Closing Bell Overtime: Apple Unveils $3,500 AR Headset; SEC Sues Binance, CZ 6/5/23
Closing Bell
CNBC
4.4 • 140 Ratings
🗓️ 5 June 2023
⏱️ 44 minutes
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| 0:00.0 | We've got your score cut on Wall Street with the major indices closing near the lows, but |
| 0:05.3 | winners stay late. |
| 0:06.3 | Welcome to Closing Bell overtime. |
| 0:07.3 | I'm John Fort. |
| 0:08.8 | Morgan Brennan is off today. |
| 0:10.6 | Coming up this hour, we're going to talk to Matt Ball, the founder of the Metaverse E.F. |
| 0:14.8 | About Apple's Prici Vision Pro headset and what that means for other companies in the |
| 0:19.9 | AR and VR worlds, plus Bitcoin and crypto-related stocks pulling back hard today after the |
| 0:26.2 | SEC sued Binance and its billionaire founder, CZ. |
| 0:30.2 | We will break down the crypto's latest crisis with a former SEC attorney. |
| 0:34.6 | But now let's get straight into today's market action. |
| 0:37.2 | Joining us now is Chris Harvey from Wells Fargo Securities. |
| 0:41.1 | Chris, we've got this sort of top heavy market where not only are the big stocks doing better, the big stocks |
| 0:48.5 | have been driven higher lately by AI. |
| 0:51.4 | So what's an investor who wants to be more broadly focused, diversified? |
| 0:57.0 | What's an investor to do? |
| 1:00.0 | So, John, I think there's two answers to that. I think if you want some tech exposure |
| 1:05.2 | But you don't want to pay up as much a lot of the media entertainment names |
| 1:09.0 | They do give you some AI exposure, but at much more reasonable prices. They've popped year to date but |
| 1:16.5 | over the last couple years significant derating on the fundamental and on the price side. The other thing you might want to do is mid cap growth. |
| 1:24.6 | mid cap growth is a space that's up four or five percent year to date and we think |
| 1:28.7 | there's very attractive valuations. Again if you look at the fundamentals if you look at the price, if you look at the price, significant |
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