Bear Case Scenarios for Amazon, Circle CEO Jeremy Allaire on Reversing Decision to Go Public & Ghana Hosts Africa’s First-Ever Bitcoin Conference 12/5/22
TechCheck
CNBC
4.5 • 66 Ratings
🗓️ 5 December 2022
⏱️ 43 minutes
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| 0:00.0 | I'm Julia Borsden, and you're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern, listen in. |
| 0:07.8 | Good Monday morning. Welcome to Tech Check. I'm Carl Kintanilla with Dear Grbosa and John Fort. Today, Apple, |
| 0:13.0 | looking to further diversify its supply chain. Reports say it has accelerated plans to move some |
| 0:19.3 | production outside of China. We're going to talk about |
| 0:22.0 | possible timelines. Then one Wall Street firm says Amazon could fall 45% from here, given its |
| 0:28.4 | exposure to inflationary cost headwinds and a potential impact from slowing consumption. Stock's |
| 0:34.1 | already down by that amount this year. We'll talk to the analysts behind that call. |
| 0:38.2 | And finally, the crypto contagion continues circle pulling its plan to go public via SPAC. |
| 0:43.4 | That CEO will join us later this hour, D. |
| 0:45.9 | Yeah, there's a lot to get to this morning, Carl. We're going to start with Apple and reports |
| 0:49.3 | that it has plans to accelerate a shift which would see production move out of China that comes amid |
| 0:55.5 | continued COVID lockdowns, which has spurred protests across the country. Several weeks ago, |
| 1:00.8 | workers at Foxcon, the biggest contract assembler of iPhones, clashing with police following |
| 1:05.0 | complaints about unsafe working conditions. You're seeing the video here. Now, India emerging as a |
| 1:10.0 | possible candidate as a place that |
| 1:11.5 | Apple could ship production, but a timeline for that move still extremely uncertain. For more, |
| 1:17.2 | let's bring in our Steve Kovac and Sima Modi. Good morning to you both. Steve, let's start |
| 1:21.8 | with you. Replacing iPhone City is no small feat. There's a reason that China is there in the first |
| 1:27.3 | place. Certainly can't happen overnight. It's a reason that China is there in the first place. |
| 1:28.1 | Certainly can't happen overnight. It's going to take years potentially. |
| 1:31.8 | Yeah, that's right. And so Apple is still heavily reliant on China, Djerra. |
| 1:35.8 | And what we're starting to see, though, especially this year, is them shift over, and I know |
... |
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