An Ugly End of the Year for Tech, Naming Microsoft a Top Pick in the New Year & Zscaler CEO on the State of Cybersecurity 12/23/22
TechCheck
CNBC
4.5 • 66 Ratings
🗓️ 23 December 2022
⏱️ 43 minutes
🧾️ Download transcript
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| 0:00.0 | I'm Dear Drabosa, and you're listening to CNBC's Tech Check. |
| 0:03.5 | Our show is live weekdays at 11 a.m. Eastern. Listen in. Good Friday morning. Welcome to Tech Check. I'm Carl Kintanilla with John Ford here at Post 9 of the New York Stock Exchange. Dear Drabosa has the morning off. A busy day today, actually. Market seen an ugly end of the year. NASDAQ down nearly 9% over the last three weeks. |
| 0:21.6 | We'll take a look at |
| 0:22.3 | where to pile in and what to avoid going into 23. Plus Microsoft responds to the FTC. We'll get the |
| 0:28.2 | latest on the tech giants battle with the government to acquire Activision Blizzard. |
| 0:32.7 | Finally, cybersecurity struggles. The bug ETF hitting its lowest levels since 2020. |
| 0:38.6 | Z-Scaler CEO, J. Chaudre, joins us later this hour and what we can expect from that space next year. |
| 0:44.2 | Yeah, let's start with stocks. |
| 0:46.5 | The tech sector, NASDAQ, back near the lows of the year. |
| 0:49.5 | The last few weeks have just been ugly. |
| 0:51.8 | Frank Holland joins us with December's move and what it could signal |
| 0:55.8 | for 2023. Frank? Hey there, John. A lot of red here at the NASDAQ, as you can see behind me, |
| 1:01.0 | the NASDAQ 100 on pace for a 9% decline this month, a third straight week of losses and a 33% |
| 1:06.9 | decline this year. Apple having the biggest negative impact in December on the tech heavy |
| 1:11.4 | index, dragging it down 147 points. Tesla more than 109 points lower as investors, of course, |
| 1:17.1 | have a lot of concerns about Elon Musk running Twitter and also falling deliveries. Wedbush |
| 1:21.6 | actually today lowering its estimate for Q4 deliveries. Chips again under pressure. Microns |
| 1:27.2 | disappointing earnings, job cuts, |
| 1:28.9 | weighing on the space overall that is facing demand issues. We're talking applied materials, |
| 1:33.1 | Nvidia. Some of the names leading the NASDAQ lower this month. We're looking for names that |
| 1:38.0 | are moving the NASDAQ higher, especially today. Likely names you don't really associate with |
| 1:41.6 | the NASDAQ. We're talking oil company Diamondback, |
... |
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