Micron’s Earnings Beat the Street, HashiCorp CEO Dave McJannet on Enterprise Spending & Fraud Concerns Surrounding the Metaverse 3/30/22

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 30 March 2022

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors begin today’s show covering chipmaker Micron’s earnings beat with Piper Sandler Senior Research Analyst Harsh Kumar, and CNBC’s Dom Chu looks at Apple aiming for its 12th consecutive day of gains. Then, Bessemer Venture Partners’ Byron Deeter weighs in on the cloud sector, and CNBC’s Robert Frank breaks down how President Biden’s billionaire tax could lead some publicly traded businesses to go private. Next, our Julia Boorstin profiles the Street’s outlook on Disney, and software firm HashiCorp CEO Dave McJannet offers insight on enterprise spending and the company’s performance since its December IPO. Later, CNBC’s Steve Kovach discusses video game publisher Activision Blizzard’s agreement to settle a sexual harassment lawsuit against the company, and CNBC’s Kristina Partsinevelos reports on fraud and security concerns surrounding the metaverse.

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.
0:07.4	Good Wednesday morning. Welcome to Tech Check. I'm Deerbozo with John Fort and Carl Kintania.
0:12.1	Today, the chip stock rebound, a breakdown of Micron's stellar quarter. As names like Nvidia lead the tech rally higher and where things could go from here and then
0:20.9	cloudy forecasts why Bessemer's Byron Dieter says it could take 20 months for cloud stocks to come
0:25.9	near their pandemic peaks plus his top picks for the space. And finally, the mouse is in the house.
0:32.3	There is a new bull on the street when it comes to Disney and we will tell you why later this hour.
0:36.4	Carl. We're going to start
0:38.7	though with the chips as a de said take a look at the SMH up about 15% since the 14th of march
0:45.2	and since January escaping the smackdown that has hit so many growth names chips down just
0:50.3	9% year-to-date versus the for example, down 17% in that time.
0:54.7	It's been a sea of green for chip names amid the rebound, names like
0:57.9	Nvidia and AMD up double digits.
1:00.2	And then Micron, of course, on the move this morning.
1:03.2	That company with a beat in their latest earnings and projecting record revenue for the current quarter.
1:07.9	We talked to Sanjay Marotra earlier this morning.
1:10.2	He waited on the chip
1:11.2	shortages in an interview earlier on squawk on the street. In certain parts of the markets,
1:18.9	in certain parts of the semiconductor industry, and some of the shortages do still continue,
1:24.5	and we see those continuing into 2023. So overall, yes, shortages are easing
1:30.7	in most areas, but in some areas they are still continuing and will continue to challenge
1:35.6	the industry into 2023 as well. Marota added that Micron's expecting cost increases stemming
1:42.8	from the Russia-Ukraine conflict on the earnings call,
	...

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