Etsy CEO Josh Silverman and Code.org CEO Hadi Partovi on Expanding Computer Science Education & NetApp CEO George Kurian on Enterprise Cloud Outlook 7/12/22

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 12 July 2022

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors begin today’s show with CNBC’s Mike Santoli looking ahead to the impact of tomorrow’s inflation numbers on high-growth tech trading, and Morgan Stanley Head of Global Auto Research Adam Jonas offers his thoughts on a potential car from Apple. Then, Etsy CEO Josh Silverman and Code.org Co-Founder and CEO Hadi Partovi join after signing a new letter alongside 500 other corporate leaders calling on governors to expand access to computer science classes in schools across the country. Later, data management company NetApp CEO George Kurian offers his outlook for macro and foreign exchange crosswinds affecting the enterprise cloud space. 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 Carl Kintanilla. You're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern. Listen in.
0:09.5	Good Tuesday morning. Welcome to Tech Check. I'm Carl Kintania with your Dr. Bosa and John Ford. Today.
0:14.5	Inflation's impact on tech. What to expect from CPI tomorrow. Last month, the NASDAQ falling more than 8% in the two days following that release.
0:23.0	This morning, the NASDAQ down slightly, but cloud and enterprise tech getting hit much harder beneath the surface.
0:28.3	Plus, the effect on Tesla from Musk's Twitter war.
0:31.1	We'll talk to Morgan Stanley's Adam Jonas in just a moment about Tesla and Apple, and then move to exit.
0:36.7	That is meta's message to managers as they look
0:39.0	to further cut costs, reduce headcount. We'll discuss what it signals for the rest of the industry,
0:44.5	Deirdre. We're going to start with a series of price target cuts for big tech analysts lowering
0:49.2	estimates or targets for Netflix, Nvidia, AMD, Microsoft, and Apple, all just this morning. For Nvidia, it's gaming revenue that has the street worried for Netflix, NVIDIA, AMD, Microsoft, and Apple, all just this morning for
0:55.2	NVIDIA. It's gaming revenue that has the street worried for Netflix. It is a slowdown
0:59.6	in streaming spend driven by macro headwinds, including inflation. And KeyBank says you should
1:04.6	still own Apple, but they cut their price targets saying the data tells us we should expect
1:08.6	much worse than historical growth for hardware in
1:11.5	the upcoming quarter.
1:13.1	Guys, this all comes as we get into the thick of earnings season.
1:16.3	And John, Carl, this is something that we have talked about in the past.
1:19.5	There's great hopes on the cloud businesses of the three hypers, John.
1:23.7	But I wonder if this earning season could be sort of a reality check. I just went through a list
1:29.8	of some of the biggest players. You're seeing headcount cuts, cuts at startups. Is that going to weigh
1:35.1	heavily on cloud spend? Well, I think even more important, and you're looking at those stocks we got
1:39.8	on the screen right now, notice that Microsoft is down significantly more than the rest and I think
	...

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