I'm Julia Borsden, and you're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern,

listen in.

Good Thursday morning, and welcome to Tech Check.

I'm Deer Draboza with Carl Kintania and Julia Borsden.

John has the morning off.

Today, Qualcomm surges Roku tanks plus earnings from Activision, Take 2 and Etsy.

Then Ford wants to beat Tesla at its own game.

The CFO will break down its $30 billion spending plan this hour, and later, Dan Niles makes the case for why Apple is the most overpriced tech stock out there, Carl.

First up, our feed's going to start with Qualcon today. Big earnings beat, strong guidance, a 56% rise in smartphone chip sales, powering those shares up almost 12% today. It's turning the street bullish, too. Goldman ups to a buy this

morning says there's still a 40% upside to the stock. Piper moves Qualcomm to its top large cap pick,

also overweight and takes its price target to 190 we talked to

christiano amon later earlier this morning in the nine take a listen by all counts our diversification

strategy is working and it's it's working because at the end of the day the market is moving to a

roadmap winning with technology.

And if 38% doesn't indicate that the diversification is really working, I don't know what it does it.

But the important thing to answer your question is, we have now many great vectors of growth in addition to handsets.

Shares, a Qualcomm, as we said, up almost 12% today.

And by the way, in Vidia, as David was just saying, up again today, the best performing tech stock so far this year,

Deirdre, as the market really does seem to be coming around to understand these structural issues in which chips are getting used, whether it's the Metaverse or better use in cars or the classic chip smartphone business, the streets really gotten positive.

And for Qualcomm, the story here was really one of diversification, which perhaps prior to the chip shortage was seen as complicated,

but paying off 38% of revenue coming from categories other than modem chips for smartphone.

And of course, you mentioned this, Carl, Metaverse, the new sort of AI buzzword for CEOs these days.

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