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TechCheck

What is a Tech Stock?, High-Profile Names Set to Miss CES & Triller CEO Mahi de Silva’s Plans to Go Public

TechCheck

CNBC

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

4.566 Ratings

🗓️ 22 December 2021

⏱️ 44 minutes

🧾️ Download transcript

Summary

Our anchors kick off today’s show with a trio of bullish calls on Amazon. Then, Credit Suisse Chief Equity Strategist and Head of Quantitative Research Jonathan Golub joins to take a deep dive into what defines a tech stock. Next, our Julia Boorstin covers a string of high-profile names missing CES this year amid Covid concerns. She also premieres day two of her three-part series on the metaverse. Then, Needham analyst Bernie McTernan joins to discuss ways companies are monetizing the metaverse. Next, video app Triller’s CEO Mahi de Silva joins as his company announces plans to go public through a reverse merger that is expected to value the company at $5 billion. Plus, we bring in Bank of America analyst Craig Siegenthaler for insight into his bearish outlook on Robinhood. And later, CNBC’s Kate Rooney takes a look at recent tweets from Elon Musk and Jack Dorsey, highlighting their comments on Web3 and venture capital.

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 Check. I'm Carl Kintanilla with John Fort and Julia Borsden. Today, three big calls on Amazon, top 22 pick, and they all have a different catalyst, plus the price hike for Apple and the

0:38.4

bear case for Robin Hood.

0:40.9

Then, meta, Twitter, Pinterest, and Amazon are the latest to pull out of CES, how tech

0:45.7

companies are approaching travel and the workplace amid rising COVID cases.

0:50.0

And as Musk and Dorsey continue to sound off on the Metaverse, we're going to dive into how investors might play some of the new ad opportunities there, John.

0:59.0

But we'll start with that trio of bullish calls on Amazon in all the different markets in which the company plays.

1:06.9

Boy, how do they love Amazon?

1:08.6

Let us count the ways Oppenheimer viewing it as a cloud play.

1:12.3

They favor Amazon over Microsoft, saying AWS is less stretched from evaluation perspective and writing the momentum from its reinvent conference.

1:21.1

UBS, looking at the retail side of things, analysts, right, that despite other e-commerce players grabbing market share, they believe

1:27.6

growth could re-accelerate to 20% in 2023. They call the stock a top pick right now, as does

1:34.1

Dana Telsey, who says consumer technology companies are likely to take a premium spot in the post-COVID-19

1:40.2

world. We should point out, basically, every analyst who covers the company has a buy,

1:45.3

not a single sell on the street, and just a couple of fringe holds, Julia. To me, I don't

1:50.7

know. If I were an investor in individual stocks, which, of course, as a CNBC journalist,

1:56.0

I am not. That might make me a little uncomfortable that there's so much bullishness.

2:00.8

You know, when there's a market and there's too many buyers and not enough sellers, I don't know.

2:06.3

Yeah, everyone jumping on that bandwagon.

2:08.1

One thing I thought was so interesting reading all these different notes is there are so many different places that Amazon has strength.

2:14.6

So many different markets where Amazon is dominant, whether you're

2:17.9

looking at e-commerce or the strength of AWS. And Carl, I wonder, is no one talking about

2:23.7

antitrust risk to Amazon anymore? You know, there was a period where when we were talking about

...

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