Nasdaq Rallies to End January, Spotify’s New Covid Misinformation Precautions & Micron CEO Sanjay Mehrotra on Chip Industry Expectations

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 31 January 2022

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors begin today’s show with CNBC’s Mike Santoli covering the Nasdaq’s rally to end the month. Then, our Julia Boorstin reports on streaming giant Spotify taking steps to prevent the spread of Covid misinformation, and Citi Managing Director Jason Bazinet joins after upgrading Netflix and Spotify. Next, chipmaker Micron CEO Sanjay Mehrotra shares his expectations for the industry following a record year for global semiconductor sales, and GGV Capital Managing Partner Jeff Richards discusses software amid strong earnings for sector names including Microsoft, Qualtrics and ServiceNow. Later, CNBC’s Dom Chu covers investors pulling money from Cathie Wood’s ARK Funds to start 2022, and D.A. Davidson Senior Research Analyst Christopher Brendler visits for a closer look at fintech company Affirm. 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 John Fort.
0:00.8	You're listening to CNVC's Tech Check. Our show is live weekdays at 11 a.m. Eastern. Tech Check. I'm Carl Kintanilla with John Fort and Dear
0:28.5	Derbosa. Today, stocks rally to close out the month of January. The NASDAG hired by nearly
0:33.2	2% trying to avoid the worst January ever coming as we await quarterly results from Alphabet, Amazon, Meta, Snap, AMD, and others this week.
0:42.3	Then more artists joined Neil Young in calling for a boycott of Spotify.
0:46.3	Despite the exodus, the stock does get an upgrade today, along with some other subscription-based companies.
0:51.7	Plus, one Wall Street firm deciding to buy now.
0:54.2	The analyst calling the bottom on a firm is with us this hour.
0:58.5	We're going to start, though, with the market.
0:59.9	Tech is surging at the end of what has been a tough month, and we are set to get a whole
1:04.1	roster of catalyst this week out of earnings and some macro.
1:07.4	Mike Santoli.
1:08.7	Yeah, Carl, a market giving back just a little bit of what's been
1:12.1	taken from some of the hardest hit areas that does kind of NASDAQ 100 types of qualified,
1:17.5	but also, you know, the hypergrowth pandemic stories. A two-year chart is kind of fun right now,
1:22.6	right? It takes you to write to the precipice of the COVID crash. And here's some of those
1:26.8	names, Snap, DocuSign, PayPal, up almost exactly, you know, a similar
1:31.6	amount over that span of time and still outperforming the S&P 500, even after making this huge
1:37.3	round trip higher.
1:39.0	What's interesting is, you know, you look at Snap or DocuSign.
1:42.2	They trade right now at effectively the same price to sales ratios
1:45.6	as they did two years ago. So no more expensive, but also you wouldn't necessarily say cheap,
	...

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