weiss is buying asml, too, and i want to buy that for the same time period. you can't criticize jimmy at all. >> i didn't -- >> you were trying. believe me, the viewers didn't have the benefit. it was on a single shot at that moment. i had the perspective of everybody, and when he was talking i was looking at you waiting, and i thought scott bought asml, what is he going to say? >> everybody you know has a buy on amat -- >> is that a rhetorical question for yourself? >> here's my answer. you like my setup? well, amsl, they are under appreciated. >> under appreciated? >> it is, believe it or not because it's under followed on the street. they don't know why they are buying it right now. here's why they are. they have a new machine that is out, and by the way sold out which is extreme ultraviolet. it allows chips to hold more circuits, so for them to be more robust. they have just started getting out there. it's not really noticed by the street all that much, number one, and number two, that is what is going to arm the companies like microsoft and apple and all

next up, citi calls out the asml company. their equipment is the size of a bus. okay. now, a city bus. this is another industry with a handful of major players with limited competition, even here asml stands out for being reliable. it could be a 31% gain since the beginning of the new year. when asml reported in january the net bookings coming in at 9.2 billion euros: that is up 258% since the previous quarter. staggering pick up in new orders, that is what wall street likes, the u.s. is trying to block the chinese from getting asml's best machines but the company crushed the numbers. the third one is an exciting one for a lot of people out there. lvmh. this is the largest of luxury goods on earth. built by the world's richest man. high end apparel. l lewis vuitton, bulgari, dior, fendi, veuve and more. champagne, they have a lot of them. go for the gold we served at our wedding. it completely irrelevant. they own sephora. we did not have our wedding at kohl that also features them. they are aimed at the rich. they delivered a blow out quarter, the stock has been a phe

asml. lvmh. schneider and richemont and novo nordisk. what made you put the list of stocks together? what is the characteristic of the super 7 to our magnificent seven? >> what we noticed this year is there has been an interesting dynamic playing out in the european market. european markets are doing well. out performing the u.s. it is happening with the narrowing of the returns to these few stocks. we heard about narrowing in the u.s. last year. it did not happen in europe. that is a new dynamic. there is a catch up of the european market from the perspective. of course, caveat here is i would like the broadening of the market with circumcyclical marke is a normal situation we are having righto the catch up of last year. the risk is the market narrows further this year and then we search for the characteristics of the magnificent seven that we could find in the european markets. we looked for superior growth and superior margins and also for economic moves. these are the companies that tick these boxes. >> we will continue it show the l

this is moving the market here with the semiconductors and asml and amd.ll of the stocks are 3% weaker. semiconductors are 10% on the down side. it does follow on from the nvidia story we have been making note of as well last week losing 5% and taking out $130 billion of the market cap. a big drop for it and perhaps an easing in the market. it has had a stunning gain this year. 75% gains year to date. last year? 63% of gains for nvidia. on the upside in europe, grifols and then hellofresh is dropping off on the day's trade. here are the chip stocks here. a decline not from all of them, but for primary number of these have taken a bit of a downfall. semiconductors with the biggest decline following the nvidia story. steve. >>> palestinians are preparing for a somber ramadan as hopes for a cease-fire between israel and hamas stalled. israel increased security in the old city of jerusalem where worshippers are expected at the mosque compound. the holiest site. u.s. president joe biden is pushing for a cease-fire and long-term stability. speaking to msnbc, the

so, for example, asml, valuation will go from 40 times to 25 times over the next year. so why pay taxes on all that? i think it's just a time for caution, not to put new money in the market pending what will happen with the fed and valuations are still inflated. >> okay. you're not a first in, last out, you're just pausing, taking a minute -- >> i'm not putting more money in the positions. it's difficult enough. a concentrated book that i run. why add to the concentration. >> i see. brenda, you've taken some profits in this area? >> we did. late last week we did trim nvidia and meta for the majority of our clients, really recognizing there's nothing wrong with the fundamentally story for both companies, but there is a lot of good news, we think, baked in when we look at even with meta. amazing focus, refocusing, on margin improvement and margins beat by 7% in the fourth quarter was phenomenal, but it's a question of what happens going forward, what's already baked in there. the stock has had a huge move up in terms of the market multiple, focusing on the core business.

the production of microelectronics, payments to from them only the netherlands, where the company asmling manufacturer of lithographic equipment, last december grew by... 1.0%, by the way, some of the orders were eventually canceled even before the new restrictions already announced by that time came into force, now in the usa, apparently, all these transactions are being analyzed again. china, it must be said, also responds with sanctions and restrictions. just this week it became known that beijing has banned the use of intel and amd processors in computers for government agencies. according to a document cited by the register, 18 processors are recognized as safe. there are no western brands on the list at all. however, the only approved processor based on the x-86 architecture familiar to computers is produced by shanghai integrated. circuit company limited outside share belongs to the taiwanese veotechnologies, which has a license for the x86 architecture and which once tried, if not to become a global competitor to intel amd, at least to find its place in the segment of low-cost

asml has done well in europe. some other asian names doing well. seema: there's a bit of both.ypically on the part of that text which can do well. but it's also about looking at the past markets and other regions which evan performed as well. so that has been some interest in small caps space but hopefully looking to see that they know what the fed will do that they will start looking deeply into that area. other parts of the market which are not tech focused, where valuations are really interesting. the other stories are quite compelling. what we are seeing is even outside the u.s. tech space, that still doesn't mean they're taking away from u.s. tech either. ed: we would talk about what supporting the large mega cap tech space in the united states pre-earnings are strong. even if you debate the timing of rate cuts i think most people still think rate cuts are coming this year, the thing supporting all of it is this investment cycle driven by ai. how much carrie does that give us through the end of the year if you call a tailwind how long does it flow? seema: i would say that

asml and lam research. you know, we look forward to reentering the positions, including nvidia, potentially at lower levels. >> let me scjump in. you trim the chips, but you are looking for opportunities to get back in. you gave us a playbook. you think the markets will see disruption or a downturn. if there is a pull back under 10%, you go more defensive along with bio-tech? if we get a correction, you will jump back into the magnificent seven? >> we are looking for opportunities to continue to own these names and build them t tactic tactically. growth is 3% to 40%. fl inflation is coming down. fiscal policy is accommodative. we think they are more stretched including the a.i./semi trades. we have the net exposure which is skewing high right now. we do like equities, but we are opportunistic in sectors. >> vince, thank you. >> thank you. >> for more on what is driving the markets, go to cnbc pro for insights and analysis. >>> a lot more to come on "worldwide exchange," including the one word investors need

. >> it is about our semiconductor companies like asml is not aimed at one country specific.e try to make sure the impact is limited and not impacting the supply chain and therefore, not impacting the overall economic relationship. >>> chinese smartphone company xi ark xiaomi will release the ev today. it will take on orders today arjun joins us with more if they are successful, it h highlights another misstep for apple. it ditched its ev or car intentions what we're talking about here is the largest connected device that apple is not a player >> certainly one thing on the flip side is the chinese market is a unique market for evs whereas apple would have played in the u.s the chinese market is a step above many other markets with the ev the infrastructure is growing quickly. there is appetite for the vehicles out there xiaomi has a strong brand within the chinese market people like their phones and rice cookers and tvs all the fun stuff. everything this is part of the extension of that play as well. if this is successful, apple will look at it because it has a strong brand i

additional tightening and this would affect some of the most valuable companies in the world including asmlolding which makes the chipmaking equipment out of the netherlands that's really the most advanced in the world. >> peter, how does this narrative potentially change after the november election? peter: that's a very important question. of course, this effort is coming just as we are months away from the election just after we really have seen a decision about which candidates are going to be put forward for both the democrat and republican party with joe biden and donald trump. both parties -- one of the very few things both parties can agree on is they want to be tougher on china so i think these steps about restricting china's ability to get access to semiconductor technology is something supported by both parties but it is supported in different ways and to different degrees and also the cooperation with the allies is something that varies between the two parties so that biden administration has been reaching out to its allies to try to get support on these different fronts. the ten

asml at 4.6% higher.nfineon up 3.1%. >>> let's get to reddit. $34 per share is the top range valuing the company at $6.5 billion. the offer brought in $21 million. big difference with pinterest which is popular. reddit is not popular. the ninth most popular in the u.s. which is low. we have been talking in weeks where tiktok is front and center because of the popularity of the site. what gets interesting is it is coming to wall street. this was the company that had the meme names. you saw retail traders trying to outrun the hedge funds. it is coming to wall street. let's see what the market does with it with the valuation no longer $10 billion back in 2021. it is now $6.4 billion. will traders or investors see value with this company? >> you know, i spent a lot of time listening to experts on technology and the rally in technology. it seems very, very clear that the difference between this and the dot-com bubble is these companies make money and diverse revenue extstreams. you can see nvidias of the world

doordash, meta, asml are some of the biggest year-to-date on the nasdaq 100.n the session the nasdaq 100 is basically flat this thursday in a shortened trading week in the u.s. let's get to our top story. the judge presiding over sam bankman-fried's sentencing will decide the future of the fallen crypto mogul. prosecutors are seeking a sentence of 40 to 50 years for what they have called, "likely the largest fraud of the last decade." david gura is on the ground outside of the courthouse in new york city. what is happening right now as we speak? david: this is a pivotal moment. sam bankman-fried is on the stand addressing the court. we have a variety of litigation about sentencing guidelines , with the judge might or might not do. he has taken the opportunity and he's not speaking from notes. he's giving an off-the-cuff address to the court. an open question going into the proceedings was how much remorse is sam bankman-fried going to show? he said a lot of people feel really let down. i'm sorry about that. i'm sorry about what happened at every stage. from th

asml it's a great story that's under the radar, but they will be the lead in the second half for ai >% on sabra health care a very well managed investment trust. >> joe t >> a valuation stock that is breaking out, steel dynamics, stld. >> a nice move today see you on "closing bell." "the exchange" is now. >>> scott, thanks so much. welcome to "the exchange." i'm wilfred frost in for kelly, vans >> the fed going down to one rate cut is the market ready for more how to position against that black drop dave calhoun set to leave the company by year's end and we'll talk to an analyst about what's next for the company and the stock. this week, we're going around the world to find opportunities around the world and we kick things off with china da

but also asml we were just talking about it right before this, they've just got new products coming out. they will be arming meta and microsoft and intel. so amy has owned it for a while, i own it. i think the future is bright there. but it's not cheap. go out a year and a half it's 25 times. >> this is a question about momentum which is why i saved joe for last your whole investing strategy professionally is around momentum, obviously. >> yes. >> if you look at whether we're in early stages, early innings if you will of a momentum rollover, where you're going to have money going into the laggards, meta, amazon, salesforce, broad com, uber microsoft are all lower. apple, tesla, alphabet are all higher. you're all over the list of the biggest winners since november 1st, whether it's your amd or your crowd strike or your palantir, broad com, salesforce, aris ta -- that's just for startings. you have all of these holders and all are up from the most recent bottom. >> yes. that is why i have the overlay of quality on top of momentum. exactly for the sbienvironment t you're in now. when mome

samsung rivals like tsmc and asml set to be awarded that grant. tsmc also in negative territory.i surging more than 8% right now after profits soared 30%, boosted pretty much by is ai hardware sales. shares up about 15 or so year to date. traders gaining a growing share of the ai business. take a look at where we are in terms of gmm. of course, it is trepidation, red pretty much across the board as we await the boj as well as the fed. that is it from "bloomberg markets: asia." "daybreak: middle east" is next. keep it here with us. this is bloomberg. ♪ announcer: the following is a paid program. the opinions and views expressed do not reflect those of bloomberg lp, its affiliates, or its employees.

is a -- there's still a big perception gap amongst global investors when we talk about investing in asml example, do we worry about dutch domestic economy when global investors think about japan and techic tokyo el, they worry about that. so we invest in japan corporate profit growth, which has been robust over the past decade. going forward, it has been and will benefit from global manufacturing cycles, and on top of that, there's apple upside with regards to increased share of buybacks and dividends. >> talk me through that, the sort of sense of shareholder returns and the priority that management gives to shareholders, is there a lot of dividend payouts at the moment what are the yields on the key names you own? >> so currently, the japan market on average is -- the dividend yield is about 2% buyback last year was record high at $65 billion, which buyback yield is about -- 1% to 1.5% the important thing is corporate japan is sitting on $1 trillion of cash on balance sheet more than 40% of the japan listing companies are net cash so unlike the u.s. companies, which is borrowing money a

leaders are attached to important semiconductor businesses and that would be on semiconductor, kla, asmla semiconductor name and docusign. costco is going to be a big one because what you can read into those numbers, the health of the shopper, the health of the consumer. of course it is a discount operator. if you see those numbers looking really, really strong, what is important to note maybe that is a sign that -- let me check costco. costco hitting a record high, $787 today. right now at 785, still a record, a gain of 1.6%. all of those numbers and more. tomorrow we are all over any reaction to the state of the union address and the markets once again on that friday. we shall see. we have the crowdstrike cofounder and ceo kurtz, bank of america head. she will join us and talk about her higher s&p call. [closing bell rings] that will do it for "the claman countdown". larry kudlow as speaker johnson. larry: hello, folks, welcome to "kudlow," i'm larr

it's done absolutely nothing, it just doesn't look as sexy next to a micron, nvidia, a lam, taiwan or asml >> therein lies the story i'm paying attention to that a lot of stocks, not just in tech, which have languished -- i mean really languished -- and i've taken heat, appropriately, for hanging on to them for a long time, have recovered outside of tech look at financials, industrials. look at energy, right? one of the things i get laughed at for holding quite a bit, gm i almost don't want to mention it because it's a jinx what a run from 24 to 44 i have to say this, when the uaw strike was settled and all the headlines were, look at how the uaw pulled one over on management there, ha ha don't believe headlines. do your own research >> i'm kind of hoping fortinet was a dog last year, i'd love to buy that if it pulls back, and it could in a day. we know how volatile cyber security is. it's going to be a total addressable market and that's lowballing it. every day we hear about cyber attack, even cyber security companies are having sibcyber attacks. you're seeing a consolidation. companies

unbelievably powerful for artificial intelligence, but then you've got amd, the chip makers, kla, you've got asmlys so many other names. is there a winner emerging -- i'm sure you're going to say nvidia but in that chip world, is there another winner emerging at the moment? >> well, let's say this, if you rewind the clock 20 years ago, there were a lot more chip manufacturers around the world and chip designers around the world. the chip industry itself is consolidated and, you know, in the case of nvidia, they took a bet around parallel computing that nobody else really focused on. it was the ark tech travion green drove gaming and the architecture that drove very limited applications and parallel computing and just so happens it's the architecture that's driving transformer models that sit under all of ai compute. now nvidia managed to not only build an ai chip but a chip that will replace on the accelerated platform a lot of things we traditionally relied on cpus to build. it's great for america and nvidia is a american company and $2 trillion business and it is the single best chip and it's l