Special Report: Lyft CEO David Risher & Big Tech Earnings 7/21/23
Mad Money w/ Jim Cramer
CNBC
4.3 • 4K Ratings
🗓️ 21 July 2023
⏱️ 45 minutes
🧾️ Download transcript
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| 0:00.0 | And welcome, welcome to a special Friday edition of Tech Check. |
| 0:05.8 | I'm Deirdre Bozen. |
| 0:06.8 | San Francisco today, the Dow closed in the green for the 10th day in a row. |
| 0:11.3 | It's the longest rally in six years, but tech, tech is cooled off this week and just ahead |
| 0:16.0 | of the mega cap earnings parade, we've got Google, Microsoft, Meta, Intel, those are the |
| 0:20.9 | names up next week, Amazon and Apple, the following. |
| 0:24.4 | Like last quarter, the Magic Bullet, it may be artificial intelligence, but simply mentioning |
| 0:29.0 | AI a few times on your earnings call or maybe many times, it's not going to cut it. |
| 0:32.8 | We're now in a new show me the money era. |
| 0:35.5 | In video was one of the last tech giants to report last time around. |
| 0:38.8 | You might remember, it's monster surge, showing investors, AI is here and it's going to |
| 0:44.2 | book revenue a lot of it this year. |
| 0:46.8 | So even though we are still in such early earnings companies, they are already charging for products, |
| 0:51.6 | Microsoft announcing earlier this week that it would be charging for its AI tools and shares |
| 0:57.2 | promptly hit an all time high. |
| 0:59.3 | The price, $30 per user per month, pretty steep price and very different than the era of |
| 1:05.7 | tech when products like Gmail were given away for free. |
| 1:09.7 | When analysts estimates it could generate some $14 billion in new revenue a year for Microsoft, |
| 1:16.2 | it's important that investors see that monetization. |
| 1:19.0 | Here's why. |
| 1:20.0 | Seven companies, you may know them as the magnificent seven, they are carrying the market |
| 1:24.9 | right now, making up an I watering 30% of the S&P 500 driven by expectations for AI and |
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