Title: AppLovin Proposes Merger with Unity, President Biden Signs the CHIPS Act & 23andMe CEO Anne Wojcicki on Results 8/9/22

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 9 August 2022

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors begin today’s show covering app development platform AppLovin’s proposal to acquire video game software company Unity, with insight from CNBC’s David Faber and Plexo Capital Founding Managing Partner Lo Toney. Then, Bank of America analyst Vivek Arya breaks down what President Biden signing the CHIPS Act means for semiconductor makers, and CNBC’s Dom Chu offers a deep dive into some big meme trade movers. Next, 23andMe CEO Anne Wojcicki joins on the heels of the biotech company’s latest results, and Evercore ISI Head of Technical Analysis Rich Ross offers his bull case for software and semis. Later, our Julia Boorstin shares a new profile on Paris Hilton’s push into the metaverse, and CNBC’s Kate Rooney previews crypto exchange Coinbase’s earnings after the bell. 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 John Fort. You're listening to CNVC's TechChack. Our show is live weekdays at 11 a.m. Eastern. Listen in.
0:07.6	Happy Tuesday. Welcome to Tech Check. I'm John Ford, Dio Jibosa. Carl is off. Today, more MNA, maybe bigger MNA and software.
0:15.5	App Lovin goes Lovin with a public deal for Unity, throwing a wrench in Unity's plan to buy iron
0:22.7	source, perhaps, sharp moves in the stocks and what it means for the ecosystems and tech
0:27.2	valuations broadly.
0:29.0	Plus, speaking of valuations, Micron warns of weakness ahead.
0:33.3	More demand problems just a day after Nvidia warned revenue would fall short of estimates.
0:39.1	What that says about the Korean environment.
0:44.0	And then volatility returns to the mean trade, breakdown of names with high short interest and flying stock prices, including the CEO 23 and me on the heels of those results.
0:50.4	Well, John, we are going to start with the deal of the day.
0:53.1	It is right up our Tech Tech Alley. Apploven announcing a proposal to merge with Unity in an all-stock deal valuing Unity at $20 billion.
1:00.0	There are nearly $59 a share.
1:02.0	John Fort, I was out yesterday, but I was watching.
1:05.0	You said App Loven might be in the market for consolidation.
1:09.0	Have a listen. The type of company I've got my eye on,
1:14.1	App Lovin, it's up more than 10% today, $15 billion market cap roughly. It's down about 57%
1:22.3	year to date. And you might not tend to think of this as a fintech play, but in a way it is because these app ecosystems and how smaller businesses and developers balance between advertising and, you know, discovery appearing in app stores.
1:36.2	Those are financial issues. And perhaps investors can think more broadly about the types of companies that are available out there.
1:44.8	I mean, it's also worth noting Iron Source is looking to be taken out by Unity with some help
1:50.7	from what was it?
1:54.5	It's slip in my mind, but private equity is helping out there too.
1:57.6	Silver Lake.
	...

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