vote yes or no let's get a check now on some top stocks kristina partsinevelos is watching as we head towards the close. >> the same macro concerns weighing on the broader market appear to be overshadowing a very strong quarter for walmart. the retailer beat estimates and raised full-year forecast. the cfo john david rainey told cnbc there was modest improvement in sales of big ticket and discretionary items nonetheless shares are down 2.5% right now. >>> hawaiian electric is falling as the utility company is in talks with restructuring firms over its potential liability in the maui wildfires the stock is trading at the lowest level since march of 1985, heading for its worst week ever, down 65 -- over 65 percent. today it's down 21%. >> see you soon. >>> we're just getting started here on "closing bell. up next, betting on a bull market chris hyzy from merrill and bank of america private bank is back breaking down his strategy as we wrap up the summer and look towards the end of the year. we're live from the new york stock exchange you're watching "closing bell" on cnbc. the dow jones

shares up 7.5%. >> thank you, kristina partsinevelos. we're just getting started. up next, signs of life in the ipo market? arm holdings filing for its ipo this week. is this the start of a bigger boom in public markets? we're joined just after the break, we're live from the new york stock exchange and you're watching "closing bell" on cnbc. 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. pano ai chooses t-mobile for business for 5g solutions... ...because t-mobile helps pano ai innovate, so they can stop the spread of wildfires. now's the time to see what america's largest 5g network can do for your business. wow, you get to watch all your favorite stuff. now's the time to see it's to die for. and it's all right here. streamin

let's get a check on top stocks to watch from kristina partsinevelos who i know is watching nvidia. >> i'm biased. >> but you will tell us about other names. >> i want to talk about retail stocks, they're on the move today. abercrombie & fitch, i talked about them three times with colleagues today it's at the highest level in a decade after hiking its full-year sales guidance abercrombie & fitch up just over 22.5%. williams-sonoma also higher on an earnings beat and improved market outlook, up almost 13%. foot locker, not the case. heading for its worst-day ever after reporting a sharp drop in sales due to ongoing consumer softness that's weighing on nike, which has already been under pressure and now heading for its longest losing streak on record, almost down 3%. there's been a lot of talk around the retail theft world, shrink this week truist says avery dennisson could be a beneficiary avery makes the smart labels that can track theft and stolen products shares are up 3% $182 shrinkage. scott? >> thank you we'll see you in a bit >>> we continue to count down and ramp up to nvidia's

kristina partsinevelos is here with that. >> let's start with shares of horizon therapeutics they're jumping about 5% right now after the federal trade commission said it would pause its challenge to amgen's $27.8 billion purchase of horizon. recall that ftc filed this lawsuit against amgen's takeover in may arguing anti-competitive practices within its treatments for thyroid eye disease and chronic gouts, the ftc's change of heart occurred over the weekend as it considers a settlement to allow the deal to close with conditions. shares of boston scientific are 5% higher and one of the best performerson the s&p 500 after positive results from a trial from its system to treat atrial fibrillation, it occurs in the upper chambers of irregular heartbeats and that treatment [ inaudible ] shares almost 6% higher. >> kristina partsinevelos. >>> we're just getting start heard. coming up, breaking down the charts top technician, jeff degraaf flagging the one sector he thinks could be on the verge of a breakout as we head into the end of the year. he makes the case next we're live from the new

that's frank holland kristina partsinevelos, wolfspeed. what are we looking for?speed does make silicon in a product that is squished into really thin layers the company has been expanding in new york and north carolina and one of the focuses on today's report will be on capital expenditures, how much is wolf spending and where are they getting that money? we know they signed a deal with a japanese powerhouse to create wafers and got debt financing from apollo, pretty much a $2 billion cash injection. what about execution how long will it take for these plans to be fully utilized goldman-sachs and deutsche bank both believe results will be muted for wolfspeed and they have maintained cold ratings until we hear more about wolf's plans to ramp production and cut costs. scott, just last week, i was at wolfspeed's new manufacturing hub in north carolina, and the ceo told me that the new plant should provide ten times the capacity of its other north carolina plant, so now we wait and see if and when that materializes >> yeah. kristina, thank you. cisco is going to be c

our kristina partsinevelos here with what is behind today's move. >> hi, carl. another day passes, another bullish analyst report, this time hbc analysts raised their price target to 780 bucks. the argument across the board is simple, nvidia is the only ai chip game in town. the strong demand for ai infrastructure will continue to outpace supply, which is already constrained, and everyone seems to be just clambering to get these gpu chips. even today the telegraph reporting that the uk is looking to spend over $125 million u.s. on gpus, which could include 5,000 nvidia chips. bulls are calling for data center revenue to jump to $15 billion in future quarters, versus the $8 billion estimate for q2. a contrarian view, nvidia's ability to guide materially above the current level is, quote, highly unlikely. if supply is tight, how are they going to keep guiding that much higher right now? the few other concerns, this current gpu shortage and gold rush mentality are almost certainly leading to double ordering right now, which might be especially true in china due to

kristina partsinevelos is back with that. >> this is the calvin klein parent company. they raised their earnings outlook for the year and said they're seeing strong performance, especially internationally and in asia, and that's why shares are up about 3%. it's not the case, though, for chip maker ambarella having its worst day in a year as weak revenue outlooks overshadowed a lighter than expected loss. td td cowen downgrading. they're used in video processing versus all of that ai hype. they say the downgrade is painful as they still see long-term promise for this company, it's still a ways off, and that's why shares are down 18.5%. scott. >> wow. christina, thank you. we'll see you in just a bit. >>> we are just getting started. up next, counting on a comeback, salesforce results they're out after the bell. the stock's already up like 60% year-to-date, nonetheless, he makes his case after this break. we're live from the new york stock exchange. you're watching "closing bell" on cnbc. you got this. let's go. gobble gobble. i've seen bigger legs on a turkey! rude. who

kristina partsinevelos is back with that.uh-oh, more quality issues with boeing 737 jets bringing down one key supplier. i'll explain next. is back now at lucky! come kick off the season with our shop and score game that'll have you cheering for more! play for a chance at over 25 million in prizes and money saving offers - like this and this, or even this! or try to win $100,000 in guaranteed prize money. shop your favorite brand sporting the monopoly tag for unlimited game tickets and get ready to win at lucky! >>> 15 before the closing bell back to kristina partsinevelos now for a look at the stock she is watching. >> autodesk is up about 2% now after its q2 revenue and guidance beat expectations the firm touted its ai offerings and work flow products for what should drive demand higher the second half of the year. william blair rated outperform citing diversified end market exposure shares of boeing, though, moving in the opposite direction after the aerospace company said deliveries of 737 max planes will be delayed becau

and kristina partsinevelos on what to watch out for. palo alto's release. rarity to say the least. how about this move late in the day? getting a little green across the board. >> at least a sense out there of relief that it's not one of these daily self-reinforcing sell-offs. we still very firmly have this multiweek down troend in place. it shows a little bit of calm in the bond market. goes a long way after we've gotten just slightly oversold in stocks. still not the broadest rally, but i think it's -- it makes sense that we're able to at least find a little bit of footing. we have options. expiration, maybe that does cleanup positioning a little bit going into next week. >> and courtney reagan, speaking of next week, what about the two retail movers today. give me that first and we can look ahead at what's at stake next week. >> ross stores did report the results after the bell, so today was the first day of trading that we got to react to it. really, it was very strong across the board. this is an off price retailer. it has a model like a tjx and it rep

kristina partsinevelos is here with that. >> pdd holdings jumping today. executives said they saw a positive shift in consumer sentiment which fueled a rise across several product sectors for the company. they saw a boost from price conscious condition assumers. the company have been investing heavily in discounting and coupons to lure customers. shares are up 15%, 16% at the moment. to citi. citi seems to think the tides could be turning for verizon and at&t, upgrading both to buy. they say the wireless environment is starting to stabilize which helps operating margins. both stocks getting a bump today. verizon still trading near its lowest level in over a decade. at&t hit its lowest level just this -- the lowest level since the '90s, and it is not too far off, $14.73. scott? >> we're just getting started on "closing bell." coming up, capital welt planning seven simpson breaking down his latest moves. we'll reveal how he's putting his money to work as the summer comes to a close. we're live at the new york stock exchange. you're watching "closing bell" on

. >>> let's get a check on top stocks to watch with kristina partsinevelos as we head into the close. kristina. >> thanks, scott. let's talk about okta, having its best day of the year after earnings and guidance surpassed analysts' expectations. shares are up over 12%. there's a number of analysts on wall street right now raising their price targets on the software name including evercore. analysts over there upfwrading okta to inline from underperform saying the business seems to be stabilizing, and its risk reward is more balanced at current levels. palantir shares are lower after morgan stanley actually downgraded the stock to underweight with a price target, upgrade, though to $9 a share. analysts are saying fundamentals are pretty much mismatched with the enthusiasm over artificial intelligence, especially since they expect delays with how quickly palantir's ai platform will contribute to revenue. in other words, cashing in on ai isn't as easy as promised. shares down over 8%. >> not for everybody, kristina, thanks. >>> we're just getting started here. up next, countdown to broa

kristina partsinevelos is here with that. hey, kristina? >> we have a couple tech etfs i want to get to, in danger of the semiconductor is down over 3% so far, on pace for back-to-back losses you see can see the and sky also down over 3%. uponen paycom is weighing it on it mike >> kristina, thank you very much we'll talk soon. >>> we are just getting started here up next, much more from the exclusive interview with jamie dimon. his takes on the banks, regulation and the overall market all the highlights after this break. the dow is down 350. you're watching "closing bell" on cnbc. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. >>> welcome back to "closing bell." jamie dimon sat down with our leslie picker for an exclusive cnbc interview within the past hour leslie joins us live from montana with the highlights. >> you can pote

>> that was our kristina partsinevelos. let's daesh deeper and bring in rubin roy.hanks for being here. >> thank you. >> kristina has spelled it out. i think you're a bit of a contrarian. give us your price target, your rating, and what you're looking for in this report? >> right now we're whole rated. we've been a little bit of a contrarian here. i certainly wouldn't argue with an anyone. nvidia is key. not just the chips but also the networking that goes behind the chips and the software. so really great position. the cloud service provider reported recently. as chkristina mentioned, it's lower. >> what would move it lower and what would you need to see in this report to make you put a buy rating on it? >> sure. kristina mentioned supply, and i agree. there's a little be it of a potential issue over the next several quarters with supply and nvidia to meet the demand out there. that's one thing we'll be looking for. i think expectations are universally positive for a guide that's higher than consumer estimates as they said here today. that's sort of the way the tab

kristina partsinevelos joins us with a progress report hi. >> you're right.s been a year, but not $1 has been dispersed yet. companies like wolfe where i am right now are already spending money, despite not getting any funding. that's not the case, though, for all chip companies, companies like skywater have said they have to put their plans on hold until they receive that federal aid. >> we've been building coalitions with the construction industry so that once funding does start flowing, we can begin to start that process as quickly as possible, so, you know, in terms of industry speed, made it's not as fast as we would like. >> reporter: that finding isn't expected to arrive until the earliest at the end of this year and that 53 be there is going to be split over the course of the next five years. >> you know, i'm pushing the team to go fast, but even more important, to get it right >> reporter: but getting it right is going to be tough companies are not only going to have to spend money on construction, they have to work with local schools, educate and fi

. >> kristina partsinevelos to my right here has sat down at a perfect time for a segue about nvidia, right. the street is getting more bullish. the stock has had a nice little bounce let's put it up again, please. it's down a little bit today but has had a nice couple of days bounceback >> it's a lovefest amongst analysts they're getting more bullish every day there's a new price target increase from whether it be wells fargo, deutsche bank, baird. you've seen at least six come higher on nvidia the main thesis we see across all of these analyst reports is that companies are spending more money on ai builds, and nvidia is the leader right now, by providing the ai chips, the gpus there are no competitors in sight. they will continue to gain that market share it is an argument for near-term success for the company, possibly in the next guidance, the quarter. the other successful factor, i guess, for nvidia is demand coming from china, front running a lot of orders because of export controls. we learned from the "ft" saudi arabia is purchasing nvidia chips. you have china, a bunch of com

. >> you don't speak to 50% -- you don't see many stocks, kristina partsinevelos, at 50% since their last earnings report since this was done in three months. that's what nvidia has done. you're all over this company and will be covering the earnings in "overtime. what matters most? >> data center revenues. that encompasses ai and all the chips we're talking about. the estimates are $8 billion for this quarter $15 billion in the following quarters i think what steve was trying to point out, maybe i'm misinterpreting it, the lack of momentum going forward nvidia can't keep blowing out of the water each time 50% above analyst estimates. and part of that thesis could be supply the supply chain, the fact that nvidia is reliant on tsmc to produce the chips. if they can't get the parts, how are they going to sell the chips? they have every single person wanting the chips from saudi arabia, uae, united kingdom, the smaller players, too, want to buy these chips. the utilization rates at taiwan semi has to go up. they can't completely jump from where they are here to 50% more within a few mon

kristina partsinevelos here with more hi, kristina >> hi, mike. silicon cared by producer and where i am in north carolina has opted to start construction even though they haven't received any federal aid. however, other chip companies have had to keep their plans on hold listen in. >> we've been building coalitions with the construction industry so that once funding does start flowing we could begin to start that process as quickly as possible. >> well, it's not as quickly as many of these companies had hoped because the commerce department has to sift through 400 statements of interest seeking funding. they are so overwhelmed that they had to hire 190 staff members to sift through the applications and help disburse the $53 million over the next five years and companies won't see any of that funding until the earliest, the end of this year and then they can start continuously hiring that talent and hope that these factories don't sit empty. mike >> i was going to say, kristina, presumably it's not keeping things from getting started, this lack of

kristina partsinevelos joins us now with more. good to see you.an ives, by the way, who loves this stock and he covers it, put out a note yesterday. he said it was -- >> the biggest eyesore -- i have it actually. i'm going to mention it. >> today he told us it's simply because they did it on friday night, fears of a horror show. >> oh, wow. that's even worse. he's getting even more -- >> he said the bark is likely worse than the bite, but still, one of the worst ir moves ever according to dan ives. he will be on "closing bell." i digress. >> the company since they announce that had on august 2nd the stock has dropped 18%. dan ives' point, speculation the company could be hiding something bad since maybe attention tends to dissipate on friday afternoons. guidance, though, is a concern. competitors nfortnet say it will grow in december 2024 quarter down from 18% in the june quarter, down from 30% in the march quarter. and earnings were also soft at fortnet. in the palo alto press release, though, they did say they would provide full year 2024 guidan

kristina partsinevelos has a look ahead to that report and how many times do we think they're going to talk about a.i. >> if we use intel as a barometer, intel mentioned a.i. 58 times for amd's q2 quarter we're expecting lackluster results due to weak data center sales and a slow gaming market let's take, for example, intel latest report shows continued inventory levels and the wallet share is moving to more expensive a.i. chips and away from traditional servers those traditional servers, known as cpus contribute 26% of amd's total revenue. of course, there could be exposure that's much of the reason why we've seen amd stock pretty much flat over the last month compared to the over 5% uptick in the smh and the stock's etfs. amd could differ from intel post earnings in two ways one, cpu market share went up in the first quarter where as intel went down. secondly, amd is set to launch its own a.i. in q4 it has orders from microsoft as well as amazon that a.i. chip alone could be seen as a catalyst for more bullish estimates for amd if it's launched on time. there's some concerns about th

kristina partsinevelos now with a progress report. tina >> we're celebrating almost one year and construction sites like this have been popping up and they created this facility here in north carolina each though they have not received any federal dollars. i poke to ceo greg lowe, and he told me they're spending as much on all of this as they're getting on an annual basis listen in. >> our capex on percent of revenue and getting government support to build this technology will be roleally important. other companies have had to put their plans on hold because they haven't received government aid. listen in. >> there is no commercial, viable way to bring support which is yet chips act was passed in the first place. >> this chips act consists of $53 billion which will be dispersed over the next five years. the earliest that companies will see money is at the end of this year listen in. >> you know, i'm pushing the team to go fast, but even more important, to get it right >> so the commerce department clearly has their work cut out for the

kristina partsinevelos tim seymour, what do you think of the quarter >> well, the quarter was not as good as people wanted. after a 30% move in the stock, despite trading 14 times, so, not expensive and -- i think relatively interesting, that's what you get we haven't had this smartphone recovery that was the whisper coming into the numbers. they've reaffirmed at least a high single digit drawdown in handsets you add that to still an inventory clear, which has been headwind to margins, so -- the numbers aren't terrible. the move of the stock going into this was 30% off the recent run. tops out at $135 twice now that's major resistance. >> yeah. grasso >> and the -- i believe the 200-day moving average is right around 120, between $119.25, somewhere around there when you look at qualcomm, if phones are weak, the stock's going to be weak it's -- there's very few names in this industry that you have this equals that, qualcomm -- phones weak, this is weak. >> and apple -- >> exactly >> apple >> is everybody else losing but apple is okay? or -- >> or is apple not okay? >> right or is appl

kristina partsinevelos >>> next up, we'll turn to retail credit suisse raising their price target on walmart to $180, expecting momentum we'll also hear from competitors in retail earnings season next week senior retail reporter courtney reagan joins us with more on what we can expect it is interesting to see the wall street analysts continue to love this stock, walmart, even as it's maintained near record highs, right >> it is the report you point out here, credit suisse, is looking for another $19 upside here if you go by their price target they moved up here today. it does seem wall street analysts are favoring walmart over target when you look at a trade of two retailers we often compare to one another they like walmart with continued share growth in groceries, which is something that numerator data put out recently saying, look, walmart has gained in grocery share over the last year they're getting more than 25% market share in grocery. of course, we know that's a repeat trip driver credit suisse also thinks they've seen transaction growth, growth in private label business impor

. >> that's a perfect segue to bring in kristina partsinevelos, who covers all of this, as we look at what this means for everybody else we know what nvidia delivered. take me the next level >> to your competition point in 2023 there is no competition amd's chip, and josh was saying, no, they're not, it's expected to come out in q4. lisa sue said 2.4 times the memory density and will be cheaper. what's missing is the software you had software that almost every coder uses it's not easy to port that code from one platform to the next. this is a huge issue for amd going into the market. intel tried to lawn after gpu, failed their next one, next generation, will be in 2025. they're on the foundry side, so maybe they'll be making more of these chips. that's what they hope. there are ones like arista network beating out cisco. they help connect chips and help them communicate that can be seen as a strength to your point about competition from hyper scalers, yes, everybody is making their own in-house inference chip that could be competition but, again, it won't run to the same caliber as nv

courtney >> thank you very much kristina partsinevelos >>> josh, i believe you own nvidia what do you make of the news on the super chip which sounds like an oxymoron, super chip, they're so small. >> super chip sounds good. super is usually better. i don't know how to interpret these types of pronouncements these days because it's -- look, i'm a long-term shareholder. i love that nvidia has had the high end of this market to itself and then it's got this moat, that's blocking the software platform i've been talking about for almost ten years now. it's great that they're in this position, but now they also have to play defense because, you know, amazon, alphabet, microsoft, they're all developing their own chips, they're all developing stuff that's going to be interoperable with their in-house a.i. environments and it's weird for a technology company to be so cutting edge it keeps competitors at bay forever part of me is like cool, a super chip, why not, then part of me is like, we have to be aware that the big risk here is competition, probably more so than valuation or anything like

kristina partsinevelos is standing by with that. >> nvidia setting the earnings bar so high, does that mean other chipmakers will fail to impress that can't do the same? we discuss next. 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. mlb chooses t-mobile for business for 5g solutions... ...to not only enhance the fan experience, but to advance how the game is played. now's the time to see what america's largest 5g network can do for your business. sleep more deeply. and wake up rejuvenated. with purple's new mattresses fall asleep 20% faster have less aches and pains and sleep uninterrupted. right now save up to $900 off mattresses sets during purple's labor day sale. visit purple.com or a store near you poly mattresses sets during puis back now a

kristina partsinevelos has more. >> $231 billion coming to the chips sector in the next few years orompanies that are expanding, building out and realizing how difficult it is to find talent like lab technician that is would come to this clean room and go do r&d in there. what we're seeing is a prime example with taiwan semiconductor. they are delaying their production to the plant in arizona due to a lack of skilled u.s. workers they are actually bringing this taiwanese workers to work with some of that more advanced equipment. i caught up with the president of the tsmc arizona to ask them about cheap labor. >> it is more expensive to bring the worker from taiwan, pay them a fair u.s. salary while in the u.s. and pay for all their relocation and housing and support. it actually makes them more expensive. >> the chip industry is expected to add 115,000 jobs by 2030 but over half are expected to go unfulfilled due to the lack of talent and training here in the united states. some companies like intel are definitely taking notice >> we do see that skilled labor and the construction as

kristina partsinevelos is standing by with those. >> air travel, this is what i'm going to talk abouting for international flights. one software firm is warning about budgets. all the details after this short break. >>> we've got breaking news out of the fed steve liesman has that for us. >> hey, mike atlanta fed president bostic meeting and talking with reporters over zoom saying the data he's seen so far is consistent with an orderly slowdown he calls that quite promising. recent economic reports, he says, argue for the fed being cautious, cautious in not raising too much, but resolute in bringing down inflation to the 2% target. he adds there's some risk, he says, of the fed overtightening, though he does say inflation is still too high and must be brought down so his baseline right now is no hike in september, though he could support a hike if data goes the other way that is not, however, his baseline he does not see cuts until the second half of the year. i'll add that's similar to the austin president who talked earlier today and he said any cuts would be far off in the future h

amd shares move lower after the secr second straight quarter of dec declines kristina partsinevelos joins us with the details of that report. i would say it was solidly positive and drifted lower >> that's not going to happen overnight let alone in the next two quarters and that is what has short term investors concerned. pc sales are improving but still down year over year and lisa sue believes data center sales will increase in the second half of this year driven by the launch of the ai chip but that 50% bump is compared to the first half of the year they're down 11% year over year and this is where this crucial time play comes in sue expects it to remain weak. this quarter still calls for a massive second half recovery how does that work calling for a 50% uptick, this hockey stick recovery implies so much is riding on q4 and the perfectly launched timing of their ai chip. >> so this is interesting, guys, because when we talk about the positivity around amd, it was around the notion the second half of the year recovery, specifically in data centers behind the gains that we saw, 2% to 4%

. >>> a check of top stocks to watch as he wed into the close for that kristina partsinevelos joins us here on "closing bell." kristina >> i don't know how to live boring and sexy. talk about chinese tech names. sge.com, ped worse performers in the nasdaq continuing to drop after the biden administration declines to ban u.s. investments into china computing and artificial intelligence sector. an effort to stop chinese military from accessing american technology other issues, though financial troubles at a chinese property developer and a drop in chinese consumer prices. that's why j.d. down to 5.5. it appears people are more than willing to dish out thousands of dollars for a soho house membership private club post add stronger than expected earnings report with its membership wait list at an all-time high 95,000 people waiting to pay at least $3,000 to $5,000 per membership >> 95,000 people on the soho house network? assume not just one in london or here >> no, no. a wait list to actually get a membership not their members. >> no. the wait list to get a membership 95,000 people? >> ye

it is all about chips, drinks and tractors seema mody and kristina partsinevelos filed these reports.starbucks is set to report after the close today. and li same store sales in the u.s. is key for investors to watch in north america, store sales are expected to increase 8.4% internationally, 22.4% analysts did not breakout the chinese sales, but it is a metric for the coffee giant as it is the second home market last quarter, the company saw the same-store sales in china increase for the first time since the third quarter of 2021. firms have indicated china recovery may be uneven and smaller competitors are crowding the land esclandscape and abroad in the u.s., it is about the strength of the consumer and if starbucks is able to hang on it share. that stock is up over 2% on the year one of the weaker performers in the restaurant space >> caterpillar is set to report earnings with the investors focused on the caterpillar inventory levels the industrial giant's china business with 5% to 10% of sales with the deceleration of the country's economy and that puts pressure on caterpillar or

for more on that let's bring in kristina partsinevelos christina? >>> if you're a cnbc viewer you know nvidia's numbers blew past expectations you have two reasons for that. first, roughly a 2% jump in the last three months, opened at a record high this morning those who wanted in got in as goldman sachs points out, there has been limited institutional demand after hours yesterday and today. last quarter you had all the big hedge funds scrambling to add exposure those who wanted in got in firms are racing to increase price targets and estimates which helps with the forward p/e ratio, a great barometer on nvidia's future growth it's around 56 times right now and is still lower than the 80 times we saw in may. hence the narrative i see milling about but out of all of the data research, analysts have spoken to, i've narrowed it down to three themes. ai is bringing in the money, and nvidia's guidance. ceo and cfo say they have supply visibility calming fears about constraints. lastly, china still contributing roughly 20% to 25% of data revenue centers w

kristina partsinevelos is here with what to expect from that. the perfect segue to you, right? people talk about it, but they don't mention it in the same light as the nvidias or alphabets or microsofts. >> they don't but broadcom can be a name that would see tangible benefits from that ai revenue. they're moving into video processors, will be used for ai infrastructure, but the report showed still weakness in the consumer. with broad.com, they've been consistent in terms of froet within various business segments. the concern for me is that last week we had a little bit more of a muted reaction from nvidia shares after the earnings came out. it closed 4% lower on friday. the same thing from marvell. it is pretty high and why is that? valuation is lower than other names. forward p/e around 21 times. you can say, hey, this is a little bit cheaper. with broadcom, though, the big part of this is it's considered less cyclical because of its diversification in markets and the fact that it does have exposure to that ai capex spend in custom silicon as well as ethernets. the ceo did wa

kristina partsinevelos here to talk about the deal and what it means for the foundry business >> it wasatiently, and mutually agreeing with israeli foundry tower semiconductor to terminate its plans to terminate tower. but this is really about the regulatory body refusing to play ball amid rising tensions with the united states. so intel derives roughly a quarter or a little bit over a quarter of its revenues from china. in other words, a strong presence in the country means regulators have the right to review any mergers of companies that earn a certain amount of revenue in china that's the reason why they were able to slow down this deal. and that's why you're seeing tower semi shares on your screen down about 8.5%. intel, a little bit more of a less negative reaction, down about 2% overall, china is not happy with the american-led set of international restrictions on the sale of advanced computer chips. this failed acquisition is a way for china to fight back. they did so with micron, blocking micron chips. and it does set a precedence for any other american firms that derive revenue

let's get to kristina partsinevelos for a market flash on oracle. >> all about who you know when it comesting your hands on coveted gpus and oracle knows nvidia. they have partnered for years in the cloud computing industry and that's why ubs is upgrading oracle. its underappreciated edge in terms of gpu capacity and infrastructure will attract more customers. most companies are rushing to build their own generative a.i. models and that means they have to scramble for the hardware. most often the hardware in gpus. ubs believes we could be sitting on a 6 to 12 month gpu shortage, which is substantial. that means any company like oracle in this case with a stockpile is already ahead of the game or what they call a, quote, speed to deployment edge. especially since so many companies already store their data with oracle software. another reason why it is a strength. they like oracle with the 47% pop on the year to date stock price and suggest companies are only just starting to ramp up their a.i. cloud infrastructure and that leaves room for growth with oracle cloud products maybe the midas t

kristina partsinevelos with a deep dive on the quarter. >> it takes a lot to impress investors these days, but chip maker broadcom's in line q-4 guidance is failing to impress right now. shares are down 3.5%. the company does have direct exposure to the artificial intelligence cap x push, with its ether net and custom silicon chips, and much of last quarter's demand came from hyper scaler customers building out a.i. infrastructure. q-3 networking, which includes that a.i. business, now encompasses 40% of total revenue. but that's not all of broadcom's entire business. it is still exposed to other end market segments that are going through what he calls a soft landing, like the wireless business, which he says is stable. and its server storage business, which in q-4 should be down double digits year over year. and if you exclude generative a.i. out of the equation, he expects semiconductor revenue to be flat in q-4. the call is under way. he just finished saying that he expects the vmwear acquisition to close by october 30th. shares down 3.5%, but earlier, it closed at a 52-week high.

kristina partsinevelos has been on the call. what's the latest? >> seems like there's been quite a reversal, because of the commentary on this conference call, and if you can just continue to roll through with what i've written, it's causing shares to actually increase 2.6%, because most of that had to do with lifting spirits on product orders the ceo noted that product orders were up 30% year over year, with double-digit increases in all customer markets. like i said, the guidance was light for the new fiscal year. revenues came in light and chuck robbins saying on the call just moments ago that customer buying from service providers is, quote, weak, because customers are digesting a lot of the infrastructure they already bought and why is that? keep in mind, two years ago, the company faced a shortage of parts and with those parts available just over the last year, the company has been able to play catchup, and ship out all of those delayed orders, helping sales. but we're seeing that bump is fading mentioned it several times on the call another

let's get to kristina partsinevelos for a market flash on palo alto networks which reports results after the bell today. what some are calling an odd move. >> the company announced their friday afternoon earnings date on august 2nd and the stock has dropped about 18% on speculation that the company could be hiding something bad since attention tends to dissipate on friday summer afternoons, but not with our cnbc viewers. there are other factors that could play a role in the recent stock drop. palo alto was added to the s&p 500 on june 20th replacing dish. it jumped 7% that day. possibly coming down from that. secondly, microsoft announced in july it would expand its cyber security offerings which won't affect this current quarter for palo alto but do have longer term ramifications. lastly, competitor fortnet's earnings were weak and guided lower on customer billings a key metric for the cyber security firms that could be setting the tone for palo alto. but maybe all of this negativity is over blown. palo alto's press release they did say they would provide full year or fiscal year 2024 g

for more on that let's bring in kristina partsinevelos christina?re a cnbc viewer you know nvidia's numbers blew past expectations you have two reasons

kristina partsinevelos joins us now with more. i don't know give me a hyperbolic >> shocking.cking >> spectacular ginorm m ginormus >> you can't make it fast enough nvidia with every adjective we can use, posted the best quarter and managed to guide above estimates to $16 billion for q3. the uptick in sales driven by gpus thousands of which stitched together to train large language models like chatgpt. that is why the business which includes the a.i. chips grew 141% quarter over quarter. i know everybody is talking about year over year, but quarter over quarter is a feat the majority of the data center sales, ya.i. chips came from the united states. this is according to the cfo and kelly pointed out on twitter because she doesn't sleep includes the export restriction in place here is the ceo. >> we are significantly ex expanding production kcapacity supply will increase for the rest of this year and next year. >> in other words, assuring investors supply won't hamper growth nvidia relies on taiwan semiconductors to make the chips. for now, it is overcoming constraints more qui

our kristina partsinevelos is live from north carolina this morning with more. he chip space in america. but as companies like wolf speed begin construction, they realize how difficult it is to find talent prime example is taiwan semiconductor. they're the first company to publicly announce that they're delaying production of their arizona plant till 2025 due to a lack of skilled workers in the united states. so i caught up with the ceo of intel, pat gelsinger, to find out if he's facing the same shortage listen in. >> i think they're inexperienced operating on a global fashion. samsung hasn't complained, they're building in the u.s., but they're very much a global company. so i'll just say, hey, we've been operating in a global sense for years. we've been in the u.s. for many, many decades >> so after that interview i went to arizona and caught up with the president of tsmc arizona to ask if he was flying in taiwanese workers because it was cheaper or if it had anything to do with being inexperienced. listen in. >> i also want to dispel another comment about che

kristina partsinevelos has them.ld the tides be it turning for telecom, citi seems to think so calling them both a buy. they say the wireless environment is starting to stabilize helping operating margins and improve free cash flow, could support the super high dividend payouts at 7.8%. there's one big uncertainty, though, continued frisk lead exposure found in cabling around the country. verizon, that's a big part of why verizon is trading near its lowest level in a decade and at&t hit its lowest level since the aearl 90s in july about 13.43. we can see here in july. switching gears, oracle getting love from upgrade to buy with a price target of 140 bucks. analysts did their own digging and suggest oracle snapped up nvidia graphic processing units and bodes whalell for its generative a.i. applications. oracle is close partners with nvidia and oracle only 6% off its june high at $12.54. jpmorgan removing salesforce from its focus list, sticking with an overweight rating. they cite the stock 60%, about 57% year to dat

is going to report after the bell kristina partsinevelos joins us to tell what we're looking for >> inthusiasm. seems like wall street every analyst out there is enthusiastic with price targets as high as 800 but a lot of focus on data center i say data center revenues because that encompasses the a.i. chips we keep talk about talking about, that's expected to be $8 billion in q2 q1 it was 3.3 billion so that's a massive amount of growth the major concern is getting the supply jensen huang did say they're okay for the rest ofthe year but you see the numbers, we're going to ship half a billion chips this year and maybe between 1.5 next year, that's a lot of chips they're reliant on taiwan semi. the largest chip contractor in the world. so for tmc to increase at the same rate nvidia is seeing in growth rate is difficult and can't happen overnight so this earnings report will obviously -- i shouldn'tsay obviously. will reflect demand but maybe hinder by supply >> the stock has moved up dramatically since the last quarter when they forecast far above what anybody had anticipated. that's w

kristina partsinevelos joins us with more on what maybe to expect. >> well, what summer fridays, whatanalyst or journalist covering cyber security firm palo alto today you're out of luck, sorry, because oddly enough the company like mike mentioned moved their earnings to this afternoon and scheduled a two-hour conference call and offered to conduct one-on-one calls with the sell side to clarify any issues. the company says it's because of scheduling. the company did announce the friday afternoon earnings date on august 2nd. see on the stock chart ever since then the stock has dropped over 18%. why? well, speculation that the company could be hiding something bad which is why they announced on a friday, which, you know, attention tends to be elsewhere. dan ives from wedbush who maintains a buy calls it one of the biggest pr disasters and black eyes we have seen in decades of covering technology and a point of concern is guidance. competitor fortnet guided billings to grow by 10% year over year in the december 2024 quarter, that's down from 18% in the june quarter, down from 30% in the

of jobs one of the biggest challenges so far has been the lack of talent in the workforce kristina partsinevelosrning. you said billions of dollars, it is actually $231 billion that is expected to come to the chip space. as companies begin construction, expanding, they realize how difficult it is to find the talent like lab technicians that would work here. this is a clean room heading into the r&d section at wolf speed. a company like taiwan semiconductor is a prime example. they have two manufacturing hubs in arizona they publicly said they're going to delay production until 2025 due to a lack of skilled u.s. workers. they're actually flying in taiwanese workers to work with the advanced equipment and train u.s. staff so i caught up with the president and asked him if it was a matter of cheap labor. listen >> it actually is more expensive to bring the worker from taiwan, pay them a fair u.s. salary while in the u.s., and pay for all their relocation and housing and support. it actually makes them more expensive. >> much of the semiconductor supply chain is based overseas, so there is fewer qua

kristina partsinevelos is joining us now with more. you weren't a math major, but you get it? so smart financial than n engineering. apes are no more. all with the goal of 158 million outstanding amc shares. thursday, amc, conducted a reverse stock split giving shareholders one share for every ten they held. why? with the effect of trying to boost the stock price ahead of the ape conversion that happens today. why does all of this engineering happen when you know the stock will drop and drop double digits? amc is strapped for cash with debt over $9 billion. they sold as much stock to retail investors. the #apefanfare helped them during covid and saved them from bankruptcy. the ceo is warning of liquidity issues and massive growing pile of debt. it created amc preferred equity units. ape. get it? voting rights and the successfully voted to convert back to common shares. since the conversion is happening after the stock split today, one ape share equals one tenth of the common share today. there will be fewer total outstanding shares. now for the grand finale. since this is over