Intel CEO Pat Gelsinger on Earnings, Snap CEO Evan Spiegel on New Innovations & Amazon Results Send Shares Plunging 4/29/22

TechCheck

CNBC

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

4.8 • 56 Ratings

🗓️ 29 April 2022

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Our anchors begin today’s show with Intel CEO Pat Gelsinger breaking down the chipmaker’s latest earnings, and Snap CEO Evan Spiegel joins for an exclusive conversation following the social media firm’s annual Partner Summit. Then, CNBC’s Dom Chu looks at Amazon from a valuation perspective after the e-commerce giant posted earnings that missed the Street’s expectations. Later, our Julia Boorstin shares highlights from her exclusive interview with streaming platform Roku CEO Anthony Wood, and CNBC’s Steve Kovach weighs in on Apple’s quarterly results.

Transcript

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0:00.0	I'm Carl Quintanilla. You're listening to see NBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern. Listen in.
0:06.8	Good Friday morning. Welcome to Tech Check. I'm Carl Quintanilla with John Ford and Gerberosa. What an hour we have ahead.
0:12.7	The CEOs of Intel, Snap, and Roku,
0:16.3	all join us in the next 60 minutes.
0:18.5	Plus, Apple's Red again, warning of this $8 billion
0:21.5	blindside due to supply constraints.
0:23.6	Amazon 4 billion dollar loss, bleak guidance, and the slowest growth since the
0:28.9	dot-com bubble burst.
0:30.4	At stocks down double digits, it's on pace for its worst day in over a decade.
0:34.0	Now down nearly 30% since Andy Jassie took the reins about a year ago.
0:39.0	Rising costs a big part of the pain for Amazon. The company says inflation over
0:43.8	investment in warehouses. Extra staffing costs them $6 billion in Q1.
0:48.7	Jassy says we're no longer chasing physical or staffing capacity. Our teams are squarely
0:53.8	focused on improving productivity and cost efficiencies throughout our
0:58.2	fulfillment network. He added this may take some time. John we're going to watch
1:02.4	this closely a lot of chatter today
1:04.0	about whether or not Q4 will be the first profitable retail quarter and
1:09.2	whether or not layoffs for the next chapter. Well this is particularly fascinating Carl and D given this is
1:16.7	kind of Andy Jassy's first big retail e-commerce decision moment I'll say because as Amazon discussed on the call
1:25.1	the capacity build-outs in logistics that were in place a year ago that that turned
1:31.3	out to be too much those were a a long time coming. Those have been
1:34.4	put in place before Jassy himself took the CEO role. And now he's got to adjust
	...

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