metric they guided higher for the fourth quarter the one thing that concerns me if i may put my carter braxton worth hat, you have a massive top at 146 so the stock has to get off the mat and get into the low 130s if it doesn't rally tomorrow it is headed to 114. >> what do you think of the notion that the semiconductor cycle is peaking >> yeah, it is interesting and think everybody has their own take on that, mel. but when you look at applied materials, it got up to the 146 level and hit that a couple of times and had a hard time breaking through and pull back but the stock has man an incredible run it is a lot like the other earnings through the earnings season where we've had incredible numbers and even the guidance has been there and yet the reaction from the stock itself is just kind of a blah. and so maybe a lot of this feels like it is priced in maybe it is an opportunity for the stock to kind of go sideways for a little while and gather itself it seems like that we've seen a lot of that over time but i think there are other names that are more exciting to me within the space. when you

>> listen, dom you heard guy mention before armchair quarterback and then carter braxton worth i'm thechair technician. he is the professional when i say that's the best looking chart in the market there's very little credence to it here's the thing you see that consolidation it's underperformed the market sas. they just closed on that slack deal, which i did like they report earnings august 25th here i like that consolidation here i like the fact back up to that march high 250 if you get a breakout here on good fundamental news you'll be marching back to the high, 280, 285ish. >> you better hope you march back, dom chu. we've mentioned double tops a few times. this is setting up to be one into earnings on the 25th. i see what dan's looking at. what dan failed to mention is this is' stock that's trading close to 60 times, 6-0 next year's numbers the earnings to back that up maybe get to 285, you sell with both hands when it gets there. >> oh, wow wow. i like this. i like the passion here. >> that's what this show is about. it's about energy and passion. >> it is tim, i want to get a qu

and i know him as carter worth when did the braxton become part of it? >> such a good middle name >> but where did that -- that was never like that before >> that is his middle name though >> yeah, but when did he start using it >> you've always known him as j.j. >> he used to be joe >> i don't know. >> you think andrew was ever andrew sorkin? >> yes >> do you it was like a sag thing? >> i mean you should ask him he is your colleague >> that's ight i should i will do that at some point i know carter -- i think he goes to a similar spot down south i see him down there walking around yeah. >> very nice -- we live in the same building, nkt fachlt. >> you do? >> yeah. >> no kidding. of that's weird. i see him where he vacations and you see him where he lives. >> it's like worlds colliding. >> salesforce is higher. adjusted earnings of $1.48 a share beating estimates of 92 cents. revenue increased 23% year over year on the call, the ceo said he didn't think that the delta variant would be material for the business and if if anything only accelerated he echoed

worth >> carter braxton.did we decide to go with that >> we didn't decide -- >> it didn't use to be and i mean worth is a pretty good name for an adviser, too. >> it's very -- some names out there that really match the profession >> that's true we used to have phil dow on a lot. that was weird you know >>> coming up, it wasn't his thing. china out with draft internet rules overnight that could have an impact on some major companies. >>> later dr. zek emanuel talking about getting kids back in the classrooms. a reminder you can watch or listen to us live anytime on the cnbc app we're coming back. ♪♪ ♪♪ my son romeo has sought counsel with some strategic advisors. they suggest that we marry our fortunes with...the capulets. blasphemy! fear not. these advisors managed one of the largest mergers in history, creating billions in value. billions? plus, they have experts in global trade. this merger shall be a boon for our spice business. and set a course for growth. here, here! friars, send word at once. yes, m'lor

the ten-year, we'll see whether carter braxton worth is right. "squawk on the street" is up right now. okay ♪ >>> good thursday morning, welcome to "squawk on the street." i'm carl quintanilla with jim cramer, david faber at the new york stock exchange. s&p looks to extend its win streak to six as a new round of companies raise guy dand, salesforce, snowflake, jackson hole kicks off, jobless claims and revised q2 gdp are in line one fed president tells cnbc it is time to taper. >> we are keeping a close eye on covid. hospitalizations topping 100,000. that's the first time they've done that since january. >> and supply chain uncertainty, a number of retailers point to higher costs from manufacturing shortages and port backlogs. what rick rieder was saying about corporates and free cash flow and the guidance we're getting from the like force of salesforce and snow which you heard last night on your show. >> i'm so glad you went with what rick reeder was saying. that is the theme. the cash flow of these companies, salesforce, extraordinary. just mak