Tesla "AI Mojo" Upgrade, Qualcomm-Apple Chip Deal, A Busy Market Week 9/11/23

Squawk on the Street

CNBC

Investing, Business, News

4.1 • 567 Ratings

🗓️ 11 September 2023

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla, Jim Cramer and David Faber reacted to market-moving news out of the tech sector: Tesla was named a "top pick" by Morgan Stanley analyst Adam Jonas, who upgraded the stock to "Overweight" and hiked his price target to $400 from $250. Jonas said he believed Tesla's "Dojo" supercomputer will unlock the company's "AI mojo." Qualcomm shares jumped on news of its deal to supply Apple with 5G chips until 2026. In San Francisco, Cramer discussed what he's expecting from Salesforce's "Dreamforce" conference beginning Tuesday. The anchors also explored what will be a busy week of developments for the markets to digest -- including key inflation data, Apple's expected iPhone 15 launch and a potential UAW strike against Detroit automakers. The NYSE and Nasdaq each observed a moment of silence, honoring the victims of 9/11 on the 22nd anniversary of the terror attacks Squawk on the Street Disclaimer

Transcript

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0:00.0	Market Moving Insight and Analysis joined Jim Kramer, David Faber, and me, Carl Kintania, on the opening bell hour of CNBC Squawk on the Street.
0:08.0	Good Monday morning, welcome to Squawk on the Street. I'm Carl Kingtonia with David Faber post-9 of the New York Stock Exchange.
0:13.0	Kramer is at one market in San Francisco, ahead of Dream Force, which gets underway tomorrow.
0:19.0	Futures kicking off Monday with some green
0:21.0	on the back of this Tesla upgrade,
0:22.4	which will get to a very busy week
0:24.4	between Dreamforce, Apple's events, CPI, ECB,
0:27.8	some conferences and the UAW contract expiration.
0:31.0	Our roadmap begins with this massive week ahead
0:32.8	for investors.
0:33.7	A lot of economic data, that looming auto strike threat
0:36.2	to tech IPOs making headlines.
0:38.3	Plus, Morgan Stanley, as Carl just mentioned, upgrades Tesla.
0:41.4	Analyst Adam Jonas predicts a 60% rally largely fueled by AI.
0:47.7	We're also keeping an eye on shares of Qualcomm.
0:49.3	They're up ahead of the open.
0:50.3	Chip companies saying it will supply Apple smartphones through 2026.
0:55.8	Let's begin, though, with Jim and San Francisco, as we said,
0:59.0	gearing up for Dreamforce, Jim, going to be a busy week?
1:03.1	Yeah, but you know, it's really crazy is that there's Adam Jones,
1:05.8	just stealing the whole show.
1:07.3	We've got, there's conferences in Washington, there's conferences in San Francisco, and he makes it so it's about Tesla. All I can tell you is that out here, it's just
	...

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