I'm John Fort. You're listening to CNBC's TechChack. Our show is live weekdays at 11 a.m. Eastern. Listen in.

Good Wednesday morning. Welcome to Tech Check. I'm Carl Kingtonia with Deirdrebosa and John Fort.

Today, a soft spot for software. Why one Wall Street firm says they're going to accept higher valuations for some select names as CPI gets the biggest jump since 82.

Plus PayPal probably prefers down payments to

downgrades, but that's what Jeffries does today. We'll talk about some fintech opportunities.

And then new neighbors, Tesla's co-founder, former CTO is with us. Talk about his EV battery

company, John. Yeah, Carl, we will start with some calls, though, on high-growth stocks.

Barclays says valuation still remain a concern, but they're willing to look past the numbers for a few names.

This morning, they upgrade snowflake to overweight, saying they don't think the street appreciates the expanding data-sharing opportunity.

They also like Salesforce and Data Dog. The call somewhat different from comments we heard on our air yesterday from Paul Tudor Jones,

who said high growth, high multiple stocks that surge to start the pandemic are going to struggle in a tightening cycle.

It's a thing we continue to discuss as Kathy Woods' Ark Fund, cloud stocks, and many fintech names have seen valuations slashed, guys.

Dee, I think it's an interesting distinction.

Snowflakes' growth has been explosive.

We had Frank Slootman on after earnings pretty recently,

I mean, doubling, frankly, year over year,

even after the biggest software IPO ever opened up double, right?

He's continued to deliver on growth.

I think our question is, in this environment where people are reconsidering what they're willing to pay for that growth, given inflation and the Fed action, are there certain stocks

that you can continue to count on or will a falling tide lower all boats?

I think we're already starting to see sort of this dispersion between these software names.

We mentioned CRM and Snowflake these days as companies that have been able to hold up growth. And I've started to look at how much are some of these software companies off their 52-week lows, right? We know that they have come down so much, but there have been bargain hunters, if you want to call them that, even though they started at such high valuations, in names like CRM and Snowflake. They're up 70, 20 percent from their lows, but you compare that,

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