if the lower interest rate environment, i say a little lower than we saw a few months ago is going to hold on. >> yes your point, dramatically higher talking about interest rates versus a year ago. of course, a big component in cpi awaiting that data tomorrow morning. diana olick, thanks so much. s&p up one-third of 1% right now dow up about 200 points that does it for "squawk on the street." "techcheck" starts now. good monday morning. welcome to "techcheck" i'm carl quintanilla with jon fortt and deirdre bosa yet another tech name going pra private, thoma bravo buys coupa. and more on top picks from netflix to robinhood names the stwrreet is betting on econ data just crossing tapes. steve liesman? >> good morning. improvement in the federal reserval inflation expectations

gauge. the new york fed out with a consumer expectations survey showing one year inflation expectations fell most on record for this series. back to 2013 they are down by 0.7% to 5.2%. in a is still high, but it's lowest measure for the one-year ahead expect aces since august 2021 here are the full suite of expectations that one-year still high at 5.2, but down 0.7. three year down 0.1. up to 4% august 2021 and down year the fed's target, five-year, 2.3% down 0.1 earnings growth suspected declined 0.2% to 2.8%. guys, one of the things fed watches closely. a bit of good news on the inflation front. >> steve liesman, thank you. we're going to start our feed today on "techcheck" with coupa. surging on news the company

signed an all-cash deal with thoma bravo going private for $81 a share. you recall talking a couple days ago about thoma bravo raising a buyout wasting no time on this a darling, taking a beating in markets this year. shares traded more than $160 a share back in january. now investors pivot focus from growth to profitability, given the volatile backdrop for tech, a tough environment, but that said today's news a reminder innovation potentially value in some of these smaller names. i'll also say, coupa is in the cost-management business watching, helping companies watch their bottom lines if you're trying to take a broader view, perhaps this is cautious for the macro going forward that they, you know, went ahead and did this deal nap said, since november, they've been sort of getting shopped

around i did get a chance to get rob bern bernstein, founder and ceo of coupa on the phone a few minutes ago, told me unanimous board agreement to engage after that pe interest reported talked to a lot of people, he said, his opinion did right by their stockholders getting that $81 price. he said took every penny off the table. same time said the business is resilient. the community around coupa is strong this isn't an issue with coupa itself, de he was saying. really just a decision to do what he could for the shareholders in this environment. >> uh-huh. interesting he said it was unanimous. rung every penny out from it remember, only last week when the biggest shareholder. a hmi capital wanted $91 minimum came down. a massive premium over the last few months but lower than where coupa wa at its peak

this firm is paying up for these deals. done some of the largest deals this year, carl, at some highest valuations sale points and ana plan 13.3 times, 12.8 times anti-revenue multiple respectively coupa on the higher end. 8.4 times based and street consensus. median over the last years post and pre-covid seven times. thoma bravo we know very successfully raised a lot of money to do more of these, but they are paying up i heard your conversation, carl, with cramer earlier. he thinks maybe too much >> yeah. interesting. morgan stanley does a screen, jon, of other names might fit this profile ev, 5 billion or so, a heavy subscription mix leads to name names like c3ai. watching those. >> everybody's an accountant

when it's tough. i don't remember anybody overpaying when it was salesforce buying slack and that hasn't worked out so great, the reporting says if you, take 23 off the table. who know what's will happen in 2023 you know but '24 and beyond if the technology's good, potential for growth there are companies concerned about managing the bottom line, managing costs are they watching what they can do in supply chain to be sufficient absolutely over the past couple years. see if thoma bravo can help coupa figure it out. >> makes it an interesting acquisition at this moment for the economy. so far look at the other targets, cybersecurity, back office to carl's point, what are private equity funds looking for now? sticky revenues. highest renewal rates, longer-term contracts, a large b base of bigger enterprise customers switching costs, high margins. there is a section of enterprise

software that fits in here probably named a few, asked tom of c3.ai, where do you want to be attractive? switching from that subscription model to consumption-base model you think makes them less attractive for this kind of deal, if that's what they were looking for. >> and ask the thoma bravo and fear among some part of the fund-raising space is running out of dry powder? certainly this new fund argues otherwise? >> i think it does i've had conversations with vista over the last few months no slowing down either as public market investors get more skittish about these companies that are younger, that are not making profits necessarily or throwing off tons of cash, but have the technology, hey, private equity is still in there. public market investor can't bet they'll get caken out. who knows? like playing roulette. if you understand the technology

and look at results, think how long am i willing to stick it out with certain companies how cheap have they gotten >> arguing, bofa over the weekend, i think, best business innovation takes place when maybe conditions are not ideal. >> brett taylor going back to the entrepreneurial. >> exactly companies like thoma bravo scoop up tech ferns our next guest sees unprofitable companies feeling the squeeze likely struggle to capture low interest loans and keep the business running. founder and ceo, michael yoshokami. give us your view how some deals at least implies value in some things >> first of all, someone is seeing value especially look where the share price was in your previous discussion, and where they're being taken out now. i found it really interesting that the conversation, that the ceo said took every bit of dollars off the table.

it just makes me wonder a little when it was twice the price and currently taken now. shows pepsi yields getting more realistic as well. >> mentioned, some squeeze especially as people try to finance a future operation. >> yeah. >> how's that going to play out? who do you think is most vulnerable >> well, first of all what's playing out is a lot of these companies were driven essentially by super cheap money. go out and get fixed income rates of 2% gives a tremendous amount of money to finance from a general standpoint on the tech business if a company does not have earnings, if a company does not have strong cash flow and there is uncertainty about this company, i just think they're going get punished by investors. look at even the companies with tremendous earnings, and tremendous cash they're getting

punished by investors. time to be very cautious on more what i call speculative tech >> yeah, but, michael, thread the needle for me on cautious here, because on the one hand we've got investors who two years ago were just throwing caution to the wind, buying things at all kinds of prices. you don't have to go back two years, just 12 months. on the other, you've got private equity that's seeing value in some of these, and you know they're game plan, hold tight for a couple years and bring these things public again. so to what extent can the retail investors think like a private equity investor, if the time horizon is more than three to six months and how should the retail investor go about that >> i think it's a really good question i think what's really important here is to understand private equity and venture capital expects to fail 80% of the time. >> uh-huh. >> really going to make their mon on their home run.

so what i, what i'm suggesting is if you're an investor and have $100 and you put $100 into five different companies and four fail, one is spectacular, can you live with that and hopefully you pick one of the companies that's going to make up for the other losses so i think what's key here is certainty or predict act you can be live a private equity buy five stocks, four blow up and still be happy maybe not everybody. >> right. >> and see in private equity yeah okay. >> well, then if you look at the private equities base maybe a trade for retail investor or average investor for -- morgan stanley puts out a screener what to look for. give you names could you loob look for some of these between $1 and 10 billion companies see how active thoma bravo and others have been in

the space this year? >> you can do that but what year really asking me what company will be taken out next, and nobody knows that. >> yeah. >> so i think it's helpful to watch where the institutional investors are putting money. particularly if they're buying at a 50% in reduction in price than they have, you know, 12 months ago so i think that certainly is telling. in terms of specific trades, it's -- it's just hard to say. i think -- it didn't really fall how we invest money, which is we can't take the pain of four blowups and one success. most of the people we work with, as a private wealth manager, can't take that kind of pain they want more certainty there's plenty of tech names now trading at a pretty good dis discount from where they were and i don't think you have to go on the edge unless you're a private equity investor. >> talking about that. where software fits in the appetite for risk and technology, in the month's

ahead. appreciate it much we'll talk soon. >> thanks, carl. jon may be looking at 2024, but 2023 around the corner where should you put your money? julia boorstin is with us, top media picks. >> a number of analysts flagging entertainment and media stocks cowen naming top 2022 pick, a high-quality vehicle in above gdp growth in video gaming over the next decade bp morgan stanley naming comcast, incomes's parent company, top pick in cable and satellite sector seeing '23 as a challenging year for growth driven by peacock losses at nbcu due to world cup timing, we see a path towards healthy acceleration in 2024 and two bullish notes out on disney this morning. morgan stanley rating overweight

saying cost opportunities as a media business and momentum at the parks should allow disney to deliver on its guidance the next fiscal year. evercore with an outperform saying ceo bob iger repairing relationships with creatives will put disney on a stronger footing for the long term and warn they don't see many easy opportunities to dramatically change the direct to consumer cost base in the medium term cowen naming netflix top large cap pick going into next year up against price target of $405 say issing the streaming giant's new ad tier and page sharing solution will drive growth in 2023 jon? >> all right, julia. thanks. let's dive deeper into that netflix pick with the analyst behind the call, cowen's john blackledge given what's happening in the market and the shift that netflix is taking towards advertising, how much certainty is there about how that's actually going to play out >> yeah. jon, thanks for having me on i think good.

we highlighted two key monetizations levels ad tier rolled out in november drive accelerating member ads in 2023 forecast 8 million ad tier members ending '23, rising to 43 million by '28 and view netflix as the best recession play in our internet coverage universe just given macro conditions worsening you have an ad tier available for value on conscious consumer and the other area is the paid sharing solution that they're going to roll out in '23. we think it will boost revenue per member and depending how many converted of the 100 million global paid shares per our recent survey data we had the pay sharing solution driving potentially 5% to rev revenue. multiple potential revenue drivers next year.

>> how long does netflix continue to get to operate by a different set of rules from other media companies? does it still get to be its own category of kind of tech company where disney has to worry about profitability in streaming, netflix can more do its thing and kind of ride on the promise of the new ad revenue? its valuation will get hit >> yeah. i mean, jon, we, the other positive thing for netflix is we have free cash flow ramping to almost $3 billion next year up almost 60% as profits rise and their cash content spend flattish netflix is the global leader in streaming, and so this new ad tier will be helpful and paid sharing, as i said, helpful to drive top line and also margins as we get into next year >> john, good morning.

how many subscriptions do you think consumers will going to be willing to pay for what does it mean for consolidation and content in the year ahead >> yeah. you know, if you're netflix, it's -- it's good to be netflix, just because of their depth of content and also they led in minutes of viewed by a wide margin versus disney+ and prime video in the u.s. in this last tv season. they're definitely there and then probably prime video ca and disney+, and for netflix rolling outside a new ad tier at $6.99, well timed i think heading into next year we potential tougher macro situation for the consumer. >> john, seen desk notes saying, wow, really seeming like tiktok could see an outright ban, but your note about what happens if that happens is pretty interesting, moves that conversation forward are you putting any odds on that or just lookingality "what ifs"?

>> my colleague paul from cowen's washington research group ads 40% of potential ban and leave that to him. the note we did a collaborative note last week on it and in our survey data asked if tiktok were banned who would benefit and it looks like meta, instagram reels, biggest beneficiary and youtube shorts snap really wouldn't benefit at all. so just looking at who would benefit if, in fact, it were shut down next year and meta, particularly the younger demos, meta's instagram reels the biggest beneficiary. >> a lot of time, a lot of attention. eventually a lot of revenue freed up there john blackledge, thank you. >> thank you still to come, crypto in focus ahead of a big hearing for ftx on the hill about regulators taking aim at another exchange as well. even bigger than ftx we discuss that next

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crypto world this week binance in focus with reuters reporting the doj is weighing charges against executives including cz if it engaged in money laundering and criminal sanctions violations applied to the report saying the publication "has it wrong" and stood by their law enforcement team meanwhile, investors may be on a crypto run nearly $1.5 billion worth of bitcoin left centralized exchanges in november, markingal largest-ever monthly outflow according to crypto compare and sam bankman-fried set to testify in front of the house financial services committee tomorrow at 10:00 a.m. eastern bring in our own kate rooney to discuss. as always, kate, so much to get to, but in terms of sbf, i feel

overload sbf twitter space, an interview several times a day. what can we get from him interesting because lawmakers asking the questions will we hear anything differently? >> that is "the" question and what will we hear different from the hours of testimony that he's really given already in median interviews one thing from legal experts i'm talking to, the bar is just higher this is the first time we'll hear from sam bankman-fried under oath he can really say what he wants during twitter's interview as. now a risk of perjury. talking to congress members who have really wanted answers from him, in a different way than a journalist might donated to a lot of big names in washington he's spent time on capitol hill. testified in front of congress in the capacity of what was at the time an expert witness in really the credible face of this industry, that image now completely shattered the company going through bankruptcy he is now no longer spokesperson

or ceo as john reyes said. speaking of john, hearing from current ceos interesting juxtaposition between john rey in charge of restructuring enron calling it the worst bankruptcy and messiest seen in his 40-year career with sam bankman-fried having to answer how he got here under oath. >> very key point. he will be under oath. interesting to see if his answers and strategy differs i want to ask awe the finance headline the doj or regulators looking at money laundering, sanctions violations kate, the old crypto issues we're used to kind of the standard issues in focus now commingling funds, and proof of reserves, still by the way don't have from cz but feels he's on the back foot these days. where are we in terms of wa we want to hear from cz and binance and worrying about this

exchange, much laerger than ftx? >> now that ftx has gone under binance controls 75% of global volumes. regulators and investors looking to have some credibility to have a solid exchange out there that has proof of reserves they put out a document earlier last week that was supposed to show reserves and there's questions right now from those in the industry on how you can actually value proof of reserves what's legitimate? what can you trust trust is one of the big themes here that people want to see from binance and also got the issue, you mentioned, anti-money laundering dealing with. they put out a statement essentially working with law enforcement responded to almost 50,000 cases trying to make the case different from ftx said hired almost 6,000 people in law enforcement and tried to comply with some of these global regulations and really tried to tout a team they've built and hiring they've done, whereas ftx

at the time talked about lean team they had, now looking like part of the issue. binance is the one to watch and reserves a huge question here. people want to see if you are an exchange that you've got the money one to one to back it up and record outflows. y any of these exchanges seen it at a record people looking to take their cryptocurrency store it off-line and have it in a place they feel they have control regardless what happens to one of these exchanges. >> even proof of reserves isn't exactly a totally transparent either a snapshot at one point in time and doesn't tell you if the reserves are levered the problem ftx got into it helps but doesn't tell the whole story? >> worries about cherry picking. showing a certain snapshot of the balance sheet and an issue comes down to trust. eroded with what happened to ftx. even proof of reserves, the idea

that you wouldn't have a big four audit irlooking at this, seems needs to be more done with whether stablecoins or binance, holding those one to one not in liquid assets and spot-on. even if you show something technically proof of reserve, there are always going forward going to be questions, appropriately, on where those are in case you need them real time. >> right real financial audit kate rooney, thanks. meantime, tesla down more than 40% in the past three months is it investors rethinking elon muck or something even bigger? talk about that after a short break. cnbc crypto world is sponsored by --

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fortt, deirdre bosa and julia boorstin and starting a busy week a lot headed our way over the next several sessions, central banks, ecosystems and high-profile earnings. meantime we go to contessa brewer. >> merger monday three sig want buyouts in the news coupa bought by thoma bravo, and amgen paying horizon therapeutics drugmaker develops treatments for rare autoimmune and rare inflammatory diseases and weber taken for $3.2 billion. paying $8.05 a share weber stock up 23% today, but still down nearly 40% this year. and florida lawmakers are holding a special legislative session to try and tackle the

state's troubled property insurance market bills proposed to ease big jumps in the cost of coverage, and make it easier for insurers to actually find re-insurance if you want to know more about florida's special inshushl hell, find that in my story on cnbc. >> special insurance hell. sounds interesting. >> yes. >> thank you. turn now to tesla shares taking a plunge over the last few months as investors watch elon musk take over twitter. pulling no punches making headlines after going an white house covid chief anthony fauci amongst others on the platform this weekend what is the return for investors? bring in steve wesley holding tesla shares in his personal portfolio. steve, you say he is over stretched financially and personally so when and how does this get better for tesla shareholders?

eventually have to give up the reins to that company or something gets resolved at twitter somehow? >> something's got to live, but the short answer is elon is stretched dealing with implosion, and ceo changes at tesla. managing five companies. who wouldn't were be a little over stretched, but while the bears have been winning. tesla down over 50% since february alone short sellers making $11.5 billion. look at the numbers and put politics aside, tesla this year will grow 53.6 billion in 2021, a number close to $83 billion, $84 billion. 55% revenue growth 45% growth in vehicles doing pretty darn well the kicker is, tesla is posting 16% net margins for gm and ford posting 5% and 6% relatively so they have a lot of runway a lot to like, if you look at the numbers.

i think especially after the downdraft, a good 2023. >> yes i see a lot to like about those numbers and for now, at least, still dominates the ev market. looking forward at a time when competition is coming online, is this really the time frame to be this distracted, this stretched? >> well, the short answer is, no focus is a key thing what he's got to realize is he has a permanent place in history for revolutionizing the global auto industry. he has almost single-handedly moved the world in new electric vehicles good for the planet and the share price, but managing five companies at once is tough. all of the things going on at twitter are not helpful. i'm hoping he'll stay focused on making good cars and putting politics aside it's a historic level, chinese in particular a will test tesla and shareholders need every bit

of attention making sure they're successful with the cyber truck rollout bringing new products to market next year. >> steve, seems to me from where i sitelon musk is getting farther and farther away from that advice. i'll mention, just got booed at a dave chappelle show in san francisco i think just last night. interesting to me, because dave chappelle's crowd is a free-speech crowd. right? still going to dave chappelle shows after everything, and elon musk thinks he's leaning into the free-speech message, but the fact that he'd be booed for minutes on end there might suggest that he's miscalculating even, you know -- his brand, strength among his core audience does that mean that there's some risk eventually to how many teslas he can sell, no matter how good the car is? >> look, i think there's no getting away from that one of the things tesla's done just about better than anybody is created one of the most 3

powerful brands in the world took on ford, gm, toyota proved them wrong now moving further and further into politics i think it's hurting him and the brand and hope he gets back to focusing on great vehicles, doing it better than anyone. a key time we're heading towards what is for many the most important smackdown in the global transportation industry, and that is who owns the short haul trucking market? ford f-150, biggest selling vehicle in america over 40 years. electric or gas. now tesla's come on with a cyber truck with an extraordinary 1.2 million unit backlog if able to launch that in the scale i think they will be in 2023, start to see the first larger numbers come out in q3. that's is a game changer that's why he's brought tom, the mastermind manufacturing genius

from china think about this a minute. the china facility in shanghai producing 40% of all tesla vehicles today this is the guy who got the plant up and running in 13 months 10 million square feet facility. if he can do what he did in the austin plant, what he did in shanghai, a game changer foretesla. we for tesla >> china's a great point especially since we're watching other mega cap companies like apple try to diversify their supply chain if, in fact, there's a market, a degradation in u.s./china relations, how much vulnerability does tesla carry, do you think >> right now a lot. 40% of vehicles coming from china. any hiccup in u.s./china relations tesla is in a world of hurt why they're moving quickly y you've seen in the press canada, indonesia, break ground

if not in one two of those places diverse like everybody else in the world, fascinating also touching on tesla revenue business everybody's talking about the cars but they're moving full line into utility sector keep an eye on that as well. expect to see big numbers. >> true. relatively small, but outstanding numbers there. steve, you used to be on the tesla board. do you still talk to elon musk, tell him to dial down the politics and do you think other board members are telling him to do so? >> i do not talk to elon he's done pretty darn well in the last decade but things have clearly turned in the last six months short sellers, $11.5 billion, never happened before. i hope tesla will respond accordingly. stay focus and making great vehicles. >> does he listen to his board getting that feedback from the current board members? >> fascinating i think elon succeeded doing whatever the heck he thought was the best thing. >> yeah.

>> worked out pretty well. the first chapter where things might be looking a little different. we'll see how things gobetween the board and mr. musk i promise, if there's one thing it will never be is boring >> ithink you're right on that i agree there. steve wesley, thank you for being with us. talk to you soon >> all right and calling 2023 the year of free cash flow and powerful networks. a top pick beacause of that. more after break stay with us

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welcome back to "techcheck." a gut check on palo alto network. bmo calling the stock a top pick with price target $225 per share. the firm highlighting the continuing need for cybersecurity solutions and they believe palo alto has a leading portfolio well positioned to gain share look at shares up 1.5% now at 151. bmo likes palo alto's valuation in strong free cash flow and shares held up this year stock down just 13% compared to the nasdaq near 30% drop deirdre? >> julia, standard also within the cybersecurity space, the cyber etf down 23% year to date. meanwhile, crypto the least

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investors sentiment when it comes to crypto? cnbc releases results from

first-ever "make it more money" survey investors cautious finding the space riskier than a year ago. six of ten americans surveyed rated risk investing in crypto as high. a 15-point jump from august of last year. that said, the market remains low. just 10% respondents are invested at crypto it's a at all with millennials leading that charge ahead of other generations. for more on those results register and join our "make it your money" virtual livestream tomorrow 12:00 poom eastern time how to earn more while possibly working less sign me up, jon. >> i think i want to work more, carl especially in the next year. we'll see. still to come, why one analyst is betting on robinhood here, plus a look at the top gainers on the nasdaq 100. there they are docusign, and seagen, datadog

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with qualifying internet. let's turn to an outline of top picks for 2023 new note bullish on names like robinhood and pfizer analysts behind the calls, dan is with us you like hood saying the company matured second half of this year, but did it diversify how much revenue is it still getting from payment for order

flow is it more successful these days in cross-selling or upselling customers? >> a great question. i think that the payment for order flow, key issue it was on the table that it's going to go away and now surveys telling us it's not going away. the ricksk is over payment forward, low double digit percent of revenue not that big a deal in scheme of things and now a clear 2023 knowing this is here to stay a huge positive catalyst, i would say, and other things that make us super excited about robinhood, too. >> what are those things i know that robinhood has been trying to offer different financial products feels like every fintech is trying to be that one-stop shop. what's going to make robinhood most appealing next year >> yes a great one. everyone wants to be the next fintech, but there's only one robinhood. a true similarity. think about it the name that comes to mind every time you think about young people trading, et cetera.

always robinhood just name a few catalysts for 2023 getting into retirement. right? i.r.a., offering that product. huge for people who actually try to start to get, you know, their money for re, retirement money to robinhood that's unprecedented i think disrupt the market a huge disrupt this market and that's a huge catalyst and they're doing well in trading and november trends are very strong and people are worried about profitability and they turned $47 million so cost-cutting are working and i met with vlad a few weeks ago and it's onward from here. all of the moons and the stars are aligned for a great 2023 for robinhood. >> dan, what i don't get is aside from the millennials and younger who wanted to day trade and things including crypto, what's the longer case growth thesis for robinhood versus

vanguard or fidelity or e trade or many of the names out there as investors get more cautious and stop being traders is that potentially bad for them versus those other names >> i actually think and this is the key debate here, right i think you're hitting the nail on the head and what they will do is they'll focus this cohort and they'll go as deep as possible so the case here is getting those younger people and having them do everything possible having to do as much as they want, as much as they can with robinhood and remember, while you don't have to go to the boomers, you can still stay in that cohort and get a bigger share and you can go internationally into the cohort, so there's still a lot of growth that come from penetrating that in that specific cohort. so i don't think there's necessary competition from the fidelities of the world or schwabs of the world at this juncture >> some of your other top picks

are a lot more, in my view, i don't want to call them conservative, exactly, but toast is a bit more of a b to b play, of course. fiserv, etne transactions and t volume of those in the way they've been benefiting from inflation because they're taking a percentage can you talk about that for a moment >> yeah, sure. toast is the ultimate share gainer here. they're growing restaurants at 5,000, to 6,000 per quarter and the bull case on toast is with the proprietary survey that restaurants which is less than 50% actually get an extra one to two extra software that comes in an incremental margin and we actually make them turn profitable and excellent execution getting share from the heartland's and global paynes of

the world and taking that and selling software fiserv, i would like to say that's a super value, clover is executing just as good as toast, but it's not getting the multiple so they're also net share gainer from the ecosystem and i think fiserv needs to get the multiple in 2023. it's a deep value share gainer that basically performs like the other growth stocks. so those two we like fis requires a corporate action so if they need to actually break up the businesses and that would extract the value and that's the cheapest in the group with the most upside from potential corporate action and the odds of it are definitely more than 20%, 25% >> i'm curious, the journal has a piece of americans going to shop given the currencies, and i wonder how you're thinking about the possibility of the dollar really becoming more accommodative. does that help because of currency or does it do something

to cross border shopping in light of the story >> i think it's a great thing for the networks, right? so we're more bullish on mastercard and visa. cross-border comes in at 10x, and most people don't know that. ten times the yield in the regular transaction owso if americans are going to europe to shop, visa and mastercard make ten times more yield on that transaction, but i would view this more of a trade than an investment i think the headwinds for the networks in terms of visa which is coming live later this year and basically saturation of cash to card are the bigger '23, '24 themes while the trend of cross border will be a nice bump i think it's a crowded trade and most of the buy side is already there. >> dan, always great to get your insight. thank you for being with us. >> dan dolev microsoft notch the top spot

when it comes to management according to a new report. we'll find out why and talk about payment second when "tech chec iba ia nuk"s ckn mite ♪ ♪

according to the days of the year.com, today is poinsettia day and ginger bread house day and more important for investors it's a significant market anniversary. 42 years ago apple went public at 22. today trading at $142 and change remember, the stock has split five times since december 12, 1980 since then the stock is up 145,000% of all of the ipo anniversary we've watched this is an important one. >> about 22 years ago i started covering apple as a beat report a er, and steve jobs hadn't committed to sticking around you have to measure companies over a longer time horizon, d., that's for sure. >> an important thing to keep in mind, 22 years, jon. one more thing before we go, kind of related. microsoft big apple rival, one of the best managed companies of 2022 and ranking focus five key

performance areas and employee engagement and social responsibility and financial strength this is microsoft's third year in a row at the top. other big tech names i did see slippage and amazon falling from number two to number eight and customer satisfaction fell year over year, some of the big tech companies are at the top of the list, but when it comes to customer satisfaction they have definitely slipped >> it's -- i want to dig into this a little bit because microsoft is in the top ten in every category i mean, employee engagement, innovation, social responsibility and financial strength except for customer sa satisfaction where they rank would lower and people like xboxes and i'm not saying i'm doing cart wheels over microsoft work, but i like it. >> it works. >> yeah. pretty fascinating

in the news constantly today even with this headline about the london stock exchange stake, and we'll get some other high-profile names over the course of the week and home building from lennar and adobe and oracle, john will be huge ones to watch amid the macroenvironment and adobe hopes keeps going. >> let's get to the half carl, thank you very much. welcome, everybody, to "the halftime report. i'm scott wapner momentum for the rally and whether the stmarket will send stocks surging and kill the santa claus appearance we'll discuss that with the investment committee, joining me, bryn talkington, joe teranova, and you see them and the dow's good for 278 there it is. s&p a half percent 358 the yield on the ten-year note and liz, the cpi is everything tomorrow and the fed is everything on wednesday