TechCheck

Big Tech Pullback Warnings, Plus UBS downgrades Alphabet 6/26/23

June 26, 2023 18:39 - 8 minutes - 7.52 MB

Analysts have been warning of increased concentration in mega-cap tech for a while, with little impact on those names. Is it time now for a pullback? Plus, UBS downgraded Alphabet today to neutral from buy, saying the stock has limited upside and that it may not be the best way to capitalize on the AI wave.

Chips Act Eligibility Expands, Plus A Read on the Private Markets 6/23/23

June 23, 2023 18:14 - 7 minutes - 6.45 MB

Suppliers are now able to apply for funding under the Chips Act after the Biden administration broadened the companies that are eligible, 11 months after it became law. Plus, the CEO of Forge Global, a secondary marketplace where insiders can buy and sell shares of private companies, says AI names are still hard to buy.

AWS CEO Discusses New AI Innovation Center, Plus FTC vs. Microsoft/Activision 6/22/23

June 22, 2023 20:21 - 7 minutes - 7.09 MB

AWS is investing $100M in a center to help its customers use generative AI, in a push to keep up with rivals Microsoft and Google. Deirdre Bosa sits down with AWS CEO Adam Selipsky. Plus, the first of a five-day hearing between Microsoft and the FTC kicked off today, to determine the fate of a $69 billion deal to buy Activision in the U.S.

Alibaba Announces Surprise Leadership Shakeup 6/20/23

June 20, 2023 19:38 - 6 minutes - 5.67 MB

Alibaba announced this morning Chairman and CEO Daniel Zhang will be stepping down from the company, to be replaced with longtime Alibaba veterans Joe Tsai and Eddie Wu respectively. The installment of two Jack Ma insiders might indicate the tech billionaire is still calling the shots, despite disappearing from public eye the past few years after regulatory scrutiny.

The Next Seven 6/16/23

June 16, 2023 18:23 - 6 minutes - 6.12 MB

By now we've all heard of the Magnificent Seven - the handful of gargantuan tech stocks responsible for the majority of the market's gains. But we dug into the NEXT seven -- filled with legacy tech and AI-related names that are also seeing gains this year.

Adobe Earnings Preview, Plus Lyft Acquisition Rumors Swirl 6/15/23

June 15, 2023 19:20 - 5 minutes - 4.86 MB

Will Adobe earnings after the bell prove it's an AI winner or loser? Bears would argue popular models like Dall-E and Midjourney undermine the company, though bulls might say Adobe represents one of the best professional applications of AI. Plus, analysts have pegged Lyft as a potential acquisition target, with possible buyers including big tech companies like Google and Amazon, automakers, and private equity.

TechCheck+ Dot Com vs. AI Mania: Comparing 1999 and 2023 6/13/23

June 13, 2023 23:35 - 8 minutes - 7.72 MB

Tech has come roaring back in 2023. And the biggest narrative this year – artificial intelligence. If it feels like a moment of gigantic hype – you wouldn’t be mistaken. But so was 1999. This week on TechCheck – comparing two moments of hype: the dot com bubble and AI mania.

Intel’s New Foothold in the Chip Wars, Plus CalSTRS CIO Cautions Against Tech Rally 6/13/23

June 13, 2023 23:33 - 10 minutes - 9.69 MB

Intel is reportedly in talks with Softbank to be a strategic investor to anchor chip designer Arm’s IPO. It could be a way for Intel to work with big names like Apple, Amazon, and Meta and others on the back-end. Plus, the Chief Investment Officer of the nation’s second-largest pension fund cautions against the tech rally and warns that AI is overhyped.

Meta Internal Meeting Reveals Jabs at Apple and a Twitter Competitor 6/9/23

June 09, 2023 19:02 - 6 minutes - 5.77 MB

In the battle of the titans, Apple and Meta have long been locking horns on products, privacy, and now the new era of headsets. In leaked audio from an internal all-hands meeting, there were reports that Zuckerberg criticized the Vision Pro, particularly its price tag. The meeting also revealed the tech giant is now working on a Twitter competitor, though many apps have tried and failed.

Tech’s Return to Office Tactics 6/8/23

June 08, 2023 18:38 - 7 minutes - 7.02 MB

Three different approaches may be emerging for how tech companies are trying to lure employees back into the office. Google – which had been using carrots like a Lizzo concert, is instead shifting to sticks – with a crackdown on office attendance and tracking badges. Salesforce, on the other hand, is trying out altruism – offering to donate $10 to local charities for each day an employee is in the office or attends a company event.

Data is Gold in AI Race, Plus Roblox CEO on Potential Apple Partnerships 6/7/23

June 07, 2023 20:21 - 6 minutes - 6.06 MB

If "data is gold" in the shift to AI, big tech companies that have been collecting data for decades might have a huge leg up -- if they can balance increased costs as they work on accommodating a new hardware and infrastructure shift. Plus, Roblox CEO Dave Baszucki says developers are flocking to its spatial computing platform, though Apple had only announced it was using Unity Software to bring apps and games to its headset.

Sequoia Capital Splits Into Three VC Firms 6/6/23

June 06, 2023 18:31 - 7 minutes - 6.88 MB

Sequoia Capital, one of the world’s largest and most successful VC firms, told investors today it will split into three partnerships, separating its China and India units. It’s been a tough first year for U.S. and Europe lead Roelof Botha – the tech market turned, and amid rising geopolitical tensions, he oversaw billions in devalued investments.

Apple Unveils Vision Pro Headset 6/5/23

June 05, 2023 20:03 - 12 minutes - 11.1 MB

There's a lot at stake for Apple as it hits all-time highs the same day it reveals its new mixed-reality headset, the Apple Vision Pro. Even though it’s eventually aimed at the general public, it’s first up to developers to create apps and games that will level up the product, differentiate it from other headsets, and make it enticing for consumers.

MongoDB Bucks Cloud Slowdown, Plus Telecom Stocks Fall on Amazon Prime Mobile Report 6/2/23

June 02, 2023 18:50 - 6 minutes - 5.73 MB

Shares of MongoDB are surging almost 30% today after posting an earnings beat and offering strong guidance when its competitors aren’t, bucking the trend of a slowdown that PagerDuty and Salesforce are warning of. Plus, shares of telecom stocks are falling after a report that Amazon is in talks to offer a free mobile service for Prime customers. Amazon said it is not in talks to offer wireless anytime soon while T-Mobile and Verizon have said they’re not in discussions with the tech giant.

Tech Carries the Market, Plus Previewing Broadcom Earnings 6/1/23

June 01, 2023 18:23 - 7 minutes - 6.76 MB

Big tech has been carrying the market once again; without the 7 megacaps responsible for the market's gains, the S&P would be down for the year, instead of up 10%. Plus, Broadcom posts earnings after the close. The chip company has a high bar to meet after a surge analysts are calling “parabolic.”

Nvidia Throws Intel a Bone, Plus Amazon Workers Plan Walkout 5/31/23

May 31, 2023 18:44 - 6 minutes - 5.97 MB

Nvidia CEO and AI kingmaker Jensen Huang out with a vote of confidence for Intel, saying their test chips “look good.” It could mean advanced chipmaking is coming back home. Plus, Amazon workers are planning a walkout today, citing the company’s return to office policies and recent layoffs.

The New FAANG and Predicting the AI Monetization Cycle 5/30/23

May 30, 2023 18:07 - 7 minutes - 6.71 MB

We may need a new "FAANG" to describe the tech basket powering market gains this year, and some analysts are suggesting the "Magnificent Seven," which include Nvidia and Tesla. Plus, during the mobile internet platform shift, semis were the first to be recognized by markets, then infrastructure, and finally software. That may point to what the next trillion dollar company is after Nvidia.

The Week AI Got Real (For Profits) 5/26/23

May 26, 2023 18:00 - 4 minutes - 3.8 MB

AI is in its peak hype cycle stage, but this was the week it also started to matter to companies’ bottom line. Nvidia’s blockbuster quarter and then Marvell showed that AI is creating real revenue right now. But what about the real costs for all those Nvidia customers who are buying silicon to up their server game? We look at the different players and how investors are absorbing the changes.

TechCheck+ Henry Winkler of HBO's 'Barry' 5/26/23

May 26, 2023 16:58 - 17 minutes - 15.8 MB

CNBC’s Carl Quintanilla is joined by Emmy-award winning legend Henry Winkler to break down his final performance as acting teacher Gene Cousineau on HBO’s “Barry” as the series comes to a close. They discuss Henry’s sources of inspiration while playing the role of Gene, why he says writers are the "beating heart" of every project he’s worked on and how he maintains his “cool” nearly 50 years since his debut as The Fonz on “Happy Days.”

Riding Nvidia’s Wave: Other AI Stock Plays, Plus A Closer Look at its Valuation 5/25/23

May 25, 2023 18:25 - 8 minutes - 7.43 MB

Nvidia stock is surging today and nearing a trillion dollar valuation, driven by spiking demand for its AI GPUs. But there may be other ways to play that boom. Taiwan Semi manufactures Nvidia and other big tech companies’ chips, and Softbank-owned Arm helps companies bring AI chip design in-house, cutting out the middleman. The stock is actually cheaper now than it was yesterday, thanks to a “guidance for the ages.”

Meta’s Newest Round of Layoffs, Plus Netflix Cracks Down on Password Sharing 5/24/23

May 24, 2023 19:18 - 5 minutes - 4.89 MB

Meta announced today it would start another round of layoffs, part of the ten thousand roles CEO Mark Zuckerberg said would be cut in March. Plus, Netflix begins to roll out its plan to make users pay extra to share accounts.

Yelp Jumps on Activist Investor Letter, Plus Generative AI Use Explodes at Enterprises 5/23/23

May 23, 2023 18:20 - 6 minutes - 5.51 MB

The activist investor pushing Yelp to explore a sale told CNBC’s Deirdre Bosa that CEO Jeremy Stoppelman uses the company as his own personal piggy bank while the rest of us lose money, thanks to a “puppet board.” Plus, generative AI use has surged at enterprises, according to a new report from data management startup Databricks.

Uber Cuts San Francisco Office Space, Plus China’s Micron Ban 5/22/23

May 22, 2023 20:19 - 7 minutes - 6.49 MB

Uber is offloading a third of its office space in an example of a dire vacancy situation in San Francisco and how the city will struggle to bring back workers and its economy. Plus, Micron shares fall after Chinese authorities barred some of its large companies from buying its chips.

Big Tech Props Up The Market 5/19/23

May 19, 2023 19:01 - 2 minutes - 2.49 MB

We’re seeing the greatest outperformance of tech versus the S&P 500 ever, with the rally concentrated in just a handful of big tech names including Nvidia, Meta, Google and Amazon. But investors looking for the next big winner in the space might set their sights on Oracle.

Alibaba Announces Cloud Unit Spinoff, Plus An AI-Washing Warning 5/18/23

May 18, 2023 19:19 - 5 minutes - 4.88 MB

Alibaba’s stock has gone nowhere since announcing its six-way breakup, and is still down today despite making its cloud spinoff official. Plus - what is AI-washing, and why should investors be on the lookout for it?

Elon Musk Criticizes OpenAI, Plus Stability AI CEO Talks Business Models 5/17/23

May 17, 2023 19:04 - 12 minutes - 11.7 MB

In a CNBC Exclusive interview, Elon Musk voiced concerns about how much control Microsoft has over OpenAI. Satya Nadella has rejected that, but it raises the question again of whether big tech will gobble up smaller incumbents in this emerging industry. Plus, Stability AI CEO Emad Mostaque explained why his open-source business model is important for transparency.

AI Faces Congress 5/16/23

May 16, 2023 19:11 - 3 minutes - 3.55 MB

OpenAI CEO Sam Altman’s debut on Capitol Hill seemed more collaborative than combative, unlike tech hearings we’ve seen over the past. He agreed with lawmakers in calling for more AI oversight, saying that safe development of the technology requires companies to do good, regulatory intervention from the government, and public education.

AI’s Threat to Ad Agencies, Plus Apple’s Mega Market Cap 5/15/23

May 15, 2023 18:41 - 7 minutes - 6.86 MB

Ad agencies are topping analysts' lists of businesses most at risk of AI automation, but ad titan Sir Martin Sorrell argues the technology will be a net positive for the industry. Plus, Apple is now worth more than the combined market cap of the Russell 2000 – but as the tech giant grows, so does the question of whether it’s overpriced.

Under-the-Radar AI Picks 5/12/23

May 12, 2023 16:16 - 3 minutes - 2.89 MB

Analysts today have called out a few stocks that could be under-the-radar beneficiaries of AI. CNBC’s Steve Kovach breaks that down – plus one company that has been singled out as an AI loser.

Softbank Slumps, Plus Character.ai CEO talks monetization 5/11/23

May 11, 2023 19:29 - 10 minutes - 9.9 MB

Softbank posted a record $32 billion loss at its Vision Fund tech investment arm as executives promise the company are going on the offensive on AI. But is it too little too late? Plus, character.ai has become an example for tech investors of an AI bubble – after the company raised a billion dollars without seeing any revenue. CEO Noam Shazeer talked monetization, use cases, and how they landed their partnership with Google Cloud.

Google I/O Recap 5/10/23

May 10, 2023 20:01 - 2 minutes - 2.63 MB

Google held a much anticipated event today, but what really caught the investors’ attention was its demonstration of AI integration with search.

PayPal vs. Block Valuations, Plus Amazon Offers Pickup Incentive While Spotify Cracks Down on AI Streams 5/9/23

May 09, 2023 18:55 - 8 minutes - 7.7 MB

PayPal is the better profitability play, yet trails Block’s valuation by a mile. But does any of that matter when pretty much all of fintech are commodity services anyway? Plus, Amazon is offering a $10 incentive for some customers who choose to pick up a purchase in store instead of have it delivered, and Spotify is tackling AI bots who inflate streaming numbers.

AI Threatens Ad Industry 5/8/23

May 08, 2023 19:33 - 3 minutes - 3.35 MB

Investors are trying to price in the downside stock impact of the AI boom, and advertising agencies like WPP, Omnicom Group and Publicis Groupe could be at risk. That’s after a report that Amazon is working on its own AI tools to generate photos and videos that could help it push more ad formats to smaller sellers. Analysts, meanwhile, are warning (and even putting together stock baskets) of other companies under threat.

Block CFO & Dropbox CEO weigh in after earnings 5/5/23

May 05, 2023 19:32 - 7 minutes - 6.55 MB

Block CFO Amrita Ahuja discusses the company’s earnings, cash app growth, and how worked it with regulators about the issues raised in a short seller report around its verification and compliance programs. Plus, Dropbox CEO Drew Houston says AI played a role when it cut 16% of its workforce last week, but warns that “replacing people with AI shouldn’t be the only motivation.”

TechCheck+ AI Roadkill 5/5/23

May 05, 2023 17:22 - 6 minutes - 5.91 MB

You’ve heard about the AI winners – Microsoft, Google, Nvidia and others leading the shift. But what about AI roadkill? The companies who could see their entire business models eviscerated by the coming wave of generative AI? Edtech company Chegg was the first public company to blame AI and ChatGPT for a weak outlook, and lost 50% of its value in one day. But it won’t be the last. This week on TechCheck weekly, the companies most at risk from the AI revolution.

Previewing Apple Earnings Plus Big Tech At The White House 5/4/23

May 04, 2023 20:17 - 6 minutes - 6.25 MB

Apple is set to report earnings after the bell today, but calling it just a hardware or software company is stale. Instead, Deirdre Bosa explains why more and more analysts are naming it a “can’t live without” consumer staples company. Plus, some of the biggest names in tech including Microsoft CEO Satya Nadella and OpenAI CEO Sam Altman were at the White House today, meeting with Biden himself to discuss tech's moral responsibilities around AI development.

Chegg Shares Sink on ChatGPT Threat, Plus AI’s Larger Impact on Business and Society 5/2/23

May 02, 2023 20:27 - 10 minutes - 9.48 MB

Chegg shares were cut nearly in half after its CEO described how students have increasingly turned to ChatGPT in recent months, hurting new user growth. And that’s not the only company with big news today on AI disruption. IBM said it plans to pause hiring for roles that could be replaced by AI, showing just how much the new technology is creeping into all corners of society. But is AI ultimately going to be a net positive or net negative? A CNBC panel weighs in.

Softbank’s Arm Files For IPO & How Google Lost Its Edge to OpenAI 5/1/23

May 01, 2023 18:55 - 7 minutes - 6.54 MB

Softbank’s chip designer Arm has confidentially filed to go public, seeking a valuation of $30 billion to $70 billion in what is shaping up to be the biggest IPO of the year. Could it be the key to thawing a frozen IPO pipeline? Plus, investor Brad Gerstner lit into Sundar Pichai for losing Google’s AI lead to OpenAI, leaving investors questioning whether he can get tough on the issue.

TechCheck+ The Creators of HBO's Watergate series 'White House Plumbers' 5/1/23

May 01, 2023 17:28 - 15 minutes - 14.3 MB

Carl Quintanilla sits down with Alex Gregory and Peter Huyck, co-creators, writers and executive producers behind HBO’s five-part mini-series “White House Plumbers” based on the true story of Nixon's Watergate "masterminds," E. Howard Hunt and G. Gordon Liddy. The two discuss balancing historical fact and satire, the painstaking process behind recreating real-life locations, and why both Gregory and Huyck believe the show’s fresh take on the famous robbery is “the greatest story people have n...

Digging into Snap, Pinterest, and Amazon earnings 4/28/23

April 28, 2023 19:21 - 8 minutes - 7.52 MB

Snap and Pinterest stock are both plummeting today as they warn of ad revenue challenges ahead – even though other big tech names that reported this week are showing advertising resilience. Plus, an Amazon analyst explains why the market might be underappreciating the stock, despite showing positive Q1 metrics like growing profitability and curbing expenses.

AI’s Proving Ground, Plus Microsoft & Alphabet Earnings 4/25/23

April 25, 2023 18:43 - 10 minutes - 10 MB

Microsoft and Alphabet both report earnings today – key for investors will be what they signal about AI in terms of announcements already made and what’s in store.

TechCheck+ Google on Defense 4/21/23

April 21, 2023 15:41 - 8 minutes - 7.49 MB

Is something happening to Google’s dominance? For two decades it enjoyed one of the best business models in history – search. The stock boomed. The company grew and acquired its way to becoming one of the biggest companies in the world. But today Alphabet finds itself cutting staff and facing new competition from ChatGPT and Bing at a pivotal time. Why that matters, and why maybe it doesn’t matter at all.

Tesla Margins Shrink & So Do Tiger Global’s Returns 4/20/23

April 20, 2023 19:36 - 4 minutes - 4.33 MB

Tesla cut prices a half dozen times in the last 6 months, and that cut into margins for the latest quarter. As investors are focused on the COST-CUTTING side of the portfolio and what that will do to earnings, we look at the revenue side and how margins could be squeezed from the top line. PLUS – more numbers and performance from Tiger Global as the private markets in tech catch up to the public ones.

Google’s New Phone. Why? 4/19/23

April 19, 2023 21:07 - 3 minutes - 2.92 MB

CNBC reported that Google is at work developing its new Pixel phone with a foldable screen – set for a June release and costing in the realm of $1700. Why does Google still invest in phones and physical hardware with such small market share and cost-cuts in other businesses? The answer is in Android and its overwhelming market share, and why it may need leverage in that competition.

Nvidia’s AI lead, Netflix earnings & Meta’s non-meta plays 4/18/23

April 18, 2023 23:51 - 6 minutes - 6.24 MB

A bull-bear debate on wall street about Nvidia as Microsoft reportedly starts to work on its own chip production. Plus – a look at the stakes for Netflix earnings and what else Meta is doing outside the metaverse.

Samsung CONSIDERED Replacing Google Search 4/17/23

April 17, 2023 22:14 - 3 minutes - 2.92 MB

Deirdre is back with the story of Samsung considering switching from Google as its default search engine. Where’d it think about going? Microsoft Bing of course. Why ChatGPT and Bing could destabilize Google’s Search dominance.

Tesla Price Cuts & Walmart Sells Bonobos 4/14/23

April 14, 2023 19:29 - 5 minutes - 5.12 MB

Tesla just keeps cutting prices. A sign of strength or weakness? And Walmart is selling Bonobos for much less than it bought it for. What that says about its e-commerce ambitions.

Jassy’s Letter to Amazon Shareholders 4/13/23

April 13, 2023 20:20 - 4 minutes - 3.76 MB

Amazon CEO Andy Jassy published his letter to Amazon shareholders this morning – we parse some of the messages and themes that’ll play out for the rest of 2023 and beyond.

Mad MAX from Warner Brothers Discovery, and Apple iPhone Buttons 4/12/23

April 12, 2023 19:02 - 8 minutes - 7.42 MB

Warner Brothers and Discovery combining HBOMax and Discovery+ and naming it… Max? Inside WBD’s new streaming service. Plus – the difference between a solid-state button and physical button, why some people love physical buttons, why iPhone might stick with them, and why that’s tanking one hardware company’s stock.

PC Demand Falls 4/10/23

April 11, 2023 00:30 - 5 minutes - 5.36 MB

CNBC’s Steve Kovach and Kristina Partsinevelos report on demand fears from top technology producers.

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