Altimeter Capital Calls on Meta to Cut Costs, Growth Headwinds for Microsoft & Previewing Apple’s Earnings 10/24/22

TechCheck

CNBC

Business, Technology, Management, Disruptors, Investing, Tech, Cnbc, Faang

4.5 • 66 Ratings

🗓️ 24 October 2022

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors begin today’s show with Julia Boorstin covering activist investor Altimeter Capital calling on Meta to reduce headcount and limit its investments in the metaverse. Then, MoffettNathanson Senior Managing Director Michael Nathanson looks ahead to a massive series of big tech earnings on the horizon, and NorthmanTrader Founder Sven Henrich offers his outlook for the current bear market rally. Next, CNBC’s Eamon Javers shares new reporting on investments in artificial intelligence made by Former Google CEO Eric Schmidt while chairing a federal commission on AI. Later, CNBC’s Steve Kovach breaks down growth headwinds affecting Microsoft ahead of earnings this week, and Evercore ISI analyst Amit Daryanani previews Apple’s upcoming results. 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	I'm John Fort. You're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern. Listen in.
0:06.9	Good Monday morning. Welcome to Tech Check. I'm Carl Kintania with Deirdreboza and John Fort.
0:11.2	Today, a series of upgrades and downgrades for chips today. We're going to parse through all of those calls and bringing you the names the street at least things you might own.
0:18.9	Plus, a CNBC investigation finds the former CEO of Google made investments in AI while
0:24.4	chairing a federal commission.
0:26.0	That story is later this hour.
0:27.6	And then big tech versus recession.
0:29.3	We'll do a deep dive on Amazon, Alphabet, Meta, Apple, and Microsoft ahead of earnings this
0:33.7	week.
0:34.0	Break down some of the key issues and metrics you're going to be watching
0:37.6	4D. Yeah, well, let's dig into it. It is a big week ahead for tech. And when it comes to the two
0:42.5	companies, guys, that I follow very closely, Amazon and Alphabet, there's the sense that they have
0:46.8	already been taking their medicine this year. Amazon, of course, built too much, hired too much
0:51.3	over the pandemic, and acknowledged that earlier this year
0:54.5	resulted in billions of dollars of costs to restore its efficiency.
0:58.3	That could position it better than other e-commerce rivals this holiday season.
1:03.2	Also has that giant cloud business.
1:04.7	So key question there, will that remain resilient?
1:08.0	Alphabet also is a big cloud business, not as big.
1:10.3	And the company has stopped short of
1:12.5	job cuts, but has slowed hiring. Senator Pichai said a few months ago at Code Guys, they were
1:18.0	focused on becoming 20% more efficient. Its ad model, also seen as more resilient than that of
	...

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