Tracking Facebook’s Fallout, What to Expect from Apple’s “Unleashed” Event & Bakkt CEO on Going Public via SPAC

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 18 October 2021

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors start off the morning with the latest street calls on streaming companies Netflix and Disney. Then, Pacaso Co-Founder Spencer Rascoff joins to give his take on the latest headlines out of Facebook as we continue to track the company’s fallout. We also have The Wall Street Journal’s Joanna Stern on what to expect from Apple’s “Unleashed” event slated for later today. Plus, CNBC’s Mike Santoli is here to talk today’s tech movers. Also, Bakkt CEO Gavin Michael joins us live from the New York Stock Exchange as the digital asset platform makes its public debut via SPAC. Next, CNBC’s Julia Boorstin gives us more on Facebook as a second whistleblower testifies to UK Parliament today. And later, we cover a letter sent to Amazon CEO Andy Jassy by five members of Congress questioning whether Amazon executives misled them during a prior investigation. 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. Good Monday morning. Welcome to Tech Check. I'm Carl Kintania with John Fort and Dear Dribosa, who is back after the birth of her baby Roman. Dee, it's great to have you. Welcome back. Today on Tech Check, I got a downgrade for Disney. Barclays turns bearish on its long-term streaming outlook, and Netflix gets a boost the other way.
0:24.2	Then we're just about two hours away from Apple Unleashed.
0:26.9	Got a new MacBook Pro perhaps chip strategy, what that all means for Apple's long-term investment.
0:32.6	Later on, in exchange for crypto goes public as Bitcoin hits 62K.
0:36.9	We'll have the CEO of backed on that debut.
0:40.0	Dee, welcome back.
0:41.8	Bitcoin has gone places while I've been gone in the market as well, has had a bit of a slump.
0:46.4	Our feed, though, is going to start with streaming. And the streets, I guess you could call it
0:51.0	anxiety on Disney. Barclays downgrades the stock today over long-term streaming concerns. It's down nearly 3%. Slowing growth in Disney Plus, the chief catalyst there,
1:00.0	saying it may be tough to keep pace with Netflix, which, by the way, gets its own boost this morning,
1:05.5	UBS reiterating the buy, bumping the price target up to 720.
1:11.7	Julia's here with us to break that down as well.
1:14.1	And Julia, UBS really points to popular series, new hits as driving that subgrowth.
1:20.5	And, you know, Netflix still basking in the success of Squid Game.
1:24.3	And over the weekend, another series, you an existing one, topping the
1:28.3	charts. That's right. Well, welcome back, Deirdre, so great to have you back. And I think you really
1:35.4	nailed it. The question is content and subscriber growth. How do those things interplay? And I think
1:40.8	with Netflix, we saw with Squid Game that you could make content that's relatively
1:44.3	inexpensive that has a huge outsized impact on the subscriber base. The question, though,
1:50.7	is how much it's going to add new subscribers, particularly in the USDA, because here in the U.S.,
1:55.7	the market is so incredibly saturated. So even though there's broader optimism about Netflix's ability to grow
2:01.9	internationally, maybe even have pricing power, the question is how much the U.S. market has hit a
	...

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