welcome to power lunch, everybody. so glad you could join us. leaders turned to laggards. it's been a nice start for the migrants -- markets. tesla, down 35%. we will drill down on those names and what they mean to the market. >> it is never too early to start investing. a powerful increase in accounts set up for children! we will talk to one teen

investor. plus, we get a look at the markets right now. that is a lot of red, folks. s&p 500, down a little bit more than that. the nasdaq composite, down. the company beat on our earnings. the guidance, or lack thereof for the coming year. we've heard a lot about people photoshopping their pictures. it is not clear how much money adobe can make off of that. right now, its shares off by almost 15%. down 14.25%. >> he is managing partner at the cla and a cnbc contributor . good to have you with us. it's been a pretty good start to the year. >> it has. it is nice is to see the rally broadening. >> so it is not just the less than magnificent?

>> no, what you are seeing is at least the breath of the market improving. you are seeing other areas attracting capital. whether it is in commodities, healthcare, financials, industrials. i think you are seeing some of those sectors that have lagged. and they are actually doing pretty well. i think that combination, along with the overhang. >> we talk about the magnificent seven becoming the magnificent five. let's bear down on that. two names that are both having a rougher start to the year, apple and tesla. here to help us dig a little deeper in what is going wrong, senior i.t. and hardware analyst. tony, welcome. good to have you with us. why don't we start with tesla? what is going on there? smith the company entered the year with a very rich evaluation.

it is in a period where it may not grow much. last year, earnings were down. this year, earnings were very likely down. this business might not even grow. unfortunately in 2025, it is likely to be the same. this is the pending on where the numbers are this year, somewhere around 60 times the learning. you are talking about how there have been shifts in the magnificent seven. i think part of the reason for tesla, you are seeing the investors, neither are growing this year. it is tough paying up for companies that are growing. there is clearly, you know, concern for tesla in the mere to medium-term about the ability to grow. >> they seem to have put a lot of emphasis on lower-priced

automobiles, including a new model that is coming up next year. model two, if i have it correctly. do you think going down in price is a long time -- long- term when that for this company? >> tesla absolutely has to make the cards more affordable you know, right now, they are largely a $40,000 and above. that is a relatively narrow market. their aspirations and evaluations suggest it will be a dominant car company. potentially as big as, you know, toyota or foltz wagon. -- volkswagen. you have to be dealing with a broader range of consumers. it absolutely has to go down market. it will take some time. it will likely only give you at the end of 25, some time to

ramp that. they might not see real volume benefit until late '26, or even 2027. >> is that why byd is outpacing tesla? they have a lot more models to choose from for a lot different consumers? >> absolutely. tesla really has four models in two of them are above 70,000. be why the -- it is under $10,000. they largely play in the chinese market. offering a full suite of products from low-end to more expensive ones. they just introduced a luxury car that is over $150,000. they are providing enough choice to offer the entire marketplace, which tesla is not. it is really playing in the luxury market at this point.

>> what about the idea, you see the big for four talk about it. at least temporarily until the next wave of ev commerce, or maybe those that have longer distance. is that part of what is affecting the tesla's of the world? and what you call the legacy automakers. >> i think it is affecting the broader marketplace to some degree. we still think they will be 70% of the vehicles sold by 2040. we still expect hefley -- healthy growth. you know, there was a slowdown in this move to hybrids. more broadly, yes. there has been some recent movement for consumers to want to buy, you know, hybrid vehicles as opposed to pure electric vehicles. i do believe it is ev costs come down, and he ranges are

improving, charging infrastructures are improving, that ev's will be the dominant form going forward. the broader issue is really tesla specific, and not having the model range. >> let's pivot to apple. you mentioned the problem with apple is no growth this year. does that mean we have to wait until 2025 for an iphone refresh cycle to come online and give the company the boost we've grown accustomed to seeing from them? >> yes, tyler. 50% of their revenue come from the iphone. that is also really important in driving apple services revenue. to some degree as iphone goes. in the last couple of years,

the iphone cycles have been very weak. certainly, we think there is potential for a stronger cycle next year. many upgrade it with the 5g phone in 2021 and 2022. haven't really have an imperative or need to upgrade then. but if apple is able to come out with a compelling iphone, and we do think there will be ai capability on the next iphone. that could stimulate upgrades and lead to a stronger cycle for apple. directionally, we are optimistic that the sales on iphones will be better. >> apple down 1% today. we appreciate your insight. we talked a lot about the mag seven and their big run-up. he liked that the rally has broadened out. does it concern you that these two big mainstays are not having that big chuck foer?

>> no. if you look at it, you take a step back and look at it. their market caps are bigger than the whole energy sector. at some point can it still be there compared to the rest of the market quick these are still good companies. take for example, the s&p. i do want to play in other areas of the market, too. a company like a disney, or a j&j. are even your parent company, comcast. the next 3-5 years, the opportunity exists in some of the other stocks. i do think your opportunity to grow is better somewhere else. megan what about other commodities? how appealing is that? >> i think commodities are very interesting part. the second part s the demand for copper. we haven't built a copper mine in 10 years.

it goes into the ev's, all the data centers. ai chips are being used. look at all the new housing that takes copper. that is another example. again, a diversified portfolio they get you exposed to other things that are growing. >> when you get asked by your clients and customers, why do you on this? did they ask you that? >> the question we get, why did you sell my -- you get back to that and say, hey, listen, nothing grows on the trees. the question is, what is the risk here? i own it. smack it has is grown beyond where you are comfortable. >> 2022, the stock was cut in half.

next week, they will have their conference, talking about where they are going to be. i'm giving you the case. then all of a sudden, meta says , we don't need that. and that kind of goes down, then your margins start going down. what happens if it goes down? you want to own part of your pro-folio, but say, hey, what are the other things that will work? >> portion control is what we are talking about. smith history told you in '99 what happened, 2009. same thing during covid, as well. >> a little ozempic on the nvidia. >> that means you can still eat! to making applying for gnancial aid easier, however

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welcome back to "power lunch." despite a month-long delay of the application, the rollout has been far from mood -- smith. only 5.7 million fafsa's have been submitted . new york times out with an article, stating that many are now taking the proactive mood -- move. allowing more time for the government to sort the issues out. and the students and parents to make a choice on what the cost might be. joining us, sara. she is the founder of application nation, and the

author of sound bite, the admission secret that gets you into college and beyond. there is a lot there, ara. welcome. glad to have you with us. so what has gone wrong? i can tell you, it is mildly frustrating to deal with fafsa and the website. what went wrong? >> yeah. i have the high school senior, too. this is all coming from the supplication act. it is really the fafsa complication app. mistakes in the actual formula, glitches. families were not able to get through the full fafsa. it has caused tremendous delays, both for families and for colleges. they are not able to deliver financial aid packages to the students who get submitted. >> it looks like they cannot even accept all the applications. i mean, if you have 5.7 million

applications coming in with 17 million expected annually. >> you go on and it says, oh, i'm sorry, we are doing work on the website right now. us expected it they are expecting 17 million, i bet you a hunk of 17 million are trying to make it work. only 5.7 million have only gotten to the finish line. >> i think families got scared off. i am worried that students will get admitted into college and they haven't applied for financial aid. >> so they will have to make a change not knowing what their financial situation will be. >> so many families are now focused on the outcome. i'm sending my child to college. when you see the price tags, are you seeing something changing there in the landscape >> the price tags are into the

70 to 80,000 range per year. those public universities are a steal most of the time. a private research university, 83,000 plus a year. the university of georgia if you are in state, 28,000. even if you are out-of-state. you will be paying about $48,000. those public university price tags are looking a lot more attractive. >> financial aid is a big part of how families afford college. also scholarships. do you have any advice for families who might have to put the financial aid part on the right for a minute? >> not every college and university will offer merit scholarships. i will say, it is a buyers market right now. every day i have one of my students tell me, i got it made

it, i got a merit scholarship. out of the blue, some of these universities, both private and public, they are giving them another $1500, another 5000, another 10,000. that indicates there is a lot of uncertainty on the part of families. especially with the fafsa. but even more ith the colleges about whether or not they will be able to. >> when will the colleges find out? or get the information they need? that's been delayed, right? >> we are hearing mid-march. we are right there. that is a quick turnaround. most of the results are happening right now. and that may 1st deadline is approaching. >> question number two, what advice would you have for parent like me who is in the middle of this, and is struggling to get the computer

program to work for them? just keep persisting, persisting, persisting? or what? >> you have to have a lot of luck and patience. two things i don't have. >> i truly believe things have gotten better in terms of filling out the fafsa, but i think we lost so many families in that early stage when they went on, struggled mightily, and said, you know what, i won't even give it a try. that is unfortunate, because this was supposed to bring so much more money, especially to students who needed it the most. >> thank you very much, sara. we will have you back. good luck to your daughter. >> same to you. >> more and more teens are getting into investing. one investor who decided to ve ely.

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we are finishing the week above $80 a barrel after roughly 40% gain on the week. there he goes. >> we are of 4% on the weekend.

it took us so much to get above. and telling cnbc this morning that everything is going right right now. we have a drop-down as the ships are rerouting. also a global demand outlook. things are going very well. that is supporting the price of what we've also seen this week, raising their demand forecast for the year. and we've seen an uptick in ukraine targeting russian infrastructure. they have set those up. there have been a co-attacks. they account for about 20% of russia's output. it hasn't all come off-line. not all of them. 3 of the 8 have a difficult drop-down. they are trying to target russia's key revenue source. this is for today and for the

week. the refiners continue to lead the way. bank of america did upgrade. one under performer is eq t, down 10%. they also did -- earlier for the pipeline. >> we will leave it there. thanks. let's go for a cnbc update. ukrainian officials say at least 20 died in the attack in the city a odessa today. local officials say the two russian missiles fired from moscow. it hits a residential area. it destroyed at least 10 houses, a three-story building, and other infrastructure the president biden hosted the irish prime minister today . it was overshadowed by the countries different approaches to israel. the irish leader used the

sitdown to push for a permanent cease-fire in gaza and discuss the humanitarian crisis there. he says he agreed more needed to be done. the international fund is investigating a cyber security breach first detected the 11 account in about everything. they did not belong to any of the top officials. thank you for that. the senate pushing he brakes on the plan. if it was to strike fear into china, that didn't work. soma

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the future of social media at mac tiktok still uncertain. the chinese government is signaling that it won't allow the sale of tiktok. in the meantime, the bill still heading for a showdown in the senate. what are the implications of what china is now saying? >> china would not make this easy. tiktok investors, many of them want to fork off tiktok from its owner, bytedance. it was developed in china by bytedance engineers. that is the secret sauce . that has made tiktok so popular. china is essentially saying that washington is using a robbers logic here. they see something good, so

they just want to take it. that makes it very, very unlikely that they would just let this go. how could he do that? through its export control list. we were talking about this during the trump administration, they wanted to put something together to potentially by tiktok. the communist government added content recommendation algorithms to that list. it would essentially need beijing's approval for any kind of technology transfer or sale to go through. as we've heard, that is increasingly unlikely. they say they said play by the rules and restrictions. >> so if you don't get the source code, you don't really get tiktok, is what i'm hearing you say?

and secondly, if it were to remain as part of a chinese -controlled company, with that, while the rest of the company is american-owned, with that solve the problem here? >> i've been having this conversation a lot. i hear two different opinions. some say, sure. if you take off the u.s. tiktok side of things, you could hire a really good -- to replicate it. a lot saying that would be nearly impossible. why would they let them go? why's it so difficult for meta to get it up and running. they have very different views on privacy. part of the magic that is tiktok

and why it has become so popular, it was built in a different environment. it is the question, what is it worth? >> be sure to catch an important interview today with investor keith rabois. he threatened to -- to vote against the tiktok band. a news alert on sam bankman- fried. >> the sentencing request in that fraud case, this is from the u.s. district attorney. he says, while the guideline sentencing would exceed 100 years, that is essentially a life sentence. the sentence of 40-50 years is necessary. lowering the guidelines, they go on to say that bankman-fried is deserving

for his role in historic fraud. the government urges the court to impose a sentence that underscores what they call the remarkably serious nature of the harm to thousands of victims, and prevent this defendant and anyone else out there. it would send a powerful signal, as they say. a reminder, bankman-fried was found guilty on seven counts. >> at his age, 40-50 years would still be essentially a life sentence. still ahead, team trading surge. some are seeing big returns. what can the grown-ups learn from an 18-year-old making b ig money moves? that's next. ♪ ♪

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welcome back to "power lunch." sometimes, they use that tech productively, such as investing

early. a recent study found nearly a quarter of teens have already mistaken the markets. of those that don't, 90% plan to start investing in the near future. my next guest, he put his bar mitzvah funds at work during the pandemic when he was just 14 years old. joining us now, ian. he is a teen investor. and has that joins us, as well. david, thanks for bringing him in. what was your interest in investing, especially in equities? >> i was interested because my dad had always been watching cnbc and talking about it. during covid i was bored, done with video games and facetime pulse. there was a a book sitting by my bed. i picked it up and read it. i

fell in love with it. i learned about outpacing inflation. >> how much money did you have to start? >> i think i had a few thousand dollars to start. i had some money from my bar mitzvah. i started doing jobs and other stuff. i stopped going to starbucks and did other things to save my money. >> in what stocks have you seen the most return? >> in video stocks. my dad helped me into that one. >> he was big into video games back then. we bought nvidia. >> the games that you are passionate interested in to where you can put your money to work. >> yeah. that was a great idea by him.

turns out now they are not really as big into video games now with the ai demand, but it just shows investing in things you are interested in. >> how much has your dad helped you? and david, for example, did you look over his shoulder and say, don't put your money into that one. maybe you should look at this one. how much did you steer the process? >> when he first began, i overlooked every trade, told him what i think in my opinion kind of thing. over time, i let him take the reins on the account. he really understand -- understood what was going on, how to manage money. he does all this trading on his own. mchugh says you are up to hundred percent? what is your underlying in investment philosophy?

apart from just making a butt load of money. >> my philosophy is to invest in things that interest you. trends that are going on, that interested me. i know diversifying is big. i've done that with the s&p 500. i try to find stocks i can fall in love with. but understand the business model. >> what are the things you recommend looking for new ideas and researching. what can they do that will be easy for them? >> i will look at trends, the more you learn, the better off you will be. just lose -- just use all the

resources you have. even if you don't have much. investing in the s&p 500 is a way to go. >> how has investing help prepare you for college? what have you learned that you think will be helpful? >> i felt like i learned in society, you can really build your wealth by just using your brainpower. just being smart about it. instead of going off o college and spending all this money, i could be saving it, utting away, investing for my future, my kids' feature, and for retirement. reducing stress on me financially. >> you got a long time before retirement. a long time. >> but it goes fast. >> it does. >> one thought on using youtube here. i've used it for surgery. how i could perform my own surgery. don't do it at home. >> he really speaks highly

about you guys as parents, giving him that opportunity. thank you so much. still ahead, adobe shares are up as they warned of soft shares ahead. as a celebrate women's heritage month, we are sharing the stories of some of our newly named cnbc game changers. here is jessica berman. >> at the age of 16, my career ambition and career goal was to be a commissioner of a professional sports league. i felt very proud i was able to achieve that. we are at this extremely pivotal and transformative moment where the world is recognizing the value of women. i'm just really humbled and appreciative of the opportunity erhihine a light on our league, evytng we've achieved, and what is to come. bring your tras on thinkorswim desktop

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and environmentally friendly for everyone. get the facts at propane.com/now. we are taking a look at some of the movers. here is our trade cnbc contributor. first up, we have mcdonald's

down nearly 1% today after the company suffered a global tech outage. what is your take on mcdonald's today? >> i think this is a one-day affair. they will fix it. essentially the most profitable company in the business. 85,000 per employee, versus 11,000 in starbucks. take a lot of lessons from starbucks. i think that will improve customer loyalty and ordering. the model they will go to. in my opinion, i think everyone will go for that model. i think they will go like hotels. to book your meal, 2 for 1

ahead of time. >> we will all eat lunch at 3:00. would you think of mcdonald's? >> i think it is a well ran company. i want it to come down a little bit as a value to get into a. a very good company if you hold it. >> i hear the emerging things about evaluations. >> let's move on to shares of adobe, down 14%. the company announcing a $25 billion share buyback. what is the trade on adobe? >> it is actually -- it s definitely facing a lot of headwind going forward. it is a dominant player in the creator economy. there are lot of competitors nipping at its heels. at these levels, it is very expensive.

this is a good way to get a foothold. >> it is not as expensive as it was yesterday. >> prior to yesterday, it was up 80% calendar year to year. i think fabulous company, great management, great ceo. i think you wait for a better entry point. you get a moment some investor base that might not want to hold for the next few quarters. this is on my watch list. i want to own this at some point. >> shares are up today after the beauty retailer announces -- what you make of that? >> i think asking two guys what they think about beauty is problematic at best. i will give it my best shot. ulta is facing a couple of headwinds. right now, it is a great company, tremendous. it is still growing. here is the problem, the growth is actually slowing on all key metrics.

operating earnings, all of those things are diving lower as a go forward. coming out with some fora and some of the online brands, it will be a little tough or them. i will stay steady at this point rather than take a position at ulta. >> a little tough especially for a stock like this. you have comps that are good. people went back to work. i think the earnings growth is not going to be there for the stock. >> all right. >> the macro component that, you know, we may be seeing peak investor spending at this point, and that could weigh down them going forward. that's another danger point. >> thanks, gentlemen. thank you. still ahead, the weight watchers ceo looking to rally troops as the company faces major roblksadoc. we'll share details. let's check it out. says here it gets plenty of light. and this must be the ocean view? of aruba? huh. this listing is misleading. well, when at&t says we give businesses get our best deal,

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they're waiting for you. hey, do you have a second? they're all expecting more. more efficiency. more benefits. more growth. when you realize you can give your people everything, and more. thank you very much. [applause] ask, "now what?" here's what. you go with prudential to protect, empower and grow. with everything you need to deliver, you guessed it... more. one more thing... who's your rock? learn more at prudential.com we've only got a few minutes left in the program and several more stories to tell you about. let's get to it. weight watchers' ceo sent a memo

to employees reassuring them the company is financially sound, also saying its now glp1 weight-loss drug clinicals business is growing faster than it said just about two weeks in its earnings report. at that time it also announced that oprah winfrey is leaving the board in may, and shares fell about 20%. that stock now at $2.25 a share. it is under $150 million amid concerns about the company's debt load and these new glp1 drugs. >> you can see why employees would have the jitters and why the ceo might feel the need to reassure. march madness begins with selection sunday. women's college basketball, like women's sports more broadly, is surging in fan engagement, in viewership, and in sports betting. draftkings told us the amount wagered or handle on women's sports has roughly quadrupled over the last three years. even though women gamble, a lot in casinos and on line, about equal to men, when it comes to wagering on sports, american men

far outnumber the women by 95% according to a 2023 research report. the american gaming association says that number has grown. it estimates 26% of u.s. sports betters are women. penn entertainment, of course, spent billions ditching the barstool brand with it's bad-boy locker room humor and relaunching as espn bet. and in fewer than two months, penn boasted a 35% increase in women on its digital database over the previous year. bet mgm told me this year a 51% increase in the number of female betters wagering on super bowl, and why do you think that was? >> travis and -- >> there you go. >> taylor, travis. >> it was a super bowl romance. so what they did was they got women to sample sports betting, but you know what, now the sports book apps have to figure out how do we keep them there, how do we make them sticky. like the nfl, it's not enough

that you have a finish -- a fan, they have to be avid fans. >> you have to get them back again and again. like an adrenaline rush every time you do it. that's the magic bullet. >> we saw edward king who's the founder of aquias said on a panel at a gaming conference, look, we could have so much more growth in this industry if there were more focus on getting half of the population to engage in these platforms. and i thought that was really prescient and telling. >> you got to figure that women's basketball, the ncaa women's tournament, is going to get a big lift by caitlin clark. betting interests will probably rise on that. i bet the handle on those games is going to be much, much bigger than otherwise. >> and you see the surge on betting in women's sports, it doesn't necessarily mean that women are doing it. it does indicate that there is this raising tide that may lift all the boats. and look, it's probably good for the sports books' bottom lines if they can get women to engage.

you will see it with draftkings, fanduel, and great for women's sports. >> it's great because coming out of covid this was something that everybody could get together. you're seeing that with the wnba, with the other sports also. i think it's a positive thing. let's talk about bitcoin a little bit, proving again how will have tile it can be. the cryptocurrency trading at the 67,000 level after being above 72,000 just last night. you got a bitcoin. now it's up to 70,000. there it is. that's the kind of volatility you're going to -- how do you play bitcoin in your holdings? at all? >> so we don't. i mean, one of the things that's happened is we know the sec approved efts and bitcoin. so you've seen some advisers allocate it to their clients. i think it's still harder, the use case is still throughout. i think as more people try toing in out how to use block chain. for some people it's like gold. if i want to have gold in my portfolio i want a block chain. it's starting to get there. a lot of firms are starting to put clients there.

i think -- again you were talking about a scarce asset. that's the whole thing with bitcoin. so time will tell. apple reached a $490 million settlement to resolve a class-action lawsuit alleging that ceo tim cook deflaweded shareholders by -- defrauded shareholders by concealing falling demand for iphones in china. he told investors in 2018 he would not put china in the same camp as other countries facing sales pressures like brazil, india, and russia. apple told suppliers a few days later to curb production. you're seeing the fallout from that that his words had an impact and there will be a big settlement to pay out on that front. >> a half a billion dollars. big settlement to pay out there. very interesting. we had the segment with ian wineberg, the young investor. he has written a book, we forgot to mention it. there it is. it is called "invest early to grow your wealth." i'm sure it available on amazon and places like that.

there's the book. "invest early to grow your we wealth." he invests in things he knows and understands, products he uses. things of the -- the peter listen playbook. >> impressive young man. >> importantly if we see the surge in youth investing, if we see young people getting more educated about how to make their money work for them, that all of the companies that we talk about on a regular basis are going to be more interesting and have -- you know, there's more of a future when you make sure that the young people know what they're doing with their money rather than just spending it on stuff. >> yeah. i would say his college application process went well. he's a book author. he's made 4,900% in nvidia. i would think the raw school of business in michigan was an easy slam-dunk decision. >> by the way, he's not profiting off of this. the proceeds from the -- >> go to charities. >> exactly. >> very nice. markets now, let's check now on how we're looking. dow jones industrials now off half a percentage point. the s&p 500 aboutthe same.

and the nasdaq composite down 128 points or .8%. >> surat, great to have you with us. thank you for being with us. we will see you again soon. >> thank you for watching "power lunch." >> and "closing bell" starts right now. welcome to "closing bell." i'm in for scott wapner. this make or break hour begins with stocks struggling to keep their ahead above water for the week against the undertow of a bond selloff. the s&p 500 on the way to the seventh down day in the last ten. you see it off about half a percent now. though without much damage done in all. the index off only fractionally for the week at this point. and less than 2% from its record high. the ten-year treasury yield near its high for the year as the street absorbs higher than homed inflation readings in recent days, and suspense builds over the federal reserve's meeting and messag