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TechCheck

Tech Moves Lower on Hawkish Fed Comments, Breaking Down Potential Disruptors in Healthcare & Plug Power CEO Andrew Marsh on Amazon Hydrogen Deal 8/29/22

TechCheck

CNBC

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

4.566 Ratings

🗓️ 29 August 2022

⏱️ 45 minutes

🧾️ Download transcript

Summary

Our anchors begin today’s show with CNBC’s Dom Chu breaking down tech stocks moving lower following hawkish comments from the Fed on Friday, and New Street Advisors Group Founder and CEO Delano Saporu shares his outlook for mega-caps in the sector. Next, Bernstein analyst Lance Wilkes discusses Amazon’s role as a disruptor in healthcare, and CNBC’s Mike Santoli takes a deep dive into the Nasdaq’s ongoing fall. Then, Evercore ISI Head of Technical Analysis Rich Ross weighs in on the software space, and our Julia Boorstin covers the potential price of Netflix’s upcoming ad-supported platform. Later, fuel cell company Plug Power CEO Andrew Marsh joins for a closer look at the fuel cell company’s green hydrogen deal with Amazon. 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 Julia Borsden, and you're listening to CNBC's Tech Check.

0:03.5

Our show is live weekdays at 11 a.m. Eastern, listen in.

0:09.8

Good Monday morning. Welcome to Tech Check. I'm Carl Kinteneer with John Ford and Dear Robosa.

0:14.3

This doesn't happen to. We'll appear together at CNBC headquarters for the first time.

0:18.8

You wouldn't believe what D&I had to do to get Carl's here.

0:21.6

You had one, you cut the corn.

0:23.6

Today the bears are out and they're coming for tech,

0:26.6

why one analyst says we are still set up for a rally.

0:30.6

Amazon and the CEO plug power on that acquisition and their healthcare ambitions.

0:34.6

Later on, Apple files a trademark, Pinduodoo surges, and Netflix considering a pricing change. We begin today with the tech stocks getting crushed. Once again, the NASDAQ is down by more than a percent following Hawkechage comments from the Fed Friday. Guys, we are right around session lows, only six points off of it for the NASDAQ. And, you know, on Friday, Carl, I know you were off.

0:54.7

The markets actually rallied for a brief moment, as you know, right after that hawkish speech.

0:59.6

And there was this thought that maybe markets had come into more alignment with the Fed's speech right after.

1:05.1

But there's room to go.

1:06.3

And the question is, how much more does it have to do?

1:08.8

We got a big week of earnings, too.

1:10.1

That will give us some direction and of course the jobs report on Friday maybe some of this is just catching up I mean the

1:15.2

Fed officials were trying for a long time it seemed to talk the markets down and it wasn't working at

1:22.1

all remember Mary Dale even talked to me about it and you know at, right? Like, we're not just talking to the economics reporters.

1:29.7

You're talking to the tech anchors as well.

1:32.8

You're really trying to get a message out there.

1:34.7

But seriously, we're going to get some more data this week

1:38.5

that I think will be interesting from some growth-oriented names.

...

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