headlines. >> up 1.6% after, of course, a big down draft yesterday you've got stocks up, treasury yields up, gold's higher, oil's higher and bitcoin is up and volatility is down and dollar basically stable under a little bit of pressure that is going to do it for "squawk on the street. "techcheck" starts now. good wednesday morning, i'm john quintanilla we did the good and we did the bad. why our first guest this hour says some stocks are now in for the ugly later on, two huge names in the cloud, exclusives with the new ceo of aws and microsoft's head of azure d. >> we'll start with salesforce

lower this morning thank to weak guidance also big news out of the suite brett taylor being promoted just one day after being named of the board of twitter this is the second time marc beniof all of this coming as cloud names have taken a recent step back check out the computing etf down more than 10% over the past month. crm down 12% over the same time frame. guys, a interesting not totally surprising but putting brett taylor another technologist at the head of a company which we saw with jack dorsy at twitter and, of course, john, here in san francisco salesforce is the sort of sales and marketing beast. dreamforce some criticism perhaps it wassant as good on innovation. so, perhaps taylor helps on that product development side and attract more engineering talent.

>> i think beneath the covers it's a tough case to make given all that salesforce has accomplished over the last decade plus. beniof leading the way in the revolution, similar to how aws led in the infrastructure. what a week for bret taylor. how often do you see the chairman of one company and ceo of another i wasjust talking to him a couple months ago right ahead of dreamforce about his background. you have to remember, this guy who was recruited out of college to google by marissa mier and had a big impact making google maps there with the team and then friend feed which is the early social feed company. felt like a failure at the time when facebook bought it and then did quip which salesforce bought certainly has not sloweddown, carl, on the innovation front and now some big executive responsibilities >> they took pains at least on

twitter last night to show the relationship between the two of them, john meanwhile, as for the guidance, b of a says probably conservative the company generally beats by bigger magnitudes in q4 at least historically so b of a maintains a buy with a 360 price objective. but we'll keep that in mind regarding the guidance >> all of this as the company continues to talk about the digital headquarters in a post-pandemic hybrid world shares down 6% and notably, too, john, the stock has underperformed since its slack acquisition which puts it into greater competition with microsoft. as you talked about his background being at google and facebook, company in a good position now with him as co-ceo to sort of take on those bigger rivals >> see what they can do. for now, let's turn back to today's market action. stocks rallying after a dramatic selloff tuesday. senior market mike san ttolli he

to tell us what is going on. roller coaster going back up. >> the riskier sectors of the market leading this rebound and you mentioned the salesforce weight on the market and on the dow, as well as on the software group. it's part of this big give back from software over to semis in technology over the last month 20 percentage point spread in performance between the software etf and semi etf look at the five year and implicit bet on software has been built up in the market here for a while. that's the igv up 282%. obviously, the stock has outperformed mostly recently the other thing that is fascinating if you look at the individual charts of microsoft, adobe, it's the same chart it's almost been all of the mega platforms just gone up in unison and it does show you that basically that's been where the source of the impetus for the overall market look how modest the s&p 500 and this is the s&p 500 excluding

the tech sector. it's a very thinly traded etf and thin benchmark of what the market would look like keep in mind this does have amazon, tesla, alphabet and doesn't have apple semis and software in it arguably a little more to be given back in terms of overall strength in mega cap software and semis. we'll see. we could have said that at any point in the last five years, carl >> mike, meantime earlier today we got word out of schwab that nu month of november the option contract and the busiest month of trading in the history of the options industry i wonder what kind of bet do you think that puts underneath the eq equities >> it is this trend that is building up certainly since march or april of last year. i don't think that simply seeing record levels on a given month necessarily tells you that retail investors are just too overexcited for this bull market to last because there's been a

secular increase in the ratio of options trading versus trading in the underlying stocks at some point, it does get a little bit overdone. we have seen it go in the stampede higher, for example, in nvidia and just blasting these individual stocks higher so, it could cause for a little more of a market where the tail wags the dog where what is going on in terms of the leverage options market does seem to be driving the underlying stocks and posted the other way around but i don't know that necessarily the fact that you saw all that volume in a month where it actually ended up down is necessarily going to be the directional driver of where we head from here >> you see that meme behind you right now, mike? >> there it is >> you see it. >> apparently you can. we'll see. >> we love leading with mike >> i was next to a screen saying not hard to get. i think i have to get out of the way for a while. mike, thanks mike santoli let's stay right there that sellout triggered by some comments by the fed chair yesterday.

our next guest says that testimony was the disclosure of a colossal blunder from powell who has been critical of powell and the fed for a while now. sven, what did you make of yesterday? >> it was long overdue, carl a lot of pressure from a lot of voices asking the fed to taper in a very inflationary environment. and the fed used to claim to be data dependent and they ignored the data all year long that kept surprising them on the upside in terms of inflation and now caving to the pressure and the big implication for me here is that this was, you know, hidden emission that they'd overdone it. basically what i've been saying for a long time. they put too much liquidity into an inflationary environment and now they're trapped because they are maybe at risk here of having to press the foot on the pedal here would rather take the foot off very quickly and that can cause

issues while unemployment is still not at full employment and yet price increases have filtered significantly into the economy. >> markets up today on more signs of moderating prices what do you think that does? i know you've done chart work on the nasdaq 100 and we'll take a look at some charts but what does that do to year-end playbooks? >> well, you know, if you look at the overall indices like the s&p and nasdaq, you can say this was another little correction or pull back here in the less than 5% range but if you look underneath the hood, if you will, there's been absolute carnage in what's taken place by either the small caps down 12% and this was very aggressive so, there is, there are oversold conditions right now and i think today is a classic example when you get extremely oversold you see bounces. the question is to year end, obviously, besides the macro issues and how this evolves technically a lot of indices have dropped quite

significantly. >> sven, given what you said about oversold conditions particularly among small caps does that mean perhaps investors do have some place to go to at least somewhat minimize risk i mean those oversold stocks, are they now looking more attractive valuation wise perhaps than overall indices, the large indices anyway would suggest? >> yeah, i mean, we're kind of short term at least bullish on the russell. we were bearish on it in november when it really spiked above the previous range and it got completely overbought and now it got oversold. but, you know, i'd like to caution everyone what we just saw in the russell was quite amazing. 12% drop from all-time highs in november 8 in three weeks. the russell has only done that three times previously one of which was march 2000 and the other august 2007 when bubbles started to crack this was a very unusual reversal

in the russell and what happened with a lot of these indices and the dow and the russell is that these breakouts that we saw above previous highs of the summer and the fall since potential trapped supply up there so that will be resistant so people need to be aware of that >> hey, sven, it's deidre. i just wonder if it's too early to call fed chair powell's commentary a colossal blunder if the fed did this in a way that didn't rattle markets and we're up on the down nearly 500 points today and yesterday had to do with omicron, as well. what would it actually take to see a sustained selloff and is it too early to make that verdict? >> well, let me be clear the colossal blunder was not him admitting that transitory is now retired. it is the fact that he insists on transitory for so long while the data clearly showed that inflation was much more significant problem.

you know, the issue is now all of a sudden he says it's a risk to the economy well, you know, that's kind of been bernanke saying subprime was contained in 2007. they were literally behind the curve and the risk is now that they have to play catch up >> we're going to find out whether or not this pivot is going to result in action, probably not too long from now, sven appreciate it. good to see you. >> good to see you, too, carl. ceo is next plus the ceo of aws and microsoft's head of strategic growth issues in the cloud. big hour of "techcheck" just getting started.

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comcast business. powering possibilities. first trading day of december we talked about how good a month of november was for the chip stocks up 14% in a month has now gained 43% year to date that's a massive move for a big etf. take a look at a few of the specific names you can see why qualcomm is the top gainer on

the s&p and nasdaq for november. up more than 35% followed by amd and nvidia rocketing higher among supply constraints and growing demand one chip name that did miss the rally, intel trading relatively flat for the month and now just $5 billion in market cap away from being eclipsed by amd in total size and that would be a seismic move, d, if it happened. >> significant move, too, for the landscape. one that has kind of been a long time coming. turning to box now the stock is up nearly 10% this morning after a beat on the top and bottom lines the company also reporting a 25% yearly boost in billings and remaining performance obligations. up 13%, i should say joining us now box co-founder and ceo aaron levie. great to have you with us this morning. good morning your shares are surging adding to this year's outperformance, but even with the nearly 50% year to date gain, box's valuation remains well below some of its cloud peers. what are investors still missing

in this story? >> we had a fantastic year and appreciate you noticing a lot of momentum in the business we have successfully reaccelerated growth three quarters in a row. we just guided up for our q4 and full year both revenue and operating margin and operating income targets the performance in the business is incredibly strong right now and just getting the message out there right now that the box content cloud is being used by over 100,000 customers to power their digital transformation and how they manage and secure all their important content and we think that is starting to get reflected in the stock >> your growth is something that activist investors had taken issue with and earlier this week we saw jack dorsy step down as twitter ceo. he had faced pressure from elliot management. we won a proxy battle against starboard. have you done enough to get box back to growth have they backed off and calling for you to step down are you still talking to them?

>> can't talk too much about the conversations but we were really happy with the shareholder vote. obviously just earlier in the fall and shareholders, obviously, overwhelmingly voted for our board of directors we remain collaborative with all our shareholders and we want ways to improve the business and in areas of capital allocation and what not we just announced that $200 million share purchase program in the earnings call yesterday some of that was driven by feedback that we heard from shareholders we will continue to be very open and collaborative with all our share holders and now that we'r executing on is very successfully playing out for both the company and shareholders >> hey, aaron, good morning, it's john. so, a couple of interesting things to me about your quarter were the deals, volume of deals above $100,000 up 56% year over year and adoption of suites.

give us color on what is driving large-deal adoption and perhaps bigger wallet sizes for you guys and how sustainable that is, how much your salesforce and partnerships have to do to keep that going. >> yeah, i think as you folks have seen and, obviously, the broader market has seen a number of massive trends happening in the technology industry that is now affecting the global kind of workforce and enterprise adoption patterns. so you've got hybrid work and digital transformation and cybersecurity challenges that every large organization is facing so when you think about those three challenges, content sits at the center of how companies are going to be able to work in the future it's how you share your media assets or contracts or financial data companies are looking for modern solutions to help them manage their most important content and that's where the box content cloud comes in so, we saw incredibly, you know, healthy demand in q3 as you

noted. 56% growth on our $100,000 deal segment which is representative of, again, a healthy portion of the demand that we're seeing in box and that's driven by enterprise making strategic bets to manage their content in a more secure and scalable and broader way through their organization and that's where box. >> several different ways that customers have to deal with that content. i mean, adobe, for example, got their own cloud and storage capabilities attached to their apps sometimes you guys end up in a menu next to one drive dropbox and others strategically, what can you do to make sure that you're either the primary choice or maybe even that you get locked in with that customer before that drop down or really not a drop down but that menu choice happens because you're in the lead on a relationship >> yeah, it's a great question this is really where the strategy has transformed over the past couple years. when we launched the company, it was about secure sharing and

collaboration. then we expanded into content management and data governance and data security and over the past year we expanded the vision even further so, our content cloud strategies to power the whole life cycle of content from the moment that you ingest your data to automating work flows and securing content. we just entered the esignature market which we've seen tremendous early adoption and we're going deeper in work flow automation and ultimately our platform then can integrate with every other technology that our customers are leveraging whether that's salesforce.com, slack, microsoft teams, zoom, webex, ibm technology and many more >> finally, aaron, i loved your retweet about the trend of tech ceos who were immigrants and raised in india and now twitter, palo alto, adobe, microsoft. i wonder if that will move the

needle specifically as it's aimed towards tech >> it's a great point. i think it's incredible the leadership that we've been able to build out in the tech industry on a talent level, on an innovation level and i do believe that america is going to make immigration policies are actually holding us back from the true potential that our country could have in leading the tech industry and leading on an economic level over the next couple of decades and beyond and if you look at our immigration policy in particular, h1b visas representative of this challenge. the number of visas that are allocated every single year has been the same for the past couple of decades and yet the tech industry has expanded tremendously in those couple decades. we are fundamentally squandering one of the most important assets that we have in this country which is innovation and a very, very robust economy. i'd love to see policymakers start to step up and address this issue because all it's going to mean is that we are

going to lead in the economy and decades from now if we don't get ahead of this. >> aaron levie, thanks for your insights we'll talk to you again soon >> thank you, see you. >> adam selipsky on the other side of this break more "techcheck" in just a more "techcheck" in just a momentize. ed instant match instantly momentize. delivers quality candidates matching your job description. visit indeed.com/hire

welcome back to "techcheck." stocks are higher after yesterday's dramatic selloff highs today right now dow up 503 and semi conductors helping power the nasdaq higher. julia in a moment has a look at cathie wood's big bet in just a moment but first a news update with rahel solomon >> here's what's happening at this hour. exxon mobile is laying out a plan to double earnings and cash flow over the next six years exxon says it will keep capital spending well below prepandemic levels and also spend $15 billion on emission reducing

technologies merck share getting a boost this morning an fda panel narrowly recommending emergency use of merck's covid pill for treating high-risk patients it paves the way for the drug to be available in the u.s. before the end of the year. moderna shares meantime plunging more than 8% after losing a vaccine patent case and shares are now up 50%. could sue for vaccine royalties if the patents are upheld. capital one ending consumer overdraft fees the largest u.s. bank to do so consumer advocates have been pushing to end the costly fees for years. capital one says that the move will cost it $150 million a year in lost revenues you can head to cnbc.com for more details on the story. carl, i'll send it back to you >> rahel, thank you very much. as we said earlier stocks are snapping back rallying sharply today. another update on the fed share and treasury secretary from our

steve liesman. >> day two becoming a capital and monetary policy debate republicans worked to pin the current inflation on biden administration spending policies democrats blame the pandemic and accuse republicans of ignoring strong economic and job growth. well, what about fed chair powell he was urged to stop all asset purchases by one republican lawmaker to address inflation and here's powell's response >> price stability one of our two goals and the other being maximum employment we had to balance those two goals but i assure you we will use our tools to miake sure the high inflation does not become entrenched >> powell as he often does agree with both sides. he says the economy is strong and the u.s. has a faster recovery than other countries, but he acknowledged that fiscal spending does play a role in inflation. he also said that he's watching

wages carefully. >> on wages, we have seen wages moving up significantly. and at this point, of course, we like to see wages move up. everyone likes to see wages move up that's how incomes rise generation to generation and particularly at the lower end of the wage spectrum we're seeing wages move up. at this point, we don't see them moving up at a troubling rate that would tend to spark higher inflation but that's something we're watching very carefully. >> not much additional information on powell's important comments from yesterday's hearing but he hasn't walked it back in any way at all while he said inflation is expected to come down next year, the fed can't act like it's sure that is going to happen. john >> steve liesman, thank you. now, let's talk some cloud new custom chips, private 5g and more cloud adoption in realtime financial services amazon web services holding its tenth annual reinvent conference

in las vegas and those are a few of the headlines i was there on monday to kick off and spoke with aws ceo adam selipsky aws, of course, created the modern cloud infrasftructure movement and asked selipsky where chips fit into his strategy for aws >> on the silicon, when we started with aws, it was really general purpose and as the years went on, customers really came to us saying we want to do very specialized things and we want machine learning workloads, we've got database workloads and we have highly compute intensive workloads. so we said we have to get all the way down to the silicon to make that happen we released gravtiton and graviton 2 and this week we announced graviton 3 and the first instance is the c7g

instance that has 25% better price performance than the similar instances based on the previous generation graiton2 these are really important material advances in price performance and customers just keep demanding more and more and more and we're just loving that and going to continue because it's not only the graviton, we also have new instance tied from machine learning which is going to provide real boosts and price performance compared to gpu based instances. and then the new trainium chip which we announced this week, as well, again, really exciting it's very, requires really strong performance and can be quite expensive to actually train machine learning models in the cloud. and the chip which is going to be in a series, as you would

imagine, of these two instances is really going to offer the best price performance on ec2 in the cloud for training machine learning workload. inovation is just going to continue there >> how much are you staffing up in that particular area, the engineers that you need to continue to power that process forward? >> we have staffed very significantly and done it organically made important acquisitions in that space and we've only added more resources steadily over time really for one simple reason because customers have been using those chips in the instances that they're in and they keep demanding more so, we really see currently i would say almost insatiable demand for new instances powered by a new chip with even better price performance. so, i think we're frankly just getting started there. >> to what degree is inflation playing out in the cloud historically prices have continued to come down, for what you offer in the cloud that seems from where i sit

continuing to happen but certainly there are inputs that are getting more expensive how is that trending and why >> well, just to speak for aws, i think you'll see other providers doing different things we always believed in really innovating and working really hard to lower our own costs and then turning around and passing those cost savings on to customers in the form of lower prices and we've actually cut prices in aws, i think, 111 times in our history and including just in the last week and this week we've actually announced new storage classes for things like s3 which for certain workloads will significantly lower the price of storing data. for example, data that you don't need to access very often but when you need it back, you need it back really quickly and that will be very cost optimized for s3 that is not counted as a price reduction. just a new offer which makes it

cheaper for cost. >> marty: with the new use case. we will really continue to innovate and i think if we do our job, the invanovation on ou cost structure will dwarf any effect we will continue to see us lower prices for customers >> how does 5g fit into the overall strategic direction that you're heading in. i think you've got some announcements that are focused in that direction, particularly in private 5g net, works. >> 5g is a disruptive set of technologies and change a lot of aeroi offerings to end users and consumers with mobile devices. so, we're doing a lot. one thing that we've been already announced and been at for a while is working with telcos to essentially help them embed 5g services at the edge of their networks we have services such as wave length, for example. where those aws technologies

actually embedded in the wireless networks and are enabling 5g services and we're partnering with dish who is trying to build the very first completely natively in the cloud 5g network and we're their partner with them and then equally exciting this week as you alluded to, we announced a private 5g, which is the new service which gives enterprises the ability to deploy a private 5g cellular network inside of their factory, their operating facility, a corporate campus or an office. and it's both a lot simpler and a lot more cost effective than existing technologies such as wired or wifi. now we're making it really easy, to, to set up and deploy and manage these private 5g net, withes and order the hardware ad you plug them into your devices and pay as you go. we're not charging you per

device or anything like that i think it is going to be rapidly adopted and customers get a ton of benefits from this. >> i also spent time with nasdaq ceo adina who announced a partnership with aws even the matching engine at nasdaq is moving the cloud technology which arguably marks a new era. >> so, the matching engine is really where the trade actually crosses. right. an order turns into a trade. just to give you a sense of the scale and the scope of what we're trying to achieve here, our matching engine has 20 microseconds and order a trade occurs in 20 microseconds and in general on any given day we process about 3 million messages a second it's a high resiliency platform. what we've been working on with aws over the past two years is to build an ultralow that can be deployed using aws outposts. so, we're going to turn our data center into a private local zone

with aws and then migrate our first market to the cloud in 2022 >> so, a lot of people when they think about the cloud, they think well that means that your technology, your equipment isn't with you, it's out there somewhere. but really what you're describing is amazon's equipment sitting in nasdaq facilities, which i guess is necessary to achieve that really fast ultralow latency experience that you need >> right several parts of our ecosystem that work really well in the public cloud and that we've already moved to the public cloud. we have $650 million of sass revenue and multiple products that we deployed completely in the cloud and then we also have our trading systems and as i mentioned the surrounding systems are already in the public cloud when it comes to the matching engine, which is the biggest challenge, that's where we want to bring the cloud into the data center >> watch the full interview with adam selipsky where he talks

about his experiences and playing sports informs his leadership today and also the one with adena friedman you can catch that on the twitter handle @cnbctechcheck and linkedin page but, d, what i came away with from this reinvent is that between the chips and price performance with gravi ton3 anda big bucket of revenue in private campuses that they're looking to disrupt and then some of the other sorts of deals that they're doing and we're seeing amazon outpost which is where they take their cloud-based equipment and place it in a customer's data center for lower latency. this is what is going to have to play out in order for those growth multiples in so many cloud companies to play out and be justified and they're putting some meat on the bone here >> yeah, two questions for you, john what sports are adam selipsky still playing?

>> i wouldn't say still playing but a great story about wrestling and how he learned from that experience he's a good wrestler, apparently >> i was curious if it was hockey with a new team but my actual question for you i found his comments on amazon moving deeper into deep design really fascinating and this is an area we talked about intel's future to move deeper into the foundry business would an amazon go to an intel if they were equipped to do so and manufacturer these chips versus say a taiwan semi so, could amazon and other tech giants designing more of their own chips actually be bullish for an intel eventually? >> well, matter of fact, aws is actually the first deal that intel has in this regard and i talked to selipsky about the strategy overall not just custom design, it is also cooperation with not just intel but also amd and n vvidia, carl they have a strong slate of technologies to bring it to

market and some of it is cooperation and some of it is competition. >> hypercompetition is what is amazing to watch, john and the price that flows from it what an incredible event and good coverage from john there on reinvent meantime, november, as you know, a rough month and worst performance since march of 2020. despite the dip cathie wood doubling down and buying strategies and watch the latest bull call next stay with us

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twitter shares hit their lowest level since november of 2020 cathie wood is finding value there. >> that's right, carl. cathie wood's ark investment bought 1.1 million twitter shares after the close stock lost 3.4% the day after jack dorsy stepped down as ceo and cto. wood talking about her latest move with our sarah eisen this morning. >> we like under his leadership what they're doing from a montoization point of view we love twitter's positioning as a verification platform because we think that is going to become huge with nfts

the verification is what is going to make nfts valuable. >> wood is betting on twitter after the stock has lost nearly 30% over the past three months and the stock is up only 10% since twitter went public back in 2013. the concern now is that the company won't be able to hit its aggressive user and revenue growth targets that it set for 2023 and a lot is riding on new products that were developed under agrawal's watch to describe top line as well as user growth. some include topics to make the platform easier to use and to create more personalized ads also ecommerce capabilities. twitter just partnered with walmart for its new live shopping feature and then finally subscription services including twitter blue which was just launched here in the u.s. now agrawal along with bret

taylor both got a blessing from activist elliott management. guys >> we'll see how long it takes to bear some fruit meantime, a settlement between match group and those tinder founders. >> that's right. this is a case that has dragged on for years the trial was under way and it was going to be going to a jury at the end of this week and the last minute they struck a deal $441 million that's how much is going to be paid and it's going to be covered by match to the defendants that part will be paid and the settlement would be paid by match and they say paid with cash on hands and the two defendants are not admitting fault in this deal, which is fascinating to see how they were looking for $2 million they're settling for 441 kind of remarkable considering how much money has gone into this case as it's dragged out over the years, guys

>> do we call this alimony, settlement thanks "techcheck" is back in a moment hi, my name is tony cooper, and i'm going to tell you about exciting medicare advantage

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let's get a gut check on doordash shares are down more than 8% since the start of november. haskt takes the name to buy this morning. 217 price target as they call the recent pull back and big gains ahead of any given omicron related shutdowns in the future, carl >> what do elon musk and jeff bezos all have in common they are selling stock and a lot of it. our robert frank is here with those details. hi, robert. >> good morning, carl. not just a lot of stock, but, in fact, record amounts new data from insider scores shows ceos and insiders have unloaded $69 billion in stocks so far this year that's up 28% over last year's total and 80% over the ten-year average. we're going to see even more sales in december since that tends to be a big month for tax selling. a lot of this is being driven by what i call the super sellers.

elon musk now up to about $10 billion in sales this year about half of that going to those options related taxes. the other half just for straight cash now, bezos also at about $10 billion for the year that's actually flat with last year but five times his 2019 sales. and the waldons of walmart big sellers at $6 billion followed by mark zuckerberg those four sellers according for nearly 40% of this year's total. satya nadella sold half of his microsoft stock last week. the sales were for personal financial planning and diversification purposes but another unsaid reason for all of this selling is taxes, along with the threat of higher federal taxes. washington state is about to impose a new 7% tax on capital gains. that starts january 1st. nadella saves $21 million in taxes by selling now jeff bezos saving $700 million

so we'll see whether the gates or some other people who live in washington who are wealthy are going to do a little holiday trimming in december, as well. >> yeah. plus christmas shopping, right,l >> yeah. plus christmas shopping, with inflation and everything, we'll have a little extra change >> that's right. they need the cash >> apple shares just touched another all-time high, top gainer on the dow for november and rallying over yesterday's sell-off and have you mentioned the week we just heard from aws don't miss microftso's jason zander we're back in two.

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>> welcome back. as our cloud week coverage rolls on, i spoke with microsoft executive vice president jason zander yesterday just named head of microsoft's new strategic missions and technology group which handles large customers including u.s. federal, emerging quantum technology reporting to satya nadella. we talked about how he sees customer demand shifting in light of the omicron variant and how he says microsoft's multicloud strategy differentiates them. >> i talked to cxos all of the time, and i will tell you the top things that are on their mind include hybrid work trying to figure out with the new variant coming through and how do i manage that and make sure that that works. multi-cloud strategy is top of mind to make the right set of

solutions from all of the vendors that are out there in addition to cybersecurity we've never had a more enhanced threat landscape that's out there. if you're sitting at the top of an enterprise like that, i had to let those things go i felt good about the overall portfolio. >> talk to me about differentiation how microsoft looks at azure, microsoft 365, office 365, dynamics and the competitors that you have as hyperscalers don't have the same kind of portfolio that they bring to market. so how do you use that to make the argument for why microsoft is the way to go >> microsoft has the most trusted and comprehensive cloud solution and the microsoft cloud of anybody that's out there. that's a statement of breadth. that's a statement of the offering we have infrastructure, of course we have to have that we also have advanced pad solutions all of the way up into

the size of the applications most recently we pulled that up as well as other new cloud offerings and the growth speaks for itself we surpassed $20 billion of revenue. that's a 36% growth rate and on top of that, azure group by 50% which size a product guy, that means i'm solving the right problems. >> a little shade there if you're looking for it. you can watch that full interview, and he talks about building out microsoft cloud for health care, retail as well as manufacturing again on our twitter page on cnbc tech check, as well. >> great stuff, john and we're only half way, and if you want even more you'll get it very soon crowd strike, snowflake reporting results in just a few hours and catch the latest on tech check including theeo cs of ogden and snowflake. we are back in just a moment

as you may know by now, tech was the big sector in the month of november and it's off to a good start in december apple up 2.5% and that's an

all-time high and the chip name, amat, micron, mxp and marvel among them we'll get numbers later on in the week, dee, as cramer suggested we'll be leaning heavily on semis if we'll get any kind of year-end meltdown. >> we are seeing the re-opening plays. airbnb is up nearly 2%, carl i know you saw that tweet about the home alone house being available and it's only available for one night for 25 bucks and this is part of the marketing campaign of air bnb. i know they had sex and the city, but it could be a good season for them if travel plans stay intact. >> who had what now? are we talking about airbnb and snap, i'm watching, it is up almost 6% this morning and an interesting point, just barely in the green year to date, carl, but quite a surge right now. still up 13% over the past 12 months, but it's been a rocky ride >> overall, our market's been

supported today by the moderating prices that we saw in the ism print earlier this morning. we'll get another one, of course, later in the week. jobless claims tomorrow, and all of it leading to the jobs number on friday which has big implications for everything we heard this week from the fed chair and the treasury secretary. let's get to the judge and the half ♪ ♪ all right, carl. thanks so much welcome to "the halftime report." i'm scott wapner front and center this hour your money in the final stretch of the year whether we can still have a big rally or are there simply too many risks? we debate that with the investment committee joining me for the hour today, stephanie link, kerry firestone, joe teranova and cnbc's jim cramer, he is the host of "mad money. it's good to have you here, as always. >> thank you >> let's check the market, and big bounce, 345 points and that's 1% and s&p better than one and there's the nasdaq and everything across the board is having a nice bounce it was down, it wa