which would you rather, nvidia or amd chris you chose nvidia, tell me why that's your choice over amd? >> yeah. as harsh was saying, we also like amd, but we give the edge to nvidia. the reason being, is we look for open-ended upside or asymmetricle upside, and we feel as though artificial intelligence is really the platform that we can kind of rely on here so cuda, which is nvidia's operating system, essentially, for for artificial intelligence, the de facto standard out there, and we think the standard that powers artificial intelligence for the remainder of the decade. >> i wanted to ask you about -- by the way it's not fun to call it a bull fight if you're not fighting. >> two bulls are fighting. >> okay. >> you go first, no, you first. >> well, i just want to ask about a couple of the other headwinds that are facing the whole group here you've got the issue with clients getting too much inventory and sitting on all this glut of chips that it seemed like last year at this time we couldn't get enough and two, reducing the capital spending we've heard it from micron, intel and taiwa

amd, the ceo joins us here.nd, women investors who started shaking up the silicon valley bro culture talk about it. first, this is my last day in this chair. i have to get through the next hour. i want you know this show will be special. we have a lot of news to get through. let's check the markets first with ed ludlow. i believe you will be seeing more of in the coming days. ed: an astonishing day, historic day in financial markets, particular the technology sector . this was the biggest post-cpi reaction for stock markets record going back to 2000 three, when we have the data. nasdaq one hundred up seven point 5%, the biggest jump since march 2020. the philadelphia semiconductor index having its biggest jump since april 2020. that pullback in yields below 4% on the u.s. 10 year treasury yield notable. megacaps part of the story. you see the chart how low we went on bitcoin, towards 15,000 per token, given what is happening with ftx, a slight rebound to above $17,000 per token and bitcoin thursday. megacaps, th

is amd looking at opportunities out there?a: we are excited with the recent m&a acquisition in february. they have been part of the amd family for the last seven months, eight months. it has gone fantastically well. the business is fantastic, above our acquisition case. we also acquired another company, a specialist in networking technologies as well, so m&a has been good for us, but i would say running a strong, organic business is front and center in what we do. emily: lisa su, we will hopefully have more to come together, but i really appreciate you coming to talk to us today in san francisco. thank you so much. lisa: so great to see you and congratulations again. emily: thank you. more "bloomberg technology" after this break. this is bloomberg. ♪ emily: meta's first major job cuts might not cut it. the facebook parent laid off 11,000 workers this week. but that will not be nearly enough to get the company back to profitability from a few years ago. revenue falling. spending ballooned. the money saved on job cuts, just a dr

amd and airbnb set to report their numbers out to the bell. we'll tell you what everyone is looking for in earnings exchange, but first, we are one week away from the midterm elections, and business is on the ballot, especially in the battleground state of nevada ylan mui is in vegas where inflation is still front and center for voters. ylan >> reporter: there are a lot of poll numbers coming out in nevada's senate race, but the real number that you need to know is right behind me. $5.09. that is the cost of a gallon of gas here in vegas and it's fueling voter outrage. we'll tell you more on the sch exchange, coming up. this thing, it's making me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done. i'm okay. the hiring process used to be the death

another opportunity for amd to steal market share from intel.eneration chip that some of the customers big players, microsoft, oracle, even amazon among them helping the stock as well. and then another factor just yesterday tsmc put out their october sales numbers up 56% year over year, second highest sales month in history that's showing that market for some companies is still pretty strong and that is also helping the smh and stocks, the stock having the best week ever, smh, since 2001 again, amd chips the new processors that they launched is helping that stock up 6% >> thank you kristina partsinevelos mike, that's going to be your nickname domino's because you also deliver for us every time. so what do you do with this sector which is, as christina said, having the best week ever, still 25 to 30% off the highs and concerns about the cyclicality and what will happen to earnings. >> i think it's mailman is who delivers if you want to go back to nicknames look, it's obviously a good additional reason to decide that amd can re-emerge from this ph

terms of amd, fundamental story at amd is constructive following amd for us here at piper and a lot of things happening around the data center, enterprise pc market should be a positive for the stock. technically you look at the chart, not reversed a longer-term down turn yet. still below declining average and bottom line for us is, morgan, see it close above $80 before we think it's more than a relief rally at this point in time. >> all right, craig. by the way good to see you if daylight hour, too, my friend. congratulations on biking. talk about that in a second. right now talk about toys. hasbro talked about christmas when from i understand children like christmas how's hasbro setting up? >> distributional-looking stock. >> what does that mean >> look at the chart we have here looks like a rolling over dome, when you look at the chart below a following 50 day, 200 day moving average at this point of time no support for shares from our perspective, use a relief rally to sell hasbro. looks like more down side left to go. >> stock down 5% and finally, the pharmaceutical company? >> an

>> also, amd is out with its quarterly results.hat came after the bell guidance as well is out, and well, the stock is actually a bit higher in the premarket. you're going to want to hear what the ceo said on the company's earnings call, not to mention with you on "mad money." sticking with tech, amazon pulled out of the trillion dollar club yesterday. that was the first time it closed below that valuation since april of 2020. what does it mean? let's start with the fed, though that expected rate hike later today. we start a lot of our conversations here with the fed, kind of tend to have the same conversation, curious as to when that will change >> yeah, you know, sometimes i feel like we have nobody -- we stick with this three quarters it's almost like jay powell kind of telegraphs things there's not that much to it, and i think the thing that people are looking for was him to say, you know what? now we wait and see. and yet, everything that's come out in the interim seems to be pretty hot and the risk that he runs is that if we

since amd announced preq 3 sales. company missed earnings by just a penny per share guidance also a little light but shares are up over 4% in after hours. and much of that weakness was due to the week pc market and inventory reductions across the pc supply chains, causing its client segment to plunge 40% year-over-year but the company, and that is the key point, is blaming pcs and not data centers the silver lining that investors were looking for in this report. so data centers accounts for roughly or over 20% of amd's business and it was up 45% year- year-over-year, driven by certain server processors. even nongap gross marvin increased 50%, 2 percentage points the news was welcomed, especially after intel recently posted a 27% drop in profit for its data center and ai unit during the exact same time frame as amd but again, i'm listening in on the call, and they're just going over the numbers so far. no comments and questions yet. mel? >> kristina, keep us posted. what did you think >> that's the story. this was bett

so like you mentioned, data center sales really helped cushion the blow with amd's latest earnings. you had a miss on the top and bottom line, q4 guided lower because of weaker pc sales driving the client segment closer to what i can maybe call bottom down 40% year-over-year pc sales will actually continue to decline in q4 and in 2023 down 10%, but q3 data center revenue is what increased 45% year-over-year, and that's helping drive the stock about 3% higher right now i also want to point out amd says the u.s. export rules to china would have a minimal impact on revenue, and today the nikkei is reporting that tokyo is in talks with washington to create its own set of tech restrictions for china similar discussions are pretty much ongoing with south korea and the eu that could be good when you have allies joining the united states but back to amd. so amd is still dealing with weak pc markets, so where does that leave qualcomm given its high exposure to consumer end markets? the stock you could see is down 19% reflecting a slowdown in 5g adoption as well as weak china smartphone sales

i think it has come earlier and is a bit more abrupt >> what do you expect from amd tonight and how doect them to address the ban announced by the commerce department >> in terms of how they will manage it, obviously one of the concerns of the export ban is it does sort of remove a portion of the addressable market for companies like amd and nvidia and some of the chip equipment makers it will be interesting to see a couple of things number one, obviously, the aspect of enforcement. given the fact there are provisions for granting licenses that provide exceptions. also, there is the consideration for china's retaliation. you know, ultimately, this does actually take off the table, we believe, some structural issues for amd. it does also, of course, provide longer term opportunities as well you know, that is undeniable that it is meant to take that demanded off the table. >> jason, as you examine the balance sheets of the companies and look at the benefits and risks, what would you say is the best name to own in the broader semiconductor space? >> we're on the side of not providing advi

lower guidance initially made me wonder, could amd be nearing its bottom? it is down 60% from the tides. where is this headed for the near future? let's check in with chair and ceo, mr. sue, welcome back to mad money." how are you? so glad you are here. we have got a new update from you that i know included the announcement, but you also gave us a fourth quarter outlook and i felt that i could describe it as, not as bad as feared. can you give me what makes up a list, just from what addressing last month, that gives you the confidence that things will not continue to get worse? >> absolutely, jim. if i give you the overall outlook, i would say, we are all working through the macroeconomic situation and i think you are seeing that in a number of sick years. we have a very diversified business. we do have sort of a challenging bag job backdrop in the pc market, not affecting us in the third quarter and will affect us in the fourth quarter. we also have our data center business, proving to be relatively resilient. we have our embedded business that has some si

i am not a buyer yet they are still expensive >> amd has a new chip out.led the dominos because it delivers jeff, are you into the semis >> there are positive things going on valuation is easier at 15 times versus 26 or 27 times and the smh at the top if you're trading this, a lot of the really important chip stocks are in clear down trends and you're working on 40% rally for amd, 50% rally for nvidia so this is similar to what we saw in the summertime, clearly great businesses but there are issues with sickly kalt semi demand and falling demand is going to happen so i think you can buy them cheaper and relative to a stock like intel just quickly, that is gone, a stock down 60% from its high and the p/e is higher than it was at that point so it speaks to what's going on from a fundamental perspective with a stock like intel. >> people aren't excited about the chips act and the billions of dollars in subsidies these companies are going to get to reshore manufacturing because it will take a while? >> and supply/demand i've been negative on the chips space fo

and amd warns about deteriorating demand, changing invent inventory dynamics and they expect pc chipsash by 40% in the third quarter. and an aggressive price cut mostly from intel. but they did say data center sales would be in line with expect tagss for the third quarter. we'll see if weakness is showing in the current quarter or if they are successfully stealing market share away from intel which could be plausible given that intel posted a 27% data center and ai revenues so all those things we'll look for after the bell >>. >>> still to come, supply chain challenges exist and xp off the spinning off part of its logistics business rxo beginning to trade on its ow n. >>> share s of fox gaining over 5 % of a ter the company dr driven. >>> stronger than expected results come after fox and news corp announced that they are in discussions to potentially recombine. fox ceo saying on the earnings call the special committee has not made any determination at this time and there can be no certainty that the company will engage in such a transaction worth noting that since those talks were ann

i think amd is worth a look.ve is over yet. >> move on to etsy probably you can find on etsy a nice little outfit for your turkey, if you want it. >> you can find anything yeah you hit it on the head it's this really interesting global marketplace for artisanal items. interesting thing about etsy, it really got caught up in the growth stock back to covid. growth stock covid phase went up big. now down about 60% off the highs. i do think you separate it from some of these companies that frankly won't be back again. etsy looks like it's going to last they're still continuing to grow users and are actually -- making earnings and actually have free cash flow and cash flow. so i think actually it's an interesting one. probably not quite -- maybe i'm being too stingy cheap enough yet for me, but certainly one that i would watch and be interested in at some point. >> i think we should have or tisinal use ti -- artisanal used more often. turkeys cooked on amd and etsy now. take a look at this. no longer alive. this is ex

amd mixed quarter for the chip maker. gaming segments somewhat offset a steep decline in pc demand and forecast for the fourth quarter did come in below estimates as the company twworks to unload excess interview here's a taste >> what we have is we have a very diversified business we do have sort of a challenging backdrop in the pc market and that affected us in the third quarter. it will affect us here in the fourth quarter as well but we also have our data center business, which is actually proving to be relatively resilient, and we have our embedded business that has actually, you know, some significant positives amongst a broad base of industries when you look at all of that together, we believe that we'll be flattish as we go into the fourth quarter >> we knew pc demand was weak, right mike what are you fetie getting fromd some of the others on end markets and just how much economy or their clients are slowing. >> right, so the pc market has now acknowledged it's now in the numbers in terms of forecast that it's jus

amd only has major competition from two other companies when it comes to designing the most advancedicroprocessors, intel and cpus, central processing units, and gpus amd made history this year when it surpassed intel's market cap this year for the first time ever >> i think it's beating on all metrics that matter. unless intel canix i fts manufacturing, they will continue to do that. the right . get decision tech. for insights on when to buy and sell. and proactive alerts on market events. that's decision tech. only from fidelity. >>> it may be the most wonderful time of the year but not for shippers like ups and fedex as consumers continue to pull back amid higher prices our frank holland joins us with the break down this morning. hi, frank. >> reporter: good morning, carl. 90 million packages from black friday to christmas that would actually be flat year over year. we're at the ups smart hub outside atlanta where they're preparing for any surge using a combination of autoimation like the truck you see behind me and of course human workers. so the question is there going to be a b

what are you giving up here not amd, but? >> hi, liz, how are you doing.r has gotten beat up. i think you got basically high valuations, bad earnings and rising rates and i think people are throwing the baby out with the bath water which could be a little unfair. i think there are some bright spots to be had, and yes, companies like asml, which is ultimately the manufacturer of machines for chip-makers. incredible company. leader in the industry. 33-cents on the free cash flow versus s&p of 16. 27% on 2022 revenue. 25% projected going forward. they had great forward guidance and they are a leader in what is going on. so i think they're pretty poised for growth. as well as palo alto networks. that is a monster in the, in cybersecurity. they're building walls around companies. they're dealing with colleges. all sorts of municipalities, big governments. so you know talking about cybersecurity being up on tax of 21 of 15% and 2025 estimated to be 10.5 trillion in costs. there is a company that is set up to take advantage of that. liz: okay. >> so we're pretty

time for your three stop stories of the morning first you have amd the third quarter results missing, but sales from its data centers division held up. amd shares are moving higher after the ceo lisa su told analysts on the call they expect to get rid of excess inventory by the end of the year those shares up 4.3% of the market lisa su, by the way, will be on "mad money" with jim cramer in an exclusive interview tonight a must-watch there, 6:00 p.m. earmark time lisa su, ceo of amd with jim crime jeer stock number two is airbnb third quarter profits and revenue beat forecasts, but growth in bookings slowed to 29% in the quarter from nearly 60% in the second quarter. airbnb says revenues could fall short of revenues as the dollar is starting to affect the business and bookings would moderate the shares in the premarket. and stock number three is young china, those shares jumping nearly 14% in hong kong after the first food chain's third quarter profits nearly doubled it's the biggest gain, however, the company warns of a resurgence in covid cases as china is darkening its outlook in t

strategy that takes over whatever your fundamental view might be of a stock so enough is enough with amd, down 28%, having liquidated it i bought nvidia back on july 5th at 148 the loss there a is little bit smaller. but on each one of these semistocks the beta is well above 2. my risk assumption is well beyond what i want to incur at this point, and you're also exposed to significant tax law selling, which is in the process of unfolding so overall i have a view of the semis in which i think the bad news is priced in but i wanted to pivot away from that and seek a lower beta exposure. alphabet, i am ringing the register here. a lot of the reason behind alphabet was based upon the increase in the buyback strategy and now ultimately we're beginning to see a deceleration. you're seeing the ad spending and the deceleration in the sales growth that's a reason to move away from it. data dog, that's just a 20% loser in which i took a small step towards that hypergrowth strategy, and this is just not the environment for it we are not ready for that step to move forward. two other names i liquida

12% for amd. this sustainable we don't know. that's going to be the question. there's probably a little computer action thrown into this, as well. unless investors just see their business 12% better because of a slightly lower inflation reading. i'll let you be the judge on that on the flip side of equities, yields, they're going down at one point, the ten-year yield was down 30 basis points we're back under 4%. there's this inflation print right here it's like that guy from the price is right if you went over, the alpine guy. an anyway, crypto is falling all of this bullishness bitcoin is up to 17,281. completing the hat trick or the quad trick, commodities are also moving higher. basically, it's the everything rally redux. there we go. let's talk about it all now. joining us to kick off the hour is brian railing, global head of fixed income strategy at wells fargo investment substitute and keith fitzgerald, principle at the fitzgerald group keith, i will start with you i'm not being cynical abou

lisa sue, amd. of them are just for gaming we don't want our companies punished too hard here because they are the gems of our entire nation >> yes and i do talk to them all. we partner with all of them. we don't want to punish them at all, actually. we don't want to punish them at all. which is why i'm working so hard and the white house is working hard to get our allies on board. you knnknow, we can't have the dutch company selling to the chinese if our companies can't so we need our allies to come on board. but look, jim, at the end of the day if china's military gets what they want at the pace that they want it, that's bad for every american company so of course we want american companies to lead in innovation, but national security comes first. and this is targeted we didn't do this on day one we've been working on this for a year it is powerful but it's also targeted to get the national security job done and not punish u.s. companies. >> one of the reasons why i love having you on is you are a

so those nes amd rockets that are coming from the u. s. they used to protect the white house. they're pretty modern. they were developed nearly to thousands. they're kind of close to medium range, and then the rockets coming from spain, they're bit older. it's kind of more seventy's eighty's and they are short range. but this is all very welcome. there is obviously a worry that this is too much too different kit. there's no kit that's come from germany and other kit coming from france. couple weeks of the ukraine, your me really thanked him basically make do with all the kind of leftovers, the western military's have and a willing to part with. but it's definitely psychologically very important to think that there's something to deal with these attacks. they've left people feeling so vulnerable, a connelly reporting from the ukrainian capital. i'm ben for solon, you've been watching d. w. use up next close up, takes a closer look at the truth behind claims of climate neutrality. and your group is mckenna, will have you used a south by again, again, all the harvesters are immig

the idea that they have added amd, applied materials, lamb, do you like 1/2 those names >> asml, i dodifferent than the others, definitely a high-quality name, with somewhat of a niche nvidia, look, to me it just is way too prone to promotion, not only from the ceo, but from shareholders as well i prefer to stay away. in addition, i don't think it's necessarily cheap, they don't typically miss, though there's -- you've got to go through where the over-ordering is, where the double ordering is, and i'm particularly troubled by the autos, frankly you're seeing them slow. the autos were starved by semis, so now semis are sort of reaction sell rating their production as supply chains are strengthening again. will they be able to sell the semis into the auto companies, as everybody had been anticipating i would stay away. i'm just waiting for a better opportunity. >> we got upgrades from a number of these things, too susquehanna, global foundries named a top idea, so it's not like wall street is backing away at the current time from those. >> specific, though. global foundries with benefit

amd got a couple of positive upgrades. amd up 2%.>> inflation hitting childrens toys ahead of the holiday shopping season, wouldn't you know it. lauren, toys are getting smaller? lauren: an cheaper. if they're smaller and cheaper. mgm entertainment, know them for lol. they're making 200 does costing un$10. they had 10 or 15 toys that were that cheap last year. this was huge hit t comes in a downsized version. it costs $25 versus 40. they have the three inch dolls called fashion figets. there they are. selling on amazon. they are $8 each. they have 2-inch brats dollars, they are smaller. this is smaller cheaper for the company to switch. i'm saying easier for the parent discard. stuart: it is true. lauren: it is true. stuart: i use in america, lived here for 50 years. you never use the word cheap. lauren: i use it all the time. real cheap say it is cheap. stuart: if you can't get stuff to consumers, hey, this is cheap, take it. lauren: i love cheap. give me more. stuart: i will ask our next guest about the use of the word cheap becaus

amd 31% over the past month. nxp, 22% intel is up 15 qualcomm initiated outperformed 150 price target they got 210, by the way, and outperformed on nvidia micron outperformed. sky works outperformed texas neutral and intel neutral as well. >> let's tell the other side for the viewers and let them decide what they should do here the analyst communities marking down estimates the analyst community besides the note we just read saying there's a bottom, the analyst community kind of looks at the space and says, okay, not yet. what about the institutional activity in the 13 fs? warren buffett with 5 million stake and other hedge funds taking positions in names. >> it's a bet on taiwan semi >> it goes beyond warren buffett's bet. there are other hedge funds going out taking small positions in invid you so i think looking at the semiindustry, i think it's idiosyncratic at this point. it's finding opportunities in individual stocks. you mentioned the beta on nvidia i just wasn't comfortable with it it's 2.23. microchip,

amd warned of weakened pc sales but it does not expect supply to be constrained in 2023. break, and president biden fear mongering republicans and social security. dan meuser is here with six days to go before the midterm elections. then, is elon musk planning a new fee? twitter's new chief revealing twitter blue's price while slamming the currencies testimony. it is making a buzz this morning. morning. back in a moment. ♪ during walmart's black friday deals for days. every monday is a huge deal. get a $79 hp chromebook... plus other hot deals. join walmart+ and you can shop online 7 hours early! head to walmart's black friday deals for days. at fidelity, your dedicated advisor will work with you on a comprehensive wealth plan across your full financial picture. a plan with tax-smart investing strategies designed to help you keep more of what you earn. this is the planning effect. ♪ choosing miracle-ear was a great decision. like when i decided to host family movie nights. miracle-ear made it easy. i just booked an appointment and a certified hearing care professional eva

look at the chip suppliers amd, intel and nvidia down 50% for the year staggering. netflix had been the envy of the entertainment industry but now it's the envy of nobody. the stock down from 659 to 286 is better than it's been the envying included disney, a similar plunge after hitching its start to streaming at least netflix is headed in the right direction for the last few months and all these stocks i prefer it. tesla's nosedive from 385 to 169 seems to be on going now that ceo elon musk is in self-administered twitter purge tory he needs to use tesla shares as a piggy bank when the company is being raided by softer chinese sales. alphabet is going from 196 to 197 and never particularly expensive to begin with. i don't even know what to say about metaverse which has gone from 345 to 111. advertising declines, crazy spending, bet the farm on something new and different only one person can explain it. only apple has hung in there from 161 down to 150 big deal it doesn't have too much exposure to the advertising or enterprise businesses. that's what you want yet, a

how much of that spend management she's talking about, jon, will hit intel versus amd i know they'retheir house in order, but of course it has been losing market share to amd. >> oh, yeah. >> do you think elisa would say the same thing >> everybody can see the share losses intel has been taking the way that intel gains profitable share is by having better product in the market that's why they've got to deliver both sapphire rapids and emerald rapids which i was asking sandra about. >> all that execution. great stuff, jon. >>> after the break, mark zuckerberg says there is a new business we'll tell you about. do not go away even if you got ppp. and all it takes is eight minutes to find out. then we'll work with you to fill out your forms and submit the application. that easy. getrefunds.com has helped businesses like yours claim over $1 billion in payroll tax refunds. but it's only available for a limited time. go to getrefunds.com powered by innovation refunds. and i'm going to tell you about exciting medicare advantage plans that can provide broad coverage and still may save you mon

downgrade today of intel over at jpmorgan they say, look, it took several years of server cpu loss to amdo happen and an amazing chart of that process over the past years, and then in order to get it back, it will take years, and as they say, flawless execution. so, they go to underweight 32 target >> look, genoa, lisa su, the ceo of amd, likes to name her iterations after italian cities, and genoa came out this week and it's faster than anything intel has, and more importantly, it burns less she has been uniquely focused on how hot a chip is in order to be able to go to all the companies that are -- david, all the companies that do cloud are just gripped by how much energy they're using, and if you have a chip that runs cooler, you're just going to put it in for your servers. i think it's extraordinary how much people think about these things it's terrific. >> no, i -- using less energy is very important >> i think people have to understand that throughout the food chain, if you're gm, you're going to call new core and say, we need your steel because your steel is zero carbon, even thoug

thing that we were thinking about with respect to this is it took lisa sue four years to turn around amdis optimism and reason to stick with the position rather than sell it but we're not so optimistic that we're like doubling or tripling down but do we want to continue to hold it? yes. and do i think that intel will grow into functional earnings and get a reasonable multiple in the future yes, i do. >> do you want to go with this one? >> he feels sorry for me for oeng it. >> no, look, i've got to admit, i'm so happy not being in this stock. i've been in your seat for years. and it's just so unpleasant. but to be constructive here. i don't think intel is headed for the dust bin of history. not at all, jenny. from my perspective, i think there'll be a time that i'm in the name with you. but i've got to wait for the turn i see declining revenues and all the negativity out there and i want to wait for the turn before getting in >> i hear you. >> all right we'll do final trades, next. this thing, it's making me get an ice bath again. what do you mean? these straps are mind-blowing! they coll

if you have a longer term time line, get into amd, nvidia and marvell.more about it this thing, it's making me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done. i'm okay. >>> we're at session lows for the major averages right now you can see the s&p is down .8 of 1%. the nasdaq is down 1.6%. the dow is down fractionally retail earnings, a big piece of the puzzle with advance auto parts leading the declines for the s&p. we're going to be speaking to advance auto parts on "power lunch. that's going to do it for "squawk on the street. tech check starts now. >> good wednesday morning, welcome to tech check. we're live from rbc's global technology conference. nasdaq erasing the gains as they continue to grow into make or break holiday season more on the key te

companies there, that is, actually american companies, which tend to come down to one thing, namely amd, they said for a very long time that well, we, of course, we are glad that intel will receive the vote of a subsidy. it is pleasant somehow weaned from competitors and receives state support. but in general, there is, in addition to production. here are these chips for pc mobile phones and so to speak tablets and others, as it were, directions and it would also be nice to support, and the second point is that what you said is really. how much will it be possible to correctly provide logistical and most important personnel, because now feedback is coming from taiwanese comrades, american colleagues came to them to lure. experience, well, what to work for? no, he has been there for 30 years, if no one has been involved, our personnel is being prepared urgently for these factories and so on. well, i'll say it delicately. there are such very ambiguous assessments of american comrades. that is, they said there that there are loud children who understand silently, which means that they gene

and there amd and stuff, they said for a very long time that well, of course, we are glad that intelstate subsidies, it's nice when your competitors receives state support, but in general there is, in addition to production. here are the chips for pc mobile phones and tablets and others, as it were, directions and you would also be nice to support, and the second point is that what you said is really. how much will it be possible to correctly provide logistical and most important personnel, because now feedback is coming from taiwanese comrades, american colleagues came to them to lure. experience, well, what to work for? no, he's been there for 30 years by that no one was doing. our staff is being prepared urgently for these factories and so on. well, i'll say it delicately. there are such very ambiguous assessments of the american comrades. that is, they said there that there are loud children who understand little, which means that they generally behave somehow without pardon. and how they will work there at these factories is not very clear. that is, there is one political decisi

amd was up on positive comments from analysts. semiconductors, i would say that's fair right now.ish to slightly down. metals and mining, another group that's flat. so let's just call this a bit of a mixed open here with ark innovation, the weak mover look at s&p movers here. sort of a mixed crowd. amd's positive they had ubs baird had some positive analyst comments some of the pharmaceutical stocks opened flat to slightly on the upside. liu xi lilly is negative but it was positive amazon and tesla are weighing on the s&p. so, recent rally's been predicated on three positive events that we saw last week number one, of course, progress on the fed and inflation number two, covid lockdowns in china easing up a little bit and finally, some hope for progress in the war in russia and ukraine, capturing the strategic city of kherson there. so, the recent rally, we had the progress on there. covid lockdowns in china and russian invasion we're 11% off the lows in the middle of october. but the earnings are going down here so, that's the market dilemma right now. s&p 500 prices are rising,

actually american companies that have their own production, come down to one thing, namely intel and amdthey said for a very long time that well , of course, we are glad that intel will receive state subsidies, it's nice to somehow wean competitors from receiving state support, but in general there is, in addition to production. these chips for pc mobile phones and tablets and others, as it were, would also be nice to support, and the second point is that what you said is true. as long as it succeeds, this all correctly provides logistical and most important personnel, because now feedback is coming from taiwanese comrades , american colleagues came to them to entice them. experience, well, what to work? he is not there for 30 years, if no one was engaged, our personnel is being prepared urgently for these factories and so on. well, i 'll say it delicately. there are very ambiguous assessments of american comrades. that is, they said there that there are loud children who understand silently, which means that they generally behave somehow without pardon. and how they will work there at t

amd is signaling that inroads in the server chip market will bolster its finances.will talk fed policy and any sign of potential pivot with former world bank chief economist carmen reinhart. she is concerned about the fed pausing its rate hikes too soon. she says the funds rate has to get above the inflation rate for it to bring inflation under control. this is bloomberg. ♪ xfinity rewards is a program whose sole purpose is to say "thank you" with experiences big, small and once-in-a-lifetime. sometimes it's about cheering hard enough to shake the stadium! sometimes, it's as simple as movie night right here at home, on us. you mean the world to us. so we're bringing you closer to what you love. kinda like this. welcome to 30 rock! join xfinity rewards for free on the xfinity app today. our thanks, your rewards. hi, my name's steve. i lost 138 pounds on golo and i kept it off. so with other diets, you just feel like you're muscling your way through it. the reason why i like golo is plain and simple, it was easy. i didn't have to grit my teeth and do a diet. golo's a

amd outperforming, they unveiled new server chips which may help them sustain market share over intelless green on the screen when it comes to crypto. bitcoin and ether plunging further today. ftt, ftx's utility token, almost 90% drop in the last six days. ftx filed for chapter 11 bankruptcy and it has been an historic week. there's probably a lot more to come when we look at crypto. a lot of red there. summing up the bleak, we have seen a nice equity rally. s&p 500 up about 6% on the week. all of that related to the optimism of maybe the fact we have reached peak inflation. however, anyone skeptical of the rally, calling it a bear market rally, points to the fact that we are seeing the most speculative areas of the market likely arc innovation etf outperforming. people see -- people say that when you see speculative areas doing better, we are still in bear market territory. the best week for meta since 2013 after they announced layoffs. much-needed relief for that stock. caroline: always slightly painful when shares rise after cost-cutting. but investors always seem to like that. mea

s&p 500, dupont, amd, solid movement. seizures, another game issue on the upside.posite, which we've got? i'll finish with that. andy at the top. i want to know ten year treasury yield, just over 4%, 4.03%. price of gold, 1658. coin still in the narrow range, $20300. oil up to $88 a barrel. net gas 6.13. up 7%. the average price for a gallon of gas up 1 cent overnight, 3.76, back up again and diesel cost to 5.31 on average. coming up, what's mask for a long musk and twitter? want musk to bring it to texas and show make her case later on the show. a new "wall street journal" poll finds white suburban women have significantly shifted support from democrats to republicans. i'll talk to florida congresswoman next. ♪ check those markets after 11 minutes worth of business, dow down 100, nasdaq down 30. more democratic candidates turning to president obama for help on the campaign trail. lucas tomlinson at the white house. obama visited georgia, michigan, wisconsin, just in the past week. where next? >> he's heading to arizona this evening, the former president doing the

you have the chips doing well, amd leading the way after beating on profit dragging up nvidia as wellthe tune of 2.2%. apple is lower at about 1% after china locked down the area where the foxconn iphone plant is. amazon under pressure down almost 2% after news that amazon is hiring or freezing hiring and its -- in its advertising business. let us talk about the global supply chain. we got information from maersk talking about a slowdown in container demand and a looming european recession. domestically we are looking at ch robinson also reporting profits that were not to pretty and it is weighing on old dominion as well. guy: thank you very much indeed. there are a few things to talk about towards the fed but that is the next main event. that is -- the next 24 hours, it is all about 2:00 p.m. the fed decision and the news conference and we get earnings a little bit later. qualcomm robinette spent -- robinhood, etsy and booking. alix: tomorrow there is the boe decision. how do they look at the outlook when they are still uncertain when it comes to the budget and we also get the s&p se

came in a little bit light and that is # why you are seeing the stock up over 3% elsewhere you have amd0% off their recent highs i'll bring you amd's earnings after the bell and we'll be looking to see if data center sales fell off and if there are any lower revisions to their outlook which is what we've been seeing. it has been a challenging year with every single constituent trading in lower territory you can see for 2022 down over 30%. guys, back to you. >>> and a quick note as we go to break, if you want to learn how to maximize your finances and invest in a brighter future, join us virtually for cnbc your money, reblg sister at the register with the key word on the screen and looks to be like a great project. the pursuit is on. the pursuit of outperformance at pgim. with deep expertise to outthink across multiple asset classes, actively managing investments in the world's public and private markets. outscale, with the resources to serve 1,500 clients in 52 countries. and outlast, with long-term conviction that looks beyond today's volatility. join the pursuit of outperformance at p

amd he said i'm his boy! dad, i always knew i was your favorite child in this room tonight. this is better than a hug... from what i've read." ( applause ) what did i say? what did i say? doesn't really matter? doesn't really matter. his advisors were hoping for no more than 45 minutes, but the former president spoke for over an hour. which might be why a crowd formed by the exit of the ballroom, trying to leave the announcement speech before he had finished. but security wouldn't let them. always the sign of a successful event. "okay, take your seats. the piano recital will start shortly. please silence your cell phones. the doors are locked from the outside. clap loudly. we have your family." ( laughter ) start to finish, this announcement was a pathetic, drowsy word shamble towards snooze-ville. he didn't ride a single escalator. and during what little i watched, i thought, "i have never seen anything sadder." until the speech ended and the d.j. cranked up the jams, and this happened: >> ♪ it's fun to stay at the y.m.c.a. ♪ >> stephen: i have never seen anyone move more q

. >> we new consumer devices were weak but qualcomm talked about amd's preannounced, saying it 50% decline of the inventory they were carrying. in their case, the current quarter was good but they talked about 5g unit shipments being so in line with that revise their guidance. i think there is more just because they were over shipping to the channel and you will see that going through inventory which basically means the uptake of the next generation will be slow going forward. the problem was more highlighting at the high-end android which typically holds better if you think about it, weakness only at the mid to small tear then the high end because people don't pair back but in this case they talk about china being a big factor in terms of why. guy: they want to diversify. diversifying is what they need to do and they need to do quickly. why do you think it's not happening fast enough? alix: we are having some technical issues. before we get to that question, just to your point on this, where are we then in the cyclicality of the chips sector? mandeep: the stocks when it comes to the valua

you had amd yesterday and you have qualcomm today. a lot of chips covered on "mad money.indication for the tech sector. >>> as we head to break. history in the majors during the world series game four as christian javier and astros combine to throw the second no hitter in world series history 66 years after don larson's perfect game for the yankees back in 1956 this series now tied 2-2 with the phillies hosting game five tonight. what a pitching display by the tros good job we'll be back after this break >>> no pivot no pause that's the message from fed chairman jay powell. >> it is very premature to be thinking about pausing so people when they hear lags, they think about a pause that is premature to think about or talking about pausing our rate hike. >> he is contradicting himself putting the kibosh of anything resembling a pivot >>> investors seeking safety with stocks off the sharply lower session yesterday. futures right now are mixed this morning. >>> netflix rolling out its long anticipated ad-supported tier today. is it too little too late for the stock that is do

advanced micro devices, amd, moving higher by the 2.5% after getting two upgrades. cyclical trend and strong demand for the genoa chip. >>> well, chips and technology definitely one of the hot topics at the g20 summit in indonesia as president joe biden met with chinese president xi jinping for the first time since he has been in office. but was the three-and-a-half hour meeting enough to bring china to rational thinking? we'll go live to bali for a full report. and we are going to ask one of the nation's top experts on china trade if a new cold war actually is developing despite what both leaders said at the meeting between the top two economic powerhouses in the world. michael pillsbury joins us in a fox business exclusive. he always a calls it like he sees it. we've got the closing bell 29 minutes away. merck and j&j are at the top of the dow 30, home depot and dow inc. at the bottom. stay tuned, we're coming right back. ♪ ♪ ♪ ♪ we all need a rock we can rely on. to be strong. to overcome anything. ♪ ♪ to be... unstoppable. that's why the world's largest companie

amazon, despite word of layoffs from the "new york times," under pressure got amd with a double upgrade. helping that stock bitcoin ntngo ff. coinui tsuer >>> we'll be right back.et is te '? you should be listening to me. you want to be rich like me? you want to trust me on this one. [inaudible] wow! yeah! it's time to take control of your investing education. cut through the noise with best-in-class education resources that match your preferred style of learning. learn your way. not theirs. td ameritrade. where smart investors get smarter℠. if you have this... and you get this... you could end up with this... unexpected out-of-pocket costs. so if you're on medicare, or soon to be, consider this. an aarp medicare supplement insurance plan from unitedhealthcare. medicare alone doesn't pay for everything. and what it doesn't pay for, like deductibles and copays, could add up to thousands of dollars. medicare supplement plans help by paying some of what medicare doesn't... and making your out-of-pocket costs a lot more predictable. call unitedhealthcare now and ask for your free decision g

be in given that this is a theme we have heard from qualcomm, md, everyone is worried about the -- amdyone is worried about the slowdown. guest: it is no secret that smartphone demand is going off, everyone wants to know how far. there is a lot of inventory out there that customers have to work through, that will be going on in the fiscal first quarter for them in the next quarter after that. they did not give a specific date. they said basically this current quarter is going to be the worst for that inventory correction. even so there was a fair amount of uncertainty around that. kriti: a theme that i see in the chip sector is diversification, qualcomm cut its outlook for the smartphone outlook -- market three month ago. at the same time the ceo talked about diversifying into other places it products ago, what did that not healthy earnings -- healthy earnings? guest: it has helped over time and they are making progress, the problem is the size of the miss and the speed of which the cell phone market is coming down. three months ago they said single-digit percentage, now they are sayin

holidays have a good one if i don't take you head of that other stocks that we want to talk about, amddia, reiterated outperformed, nvidia 210. so, josh, nvidia, that's yourers. >> yeah, i think beth of these stocks could be range bound because in the end you get to a certain size in the semiconductor business, and you become subject to whatever is going on cyclicly. it's very hard to escape that. the thing that's held nvidia back is that this has not been a good year for gaming and obviously all the use of gpus and crypto have fallen off a cliff, and there's concerns about enterprise spend and data center and cloud and on and on and on so i don't think those are long-term issues and just think now wall street is particularly sensitive to those headwinds and it's hard to imagine one or both of these stocks breaking off to the up side if you're a long-term investor that's okay. >> how about the chips here? >> i think semis are interesting. if you look at the perform js of today they actually beat about everything else on the board >> that make sense >> it does make sense to a degree and

think the big questions for intel are first can they get their chip design business to catch up to amd whereby many metrics say they've fallen behind and, second, can they get their manufacturing processes to catch up to taiwan's tmc, 9 world's leader in terms of producing advanced logic chips and so it's a technological problem intel faces the next couple of years and by the time we know whether intel has sorted out those issue, i think we should expect the chip market has already turned around by then and intel's got the financial resources it needs to keep investing over the next couple of years, so the real question is can they turn around their technology >> chris, you talked about, you know, beijing's role, the huge investment the government has made into the chip sector but they haven't been that successful in developing high performance leading-edge chips so with now the u.s. export restrictions, does this raise the risk of geopolitical conflict around taiwan's role and you talked about the importance of tsmc >> it does on the margin raise the risk in the short term and i think

scott wapner we're just getting started key earnings reports about to hit the tape from airbnb and amdnumbers as soon as they hit. we'll start with our talk of the tape more trouble at the top, steady selling in the wounded mega caps weighing on the indexes ahead of tomorrow's crucial fed meeting let's bring in joe ter nova, a cnbc ctr

the nhs has been on the front page of last two days, we have had i page of last two days, we have had amdoughts on this front page from the daily express?_ daily express? i think there is reason there _ daily express? i think there is reason there but _ daily express? i think there is reason there but i _ daily express? i think there is reason there but i will- daily express? i think there is reason there but i will raise i daily express? i think there is i reason there but i will raise him, he is right, the figures here are 4.5 million but if you aggregate that across a total of 330,000 patients since 2020 working out at 844 pound per patient if you consider some of these people will be waiting years for the stream and i think that is a small price to play. and i think when they go to these countries, germany, lithuania, these countries, germany, lithuania, the problem will be treated as private patients. they will go from the uk, the nhs purchasing the services privately. if you consider we are constantly told every month about the year waiting list. at a record high than .i about the y