What to Expect from Apple’s WWDC, Affirm CEO Max Levchin on Buy-Now-Pay-Later Outlook & Big Tech Reacts to Potential Federal Privacy Bill

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 6 June 2022

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors start today’s show with Satori Fund Founder Dan Niles offering his outlook for the markets, and CNBC’s Steve Kovach joins Wall Street Journal Senior Personal Technology Columnist Joanna Stern to share their expectations for Apple’s annual Worldwide Developers Conference. Next, our Julia Boorstin reports on the latest in the Elon Musk-Twitter saga, and Affirm Founder and CEO Max Levchin shares his thoughts on the headwinds facing the buy-now-pay-later space. Later, CNBC’s Kate Rooney breaks down software firm MicroStrategy’s attempts to become a Bitcoin company, and CNBC’s Ylan Mui covers big tech’s reaction to a new bipartisan bill that could create a federal framework for data collection and privacy. 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 Dear Jrabosa and you're listening to CNBC's Tech Check.
0:03.5	Our show is live weekdays at 11 a.m. Eastern. Listen in.
0:09.8	Monday, welcome to Tech Check. I'm John, Port with Diajoba. Call is off.
0:13.7	Today, as major indices rally, NASDAG up nearly 2%. Apple's worldwide developer conference
0:19.0	from the next steps with its M-Series chip to augmented reality software ahead of a possible headset.
0:24.5	We will look at implications for Apple stock and more. Apple up about 2% this morning.
0:30.1	Then Elon Musk shaking things up with the pending Twitter deal.
0:33.1	What he said this morning about the deal, that's tanking the stock.
0:36.7	And later, buy now, pain later.
0:38.8	Affirm CEO Max Lefchin, Joe, he goes the show to talk weak stock performance despite a pretty
0:42.8	solid quarter facing higher rates.
0:45.3	John, we're going to start with the market. The NASDAQ is rallying this morning. It is now
0:49.2	in positive territory over the past month as well. But our next guest is still feeling bearish on the market,
0:55.1	expecting the U.S. to enter a recession in 2023. So how should you protect your portfolio?
0:59.8	Joining us now, Satari Fund founder, Dan Niles, Dan, good morning. It's great to have you. The S&P,
1:05.0	it's an update. The S&P is off about 13, 14% from its peak. That is nothing compared to where
1:10.6	you think it will go.
1:12.5	You're anticipating 30 to 50% sell-off from peak to trough next year.
1:17.8	What gets it there?
1:18.5	Is that Fed fundamentals, both?
1:21.8	It's really both.
1:23.0	So our rallying cry for this year is don't fight the Fed.
	...

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