now. we're being powered by earnings. speaking of earnings, united airlines and netflix after the bell, so we'll keep an eye on that "techcheck" starts now ♪ ♪ ♪ good tuesday morning welcome to "techcheck. i'm carl quintanilla with jon fortt and diedra bosa. today apple is getting chippy. ramps up pressure on competitors. what it means for the rest of the pc ecosystem bitcoin future's etf debuts. what is the future >> this is not a game. a new report outlines how payment for order flow entices brokers to promote risky retail trading behavior, jon. >> yeah. let's take a bite out of apple just to start announcing new mac

book pro designs with their mac chips yesterday's unleashed event. the raw performance and ambition in these chip designs have the industry reeling a bit this morning. 32 core gpu in the mac, 57 billion tran sisters puts pressure on the rest of the ecosystem. perhaps creating some opportunity for them, too. while the new m 1 pro and mac chips are in higher endyma sheens we can expect to see this trickle into more mainstream computer sales in 2022 and 2023, if history is any guide. and, also the next generation of air pods making headlines at $179, that's kind of in between the higher end with noise cancellation now there's a lower end. more pricing tiers starting at 129 bucks, dee but these m1 pro and mac's chips, i mean, we can geek out a little bit on chips, but what

this is doing, lisa su was just talking a couple of weeks ago at code about hetero genius computing and the idea to turn different cores on and off, graphics, cpu depending on what the user is doing. that's what apple is trying to take the lead in here. and they're going to grab share if the others don't answer. >> right the first nine minutes of that event yesterday dedicated to chips. it was clearly the start and as you mentioned at the top, jon, you're seeing this sort of as a threat to the traditional chip makers. and not just on the pc front, but on the data servers overnight, right alibaba unveiling a chip, the most advanced in china so far and doing it itself. the fact that a chinese company, carl, is unveiling this sort of advanced chip perhaps raises questions as xi jinping's drive to -- for china to get better at chip making. is that bearing fruit right now? what does that mean to the complex? >> yeah. and as for apple, guys, morgan

stanley this morning the most aggressive step yet to strip intel chips out of their pcs, jon. they make the point by adding the m1 pro and m1 macs they can take their chip line and decide whether they want to go high or low within their own in-house production. >> that is true at the same time we expect to get some technology announcements from pat gellsinger into next week after earnings want to talk to him about that this is a validation of this strategy that he has, not only to do foundry but to bring more focus to graphics and high performance. intel has to do that they can't just be a component maker. they have to be a solution provider but can they execute is the question because the market will run away, dee, if they don't. >> yeah. clearly the bar has been raised here meanwhile, guys, another big story they're following first bitcoin etf, a bitcoin futures etf debuting kate rooney is here in san francisco. feels good be here in person. >> this is the best. >> a lot of folks are wondering why do you need a bitcoins

future etf when you can own the underlying asset this is really about regulation. we heard from the s.e.c. chair about the idea that bitcoin futures are traded on the cme regulated by the sibling agency and that's why we had this but when we look at this landscape, there's more competition coming. >> absolutely. yeah, there's this flood of other applications in the works who have one from valcary this week futures based bitcoin efts, but other spot based etfs and companies are getting a little bit excited saying, okay, we're seeing these futured based etfs approved this probably means they're at least opened to the idea of a spot based etf, track the underlying bitcoin or hold bitcoin versus tracking bitcoin futures. so it's way more tightly correlated to bitcoin itself bigger risk. >> exactly so what makes focus out there think that the s.e.c. would be open to that when he does talk about the cmg, have coin base

become a trusted exchange which hasn't exactly endeared themselves to regulators >> one other thing -- i spoke to ceo grace, they applied today to convert their bitcoin fund trust into an etf eventually folks i'm talking to say listen this will take a while it's probably not imminent one of the things he mentioned is the correlation between bitcoin prices and bitcoin futures and saying one of the things that gary was really worried about was price discovery and the idea that they needed predictability in the prices they were saying, you know what, futures have shown that that they really do track the price of bitcoin the market has matured and this particular fund owns about 3% of the bitcoin in circulation. so saying they probably have the scale at this point. and they could easily convert into an etf. >> it's a good candidate speaking act the price, last i checked this morning, above 62,000 the last time we saw at this level was when coin based -- >> ipo'ed.

>> that was the peak could we see the same thing after today? is that the price come down quite a bit? >> people are a little more skeptical, maybe the bears out there, would say if you look at cme futures, those were approved in 2017, it was december 2017, right before the last crypto winter that people talk about that we're the price dropped by something like 80% at the time some people said this could be very much by the rumor but the bitcoin etf is live and almost -- >> the winter that second time around earlier this year is a lot -- wasn't exactly a wind fair it was a blip. >> it was a blizzard. >> here we are. >> exactly those who said spot etf is on the warks they say the market is way more mature. it's at the point where there's more predictability and the underlying asset is a lot more protected. the take away from his interview was investor rotection, we nee to make sure the underlying asset isn't vulnerable to fraud, hacks, cyber security risk. >> we're still some ways from that key moment for the crypto community and etf community.

carl, over to you. >> guys, everything you just been talking about ties to our interview this morning we talked about crypto and a lot more, bob. >> important, a lot of things we went over with the chair we spoke with him about the new bitcoin futures etf and his staff report on the game stop saga what caused the game stop run-up well, the report says that while short covering was a factor on key days, it was in reality a wave of positive investor sentiment that was the primary cause of the price run-up. the staff did consider but rejected other explanations for the price rise, included naked short selling and a so-called gamma squeeze. what, if anything, should be done about this? the report is very long on facts but very short on recommendations. he has spoken for months about the deleterious effects for payment of order flow and gamification of trading.

>> there's still payment underneath these applications. it also doesn't mean that it's always best execution. we have had cases where we have announced in the last 18 months where there has been this conflict between the broker on the one hand and this payment for order flow on the other. and let me just remind your viewer, that if you place a retail market order as shown in this report, the vast majority of those don't go to the transparent lit markets match they go to the dark. >> however, the report did not tie the game stop saga to payment for order flow or gamification now on bitcoin, i asked him why he had green lighted a bitcoin futures etf but not a pure play. here is what he had to say >> i think that we in the official sector should be technology neutral but not policy neutral so what we're trying to do is

ensure to the best we can within our authorities to bring projects into the investor protection perimeter >> now, while many in the bitcoin and etf community are unhappy that a bitcoin futures etf has been approved over a pure play bitcoin etf, most are happy with this very small first step next congress needs to make it clear who has regulatory control over the crypto world including crypto exchanges and deirdra and carl, that the problem gensler repeatedly said i have problems with a pure play bitcoin eft because i don't have control over large part of the ecosystem, for example, like exchanges. and for that reason, a lot of people feel the chances of any imminent approval of bitcoin etf are very, very small guys >> interesting given the freedom that giving bito today, i wonder all those in crypto sort of denouncing his

general stance on regulation, not that he cares, but do you think they're having to reconsider today >> he has a problem, he wants to be seen as a champion of financial innovation, but not a professor at m.i.t., in charge of the s.e.c. which is specifically charged with investor protection. in a very different role than when he was a professor at m.i.t. futures solves a problem for him. it's a regulated market. it doesn't involve fraud on exchanges. people breaking into exschchang. people forgetting their passports. it solves a problem for him. in the meantime, he has to work on getting the regulatory approval that he feels he needs in order to get his hands around the universe and then you can advance it i think he's in favor of a bitcoin etf but not without clear understanding of what his regulatory bound is and whether he's part of the cftc he has to work with. who else who else in regulatory agencies do we need to get a clear understanding. i think it really does -- might

require congressional approval at this point, carl. >> bob, he also talked about the changing nature of platforms, not just financial but from retail to streaming to gaming. and what that means for finance. and what we've seen this year certainly is a lot of gamification over the last few years. i just want to point out, throw to the sound bite from cathy woods recently take a listen. >> a lot of people are concerned about the gamification that the robinhoods of the world represent. but i'm not worried at all about that i think what happened during the -- after the tech and tell come bust and the '08 and '09 meltdown, the fear and risk aversion that permeated the markets took the joy out of the markets and took the creativity and the imagination. now it's coming back and i really think it's starting with the millennials. they are excited >> now gensler talked about this and he said are they as in trading platforms, the

robinhoods using behavior prompts to trade more or move more or trading on margin. but he has given us a clear answer on whether he thinks that needs to be changed, what the s.e.c. can actually do to help the public or if they need help? >> his body language clearly indicates he does want a change to be made i think he's on to something all due respect to cathy woods, i think he's -- directionally correct. it does likely encourage more trading. what he needs to be able to show is there is some kind of harm for this is there a problem with more trading? does it make people prone to errors does it make people prone to trade too much if you can show a demonstrable harm, there might be a reason for enhanced guidelines from the s.e.c. i think it's going to be a little more difficult on payment for order flow and i pressed him on this this morning i think he'll have a much harder time demonstrating the public is getting harmed or ripped off payment for order flow because the average investor is getting

a better deal than they have ever gotten in history commissions are 0, costs are down dramatically and execution quality is outstanding there's a little debate about that overall i think he has a point on gamification and tougher time on payment for order flow. >> yeah. well, important to read that body language and you have brought us your expertise and continue to. we appreciate that thank you, bob now after the break, what to expect from netflix as it reports after the bell plus, the star of apple tv's ted lasso will join the show "techcheck" just getting started. ♪ it's another day.

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a gut check on chinese tech stocks making a comeback since the start of the month, alibaba and jd.com are up more than 15%. now, this is a bounce off some very steep declines. look at these year to date charts you're probably aware, but it's pretty ugly. alibaba lowered by more than 25% in particular as that crackdown

continues to depress valuations. baba we mentioned the stock is getting a pop on news it launched a new chip to power its data center business the company is looking to ramp up its cloud business, compete with the giants, amazon and microsoft. guys, this doesn't get talked about a lot. alibaba is the third largest cloud vendor worldwide ahead of google and ibm and carl, just one of a few chinese companies in that top ten huawei another one making moves in the cloud space. >> yeah. definitely breaking that down trend. netflix earnings are of course tonight as the company continues to deal with the blow back from the dave chappelle special, julia talked to netflix co-ceo reed hastings last night about that and squid game, jb. >> well, he didn't give me much on squid game but let's start with earnings. the company is under pressure to jump start user growth after its stock plummeted on weaker than expected user guidance last quarter. so two numbers to watch today. 3.5 million, that's how many subscriber additions the company

forecast for the third quarter now, even more important is fourth quarter guidance. 8.5 million subscribers. that's what analysts expect the company to guide towards in q4 now, we're also listening for commentary on a couple of other key things how the surprise success of "squad game" will influence strategy and results and what's next fsh games and of course the outrage over dave chappelle's comedy special some employees planned a walk-out for tomorrow. now, it was the elephant in the room at a philanthropy panel that i moderated yesterday with reed hastings at the milk and institute global summit after half an hour of talking about his philanthropy i tried to get him to comment so i need to ask if you're going to respond to those employee demands and how this whole situation is prompting you to think differently, if you are, about what are the lines of content you want to cross and what type of content you want to

promote on the platform? >> you know, the fundamental thing about charter schools and the way this works -- >> reed, come on. >> is to focus on what we're here for and we have earnings tomorrow. and -- >> so is that a no comment i will move on but i have to say is that a no comment. >> sure, it's a no comment >> i continued to press hastings a number of times on that topic, but no avail his co-ceo did defend the company's stance on dave chappelle and that special maybe he will weigh in on what's going on with that this afternoon. jon? >> you continued to press, julia? you. i don't know i think that could be your epitaph, continue to press for sure we can count on you for that. stick with us. we also want to bring in bank of america securities gnat schindler. about netflix. nat, the outsized success of

"squid game" important there's this metric that often is talked about the efficiency cost versus what viewership brings in. it's been quite high for "squid game" surprise breakout hit. i wonder as you look at squid game versus the dave chappelle special, what does dave chappelle do for netflix certainly it's popular content but it's expensive is there a chance they lose out or is it probably going to work out for them >> yeah. thank you for having me. i think it's very difficult to tell so, it would be difficult not just for us to tell from the outside, it's difficult for netflix to tell. you've seen reports that i've seen that internal estimates suggested that "squid games" would generate 900 million that's difficult to know it probably generated a large amount because it is the fastest show in sub -- in user views that we've ever seen it has the largest google trends

effect i think on the order of a third bigger than the witch and i think it's very important to look at that but, one that's very difficult to predict what shows will do that, even for netflix and it's very difficult to say afterwards, did that show hold that value over time because it could bring in subscribers from south korea and around the world for a month, but if they don't stay because that's what brought them in, it's not enough you need to have lots of different content and that's what netflix does so well is they bring out so much content over so much time. now, you can quibble about any particular piece of content that they create on whether or not that piece of content is too expensive for what they get out of it. one, you don't know because you don't even get the data that they have internally and they don't know because they can't know whether or not consumer subscribed to see dave chappelle but didn't like it and quit or they stayed because they wanted to see red notice that's

coming out later this year so it's very difficult for anyone to get to really concrete numbers on that. >> julia, from your years covering the company, have you ever gotten the sense that people churn, people actually leave because of individual pieces of content? chappelle said in the special, this is the last time he's going to talk about this stuff so i wonder, as they're trying to build this comedy franchise in part around chappelle, is that a good sign for them that from here maybe it will be smoother sailing >> well, jon, look, multiple questions packed in there. i think that netflix has talked about how particular titles whether it's a series of movie do get people to sign on sort of the rule with streaming services and this is sort of commonly held belief is that new titles, big high profile titles get people to join and stick around to watch the library they stick around to watch friends or seinfeld or stuff where there's a really deep library of older shows

so i don't think we've heard anything about how people leave because of a certain piece of content. i think the question is with chappelle, you know, this is the last in his series that he has committed to already doing for netflix. so he said this is the last time he is going to talk about this because his run doing these sort of pricey specials for netflix was over, not because this was his choice to make this the last one but that was sort of the part of the contractual deal with netflix they have a wide range of different types of comedians on the platform and i think no one wants -- no service would want to be too reliant on just one particular comedian. >> and nat, i'm much more interested in the squid game phenomenon and i know the b. of a trading desk mentions your coverage they talk that it's been a disappointment around earnings for really a couple years. 10 oth last 13 quarters as subs are a big question mark going in but that squid game is a new

differentiated skill in which they can take a show from a foreign country and have it be a phenomenon all around the world. do you think there's a stair step function there? >> well, i think that's the real key to squid games here is that we know it didn't cost very much relative to other shows. and one of the things netflix has said for a long time is that they can democratize the production of content around the world. one of the reasons hollywood had won for years in its quality of content was really the production values and the expense paid for hollywood content. now you're getting that level of production values everywhere else in the world. so, if you could create shows from all over the world with actors people have never heard of but still love the content and directors that they haven't seen before, and even in languages that they don't know, that's a huge advantage because now you can potentially lower the whole cost of creating great content as you see with "squid

games" one of the most popular shows netflix created. >> but is it repeatable? the anti-disney. it's nice when it works, but is it repeatable? >> if i was dwayne johnson or ryan reynolds right now i wouldn't be so worried that i'm going to see my salary collapse because someone could be creating content out of malaysia that beats my red notice coming out. >> wow. >> but it is something to be concerned about. >> something to be concerned about for sure we got to leave it there. >> something to be excited about for netflix. >> nat, julia, thank you >> you know, it could have been anyone it could have been them that discovered squid game. after the break, more on what is next for apple and its competitive position apple is coming off a big rally up 5% in the last five days, but still underperforming the broader market this year don't miss amc ceo adam aron

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welcome back to "techcheck." i'm carl quintanilla with deirdra bosa and jon fortt got some chinese tech in there as well as docusign and adobe. s&p one month high and banks high as well a news update. >> here is what is happening at this hour. home builders starting construction on fewer homes in september. the 1.6% decline was far larger than expected fuelled by on going shortages of materials and labor. the base of new housing permits has also slowed. $2.3 billion, that's the added cost of shipping and comedies procter & gamble and shrinking margins as price increases are not keeping pace with rising expenses. the cost concerns helping push the company stock lower

despite a q3 earns beat. shares of a pharmaceutical down 60% after plunging more than 70% the bio tech saying it's oral treatment for covid failed in a mid stage trial. shares now trading around 15 bucks down from a high of $94 in february and southwest air is ending plans to offer unpaid leave to employees who do not get vaccinated before federal deadline in december the company is giving workers until november 24th to show proof of vaccination or apply for an exemption carl deirdra? jon, back to you >> thank you software stocks carl mentioned are shooting back up to record highs retaking the september top. mike santoli joins u to break down the snapback rally. mike >> pretty resilient here not necessarily broadly inclusive a move you might expect but the software sector is leadership for various parts of this year for the overall

market the software etf here, igv is in green. you see not only at a new record high but nosed ahead of the s&p 500 on a year to date basis. with the significant help of two of the heavy weights, microsoft and salesforce together are about 18% or so of that etf of the overall sector, just the megacaps really doing more of the heavy lifting. take a look at more broadly in technology if you do an equal weighted version of the s&p 500 technology sector, the ticker this etf, also reasserted itself a little bit, got that double bottom look to it in september, october, but not quite yet back up to those highs. similar to the overall market. so obviously semis might have a little more room to come back. so it seems like the growth trade is back in gear to some degree it's been pretty tough to extrapolate that all year because we swapped off leadership cyclicals also alonging okay today. so perhaps after we get back to highs, we figure out exactly whether there's going to be a

leadership tilt one way or the other. >> yeah. we'll continue watching, mike. thanks for that. tim, back to apple now what came of yesterday's announcements. we talked about chips but let's talk about the products, too let's break it all down. let me start with you, there was so much excitement all these close-up pictures of the mac book pros and the ports on twitter a lot of enthusiasm, but let's remember this haven't been in the hands of any journalists quite yet. is it justified or do we have to wait a little bit to see if they actually deliver >> i think it's justified, obviously i'm a product reviewer i'm going to tell everyone to wait for reviews but you give the people what they want, they turn out in force. give them the ports back, take the dongles away,add the butts back at the top of the keyboard. people were more excited about this laptop than the iphones it was hard to buy the machine

for a while from apple the ship dates slipped immediately. i heard from apple folks themselves that they were having a hard time buying their own machine. there's a lot of pent-up demand for a useful pro machine from apple, and they delivered. >> pent-up demand certainly among creatives, but i wonder is the investment community as excited as that professional community that is going out there to buy them and it's significant group but not a mainstream group >> yeah. that's right, deirdra. thanks for having me you know, the mac book has taken the backseat for a while ever since the iphone it's not a meaningful driver of revenue of earnings. it is incremental and every bit helps. i think the biggest thing here is the whole fact that the m1 phone and m1 mac that apple moved to custom silicone away from intel is really being well liked. you can see all the benchmarks,

everything that the chip is really, really performing amazingly well and that is actually good for apple. number one, they are always on the leading edge now number two, it's incremental to growth margins bringing all in custom silicon and really strong product benefits but to your point, iphone is the biggest part of the pieces every bit helps with the mac book >> i want to go back to the chip conversation as it relates to apple right now because i think we're seeing something that in a way maybe we're too close to it to appreciate the significance we're seeing arm-based computing taking a lead in the performance conversations in pcs right now what do you think that means for apple and potential market share gains over the next couple of years given how well they're doing at this so far and what kind of danger does it represent for the other oems, players, pc

makers in the ecosystem? >> yeah. i think the shift to arm is an architecture overall has been slow throughout non-phone computing. we have seen a lot of attempts to do it we have seen a lot of attempts to do it in the data center where it has taken hold. it has not taken hold for consumers for regular people, desktops, laptops. apple is proving that they can just go right into it. they don't have to baby step into it. they don't have to issue a cutdown machine that can't run the app. they can take their most powerful, popular machines and put an arm based chip in there obviously it's a very custom arm based chip that's not necessarily related to what the other folks in arm are doing but they can do it i think that is a big wakeup call for the industry that they need to refocus on battery life and performance while delivering on battery life in the way that intel have not been able to do for a long time. >> just on the pull forward for hardware in general, i guess specifically at the enterprise

level, we seem to be at this moment where some people arguing we pulled a lot of demand forward and look out below on the other hand, others argued the reinvent of corporate it is just beginning as we get our hands around remote work do you have to be on either side of that debate >> i think you don't have to officially apple shareholder because i would say there's two possible debates number one, mac is actually niche market you look at the bigger part of the pc market between dell, hp and lenovo, they have two thirds of the market share. i think the shift between consumer to commercial is more of a debate between those three big players. when it comes to apple it doesn't necessarily matter it's more of a niche product driving a lot of adoption. but when it comes to the big part of the pc market, the longer it takes to return back it does seem to push out i.t. spending budget by that much and

therefore the factory pushs out the commercial adoption. >> thanks so much for your insights this morning. we'll talk to you both again soon and speaking of apple, after the break, don't miss an interview with ted lasso's jason sudeikis and the big week for half-time continues. starts at noon p.m. eastern right after "techcheck." we're back in two. paola needs a parachute. so, salesforce customer 360 unites your marketing, sales, commerce, service, and it teams around her. so they can deliver a great experience from anywhere. ♪ (whistle) ♪

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♪ what a year jason sudeikis is having, the actor currently writing and shooting season 3 of his em my winning show on apple tv "ted lasso" and hosting snl this weekend nearly a decade after leaving the show asked him about his studio at 8h and what it means to be a creator during a golden era for digital content. >> i bridged that gap between analog and digital, you know what i mean? i do the bulk of my re-writes with a red pen on actual script and then i learned from my "snl" days i was at "snl" you get your sketch back and watch it on vhs. now you pull it up on your phone and scrub through it what i think the coolest thing for me as someone as much of a fan as someone who makes this stuff is that everybody alive has these things and i'm excited

for people like even my children's age who are 5 and 7, them making -- them having a movie studio, a television studio n their mom or dad's pocket or purse, you know. when they get to an age if they have the ability to have one of those themselves, it's not the setup you used to have it's not as, you know, finite of a group of people. and to not have to go through a film school or anything like that to then have access to that type of material, that type of equipment, to then tell your stories isgoing to have a profound effect, more so than i think -- probably in relationship to the internet because what that also does is it allows the best to be found i mean, i remember my basketball days i wasn't great, great at basketball but i was decent and i remember hearing something that if you're good, they'll find you you know what i mean they were talking about some 6'9"14-year-old kid that lives in alaska, not me necessarily.

if someone is good, they'll find you. so now in this streaming age, if you make good stories, whether they're 12 seconds long or 12 hours long you have a place to put them and people will find you and you'll have the opportunity for someone else to pay for them and get paid to make them. >> what him to us his worlds colliding, long-time advocate of children's health. abbott put anymore real madrid to talk about nutrition. that's the reason. but we talked about digital content and streaming because this is "techcheck." >> i was going to ask that why was the real madrid logo in the background, some tie-in to richmond i love that analogy playing basketball that they will find you. good content will be found these days and increasingly, carl, that's to be found overseas internationally as evidence by some of netflix's biggest hits these days three of the top ten shows now they're international. >> yeah. and i love that idea of kids,

jon, using cinematic mode on the pro, doing movies that you can literally be compared to a hollywood director or writer or actor. it's really going to change the game about talent discovery in the years to come. meantime the nasdaq is trying to make up five days up in a row not all the stocks are in the green this morning, though take a look at some of the losers big downgrade over marriott, some of the discounters and consumer package companies as well. we're hanging on to 4513 back in a moment feel stuck with credit card debt? move to sofi and feel what it's like to get your money right. ♪ move your high-interest debt to a sofi personal loan. you could save with low rates and no fees. earn $10 just for viewing your rate and get your money right.

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roku climbing 10% since the start of october looking to snap a three-month losing streak which is its longest since early 2020 roku positive for the year that stock is still 30% off its highs. so what does the street's take 74% of the analysts are bullish on that stock calling it a buy average price target $471. that's more than $100 from here going into earnings. and in the meantime, speaking of tv hardware, we have news from our own parent company comcast, julia, what are the details? >> well, that's right, deirdra cnbc parent company comcast just announced first tv sets for here in the u.s they're called x class tv. these are smart tv sets and they're built for streaming and they make comcast streaming

entertainment platform available for the first time for those who don't have xfinity subscription and live in that xfinity footprint. the tvs cost 300 or $350 and will include a year of peacock premium subscription at no extra cost and people will be able to buy live paid tv services from hulu, youtube and others and then they will have access to streaming services including netflix, hbo max, disney plus and others. and come cast will make it possible to sign up for paid tv streaming services from xfinity if you're in the comcast footprint or charter communications if you're in that footprint and that will all be through x class tv now all of this enables comcast to scale its tech platform to reach more consumers outside of its footprint. they can reach with ads and peacock and other services as well guys >> julia, it's an interesting strategy and a way taken from roku's play book because from dongles to tvs they have been doing this for a while interesting that now is the time we're seeing this surge into

lower cost tvs, looks like they're 43 and 50 inches, 4k ultra hd but refresh rates probably won't be great for gaming, i'm guessing this is more of a guest room or bedroom tv do you think this is a method that will have legs in the cable industry in general? >> well, what i think is so interesting here, jon, is that comcast has developed all this expertise with xfinity the xfinity box win awards, people love them, they figured out how to bridge live tv and streaming and make it possible to search between both regular linear tv and also these different streaming services and so, comcast is saying we have all this expertise. we have this technology. let's figure out how to make it available to people in cities such as me in los angeles who are not within that comcast footprint. it's really trying to leverage everything they've learned they recently just launched a television in the uk that's called sky. of course that's the brand there. so, i think this is them trying

to take advantage of all of their capabilities and then once you have reached into these new markets, there's so much opportunity for targeting ads and the like. >> yeah. that's certainly the line from companies like netflix over the last couple of weeks just the huge percentage of tvs around the world but even in this country that are still not connected or smart pretty fascinating thanks. still to come this morning, health down big after going public via that spak we'll talk about the health of health tech in a moment.

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>> clover health came public via spak and backed by chamath palihapitiya, like investors so far cool to the company, bertha coombs join us where she sat down with the clover health ceo. >> we are in boston where health companies come together, and he says when he sits down with investors and explains the company's mission they get it. clover health basically tries to leverage its software which it gives for free to the doctors on its network in order to improve the health of its members, bringing down those costs and that ultimately, they say will lead to profitability, but so far the company is not profitable and the shares so far only for the fourth time since going public in january.

troy says this is about a long-term strategy >> i think that makes it harder for investors in the shorter term to get a feel for certain statistics around the company, but that's why i inkeerj folks to answer your question, to take the longer view. >> it's interesting that he talks about the fact that retail investors seem to get it so far clover has been a better bet than the short side with the 15% short interest and that has also made it a favorite of the main traders on reddit and when i talked to toy about it, he said he's read some of those spots and one of the things that's happening is people are understanding medicare and understanding its mission, but at the moment it's not necessarily giving the stock any leverage it's down 72% from its high in june, but we are in the middle of medicare open enrollment and they are doubling their

footprint this year. take a look at the map they are now going to be in nine states and they are continuing to target those underserved areas, particularly in the south and they're expanding into mississippi this year. so they say they are continuing on their mission and they think longer term, this is going to prove right and investors aren't going to get it. carl >> some fantastic coverage today, bertha. whether it's google health or clover, that's bertha coombs thanks if you missed part of the show don't forget to follow the podcast. listen any time, anywhere wherever you listen to podcasts and "tech check" is back in a moment flexibility, but we lose control. should we stay, should we go? ♪ ♪ ♪ darling you got to let me know, ♪ ♪ should i stay or should i go? ♪ we have tons of data at the edge, but we have to act on it in real time.

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call for a free wellcare guide today. grocery delivery insta cart announcing its delivery of ai-powered shopping cart and smart checkout platform for about $350 million i caught up with instacart ceo saying that its smart grocery carts go right into stores that are being tested versus what amazon is developing with its go technology she said that that requires retrofitting of stores and significant capital investment

i also asked seema about post-pandemic and she pointed to the companies which she called a new resting heartrate. >> we are continuing to grow and we are a new resting heart rate post-pandemic and that shows they're up to state, and it wasn't a one-time bump and it was people realizing that there is a lot of value in getting your groceries delivered however, we also think that, you know, people are also going to continue going to stores, obviously. your main grocery industry is 10% penetrated and you will grow to 30% in the next five to ten years and there will still be 70% of shopping online. >> and the competition growing from the likes of doordash and uber seema telling me that instacart is the renewing contracts and the different shading of those names by not competing directly

with grocors she told me the former ceo and founder told me before the exact same thing that they want to go public at some point it's not the most important thing to them, but you've got to start to wonder if that window you saw, some of the names, doordash and airbnb saw the numbers and instacart may not be able to do that in a post-pandemic world. >> carl, i wonder how they'll set up the narrative ahead of that potential transaction and that's usually what executives try to do and here are the numbers and trends that we want you to look at we'll check the resting heart rate as it proceeds. >> meanwhile, i want to get a final check on cloud stocks and mostly higher today and extending their significant outperformance and one of the etfs is skyy trading at the best pace since last november

including coopa and cloud flair we mentioned flair, a fresh all-time high today and was in cramer's radar, today. tonight, netflix and ual before things start to continue to heat up tomorrow as well with verizon and biogen let's get to the half on this anniversary week let's get to the judge ♪ ♪ carl, thanks so much welcome to "the halftime report." i'm scott wapner the rally in stocks, four straight and counting while brad guester in is with us and the investment committee here to debate your money's next move. joining me, stephanie link, jim looken that will, josh brown, jon najarian co-founder of market rebellion let's go to the wall we are about a percent away from a new high on the s&p. a big week of earn suggests rolling on we have gerstner coming on