Checking in on Semis, Wedbush Securities’ Market Take & CrowdStrike CEO on 10th Anniversary

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 21 September 2021

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors kick off this morning with CNBC’s Mike Santoli for a check on the semiconductor ETF and the software sector. Then, CNBC’s Kate Rooney is here to cover how Ark Invest’s Cathie Wood is playing the sell-off. Next, Wedbush Securities’ Joel Kulina is here to give his take on the market and share where he sees opportunity. We also cover the pop in Uber today after the company boosted its third-quarter financial outlook. Then, Bernstein Analyst Stacy Rasgon joins for a check on semiconductor stocks- which he says are increasingly becoming an enigma. We also cover the latest in gaming with Netflix releasing its first game… but not Netflix. Later, CrowdStrike CEO George Kurtz joins on the cybersecurity company’s 10th anniversary. We also cover the highlights from iPhone 13 reviews out this morning and Apple’s latest push into health. And later, Revolut CEO Nikolay Storonsky joins as the company announces it will launch commission-free stock trading in the U.S. 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 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.
0:08.2	Happy Tuesday. Welcome to Tech Check. I am John Ford with Carl King Tenea and Julia Borson.
0:12.4	Today, well, the story was going to be a bounce back from yesterday's selloff, but that
0:16.0	bounce has disappeared. All averages in the red are just about it flatline and we're looking at semi-software,
0:22.6	Big Tech versus Small. And what moves Kathy Wood made to rebalance her portfolio yesterday? What
0:28.5	should you do or not do in this market? We will discuss. And then an exclusive with the CEO
0:33.7	of Cybersecurity Giant CrowdStrike, as that company's stock has quadrupled since its IPO.
0:39.7	And finally, a check on Apple.
0:41.3	Reviews of the iPhone 13 are out today.
0:45.0	iOS 15 out to what Apple's newest hardware and software will mean for the company and the stock problem.
0:52.1	All right, John, we're going to start, though, with the continuation of
0:54.6	this week's sell-off. Dow's down 40 points, giving up all of the early gains this morning.
0:59.6	That early rebound now completely wiped out. Our senior markets commentator Mike Santoli
1:03.5	joins us with more as we watch to see if the NASDAQ turns red. Mike?
1:07.9	Yeah, Carl, maybe a little unfinished business. Yesterday's final half-hour
1:11.2	rebound might have stolen the usual next day bounce from pretty stretched conditions to the
1:16.8	downside. Take a look at the semiconductor ETF. What's interesting about the sub-sectors of tech relative to
1:23.8	the S&P 500. The big news yesterday and Friday was that the S&P 500 kind of broke below. It's 50-day average. It stayed there for a couple days. That's the first time in 10 months. Well, the semi-ETF is actually sitting right on its own 50-day, and you see that it really hasn't gone back that far in time, still above the August lows, still in more of an up trend than the overall market is same is true true for the NASDAQ 100. You could also take a look at the software sector. Very similar. The magnitude of gains year to date is actually on par with what the S&P is doing, but the gains came more recently and you see that that actually is well elevated relative to where it was trading mid-summer or so, Carl, also above its 50-day average.
2:01.6	Does that mean there's more air under these sectors for it to come out and rotate out of?
2:04.9	That's one of the questions would probably look to answers.
2:07.3	We try to gauge the caliber of the attempted bounce this morning.
	...

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