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TechCheck

Big Tech on Deck, Klarna CEO on Valuation Cut & NFL+ Launches 7/25/22

TechCheck

CNBC

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

4.566 Ratings

🗓️ 25 July 2022

⏱️ 45 minutes

🧾️ Download transcript

Summary

Our anchors begin today’s show with CNBC’s Dom Chu breaking down what to expect from Big Tech earnings this week. Then, we hear from Bank of America Analyst Tal Liani after he downgraded key networking stocks. Later, we return to Big Tech’s big week with insight from Wedbush Securities Head of Equity Trading Sahak Manuelian. Plus, Klarna CEO Sebastian Siemiatkowski joins for his first broadcast interview since the buy now, pay later company’s valuation plunged 85%. We also cover the National Football League launching its NFL+ app for $4.99 a month. 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.

0:09.5

Good Monday morning. Welcome to Tech Check. I'm Carl Kintania with John Fort and dear Drubosa. Today, a make-or-break week ahead for technology as key names like Microsoft, Apple, Google, Meta, and Amazon. All report results.

0:22.5

We'll talk about the key risks to watch out for this hour. And that's on top of results from

0:26.8

nearly a third of the SMP, as B of A warns, stay out of the networking names. We're going to discuss

0:32.1

that. Finally, don't miss an exclusive with the CEO of Clarnah this hour. His first broadcast

0:37.0

interview since the company's

0:38.2

valuation plunged 85% or almost $39 billion, Steve. And Carl, I'm back just in time for our

0:46.2

Super Bowl. That is big tech earnings. That all kicks off this week. Pretty much every mega cap name

0:51.3

you can think of Alphabet, Microsoft, Amazon, Apple, and meta, along with

0:55.6

smaller but not small names. You've got NXPI, Shopify, Intel, and more, nearly a third of the

1:00.8

S&P, 40% of the Dow is going to be reporting results this week. Domchu joins us. Now with the

1:06.0

breakdown, Dom, I'm rested and ready. It is going to be a big one. It's absolutely going to be the Super Bowl,

1:12.6

like you said, because this is going to be what constitutes the biggest influence on where we could

1:17.8

see markets going with regard to the fundamental side of that equation, charts aside, macroeconomic

1:23.5

conditions aside. But for the S&P 500, the make or break is not at all dramatic. I mean,

1:30.0

this is true because if you look at the S&P as we stand right now, since the highs earlier this

1:34.5

year, we're down roughly 18% during that time span since those record highs. But that bounce

1:39.6

that we've seen in just the last few weeks or so has added back roughly 9% of the overall market.

1:44.8

So are we setting up for possibly a decent size bounds given some more fundamental catalyst

1:49.7

in the form of earnings reports? Well, if you look at the reason why it's so important,

1:53.8

it's because for market cap weighted indices, and this is in huge here, for these mega market

1:58.3

cap companies with Apple at $2.5 trillion, Microsoft at $1.9 trillion, alphabetted mega market cap companies with Apple at two and a half trillion dollars

...

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