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TechCheck

Breaking Down Affirm’s Earnings, Identifying the Next Big Terror Threat & U.S. Judge Issues Ruling in Apple vs. Epic Trial

TechCheck

CNBC

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

4.566 Ratings

🗓️ 10 September 2021

⏱️ 51 minutes

🧾️ Download transcript

Summary

Our anchors kick off this Friday morning with all the details on Affirm’s earnings boosting the stock over 20 percent this morning. Then, Angel Investor Jason Calacanis joins to share his thoughts on the buy now, pay later trend, the SEC targeting Coinbase and much more. Also, it’s been 20 years since the September 11th attacks, and CNBC’s Eamon Javers joins to cover where the next big terror threat may come from. Plus, we cover the breaking story on a U.S. judge issuing a ruling today on the Apple vs. Epic trial sending shares of Apple down more than 3 percent. We bring in The Verge Editor-in-Chief Nilay Patel, Loup Ventures Managing Partner Gene Munster and Daring Fireball Founder John Gruber to analyze this latest decision and its implications on Apple’s walled garden, the app store and antitrust regulation. 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 Carl Kintania. You're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern. Listen in.

0:07.0

Good Friday morning. Welcome to Tech Check. I'm Carl Kintania with John Fort and Julia Borsston.

0:11.6

Today, buy now, pay later. Gets a lot of affirmation this morning. Get a breakdown of the firm's pretty good quarter.

0:17.8

And if there is still room to run, Then after years in the clouds, we finally

0:21.8

have some new hardware to discuss the latest as Facebook and Amazon rollouts and new products,

0:27.3

glasses and a TV. And finally, it is a somber day here on CNBC as we mark the 20th anniversary

0:33.4

of the 9-11 terrorist attacks. So throughout the hour, we will reflect on what that day meant

0:38.8

and talk about a few business issues related to cybersecurity and defense. John, indeed,

0:44.5

an important day to do that reflection, but we are going to start with a stop. People are

0:50.0

definitely buying now, by now, pay later company, a firm surging. I mean, look at that.

0:55.4

Up 25 plus percent after the company reported 71 percent revenue growth for the quarter,

1:01.6

alongside strong guidance that doesn't even factor in any potential contributions from the company's

1:07.2

partnership with Amazon. That's a program that's still being rolled out globally,

1:11.8

and that a firm did underscore is non-exclusive. Active customers at a firm saw a jump with more

1:17.9

than 7.1 million people using the service. That's an increase of almost 2 million new

1:23.6

customers for the quarter. But keep in mind, even with all the double-digit surges, the

1:28.3

stock's up almost 70% this month, still more than 20% off the highs hit in February and joins

1:34.4

a host of high-growth tech stocks that are surpassing, or at least nearing those February levels,

1:39.9

guys. And I mean, what a quarter here. Max Lepchin has been on with us and has been saying that something like this is coming.

1:47.4

It's not just bikes.

1:48.8

It's not just Peloton.

1:50.4

Gross merchandise volume outside of Peloton.

...

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