The Bull Case for Microsoft, Apple CEO Tim Cook Speaks at Global Privacy Summit & Bolt CEO Maju Kuruvilla on $1.5B Acquisition 4/12/22

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 12 April 2022

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors start today’s show with Kindred Ventures Managing Partner Kanyi Maqubela offering his perspective on the tech sector and Elon Musk deciding against joining Twitter’s board of directors. Then, Evercore ISI analyst Kirk Materne shares his bullish outlook for Microsoft, and Wall Street Journal markets reporter Gunjan Banerji discusses investor confusion surrounding the current market volatility. Next, CNBC’s Steve Kovach reports on Apple CEO Tim Cook’s comments at the IAPP Global Privacy Summit in Washington, D.C., and our Julia Boorstin breaks down three bearish calls on Netflix this morning. Later, fintech check-out company Bolt CEO Maju Kuruvilla joins after announcing plans to acquire crypto infrastructure provider Wyre for $1.5 billion.

Transcript

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0:00.0	I'm Carl Kintania. You're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern. Listen in.
0:10.9	Good Tuesday morning. Welcome to Tech Check. I'm Deirdrebozo with John Fort and Carl Kintania. Today,
0:17.7	UBS upgrades tech after valuations crater to start the year. P-Firms
0:21.8	have been buyers should U-be-as-well. Then Microsoft Bulls, Beware, Bear Calls on MSFT, Netflix, and
0:28.7	Cisco. We will discuss all three of those. And later, Tim Cook's fighting words, the latest in the
0:33.5	Elon Musk, Twitter saga, and adding context to Warren Buffett's bet on PCs, John.
0:39.1	Yeah, but that UBS upgrade of the tech sector is where we're going to start our feed this morning.
0:44.4	They're bullish on IT and software spending in the second half of the year.
0:47.6	After a brutal period of valuations for tech stocks that led to PE firms taking advantage,
0:53.8	New Bank of America data shows investors are
0:56.1	already following suit pivoting back into the tech trade. So is this the time to get back in? Carl,
1:03.9	this note from UBS, interesting in that it really focuses on software quite a bit saying software out underperformed the s mp 500 index by 10% over the last six months
1:18.6	and you know ubs believes software can outperform going forward because of sales growth more than anything else, they're looking at a lot of things we've
1:30.1	talked about over the last year, labor issues D, supporting productivity, related IT spending,
1:36.3	and also assuming that rates consolidate in line with their baseline, that is going to be the
1:42.1	bigger, if maybe. Yeah, you've got to be really selected,
1:44.8	too, right? We just heard from Jeffrey Gunlach repeating that call that the NASDAQ is going to
1:48.8	underperform and just the amount of volatility we've seen this year. More than $1 trillion from the
1:53.7	NASDAQ 100 disappear from peak to trough every single month this year. Certainly, John and Carl,
2:00.1	earnings is going to be key and that that revs
2:02.4	up this week with the big tech companies coming over the next few weeks. Yeah. Let's talk about this
2:07.4	with our friend Kanye Macabella, founding partner of Kindred Ventures. Kanye, good to have you back.
	...

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