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

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

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

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

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

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

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

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

i started selling puts in tesla. it didn't feel great when i started selling at 130 all the way down to 110, i was establishing a position. thank you to the folks on the other side of the options trade who said sign me we have the optimism to go back and fill about $180. yes, overnight, we did see tesla invest about $3.6 billioninto the gigafactory in nevada. and that isoptimistic and encouraging. i think a lot of people were looking for a buyback. tesla, elon musk is always the widecard i think this oversold condition, you're seeing the ability to look back. i'm going to have a tight leash on this stock. this is a trade, not an investment i'm going to be very considerate of what comes out. >> ibm plays in a similar space. what are you expecting from big blue after the bell? >> frank, you bring up a great point. this isn't a news flash. i think traders and investors globally have anticipated the price cuts, lower guidance, and even layoffs we saw that with microsoft look at the nasdaq last year it was the worst lagga

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

tesla rebounds after cathie wood buys the dip. we look at the bull and the bear case for the ev maker. generated tech. we discuss the risks and rewards for ai based platforms. but first, checking in on the markets. a topsy-turvy sort of day. we saw a breakdown in the selloff after two days, the s&p 500 up. similar moves, the nasdaq. big tech managing to push higher in the face of what was hawkish minutes coming out of the federal reserve. it really felt as though many were caught offguard a little bit about the determination of the federal reserve to crack down on inflation. it took the wind out of the sales of the market. this really seems to be more focusing on the data we got. slider inflation data is cooling. the beginning of trade. we also look at a very resilient jobs data. it makes many cautious to really be buying into technology. as we still worry about how much further the federal reserve has to hike rates. looking at the two-year yield. let's go individual. microsoft up by more than 4%. worst day since october. really s

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

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

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

stuart: let's get to tesla, is a nice time this morning, look at that, it is a 5.35 percent, 13 bucks and it's 157 all right, take you through the report. >> 102 okay, it is not about that report, hit is about everything that we said, elon musk about the future and rolled it down to re think some that's a huge demand for the vehicle workers are double production in the month of january, okay, it's a huge demand and yes because of the price cuts and it has hurt their margins at tesla but they can afford it and that profitability come up her car at tesla is seven times that of toyota, that's amazing and number two,. >> will that is impressive. >> he expects tesla to produce 1.8 million cars this year 37 percent more than last year and he can go to 2 million okay, number three, march 1st, and yesterday, musk is teasing this new vehicle platform and it would be off of the cost of model three and why it would be thomas, that would boost the margins. stuart: the investors like all of this up 99.7 percent johnson is with us this morning. guest: thank you. stuart: what it tesla's earnings mea

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

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

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

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

aswath damodaran. >>> tesla, speaking of, in other tesla news reports crossing this hour saying elon musk says an s.e.c. probe over his role in self-driving car claims. phil lebeau joins us now this is another potential s.e. ceo probe, phil. >> sure. yes. and, we should point out we have not confirmed that the s.e. ceo is investigating what elon musk may have made claims about when it comes to tesla's self-driving technology, often remembered to as autopilot he has talked about the ability for teslas to drive themselves for years. that is not new. the question is what exactly is the s.e.c. reportedly looking at is there a specific statement or statements it's unlikely that they are just going to probe him saying some day there will be self-driving cars it's was there a specific ford looking statement? we don't know at this point. one thing we can tell you with certainty and even tesla would admit this if you asked them, they do not have fully autonomous vehicles. they don't have them right now will they have them in the future potentially. but there is no guarantee of that and if at

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

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

the two biggest names, we talk about, tesla and apple, down dramatically tesla, as you heard there from kelly, production issues apple had to downgrade it was also reports yesterday out of nikkei about a lower demand for certain components. so the semiconductors are weak today. they were also big losers if the theory is, you know, the stocks that are down the biggest should be up, this is not working for the semiconductors today so you've got a little bit of disconkconcer disconcertation out there. remember, january 23rd last year, 2022, that was the all-time high. it was 4796. look at that, kelly -- we are -- >> wow >> exactly, a thousand points exactly, and that's -- do the math there, 21% lower than we were a year ago. >> bob, here's what's so troubling. so we know these things set the tone, right? we had all of these forces that should have given us a bounce here they've gone the fact that tesla has been moved through the afternoon and is now down almost 15% is one thing. people can go, yeah, well, it's a tesla story. apple is down 4% did you just show it at 123? >> yeah. >> riddle

officials in south korea announced they were finding tesla -- finding tesla for failing to inform customers about the shorter driving range of its electric vehicles in low temperatures. according to the country's antitrust regulator, the range appointed by up to 50% in cold weather. >> this is false exaggeration and false advertising of its electric vehicles. >> tesla had the worst year since going public in 2010 with its shares dropping by 65% in 2022 as investors worried about production disruption, slowing demand, and elon musk buying twitter. he has been mired in a series of controversies and missteps since his acquisition. >> in the united states all of the main indices closed in the red. shares in apple closed down over 3%. it will be cutting production to the weaker demand. those stocks will be coming up shortly. in europe, stocks adjusted to inflation data. this is down 10% in the recent month, the decline was a bigger than expected and was due to a subsidy from the german government, the docks and the frankfurt closing up over .5% and it was up by 1% at the close. the french prime

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

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

neil: i was looking at tesla, john. tesla down 14%. that tech selloff we thought might be sort of peter out after last year, where the nasdaq lost what, about a third of its value, resuming now. does it worry you? >> 2023 starting out pretty much like 2022 with very well-known tech names. tesla down 13% after losing 70 plus percent last year. what is worrying the market longer term given the turmoil in washington, neil, the fact there is no leadership on number one issue per perplexing the market, inflation. you don't have leadership. i think that is one of the reasons the market simply seems lost. most stocks below their 50 and 200-day moving average. neil: i was looking at tech stocks, the drubbing, think about it, rob, microsoft for the year was one of the better performers, down only 28% but alphabet google fame down 40%. amazon down 50%. intuit, down 40%. tesla itself down 65%. you would think that would be enough to say all right this is overdone, maybe not. what do you think? >> yeah. i was absolute bloodbath, neil. i think a lo

that's what makes tesla so interesting right now. toni, thanks so much good to see you. >> thanks for having me. >>> still to come we get earnings from our parent company comcast and master card and jetblue shares moving lower but that stock is up 27% this year we'll speak to the ceo exc exclusively. "techcheck" is just getting started. don't go away. dad, we got this. we got this. we got this. we got this. we got this. yay! we got this. we got this! life is for living. we got this! let's partner for all of it. edward jones ♪♪ for skin as alive as you are... don't settle for silver. harness the power of 7 moisturizers & 3 vitamins to smooth, heal, and moisturize your dry skin. gold bond. champion your skin. just look around. this digital age heal, and we're living in,ur dry skin. it's pretty unbelievable. problem is, not everyone's fully living in it. nobody should have to take a class or fill out a medical form on public wifi with a screen the size of your hand. home internet shouldn't be a luxury. everyone should have it and no

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

we saw last yea tesla that's right. we saw last year tesla made a record number of vehicles — about 1.3 million in the gear all up vehicles — about 1.3 million in the gearall up and vehicles — about 1.3 million in the gear all up and that is a huge 40% rise in the year previously. the problem, though, is the fourth quarter. we saw the inquiry into treasury laws amendment (electric car discount) bill 2022, the world's most valuable carmaker, more than 400,000 cars but it missed forecast. one of the issues is that of delivery. tesla has four different factories in the world, one in the us, one in germany, one in china but the problem is that is 30,000 cars in that quarter that they could not get to the customers. elon musk said he was going to see how they could solve that issue. the other problem is that of the forthcoming economic slowdown that everyone has been talking about as well as rising interest rates. we have seen the cost of borrowing going up. no—one wants to go and spend big money on cars like tesla s

unitedhealth might be the new tesla. tell me the top 10 companies by market value right now off the top of your head without looking? andrew: apple, microsoft, alphabet, amazon, berkshire hathaway, unitedhealth, jpmorgan. exxon mobil. jack hough: i bet you are right but it is surprisingly large. carleton: you need to pay attention to the big tech companies are increasingly competing with each other. you have things like who uses microsoft office versus google docs but over the past few months with microsoft going more into artificial intelligence with this chat gpt which could become a contender for competing with google on search. microsoft's being is an also-ran but this has the ability to search for something and doesn't just give you a list of options for what you might be interested in but the answers. jack hough: how many are growing powerhouses and advertising at the same time. amazon's huge advertising business. apple is strong in advertising. disney and netflix want to sell ads to make their suspicions cheaper.

how much tesla is up if tesla is up of course ibm is down >> right >> is tesla staying up, ibm staying down >> some investors look at that 12-month chart and say dead money is a good thing. >> exactly >> relatively speaking >>> let's talk about what's going on at meta where, like twitter did previously, they're reinstating the accounts of former president trump on facebook and instagram he was suspended just over two years after controversial posts around the january 6th insurrection i guess the question here, there's a couple of process questions, how do they deal with this in the future, but also the question, dom, of in twitter's case, am i wrong, he has yet to come on and actually tweet >> there's an interesting dynamic in that the backlash monk getting kicked off these platforms kicked off his campaign of trying to find alternative platforms and marketing them you think about truth social you think about -- all of these things are in play so what's curious about this is about whether or not, even though the account is able to be reinstated, whether they're active on it, because if

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

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