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Good Tuesday morning. Welcome to Tech Check. I'm Dear Draboza at One Market in San Francisco,

along with Julia Borson in L.A. Carl and John have the morning off.

Today a look at Walmart's transformation into a tech company while they are pushing into streaming despite a strong consumer as advertising and e-commerce revenues gain, plus hedge funds hopping back on the tech bandwagon. Look at how Berkshire's big paramount bet. As Buffett scoops up even more shares of Apple, that stock is now just inches from all-time highs. Here to help us break it all down.

Like so, Capitals, Lowe Tony, joining me here at One Market as guest hosts this hour. Welcome, Lowe.

It's great to have you. Let's dive right into Walmart after a surprisingly strong quarter for the retailer.

Courtney Reagan joins us with more after speaking to CEO Doug McMillan last hour.

Courtney has a great interview. Oh, thank you very much, Dee. Appreciate it. Yeah, we are here

in Walmart's hometown of Bentonville, Arkansas, and the retailer did beat expectations for adjusted

profit and revenue. Of course, those were lowered expectations after issuing a warning just a couple

weeks ago. The CEO, Doug McMillan, did tell me that inflation is putting pressure on the

American consumer. And Walmart did confirm that it's adding paramount plus as that streaming

benefit for Walmart plus members. That's going to happen in September. And I asked of

McMillan if it had to do this, to add this streaming content option to attract or retain those Walmart press members. And he said, look, it was always part of the plan. Even two years in, though, Walmart really hasn't given much detail about Walmart. Plus, we don't know how many members it has though consumer intelligence research partners

estimates it's plateauing around 11 million. McMillan said the company just doesn't emphasize

the program because it doesn't want to be measured by just one metric. Now Walmart's highly

profitable, albeit small and growing advertising business did see sales grow 30% year over year this quarter.

I asked Macmillan then, does this mean that he's not seeing the same slowdown in advertising

spending that other big tech online players are seeing?

And he said, look, this is just a very small business, it's underdeveloped, and we have

a unique proposition.

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