Finding Value in China Tech, Looking Ahead to Apple’s 2023 & Motive CEO Shoaib Makani on Supply Chain Woes 12/28/22

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 28 December 2022

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Our anchors begin today’s show with GFM Focus Investing Co-Founder Anand Batepati sharing his bull case for Chinese tech stocks. Then, CNBC’s Steve Kovach and Cowen Managing Director Krish Sankar offer their outlook for Apple in 2023, and CNBC’s Kristina Partsinevelos breaks down some of the top movers on the Nasdaq. Next, CNBC’s Bob Pisani joins for a conversation on the broader IPO market, and Citi analyst Ygal Arounian shares his top picks across digital advertising and e-commerce. Later, trucking fleet management company Motive CEO Shoaib Makani discusses potential supply chain roadblocks for the year ahead. 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 Julia Borsden, and you're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern, listen in.
0:07.8	Happy Wednesday morning. Welcome to Tech Check. I'm Georgia Bozo with Julia Borsden and Frank Holland. Carl and John have the morning off.
0:13.9	Today, the NASDAQ is struggling to notch some gains in a volatile last trading week of the year.
0:18.8	Is there opportunity in this downturn. One possibility
0:21.9	maybe Apple hitting its lowest level since June of 2021 is the time to buy at a discount. We will
0:27.9	discuss that. Plus how to play the China reopening. Why one portfolio manager sees opportunity
0:33.5	in Alibaba, Tencent, Invidia, and Palantir. But guys, we will start with this week's
0:39.8	tech turmoil. No Santa Claus rally in sight for the sector. The NASDAQ following 1.4% yesterday as
0:46.9	bond yields jumped higher. It is now down more than 30% on the year, and that's on pace to break a
0:52.0	three-year winning streak with the index's worst
0:54.5	performance since 2008. Take a look at some of these valuation declines. Amazon and Apple
0:59.9	losing more than $800 billion in market cap, Alphabet, Microsoft and Tesla, they're not
1:05.5	far behind. Julie and Frank, these six stocks on the screen plus Nvidia, they've lost about $5 trillion in combined value.
1:14.9	They're responsible for about half of the entire U.S. market losses, which really tells you a lot, Julia, about this year and the role that big tech has played.
1:24.7	Yeah, just the fact that those seven companies, all tech companies, of course,
1:28.4	could be responsible for $5 trillion in combined valuation loss really tells the story of how much
1:34.4	has changed this year. You know, if you look back at January, where we were in January,
1:38.9	how things have changed dramatically since the war in Ukraine. And then the total tech wreck. What happened with the
1:46.0	cryptocurrency, Bitcoin, ether, the decline in cryptocurrencies. And then of course, the sort of
1:51.3	culmination of that in the implosion of FTX. It really does seem, Frank, like more has
1:56.4	changed this year than we've seen in terms of transformation in any other recent years, probably since 2008, 2009, if you look, sort of take out the disruption of the pandemic itself.
2:08.7	Yeah, you know, Julie, I was just looking at the NASDAQ right now. I mean, the NASDAX lost about 500, almost 600 points in December.
	...

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