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CNBC's "Fast Money"

“Sell it all!” Why the Chart Master Says It’s Time to Get Out of Apple 8/17/22

CNBC's "Fast Money"

CNBC

Investing, News, Business

3.91.3K Ratings

🗓️ 17 August 2022

⏱️ 44 minutes

🧾️ Download transcript

Summary

Carter Worth sending a big warning signal on one of the most widely-held stocks in the market. What he says is next for the iPhone maker, and what it means for the rest of the market. Plus stocks failed to rally after the Fed’s latest minutes from its July meeting. Former PIMCO Chief Economist Paul McCulley joins with his thoughts on the central bank. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0

right now and fast sell it all. That is a chart master's warning on one of the

0:05.7

most widely held stocks in the market. The name he's getting sour on and what

0:09.8

that means for the rest of the market plus the doubt breaking a five-day

0:12.8

win streak on the heels of the latest Fed minutes, but at least one top

0:15.8

economist thinks the central bank is making all the right moves. Former

0:19.4

Pimco Chief Economist Paul McCulley joins us with his take on what's next for

0:23.2

the Fed and later beyond belief shares a bed bath and beyond dropping late in

0:28.2

the day after a new filing from Ryan Cohen. What he is doing with the stock and

0:31.7

how the markets are responding. We get some answers. We also get heated up

0:35.4

about this one. I'm Melissa Lee. This is fast money life in the Nasak

0:38.6

Marketside in the heart of Times Square on the Destinite Tim Seymour, Dan

0:41.4

Nathan, Guy Dami and Karen Feinerman. We start off with the chart master's

0:45.2

big warning on Apple. His latest note calling an end to the tech giant's

0:49.6

eight-week run in which it gained nearly 30% and climbed within 5% of its

0:54.2

all-time high. Let's bring in Carter worth of worth charting. Carter, our

0:59.2

viewers know you quite well. You're a man who is level in your emotion and

1:04.2

yet this call went out today and it had exclamations in the headline and that

1:08.8

really caught my eye. So walk us through. Well, I hold on. Yes, but no

1:15.4

exclamation points. I hold back on those, but it certainly in fact is to

1:19.4

right sell it all is certainly definitive, right? And in fact, and here's

1:26.7

the thing. We know before we look at the charts, we know that what makes a

1:30.2

market is just exactly what you see in Apple. It's the largest stock out there.

...

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