we'll ask dan niles about the volatility plus yesterday on this show we asked the ceo of u.p.s. how long supply chain issues could last. >> i'm afraid this is going to last for a while these issues have been a long time in coming and tacks us working together to clear the blockages. >> we'll explain in dollar terms how those supply chain issues could hit consumers in the wallets. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ >>> christmas! three months away. but many retailers are urging consumers to start shopping early. might be the message every year but this time not to grab the early sales. shortages will be real and prices higher from the congestion in the global supply chain. courtney probably the only person at cnbc that loves christmas more than i do and got a breakdown of the examples that we could be looking at. >> i wore christmas tree guillen in case we did this story today. you might have noticed emptier shelves and demand is expected to gt worse. there's a shoe example for cnbc to explain why it takes 78% longer for a shanghai-made shoe to get to the store and why utd costs 36% more now than b

. >>> coming up, shares of apple down about 2.25% today we will talk to dan niles of the is a torey fundhe tech rep, his concerns about apple and where he sees opportunity next we see increased efficiency connected to more comfortable homes. emerson's energy star™ certified sensi™ smart thermostat uses geofencing to simplify how homeowners manage comfort and costs. emerson. consider it solved. >>> welcome back to the exchange, everybody. tech stocks are getting hit hard as bond yields climb to help make sense, dan niles, founder and portfolio manager of the satori fund. great to have you here i don't have a ton of time and i want to rattle through about 18 different things so let's see how much i can get through big picture, what do you say to those that say tech is more vulnerable to higher rates because they don't have as good operating leverage from inflation and all of the rest? is the sector, broadly speaking, something to be avoided for the time being >> yes because all of that is true. the other thing is don't forget a lot of tech companies benefitted last year from the global pan

tech investor dan niles on what it means for the stock as consumers await the new hoipne cost me $13squawk box" is coming right back crafted by lexus. experience amazing at your lexus dealer. ♪ ♪ crafted by lexus. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ i had the nightmare again maxine. the world was out of wonka bars... relax. you just need digital workflows. they help keep everyone supplied and happy, proactively. let's workflow it. then you can stop having those nightmares. no, i would miss them too much. whatever you business is facing... let's workflow it. servicenow. >>> good morning news of a breach to apple's messaging app coming hours before they're about to wow the tech world with new apple watches and more. >>> plus californians go to the polls today to determine whether they'll recall their governor, garch new some this hour, a big interview w >>> house democrats are out with some actual hard numbers on where they want tax rates to be. we'll have reaction from house minority leader kevin mccarthy as the final hour of "squawk box" begins right now. >>> good morning welcome to "squawk box" here on

dan niles talked about it on the show on kelly's show earlier so google was really torqued for outsizederformance and i think you'll see that continue this year even in a negative backdrop for tech and the reason is is that tech value will continue to climb that ladder because tech value is what people are putting their money in and what holders will hold on to nobody knows the chemical names that are small cap, tyler, but everyone knows faang, right? >> yeah, absolutely. and these are sort of the blue chip tech stocks that will endure and probably be less buffeted, warren, by the currents in the market that's really the theory here, right? >> right so i have a visual for you so if you pull up the ten-year yield and if the staff could do that back in engelwood, pull up a ten-year yield and you see where it dropped off in march to just a couple of months ago, a couple of weeks ago lows in the ten-year yield f now if you look at the chart of google, it is inversely correlated to that yield so as yields came in, google climbed that ladder and the stairs it's a very good visual. apple did t

all lower here though some fans as well tech investor dan niles on cnbc today saying he likes alphabet strong growth and benefiting as economies reopen he says chips also under pressure. smh on track for the worst day since may. news street downgrading citing valuation and worries of a cycle peak micron reporting after the break today. cloud names worth highlighting all lower right now. zoom actually tracking here for the worst quarter since going public back in 2019 and adobe a worst day in a decade. rough sledding as we know. game delays weighing on the names and some bucking the trend today like activision settling for harassment and discrimination back to you all. >> josh, thank you for that run down let's get to bob pisani. bob? >> this is a lot, very tricky market energy we have been talking about. global demand for oil high and limited constrained supplies a great run in energy stocks names up 15% energy is 3% of the s&p 500. pile all you want into it. it won't move the index that much tech is 40%. and you can see they're still up today and a lot pushed to the limit as far as ho