I'm John Fort. You're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern. Listen in.

Good Wednesday morning. Welcome to Tech Check. I'm Carl Kingtonia with John Ford and Dear Drubosa.

Today, the Everything Rally. Tech sector coming off a record close. What is the playbook now?

Plus, a downgrade for PayPal and Roku while Amazon and Peloton are named as fresh picks.

And then there's the EV Mania, Lucid and Rivian, bigger than Ford by market cap. Elon sells more Tesla shares.

We're going to dive into the valuation debate there, Dee.

And Carl, we're going to start right here at one market. The tech sector coming off a record close,

so slightly lower and early trading as an investor.

What do you do now?

A lot of analyst ideas today, but perhaps the biggest Goldman names Amazon. It's top pick for next year. Thrilled, Jim, to have you back with us, I get to. We've got to make this a regular thing. Oh, I'd love to. fascinated to hear your thoughts on Amazon,

especially in light of the other retail earnings that we've got over the last few days.

I've had this epiphany.

When you go back to 19 years, fascinated to hear your thoughts on Amazon, especially in light of the other retail earnings that we've got over the last few days.

I had this epiphany. When you go back to 1999 and you look at the 350 companies that came public during that, say, 12, 13-month period going, bleeding into 2000.

People thought, you know what, that's better on a dozen of them. At least six or seven have to come through. Well, the only one that really came through was Amazon, which, of course, was a big way. Right, big way. And that was born before that period. Once again, Amazon is the one that you want to bet on. And that's because it keeps morphing into other companies, other different things. And that recommendation was really about advertising. That's really been, I felt,

the next part of the flywheel. Obviously, we have retail. It started with books. Retail's very

powerful. And then Amazon Web Services, which you know is a juggernaut. But that piece just basically

says, look, do not underestimate the power of Amazon advertising.

Yeah. And this is sort of, John, a third pillar we like to talk about.

Analysts like to guess what is that going to be advertising, certainly in the running.

It's grocery business, though.

We heard a lot from both Target and Walmart that are, quite frankly, doing a lot better than Amazon and the grocery business, right, John?

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