Amazon Amazes, Apple Shows its Strength & Intel CEO on the Quarter 7/29/22

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 29 July 2022

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors kick off this Friday morning breaking down Amazon and Apple’s strong results. Then, Intel CEO Pat Gelsinger joins in a first on CNBC interview to discuss the chipmaker’s lackluster Q2. Also, CNBC’s Julia Boorstin is here to cover why shares of Roku are falling off a cliff this morning. Later, we return to Amazon’s quarter with UBS Analyst Lloyd Walmsley who raised his price target on the stock. Also, CNBC’s Eunice Yoon reports on the health of Apple’s business in China and Cowen Analyst Krish Sankar joins for more on the tech giant. Plus, we look ahead to another busy week of tech earnings. 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.
0:08.7	Good Friday morning. Welcome to Tech Check. I'm Carl Kintania with your Dr. Bosa and John Fort.
0:13.1	Today, two giant tech bellwether is out with upbeat results. Investors once again betting on Apple and Amazon as recession fears rock the rest of
0:21.3	tech we'll talk about that Intel shares as you know getting crushed the biggest
0:25.7	sales miss since 99 CEO Pat Gelsinger says their own execution issues are
0:31.4	partly to blame and we'll talk to him in just a couple of minutes right here on
0:34.7	Tech Check on the heels of earnings and the passage of the chips act and then Roku shares plummeting the stock losing a couple of minutes right here on Tech Check on the heels of earnings and the passage of the Chips Act.
0:38.9	And then Roku shares plummeting. The stock losing a quarter of its value will discuss what
0:43.1	it means for other advertising-based names like Warner, Disney, and the growth trade broadly deep.
0:49.5	Hi, Carl John. Good morning. TGIF. What a big weekend has been? And we start our show with Amazon shares.
0:55.9	They are surging today after reporting better than expected Q2 results. The company painting a bright picture against a challenging macro backdrop for the consumer.
1:03.6	Q3 revenue outlook comes in ahead of estimates. They say consumer spending has remained strong.
1:08.9	Management also adding that over capacity concerns,
1:11.4	something that dragged down the stock in the first half of the year are now being solved.
1:15.8	They do warn, however, that inflationary pressures remain and could be strong in Q3.
1:20.8	A negative on the quarter, Amazon taking a $3.9 billion hit on its investment in Rivian,
1:25.9	which resulted in an overall loss of $2 billion,
1:28.8	but there was a $12 billion gain a few quarters earlier. But here's the takeaway, guys.
1:33.7	I mean, this is basically Andy Jassy saying he knows this playbook. He's been there for two decades.
1:39.4	He watched Jeff Bezos, help Jeff Bezos figure a lot of this stuff out. Amazon went from one of the worst performing mega caps this year to maybe, John, in the best
1:48.7	position for the second half of the year.
1:50.6	And I got to give you credit.
	...

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