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Good monday morning. Welcome to squawk alley. Obviously watching the markets this morning some of the big tech stocks taking out their loss from friday as they are under pressure for a second day in a row. Analysts issued a rare downgrade for apple saying the stock has limited upside potential fang is under pressure we thought friday was a one day dynamic, some of these names are proving otherwise. A bit of a rebound, though, in tech. I watch a grouch tech stocks and i was looking at one points in the 10 00 hour there were about 39 of them that were down 3 or more im looking now and its six are only down that much. So quite a rebound i think apple is a prime example at the heart of this i take the point, bob pisani was saying earlier he doesnt understand why people say apple is overvalued. Theres this valley of doubt on apple that usually happens right around late august to late january people start saying oh, this iphone, this next one isnt going good enough. Theres never been an ipho ....
Answer to the question how long is this unravel going to last . First of all, these are intriguing levels. The problem is as we were talking about during the break before we came over is that we had some fabulous bounce offs in the morning, but anybody who bought those in the morning who was brave enough, it was scalped now and take period of time, i care more about what happens between 245 and 3. Its too early really got to be in there just wait a little this was a huge bounce if it gets ugly for these names they have the auto desk just gets such a great quarter. Theyve withbeen waiting and wag for people to fwif up. Amazon, 945, that was their wake up call. Went down to 100 that was a fanstic, fantastic call, sarge go forth waugt bought it at 945, but k i look at these, coming in at 699, we dont need another hero. You dont think theres a bigger thing happen ng the market that has come so many legs when you look at whats going on in the marketplace, you look at the dow, its trading up ....
Sunglasses he is wearing there. Or maybe not. I think people will buy them. Under armour making a big push into asia. We have more with the company ceo and with stef curry and live coming up. Sarah, staying up late with us. I told you, the da test that completely changed my life a couple years ago and the book i wrote about it, plug, plug, plug, today we are looking at big business of genome sequencing. The cost is plunging. But there are some people still willing to pay 25,000 to have their whole genome sequence. I noticed we dont have griffeth in quotation marks. Not today. I know who i am. And we will talk about the value of his company and latest news in drug pricing, joseph papa coming up next hour. Meantime, the stock market sitting here down 23 point. A lot like yesterday and all of the last several weeks here, the beige book out today which didnt enlighten us again too much about the economy. Job openings at a record high. In terms of some movers today, on the apple news, look ....
finally close above 13,000. nasdaq, 106% and unlike real life, i m talking tonight about the good divorce. with the dow breaking through the psychological crucial 13,000 level. i think a lot more moeney will e coming this market s way. it doesn t matter because it s a nice signpost and that makes it all the more important to search for future winners. that s why tonight i m looking for the next big divorce. trying to find the next stock that can work its way free from the shackles of marriage to the indices that can go off on its own and you need to pay alimony for that matter. in order to find the next one, you have to look at the positive divorcees that have already happened. the ones where the shareholders are happy and well adjusted and figure out what make the difference. let s start with the stock you wish you had today, the stock that s the perfect illustration of why i always tell you that equities could be among the greatest wealth creators out there. let s s ....