discussion. that is going to do it for us here on "squawk on the street." "techcheck" is going to start right now. good tuesday morning and welcome to "techcheck. i'm deirdre bosa with jon fortt and carl quintanilla today a $530 million bet against tesla. the man behind the big short says tesla will fall. then jeff bezos and james bond why amazon is reportedly interested in buying mgm and later, ethereum, even alan confusion on wall street bets in our laters trading jon? >> and retail in focus with walmart top gainer on the dow showing robust growth in online

sales and groceries. home depot lost that early momentum, now flattish in today's session. down about a half percent and macy's getting a boost surprise profit, it's outlook, a catalyst there carl >> jon, start with tesla, though and famed investors michael gory famously portrayed in "the big short," a short on tesla citing reliance on regulatory credits to generate profits as an impediment previously on the right side of the trade as well. tesla down 17%, 18%. the whole ev stock under pressure, the new company canoe under an fcc investigation we don't know a lot of the structure of the put strategy here and know how treacherous to bet against tesla, at least in the long term, absent various

windows where selling did come in >> bernie might himself know that first talking shorting tesla back in december and talking down the whole speculative environment in stocks since the fall granted, speculation has been a story for the early part of 2021 so that has continued to run, despite what has been said now tesla is back down to levels it was in december when he first started talking about shorting it maybe he sees advantage in upping that up now deirdre, seems risky i mean, it's not like tesla trades on car fundamentals anyway we see elon musk's power, at least at the moment to move all kinds of securities. i mean, moving bitcoin, which is moving coinbase. moving dogecoin. i don't know >> very busy man he's very busy calling michael burry the big short guy, better known to millennials as the guy who made

a killing out of that gme trade. interesting to me, burry has become a reddit favorite favette among wall street bets for the gamestop bet, but so was elon musk. self-proclaimed meme lord. i wonder how much damage done with the bitcoin comments to that group so it will be interesting, carl, to see what happens when these two worlds collide if they collide. we don't know the timing of this bet, and what the details of it are. but peeking in the reddit threads and saw one user say, oh, musk -- burry, excuse me, probably made a bet for the short term maybe getting out. saying that he is not exactly a diamond in the hand. doesn't get too greedy knows when to cash out. >> yeah. at the very least, even elon, de, might agree that things will get more competitive, not less, in the comes days. ford rolling out the lightning

f-150 today and tomorrow we know what's coming up in china as they bolster local players. at the very least you can say the space will heat up and get to be tougher sledding perhaps for tesla. we'll see. >> yep let's pose this to our first guest this hour. a tesla shareholder and chief investment officer of a defined etf. sylvia, good morning to you. you say you're an investor particularly at these levels's what do you think michael burry might be getting wrong >> good morning. thanks for having me i think if i look at tesla the reason i'm an investor, a little explanation. last year a great year to be a tesla trader just as it was a lot of the high-growth stocks. now a lot of those names have pulled back below think 200-day moving average, and for me that's a great opportunity to buy. so i can understand if mr. burry is looking for a short-term gain on, you know, the price action

on the downward, in the near term, but i think in the long term you want to be a buyer here, because the story of tesla is great they're involved in energy they're involved in battery production they're so far ahead of everyone else not building their business on selling credit that was one of the things that bolstered profits this year. yes, that will fade out. as it does, a massive growth of, expected to be 70% in battery, trek lick vehicles this year is really going to balance that, i think, and lead tesla in the right direction the next three to five years. >> sylvia, in the near term, one year out, how much of the short case against tesla rests on the macro environment? also betting on a surge in inflation this year. >> yeah. i think inflation and fears about the ten year are just again hitting high growth stocks a pull baback of ev names therea tesla, model s and x, battery

seams, some delayed that that will impact short-term st stock. so much is going on that benefits the stock you mentioned president biden visiting the ford plant. $174 billion goes to either consumer credits or the companies themselves that essentially develop these ev vehicles that's a massive investment. a push towards global carbon neutral. that's going on in europe and china. china and europe are 60% of ev sales. we have to catch up. i think even if more competition or short-term delays the long-term story favors tesla within a year, maybe in the next couple of months or so there's volatility in the stock but i'm holding it for the long term. >> that's what i mean. i don't think folks like burry are in this for years, or in much of anything for years necessarily. trading and placing bets would it shock you if tess wil

dropped, sylvia, along with the crypto and meme trade? not just volatility but perhaps for months at a time >> i wouldn't expect that to happen for a month at the time, because i think a lot of the infrastructure spending is going to come quickly and a lot of the advancement in sort of the work on the semiconnector side to pump out, you know, some of the chips and things to get these companies going again will happen within months for the next month or two, do we, could we expect volatility and prices to pull back more sure i wouldn't expect them to sit in that trade a long time you mentioned in your intro. betting against elon musk the last three years, a really bad idea. >> finally, it's interesting you look at a chart of tesla over the past couple of weeks, and a chart of bitcoin looks like a tracking stock. i wonder if you think that was musk's intent, or if maybe he has opened the bottle here maybe he wants to put back in a little bit? >> if i had to guess, might be a

bottle he might want to put back in a little. i don't love the correlation of the two. i think they're two completely separate creatures tesla saying they will accept it as payment boosted the price up, and now coming back and backtracking on that is really what sort of is shooting cryptocurrencies down, specifically bitcoin down. i don't love that marriage between the two and personally hope it goes away, but i'm bullish on both asset classes, heavily invested in both eiassed macro back drop of regulatory and lowcarbon emissions and growth of ev >> yeah. maybe we have to look at tesla and dogecoin together in the future sylvia, thank you. >> thank you. speaking of tesla's relationship to crypto, bitcoin bouncing back a bit this morning.

now lower again closing in on 43k. dominic chu look the at what we need to know what levels need to hold >> levels that need to hold from moves for chart watchers broken. trying to find a reason why these bitcoin prices should stay where they are'sagain, it's trading correlations carl, you mentioned it relationships between, say, tesla and bitcoin, and ev, ark innovation etf many of these trades are coming together with tighter trading kind of relationships. certainly something to watch you mentioned the bitcoin prices now just a little above $43,6, down a percent or so up 367% off the last year. moves down, roughly 33% during that time span by some measures has a lot of folks in focus. drifted now below the 50-day average price and 100-day average day price as well. the problem, moving average, significantly below where we

are. unless the levels hold, possibly there are pockets of air in trading beneath ta could be violated again, bitcoin bulls trying to do their best to hold some of these levels with regard to the carryover effect some trading relationships carl mentioned. look at one of the stocks that has been talked about by many traders as being timed with the move lower in bitcoin. coinbase global, biggest u.s. based exchange operator up about a quarter percent since going public, though, about flat remember, the reference price for its direct listing was $250 per share. we are now just slightly beneath it remember, at the highs, worth north of $100 billion in market cap. currently worth closer to around $52 billion at current levels. watch coinbase global subtraders citing their direct listing timed just around where bitcoin hit highest levels other parts of ecosystem, jon, deirdre, carl, to your point

tesla, micro strategy. other names like riot blockchain that have been very closely tied because some of these companies hold bitcoin on balance sheets on a year-to-date basis. tesla, microstrategy and blockchain, still outperforming but trading closely to bitcoin prices keep an eye on tesla, microstrategy, riot blockchain and others out there, jon, as indicators for what could happen with regard to some of these price move mntsds. >> dom, i'm not chart master i told myself i wouldn't pay attention to bitcoin falling until it got around 43,000, because it looked like a level to sort of bounce off of before. i wonder if people talk about that at all? and are you hearing talk when most people got into bitcoin in this latest surge, and, therefore, psychologically people will feel at a certain price level that they broke even maybe now time to get out? or in the red? >> so the trading volumes did

elevate heading towards the highs. that typically does happen when people start to chase performance. the issue, whether or not that sentiment shifted. if you believe -- first of all, there are many folks out there who still are struggling to find a fundamental way of valuing where bitcoin should be. until then, many of the technician, traders out there who follow charts, patterns, that sort of thing, statistics about when things should happen. they are driving a lot of the trading in bitcoin and other cryptocurrencies now as well when you talk to some of the crypto traders out there, it is about whether or not they can find reasons that certain mathematic levels, to want to be in there, because in the absence of any real long-term fundamentals to value bitcoin or others cryptocurrencies, levels are key. many technicians andyour point sentiment side of things if you're under water in these things it tests whether or not

your risk management parameters really are actually disciplined. are you putting enough into this at times when it's slow? do you feel as though your position is too big that the losses you sustained possibly are more than you can stomach? all of these things are what traders are doing to refine their process and so bitcoin now at these levels certainly with the fall we've seen are testing those protocols and procedures and disciplines for many of the crypto traders out there. >> hmm another. are your hands literally made of diamonds >> mine are not. >> how they behave dom, thanks. >> you got it. why several notable fund managers are trimming their positions in big tech. that's next. plus, who's really winning the ecommerce battle between am sonde and walmart? big hour of "techcheck" just getting started.

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let's talk edecomecommerce. walmart sales higher coming through the pandemic, setting off a big debate in ecommerce stock. was the pandemic a transformational event map of acceleration of a trend or just a blip venture partner at new enterprise associates joins now with perhaps an answer ben, i'm leaning towards a transformational event looking at some results this morning omni channel for one home depot seeing 27% rise in ecommerce, but 55% picked up in-store then walmart able to grow its business in mexico internationally 166% expanding into advertising, and into mobile and broadband

seems like momentum is here? >> i mean, even macy's had a 34% increase in their ecommerce business you know, i would argue that this is, you know, what we've seen, a truly once in a lifetime event where you pulled forward ten years of demand and adoption to online from folks that had been resistant if covid killed anything, it was the death of all laggards. nobody is left business or consumer that has not adopted a digital lifestyle and that's going to stick. i don't think growth rates continue you can't bring ten years of demand forward in a year because everybody's trapped at home and expect the next year to be the same you're seeing it in, companies like threadup. wall street not interested but they took inventory turn times from 24 down to 8. you had to wait a really long time to get things processed people are getting through

things they need to get done, and not that it will return to normal entirely but a new normal at elevated levels of online consumption of everything. and not another wow year of pull forward of growth. >> might there be different wows i ask that based off of those two numbers that i stated off the top. number one is margins. walmart saying that, you know, now people aren't just stocking up on toilet paper and grocery they're buying more other things, and that's improved gross margin then this idea of international expansion, and having, perhaps, a bigger basket to sell people on the back of ecommerce walmart was talking about that as well. could it be that some of these players who might not even be pure play have extra opportunity in profit? >> absolutely. i mean, we've been seeing a flattening of the globe for deb

ka dec decades. if you're a flat earther, you can point to the way the world works. flat, flat, flat, flat, flat doesn't matter where you are in the world. we're doing construction here. watching home depot, no surprise i assume they would both crush during depot, there were lines still crowded because everybody trapped at home is noticing all of the things they need to do. once you notice it once, you fix that, everything else looks a little less. you have to fix that, too. my point, though, was, i went shopping at al you b alibaba fencing's not easy to find but you can get it at al ibaba. and crosswords, complex, but material cost of shipping's some supply channel logistics issues challenging retailers will also challenge the cross-border shipping and everything that will make that in business as people expand -- yeah doing things electronically.

i started one of the first ecommerce site back in '93 a big pitch to retailers, helps you don't pidentify where it's strongest. an entire year to shift physical, identified hot spots, allows walmart and others to figure where to expand and invest hard dollars into those communities. in a digital space. >> a great point you mentioned macy's where delivery expense is still an issue. loyalty members, active customers down in the mid-teens. the street's wrestling whether or not this growth spurt out of the pandemic is erasing existential questions about department stores pre-pandemic has it >> i was actually a little surprised to see macy many do as well as they did look, one of my only jobs other than being an entrepreneur in high school work at macy's i have a lot affection for that brand. a one-day sale every day in many ways a detriment the

entire commerce experience so i think a more interesting point, walmart's recent announcement discontinuing very expensive high electronic towers used for delivery and going straight curb side curb side and other versions of omni channel that mix online and off-line, buy it online pick it up at store is something people have been trumpeting out for years. now it's actually working. i do think what you'll see a true growth's omni channel retail working look, when amazon bought whole foods one of the first things you could do amazon-like other than prime discount buying groceries, walk in and drop off your returns yesterday idropped off a retur of some random piece of electronics at the front desk of whole foods. wow, that's easy amazon has driven the bar up for every retailer if you're not willing to be just phenomenal at what you do you're just not going to survive. just a fierce, fierce competitor

and do it with customer centric reality. >> seems like some of those retailers able to clear that bar. despite how high it is ben anderson, thank you, nea. >> thank you. meanwhile, big named fund managers are turning positions in big tech. especially alphabet. lesley picker xplexplains folks told us this is where value is when you see momentum names sell off >> reporter: it is an interesting phenomenon from bigging through the 13f filings first quarter. big name investors scaling back on big tech during the quarter and taking new positions in mid-cap tech and this one third point reduced stakes in alphabet, amazon and facebook during the quarter and revealed a new stake in, you'll like this, uber, worth $368 million at quarter end viking global another one sold shares of microsoft, alphabet and amazon but took stakes in

several ipos including bumble and affirm appaloosa the david tepper selling down amazon, alphabet and facebook melvin capital followed a similar trend pairing back holdings in alphabet and facebook while dissolving a stake in microsoft however, the firm upped its stake in amazon by nearly ly 47% not all fund managers turned altogether and this one nearly quadrupled exposure to alphabet and upped facebook in combined value almost $1 billion in those two names. didn't interestingly see as many sales in shares of apple, including berkshire hathaway held steady with $100 billion plus stake people looking to see if he took money off the table. somewhat surprising, though, considering apple was a big tech laggard during the first quarter. now, these positions are as of the end of march they may have changed in the six

weeks since. people are starting to say this is where you can find value. and big tech has seen a decent boost since the end of march jon? >> lesley, thank you. and ethereum or ethan allen? the latest trading boom on wall street is next. plus, watch fisker shares falling. less than analysts expectations. no revenue to speak of, of course yesterday founder and ceo henry fisker told "closing bell" the company doesn't plan to invest in bitcoin saying it's not sustainable. "techcheck" is back in two.

welcome back to "techcheck" on tuesday i'm carl quintanilla with deirdre bosa, jon fortt, julia boorstin is with us. a bit of a divergence in stocks. dow lost steam nasdaq up, though. more than erasing yesterday's losses tech and consumer discretionary at the top of the index and faang enjoying a day higher. at&t, though, cinching again a day after the deal was announced with warnermedia we discuss that in a moment.

first a fresh news update. >> and at this hour, home depot posting a big earnings feed by blowout sales. comps remained strong first two weeks of may home depot shares given up early gains, down on the day macy's meantime posting an even bigger comp sales growth number 62.5% also surprise profit the company says sales helped by government stimulus checks and americans heading outdoors as more people are vaccinated housing starts fell more than expected in april driven in part by surging prices for lumber and other materials and increasing labor shortages. business permits rose a bit more than forecasted. and big changes at jpmorgan chase. two top companies to succeed jeremy dimond, put in charge of the bank's consumer banking

division back to you. >> love to see female candidates thank you. and fallout from at&t's deal to merge its media business with discovery continues. at&t shares, though, they are down today down as much as 6%, and now they are down -- oh recovering a bit of those losses about 5% we see as we've talked about a renewed rush to lock up content libraries. now it is amazon in talks to buy one of the few independent studios available, mgm the streaming space gets a little tighter julia, fascinating deal. amazon doesn't make these kind of large acquisitions. the rumored price tag $9 billion, big for amazon given its track record. >> absolutely. what i know, my sources tell me that mgm and amazon have had talks. we do know that mgm has been on the block. open to the sale for a long time i've heard that mgm has been valued by other companies in the

$5 billion range, and now mgm is looking to get between $8 billion or $9 billion. a big boost. what's going on now, deirdre, a land grab for content. only so much independent content out there. only so many of these arms dealers, if you will, but if you have sony teaming up with netflix and these big mergers, there is a rush to figure where the content is coming from for a place like amazon, which really wants that content, de, to fuel they're amazon prime video and not just draw subscribers. also hold on to them. >> yeah. so surprising to me that amazon could potentially overpay for such a deal. talking about this earlier, may have to do with one key figure jeff blackburn who left the company and now is coming back too to manager all operations. been at amazon 20-plus years seen as a bezos deputy a real loss for the company. the fact he's now coming back, how much do you think that could play into a potential deal, give

him more he was a dealmaker, too. give him more to manage and oversee. at the same time, does he have the chops to manage such a large media operation? >> well, look. i think amazon prime video is already a very large media operation. they're making one of the most expensive tv shows ever made in "lord of the rings" tv production in the works now. talking over $300 m400 million. already massive. the appeal of mgm, a library over 4,000 films and the james bond franchise controls 50% of james bond an idea this could be a crown jewel and help bolster the library and also maybe have big franchise movies in there. in terms of jeff blackburn, i don't think it's a coincidence that he is returning just as these reports are coming out that these talks are heating up. as to whether or not amazon overpays we'll see what they end up paying if this deal indeed happens. but i think, deirdre, there's a

question of supply and demand. there are only so many of those studios out there and that, of course, could boost a price for mgm. blackburn must be interested in building and growing wa he oversees there at amazon, if he's returning after taking that hiatus for about a year. >> yeah. could mean a lot of changes at amazon, too. right? with andy jassy taking over later this year. and yesterday, julia, talked a lot about szaslav >> john is not the person we talked to or talk about as frequently but personally owns about 27% of discovery stock and of course, chairman of liberty has all of these different business interests sirius xm among them

when it comes to discovery, not his companies owns the company he has 27% stake in discovery and he's giving up his preferential voting shares as part of this deal. only one class of shares in the combined company very close with david zaslav a mentor in addition to sitting on discovery's board and sounds very much working with zaslav to figure out terms of this deal maybe not in the combined company but sure to be a voice on the board that is, that people are listening to, and just fascinating he's 80 years old and just does not stop doing these tax advantage deals. that's his signature. >> yeah. lots of energy some calling him the logan roy from succession in all this. julia, thank you now a surge for gamestop, and amc. confusion over ethan allen elon's ties to crypto. a strange few days inside wall street bets.

our kate rooney has an update on the latest trading boom. kate >> reporter: hey, jon. seeing a resurgence in chatter around movie theater chain amc and on social media, and a lot of bitcoiners still mad at elon musk according to data firm, amc, the most talked about stock on reddit this morning followed by gamestop, united whole sale mortgages and tesla. meanwhile, short sellers in gamestop and amc lost almost $1 billion from those positions over the last five trading days. that's according to analytics ferc ortex and michael burry, the big short, revealing his next big bet shorting tesla one of the top posts shared on wall street bets today seeing it all over the place and a lot of talk, guys, about musk picking favorites in crypto over the weekend, speculation tesla might sell its bitcoin holdings after a lot of criticism, musk was getting. he later clarified saying

they're not selling. crypto investors still blaming musk for the slide this week others talking about bitcoin losing its cool factor new nickname, boomer coin. this case of mistaken identity over to ethereum look at ethan allen, furniture company trading under eth and the same shorthand for the cryptocurrency ethereum. ethan allen stock mexed all over the place with the ticker. stock up 50% chris year so far and reddit users making light of the tech telloff tesla, palantir, up a little today, but meme said it all. tech stocks, if you will back to you guys. >> kate, fascinating thank you so much. inside apple's complicated relationship with china when we come back here after a break meantime, watch tech set, profit

and sales for the quarter thanks in growth to is a scribership and better ad revenue for the music streaming plat for stocks off today down about 20% year to date stay with us. what happens when we welcome change? we can transform our workforce overnight out of convenience, or necessity. we can explore uncharted waters, and not only make new discoveries, but get there faster, with better outcomes. with app, cloud and anywhere workspace solutions, vmware helps companies navigate change-- meeting them where they are, and getting them where they want to be. faster. vmware. welcome change. confidence is at the heart of everything we do at carrier. our systems fill buildings and homes with healthy, clean air. we detect and put out fires, and help people stay safe and secure inside. our innovations keep foods and lifesaving medicines cold

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that building you're trying to sell, - you should ten-x it. - ten-x it?management ten-x is the world's largest online commercial real estate exchange. you can close with more certainty. and twice as fast. if i could, i'd ten-x everything. like a coffee run... or fedora shopping. talk to your broker. ten-x does the same thing, - but with buildings. - so no more waiting. sfx: ding! see how easy...? don't just sell it. ten-x it. perhaps the talk of the morning today thestory "new york times" in the about the compromises apple is having to make in china when it comes to

privacy and user data. it's a big theme for corporate america, of course, and for technology companies who want access to china's market a reporter behind the story joins us this morning. jack, great reporting. it's so textured and layered we had a discussion earlier on the show today how lots of companies have to find a way to walk that line what is it about apple's situation that is unique >> apple is, of course, the most valuable company in the world and also is extremely reliant upon china itassembles nearly all of its products in the countries. made china its number two market in the world sells more than $55 billion a year there so apple has essentially built its company literally on top of china. and that means it's lost a lot of leverage with the chinese government. >> you point out, not just the company. it's actually the company's ceo who for a very long time was their master logistics scientist

who has sort of helped to construct this -- you know, has very deep knowledge, let's just say, what it's happening with supply coming out of the country. >> absolutely. tim cook was the mastermind of apple's entry into china about two decades ago, and really that's seen as, one of the biggest successes, apple's ability to capitalize on china making it the world's biggest company valued over $2 trillion. but it's backfired in ways, because it's making tim cook make compromises that undermine the principles and values he says apple is all about. >> huh jack, i disagree with your premise here i don't think this goes against apple's image at all i mean, tim cook has been taking pictures with president xi over there for years. you know, years ago, or at least

a year ago, a couple years, during the hong kong protest, took down that app that showed police positions seems to me they're doing a lot of, a lot of companies what they're doing, obeying local law in china not giving china data about people outside of china, but obeying the laws there didn't we know they were doing that >> certainly we knew that apple was storing data in china, but what we did not know was the ex-e extent it was making compromises. storing essentially on china servers and storing encryption keys on the very servers the china government controls and using this elsewhere because china would no approve crypto technology used in the rest of the world. we obtained internal documents inside of apple. secure, independent security experts and others review those documents who said essentially the compromise apple's made in china make it nearly impossible for the company to ensure that

the chinese government doesn't gain access to the contacts, photos, emails, location data for millions of chinese residents. the other thing i want to add is, there's a second component to our investigation nap is the fact that apple is proactively censoring apps in the app store and essentially created this complex area that could take down chinese officials apple adding a critic of the chinese government to a china sensitivities list and instructing software and employees to search all apps for mention of this name and take those down. >> jack, anyone who hasn't's yet heard or read the story needs to take a look at it. appreciate you flushing that out. great seeing you. >> thanks, carl. bank of america says these five stocks are the best names

to own post-covid. read them online at cnbc.com. >> and first, a messaging company, $850 million in cash and stock. announcement giving the stock a small boost today, but twilio down about 20% over last month's trading. up today, though, nearly 2%. a lot more "techcheck" straight ahead.

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we are getting headlines on instagram and julia boorstin is back with us on that what's the latest? >> well, facebook is holding the line after lawmakers make lawmae another call for facebook to abandon its plans for an instagram for kids product senators markey, blumen that will and others relosing a new statement accusing facebook of failing to protect children and urging mark zuckerberg to abandon the instagram for kids they are saying, quote, we will develop these experiences in consultation with experts in child development, child safety and mental health and privacy advocates. we also look forward to working with legislators and regulators. in addition, we commit to not showing ads in any experience for people under age 13. facebook also noting they did respond to the lawmakers, saying

they expect development of this product to take many months as they consult with experts. they're not going to back down but they're will take their time on it. >> julia, thank you. semi conductors on the radar again. today president biden visiting ford's ev plant to discuss his infrastructure bill and production later this week the white house will host a meeting with auto industry leaders to discuss the clip shortage. joining us today to discuss it, bank of america senior analyst, vivek. semiconductors have been volatile, but it seems there's momentum and names that are big and not moving as much, right? >> yes good morning thank you for having me. semiconductors are in this interesting tug-of-war where you have a very strong global economy, just unprecedented demand for products whether it

is gaming or cloud computing or pcs and you have a group of companies consolidated with a great pricing power. on the other hand there's a sense that trends are decelerating and the sector has peaked it has tripled in the last few years. i think it is an interesting tug-of-war, that it is not just one sector there are multiple end markets and multiple interest in companies who are benefitting from these various end markets. >> vivek, the biggest thing from a macro big picture perspective concerning me lately, are we going to end up with over supply again? i was seeing headlines about south korea saying they would pour 250 billion in new fab. we have information about capacity here in the u.s five years from now will we be swimming in chips? >> so five years from now is a very long time in technology, but we do know that the complexity in making these

chips, the capital requirements in making these chips is going up significantly the time that it takes to get a machine from an applied materials or an asml is well over a year right now. so i think the capacity is going to come on line in a lot more disciplined fashion. the other thing to keep in mind is look how broad-based the drivers are, whether you look at 5g smartphones, whether you look at cloud computing and gaming, that there is a big out of this infrastructure that requires semi conductors in these key areas. on top of it, you have strong demand in industrial and automotive market. so you have a broad based demand coming on line, so i think for the next two or three years they're in good shape. >> vivek, i am looking at your picks. can i read into this anything regarding pat gelsinger's plan

>> we have a kacautious srview intel. i think intel faces two challenges in their core business they have 90% market share in data center. then you have a very strong competitor like amd and a strong competitor in nvidia makes it hard to sustain that share we are skeptical they will fund a way to attract investors to join a company that has really no real background in making these products for other customers. so we are cautious on intel stock and we previous intel and nvidia instead. >> you set the bar thank you. thank you. >> when we come by, why your next prime delivery could come via flying car in the meantime watch

peloton, 100 in today's trade, up about 4% almost that name still down around 35% for the year-to-date "techcheck" is back after one last break (vo) ideas exist inside you, electrify you. they grow from our imagination, but they can't be held back. they want to be set free. to make the world more responsible, and even more incredible. ideas start the future, just like that.

one more thing before we go. a new unicorn in the ev aircraft space thano amazon frank holland explains. >> hey there, john it is valued at $1.4 billion, the electric vertical aircraft maker announcing gfunding round. kyle clark says the investment by such a respected institutional investment and a logistics giant like amazon opens the door to major growth opportunities. >> the climate pledge fund being an investor clearly puts it in the back of our mind that alongside u.p.s., other logistics customers that amazon may move to using these electric vehicles in the future >> web bush forecast, eva spending will reach $300 billion by 2028. 2021 has been a big year for this emerging tech

jovi with a $6.6 billion valuation and archer with $3.8 billion valuation. they plan to sell to ups, united their piece putices and the air force, but it hinges on faa certification. bieta forecasts that certification will come by 20246789 back to you. >> frank, i will tat back here thanks for that. private markets remained flush with cash. i spoke to co-founder and ceo of an enterprise software company this morning they managed to double their valuation in a recent funding round. so it tells us that public markets may be volatile these days but private markets still a lot of cash floshing around there, carl. >> yeah. one thing that's not so volatile today guys are the major indices. s&p is at the 16-point range all day long, one of the narrower ranges we have seen in the past few weeks.

although things could hee up tonight, we will get take two earnings after the bell. i think it is the fourth worst performing s&p name of the year so far of course, tomorrow we will have target, lowe's and tjx as we continue to kick around what have been pretty robust results out of the retailers let's get to the judge and thaf. thank you so much. welcome "the halftime report." whether wall street is now too obsessed with your money joining mr. for the hoe are stephanie link, sarat sethi, jon najarian let's take you to the wall as you know from listening toe carl and the gag, bag, tech is e leader today the ten-year note yield is at 165. yes, retail news was good today. some