South Korea’s New App Store Law, Adobe CEO Shantanu Narayen on New Innovations & SARK Inverse Fund Trades Higher than Cathie Wood’s ARKK ETF

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 15 March 2022

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors begin today’s show with CNBC’s Dom Chu taking a deep dive into the software sell-off, and Wall Street Journal tech columnist Laura Forman discusses her latest piece on companies pivoting their business models. Then, CNBC’s Steve Kovach breaks down a new app store law in South Korea targeting Apple and Google, and CNBC’s Kristina Partsinevelos covers the renewed push for domestic semiconductor manufacturing amid fears of China invading Taiwan. Next, Citi analyst Chris Danely also weighs in on investor concerns surrounding chip stocks, and Adobe CEO Shantanu Narayen joins for an exclusive interview from the first day of the Adobe Summit in San Jose. Later, CNBC’s Kate Rooney looks at investors generating passive income using their digital assets, and Tuttle Capital Management CEO Matthew Tuttle joins as his inverse fund betting against Cathie Wood’s ARK Innovation ETF trades higher than Wood’s.

Transcript

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0:00.0	I'm Deerreboza, and you're listening to CNBC's Tech Check.
0:03.5	Our show is live weekdays at 11 a.m. Welcome to Tech Check. I'm George Fosso with John Ford.
0:29.0	Today, love the way you lie, both the NASDAQ with the NASDAQ with the NASDAQ bouncing off its 15-month lows.
0:33.7	A look at the tech promises you should and should not believe then software's
0:37.8	boulevard of broken dreams, a breakdown of the sector as Cupa drops like a rock, and another
0:42.1	investor gets bullish on a different name in the space. And speaking of, do not miss Adobe CEO
0:47.4	Shantanune, Orion, and an exclusive later this hour on the heels of some new announcements
0:51.8	within the software space. We've got a big hour ahead,
0:54.7	John. Big, big. Let's start with the software trade in today's feed. Cooper shares plunging about
1:00.4	18 percent. It's now lost nearly a third of its value in the last week after issuing a weak
1:06.7	outlook downgrades from Piper Sandler and Oppenheimer this morning as well as a slew of
1:11.5	price target cuts now down 75% from its recent highs so where is their value within software
1:18.7	altimeter capitals brad gersner has high hopes for one name in particular snowflake we think
1:27.1	this is a 3x in three years, even if software multiples remain at these levels
1:33.2	near the five-year average, right?
1:35.8	It's our largest position.
1:37.3	We're not selling, but we acknowledge that it's been rough for our investors, rough for us.
1:42.1	It's been a big drawdown this year.
1:44.9	If you look at, if you look at, you know, what we expect to occur over the rest of the year, this stock will
1:51.0	compound as it continues to beat earnings, as it continues to expand its use cases, even without
1:57.6	multiples expanding, right, as investors begin to look at those higher numbers in 23 and 24.
2:05.3	Snowflake is higher this morning, up about 1 and 3 quarters percent.
	...

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