Quarterly Results from Micron and Braze, Exclusive Highlights from Bob Iger’s Exit Interview & Building the Metaverse

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 21 December 2021

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors begin today’s show on semiconductor maker Micron’s quarterly results, with insight from Cowen’s Karl Ackerman. Then, CNBC’s Mike Santoli joins to look at the broader market picture, focusing on the performance of e-commerce over the past two years. Next, we turn to the highlights from an exclusive interview CNBC’s David Faber held with Disney Chairman Bob Iger, who is stepping down at the end of the year. Wall Street Journal reporter and CNBC contributor Gunjan Banerji also joins to share her take on the market, and our Julia Boorstin launches day one of her three-part series profiling the metaverse. Later, our anchors cover tweets from Elon Musk and Jack Dorsey on Web3, and Bill Magnuson, CEO of cloud marketing firm Braze, visits to discuss his company’s Q3 results.

Transcript

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0:00.0	I'm Julia Borsden, and you're listening to CNBC's Tech Tech. Our show is live weekdays at 11 a.m. Eastern, Tech Check. I'm Carl Kintania with John Ford and Julia Borsden.
0:30.6	Today, the markets do bounce back. We've got another move higher for the chips. Micron Tops
0:35.7	estimates, got an upgrade for Kla and vina also named a top
0:39.3	pick there's a ton going on at semis plus that exclusive sound from bob iger with favor his exit
0:44.7	interview as he prepares to leave disney we'll talk about that and then what growth slowdown
0:49.5	software company braise a recent IPO reporting results for the first time, the stock shooting higher,
0:55.3	and the CEO will join us this hour, John.
0:58.2	Yeah, Carl, back to semis.
0:59.9	As you mentioned, Micron seeing a jump this morning following strong quarterly results last night,
1:04.9	beating on the top and bottom lines, CEO Sanjay Marotra joined Squawk on the street earlier
1:10.3	this morning, touting data center sales,
1:12.3	which grew 70% year over year. The chipmaker's fiscal second quarter estimates also beat
1:18.1	investor expectations, but it's still trailing the overall semi-market, which is up about
1:23.9	40% over the past 12 months, nearly double the NASDAQ. Julia, there's a lot of back and forth
1:32.2	around what's hot between the semiconductors, certain software names. The semis hadn't been running.
1:39.8	Now they are. A lot of it depends on what demand looks like going out from here. And we've had this
1:45.8	narrative that the demand for semiconductors is just going to be huge into the foreseeable future.
1:50.7	We'll see if that remains true.
1:53.4	Well, yeah, look, it's all about the outlook here. When we see that micron move higher, I have
1:57.9	to think a huge amount of that is because of what the CEO said,
2:01.4	saying that they think that supply chain shortages are going to ease in 2022. A lot of optimism.
2:07.1	They're not across the board, but in certain areas, Carl, and looking at how that easing of those
	...

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