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Eastern. Listen in.

Good Tuesday morning. Welcome to Tech Check. I'm Carl Kintania with Deardrabosa and John Fort.

Today is the Microsoft Activision deal going to come down to Call of Duty. We're going to break

down Microsoft's Olive Branch to Sony today.

Is there uncertainty at the top of Salesforce?

Stocks at its lowest level since March 2020.

Got two key executives recently departing.

Later, Binance tries to correct the narrative and two Wall Street firms with opposite tax on crypto, D, and that's not counting what

Jamie Diamond said about it this morning.

We're going to get to all of that and some more headlines in crypto, but take a look at the

NASDAQ down another 1.5% today.

Weaker start this week.

And let's start Mike Santoli with the divergence in small cap tech versus the mega caps.

Yeah, dude, pretty familiar story right now. It is the largest and once most kind of tightly embraced NASDAQ stocks that have been downside leaders. And in fact, you know, the NASDAQ 100, for example, did not really distinguish itself as a leadership group, even in this little rally we've gotten or had since mid-October.

So this is the S&P tech sector, the NASDAQ 100, as well as small-cap tech.

Now, this is a pretty small ETF, though, that does track the smaller-cap tech universe.

And you see it's actually outperform pretty nicely on a one-year basis.

It essentially not really had the valuation

issues that some of the largest stocks did. It's very hardware-centric. It's a lot of semis. It's a lot of

electrical equipment-type manufacturers. So maybe more adjacent to industrials and just less in the

way of big internet and social media stocks. But you see, that's been a pretty

...