for share buybacks. >> okay. all right. great. brin >> viacom. taking the market share i think from netflix three deems on their hands. >> and diamondback energy. if you think oil and natural gas prices are headed higher, this is the one. >> got to go jim, go ahead and then weiss. >> alaska airlines. >> semiconductors. >> ceo coming up, of alaska, coming up in about 30 minutes. don't miss that on "the exchange," which starts now. yes, he is thank you, scott hi, everybody. i'm kelly evans. a roller coaster 24 hours since the fed's meeting yesterday. futures plunged last night and stocks surged and then the s&p went negative. back in the green a little bit nasdaq on pace for its fifth straight down week and my next guest warns tech is still not a good buy he's here to explain exactly

what he means by that. plus the case for commodities. looking at five tailwinds that could give the group a long-term boost and apple, robinhood and caterpillar reporting earnings actions, story and trade on all tree dom here with the ever-moving state. >> crazy early morning on worldwide exchange today kelly, we came in at one point overnight session, nasdaq down 2% rallied back to positive opened up strong to give you an idea, nasdaq composite at one point today was over 200 points higher now 24 points lower. may seem like a modest loss but the swings continue that trend of being pretty wide throughout the course of any intraday session, if you include futures even more so dow jones industrial up 100 points one-third of 1% gained and s&p up .1 of 1%.

keep an eye on those with regard to the trend developing in a short year so far. very young all about energy oil prices on the world benchmark, brent crude gauge hovering near seven year highs pullingak a little today however powered that energy sector to a near 18% gain in the s&p. meanwhile, down 9% overall s&p and down 14% for consumer discretionary. worst performing sector due in large part to tesla and amazon's underperformance so far first three or so weeks of this year want to look at some place a little more mixed, and t tug- tug-of-war, financial technology fintech company. paypal holdings, by the way, underwormer this year, up 1.5% intuit up 2.5% block, formerly known at square, down 3 to 3.5% and so the theme here is all four of these stocks, kelly,

have been severe laggards so far this year yet trying to figure out traders and investors now. where to place bets. is tech a buy now? see whatting back to you. >> dom, thank you very much. tech stocks now ready to down more than 10% this year my next guest warns stay away. more down side to come and more up side ahead with interest rates. ten-year treasury yield surging over the past month as the fed turns more hawkish joining me, vice chair and head of investment group at aerial investments joining me from the library with the candlestick the vibe i'm getting today good to see you. what would you include pretty much everything include be the mega cap? >> startby pe, by profitability, in relationship of price to that profitability. reason is that a name like apple is not as badly out of provides, out of whack, as a company not making any money the next ten years, because of discount

rates. if you have a company making a reasonable amount of money today like apple is, discounts rates don't have as big a affect on it a company not making cash next ten years all earnings 20, 30 years from now, a huge problem with interest rates going up. >> take the example service now. a lot of bright spots in the tech space today actually. service now, cloud company, work flow, data services, up 40% year on year best since 2018, pre-pandemic comping on top of already strong growth not a sign parts of tech are experiencing a secular increase, sustained increase in demand to support these valuations >> sure. a lot of these companies are growing nicely as i've said to you before some of these are very good companies, just not good stocks. i haven't done valuations on that name, but there are going to be, going to be a lot of names that are going to grow

that are going to maybe even go from losses to profitability, but they're not trading at reasonable multipling of that profitability. there are exceptions, absolutely come up with some, but broadly speaking, the nasdaq is still trading at very high numbers love jim cramer. one of the best people on tv, but yesterday he did a screen based on names trading at less than 50 times earnings 50 times earnings. that's not reasonable. too high a price. >> fair enough, but look at some of the highest grossed companies over the past decade multiples started out at 100 and netflix did grow into that multiple eventually. >> exactly right a wonderful time to be a tech investor why? for the last ten year, kelly, ridiculously low interest rates. lowest discount rates in the history of the united states as a country. that sounds like hyperbole it's factually true. never had a ten-year treasury

below 1.5% before the last few years. now returning to more normal interest rate we'll have more normal discount rates and those companies making money in the distant future are going to get brought down to earth. >> talking 3% to 4% on the ten year not almost 2% everyone's excited about. talked about your picks, those who haven't heard before viacom, cvs, madison square garden, holding company for apache places you recommend investors look one more question about rates if i can. macro question as we've seen the response to a hawkish powell in response to a strong economy and pretty good employment situation, the yield curve is flattening. what do you make of it >> yeah. almost given up trying to make sense of the bond market, which is accepted negative real yields and should be going up much higher i will say that you have to think of the bond market as more of an insurance policy than eastern maybe an asset class

investable asset class as you're saying we have the curve starting to look like this and now starting to look like this 2s to 10s. flattening out mostly trading phenomenon and hedge fund phenomenon but not great for banks, which do better in a steep yield curve the 2s to 10s, flattening is not great for some of my value stocks. >> yeah. market's about to go negative, the dow again here, charlie. as the s&p turned negative, and a tough month, what are your parting worl ing words of advic? >> inflation, inflation, inflation. money supply up 40% from two years ago. call powell hawkish? can't have powell and hawkish in the same sentence. they are continuing to increase the money supply we are going to have inflation for lots longer and a lot higher than people think and you have to invest accordingly. >> all right charlie, great to have you here today. thank you so much. appreciate it.

>> thanks. on that note, remember that big spike we saw during chair powell's press conference yesterday? ten-year shot up to 185? as of now come back to where we were before that decision even came out around 178. rick santelli out at the cme with more on rates including results of the seven year top of this hour. rick >> yes let's start out with the seven year quick gave it a b-plus mainly because it had a bit of a tail unissued market a bit lower than actual yield came out but not much all other metrics very good. above average. one outstanding. it's the buffet table metric dealers only took 14.5% of the auction which means investors took the rest. smallest number since jan of 2018 and the like golf, smaller is better. go to the markets. kelly is absolutely right. not only one maturity they has a yield higher than yesterday's close. that's a two-year note

three, five, seven, ten, 30, higher in price, lower in yield. see what i'm talking about giving up ground, but holding on better than the other maturities look moving down the curve two day of ten left side, right side. look at two day of 30s how much lower right side is curve flattening in action, and right now tens to twos hovering about 61.5-ish probably the flattest right knew going all the way back to -- october of 2020 and you could see it on the chart there. why are we so concentrated on flattening yield curve because as the fed tightens, yes. short ma ewerty yield should go up, tightening direct control over that part of the curve. outside of qe, they're going to stop pt no control over the rest of it.

flattening, inverting, that's cause for recession. knee-jerk reaction of investors, you know say the r word we know what happens finally, 2fed fund futures life of the 2022 fed fund futcher end of this year simplest way to look at 9980 pricing 5 in lowest craft close outside of the first few days of 2020 for this contract kelly, back to you. >> it is a topsy-turvy environment now. thank you, rick santelli. some surprising collateral damage from the fed meeting yesterday. chinese stocks slumping to a nearly 16-month low ahead of the lunar new year holiday live in beijing with more and how officials are responding eunice >> reporter: well, kelly, the fed hiking interest rates is just another economic challenge for the chinese in an already

tough year so forecaster gdp growth in the range of 4% to 5% already slow for china and policymakers here have been grappling with a whole hosts of issues. tremendous slowdown in the property sector, you well know the traditional broke driver for china. continueddisruption of covid policy way on supply chain, manufacturing and consumption and now potentially have these u.s. interest rates coming what's interesting, of course, because of all of these challenges to growth, chinese have been moving in the opposite direction of the fed the pdoc cut oes rates this month and authorities indicating they'd do more to stimulate the economy. this mismatch is something that the policymakers here have indicated they are concerned about, becauser that worried especially about the potential for a weaker revenue and capital outflow.

in light of this we saw the stock markets here falling dipping into bear territory. briefly. through the official papers, the government has been messaging to the investors here to try to calm nerves, really talking up the fundamentals of the chinese economy and also calling on local funds to skip in the backbone they say of the market ahead of the lunar holiday even president xi jinping chimed in on the discussion saying central banks in the west should not slam on the brakes when it comes to policy. kelly? >> fascinating china also in the spotlight how it could, i don't want to say intervene, but as the crisis in ukraine plays out, the role it might play one way or the other here is increasingly under watch. >> reporter: yeah. absolutely chinese have been relatively quiet on the whole as to what they would actually do if there

were to be some sort of crisis, but we did hear from the foreign minister the foreign ministry said the foreign minister had a phone call with the secretary of state antony blinken in that phone call made an unusual move by saying to the u.s., they shouldn't hike up the crisis but also described russia's security concerns as reasonable, and said that they should be addressed. so it's still unclear exactly how far china would back russia, if there were to be some sort of crisis or invasion, but at the same time, what also is going on in the background here is that the russian president, vladimir putin, is supposed to be coming to beijing in about a week to attend opening ceremony of the beijing winter olympics really seen as a showcase for president xi jinping seeing the two align themselves

even more so against the united states. >> euneunice, thank you for your reporting from beijing. and outperforming equities second time in two years can they do it again plus alaska air slightly higher after reporting profit for q4 speaks with the ceo about growth plans and expectations to return to pre-pandemic passenger levels by summer. as we head to break, take a look at the dow with the dow leading today. intel biggest laggard. we're back in a minute. >> announcer: this is "the exchange" on cnbc.

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welcome back ill up more than 60% over the past year not the only commodity. aluminum up 60% and 12% year to date my next guest says there are several catalysts that can drive commodities even higher this year joining mean, morgan stanley chief commodity strategist martin, great to have you here good news for commodity investors bad news for everyone rye lying on inputs. right? >> true. the factor that binds everything

together is inflation. seen it pick up. historically great for commodities providing good inflation protection done so once again over the past 12, 18 months but also breaks. rates go up, long duration assets with cash flowing far out, equity sectors don't do well when rates go up and in deference, rising inflation, yeah, driving rates higher favoring over equities. >> and certainly they can have periods of strong out performance. which commodities in particular do you think are set up for a strong 2022? >> we think there's a very clean story in oil oil demand is coming back. haven't been investing for some time the oil price has already disconnect from the margin's cost of supply some time ago not what the oil price is about at the moment. oil price searching for the level for demand erosion to take

place. balance oil over course of 2022 we need. a price slowing down demand recovery that is a high price a price that's easy to estimate. we put it at $100 a barrel could be higher. but we're still in that part of the oil recovery, where it can go higher. having said that, though, pretty good fundamentals for nickel, iron ore, sugar, but play here >> aluminum, nickel, iron ore, what about copper? people are bullish about because of the energy transition >> the energy transition features, wide arc among the commodities. several commodities energy transition over the coming years will create very significant new demands. copper is one of them. lithium another one. gold, nickel other commodities particularly

fossil fuels where already today they are effectively a red flag for producers of those commodities not to invest. seeing them slow down investment even before the demand rolls over the energy transition is broadly supported across the commodity spectrum for supply demand tightness. and true to demand side or the supply side. very much expect copper will also be wrapped up in that story. but copper had a great year last year an ebb and flow. not our pick for 2022. medium to long-term absolutely right to highlight copper as well. >> talk about carbon credits, a new commodity class. had an incredible year last year structural support you think down side? >> well, look. it falls a little bit in the story of, there are structural trends, which on the whole across the commodity complex we argue of quite positive, but

then crick lival overlays and ebb and flow of the market last year environmental awareness, cop 26, tremendous amount of focus, having said that, though, nothing goes in a straight line. we forecast higher prices two to three to four years out. given the enormous run-up we've just had we think it's time for somewhat of a setback. >> all right so sugar, iron ore, aluminum, the american way and a few others thank you for your time. great to have you. >> my pleasure. >> with morken stanley. and still ahead, give you the action, the trade and the story on three key names ahead of results using robinhood to trade apple and dabb ilen caterpillar, say this addition of earnings exchange is made for you we're back in a moment. out oe benefits. what's the wifi password again?

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welcome back to "the exchange." check out session lows dow given up a 605 point gain at the open negative by 100 points. again, negative last night on futures. keep having 1,000 point swings in the market witnessing another this afternoon s&p down two-thirds 1% and nasdaq on a losing stream down 1.25% today. about a 400 round trip tesla the biggest impact on the nasdaq despite better than expected results stock down 17% in january. worst month since 2020 down almost 9% today see the rest of the ev space, lucid, down more than 10%. elon musk blaming supply chain issues the main factor saying on the call expect tesla to remain

limited in 2022 and as results no new models this year. chips, those giving up yesterday's gains after t smf, etf worse month since may of 2019. back to 256 today. end with spicemaker mccormick. earnings hitting a new 52-week high beating estimates shares rewarded saying partly upset by, you guessed it pricing passed along to the consumer record sales growth as well. nkc up nearly 6% to ra hell solomon for a cnbc update. happening at this hour, president biden praising justice stephen breyer for his 28 years on the supreme court breyer making it official he plans to retire end of the fourth term, assuming replacement confirmed.

president biden plans to announce his choice by end of february. >> the person i nominate, someone with extraordinary qualifications, character, experience and integrity, and that person will be the first black woman ever nominated to the united states supreme court. it's long overdue. >> saying four people are questioned after the death of six people found in a milwaukee due plax last weekend. investigators say multiple suspects targeted the six people but no motive released and no charges at this point. policing on trial. latest on the rare civil rights case of three officers involved in killing of jf jgeorgjesse ty ferguso ferg ferguson -- george floyd. and selling for $45 million. the man of sorrows long thought

to the painted by someone else painting last sold at auction in 1953 for just $26,000. kelly? >> the whole auction process takes about seven minutes, i hear. >> beautiful thank you very much. coming up, shares of alaska air slightly higher after earnings ed ceo joins us for an exclusive interview. talking about 5g and more with the stock up just under 1% back in a moment. >> announcer: cnbc trend trackers sponsored by, cme group.

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welcome back shares of alaska air triering to stay positive in an increasingly difficult time earnings beat positive outlook omicron made a dent in january and february bookings. shares up 11% for the year off on the 52-week highs joining us alaska air ceo along with our very own phil lebeau.

welcome to you both. phil >> thank you, kelly. ben, thanks for joining us today from alaska's headquarters in seattle. start first off, talked about the profitability in the fourth quarter and turning to profit. when you look at rest of 2022, i know this is a challenging first couple of months, but the rest of the year whshs do you expect things to really start to accelerate march and april? then what do you expect for the summer >> yeah. great to be here with you, phil and kelly. we're seeing a strengthening of bookings beyond present state and beyond right now our forecast for us to be profitable in march and in the second, third and fourth quarters bookings are picking up from lows in early january, and, yes, january and february will be hit hard with omicron. >> ben, talk about the cost impact you notice now. talked with a number of competitors. almost all say the same thing. costs an issue in 2022

whether it's wage inflation, fuel prices. how worried are you about inflation overall and what it will mean on the cost side of the ledger >> you know, we're always worried about costs, and, of course, labor inflation is one of them. we're looking now at costs especially in the second half of the year looking at our costs being flat to slightly up, our unit costs overall, always a worry, but we have a low-cost mind-set a high productivity mind-set and hope to contain those costs throughout the end of the year, but labor costs, fuel costs always a big issue in our industry. >> yeah. seen big pilot pay increases, ben. how many aircraft are affected by this 5 gg issue? >> made a lot of progress on 5g. a lot of fog here today.

and impacted by, regional fleet. 175, 62 of them. one airport in particular is one north of seattle we canceled almost 60 flights over the last week or so because of low visibility conditions still work to do gathering data from telecom companies and putting them in this faa model right now seeing impact with regional fleet but hoping it will get better. >> ben, listening to your earnings call. a question regarding corporate bookings, and your expectation i was struck by a statistic you guys threw out when it comes to your tech corporate customers that tech corporate travel is down anywhere from 70 to 90% is that more extreme than noticed with other corporate customers and just something speck to the tech industry i just, it struck me being a greater drop-off than we're seeing in other industries.

>> yeah. phil a great question. you know, small business we're seeing good pick-up in small business, and before omicron we had recovered to 50% or 60%. the bigger companies, bigger tech companies, because of omicron, and work from home and not returning to office, we're seeing a bigger impact from then a little slower there, but our belief is as we get past omicron, past to more stable environments, we'll see that corporate business travel come back so like i said right now in the 40% or 50% range and hope to be back to 60%, 70% range hopefully by end of year. >> one last question look at your fleet committed to converting to an all-boeing fleet. placed a big order fore737 maxes. as you filter those in and already have some in your fleet, what do you notice in terms of greater efficiency

>> phil, from a boeing 737 max, and a320 fuel efficiency on the 737 max great airplane pilots love it flying guests notice how quiet the airplane is. 40% more quiet in the interior and a great airplane for us. we have 13 in the fleet. a firm order for 93. 30 more coming the airplane is a big part of our growth strategy. >> ben, thank very much for joining us ceo of alaska airlines joining us on day he beat top and bottom line, kelly. we've talked with a number of ceos glad to have ben on today don't miss our interview tomorrow morning cnbc exclusive, on "squawk on the street" discussing what jetblue is seeing as it heads into the rest of 2022.

kelly, back to you. >> many different challenges they're navigating thank you. appreciate that. still ahead, supply chain snarls retail trading slowdown and new equipment on the way keys to watch and how to trade from apple, robinhood and caterpillar. down today and biggest laggards in the nasdaq tesla, intel, lamb research and we're back in a moment. we can h and needs a plan with a mobile hotspot. we cut to downtown, your sales rep lisa has to send some files, like asap! so basically i can pick the right plan for each employee. yeah i should've just led with that. with at&t business. you can pick the best plan for each employee and get the best deals on every smart phone. what if you could have the perspective to see more? at morgan stanley, a global collective of thought leaders

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welcome back time for an earnings exchange on today's docket, apple, robinhood and caterpillar. a bellwether for the market. street listening for iphone sales and services growth numbers. stock down 10% after touching that $3 trillion mark to start the year

can they have supply chain concerns and continuing surprises in tech? bring in julia boorstin and senior port follow yore for mia capital management, our trades today. welcome to you both. julia, apple a biggy. >> it's going to be a biggy and i think you laid it out exactly right, kelly the two issues here neither conflicting issues on the down side what is the negative implication, the negative impact of the supply contain strain and ship shortages the other part of the equation the fact apple tebnds to be better managing constraints than anyone else in this space pretty much and expected to be significant dmeemand for the ne iphone and new max watching momentum around those device sales specifically since apple isn't giving guidance to understand what the trend was over the course of the quarter i think analysts will be interested to understand whether iphone demand tapered off end of

the year or continued to be strong trying to understand if the demand was front loaded as an indication what to expect for the first quarter. of course, kelly, services, increasingly important piece of apple's business watching that as well. maybe commentary around wearables? digital, talk about augmented reality glasses in the works also things like the watch, and of course with the services business, what they see in terms of those trends. >> sure. the pes down, and what do you do with it? >> nice to be here julia's exactly right. all eyes on apple. we would, like everybody else, love a comforting report but nervous about a couple things. first, again, i point to julia's stance of, how they dogo through the quarter. see if it's true on commentary

on the call and leading to a weak march guide second thing we're a bit nervous about is services growth service growth not surprisingly grew hugely in the pandemic. well over 20%. street expects 19% service growth in this quarter we're expecting more 16%, 17% n that might disappoint. finally, apple deratio you just mentioned actually one of the most extended ones in the faang worrell. google, facebook, amazon down to an apple in next year's earnings a little afraid apple growing slower than those companies may be vulnerable. what we're seeing. >> make an interesting point about guidance, chris. microsoft, earnings, stock initially down cloud growth slowed to more than 50%. then in the call said, we think it will accelerate this quarter. apple, aren't they traditionally more conservative in their guidance >> that's true also, microsoft doesn't have the

issues apple does, supply chain. julia pointed ut all eyes on, could you get enough parts lots of parts for an iphone. were they able to conquer that done an enviable in the past see how they do this quarter. >> and constraints on apple, teradyne down as well. apple big customer see you in a little bit, julia boorstin on apple. and shares down nearly 70% just since their last release and 85% below the 52-week high is robinhood volatility, waning meme stock media. what can turn it around? kate rooney has the story on hood having another tough session, kate? >> right stock's below $12 today. analysts keeping an eye out they're diversifying from be a pure play stock brokers. and want growth in crypto.

rolled 0 ut wallets. progress on that side of the business and future for robinhood and what does this company look like five, ten years down the road? bull case has been this company could be a full suite of financial services for millennials and gen z. have to show it in quarters coming up. account numbers that are big, how many clients did robinhood bring in cuts down from, in the third quarter from the prior quarter that's been a down trend and looking for uptick there transactions based revenue still there the their bread and butter, how they make most of their money and guided lower revenue to on the quarter. expected a loss this current quarter and comps. in comparison, this time last year, this week really is that viral gamestop week. driving a lot of the growth ahead of the ipo haven't had many viral events or meme stocks attracting people to

the platform or things like dogecoin, cryptocurrencies hesitant to add. stock's really hammered the past six months or so a lot of negativity. any good news would be welcome here for robinhood investors. >> is all bad news in the stock already, chris >> you know, honestly, kelly, i don't know but i suspect not, frankly. i think that robinhood is really a poster boy for the age and the age may be ending. is it the house that memes built? we'll see. what i would be watching for in earnings is revenue growth, which disappointed in the third quarter. they need to squeak out at least some revenue growth to actually sell in the third quarter. all of this trading, most occurring now in january in the new quarter they can comment on that we ought to be seeing growth as the trading volume goes up if we don't, a real bad sign they're caught between a rock

and hard place if they don't have revenue growth they can't spend on all the new products they need to get out. tough place to be. sure wouldn't buy in front of the number. >> would they -- just saw ubs buy wellsfront about a billion and a half robinhood a lot bigger could an acquisition bail them out? >> yeah. that's been the rumor lately if pain continues for robinhood they could be an m & a target. slightly bigger. the robo advisors, wall street, never grown to even $1 billion in private markets seeming the norm in silicon valley haven't seen the type of user growth and engagement a nime like robinhood did although, used to be robinhood in more position to do m & a haven't grown revenue, haven't done much of that so have to prove they can stand alone here. too soon to tell i think on

"ay m & rumor, do they become a target mooshy middle. not small enough to be palatable but not the size they once were. >> leave it there. thank you very much, kate rooney and on to caterpillar, reporting tomorrow gauging economic growth here even in china. shares outperforming broader market one place to go if you want a nice 4% gain since january seema mody has the story >> closure of 2021 should have put an end to worries investors had around industrials supply chain issues and general electric revealed earlier in the week clearly haven't gone away the ceo telling me redesigning parts doing all they can on that front. 3m, focus on that earnings report on pricing power. offset concerns around supply chains, inflation affects and allowed shares of 3m to rebound.

the question now, when does caterpillar fit into all this? largest of the three screams shares out performers this year. a number of upgrades, citi to jp po morningen. jpmorgan fueled by construction and mining playing a significant role in the construction boom we've seen does a more aggressive fed slow that down? a question likely coming up on the earnings call. other thing, oil massive rise we see in oil prices over the past year helped caterpillar's energy and oil equipment business really outperform. what is the outlook there? could provide broader guidance for energy investors. >> a great point and different way to play energy if scared of energy stocks themselves chris, what would you do with cat? >> wait to see the number. we suspect there will be supply chain issues with cat.

kelly, i love talking about these stocks that, you know, make real stuff. don't have to talk about -- talking construction and mining, and energy, and my bet is their supply chain issue, but if weakness, buy on the weakness, because these cycles that seema talks about don't last a quarter or two they last several years. beginning of inflation-fueled energy commodity mining boom, and caterpillar is the way to play that. if you get weakness because they can't meet demand, that's a real good opportunity and the way i'd play it. >> reason you wouldn't just buy it here flat out >> yeah. because ri'm afraid they're goig to miss -- again, we think because supply chain issues. whether the market in this current environment takes any excuse for a miss. i'd rather wait and see. up a couple percent, this is,

again a long cycle buy it up then rather see if you get a chance to buy it on some weakness. >> 211 trading into that report tomorrow thank you both very much for your reporting. and coming up, this etf is on pace for its worst month in six years with 9 o4%f components in a bear market how much lower can it go that's next. your number. and get your employees connected on the largest and fastest 5g network. plus, we give you $200 in facebook ads on us! so you can reach more customers, create more opportunities, and make this the best year for your business yet. visit your local t-mobile store today.

welcome back to "the exchange." the struggle is real for bio tech the etf xbd down 20% this year and on the pace for a fifth monthly declain in row last time we saw such a drop was about six years ago. over 90% of the constituents trade 20% off the 52-week high another wildly followed bio tech etf ibb plunging 17% this month alone. the biggest laggards novavax and moderna. after a surge in early 2021 on vaccine adoption you got new strains now which

means new vaccines, work costing going up and a boon for manufacturers are hitting judicial roadblocks and lockdowns are easing kelly? >> already a tough year and tougher now. thank you. up next, the device that warned athletes to the ceo they had covid before they felt sick. we'll talk to the ceo next here's show and tell shares of intel down 6% despite better than expectedresults. missed on the lower forecast the ceo told tech check earlier intel is playing the long game >> on the foundry business, hey, that is long play. you know customers, takes a couple years

to move designs into a newfound ri and an expansion for intel and as i said on the call yesterday we are a bit ahead of the schedule i set for that. the momentum from e stthcuomer and the industry

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welcome back omicron cases have peaked here in the northeast the u.s. added more than 80,000 cases today. as we learn to live with covid fitness technology is a game changer in early detection we'll talk to the ceo of woop, the human performance and wearable company your woop told you you have covid, right >> good to see you i was feeling lousy in december and trying to figure out do i have a cold or flu or covid. i've been wearing a whoop for years and measuring everything

against the baselines and you can understand when there's a deviation and when that deviation may matter i had seen my data out of whack but did i have covid i got back to back negative tests. >> i did, too. two negative tests and didn't test positive until day nine. >> we'll get into why that may have happened. i saw a huge respiratory rate spike and that is the number of breaths in a minute essentially and because covid is a lower respiratory track infection it causes the breathing to be elevated >> let me ask you, only because we have sump a limited time. can apple watch do these things? we have seen the pga guys using

this wasn't pa rick mahomes wearing was this weekend how proprietary is your technology >> we have a focus on health monitoring publishing research on respiratory rate if you see a spike in respiratory rate we have shown that in 80% of covid cases that's present so it's a meaningful statistic it is not perfect. this isn't a medical device but a very key early indicator and encourage us to get the tests that you don't know if you have covid. >> tell me what -- you can tell us some of the data about mahomes while he was playing that game? >> yeah. patrick is fortunately a great whoop user and someone who we are proud of and he wears whoop in the games and what is amazing about that chiefs/bill game is

patrick's strain the highest of all season put a ton of exertion on the body but with the heart rate we saw that a lower heart rate often on the field versus watching the end of the game with the team on the field. >> totally understand. >> he has ice in the veins and feels when he's in control. >> he had a 170 heart rate i get that walking up a flight of stairs. thank you so much for the data we hope to see you again soon. >> thank you. >> "power lunch" starts right now. ♪ wonder if that device predicted the outcome, kelly if it can do that, sign me up! all right, everybody welcome to "power lunch. value hunting. opportunities are emerging among the market volatility and the