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CNBC's "Fast Money"

Countdown to Big Tech Earnings, and Will X Mark the Spot for Twitter? 7/24/23

CNBC's "Fast Money"

CNBC

News, Investing, Business

3.91.3K Ratings

🗓️ 24 July 2023

⏱️ 45 minutes

🧾️ Download transcript

Summary

Alphabet and Microsoft kick of Q2 earnings season for the tech giants tomorrow, but FANG+ stocks have really lost their momentum in recent weeks after a super-strong start to the year. What’s next for the group, and can the reports reignite their rally? Plus Elon Musk is letting the Twitter bird fly the coop in favor of a new, re-branded “X”. Will this company be the super-app he wants it to be? Fast Money Disclaimer

Transcript

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0:00.0

Right now on fast ticking down a big tech we are on the clock for earnings from Alphabet

0:05.4

Microsoft met a snap and much more after a hot start to the year many in the sector suffering

0:09.9

through a sluggish summer will earnings revive this run will debate that plus giving

0:14.7

the bird well the bird.

0:16.7

Elon Musk rebranding Twitter and calling it x part of his plans to make the social media

0:20.8

platform and everything app will it work will regulators allow it and break that down

0:25.7

and later one of our traders talking to tape on a steel stock from Korea that is actually

0:29.8

a way to play the global EV trade inside the monster move in PASCO coming up.

0:35.0

I'm Melissa Lee this is fast one you were live the Nasak market site on the desk tonight

0:38.7

Tim Seymour Karen Fireman Dan Nathan and Guy Dami we start off with the countdown to

0:42.9

big tech earnings Alphabet and Microsoft headline the q2 kick off tomorrow with meta

0:47.5

and intel quickly following suit apple and amazon on the docket next week the reports

0:52.2

comments a group's meteoric start to the year seems to be losing some steam the stocks

0:56.4

led by monster gains and meta in the first half are flatter even down so far in the

1:01.0

month of july and they're far lagging the broader market this month so will this quarter's

1:04.8

reports reignite the rally for big tech where we could we see more rotation out of these

1:09.9

names and that's what we've been talking about a broadening we saw it even today financials

1:13.6

were the big gainers in today's session small caps even did better than the broader market

1:17.3

well first we have to welcome Tim back of course we're selling we'll talk about way

1:22.0

yeah it's actually an encouraging sign that there's obviously some rotation we've talked

1:31.6

about the I'm not pretend I'm bullish I'm not but the fact that the rally is broadening

1:36.0

out as a good sign these high growth have valuation names should pull back a bit you should

...

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