Breaking Down Snap and Twitter Earnings, Intel CEO on the Quarter & Mark Zuckerberg and the Metaverse

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 23 July 2021

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors kick off this Friday morning with all the details on Intel, Snap and Twitter earnings reported after the bell yesterday. Then, RiverPark Funds Co-CIO Mitch Rubin is here to further discuss social media stocks. Next, CNBC’s Eunice Yoon covers the developing story on China’s crackdown on ed-tech with related stocks plummeting over 50 percent today. Plus, we hear from Intel CEO Pat Gelsinger on the quarter, the chip shortage and much more. We also have “Platformer” Editor Casey Newton join to discuss Mark and the metaverse after Newton’s recent interview with Mark Zuckerberg. Later, we have the story on delivery startup Gopuff set to close a $1 billion funding round valuing the company at $15 billion. And also, CNBC’s Phil LeBeau joins to interview Magna International CEO Swamy Kotagiri on the company’s recent acquisition of driver assistance supplier Veoneer.

Transcript

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0:00.0	I'm Carl Kintanilla. You're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern.
0:05.9	Good Friday morning and welcome to Tech Check. I'm Deer Droza with Julia Borson. John and Carl are off this morning.
0:13.3	Intel shares under pressure this morning. We've got CEO Pat Gelsinger this hour first on CNBC.
0:18.7	Snapchairs take a look at them. They're surging today inside that earnings
0:22.0	beat and the jump in user growth. Later, we will talk Twitter and its fastest revenue growth in
0:27.4	seven years. But we're going to start off with Intel, those shares down nearly 3%.
0:34.5	Often a warning on current quarter margins.
0:38.9	Intel did post a beat on the top and bottom and saw PC unit sales rise more than 30%
0:44.6	year over year.
0:46.0	Notably, CEO Pat Gelsinger, who you'll hear from in just a moment, said the global
0:50.6	ship shortage should bottom out by the end of 2021. But that supply constraints
0:55.9	could be an issue up until 2023. Our colleague John Ford spoke to Gelsinger last night on the
1:02.0	quarter, but also about those global foundries acquisition rumors. Here's what he said.
1:08.1	We expect to see consolidation in the future.
1:11.6	We're not going to address any specific rumors that might be in the industry, but we're a big player.
1:17.6	I expect that we'll be a consolidator as those natural effects take place.
1:23.6	Can the director talk to me?
1:25.6	That full interview rolls out in just a few minutes, so don't go anywhere.
1:33.4	Julia, let's talk some snack, though.
1:35.3	That stock is flying today.
1:37.8	A huge beat of its own on earnings and revenue.
1:41.2	Year-over-year boosts of more than 100% there with CEO, Evan Spiegel, saying
	...

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