The Bull Case for Netflix, What to Expect from the Metaverse in 2023 & Top Fintech Picks for Next Year 12/29/22

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 29 December 2022

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors begin today’s show with Mark Asset Management CEO and Managing Partner Morris Mark explaining why Netflix and Disney are his top picks for 2023. Then, CNBC’s Steve Kovach covers what to expect from the metaverse next year, and Former Ford CEO Mark Fields discusses the broader market for electric vehicle sales. Next, we take a deep dive into the fintech space with CNBC’s Hugh Son and D.A. Davidson Managing Director Chris Brendler, and CNBC’s Yasmin Khorram reports on rising commercial real estate vacancies in San Francisco. Later, CNBC’s Frank Holland covers growing trends across the cybersecurity sector. 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. Listen in.
0:06.9	Good Thursday morning. Welcome to Tech Check. I'm Deirdreboza with Julia Borson and Frank Hall. And Carl and John are still off.
0:12.9	Today we are discussing the tech reckoning. Streamers are shifting their focus amid recession concerns.
0:18.2	We'll cover the stocks set to benefit. Plus, Tesla continues to be a
0:21.5	battleground stock down almost 40% for just the month of December, but it is rebounding strongly
0:27.3	today. So is the time to buy the dip. Plus, we have exclusive CNBC data on the fintech sector,
0:33.0	pointing to more volatility in the new year. We will discuss how to play it. And is there more cybersecurity
0:38.4	opportunity ahead? We have the 2023 sector playbook, Julia, as the NASDAQ is off to a very strong
0:45.0	start to the session. That's right, Dee. We're going to start today's feed with streaming.
0:49.4	2020 has been a rough year for the media and streaming giants, and now there is growing concern about
0:54.8	the impact of a recession. Now, year-to-date, Netflix shares are down about 55 percent. Disney and
0:59.9	Paramount, both about 45 percent, while Comcast shares are down over 30 percent. Now, this, despite
1:06.3	a rebound that you see there in those Netflix shares over the last six months. Actually, in the last six
1:11.2	months, Netflix led the thing. Now, going into 2023, there's a focus on average revenue per user
1:18.2	among these streaming services and profitability. That has replaced a chase for subscriber gains
1:24.2	with ballooning content spent. Some big fears on the horizon.
1:28.3	Morgan Stanley warns that streaming growth is slowing.
1:32.3	Forecasting 2023 industry net editions will be at roughly half the 2021 pace,
1:39.3	projecting consolidation of companies and services and also cost rationalization.
1:45.1	Nita mourns that Netflix's peak subscribers may be behind it because churn is rising for all
1:51.3	streaming platforms. So media companies are hoping to stem that churn with lower cost
1:56.2	ad-supported options like those that Netflix and Disney Plus recently launched or with free ad-supported
	...

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