Social Media Stocks Stumble, Intel CEO on the Quarter & Robinhood’s Gamification of Stocks

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 22 October 2021

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors start off this Friday morning with Snap stumbling post-earnings in large part due the impact of Apple’s new privacy changes on the company. We also cover Intel’s stock slide after its latest earnings report. Then, Wedgewood Partners CIO David Rolfe joins to discuss the social media space as well as share his take on PayPal’s potential acquisition of Pinterest. Next, Intel CEO Pat Gelsinger joins us in a first on CNBC interview to discuss the company’s quarterly performance. Later, Evercore ISI Head of Internet Research Mark Mahaney is here for more on Snap and social media’s stumble today. Then, CNBC’s Ylan Mui joins with the story on the Consumer Financial Protection Bureau taking on Big Tech. And also, The New Yorker Contributor Charles Duhigg joins to discuss Robinhood and gamification ahead of the company’s earnings next week. 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 Carl Kintanilla. You're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern.
0:05.9	Listen in. Good Friday morning. Welcome to Tech Check. I'm Carl Kintania with John Fort and Julia Borsston.
0:11.7	There are three huge stories in tech today. Nearly 30 billion gone in the snap. The stock tumbling 20% as Apple's privacy changes ripped through ad-supported business models.
0:21.5	Then another huge ecosystem play, Google changing its App Store model, cutting fees, sending names like Bumble, match, and Roblox soaring.
0:29.1	And then finally, third stock at play, that's Intel.
0:31.6	Shares are sinking as sales miss, and the company sees a tough road ahead for its turnaround.
0:36.1	You will not want to miss Pat Gelsinger in a first on CNBC interview.
0:39.7	Just a few moments from now.
0:40.9	We can't wait for it, John.
0:42.0	We are looking forward to it.
0:43.2	And meanwhile, S&P is just about flat.
0:47.0	We did hit an all-time high this morning, though.
0:49.9	September's poor performance firmly in the rearview mirror.
0:52.6	All three indices are set for their
0:55.4	first three weeks in the green since July. NASDAQ just fractionally lower about a little
1:01.5	less than half a percent. Tech has been underperforming ahead of next week's earnings from Apple,
1:06.7	Microsoft, Amazon, Alphabet, Facebook, and Twitter. Julia, who's not reporting next week?
1:13.9	Well, the question is who's not reporting next week, but we already heard from Snapchat,
1:19.1	and that's where we're going to start right now.
1:20.9	That stock plummeting this morning, citing those privacy changes.
1:24.4	That stock now down about 23 percent% saying that the privacy changes from Apple
1:29.1	make ad targeting much more difficult. Also blaming global supply chain issues, which Snap
	...

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