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 Tuesday morning. Welcome to Tech Check. I'm Carl Keinteneer with Dear Drubosa and John Ford.

Today, high-growth tech stocks come up short. We're going to explain this week's weakness and the interest rate to hate for what have been favorite cloud and software names,

plus the opportunities on the other

side of that trade. Then is Zoom's 40 minutes of fame finally up? Investors stuck in the waiting

room as that stock stumbles again. Seven firms cut their target today. Later on, investors unplugged

from Best Buy as shares lose power. Is this stock actually your best buy today at these levels? We'll try to

get some answers on that this hour, John. Yeah, Carl, the NASDAQ down more than a percent for the

second day in a row, but let's start with a poster child of the sell-off in high, multiple, high-growth

stocks. And that is Zoom. Slowing growth, the story there again this morning. Shares now down more than 18%.

Earnings actually fine. Stock posting a beat on the top and bottom line, but investors are

worried about what's ahead post-pandemic. Revenue growth, of course, is slowing. Stock has been

cut in half. A little bit more than half of the past 12 months, Deirdre, looks like around

54%. But at the same time, it's still about double what it was before the pandemic began.

So we're kind of in that weird thing. It's doubled since the pandemic began, but it's half of what

it was at the peak of the hype, Dee. I wonder at what point is too far.

Yeah.

I mean, it has been an incredible story.

And you said it, John, earnings were actually fine.

But remember, this is a company that had revenue growth north of 300% as early as the first

quarter of this year.

I guess the question, Carl, is this really the platform bet that investors thought it was throughout the pandemic,

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