Tesla Misses Q2 Vehicle Delivery Estimates, A Look at Andy Jassy’s First Year as Amazon CEO & Breaking Down Micron’s Earnings and Guidance 7/5/22

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CNBC

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4.5 • 66 Ratings

🗓️ 5 July 2022

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors begin today’s show looking at Tesla missing the Street’s consensus for Q2 vehicle deliveries, with insight from CNBC’s Phil LeBeau and Threadneedle Ventures Founder and Managing Partner Ann Berry. Then, Morgan Stanley analyst Erik Woodring shares his thoughts on Apple amid the current macro environment, and Madrona Venture Group Managing Partner Matt McIlwain joins with his perspective on what to expect from Amazon CEO Andy Jassy’s second year on the job. Next, CNBC’s Mike Santoli looks at the Nasdaq pricing in negative investor sentiment, and former VMware COO Sanjay Poonen offers his perspective on what to expect from tech trading in the second half of 2022. Later, our team breaks down chipmaker Micron posting earnings and disappointing guidance amid a volatile year for semiconductor stocks. 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 Carl Kintanilla. You're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern.
0:05.9	Listen in.
0:09.2	Good Tuesday morning. Look at a Tech Check. I'm Carl Kintania with John Ford and Dear Durbosa.
0:13.3	Today, stocks fall yet again on the heels of the worst first half performance since 1970 and then
0:18.8	another down week last week. And yet, as Sarah just said,
0:22.6	the NASDAQ outperforming today will talk growth versus the larger market. Within that,
0:26.7	Tesla disappoints over the weekend. The company's win streak of record deliveries comes to an end
0:31.3	after China lockdowns weighed on numbers in April and May. It is a theme of supply chain slowdowns,
0:36.8	and we'll talk about that with Apple and
0:38.3	Amazon today. And speaking of Amazon, Andy Jassy, marking a year as CEO. We're going to break
0:43.0	down his leadership and the outlook for the company and the stock D. Hard to believe it has
0:48.8	already been a year. It's already been a year. We're going to kick off today's feed with Tesla
0:53.7	and what may become the theme of this quarter, supply chain difficulties, and consumer spending uncertainty, those disappointing delivery numbers, sending Tesla shares lower this morning and ending in nearly two-year streak of record deliveries.
1:05.3	Phil Aboe joins us with that.
1:07.9	Phil, I'm a little surprised.
1:09.7	I was more focused on that blockbuster June number,
1:12.9	strongest production month in the company's history. I thought the street might be focused more
1:16.6	on that also. Well, I think the street is focused on that, dear Joe, but you have to also take it in
1:22.2	totality in terms of, look, Q2, we knew the challenges in China. As you take a look at these numbers, keep in mind
1:28.6	that this is a company that most thought were going to deliver between 600 or 256 and 261,000
1:34.7	vehicles delivering just over 254,000 vehicles. But it was the highest production rate ever
1:40.7	in June, monthly production rate in June. So clearly you see the momentum building
	...

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