Onsemi CEO Hassane El-Khoury on Earnings, Finding Value in the Nasdaq’s Decline & Apple Faces EU Regulatory Scrutiny 5/2/22

TechCheck

CNBC

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

4.8 • 56 Ratings

🗓️ 2 May 2022

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors begin today’s show with CNBC’s Mike Santoli breaking down Warren Buffett’s recent investments amid the current volatility following this weekend’s Berkshire Hathaway Shareholders Meeting. Then, Morgan Stanley Managing Director Brian Nowak offers his outlook for big tech on the heels of last week’s earnings, and CNBC’s Frank Holland covers tech names exceeding expectations despite the broader sell-off hitting the sector. Next, Onsemi CEO Hassane El-Khoury joins after the chip supplier posted record earnings, revenue and margins in Q1, and Plexo Capital Founding Managing Partner Lo Toney breaks down places to look for value after the Nasdaq posted its worst month since 2008. Later, our Julia Boorstin reports on the stock performance of media giants including Netflix and Roku, and CNBC’s Steve Kovach looks at the regulatory scrutiny facing Apple in the European Union.

Transcript

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0:00.0	I'm Deirdreboza and you're listening to see MBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern. Listen in.
0:07.7	Good Monday morning. Welcome to Tech Check. I'm Carl Cantonier with Deirdreboza and John Ford. The question of the morning how much further can
0:13.5	tech slide? Nasdak having its worst start to a year ever and coming off its
0:19.0	worst session since the early
0:24.0	and the streets and Valley's biggest investors now wearing in Bill Gurley
0:25.1	teasing more pain ahead for those looking to capitalize on tech
0:27.9	valuations that have cratered with Jeff Bezos co-signing that
0:31.5	tweet quote markets teach.
0:33.4	The lessons can be painful.
0:35.6	Meanwhile, Apollo's Mark Rowan warns this morning
0:38.0	of a potential 30% drop in the SMP.
0:40.2	Take a listen.
0:46.6	Technology is going to change the world, but that doesn't mean it's not overvalued. So you look at average S&P PE today, 21, long-term average 16, that's 30% to go.
0:53.5	You know, you look at where the S&P is today
0:55.9	versus where it was at the end of 19.
0:58.2	We have a long way to go.
1:01.1	And not the only one D.
1:02.4	Morgan Stanley's Mike Wilson.
1:04.0	Minimum downside, he says, to 3,800 in the near term, possibly as low as 3460,
1:10.0	the 200 week moving average, as investors come around to the idea that the earnings
1:14.5	yield in the S&P hasn't been this negative in half a century.
1:17.6	Yeah, when it comes to individual names as well, I mean you have to wonder how much
	...

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