Nasdaq Volatility Continues Into Year-End, Citi Names Amazon Top 2023 Pick & Cowen Calls Take-Two Interactive Best Idea in Gaming 12/19/22

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 19 December 2022

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors begin today’s show with CNBC’s Mike Santoli analyzing the Nasdaq’s volatility heading into year-end, and Wedbush Securities Managing Director Sahak Manuelian offers his outlook for software and semiconductors. Then, CNBC’s Steve Kovach covers Elon Musk’s latest Twitter poll on whether he should step down as the platform’s CEO, and “Margins” Editor Ranjan Roy discusses opportunities ahead for Meta. Next, Citi Managing Director Ron Josey joins after naming Amazon his top Internet pick for 2023, and CNBC’s Kate Rooney reports that FTX Founder Sam Bankman-Fried plans to surrender himself to U.S. extradition. Later, Wall Street Journal reporter Gunjan Banerji discusses the state of retail trading, and Cowen Managing Director Doug Creutz explains why he named Take-Two Interactive his top gaming idea for 2023. 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 Deirdreboza and you're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern. Listen in.
0:08.8	Happy Monday. Welcome to Tech Check. I'm John Fort with Frank Holland here with me on the desk. Call and Deirdre are off.
0:15.7	Today, more on the street's top tech picks and where you should put your money from software to social media as the NASDAQ continues its fall this morning down a little more than 1%. More on the streets top tech
0:28.3	picks, yes, and plus retail investors buying the dip this year and bumping their heads on the ceiling
0:34.8	again and again on the way down while institutions get buried.
0:38.3	So who's right?
0:39.2	We're going to discuss.
0:40.5	And finally, productivity is the word of the hour with new comments from Salesforce's Mark Benioff,
0:46.1	more on what he said and why it could mean more layoffs ahead at the giant and across tech.
0:53.1	Later this hour, Frank.
0:54.2	Yeah, a lot of news surrounding sales force in recent weeks.
0:56.6	All right.
0:56.8	We're going to focus right now on the NASDAQ.
0:58.2	Continuing its ride lower this morning as the volatility continues.
1:01.6	And growth investors, they seek any signs of a Santa Claus rally into year end.
1:06.4	Senior markets commentator Mike Santoli joins us now with much more.
1:09.7	Good morning, Mike.
1:10.9	Hey, Frank. And not much evidence right now of any turnaround in the weak trend so far this year
1:16.2	in the last couple of weeks of the year. A couple of big issues, though, I think, carrying it to
1:20.2	2023 when it comes to growth in tech investing, which is the interplay between stocks and bonds.
1:25.3	Now, for a couple of years, I've tried to argue that rising yields
1:28.4	are not the story about why growth stocks have been weaker or stronger for that matter in 2021,
	...

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