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 Monday morning. Welcome to Tech Check. I'm Carl Kintanilla with John Fort and Dear Robosa. Today, New Year, same trade. Bullish calls on the chips from the street. AMD, Micron, Marvell, and Qualcomm are all getting a boost. Later on, Tesla kicking off 2022 with the bang,

why that stock is up more than 9% on the first trading day of the year.

Finally, Verizon and AT&T say no to regulators is a 5G rollout coming your way soon, Dee.

Well, Carl, our feed starts with chip stocks.

Golden Stocks today includes Micron, AMD, and Marvell Tech among its top stock picks for 2022, while Piper Sandler says Qualcomm could see huge gains.

Now, the sector's already coming off a big year, easily outperforming the S&P, thanks to huge demand contributing during a continued global shortage. One analyst this morning says that there is more to come, John. predicting chip sales will grow more than 10% this year.

And yes, it outperformed the past year 2021, but it's actually the third consecutive year, John,

that chips have outperformed. Well, Carl, D. First, happy new year. Great to be back with you. I think this is a time where we've got to really emphasize the difference between stock performance and financial performance of a company. Because I think there's this tendency to always assume, oh, what happened yesterday is baseline. So if a company does well, then the stock ought to go up, or if it doesn't do well, the stock ought to go down.

We are just in uncharted territory now, coming through this pandemic, the demand for tech,

still in the pandemic with Omicron, the demand for consumer technologies and office technologies

and cloud technologies to keep things running. But then at the same time, with what the Fed is signaling and interest rates, perhaps cooling some of the loftiest valuations out there. So it's going to be really interesting conversations, I think, that we're having with analysts and with technology watchers about where the value really is. And perhaps, Carl, you know, what's been beaten down that deserves to come back.

Yeah, it's going to be a complex trade, John.

You're absolutely right.

You've got the macro concerns which you reference regarding the Fed and a lot more.

But also, even within the Goldman call this morning, Dee, they're doing the barbell thing where, on the one hand, there's huge secular growth stories like AMD.

On the other hand, there might be value in cyclical growth with autos, so they upgrade a micron and an on-Semi.

There's going to be a lot of crosswinds to read within chips themselves.

Yeah, it's time to get discerning, right, John? That seems to be the trend here. You've got to look for bargains in the space now because there's a lot of disparity. In terms of those multiples throughout MU, Micron is one of the more cheaper valued. Also, John, you spent a lot of time talking about Pat Gelsinger over at Intel, also among some of the sort of cheaper chip stocks. And when you say you have to sort of distinguish between the stock price and the

financial performance, certainly that's the case with an Intel after 10 years of sort of struggling,

it's going to take some time to turn that chip around. Well, but I think part of the question is, how well does, say, Intel have to do to go higher

from here versus how well does an AMD or a Qualcomm have to do?

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