Doing right now. We start with the story of the day,pple unveiling the brandnew iphone 7. Were in San Francisco with all the details. Josh . Melissa, that iphone 7 does boast a lot of new features and functions. Among the most notable though, it is fast. Its a 64 bit, four core processor with over 3. 3 billion transistors. It is a rocket ship. First, it has two cores, that are High Performance cores. These High Performance cores run a full 40 faster than the a 9 chip in the iphone 6. If youre coming from an iphone 6 its twice as fast as the a 8. The iphones display is 25 brighter. The best camera exists out there for any smartphone and the battery lasts two hours longer than the 6 s. The biggest headline grabber no he headphone jack. You can use an attachment for a wired head phones. As for the watch it got an upgrade, this new version apple says is faster, brighter its going to run you about 369. Rbc estimates that to date, apple has sold some 14 million watches generating 5 billion in sales. Back to you. Thank you. Todays news had a greater impact on shares of apple suppliers and competitors, than it did on shares of apple itself. We thought wed do a game of count down here. Thats a new game. Three different groups, suppliers, competitors and of course apple. Trade number one. Apples chip suppliers feeling the pain after the announcement. Sky work solutions, analogue devices just a few that fell. A lot of these are running into the news. Look at logic and the other names that are feeding into the products, those have been on a ramp much more than apple itself. Many of them hitting highs. I think the most impressive part of the whole thing with apple is really truly about the chip. Not that theres a huge wow factor there. But the battery life i think is something everybody cared a lot about. And the fact this thing is faster and you go through all the different elements of what the phone will do now. Is it a great . No it wasnt expected. People wanted to know what can you do for us now. I think they addressed my Biggest Issue with the apple phones always has been the battery. So im happy. I need to trade on the semis. There is a lot more moving into this announcement than just this announcement obviously. There was a thought there was going to be consolidation, Western Digital guiding for fiscal First Quarter higher. That helped. I dont know if we have a chart. This stock has been a ballistic missile. This has been a rocket ship to the upside over the last couple months. The evaluations of cirrus lodging has to be through the roof. Its not that ridiculous at 13 times forward earnings, heres a stock that was up on a day. I think you continue to go higher. An alog devices are coming off a disappointing quarter i think. They broke out earlier this year. It seems to want to do a back and fill. What does it mean . I think you could trade to 59. It could be holding a trend line. Stay with cirrus logic and look to buy adi. Suppliers never seem to get the lift whenever theres apple news, maybe apple gets it today apple didnt. But suppliers usually dont see anything. Yeah, i think to petes point you saw a run up ahead of it. Its usually the same type of thing, the apple effect you see the run up to a release. Getting back to the Semi Conductors im on micron technology. Weve seen an incredible pop. And now you touched on it. In the space and has created basically a from a supply glut to maybe theres a little bit a gappiness or maybe you could see those prices improving. Im going to stay long. Im in the sell the news camp. Thats what were talking about. Thats what happened today. There was the anticipation you sell the news. What do you do with the stocks now . Lets take a look at nxpi. Around 80 it gets some support there. As it starts to come down, i know its 6 away. As it comes down i start to look to see if 80 hold. If you see volume coming in take advantage of it. And nxpi is in cars, credit card processors. Buttoning this up with a trade on the semis, you like them for a long time. Continue to. And its really interesting the other news of the night is intel spinning off mcafee. Theres all kinds of news going on in the Semi Conductor space. When you like at micron, theres been nothing but activity going in there. They had a poison pill conversation. Theres all sorts of different news sources going on right now. Look at just in the last five days its up a dollar. This is a stock thats 17. 15 up a dollar. Thats impressive. This is a stock from 13 to 17. I think and agree with you. I think you hold on to this, and i think it goes higher. I think it gets a bump up. Trade number two, some of apple competitors getting hit the hardest, fitbit, take a look at go pro down 5 today whats your take . I look at fit bit today. This is always that apple effect they could do everything better than anybody else can do. When i looked at the watch i wasnt impressed. Im along nike. It was a better tail wind for nike. I think thats a tail wnd for nike. Not great for apple. If you look at fit bit they do everything a lot better than apple with their wearable device. I would start to think that maybe theres mna around fit bit. Maybe you start to get a bit in the next couple days, weeks. I dont know. I mean, i wouldnt buy fit bit. I think apple is going to crush them on this whole type of thing. Fitbit is just a device. Apple can do the software, they have every single app. I thought the watch was the more interesting thing about the release. Because it is now you can swim with the watch. Doesnt mean everybodys going to go swim with it. But it means youre not afraid to wear it when youre doing activities. The person who owns the iwatch, its a different its a fitbit thats is an iron no. No. Why would you say that . Its a trendy thing, its a tech gadget that doesnt look the same way. Fitbit is a slap it on and do whatever you want to do. A fitbit is a commodity. You can go to best buy and there are 100 fitbits out there. With the apple iphone if it bekmb becomes more of a sports watch i am interested. The other competitors i would pick up is garmein. Youre a swimmer. You know i dont know how to swim. Her with the floaties . I technically know how to switch. I prefer not to swim. Semantics. Give me a trade. Go pro at the end of july was a 10 stock. That rallied about 55 to 60 , mostly short coverening. I think the shorts are out now. Starting to head back down. I think to 12. We can talk all day long is it viable, not viable. If you have these stock and havent seen profits, i think you better start tomorrow. Go pro is a short trade down to 11. Riddle me this. The iphone 7 one of the great features is the dual lens camera. Is anybody going to strap an iphone 7 to their head . What is the thinking behind bringing go pro lower in todays session in response to the apple needs . I think its one more shot towards go pro. I dont think thats a direct shot from apple towards go pro. I think they just for a long time have figured out that the phone is what everybody uses as their camera now. Because of that youve got the different features john talked about. Zoom and all the different color variations, all those things. This is truly a camera inside your phone. In the past it took pictures. Now its a camera that actually can be used very much like a camera. For that reason i can understand why john fort was so excited. About the iwatch though, the fact its water proof does mean a lot. I think there are so many people including my wife and others who have got this thing, they love it. They absolutely love it. But if it were waterproof they would love it even more. Youll get soaked when you have a waterproof watch. When you talk about go pro, play the show back. Youll get it. So when you talk about go pro strap it to your head, you have accessori accessories, this is what ive been saying. Go pro it looks like you have a rubics cube on your head. Theres nothing sexy about that. I do think apple is a formidable competitor to go pro when you look at the accessories. I dont think you could look any sexier with an iphone on your head. Thats a completely different issue. Anyway, im moving on. Trade number three, apple itself. For more lets bring in piper jeffries, Senior Research analyst, hes got a 151 price target on the stock. Great to have you on the show. So many people explain the iphone 7 is not truly innovative. But the key is, is it enough to propel the upgrade cycle . You think it is, why . Absolutely. Because theres about 275 Million People who have iphones that are going to be two years old or older and the street is looking for about 230 million iphones to be sold over the next year. And so this basically is a tidal wave of upgrades that are coming. The reason is that we depend on our phones and its such a critical part of our lives it needs to be upgraded every two plus years. What they showed today was as expected but enough to get the iphone franchise back to growth for next year. Okay. So youre expecting growth once again. In terms of exactly how many phones you anticipate . I mean, does what you heard today change that forecast . It doesnt because everything we heard today was it was expected. What its done is seen its confirmed. We have greater confidence well go from calling it down 10 in the last year to up about 10 for the next cycle. I think the substance of it and actually seeing it is confirmation. And at the end of the day, i think were going to be hearing about some pretty impressive preorder numbers this friday. Hey h its brian kelly. I know youre looking over a year theyre going to sell 230 million or at least thats what the potential upgrade is. Im curious, anything you heard today prolongs that period . It wasnt as exciting enough today to get people to go out next weekend and buy the phone. If not, is that a risk to your numbers . Theres going to be a group that is going to hold up until the Anniversary Version people are talking about. That group is still there. There is nothing thats changed our belief that there is this large pool of people who are running on phones that need to be upgraded. The battery just isnt enough. The camera is something, its not that there was a feature that was exciting enough. The reality is this is part of their every day lives and they cant go on any longer. So i think that that group is going to be really what powers this next upgrade. And we feel as confident about that group as we did two weeks ago. All right, were going to leave it there. Thanks so much for your time. Thank you. Okay, so gene, the upgrade cycle is going to be there. It will be enough to drive growth. Is it enough to drive the stock . Well, i mean, i think people are looking pete said yesterday there wasnt a lot of anticipation. The expectations were very low. And i think they exceeded those low expectations. The stock actually initially traded down, closed up on a day. Thats all you need to know. Youre through this the market has gotten what it wants, is it enough to get it to 141, i have no idea. Is it enough to get to the 118 level i think it is. You cant get too negative because of this upgrade. They have an in built Customer Base thats going to come back. Its got to break through 110 otherwise were in the trading range and you can trade it on sentiment. If it gets through 110 that would get me excite. 110 is the major spot to break through. What we havent been talking about is the end of subsidies. If you chart the stock from t mobile, verizon, telephone, the stock has made a serious of lower highs since that point in 2015. And i think thats worth looking under the rock a little bit more in depth. Because i think theres a big part of the calculus go s into that when the subsidies ended so did the rip of apple stock. Apple is expaeneding their upgrade plan. That is going to make up for that and they upgrade every year. Just speed the whole process up. Thats something thats going to build. And the one thing i stand by to this day, even as we have flat numberwi numb numbers. Services its Getting Better and better and thats the growth part. Under armour made a huge gamble on steph curry. Grocery stocks got crushed today and the sell off could be underscoring a broader trend in the economy. This man says stocks are in a dead zone and are about to see a pull back. How big, hell be here to explain when fast money returns. ] some things are simply impossible to ignore. The strikingly designed lexus nx turbo and hybrid. The suv that dares to go beyond utility. This is the pursuit of perfection. This car is traveling over 200 miles per hour. To win, every millisecond matters. Both on the track and thousands of miles away. With the help of at t, Red Bull Racing can share critical information about every inch of the car from virtually anywhere. Brakes are getting warm. Confirmed, daniel you need to cool your brakes. Understood, brake bias back 2 clicks. Giving them the agility to have speed precision. Because no one knows like at t. Hey, jesse. Who are you . Im vern, the orange money retirement rabbit from voya. Orange money represents the money you put away for retirement. Over time, your money could multiply. Hello, all of you. Get organized at voya. Com. Welcome back to fast money. Underarmour kicking off the top trades. Steph curry take a tour of taiwan. Sarahiz we spoke to them exclusively. Hear what he to say about making a bet on curry. I never forget before his first mvp run is when he said to me, hes like, give it to me. I got this. And thats a tough thing when youre saying we need you to go stare down the likes of kobe and lebron and these guys and say youre going to build a brand on your back and what you do. I think the last, you know, two years, three years of performance has been, you know, everything that and more. Stock is flat, pete. Stock is flat and 30 off a two week high. Theres issues going on. Look at nike and the competitors and all the rest of it. Nike still i love how you say it. Thats the fancy way of saying it. When you look at where the stocks are trading, under armour is high. They do have growth and theyre attacking where they need to be attacking. When you look at where they were with their shoes not too long ago, 2015. It was 18 of the revenue. Thats something that has to choin change. Thats where they need to know attack. The asian markets will be strong for them. It better be, though. Theyre doing all the right things to be able to compete at the next level. The evaluation i understand thats the the asian side of the story. 51 times forward earnings they better be right. I dont want to bet against steven plank and steph curry. That being said, if this doesnt work the growth doesnt justify the evaluation. It doesnt matter. Weve already seen the stock break here over the last year. So thats what concerns me. Doesnt matter for me because i go on the season alt. Under armor and you buy it against july performance. The average july performance is up 10 . Calculating over how many years . Five year average. Go to nike which is the reason why i got along last week. Nike september up 7. 3 against undera underarmour. Buy it july and january. This is as critical an Earnings Period than in quite some time. Evaluation, absolutely. 52 times forward earnings is expensive but it was expensive when the stock was going ballistic. What concerns me the most, margins have been ever so slightly decreasing over the last couple quarters. If they can stem the tide and get margins to levels we saw a year ago i would be more optimistic. Still ahead shark tanks kevin oleary is on the prowl. Hes pushing the buy button on one Surprising Group of stocks, hell tell us what those are and why he thinks they could be the s p 500. Im melissa, youre watching fast and money on cnbc. In the meantime heres what else is coming up on fast. Pretty much sums up whats going on with grocery stocks. And it could be signaling a broader trend in the economy. Well explain. Plus. And heres what Jp Morgan Says is about to happen to the market. And the man behind that call will explain why. When fast money returns. Everyone thought i was crazy to open a hotel here. Everyone said its so hard to be a musician, but i cant imagine doing anything else. Now that the train makes it easier to get here, the neighborhood is really changing. Im always hopping on the train, running all over portland. I have to go wherever the work is. Trains with innovative Siemens Technology help keep cities moving, so neighborhoods and businesses can prosper. I can book 3 or 4 gigs on a good weekend. Im booked solid for weeks. It takes ingenuity to make it in the big city. Welcome back to fast money. Were keeping a closer eye on the entire grocery industry. Thats because one of the higher profile players in the biz gave a negative warning for vf investors, they took a dive and it carries through the regular session after it lowered his four year forecast for profits and sales. Due to a highly competitive sales and whatnot. The board approved a 250 million Share Buy Back the stock was the worst performer on the s p index. The ripple effects were evident. Check out the big names in grocery like whole foods, that stock was down big today as well. One of the worst performers in the entire s p 500. Even the biggest u. S. Grocer out there, kroger felt the pain as well. When one grocer talked about the effects of a prolonged deflationary period and the effects on foot traffic, this is what happens. Remember, whole foods, its been under pressure for a few years now. But kroger hit record highs just before 2016 started. Melissa, what pricing pressures hit, everyone in the biz gets hurt. Back over to you guys. Thanks so much. So is this another example of retailers having trouble with Pricing Power . We heard this from target we heard this in the restaurant space, deflationary food costs . Right, i think two parts. There is this the deflationary pressure. When you look at Something Like a sprouts or a whole foods, whole foods had a monopoly for a long period of time. Competition is coming in and they dont have the Pricing Power and they have the food deflation. When everybody is running to one side, pk wants to go to the other. I would look at suger, sgg. Thats something you want to buy. Huh . I think that it might be another vote, yeah. Fill it up with sugar. Buy it. Sgg. Are you worried about your target . You love target target has a grocery problem. The Groceries Stores have a grocery problem. Targets got to step up and compete with walmart. And you look even at walmart was down a buck. Its because of the fact