Tech Roiled by Market Sell-off & Finding Top Chip Stocks for 2023 12/15/22

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 15 December 2022

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors begin today’s show with NorthmanTrader Founder Sven Henrich offering his insight on the Fed announcing another 50-basis-point rate hike. Then, we cover Jefferies downgrading Snap to hold with our Julia Boorstin and the analyst behind that call, Brent Thill. Next, CNBC’s Steve Kovach looks at the big tech names hit hardest by this morning’s sell-off, and Satori Fund Founder Dan Niles weighs in on the turbulence roiling the markets. We also take a deep dive into the impact of Elon Musk’s Twitter takeover on Tesla with FullCycle Founder and Managing Partner Ibrahim AlHusseini and Oppenheimer analyst Colin Rusch. Later, Morgan Stanley analyst Joseph Moore and Cowen analyst Matthew Ramsay outline their top semiconductor stocks for 2023. 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.
0:07.8	Good Thursday morning. Welcome to Tech Check. I'm Carl Kintanilla with Deer Drabosa and John Fork.
0:12.1	Today, stock's under major pressure, as you can see, following that 50 basis point rate hike by the Fed.
0:17.9	NDX losing more than $5.5 trillion in market value this year.
0:22.1	More than 95% is in the red today. Elon Musk sells another big chunk of Tesla, but one firm
0:28.4	says now is the time to buy. We'll talk to Oppenheimer's analyst who names it a top pick.
0:33.6	And then the street thinks chips can once again be key growth drivers in this market,
0:38.6	AMD, NVIDium, Marvell, and others as top picks, although definitely feeling some pain today.
0:44.4	We're going to begin the morning, though, with markets moving lower.
0:47.2	Our next guest sees a recession on the horizon, doesn't think the economy can keep up as rates approach 2007 levels,
0:53.6	with U.S US GDP having doubled.
0:55.6	Joining us this morning, Northman Trader, founder, lead market strategist,
0:58.7	Sven Henrik is with us once again. Sven, great to have you.
1:02.2	Hi, I'd call it. Great to be with you.
1:04.2	So I know for a moment there, there was a period where you were beginning to think about
1:09.7	how to get more constructive.
1:11.5	Is that gone for now?
1:14.1	Yeah, we were constructive there definitely mid-October.
1:17.0	I mean, the technicals told us this big rally was coming and into possibly the weekly 50 MA on the S&P.
1:23.4	And we got that actually this week.
1:25.7	I'm still kind of constructive because we're entering a really positive seasonality period here into year end and beginning of the year.
	...

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