Tracking Today’s Sell-Off, Breyer Capital Founder Jim Breyer on the Market & Kara Swisher Live From the Code Conference

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 28 September 2021

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors kick off the show with today’s market sell-off live from the Code Conference in Los Angeles. Then, Breyer Capital Founder and CEO Jim Breyer joins to give his take on the sell-off, semiconductors, Facebook and much more. Next, we bring in New York Times Contributor and “Sway” podcast host Kara Swisher to break down some of Code’s most notable moments, including comments from Microsoft CEO Satya Nadella and Netflix Co-CEO Ted Sarandos. We also have CNBC’s Josh Lipton for a closer look at what’s moving on the Nasdaq today. Then, we hear from Qualcomm CEO Cristiano Amon, NBA Hall of Famer Earvin “Magic” Johnson and Loop Capital CEO Jim Reynolds as Qualcomm kicks off its third annual Smart Cities Accelerate Event. Plus, CNBC’s Dom Chu joins for more on today’s dive to the downside. 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. Welcome to Tech Check. I'm Carl Kintanio with Julia Borsden and John Fort. We are live here at the Code Conference in Los Angeles. John is in San Diego today at Qualcomm headquarters. A huge lineup ahead, but clearly we are watching the
0:38.8	market today. Yields hitting levels we have not seen in months, causing tech stocks to slide
0:44.2	dramatically this morning. Worst day for the NASDAQ since about May 12. Semis the biggest loser at
0:49.7	the moment on pace for a third straight down day. You'll hear from both AMD CEO Lisa Sue and Qualcomm's
0:56.4	Christiana Amon this hour talking about the chip supply chain. Fang continues to suffer in September
1:02.5	as well. The CEOs of Microsoft and Netflix were on stage here at Code last night. We'll show you
1:07.6	that in a moment. Plus crypto and the SPAC stock trade, like Kathy Wood's
1:12.8	Arc Index, also getting crushed. A brutal day for tech as the sector leads all stocks
1:18.3	to the downside. Interesting, being led really by macro issues all around the world, Julia.
1:22.8	Absolutely, but it was really interesting hearing from the folks here at Code, AMD CEO Lisa Sue saying that she does
1:28.9	believe the global chip shortage will become less severe in the second half of 22. So I think a lot of
1:34.7	sort of conversations here, what is the trajectory going to be over the next year and a half? And also,
1:39.9	a lot of conversation here about competition. You heard each of the CEOs on stage last night
1:44.8	takes subtle digs at their rivals. And I think there are some questions about what this next
1:49.4	leg of growth is going to be like. Obviously, all of these tech players really benefited from
1:53.7	some of the trends of the pandemic. But going forward, it might not be a rising tide lifts all
1:59.2	boats. They might be more at odds with each other
2:02.1	and really fighting over market share john those some of those trends are leading to huge
2:06.2	swings in demand which is exactly what you got to with lisa sue last night
2:11.8	that's right carlin it all fits in uh with what jennett yellen of the treasury secretary
2:16.7	was just talking about,
2:18.5	fielding some of those questions about the broader economy and U.S.-China competition.
	...

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