Special Report: All Things Tech & AI 7/7/23

Mad Money w/ Jim Cramer

CNBC

News, Investing, Business

4.3 • 4K Ratings

🗓️ 7 July 2023

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

CNBC's Jon Fortt discusses all things tech including Amazon's advantage in A.I and Meta's "Threads" app.

Transcript

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0:00.0	Welcome to the special edition of Tech Check on CMBC.
0:07.0	I am John Forte, Jim Kramer's off tonight.
0:09.0	A well-timed special Tech entered the second half of the year after the momentum.
0:14.0	The monster run to start 2023.
0:17.0	The NASDAQ had its best first half in 40 years.
0:20.0	The XLK Tech ETF up 39% year to date.
0:24.0	Those gains have really been mostly among the biggest players.
0:28.0	As we've discussed, the magnificent 7 is summer calling them.
0:32.0	Semiconductors, they've done pretty well, especially given Nvidia and AMD.
0:36.0	But legacy tech like Cisco and IBM, those stocks trail.
0:40.0	And newly public companies, emerging tech recent IPOs, some of those struggled as well.
0:45.0	Stocks like Hashimoto and KagerDuty.
0:47.0	So, what do you do now?
0:49.0	That is the big theme that we are taking up tonight.
0:52.0	Can you trust the same story to keep playing out in the second half of the year?
0:56.0	You kind of never can.
0:57.0	Well, new today, the data from the jobs report that gives us a bit of a better picture of the labor environment.
1:03.0	The total number came in below expectations.
1:06.0	But the employment picture remains robust.
1:08.0	We still added more than 200,000 jobs in June.
1:11.0	Wage growth remains high.
1:13.0	I sat down with Amazon CEO Andy Jassy yesterday.
	...

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