Breaking Down the Bounce in Tech Stocks, Irreverent Labs CEO Rahul Sood on GameStop’s Results & Embark CEO Alex Rodrigues on Quarterly Performance 3/18/22

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 18 March 2022

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors begin today’s show with Crossmark Global Investments CIO Bob Doll discussing whether to trust the ongoing bounce in tech stocks, and CNBC’s Steve Kovach covers the impact of China’s current Covid lockdowns on Apple’s supply chain. Then, Irreverent Labs CEO Rahul Sood weighs in on GameStop’s latest results, and Evercore ISI analyst Amit Daryanani offers guidance on investing in stocks with buybacks and higher dividend yields. Next, CNBC’s Ylan Mui reports on congressional lawmakers investing in Chinese stocks, and our Julia Boorstin reports on women entrepreneurs emerging during the economic recovery from Covid. Later, self-driving truck software maker Embark CEO Alex Rodrigues joins to discuss the company’s first results since going public via SPAC

Transcript

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0:00.0	I'm Deerreboza and you're listening to CNBC's Tech Check.
0:03.5	Our show is live weekdays at 11 a.m. Eastern. Listen in.
0:29.1	Happy Friday. Welcome to Tech Check. I'm John Ford with Deirdrabosa, but not with Dea Deirdrebosa. Unfortunately, Carl is off. Today, bottoms up. One top strategist says the correction
0:35.0	is over is now the time to get back in on growth. And then
0:38.8	no more legacy letdown while one guest is touting Cisco, Dell, and the HPs as his top
0:44.1	picks. Later, GameStop, Gold Mine, or Sweaty, we look at the prospects after disappointing
0:49.2	earnings, Dee. Miss you in the team already, John. This morning, we're going to start with real stocks, the NASDAQ trying for a four-day win streak on pace for its best week in a year. We are still 15% below all-time highs, however. J.P. Morgan's Marco Kalanavik calling the bottom, saying now is the time to start adding risk in many areas that have seen sharp declines. He adds the correction
1:10.8	in bubble sectors is now likely finished. He's not the only one either. Tech investor, Jim Brayer,
1:15.5	was on closing bell yesterday and says he's adding exposure. Take a listen. Particularly Microsoft,
1:22.6	Apple, Google sit at the heart of what will be the next generation of AI and quantum opportunities.
1:29.3	And so on weakness, I continue to add all three to the portfolio.
1:34.3	What I would also say in the private world, we spend so much time doing analysis of management teams and leaders.
1:42.3	And so as long as Tim Cook and Satya and other leaders
1:47.7	are running the companies, I'm a long-term buyer and holder. These are some of the best
1:53.8	executives in the world. And they are recruiting some of the best AI and quantum talent in the
1:59.2	world. So Breyer is adding, on the other hand, how about Eminence Capitals, Ricky Sandler, saying the selling is not over?
2:09.3	We've definitely corrected some meaningful amount of where the exuberance was.
2:14.7	I personally don't think it's over.
2:16.8	I don't think that we have cleaned out
2:19.2	all of the excessive optimism on companies that are growing just top line but not profits or
2:26.0	companies that have large TAMs but difficult paths to attack those TAMs. So I think we've had a good amount of the damage, but I don't think
2:36.5	we're done with it. So Sandler said that he's buying names like Coupon, Salesforce, at these levels.
	...

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