A Chip Sell-Off, Netflix’s Report, & President Xi’s AI Pitch 7/17/26

Squawk Pod

CNBC

Investing, Business, Business News, News

4.2 • 547 Ratings

🗓️ 17 July 2026

⏱️ 29 minutes

🔗️ Recording | Apple Podcasts | RSS

🧾️ Download transcript

Summary

Netflix shares are under pressure after its quarterly earnings forecast disappointed investors, and chip stocks are down amid concern about AI investment. JPMorgan Asset Management global market strategist Hugh Gimber explains why the pressure on chip and memory stocks might continue until hyperscaler companies report their own earnings in a few weeks. In Shanghai, CNBC’s Eunice Yoon reports on President Xi’s latest remarks pitching China to the global community as a leading partner in AI. President Trump has delivered his own remarks on China stateside, and LeBron James isn’t ready to announce his next move in the NBA. Plus, CNBC’s Diana Olick and Steve Liesman break down the latest housing data, what it means for the Federal Reserve, and what it tells Americans about affordability in this country. Eunice Yoon - 7:59 Hugh Gimber - 17:53 Diana Olick & Steve Liesman 25:13 In this episode: Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music, please.
0:04.3	This is Squawk Pod, and I'm CNBC producer Cameron Costa.
0:08.6	On today's episode, chip stocks are under pressure.
0:13.0	J.P. Morgan Asset Management Global Market Strategist Hugh Gimber considers it a healthy correction.
0:19.2	But he says relief won't come until we know more
0:22.3	about big text spending.
0:24.6	For me, I think what's key here is not so much what the semis names are telling you themselves,
0:29.6	but rather what we're going to get from the hyperscalers over the next couple of weeks.
0:34.4	And America's housing affordability problem, CNBC's Diana Oleg.
0:39.1	How do you fix housing supply?
0:41.3	Joining her is our own Steve Leasman.
0:43.8	If you want to invest in housing, you should buy shares in Futan because that's what people are using.
0:49.7	President Xi Jinping is pitching China as a leading AI partner.
0:56.0	Eunice Yunn reports from Shanghai. He's been preaching a whole lot of openness in contrast, or at least to attempt to contrast,
1:02.0	the Chinese perspective versus the U.S. closed model.
1:07.0	Plus President Trump's speech stateside, LeBron's next move, and Netflix revenue has disappointed investors.
1:14.5	And then there's its content.
1:16.5	There's a lot of good content in a lot of places.
1:18.7	But just not Netflix.
1:20.9	It's Friday, July 17th, and SquawkPod begins right now.
1:26.0	Stand Becky by in three, two, one.
1:28.9	Cure, please.
	...

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