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TechCheck

Okta CEO on the Future of Work, HBO Max Chief Andy Forssell Post AT&T Earnings & Uber’s Latest Acquisition

TechCheck

CNBC

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

4.566 Ratings

🗓️ 22 July 2021

⏱️ 44 minutes

🧾️ Download transcript

Summary

Our anchors start off the morning with the latest street calls on Airbnb and Microsoft. Then, Nuveen CIO Saira Malik joins to share her top tech picks amid earnings season. Next, Okta CEO Todd McKinnon joins to discuss the future of work, cybersecurity and much more. Plus, we check-in on crypto following the B Word Conference’s kickoff yesterday. Later, HBO Max EVP and General Manager Andy Forssell is here to discuss the company’s growth and strategy following AT&T’s earnings report released this morning. Then, we preview what to expect from Intel earnings slated for after the bell today. We also have the details on Clubhouse scrapping its invite only model and opening its doors to all users. And later, Uber Freight CEO Lior Ron is here to speak about Uber’s acquisition of Transplace announced this morning.

Transcript

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0:00.0

I'm Carl Kintanilla. You're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Welcome to Tech Check. I'm Georgia Bozo with John Ford and Julia

0:29.8

Borsten, Carlosoff. Today, calling it one of the most compelling stocks in our coverage

0:35.9

why BTIG is so bullish about Airbnb this morning,

0:38.7

then Microsoft has a new street high today. Why City says a 30% upswing is still ahead for that

0:45.8

stock. And later, California sues Activision Blizzard alleging a culture of sexual harassment.

0:51.4

The latest on that developing story.

0:59.5

Also this hour calls on Snap, Twitter, and Intel ahead of earnings tonight.

1:04.4

Analyst are predicting a big drop for one of those names. We'll tell you which one in a moment.

1:10.5

But for now, let's start with that bullish call out of BTIG, taking Airbnb up to a buy,

1:12.2

price target of 170.

1:17.6

They weren't interested when the stock was over 200, but at sub 140, well, that's a different story.

1:21.8

They argued the uncertainty around the Delta variant creates an attractive entry point,

1:28.7

and that Airbnb is better positioned than peers if people become wary of hotels and cruises again. The hang up, though, D, for them is still valuation even at this attractive entry point. Well,

1:35.8

valuation compared to the travel industry, the OTAs, right, the Expedia and booking.coms of the world.

1:41.8

What's so interesting is this note says, though, that they want

1:44.8

to compare it to other platforms, gig economy platforms like DoorDash and Uber and Lyft. And in that

1:51.2

sense, the valuation, Julia, is compelling. Another interesting thing here, Apple, pushing its return

1:57.7

to the office. And if we see other companies do the same thing, that could be bullish for the company. We heard from Brian Chesky a few months ago. First quarter results showed

2:05.7

us that people are extending their stays. They're staying for longer. So that continues to happen.

2:11.2

We could see that trend really continue as well, Julia. Yeah, Dee. we'll see how Airbnb benefits from the hybrid workforce.

2:21.1

Now, let's turn to Microsoft.

2:23.0

City says a strong finish to 2021 is coming, takes the price target up to a street

...

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