i understand markets don't thrive when only handful of stocks lead the averages i think managers showed tremendous fear today that the move had at last gotten out of control and profit taking was there. especially after the robust opening. hence the brutal declines. they were worse at one point today. right now i'm of two minds about the situation. if you're managing money, you need stto show your client whati you own which means you can't afford or stray far from the winning stocks you might look like an idiot you show your investors you brought staples that only work well today or travel stocks like the arirlines or cruise lines that work between covid trains r -- strains the, we have a much harder time to gep it under management you're probably doing worse than an index fund. some share in

who will win nv nvidia, unity which creates the software to build. there will be a whole host of financial and providers including shoppify with two clicks you can buy anything you want to buy so yeah, there will be some interesting technology to come out of these in the private world. but many are already servicing, and again, i go back to the same example of adobe as we shifted from the old internet to the new internet they were part of that whatever your definition is. i think a lot of the companies will be along and be part of it. >> great to have you thank you. i don't think we as a group, i certainly haven't thought of adobe as a potential web 3 play, guy. i don't know how you think about it or if do you at all >> i'm still trying to think of web without the number on the back just web i mean you should ask dan this question you want to ask me who was on the gag line, the french connection, the buffalo sabres in the 70s, i'll talk all day. but nft and meta verse, web 3, that's outside of my scope >> all right jeff, i'll go to you you have membe

amd, monstrous in there as well then in nvidia, which when that hits, they come in in size and that's what we're seeing today so they don't seem to think when i say they, those that are buying these calls, they don't think this is something that's going to end today or tomorrow they're definitely looking out a little bit and expecting this to be a pretty strong week. >> do you feel though, pete, and we talked about this earlier on sid "squawk on the street," whether this is a last burst into the beginning of the new year before it gets real before we really start thinking about what a tighter fed is going to mean for the markets and multiples? >> i think there's something to that i was shaking my head in agreement. we are getting a big surge i know we're going to have tom lee on we were talking with him last week he was explaining a lot of what his opinions were going forward and i couldn't agree more. the reality is i think we're in an interesting market. look at the volatility index it was trading at 26 a week ago and we closed out the week under 18 the ten-year, went from less than

does that concentration in the outperformance in those handful of names, and then throw in an nvidia which is up over 100% this year, trading at a very high multiple of sales and earnings, nearly $1 trillion, do they worry you, and why wouldn't we see a 10% peak to trough decline sooner than q2 >> dan, you make some really good points. and it does concern us we're starting to see things that we saw in the late '90s the concentration. the other thing we're seeing is if you look at the consumers' balance sheet, if you look at the net worth, 24% of their holdings are in stocks the last time we saw something even close to that was the late '90s and the early 2000s didn't work out so well. we're also worried about pricing. we're getting anecdotal information is not the same price taker he or she was six or 12 months ago. if they're more price conscious, again, that gets back to multiples and margins and we have a problem going forward >> i get the concern about stocks, that's something i found very, very interesting, chris. but at the same time, the consumer also has a lot less debt than

federal trade commission has just sued to block chip supplier nvidia's $40 billion acquisition of uk chip design provider arm, says that it's preventing a chip conglomerate from stifeling the innovation pipeline for next generation technologies, this news, by the way, of course comes after the british government announced a full blown investigation into nvidia 's takeover of the cambridge chip designer just two weeks ago. the companies energy efficient chip architecture is used in 95% of the world's smartphones, and 95% of the chips designed in china, so arm is pretty much everywhere, nvidia had wanted to buy it. the ftc is saying no we're going to sue to stop this what is the stock doing? earlier at the open of the session, the stock had gone down to about $310 it went as high as i believe $324 it's right now at $320 and change for nvidia. fox business alert this next company not living up to its name, snowflake, red hot after the data warehouse firms third quarter revenue jumped 110%, beating analyst estimates. shares jumping nearly 15% right now, after snowflake cited strong consu

talking about the potential of the meta verse know that it's going to be powered by the likes of nvidia. it's the enterprise side that gets me excited. in order to help businesses come up with better designs and eliminate most importantly waste. it's one of the biggest stories for the rest of the century. what manufacturer wants to shut things down as it figures out how to improve the processes and waste less much easier to use a digital twin meanwhile, it won't be long before we have digital avitars i bet they make far fewer mistakes than humans speaking 28 different languages. i know the chips are what really matters. under the leadership of the visionary ceo, the company's leaving the rest of the industry in the dust. the next one feels a little trite. elon musk. with the exception of ford's mustang mach-e he took the stock from $8 and some change to $20 elon musk remains the king of electric vehicles if not the king of all tax paying capitalists. i'm joyful now fourth cramie, we often don't salute the oils. devon nergy. the stock jumped from $15 to $40. he's got the ceo title and he

antitrust officials are suing to block nvidia's proposed takeover of chip designer arm. the ftc says this would harm competition in the semiconductor market and would give nvidia control over computer technology and designs rival companies rely on to develop competing chips. arm is owned by softbank group and licenses technology to all the major chipmakers, including nvidia's competitors. coming up, we are joined by josh silverman, ceo of etsy. he will talk about the meeting with president biden to discuss supply chain issues, and the hottest items selling on the online marketplace. ♪ emily: etsy, the global online marketplace, is hot off the heels of the week's busiest shopping week. shares rose leading up to black friday, but have since retreated, down over 50% after the last seven days. josh silverman shared his take on why traditional retailers are struggling to navigate supply chains, and why he things etsy is thriving despite it. i will bring in etsy ceo josh silverman himself. you are coming off a really busy few days, black friday through cyber monday. talk abo

this is bloomberg. ♪ david: let's talk about this deal between nvidia and arm. u.s. regulators claim the deal would stifle innovation. peter, why don't you take us through. where do we start here? >> this is a pretty dramatic development in this deal where nvidia is trying to get control over arm. there has been opposition in other countries in the past. we have seen it in the u.k.. we have seen it in the european union. china certainly had hesitations about this deal and now you have u.s. antitrust officials suing in order to block the deal, so it looks like the chances of this deal going through are pretty low at this point. softbank had hoped to offload the company arm to nvidia, but arm holds a special place where it is a neutral company within the chip market that many companies use including qualcomm, intel, and advanced micro, so it's neutrality was very important to its success, and antitrust officials say the acquisition by nvidia, which competes with many of those customers, would jeopardize it's neutrality. rishaad: it is bringing also security concerns th

romaine: keep an eye on nvidia. it met pushback from regulators and the u.k. and the european union, the u.s. government suing to block that deal. nvidia was pretty much just a niche player in the semiconductor space about a decade ago. it now has pre-brought breadth across the industry. -- has pretty brought breadth across the industry. a lot of people saying allowing nvidia to buy arm is too much. docusign down 32 you -- down 32%. zillow shares slightly higher. the company finally started to unwind its bond buying business, also instituting a share buyback. that has given a pop to the shares. we did see a pretty big pop early today in didi. it has now reversed that and is down 9%. they will start the process of delisting from the u.s. less than six months after coming to the u.s., and list over in hong kong. keep an eye on that space. keep an eye on grabbed holdings, which had its -- on grab holdings which had its they view in the u.s. yesterday. uber, along with ride-hailing and food delivery companies, and focus as europe considers stricter rules to how th

take a look at nvidia. shares of that company climbing almost 121% on the year. marvel technology, nvidia up more than 80% year to date our next guest says stick with those winners in 2022. patrick moorehead. patrick, good to see you if you go back to the beginning of this year the headlines would have made you think that 2021 would have portended lots of fits and starts and uncertainty for chips as the supply chain issues dragged on, but that is certainly not what happened. what do you make of what we saw this year and what is to come next year? >> this year was really defined as growth driven by covid and stimulus checks. i mean, with everybody at home, every person in the house needed a pc people reupped their tvs because they were,again, not spending time outside, but spending time in their home. game consoles, pc games were essentially off the charts we haven't seen this growth in pcs in ten years it was truly incredible. even with those supply chain challenges, the semi conductor companies pulled in their manufacturing with sometimes upwards of 50% into 202

and nvidia have been cupople of the other one. and what's been interesting is how tesla has behaved. weechbl seen this amazing move over the last four trading days. when it got over 950, people were hesitant. when it got above 950, you saw more people buying it, up through 1,025. and people again became hesitant the price has a lot to do with it and tesla is really about confidence in inmarket, to me. >> we were talking last hour about an interview scott did with tom lee, where he talked about how the first half of next year might be more volatile and the second half, we could actually notched gains of about 10% for the year many say don't expect the same returns we've seen this year next year. 10% would be about half. but do you think we can compete the magic weec've seen in the markets in 2022? >> i think that's very likely. the market is going to power up to much higher levels than we're expecting. we're personally thinking high -- low single digit but when you look at the fed's policy, the economy is extremely strong, the u.s.

we'll end on nvidia. a remarkable run and jim cramer, and that stock up about 130% this year and remember, it was up about 120% in 2020. though surprise, some are nervous about valuation and is all of the good news priced in now, they wonder others, tech investors should not be buying or selling on valuation in and of itself he still says nvidia is a buy and demand for nvidia's products is strong and shows no signs of abating. back to you. >> valuation are a big question. i would imagine, jason snipe, people were thinking of valuations of these three stocks in particular, but others, as well in some parts of mega-cap tech because in our cnbc stock survey, when we asked people do you think apple will lead in 2022 58% said it's reasonable that the stock slows down what was the stock, up 50% this year 42% and it will keep growing and the stock will keep rising and it's a fairly even fight at least not too out of hand, what are your thoughts as we approach $3 trillion in market cap for apple? >> yeah. for sur

video actually -- nvidia actually fell from its high yesterday. intel up about 8%. this on the news that the company will list publicly shares of its unit first in my autonomous driving vehicles. flip up the board and another big reason why you are seeing this has to do what we are doing -- what we are seeing in the omicron space. good news on the vaccine front. this anti-body treatment is developing with vero -- viable technology in the u.s. and a changing of the guard at u.s. airlines. doug will step down and robert will take over. people become ceo at the end of march, start of payroll next year. tom: what is your study on the clothes in the afternoon? romaine: we are down to 23 this morning, say you are seeing a lot of that volatility in the short term. longer-term, some of the people that we talked to seem to suggest that we will bnn for a bumpy ride. tom: very good. she has had the courage to be in the market and informs us with absolutely brilliant charts. i guess it is once more in order. what is the most dangerous cliche right now? >> i do not know if it is

like nvidia, as you mentioned. amd and on semi just to name a few. chip investors know demand has been strong. on earnings calls, chip executives sound very positive and governments around the world that clearly recognize chips as a priority yes, shortages provided a tailwind for the sector, rasgon says there's a growing risk that some customers have now purchased more than they actually need and won't order as much of course going forward. he says his checks indicate that's particularly true for autos and pcs, so he tells me he has buys in what he considers safety plays like broadcom with its attractive valuation and record backlog and qualcomm and nvidia, where he says results couldn't be better >> we're not done with you yet, josh so stacy rasgon is a little cautious, but what about other analysts do they share his concerns >> well, dr. rasgon has covered the semis for a long time. i did talk to chip brysonat wedbush. he would say he agrees with stacy. certain areas, matt says certain signs of inventory building and other areas though, he says you

with this nasdaq hit right now as we just mentioned, down right now, worst day since september 28th nvidia falling on the block, alphabet and microsoft possibly heard by potential tighter regulations from european regulators and the eu continuing to monitor, and why are we seeing this broader sell-off steve weiss, let's begin with you. what are you seeing? >> well, i think there are so many crosscurrents in this, and i've been cautious and every analyst in the world who is looking at this year-end rally who means that the world's too optimistic and we've had a major change this week with powell from the fed coming out and saying, hey, you know, transitory shouldn't be in the language anymore and he doubled down the next day in the hearings when people were looking for somewhat of a backward pedal on, as i said i was doubling down. they needed a jobs number today where the top line number was amiss, a big miss. however, the underlying numbers were good. so if i sum it up this way, you've now got a market that is half empty rather than what's driven it which is half full you have multiples t

and then evercorps going in a different direction highlighting marvell, micron and nvidia chip sector rise by 13% year over year, julia we in particular had qualcomm and marvell on "techcheck" recently highlighting these opportunities, not just in 5g but in the intelligence edge as more networking capability comes into not just the cloud, but devices like cars on the ground. they see opportunities >> yes and we're increasingly going to be seeing more of these devices like cars be connected to the internet of things and we're talking about that more later in the hour but looking broadly at the chip sector it's interesting looking at morgan stanley's report saying the global is semi industry appears to be approaching the plateau, carl. the idea that there is going to be growth next year as people sort of catch up with the back log and then there's true growth in the second half of the year as they restock those inventories, carl. >> yeah, interesting yeah, a lot of the notes about 2022, guys, as it pertains to chips is that a lot of these supply dynamics changing in different verticals

the small bets they're making, talking about the metaverse licensing potential on that side i like nvidia there, brian >> michael santoli, looking at what you look at, talking to the people you talk to as well, is anybody talking up big tech next year >> i don't think it is the consensus for a leadership group, brian, which maybe is a net positive one thing i would, you know, remind people, i was looking at this the other day, the semiconductor index has doubled performance on the s&p 500 on a one, three and five and ten-year basis, of. the danger was overthinking it, thinking the world was becoming more siliconized the average s&p tech stock has done well, but the cloud computing etf is actually down on the year. i think you actually had a little bit of uncertainty run through some of the overheated areas of the tech masrket i'm not sure how it sets up for 2022 >> topic number two is the cruise lines at least today taking another hit. you have norwegian, royal caribbean, carnival, all lower today. scuttling potentially the end of some vacations at least four ships have been turned away f

i am also adding in tesla and nvidia on top of the big five. we have talked for weeks or months about the concern around that >> dan, what was your take >> guy brought up apple. we don't have to talk about the high growth on profitable names that crashed this year that's something that we have been talking about for months and months now we are talking about these megacap names, the names tim mentioned. they have been a huge beneficiary of passive investing. think of apple they ticked almost 3 trillion in market cap that marked a 30% increase in just two months. it's unsustainable when you think about it, people say that's value tech. you are telling me apple that is trading at 30 times earnings that is supposed to grow 2 to 4%, that's value i don't see it i see danger because people are making the same assumptions about microsoft or google. why do you think amazon is only up 3% and microsoft is up 30% and google is up 60% amazon is not considered value but a news flash, these are those unless the valuation framework has changed in the 25 years

dollar through the uup etf. >> big dog >> i'm going to give you nvidia. we had monstrous buying today. 29,000 giddy-up, this thing is going higher >> how am i not big dog? i like where you were going with the travel trade you want the domestic airlines down 33% from itshighs this year it's flat on the year. turn the page on the calendar. >> thanks, guys. >>> thank you for everything, all the insight on all the stocks thanks to watching "fast money,a cnbc special your money 2022 with wilford frost starts right now. >> announcer: tonight, new year, a new financial you. we take a glimpse at the year ahead. first up, a trifecta of travel how to navigate covid inflation and interest rates and then digital doldrums, has this said the stage for continuing a tech wreck in 2022. and do we stay in or out we go

double-digit returns for next year >> paul meeks, i see some of these names that you like, broadcom, nvidia, alphabet qualcomm, some of those names have been up quite a bit i wonder if you have any thoughts about what's happened to gross stocks over the past couple weeks i'm thinking c3 ai which is getting clobbered today. elastic, another cloud-related name had some good results. we got the ceo later this hour but also down significantly. how do you factor in those kinds of moves where you see bargains? >> i've been covering the tech sector for a very long time, as you know and of course i'm looking for sustainable, durable models. the problem with some of the particularly new-age companies, the ones that came to the market in the last couple years, some that you've mentioned, they've become so expensive. and the analysts that cover them and the portfolio managers that own them are requiring a diet of greater and greater growth and higher profitability and i think some of these companies really benefitted from covid, and now they're starting to see still pretty rapid growth but a growth de

josh, thank you so much your take on the space and micron >> i'm excited about the space micron and nvidia micron is a major player in memory and 5g to be part of the met verse and then nvidia with chip shortages but they have gpus to increase speed and part of the drive for ev. i think that the runway here is massively huge and on days like these these are names to buy on the dip and hold for five to ten years and think the performance is massive for the stocks. >> nvidia with gain for 2021 pot stocks are popping today after a dismal year. frank holland tracking the move. >> cannabis stocks are trading higher a potential for a salels bump from dry january dry thumb in the minnesota move. tilray up more than 4% a bit of a short lived turnaround for the industry. federal legalization remains unclear but stifle sees a good chance for the safe banking act to pass this year. wilf >> thank you jetblue canceling flights, no more than 1,000 through to mid january. anticipating a tight workforce amid the spread of omicron ceo robin hayes discussed whether he thinks the cdc cutting quarantine will

amd with a nice multiple given the growth rates and automotive that's a bold statement and nvidia and amd were smaller three years ago. people didn't know them as the juggernauts they are now and that's what they've got, time will tell and i don't want to trim from semis right now. i just see that as the railroads and the steel of this century the way those industries were in the prior century, so that's not where i'm going to trim scott. i am going to trim from the faang names starting with apple. i'll keep my overweight to cyclicals in the new year because for the full year, 2022, i see energy, materials, financial and industrials having the higher infrastructure hits and as the economy globally continues to re-open from o omi omicron and it continues you heard from apple and you will continue from your trading position just want to make clear what position you're talking about. let's show it to you, we're talking about approaching $3 trillion in market cap and we're not that far away, we're a few bucks from where we started the day today. 182, 75, somewhere around that level, so we

some names in etf, amd and nvidia up 50% this year. broadcomm hitting new all-time highs. investor demand is strong. investors sound optimistic where's the smart place for investors to commit call in 2022 back to you. >> thank you mike, to the point with the nasdaq not a record high again but the semis are. if you look at one-performance, pretty much every sector looking at 4% or so of gains other than real estate and utilities. this is risk on more than sector rotation. >> largely yeah. i think the market kind of bent a couple of times. once it seemed the pullback is not going to go deeper than 4% there's relief off the lows of the lows of 4500 now a year end grab for risk and set -- the scene was set by the liquidations from a lot of crowd and sort of speck lative positions and semis in the sweet spot with the secular thick working and what's fascinating is biggest specific call is semi group as an etf is up 40%. i do wonder if there's going to be a mean reversion within some of the hot sectors opposed to being the same winners. >> it is amazing nvidia up 140% or so for

adobe down 15% this week nvidia lower by 7% ty, back to you. >> seema, see you shortly. thanks very much >>> to fed governor chris waller speaking at an event in new york steve liesman joins us with the headlines. hey, steve >> good afternoon, tyler fed governor chris waller saying inflation is alarmingly high, persistent and has broadened some hawkish comments from the newest fed governor. he says an increase in the funds rate will be warranted shortly after asset purchases end. they end in february, early march. it does open the way from his opinion for a march rate hike. the omicron variant is a big uncertainty in the fed outlook, could go either way, more inflationary or more declines in demand he still expects inflation to moderate next year but he is closely watching inflation expectations on the economy he says it will continue to grow very strongly through the first half of 2022 he is also optimistic about the employment outlook real quick, tyler, i want to show you what is happening to the march probabilities for a fed rate hike. they've gone up. they're near ab

>> relevant people try to defend it the low today is $1,000.21 nvidia is interesting. that's the level to blow it through on the upside with that pile-on in the options area. sure there's plenty going on on the fundamental side and china talk and the rest but tactically speaking it is under pressure with the stocks owned by the same people. nvidia and amd are the weak links in semis today with broadcom and texas instruments doing well >> we'll watch them. broader markets final hour of trade is okay. >> firmed up the s&p above the prior week's low. a net positive take a look at the breadth quite negative on the new york stock exchange that is not able to turn usually can't very well. take a look at the hotel, leisure and travel names pej etf. i think this tells the story of the week and not as if you toggle one to the other. we both think there's a chance that travel is impinged and the stay at home stuff is not working anymore. that tells a part of the story volatility is agitated into the mid-30s today. a mark of real stress and people forced and blown out 30 going in

i was looking forward at the multiples, nvidia whose automotive business is relatively small, there was momentum in other areas. qualcomm is at 16, intel is at 13. the other ones don't make any money yet. these 13 forward earnings for intel, there is value to be unlocked. emily: how do you see mobileye competing with other electric car companies out there? who will the main competition be? dan: the nice thing is the teslas, the rivians, those are complete automotive solutions. they have assets, it is not just the semiconductors. by 2030 could make 20% of the billable materials for a vehicle. they shipped 100 million of their iq chips. they are already in many of the well-known automotive technologies. they are doing robo taxi. there technologies can be adopted. competition from qualcomm, nvidia, tesla that are building their own, but there is a huge market to address of legacy and up-and-coming av and ev manufacturers that will be looking for the technology that is available today. as we move into level four and level five full self-driving, that is something that they will be well prep

not nvidia, but apple and microsoft not as strong. perhaps the last couple of months but a lot of interest as we head into 2022. you know, josh talked about a lot of these reasons, apple, 42% of the revenue is coming from the phone. 25% from their services, 27% actually from their services, you are looking at that saying is there any reason to believe these two revenue streams slow down i think that the answer for most people is still going to be no i know that you know valuations for all three of them as josh mentioned is something to look at we're coming off our 70th record close for the s&p 500. i think there has took note of caution overall, going into the year that's going to be difficult to duplicate these last three years >> are you clients showing any caution, j.j.? are cash levels relevant to history? >> yeah. if i look at where our clients are in terms of their exposure to the mark overall, will, they're not as high as they have been earlier this year they're just above average i would say. and you know that's paid for them

companies, besides nvidia, who will take a certain view of it. they will see that as an anticompetitive move because if nvidia has a control of arm, that means it has a control of the key supplier for chip and the companies don't want them to be in the hands of one of the biggest competitors. for softbank and nvidia, the ceos have from the beginning said they are confident no matter who the regulator is that takes a look at it. u.s., europe and china both indicated they will take a closer look at that. rishaad: that is indefatigable optimism, to put it diplomatically. softbank initiating this trillion yen buyback. it has gone down 22% in 10 days. vlad: the buyback had the desired effect. it was overweighted. investors had looking forward to it and it did damn the share price. but softbank goes as the tech sector goes. the company is talking about the long-term future and investments and so on. it had the desired effect, but until messiah station completes the arm sale, he can't really do much more other than just hope that the tech sector recover

these three have a lot going for them away from data centers, too, especially amd and nvidia marvell has good 5g, too you're given a chance to buy at fed and omicron induced discount i've been telling the members of the cnbc club to do. join that. why not? apple, sky exclusions, broadcom, and skyworks, close to being acquired by amd. most care about apple. who can blame them but i'm making assumption that business is even stronger than i thought at apple my goal is show you how far reaching micron is, can carry whole market on its back, particularly the micro techers apple, want to zone trade it best for last, micron made tremendous inroads to auto industry, particularly electric vehicles with batteries and autonomous drivers that need content. sanjay predicted end to most auto related semiconductor shortages early as middle of the year, this is gigantic this is just gigantic. until this conference call anyone who suggested the shortages would be over soon would be accused of being out of touch of reality but micron straddles every rung of things. major implications for a ton of indu