a quick check on the markets me mentioning before, the s&p 500 had a fresh intraday thank you for being with us. that will do it for us tech check starts now. >> first on cnbc, snap shares take a look at them. surging today inside that earnings beat. later, we'll talk twitter. the fastest earning growth in seven years.

we'll start with intel, those shares down nearly 3%. a warning on currentquarter margins. pc unit sales rise more than 30% year over year ceo, pat who you'll hear from said the global chip shortage should bottom out by the end of 2021 this supply could be an issue up to 2030. speaking on the quarter and also about those global foundry acquisition rumors here is what he said >> we expect to see consolidation in the future. we are a big player. i expect we'll be a consolidator as those natural affects take place. >> that rolls out in a few minutes, so don't go anywhere.

>> that stock is flying today your boost there with ios security changes and snap reporting with nearly $300 million active users another big part of the story is guidance there could be a lot of other great things a key part what i'm talking about is these lenses people can use to try on

their products snap has been investing and advertisers are changing this. 200 million use august meanted reality on snap. the idea that that is drawing advertisers into this new way to reach consumers. it is a new way other than trying on clothes in a dressing room the other way is for maps. small business advertisers in particular to really find a home on snap and a way to reach consumers. >> speaking of diversifying revenue, we've got to get to twitter as well. shares are still higher following a bigger pop it beat on the top and bottom of its own, posting the strongest revenue growth 74% year over yearincrease

indicating that it is doing pretty well relying on advertising as well. >> what i think is so interesting here this is a company that has succeeded at picking up the pace saying we are going to be making changes. that was their short form where they are dropping off and doing move that means more failure to figure out what is going to stick and listening to the consumer base. we have a little more sense of when they'll be rolling out these features their ability to sell things in the bigger push that is coming

to the bigger quarter with more price points there they are looking for other opportunities to generate revenue. >> especially ahead of those apple ios changes kicking in our next guests believes social media giants will continue snaps and holdings with us now when you look at a name like snap, that is more than doubled or tripped up to 20% today. is it too late to get into this game with more of a come

backstory like twitter >> we think they should own them both it is really hard to find durable growth businesses at an early trade. they need a big market and the ability to execute and with a business model both of these companies have it. there is always pull backs in these stocks those stocks were down on the growth value and reversion trade. you should buy some today and the next time they are down you should buy more. >> how does that bode for facebook and twitter next week these are the cable nets for

today. measure against the audience building for themselves and on the tools for the advertisers. >> google has been around for 20 years. several is still building on 20%. adds on facebook cost about $50 per user we believe all of those are going higher think about it adds per user are growing 33%. 100 plus at snap and 67% of twitter means these businesses are a long way from mature >> we can't talk about targeting users without targeting changes. we didn't really see a massive

impact the company said it was moderate so far and believe people seem to be opting more than tracking more than anticipated. still little knowns about the future how do you believe they'll impact not just snap and twitter but also what we'll hear from facebook >> this is a new technology fast changing everybody was worried about whatever it was the at time. you need to invest in a business that has the ability to adapt on the fly but is also providing a great service. apple does a great job protecting their customer base these companies have massive direct user bases so they are not reliant on apple or anybody

else the truth is, customers want to see relevant adds. there could be a hiccup in a company's execution around it and still thrive means we should expect lots and lots of changes and the bigger companies. >> where do you think these are going for the platforms?

>> i think the customers, whatever they may say when they poll 1,000 people and get a response you know what they do by how they act user growth. user engagement are super strong advertising is not an everyone people can turn off ads and go private. most are interacting in social media spaces to the extent they are not interested or annoy them, they turn it off. so, no we are not particularly worried.

the ability to turn it off has been around since the beginning of the internet but most don't do it. >> it hasn't been quite so easy to do it if not advertising, what is the biggest risk i realize they've not really moved the needle for investors is that something you keep a closer eye on with new enforcers and the regulators >> what i find funny is the bigger companies with better resources usually get the most benefit from the higher enforcement because they have the tools to comply and convince for consumers. it is the smaller and innovative companies increasingly hurt and are generally changed when they reign in the bigger companies and make the regime to comply

with at the end of the day, the biggest regulator themselves if they don't like how a company is providing a service to them, they turn it off and try something new. that's how other companies died and facebook thrived looking to companies continuing to wow their customers with great services and to continue to show the advertiser and consumer that their dollars and eye balls should be spent on those sites. >> we'll learn about that and thank you for joining us senators are targeting section 230 to fight vaccine lies on social media introducing the new bill that would remove liability shield for companies should they

promote false public health and misinformation we have casey newton on. he spoke to mark zuckerberg yesterday but deidre >> he spoke about the medaverse, which raises a whole other slew. if you can't do it in 2 d, you'll get a lot of heat, how do you expect to do it in 3 d also coming up, we have intel ceo pat gelsinger. stay with us it's another day. and anything could happen. it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. get ready for it all with an advanced network and managed services from comcast business.

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chinese education tech names are getting hammered this morning with some stocks down as much as 50% take a look at that board. bringing in eunice yoon. where and when would this crack down stop but it seems to be engulfing more sectors >> that's right. just in the past couple hours, five companies, tal, new oriental, wyq, cme.

largely saying the regulations have not yet been announced. the companies have not received any formal communication quoting the document and saying the private education has been done here under this policy, all private tutorring firms must register as nonprofits they are banned from raising funds and those who have violated the regulations shall be cleaned up and rectified. also big tech companies have funded many of these ed tech firms. the goal is to try to help

alleviate stress for children and bring the costs down for parents. so if they could have more children along the necessity policy expanded to three children the ban clamped down on after school tutorring, weekend, school vacations and after 9:00 p.m. that is the stated goal but because the focus of the document has been so much on the importance of public school education and barring for money, there is speculation this could be about political control as well >> such a fascinating story. speaking to john last night.

intel ceo. take a listen. >> overall, we would have bigger numbers in the second half if we weren't limited in the supply. in that case working for us and working to build moreproduct first half, second half, we have more coming in we are bringing on more 10 nanometer, 7 nanometer costs it is just good news as we move into the next process. we expect asp to be fairly stable partially because of those supply constrains. those associated with the computing business you might have noticed, i did a big reorg. a great opportunity. overall a pretty positive story for intel. if we can find ways for more products, it will be a banner

year for intel >> you said on the call you are not going to address specifically the rumors around the interest buying global foundries. you said you expect some consolidation given the need for resources and advanced process tell me a little more about the circumstances under which you would purchase to grow what do you have to find that would be worth buying? >> my point was, this is a very expensive industry it is big and challenging r&d requirements big and challenging capital requirements you are always moving forward and we expect the eov and those are the conditions for consolidating industry

afrtd and it is hard to be a small player we are a big player. i expect we'll be a consolidator clearly in our foundry business. we are focusing and getting great interest hundred plus in the pipeline talking about more of that in the process and packaging road maps as well overall, yes we are not moring out marchd a and if these opportunities emerge, we'll take advantage of them >> tell me about what you are seeing the client compute, at the same time, you said you were

still constrained there. at least from sell through to consumers in a big time. is that part of what we are seeing for you in q 3? >> constraint in two areas one is our supply chain severe limitations for us and others. the other is for match sets. they may have the cpu on the memory chip so they can't finish the full laptop so you are sitting there with the inventory. it is really disruptive. on a lot of those matched sets,

creating those nodes in the shortage just an enormous amount of supply chain that's limiting our aup ply and that of an industry overall. we believe if we are able to find more, squeeze factories harder, we'll exceed guidance. everything is going more digital. every aspect i believe the industry and digital everything has a great decade in front of us. >> you were talking about what intel needed to do to come back. a lot of people are wondering

are you still as confidence and is the time line overall the same as you expected when you saw things in february or have things turned up to make you think i'm still confident but this is going to take longer than i might have expected with looking under the hood before i was ceo. some things are better or worse. overall, the time lines are the same we expect to be more competitive in 22, 23. we are talking a little more about that on sunday we are making a lot of progress

a huge amount of knew features and core counts this new cxl and taking more time to get validate for the high quality rapidly degreeing number we have seen the talent coming back into the company. that's maybe the best marker of all. >> watch more of the interview on cnbc.com. those margin concerns and chip shortage >> opening ceremonies today on cnbc despite the game's one-year delay and lack of spectators in

the stands, the games are expected to bolster nbc un veral and discovery. aing ad revenue is out pacing the dollars from the rio games saying tokyo will have more advertisers than any other games with 80 new advertisers. thanks in part to the draw of new digital options. with peacock streaming many. adding new users relative to linear channels. discovery generates more olympics revenue from sub licensing than advertising is offering games on discovery plus and eight european markets where

discovery is launched along with free trials. argus is looking into the games and the winter games coming in 2022 we have to see what new updates we get from comcast and discovery the following tuesday with the game's new impact >> i was watching the ceremonies this morning my five-year-old who has never seen a summer olympics was mesmerized so it still has that magic the markets hitting another intraday high a few moments ago. more tech check. stay with us it's so good to see you. good to see all of you, yeah! why is jerry so... popular? it's been like this ever since we started using workday.

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hour major averages looking close to the four day close that comes after the 700-point dow drop we are seeing another s&p high moments ago. let's get over to rahel. >> here is what's happening this hour shares of american express with strong second quarter results and continuing growth in travel and payment spending ceo says the corporate budget will not return until 2023 earnings season is off to an extreme start. the best quarterly growth in a decade sam adams posted one of the biggest earnings misses with the hard seltzer category. shipments of boston beer

dropped. the stock down 24% also gm recalling the chevy volt 2017 to 2019 model years warnings to those and recalled use of those using the vehicle now back to you. meantime, mark loves the metaverse. great interview with mark zuckerberg what does it mean for facebook and ad supported social platform what does it mean for that to be a metaverse? >> we'll find out probably over 10 years this thing is probably still in its early stages you can think

about it as a move away from the traditional advertising business dig call payments and goods empowering creators and artists and virtual performance spaces if he has this way, this will be an entire economy. that means all sorts of different ways for facebook and others to monetize it. >> so we'll all be living our lives in a virtual space created by mark zuckerberg even if it is in 10 years, does it make sense for him to talk about it now in terms of the way they have perhaps allowed for misinformation to spread, which has been a critique of the biden administration >> certainly, the timing here is

rather surprising. the government is currently trying to rip facebook up and now facebook is saying, we want to be a bit bigger zuckerberg would also say in his view of a metaverse, it is not owned by one company a lot of companies participate in this. they would say we want to be one of money companies building the metaverse, not just one. >> again zuckerberg very excited talking about this i know you talked about this, as a kid, he said he has had his eye on this and thinking about it it was very telling how he said facebook was just getting started when smartphones were

gaining popularity he would have liked to have been more involved there. this is just him getting ahead of what he thinks is the next biggest thing but also really control. apple and google has control of the app store, is he looks at controlling being the glue of the metaverse? >> i thinks that right he's totally fed up having to live on other people's platforms. apple has given facebook's no shortage of trouble. if he could own his own platform maybe with occulus >> when does that leave fortnite and roblox you have to be able to switch worlds and bring your users.

who is best set up to handle those? could it be a new player >> i think zuckerberg in particular is paying close attention to what fortnite is doing and roblox is doing. fortnite has already done some metaversy things ip for different movies. can you dress up like a different marvel or dc character. and talking about wanting to build a metaverse himself. i'm sure there will be other players along the way and maybe it will only be new players building it. some of the smartest and best capitalized players in the industry right now feel like this will be the next wave of innovation over the next decade.

>> if this is still several years out, tell me what you think that will mean for the more near term opportunities what should we expect three quarters down the road as opposed to three years down the road >> for facebook, it is all about facebook and commerce. they are putting shops across the family of apps and building tools. on the creator side, they have a billion fund to get more creators to monday ties and taking a cut of the tips that they are getting and the monetization that they are offering they are hoping to hang on to those people as we move into this more virtual augmented

reality world. >> i could talk about this for hours and geek out on it thank you for joining us we'll talk to you soon our next guest's largest position is in twitter the next leg of growth and tech check is back in a moment. this is cynthia suarez, cfo of go-go foodco., an online food delivery service. business was steady, until... gogo-foodco. go check it out. whaatt?! overnight, users tripled. which meant hiring 20 new employees and buying 20 new laptops. so she used her american express business card, which gives her more membership rewards points on her business purchases. somebody ordered some laptops? cynthia suarez. cfo. mvp. get the card built for business. by american express.

. >> our next guest is bullish on twitter making up about 70% along with some call options in a recent post saying wall street doesn't know it yet but soon content creators will be paying huge to twitter welcome to tech check. i guess my first question to you is how soon will creators be paying twitter they first need to get users to utilize the tip platform >> absolutely. super follow is in beta testing right now. the head twitter engineer tweeted that they inspect to

roll it out very, very soon. twitter has been clear that they plan to release things early i think the first version of super follows, i expect in the next month or two, we'll expect to see twitter turn on super follow for everyone. the idea of people spending money on twitter you or i may be willing to pay a little bit because we are super users of twitter how much of that audience could be converted to pay? is this still going to be a niche space? >> i think a lot of online users will push their followers to

super follow or buy paid follows. >> i'm a user on twitter, i have a news letter. when it comes out, i will push active users twitter has credit card on people once you get the credit card info from a user, it becomes a lot easier to sell them on another. they can super follow and pay with one click that will go to twitter's advantage. >> getting those credit card numbers into the system. >> thank you for joining us. >> absolutely. the stock on your screen is up almost 50% since january. credit suisse takes it to a new street high.

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on shopping and maps both stocks gaining on all-time highs today. raising the stakes ahead of earnings a bit of funding news. delivery startup gopuff valuing the company at $15 billion up from $19 billion in march. as well as what some might call the frothiness in private markets. they would have raised $2.5 billion in two rounds more than tripling valuation blackstone is a new investor and fiddlible doubled down and told the majority of funds are earmarked for global expansion i mentioned doordash and uber

hot on their heal. showing dash took market share from gopuff in 2020. we have to mention that gopuff is a two-time cnbc disruptor 50. do find out more on our disruptor trailer. >> you wrote the intro you've got to sign up for the news letter. shares of auto part maker veoneer are up after words that they'll be boughbyt magnet. the ceo of magnet here next. undeniably versatile. unlimited 2% cash back. this is the card built for... ...real life. (dad) she's gonna be a drummer. (cashier) yeah she is. that's gonna get loud.

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goldman you said the stock to a buy last month. and just last night magna buying driver assist supply err veoneer. phil lebeau joins us with the ceo. >> julia, thank you very much. let's bring in swamy cot geiry, the ceo of magna international tell me about the deal and your vision for incorporating veoneer and its technology into an extensive suite of technologies that you already have at magna >> hi, phil, good morning and happy friday it was one of the important pillars of strategy as we talked about the investors in april

saying we are going to continue to accelerate investment in the growth areas that are relevant to the car of the future, which is electrification, connectivity, ados being the three prominent ones this is part of the strategy we are implementing we always had a great foundation in the assisted drichgt ados domain when the two businesses come together, the acquisition of veoneer, the transaction strengthened that a lot more if you look at the complementary nature of the business, it completely fills the gap in terms of sensor suite, in compute, in terms of all the software features. and really i'm excited that we are welcoming about 3,800 engineers, 7500 in all employees from veoneer this is a great start for us and a lot of untapped potential in a fast-growing area >> swamy, sounds great on paper.

paying $3.8 billion. veoneer based out of stockholm struggling to get to the profitability. why do you believe you can take where any struggled and turn it into a profitable part of your business >> phil, a lot of the fast-growing technology areas is really about getting scale and i've talked about it previously, the intent here is to be able to develop a scaleable modular platform but once you have that a lot also depends on how many times you implement it in different programs and different platforms. i think with the scale that magna has we are really positive that we can do a lot of that stuff. and if you look at the software talent and what's happening in in growing area, bringing all this synergies together, whether testing, whether it's validation, tool chains and so on, so forth, all inform coming together will accelerate the profitability going forward. and we are really looking for

the long-term, sustainable shareholder value here >> swamy, one last question. i know you guys are working with fiskar, building the ocean over at your final assembly plant in europe any movement or update on building a final assembly plant here in the u.s. as more companies, start-ups look to startabling full, complete vehicles >> the fiskar ar program is going well on track. we look at many opportunities coming forward as we said before, one of these days when we have the right mix of customers, right volume and road map, we are going to start acting on what we always said, we are open to having the right footprint in north america >> swamy cot geiry thank you, joining us from the company headquarters in troy, michigan as i send it back to you guys, don't be surprised if we see more deals like in driver assist

technology is red hot and crucial to the future, especially talking about autonomous and mobility. and as these suppliers are out there, companies like magna are looking at them and say, let's make a deal. back to you >> we know it. phil thanks for bringing >> if you missed part of the show, subscribe to our podcast, available wherever you download your podcasts. "techcheck" is back in one more final break.

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it's been a busy week of earnings and there's more next week listen to this this. apple, microsoft, alphabet, facebook, amazon and the qualcomm, tesla, paypal, pinterest, all on deck we mentioned social stocks at the top of the show. ifs in a precursor, julia, this could raise expectations for pinterest and facebook they better not disappoint >> yeah, well the pressure is on for pinterest now. we see that stock up about 4.5% on the positive earnings surprises from snap as well as from twitter but it seems, deirdre, the

quarter was good for advertising and the social ad platforms benefit. we have to note that facebook is up 6.5% today on the -- the credit suisse note as well as the twitter and snap earnings. and alphabet we hear from next we can, the shares up 3% as well so the optimism is high going into those big earnings next week, dee. >> it is and of course the ad story on social media but also you mentioned alphabet and google, the cloud story, right. we have microsoft, alphabet, amazon all coming up with a lot of questions on can they keep up this growth? alphabet shares up another 2.6%. a lot of the maga cap tech games hitting record highs into the earnings season. back to the theme that expectations are so high can they deliver that could perhaps be the thing that knocks them off the perch or keeps them going. >> meanwhile, julia, one more

thing we want to mention, that bitcoin is holding above 32,000, julia, as crypto remains volatile this week just another mention if you haven't seen the live stream with tether ceo and catch that on our digital page. that will do it for "techcheck." halftime with the judge starts right now. all right, dee, thanks welcome to the "halftime report." i'm scott wapner front abcenter, the incredible week as stocks begin with a major selloff and end on the road to new record highs we'll debate whether more volatility is ahead and where your money works best. joining me the hour the investment jenny harrington, amy rascon pete najarian let's begin with the markets. gains across the board the dow he retakes 35,000. the new intraday highs for the s&p and nasdaq pete, a remarkable week. i can't believe we are where we are given where we were on