Software vs. Semis Amid the Sell-Off, FTC Sues to Block Nvidia’s Arm Acquisition & Marvell Technology CEO Matt Murphy on the Quarter

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

4.5 • 66 Ratings

🗓️ 3 December 2021

⏱️ 49 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors kick off this Friday morning on semis vs. software amid the sell-off in the Nasdaq. Then, we focus on the FTC’s lawsuit to block Nvidia’s acquisition of chip designer Arm before speaking with Bessemer Venture Partners’ Byron Deeter on all things cloud. Also, Marvell Technology CEO Matt Murphy joins after the company beat third quarter estimates with revenue increasing by 61 percent. Then, CNBC’s Mike Santoli is here to take a look at the convergence in tech, IPOs and Cathie Wood’s Ark Fund. Next, DocuSign CEO Dan Springer joins to talk about his company missing revenue and billing guidance estimates, sending shares lower by 40 percent this morning. And later, CNBC’s Dom Chu highlights the biggest movers of the market sell-off and our Jon Fortt brings us a wrap-up of Cloud 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. Listen in. Good Friday morning. Welcome to Tech Check. I'm Carl Kintenea with John Ford and Julia Borsden. Dear Drubosa is off today. Stocks are selling off again. The NASDAQ was down a couple percent. A moment ago. We're going to look at the high growth semis versus high growth software, the FTC twisting Nvidia's arm. The volatility
0:22.8	continues, of course, where should investors put their money to work? Plus, on that theme, we've got
0:27.2	two big movers today. The CEOs of Marvell and DocuSign are going to join us. Those stocks
0:31.9	headed in opposite directions after reporting results. And then a buy call on Peloton, why one Wall Street
0:37.1	firm sees 80% upside
0:39.5	from here. The stock is now reversing, though, some early gains. Julia? And amid today's
0:46.7	sell-off in the NASDAQ, two sectors stick out, semis versus software. The SOXX outpacing cloud names by more than 40% year-to-date to date, two of the biggest
0:58.8	movers in the past 24 hours, DocuSign and Marvell.
1:02.6	The chip maker jumping more than 10% after CEO Matt Murphy told investors they could expect
1:08.8	9% revenue growth for the fourth quarter and 30% growth in fiscal 2023.
1:15.6	Meanwhile, docu-sciencing a complete drawdown plummet's 40% as the company lowers its revenue guidance.
1:22.0	The report spurring a flood of downgrades and price cuts with Ciddy's Tyler Radke calling the results, quote,
1:29.3	one of the biggest SaaS whiffs in recent memory. Both CEOs will join us later this hour.
1:36.9	John, just wondering what you see here as we see this divergence between the different pieces of tech.
1:43.0	Well, Julia, I mean, partly I think we're seeing a shift, a realignment, and expectations.
1:48.9	Like yesterday we had on Frank Slutman from Snowflake, we had on Top McKinnon from Octa.
1:54.0	Look at those charts, though.
1:55.5	Both of those stocks had sold off, and then they turned in these results, and they pop up.
2:01.5	By contrast, you take a look at what's happened in a lot of the hardware names, the expectations
2:07.0	hadn't been so hot, and so Carl, now that people are understanding, particularly when it
2:13.4	comes to Marvell, I've been, we've been talking to Marvell a lot more this year. Matt Murphy
2:18.9	has been inquisitive. He's been saying that they've got a lot of gas in the tank that people
	...

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