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kristina partsinevelos, don't give me that look.e some of the biggest movers heading into the close? >> i'm saving that look for later. are you a rams fan, packers, patriots fan? somebody is. they'll be making some big bets this weekend on the games, nfl games on sunday. that means more money for draftkings. that stock is popping and i'll explain the details after this. this is spring semester at over 13,000 us school districts, which have become top targets for ransomware attacks. but there's never been a reported ransomware attack on a chromebook. which is why thousands of schools like the fairfield-suisun unified school district switched to google tools for education. so they can focus on teaching and 22,000 students can focus on learning, knowing that their data is secure. ( ♪♪ ) what is cirkul? cirkul is the fuel you need to take flight. cirkul is the energy that gets you to the next level. cirkul is what you hope for when life tosses lemons your way. cirkul. it's your water, your way. you founded your kayak company because you

kristina partsinevelos, what do we expect? an earnings report and higher price points for royalties. recall that arm's business model is different from other chipmakers since it provides the blueprint to make chips and charges royalties for that blueprint. since december it's up about -- we can see arm is up 6% and it's lower than other electronic design automation companies like synopsis and cadence design systems and those are the best comparison, but what we do see from arm is somewhat missing the ai euphoria boat, over 40% of its revenues come from mobile, and 24% come directly from china which operates on black box under arm china and some are worried about arm's architectural and blueprint is under threat from the open source model of risk 5. softbank owns 90% of arm and what they do will affect the stock and despite the investment risk analysts and believes it's coming in just below $3 billion and it will focus on edge computing and ai on smartphones and pcs and something qualcomm and intel pushed on their earnings call

company. >>> back to kristina partsinevelos. >> it's football season.t, a service owned by penn entertainment which launched six days ago. they sold barstools sports in the summer and rebranded its sportsbook at espn bet the analysts say it's dominating shares are up about 7%, on pace for its best month since september of 2020. >>> paramount is selling a stake in bellator. the shares will be sold to the professional fighters league shares up almost 6%. >> kristina partsinevelos. >>> still ahead, been a year since bob iger's big return to disney we'll break down how he's impacted the media giant you got this. let's go. gobble gobble. i've seen bigger legs on a turkey! rude. who are you? i'm an investor in a fund that helps advance innovative sports tech like this smart fitness mirror. i'm also mr. leg day...1989! anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations. i go through a lot of pants. before investing carefully read and consider fund investment objectives, risks, charges, expenses and

today pippa stevens on palo alto, kristina partsinevelos on cisco.at you got yesterday. i don't think people thought we were just going to be off to the races again today. >> sideways most of the day. people say we're up six points on the s&p, not very exciting. but i think bulls should be excited. i see small caps again strong, midcaps strong, banks strong, transports these had terrible performances until recently i see tech lagging that's why the s&p isn't up so much meta, amazon, salesforce all down this is called rotation, and it's great for the markets russell 2000 up 6% this week when is the last time you saw that nasdaq up 2%, s&p up 3%. that's rotation. i like what i see, and i know it's not exciting today as it was yesterday, but we're getting a broadening out of the rally. equal-weight sectors are up 3% to 5%. inflation is driving this whole story right now. it's hard to have higher interest rates in a declining inflation environment, and that's what we're seeing if the fed is done, we might have a soft landing. they could pull this thing o

kristina partsinevelos is back with us today. hey. >> hi. i want to start with dish network having its worst day ever and trading at its lowest level since 1998. the company says its ceo will have to step down and replaced by echo star ahead of the planned merger. the stock is down 35% for dish. echo starr is firmly lower after the satellite giant posted a sharp revenue decline and see echo star down 32%. dish and echo star report declining subscriber numbers. d.a. davidson upgrading booking to buy. analysts like bookings third-quarter results and want to take advantage of the stock's lackluster appearance in october. shares are up 4%. >> thank you. >>> we are just getting started here and we have a big interview coming up. exclusive, billionaire investor mark lasry joins us at post nine to tell us what he's forecaforecasting and finding new opportunities as well. you're watching "closing bell" on cnbc. trading at schwab is now powered by ameritrade, unlocking the power of thinkorswim, the award-winning trading platforms. bring your trades i

kristina partsinevelos is here with that. >> let's start with u.s. listed shares of alibaba after the company scrapped plans for a spinoff of its cloud business citing u.s. chip restrictions as the main reason for reversing course shares down 10% about 11% year to date. on the chip front, intel shares are actually in the green today after an upgrade from japanese bank mizuho bullish on the foundry business and says the chipmaker compares fair vorble to nvidia and amd hitting the he highest level at 4310. >>> up next, stocks rallying this week on hopes that cooling inflation keeps the fed on hold for good and our next guest says falling yields can fuel further gains from here. merrill wealth management lindsay hans here to make her case we're live from the new york stock exchange and you're watching "closing bell" on cnbc. together, we built something truly beautiful. it takes years of dedication to get to this milestone. the new york stock exchange is a symbol of what america is all about the potential of an american dream. it is day one. a lot of wo

kristina partsinevelos is with us as always. >> dot-com is having the best month since may. that's why shares are up lem 10%. medical device stocks are also high. popular weight loss drugs like wegovy, you can see u.s. medical devices is up over 2% but still down 12% on the last three months. switching gears you have analysts seeing beaten up stocks saying they could be seen as marginal play positive especially given their recent underperformance. that's why we're seeing big gains in names like dexcom, insule tecz, transmedics, and penumbra. >> thanks, kristina. >>> chris verrone is making a indication for outside caps and the key levels he's watching. he'll tell us just ahead. we're live on the nasdaq and you're watching "closing bell" on cnbc. at ameriprise financial, our advice is personalized, based on your goals, whatever they may be. all that planning has paid off. looks like you can make this work. we can make this work. and the feeling of confidence that comes from our advice? i can make this work. that seems to be universal. i can make this work. i can make this wor

next year you'll get it. >> kristina partsinevelos, we'll see you in a bit. >>> up next, the nasdaq leading the major averages today microsoft leading ahead of the big ai meeting how should we be positioned? we'll ask plexo capital's l lo toney after the break you're watching "closing bell" on cnbc. . >> announcer: this cnbc program is sponsored by truist securities seeking execution. meet gold bond daily healing. a powerhouse lotion that moisturizes, heals, and smooths dry skin. with 7 moisturizers & 3 vitamins. and... new gold bond healing sensitive. clinically shown to heal & moisturize dry, sensitive skin. gold bond. you founded your kayak company because you love the ocean- not spreadsheets. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire >>> shares of microsoft are higher yet again today, the stock hitting a record-high ahead of the ignite conference tomorrow tech giant expected to reveal its latest developments on the ai front let's bring in cnbc contributor lo toney of ple

investors not so kind, down 6% scott. >> thank you kristina partsinevelos. >>> last chance to weigh inquestion of the day. we asked what is the biggest risk to stocks right now rates, inflation, valuations, or geopolitics. sus tethosgbl. reltafr e break. what do you see on the horizon? uncertainty? or opportunity. whatever you see, at pgim we can help you rise to the challenges of today, when active investing and disciplined risk management are needed most. drawing on deep expertise across the world's public and private markets in pursuit of long-term returns... pgim. our investments shape tomorrow today. ameritrade is now part of schwab. bringing you an elevated experience, tailor-made for trader minds. go deeper with thinkorswim: our award-wining trading platforms. unlock support from the schwab trade desk, our team of passionate traders who live and breathe trading. and sharpen your skills with an immersive online education crafted just for traders. all so you can trade brilliantly. >>> the results of our question of the day the biggest risk to stocks now is what? most of you said r

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. >> we're lucky to have kristina partsinevelos at the table with us today who covers this company, know it is like the back of your hand. can they live up to their own hype i feel like we're at that stage we need to ask that. what was it two or three quarters ago they had the tremendous blow-out and the guidance was incredible and then, as amy was saying, they had another good quarter but the stock didn't react well. and now we've been on this huge run. >> to your point, i have a graph showing how well they did in q1 and 2. it was 11% higher. that's a pretty decent beat. last quarter, q2, 20%. can they keep this momentum going? that is the big question for this earnings period if i were to pick three main focuses, yes, supply constraints like josh mentioned, but microsoft cto said in september that is improving. management on the earnings call last time nvidia did say they expect supply to grow every single quarter sequentially. the other point would be china, a major overhang maybe not right now. they said no near-term impact. you do have export controls. and when china contributes 20

kristina partsinevelos. >>> as we head to a break here, let's give you a road map for the rest of thed amazon this holiday shopping season? >>> plus, more americans are turning to social media to do their holiday shopping this year with nearly half of gen z planning to shop on tiktok or sgraum. we'll tell you which companies are best positioned. >> if you're headed to the mall, the ceo of charter holdings will tell us what he sees. (adventurous music) ♪ ♪ ♪ be ready for any market with a liquid etf. get in and out with dia. my mom's life is the most important thing to me. hi mom! i called my mom, "i have this gene and i think you need to get tested." she feels like it was truly lifesaving. the power goes out and we still have wifi and i think you need to get tested." to do our homework. and that's a good thing? great in my book! who are you? no power? no problem. introducing storm-ready wifi. now you can stay reliably connected through power outages with unlimited cellular data and up to 4 hours of battery back-up to keep you online. only from xfinity. home of the xfinity 10g network.

back to kristina partsinevelos now for a look at the key stocks she's watching.a. >> you may make one of those who order the extra shot warm milk soft topping caramel drizzle pumpkin spice latte but those pricey drinks and lattes helped revenue climb 11% with a 3% increase in starbucks traffic but not everywhere. north american customers were the ones buying as the international business saw weakness, coffee drinkers in china are cutting back orders amid a slowing economy. >>> palintir on an earnings beat that includes a fourth straight quarter of profitability and that means they're eligible for ininclus in inclusion in the s&p 500. >> we asked where will apple trade first? closer to 190 or closer to 160? we'll find out where it goes pretty soon because those earnings are coming in "overtime." head to @cnbcclosingbell on x. the results just after this break. as an independent financial advisor, i stand by these promises. as a fiduciary, i promise to be the financial steward that you and your family need. i promise to put your long-term financial well-being above

kristina partsinevelos. guy, what do you think of this quarter? >> well, the quarter is whatever. the guide is what should scare people a lot, and we had this conservation when they became a publicly traded company. at one point, this was a $70 billion market cap. it was probably trading 27 to 25 times-ish revenue, which is absurd in my opinion. even at current levels, it's still expensive. for a company that -- it does $3 billion of revenue for the last three years. you don't have a lot of growth. the guide is significant, i think. it should scare people at this valuation. they should have the growth to back it up and they don't. and this is their first quarter as a publicly traded company out of the chute. i don't think that's particularly good. >> and they have to diversify away from smartphones. that's what kristina was talking about. remember the headline with nvidia, they were working on an arm-based chip for the pc ♪ ths? i think everyone forgets about that, because they have not diversified away from smartphones. so, at this point, there's not a lot of historic data to loo

kristina, thank you kristina partsinevelos., you are a shareholder >> i have a position in cisco, and as you pointed out to a man who knows a lot about options and the lady next to me who does this sometimes, and not trying to implicate karen with my sellingup side calls is nowhere as good as buying puts, though they kind of are the same. in the case of cisco, what i liked about the company going into these numbers is that their business was not only strong in their core, but they were -- they were certainly -- they've been making this move into soft ware, and cyber, and these are high margin businesses they've been doing a great job the valuation at around 14 times, not expensive but what i also heard the company say is that their networking business is really slowing down and that's in con trags to what we heard from juniper and what we heard from arista relative to peers, that's why this reaction, i think, is what it is. they also said they have one to two quarters of shipped products already that have yet to be implemented.

kristina partsinevelos with a breakdown of that report. hey, kristina. >>> china revenue remains a concern though management assured investors they could find growth from other regions. that's because u.s. export controls are blocking sales to the country and would, quote, significantly impact q4 revenues and that's limiting its guidance. the number is at 20 billion for the upcoming quarter, but that number could have been higher according to management. the cfo admitting they don't know the impact of the controls. there's a big hang having some question how can nvidia keep up the beat without china as a major customer? there are doubts over the sustainability of demand once this backlog is down, especially if some companies are double ordering, you look at the stock, it's only, what, 2% off its high. i know you talked about this before. it's rare to see a stock hit its all-time high and have forward p/e come down. it's trading at 32 times with the bulls arguing that's cheap when you compare it to its five-year average. plus nvidia is rampi

kristina partsinevelos has a look. >> kelly, china remains a major concern, an overhang for the management. export controls were expanded in october, blocking sales to the country and would, quote, significantly impact q4 revenues. that's limiting the guidance number as well. the cfo add mitting they don't know the impacts of the controls over the long term. 21% to 12% just over the last three quarters, and they keep raising outlooks without china as a major customer. there's also a lot of doubt over the sustainability of demand once the backlog, once that gets worked out, aka inventory digestion, what that means for companies? when you take a step back it's down, what you recent all-time highs. really -- and actually have its it's trading at 32 times, but arguing that's cheep, and further at to that, there are new products coming out. there's expanse in solve water and networking, which is showing up some visibility into the future. >> so, the nvidia -- [ laughter ] >> i know. >> the shares are down, but other competitors are moving in the opposite direction. all companies are still spend

kristina partsinevelos nvidia shares down ever so slightly from what was an all-time high yesterday.t after this i was on a work trip when the pulmonary embolism happened. but because i have 23andme, i was aware of that gene. that saved my life. all right. 60 seconds to draw the perfect gift. what's it gonna be? a bottle of don julio, 1942, delivered. delivered with drizly. gifting without the guessing. drizly. ♪♪ ♪♪ ♪♪ ♪♪ ♪♪ ♪♪ ♪♪ i'm going to sell my life insurance cuz i don't need it anymore. my kids are grown, my wife is great, let's settle up the score. it's time to travel to paree, spend retirement happy. call 877-sell-easy. 877-sell-easy. 877-sell-easy, and sell your policy. you can sell all or part, live your life and play it smart. 877-sell-easy, and sell your policy. if you've had a change in health, or you're over 65, and paying for $100,000 or more in a life insurance policy you don't need, get paid for it instead. then take the money that you get, go to live it up, you bet. call 877-sell-easy. 877-sell-easy. 877-sell-easy, and sell your policy. >>> welcome to "squawk on

quarterly sales surging, 200% from a year ago and right here with us we have kristina partsinevelos to join us to break it all down. kristina, over to you. >> well what we saw like last quarter a big beat, bullish xhentory and a muted reaction. the bears winning today. it would impact revenues. the cfo continued on the call saying they don't have good visibility into the magnitude so that's concerning considering china contributes 20% of total data center revenues. how could nvidia keep up this beat and any future raises without china? the sustainability of demand but the ceo jensen huang on the call wouldn't have any of it sticking with the bull narrative said there's a host of new products like the new gpu that will be next year that could lead to a replacement cycle. there's continued expansion within software. they're seeing a $1 billion run rate, strength from networking. $10 billion runway with management and purchase commitments at $18 billion that is a positive for insight into the future. you saw price hikes across-the-board, goldman sachs, jpmorgan, mizuho well above $600 in

kristina partsinevelos. >>> speaking of chips more in the next hour.as shares rise on strong results and guidance. it's up 8.5%. stock having a good day today. that entire coming up in the xt hour. up 484 points on the dow. don't go anywhere. rked hard, yod , you looked after it. maybe, it's time for your home to start taking care of you. - [narrator] if you're 62 or older and own your home, a reverse mortgage can put more money in your pocket by eliminating your monthly mortgage payments, paying off higher-interest credit cards, and covering medical costs. - you paid down the mortgage, invested in your home. i guess you could say your home owes you. - just eliminating the mortgage payment, freed up a lot of cash for us. - the fact that we're still in this home means so much. - i get to go and do what i want when i want. - our customer's homes are taking care of them. maybe your home could do the same for you. - [narrator] call aag and get your free info kit. call the number on your screen. >>> welcome back to "squawk on the street." e-commerce giant s

why go there if you don't have to have a rating >> the headlines now with kristina partsinevelos >>> hi, scott. united auto workers union ratified a new labor deal with general motors these are the first workers at one of detroit's big three to sign on to the agreement ford and stellantis voters are working on whether to approve their deals. gm's vote secures a new agreement with the union after six weeks of coordinated strikes. >>> federal authorities in new york seized counterfeit merchandise worth more than $1 billion in the largest ever seizure of its kind. two people were charged with trafficking knockoff handbags, shoes, and other luxury items out of multiple locations including a storage unit the men could face up to ten years in prison if convicted >>> chinese president xi jinping said the country will send new pandas to the united states as a sign of friendship between the two nations. there are only four left in the united states after three at the national zoo were sent back to china. they came after the two world leaders mess face-to-face for the first time in a year yest

chips are these curbs too little too late kristina partsinevelos joins us now to explain >> the u.s.nnual report they put out last week it takes aim at biden's controls saying importers can still allow exports. we saw that in the latest quarterly reports. over 40% of u.s. chipmakers came from china in other words, china is still aggressively buying u.s. chip equipment, ever stockpiling. other examples that question the effectiveness of the export controls, companies like nvidia are making work-around chips to keep selling to china despite expanded controls that were just expanded in october. secondly, reuters reporting chinese search engine baidu will buy chips from huawei in a foundry in a shift away from nvidia that shows homegrown options are improving in china, despite u.s. sanctions. >> if you let certain products technology to go to china, i think there's an underestimation of how much china has the capabilities to improve on those technologies to basically leap frog in it the united states and achieve results, the exact results the u.s. government was trying to prevent. >> the

kristina partsinevelos. >> the digital banking company said it will stop accepting new student loans. applications as of this upcoming february. jpmorgan says it could trint to share buybacks and high stock prices. stock is up almost 5%. meanwhile shares of pure storage moving in the opposite direction. it 's a weak outlook. it's partially driven by weaker revenue since they offer storage versus service. they get the money a little later on. >> thank you very much. we're just getting started. we're still awaiting the start of the tesla cyber truck event. we're going to take you live when that event begins. >>> up next, more on the 2024 playbook. gabriela santos is here at post 9 after the break. you're watching "closing bell" on cnbc. [ "i'll be seeing you" by the five satins ] the mercedes-benz holiday love celebration is here. come in now for the exceptional offers you're bound to love, now, through january 2nd. ♪♪ we're not writers, but we help you shape your financial story. ♪♪ we're not an airline, but our network connects global businesses across nearly 160 markets. ♪♪ we're not

cnbc's kristina partsinevelos has all the details here the stock has sort of just waivered around here -- >> it dropped 3.5% -- >> initially >> and that had to do with the cfo commentary about china the quote is, we expect the sales to these destinations will decline significantly in the fourth quarter of fiscal 2024, though we believe the decline will be more than offset by strong growth in other regions they did a-- and they've said this before, having no near term impact, but you can't discount that data center revenue comes from china they're admitting it in there, but nonetheless, beat on the top and bottom line i thought gross margins was interesting. it was a beat, 75% stronger, but for the q-4 gross margin guidance, it's coming down a little bit, that's what they're estimating, so, what does that mean about efficiency? and so, for this call, i think a major factor is, how can you keep growing 206% per year on revenue? so, it's more -- and i know we had stacy on and others throughout the day talk about sustainability, how is this going to keep up this exponential growth beyond 2

bob pisani, thanks >>> let's get a news update with kristina partsinevelos >> police arrested a man foruntary manslaughter in the death of a jewish protester in california they say 69-year-old paul kessler got in a physical confrontation with a palestinian protester, fell backwards and hit his head on the ground prison he died the following day. >>> hamas claimed responsibility for a shooting at a checkpoint between jerusalem and bethlehem. israeli police say they killed three gunmen who open fire when security members started questioning them. >>> new york representative george santos announced he will not run for re-election in 2024. he dropped out of the race shortly after the house ethics committee released a report saying they found, quote, substantial evidence that the congressman violated federal laws he also faces two dozen federal indictment charges to which he has pleaded not guilty go figure. >>> walmart shares sinking this morning despite beating estimates for the third quarter and raising guidance it's the cautious tone about the consumer that might be hitting the stock. th

kristina partsinevelos joins us with all the details. >> hi, xp is giving back some of its earlier gains. posting a little higher than estimates. investors were pretty cautious going into this name given the weakness we saw from peers like texas instruments or auto supplier on semiconductor. that stock dropped 22% post earnings. but the auto chip sector has remained pretty resilient compared to other sectors post-covid. but the rollover is starting to happen right now. lucki luckily,% of it cosms from autos. third quarter, auto sales came in line. industrial and iot were weaker, yes, among peers but nxp was an actual beat. and you can see communication infrastructure was the miss. but full-year revenue guidance is expected to be flat year-over-year given the, quote, challenging and cyclical environment. the earnings, call, though, is tomorrow morning. two things to look out for is nxp, if it's still going to undership demand to control channel inventories and how strong that auto demand actually is given the warning signs from pierce. guys? >> kristina thanks. pretty much within the rang

let's get to kristina partsinevelos for more. >> this strong outlook and beat comes despite a global slowdown in smartphone shipments in q-3. you had management saying on the call right now, they are seeing, quote, early signs of stabilization in demand for global 3g, 4g, and 5g smartphones with strength coming from greater china, which could bode well for apple's earnings. in early september, qualcomm announced they would continue to supply apple with phone chips for the next three years. that apple deal helping their handset revenue beat and also pretty much a testament to qualcomm's chips. even apple can't recreate them. if we're speaking about auto, the auto segment beat. and also contributed more to total revenue, so, it's growing. qualcomm recently announced an x-elite pc chip based on arm technology. their cpu chip exceeds the performance of x-86 chips, so that means maybe they can steal market share. the new cpu is going to be available in mid 2024, but a lot of support from microsoft. kqualcomm shares up 3%. >> okay, kristina, thank you. tim, good news for smartphones? >> it

kristina partsinevelos with a look at what we should expect here. >> global smartphone sales fell 8% in q3 and that's the lowest level in a decade according to counterpoint research. that slow down is expected to weigh on the latest earnings report and the stock has been down 15.5%. hand set sales are expected to hit over $5 billion in the quarter, helped by a contract from apple and early september. we did learn that qualcomm signed a three-year deal to supply apple with chips. that deal is a testament to qualcomm's product offering. if even apple can't replicate the chips, however deutsche bank analysts think this benefit is priced into the stock. much like we're seeing with pc sales, investors will look for signs of a smartphone bottom with details on demand strength from china, and russia android orders ahead of the holiday season. one area of concern could be the auto segment given the weakness we have seen from other chipmakers like on semi, who warned of an ev slowdown in q4. expect qualcomm to hype up its ar p a.i. products. but keep in mind that revenue ramp is not expected

done to actually please investors given what was an incredible earnings report let's get to kristina partsinevelosf that and the call as well any idea why there would be this kind of response >> yeah. i'll tell you why. to your point, incredible beat, over $2 billion more than revenue estimates. and they did provide an optimistic outlook on the call you mentioned the stock down this is the third straight massive huge beat for nvidia, the stock soared 24% after the may report but flat after the pretty big beat in august and negative today so are we seeing the post earnings fatigue? to your question, david, there were a few drivers to the negative reaction. management admitting exports to china would impact revenues in q4 also limiting their $20 billion guidance they provided. the cfo said on the call they don't have good visibility into the magnitude of that impact even over the long term. china keep in mind is 20 to 25% of data center revenues, equating to 3 to $4 billion in potentially lost revenue and has the bears worried. how could nvidia keep up this beat and raises without china in the futur

a news update with kristina partsinevelos. hey. >> hi, carl.defense forces claimed troops faunds automatic weapons, grenades and ammunition inside gaza's largest hospital but the video shared does not appear to show evidence a hamas command center,ists beneath the hospital a claim that israeli officials have made. >>> the u.n. and world health organization say negotiations are going on to evacuate the hospital and hundreds of patients and staff remain inside the complex according to israeli military officials. >>> capitol police say six officers were treated for injuries following last night's clash at a pro-palestinian rally outside the democratic national committee headquarters in d.c. police say they arrested a man who slammed one officer into a garage door and punched another in the face. police estimate about 200 people took part in the rally >>> the athletics are cleared to leave oakland. mlb owners voted to allow the a's to move to las vegas, but legal challenges over state funding of a new stadium could threaten the move. back to you. >

kristina partsinevelos joins us at post nine >> it has to do with the 13f filings. in the big short, he's betting against semiconductor stocks as of september 13th. but they had a 100,000 shared put position in the etfs, he's betting that socks will fall, depending on the timing because we don't know when he took that position and if he's still holding it to this day but it's up about 8% since september 30 lt so he could be sitting on a loss david tepper also cutting his exposure, this according to their latest 13f filing, the fund dissolved positions in broad coms, marvel, cutting in qualcomm, taiwan semi. and dan lobes, third point reduced the stake in tsm by 0% by 20% chips were under a reset during q3 and maybe slightly into october. concerns about china, weakness in autoindustrial demands are some factors weighing on the sector a few weeks ago but as you talked about, momentum is back into the sector, nvidia closing at an all time high yesterday. adding $2 billion in market cap over the last few days applied materials, broad com, intel. and amd, data center gpu

let's get to kristina partsinevelos to find out what changed things here. >> enough toget investors excitedlike you pointed out, david, the stock fell when earnings came out but completely reversed course and is positive when they expect gpu revenue to exceed $2 billion in 2024. that was the key there. 2 billion. and that number is higher than most street estimates. she went on to say this, quote, growth would make the mi 300, the a.i. chip, the fasters product to ramp to $1 billion in sales in amd history. strong words there. citing significant progress with customers. analysts do like amd but many this morning, truist, barclays, goldman sachs, all on your screen and more, lowering the price targets and estimates because the data center and pc sales are expected to grow they're offset by lower demand in gaming and embedded businesses in q4 and embedded isn't expect today rebound until the second half of next year. weakness was a problem for intel we heard that and hlattice, dow 39% in one month. qualcomm, the earnings are out today, extending an agreement with apple which is good but alrea

i want to get straight over to kristina partsinevelos. happy thanksgiving. >> happy thanksgiving to you as well. let's talk about nvidia shares. they're dropping on thin volumes. reuters reporting delays in nvidia's work around chips that were meant for china because of the u.s. export controls. this was mentioned in my reporting on wednesday as well as the earnings call on tuesday, the cfo saying, quote, these products, they may become available in the next coulming months. we don't expect their contribution to be material or meaningful. >>> there's a fight who will buy u.s. firm vista outdoor. vista announced that csg would merge with vista in an all cash deal valued at $2 billion. now colt has made an unsolicited offer to acquire vista. vista's board said they haven't made a decision yet. >>> and it's black friday, i'm sure you all know, i'm not sure if anybody's done any shopping yet, but is an important time for many shoppers because of more budget conscious habits. that's helping some names, walmart up a quarter of a percent. target