so, these are some of the few things qualcomm has been doing successfully. and of course to add qualcomm is an innovation company, so we have a strong innovation culture and we are very encouraged to invent and bring our ideas forward. >> i wish we had a lot more time because i like talking to susie about this but one of the things i get frustrated when i see artificial fake efforts on the diversity and inclusion discussion and i gravitate towards those issues where you can change the way that it's been working because it has been producing an underrepresentatiod underrepresentation that we have to take seriously. talking to both of you i get the sense that there are things that are beginning to shift in those outcomes. i want to thank you both for joining us. it's always great to see you. thank you for joining us and i hope that you will be back. >> thank you. president of emerge an. organization dedicated to recruiting and training democratic women to run for office and also founder and host of the brown girl's guide to politics, oneth of the top political

lots of positive news for qualcomm >> absolutely.aking them one of the best performing chip makers this year they had to overcome the obstacles you laid out, jon. how much can we read into apple iphone 12 demand i know we were disappointed last week, investors were at least when apple didn't give a sales guidance for the 12. of course, qualcomm has lots of different customers beyond apple. did you get a sense of how far we can or cannot read into that part of the story? >> that's what i was trying to tease out. i was asking steve about demand in different categories. the mix toward the premium tier. and what i heard in that answer that he gave is that in the premium tier, demand is pretty strong people are willing to pay up for more technology. now that holds throughout q-4, that should translate, carl, into good demand for the iphone 12 pro and pro max which would mean that they can sell as many as they can make perhaps that's what tend to get from april until a holiday season and the margins should be pretty good so that's the read

of course, to add qualcomm is in innovation company. we have a strong innovation culture and we are very encouraged by our management to invent and bring our ideas forward. >> look, i wish we had a lot more time because susie knows i love talking about this. i will say that one of the things, after being in this business, i get frustrated when i see fig leaf where, artificial, fake efforts on this diversity inclusion discussion. i gravitate towards those issues where you can change the way gravity has been working because gravity has been producing in underrepresentation that we have to take seriously. just talking to both of you, fadoua chafik and susie armstrong. i get a sense that there are things shifting those outcomes. thank you today. thank you for joining us. i hope you will be back. >> thank you very much. >> thank you very much, steve. >> this is the president of the marriage, an organization dedicated to recruiting and training democratic women for office. she's also a host of the brown girls guy to politics, named one of the

were you jammed. >> let me take the qualcomm interview.ed me to stay >> i bet he was. >> you count people in pennsylvania and i'll work this. >> we'll take a break here dow almost up 500 points back in a moment ♪ wild thing, ♪ ♪ you make my heart sing ♪ ♪ wild thing i... think i... you know what i think? i think you owe us $48.50... wild thing. if you ride, you get it. geico motorcycle. fifteen minutes could save you fifteen percent or more. >>> good thursday morning. welcome to "sqwawk on the street." a three-week high as the market continues to try to sniff out some sense of closure on election counts still being counted. watching earnings, kayla as regards to the earnings, where do things stand? >> vote counting continues and the trump campaign files suit to stop the count in three states where he is ahead. in the race to the white house, here is what we know at this hour biden has 253 of those and president trump with 214 awaiting results from five critical swing states that nbc news calls too close to call pennsylvania, georgia, north

cheryl: qualcomm is winning on so many fronts, to your point. 5g, a five-star rating for qualcomm.nvestors as you mentioned jumping into the stock today amid the broader rally for the market. they reported fiscal fourth quarter numbers and revenue from chip sets for smart phones rose 38% to nearly $5 billion. the guidance eye-popping, though. that's really what i think shot the stock up. qualcomm is going to benefit from the launch of the new iphone 12 model, a return for the company after a year-long court battle. it was settled last year. qualcomm's forecast well above expectations. they also solved a dispute with huawei and a federal appeals court turned down a request over antitrust concerns so qualcomm has been the winner. the tide is lifting all boats here. take a look at first trust nasdaq semiconductor etf. look at that shot right there. strong performance, 4.5%. txl got an 8.8% stake and the ishares txls, 8.2% stake in qualcomm. this is really moving this. speaking of iphones, the iphone 12 pro max, the iphone 12 mini, all of that will be actually available to order this f

i also added to qualcomm that's really my exposure to 5g. kwa qualcomm blew out the numbers, 600 million better than expectation, scott, on their revenue side and profit dropped to the bottom line as well big up side call buying, extending this move, they're betting that it extends because they're buying up side calls still, scott got to love that >> don't talk too loud about qualcomm around jenny. that's just between the two of us now it's a great day for qualcomm. sshhh, we don't want jenny to hear it because she sold it. she sold it. >> i did but it was good portfolio management it's okay. kevin just said don't kick the gift horse in the mouth, take the profit i had 140% profit. all my work said the preeice target should be between 130 and 140 and i sold it and i'm miserable today. >> i knew had you the 140% profit in qualcomm, jenny, so i was just can iing around with you. and the point is you're feeling -- >> i think you brought it up as nicely as possible >> you're feeling pretty good because you are outperforming the market today wher

he says they are following it but they do not expect any big change as it impacts qualcomm. he says they feel pretty confident. they have had to deal with a lot of political turmoil, and the one trend he says he has definitely come to believe is tech and 5g are important components and most insulated from what you see every day on the news. interesting comments, especially on the back of apple's cfo telling us that uncertainty was really the name of the game going forward. talk about what you are seeing when it comes to big tech stocks today. abigail: those are interesting comments. big tech stocks rallying. perhaps what qualcomm's ceo was telling you in terms of not expecting the political change -- the political landscape to not change much, maybe that is part of the rally. a big piece of the rally was also health care. the biotech index at one point having its best day going all the way back to november 2016 after the election, so that is where there is some political change in health care stocks, relieved some say there is not a blue wave. biogen surging on the day, it's

>> you stay with qualcomm. 132 was a prior high a couple weeks or two ago we are through that. if you look at the quarter they just posted, not only did they have a ridiculous fourth quarter in terms of eps, they gave guidance for the first quarter it was spectacular people will say it is still expensive. that is true maybe you have to do it back to that previous 132, but qualcomm happens to be one of those chip names we haven't talked about for a long time on "fast money." >> that's right. that's big in today's environment. we already saw chip gain even in the wee hours of the morning based on the election results we got at that point. >> listen, these guys are going to benefit right now just as a cyclical play. they probably have good visibility as relates to the smartphone, probably more things going on in cyclical areas of tech that they sell into apple a 10% customer, samsung a 10% customer i mention valuation, intel can't get out of its own way two horrible quarters in a row there is one ripe for activist activity to me that is really cheap in the mid 40s. >> and another

qualcomm had great numbers overall. when we see lam research, kma and alphabet t the cyclical stocks are had great numbers. lindie with newhighs and parke hannifan as well we're getting industrials, cyclicals moving and defensive names aren't up as much but when you get 6 to 1 declining into the weeks, that's a pretty broad rally. back to you. >> parker up 10%, thank you for bringing that to us. >>> we're awaiting results from the six final states just getting more votes tallied in nevada. eamon javers joins us with details. >> let's look at the big board, the race to 270. this has been stalled since the last states were called. we have a similar picture if you look at the nation overall joe biden just 17 votes away in the electoral college from taking the presidency of the united states, but where is he going to find those 17 votes you look at the six states that have still not been called five states that have not been called you're looking at ultimately some opportunities for biden he has multiple channels to get thr

here, qualcomm, you don't need reforestation. your mission, we have to think about how to deal with our bombs, but that won't be enough to him out. so when we are here to us, we cut our c o 2 emissions and half every decade. it will still have to remove several $100000000.00 tons of c o 2 from the atmosphere by the end of the century. 1000000 antonymous here it's why we have to ask ourselves, are we going to put it on the news once hard work in norway has a lot of experience removing and storing c o 2. a clean or extracts natural gas on a peninsula near hammerfest, the northernmost city in europe. and today our son, jake, is in charge of the pounds. he's proud that away has been found here to get rid of c o 2, but also to deliver an immense amount of fossil energy to europe in the summer, as in iran, it's a lot of work and i'm so cute. and i'm sorry for us all $65.00 times for a whole year. and that's about $1.00 gigawatts. so it's summer as a c o 2 is always a byproduct of natural gas extraction. but the crucial thing here is th

qualcomm and nvidia, both of those quite a bit higher qualcomm up 5.5%, nvidia up 4.5%. >> coming off m-1 chip at apple, more discussion of 5g it's been a remarkable morning for the semis. as for the dow, we didn't get to the 29933 we got on november 9th but at 29,500, let's call it, awfully close to 30k time to get back to the judge at hq >> thanks very much, carl. welcome to "the halftime report" on this veterans day i'm scott wapner we have special programming for you, including a visit with sofi ceo, the investment committee here to talk about the markets today, including two veterans, degus wright who served in the united states army, jim labenthal in the u.s. army thanks to you guys and all of our veterans we always salute those in service and those who continue now. joining me, stephani

those are my long-term plays so, that's whether it's qualcomm or whether it's jamia, also a stock and fundamental play, that's where i get that. so, you have to know what you're doing and why you're doing it. in terms of salesforce, if they're using stock for this acquisition, then they should go do it. the stock's gotten not cheap it's expensive i think it will continue to be expensive, because it always has been, but you should use it as a currency it's a phenomenal currency to use. but i don't mind paying up, taking a long-term view, a year, two years, three years, five years for a core position if i think it's going to eventually exceed what i paid for it. >> but, i mean, i'm looking at some of the moves you're making. it strikes me that you're trimming from areas that have had big growth, particularly in the last few months. you know, apple notwithstanding. that's had great growth all year long you've tripped apple, you trimmed qualcomm, you trimmed qorvo. does that tell me you're rethinking the runway that's ahead or at least the power play in these stocks moving forward that ma

qualcomm shares, check it out.ompany's earnings and revenue beat analyst expectations and current quarter guidance also topped what the street was expecting. it also expects high single digit growth in chips and smart phones next year up by 15% this morning a gain of almost $20 qualcomm ceo will be joining "squawk on the street" at 10:45 eastern. and also match group earnings falling short, but revenue beat the street expectations. plt compa the impea parent company of tinder saw usage up and shares of expedia, they are also on the rise the travel booking giant lost 22 cents a share in the latest quarter, that was better than the 79 cent lost analysts had been expecting the stock up by almost 5% this morning. >>> a closer -- coming up, a closer look at the key states including the keystone state that haven't been called yet and the path of the victory for joe biden or president trump frank luntz, his name has ten letters but only two vowels. here is a look at the biggest pre-market gainers as business moves forward

who you would rather be at the moment from a chip standpoint, qualcomm, inindividual yashgsnv?would not want to be intel. i do think qualcomm is in better position of all of them, i think nvidia is the best position so there is a couple of inputs on that. the first, again, is the gaming sector fortnight added 100 million users this year. roadblocks is going with 150 million users. bitcoin is an interesting one. we're approaching all time high this is month. and bitcoin is actually mine with a lot of people that use nvidia and video cards and then nvidia has consumer enterprise hardware. there is a lot of things they have that are diversified. the m-1 chip is you a remarkable achievement and transform the industry it is important to make mention of that. >> yeah. the reviews are rolling in as we've been telling our viewers the last couple days kanye, good to you have. look forward to you have back soon thanks so much >> always a pleasure thank you. >>> let's check out the top gainers on the s&p 500 this morning as we head to a quick break. l brands and etsy there at the n'gowato

. >> qualcomm just out with earnings, looks like a strong quarter.o jon fortt with some of the details. >> it's a big beat on the top and bottom and on guidance qualcomm for q4 their fiscal q4 comes in with revenue of $6.5 billion versus 5.94 expected also with earnings per share of a buck 45 versus a buck 17 expected listen to this guidance, guiding to revenue, the range of 7.8 to $8.6 billion that's $8.2 billion at the midpoint versus just $7.1 billion expected also on nondat eps $2.05 versus $1.68 expected to all of those numbers well above wall street's expectations i did get a chance moments ago to speak with qualcomm's ceo about what led to these beats. he said that things were just strong across the board versus expectations and they had put out healthy guidance he said broadly it was stronger than we had guided and we were probably setting the tone out there a little bit, it was even stronger than we thought i asked him really any negatives out there, looking across geographies, across products he said i don't think so, when we look at it the

companies like brought come, qualcomm, some other infrastructure providers have a long runway. we are just getting 5g, that will drive internet traffic and cellular traffic. we're seeing development in china. no, i think there is a lot of good growth ahead of us in some cloud companies. you have to pick your places. >> health care stocks, phil a mixed bag. they had a good week early. some of the hospital names pulling back on the covid news. outhouse or woodshed for that group. >> woodshed, with the affordable care act closely very supportive of the biden administration. a opportunity to rotate where we're going as a population from demographics and supported by the federal government. here is the opportunity. charles: woodshed, you buy i had on dips, folks. it was a fun segment. i've to the woodshed and the outhouse, one person told me they both get cold in the winner time. it was a fun segment. i hope everyone took notes. across the country americans are honoring veterans. at 2:45 i'm talking about why we should thank vets today, in fact every day, yes, freedom is not free. n

they do announce this morning dish and qualcomm, both up rather nicely. collaborating on the development of the first oran compliant network. dish keeps coming out with the announcements, they keep plugging along we'll see where they are when they start to actually commercialize service. >> that's a remarkable move and i know that when you're -- if you're on the sky works solutions call, which came out during that terrible week for tech, all you heard were just amazing things from liam griffin about the demand for 5g. extraordinary demand we spent way too much time talking about the mac and not nearly as much time i think talking about what could be happening with apple and 5g. particularly if vice president biden is elected, is moved to the white house. >> he was elected. >> well, you know, there is a lot of problems between here and -- and the actual move out >> got it. >> but i do think that we are not talking nearly enough about 5g and qualcomm is speaking loudly, corvo is speaking loudly these companies are just -- they can't not meet -- they cannot

i would like to thank our sponsors, qualcomm, the international franchise association, and associationf realtors. special thanks to the national association of realtor

qualcomm jumped a late trade after a not the forecast for the quarter, suggesting new 5g networks areade devices. it says revenue will be as much as the $8.6 billion through december, more than $1.5 billion above analyst estimates. coming up on "daybreak asia," credit suisse and the outlook on how the election will feed into asian markets. the open in tokyo and seoul is next. this is bloomberg. ♪ >> our coverage of the u.s. election results continues this "daybreak asia hour. welcome to "daybreak asia." i am -- "daybreak asia welcome to "daybreak asia." haidi: i am haidi stroud-watts in sydney. -- welcome to "daybreak asia." haidi: i am haidi stroud-watts in sydney. in then results remain balance. the trump campaign sued in michigan, georgia, and pennsylvania over access to vote counts. china tries to reassure the business world it is committed to open trade. financial regulators in china say they support the halting of citing themag ipo dual listing as hasty. are now hearing from ap that the trump campaign has filed a lawsuit in georgia. seeking to pause the counting there. the trump

we talked target, the earnings, qualcomm, gm we're back in two minutes. ♪ ♪ ♪ sometimes, you want speedy-of-the-art but dependable. in other words, you want a hybrid. so do telcos. that's why they're going hybrid with ibm. a hybrid cloud approach with watson ai helps them roll out new innovations anywhere without losing speed. from telco to transportation, businesses are going with a smarter hybrid cloud, using the tools, platform and expertise of ibm. good work little buddy. ♪ ♪ before money, people tools, cattle, grain, even shells represented value. then currency came along. they made it out of copper, gold, silver, wampum. soon people decided to put all that value into a piece of paper, then proceeded to wave goodbye to value, printing unlimited amounts of money as they passed the buck to the future. that's why it's time for digital currency and your investment in the grayscale funds. go digital. go grayscale. ♪ ♪ ♪ >>> time for the futures outlook. bitcoin is hitting a three-year high jeff kilburg is hitting the high for the trade. just about 18,000. >> judge, it's moving. we're see

i would like to thank our sponsors, qualcomm, the international franchise association, and association of realtors. special thanks to the national association of realtors for supporting this band of programming and it is going to be a great band. stay tuned, lots of cool stuff. particularly my next speaker. some of the leading minds in civil rights and activism are with us this afternoon to discuss how intentional actions can lead to positive change. afo discuss how intentional actions can lead to positive change. before we get underway, a few notes, you can tweet us and he diversity.e #hill if you experience any trouble with the livestream, refresh the page. our first guest is a proud 35th-generation new mexican, that is the coolest way to frame it. is one oftive haaland the first native american women serving in congress. she is the cochair of the native american caucus. we may be seeing her in a joe biden administration soon. i hope you come back and talk to me no matter where you sit in government. great to talk to you again. let me ask you, we talked about diversity and inclusion

qualcomm added to that as well the trends are so obvious. i added to baba. too early on the day they pulled ant. it went down i added more yesterday when it sold off in the quarter. i just can't get away from tech. it's the growth. the trends are there they're not going away some were pulled forward, but they were also adopted by such a broader base globally. you're going from 250 million cell phones maybe this year to 500, 550 next year you take a couple like skyworks where 100% of their business s mobile phones, now 30% is the business, autos, the peloton bike, the routers you buy from am sfwlazon amazon corvo, the same thing, they're in the defense industry. i know i'm boring you. 5g is driving all of this. it has so many more capabilities than 4g. >> you love that 5g story for good reason. coming up, we'll look ahead to cvs, disney, draft kings we've all been distraktsed by the election you can watch or listen to u ve on the cnbc app as well we're back after this. >>> we're back on "the halftime report." let's get to kate rogers she's in reno, nevada, wi

within technology that are priced also at teams like growth rate that are non-faang, f-5 micron, qualcommnd others. these are growth at reasonable price right now so that's part of the reason you don't abandon growth whether you find it in health care or some of the market names as the economy broadens off. >> thank you very much for weighing in on this today. appreciate it. >>> we were just talking begun health care. let's stick with the stock story of the day which is huge declines in the biggest pharmacy names after amazon launched its own online pharmacy and a discount card that are can be used at other pharmacies, especially bad timing for good rx which recently went public. the stock today down 20% bertha coombs here with the late for us bertha >> reporter: we've seen this coming for the last three years. amazon's new online normalcy is in network with most insurers build begun on its $1 billion acquisition of pill pack while it won't have physical pharmacies, if you need a prescription right away you can download a card at get it filled at a drug store. you can also talk to a pharm

jim, qualcomm, we'll see everybody tomorrow "the exchange" "is now >> thank you, scott, and hi, everybodye to "the exchange." historic day for the country as americans vote in an election unlike any others. voters head to the polls, at least ones who haven't already turned in their ballot and with businesses facing a very uncertain future with the pandemic and record voter turnout, record political angst and record campaign cash has been raised are, and for all the concerns about a contested or delayed outcom

chip stocks are the best performers, qualcomm, skyworks and nvidia we'll have more on the markets inent. don't forget, you can watch or listen to us live on the go on the cnbc app we'll be right back. for over 30 years, lexus has been celebrating driveway moments. here's to one more, the lexus december to remember sales event. lease the 2021 nx 300 for $349 a month for 36 months and we'll make your first month's payment. experience amazing at your lexus dealer. and we'll make your first month's payment. as business moves forward, we're all changing the way things get done. like how we redefine collaboration... how we come up with new ways to serve our customers... and deliver our products. but no matter how things change, one thing never will... you can rely on the people and the network of at&t... to help keep your business connected. >>> those shares are plummet in off a short seller report by muddy waters which says it is short shares and credit of multi-plan over what they say is an impending which could cost 35% of revenue within two years. they're talking about the customer of

they're calling these things apple silicone arm is sort of an implementation detail for example, qualcommest arm chips for android phones those chips are great for phones really, i think by most objective measures they're not as good as the chips apple makes for its own phones, but those chips aren't really suitable for making laptops like these or mac minis, and the other thing to remember is that for apple this is just the start. they've promised already, and apple doesn't usually talk about the future, but they've already said they're moving the entire mac lineup to these chips. they've started with the consumer models, best-selling models but they're going to move everything, including the pro work station desktops to these chips, too, which they haven't spoken about those future chips. but that means they've got chips like these in the line for desktop professional, video editing, that sort of thing. >> that's scary, because usually in the past they come out with a desktop chips first because laptops you're more constrained with space, with thermals. so the fact that they came out wi

>> i did i'm so heavy into tech, traditional tech, if you can consider corvo and skyworks and a qualcommraditional tech. seems like that's where it is versus a zoom and the others i wanted to get a little exposure there i'm not as optimistic about the revenues returning as brad points out 22 and 23 i think you've seen a permanent cutback in business travel, which is the most profitable travel for the airlines. however, the market trades on momentum it's not traded on fundamentals or valuation for a long timing and the momentum of these names is going to continue i wanted to get exposure in the airlines i like united because it's got a asian travel but we're not there yet with the asian travel and, frankly, i think i've got a little time it's no the a full position, dea delta, because i think they'll pull back a little bit i'll be buying more. >> it's a good point that he makes. business travel is going to take -- it could take a long, long time, a handful of years, if not more. >> steve is a glutton for punishment in these thing, just like i am. so welcome back. >> yup thank you. >> the

jim, qualcomm, we'll see everybody tomorrow "the exchange" "is now >> thank you, scott, and hi, everybody. welcome to "the exchange." historic day for the country as americans vote in an election unlike any others. voters head to the polls, at least ones who haven't already turned in their ballot and with businesses facing a very uncertain future with the pandemic and record voter turnout, record political angst and record campaign cash has been raised are, and for all the concerns about a contested or delayed outcome today. stocks are up strongly for it the second session dow up 1,000 points since monday right now up 533 that's a 2% gain and we're seeing it pretty much across the bore for more let's get right to bob pisani this hour. >> this is sort of a buy everything market, but i'm wondering if we're not running up and bite rumors and selling the news, no matter who wins the election at this point everything is up let me show you the sectors. when i say everything, i watch small caps versus big caps and they are both basically up today quite well there's been some outperformance recen

qualcomm jumped in late trade after an upbeat forecast for the quarter.g all of the new 5g networks are persuading people to upgrade devices. the company says revenue will be as much as $8.6 billion through the end of december, more than $1.5 billion above analyst thinking. chips connect smartphones to wireless, making it a key indicator. let's have a look at what going on with the equity markets in play at the moment as we head towards the china clothes for lunch. asia-pacific markets nearing levels of march of 2018. japan on its lunch break. hang seng powering up over 2% at the moment. 200 alld the asx positive at the moment as we get the wind filling the sales of the equity boats. csi 300 up to the upside. on 6.65.le heading into the lunch break. positive in shanghai and shenzhen. ♪ businesses today are looking to tomorrow. adapting. innovating. setting the course. but new ways of working demand a new type of network. one that's more than just fast. you need flexibility- to work from anywhere. and manage from everywhere. advanced technology. with serio

qualcomm had great earnings last night year-over-year so. it during the pandemic call comes at home run gm had a real nice quarter. the federal reserve is still our friend and i think that beats everything else as far as concerns. first time unemployment claims they were little higher than we want. and that's going to be a problem in 2021. so we need to stay less we need to create 2021 if we want the job they want stock markets continue to work i yeah i get it. yeah. >>gridlock equals predictability and wall street likes real quickly, i know we talked about this briefly yesterday, but it was during normal times so regular viewer of your segment here may not have had your take on prop 22 passing this is that uber lyft the rideshare driver thing this is in your winter explain. >>california's most liberal state in the country probably on ticket for not bite. if california can't get labor positive. legislation passed no one well this really good news for uber left instacart doordash postmates. it's set a precedent that other states will have a t

qualcomm shares are up better than 1% right now. wall street, top investors watching your money. global fixed income portfolio manager for brandywide global, jack mcentire is here, kim author is here, and bull tech capital head of global macro research, katherin cat rooney v. futures point to a big rally this morning, take a look, up 517 points, largely on the moderna vaccine news that it is 94.5% effective. want to get into retail in a moment. but when you see a market soaring like this, because of the vaccine news, do you want to buy in or do you want to take to the sidelines? >> morning, maria. we want to buy in. i think this vaccine news is phenomenal. a week ago, we had pfizer which i know you're going to be talking about later, 90%, now you've got 94.5%. this messenger rna, which is the software dna is phenomenal and think of what it can potentially do with the flu virus, which is only 50 to 60% effective. they can change things big-time. so we're very, very excited about what's going on, as is the market. maria: yeah. we've g

still a core position but if you want to play -- play sky wards or qualcomm where their content is down to play that i think. >> and the other question, dan, regarding some of your can have depths and your optimism is if you're so confident as they are about the product supercycle, why didn't they give guidance, a especially for the december quarter? >> yeah. that's a good question i just think right now you're seeing it from a lot of technology players that was more prudence, but i do believe that in december, we're seeing orders track two tracks and they could blow away early numbers for the next quarter i understand what stove is saying, but i think a further re-reading here. that's why we have a $150 ways case and $115 bull case and i think we're only halfway done in terms of re-rating. >> i wanted to ask you quickly your take on the ev stocks coming up in november. kind of makes you feel like late august again would you be taking profits? >> i wouldn't be here, because as i said i think 3% of overall is e vvmt i think a biden administration is very bullish for an ev market and in a

. >>> welcome back tech is the best performing sector with qualcomm, paypal and nvidia it's soared underhe trump presidency, out performing the broader markets by 155% compared to 57% by the s&p 500. joining us for more in a cnbc exclusive, box ceo aaron levie always good to see you, aaron. >> thanks for having me. >> as i mentioned in the tease before the break, we've been following twitter closely as we always do. it seems like you've been welcoming the election result. do you think it will really be a big boost for your broader sector and for the economy next year >> yeah. well, first of all, it's probably a bad idea to follow me on twitter, especially during election season. but i do think that, you know, irrespective of stock market and some of the economic indicators that's tied to, when you look at america's long-term competitiveness, whether it's the global partnerships that we have with important nations that we trade with and we depend on, whether it's immigration reforms to make sure we have the best talent in america, whether it's stem education or making sure we have decisio

going to improve >> yeah, i mean it is a two-edged sword of course because you have a company like qualcomm that have heavy exposure to china f. trade tensions reignite i think you want to be wary of that. companies like tesla and apple have seemed to be able to navigate -- and starbucks have been able to navigate the tensions but you have to be kind of swift-footed if you are going to play that angle. >> two minutes left in the trading day. mike, what are you focused on in internals? >> it has been strong all day. you look at the volume split, 85% or more upside volume on the new york stock exchange. threw see it, 6.5 to 1 upside to downside thenst look also at the riskiness of the stock leading the way. the high beta etfshsb. it has been outperforming the low volumetivity version over the last five days that's the tone we have been mentioning for while there is a cyclical trade building in this rkt that's reflected right there the volatility index starting to give up some of the juice in there. obviously we are at the moment that the volatility markets have been pricing into turbulence fo

. >> qualcomm's numbers seemed in general that handset demand is going to be strong for a while i don'tnow if it includes apple if it quiets to super cycle upgrades or anything like that in term of the volumes for apple but yeah it seals like the whole category it is a boom in stuff. smart phones are stuff even though most of what you consume is data. >> how do you look at the stay-at-home trade and some of the beneficiaries, both the obvious ones like zoom as we enter the record amount of cases and the less obvious ones like t-mobile and verizon which have seen heightened activity and growth. >> what we are seeing is that this is definitely where you want to go what happened yesterday was more of a tech-led. but now spreading out this rally. what occurred today was materials led, and this stay-at-home trade one of the stocks in the materials is a paper mill company, west rock what they do is they make those food delivery boxes. everyone is doing food delivery now. so they are doing outstanding. they actually exceeded eps when they reported a few weeks ago by 74%. that's part of that ov

technology not as strong as the cyclical sectors still a good day apple, qualcomm, a lot of winners there. the small caps, russell 2000 up 2.4% also having a strong run on the vaccine hope. >>> coming up, dr. slaoui discussing moderna's coronavirus vaccine. phase three trials showing it is more than 94% effective against covid-19 we will talk with him about the roll out later this hour paul hickey is still with us gabriella santos joins the conversation and via fine, mike wilson, ceo at morgan stanley with his new price target out for 2021 on the s&p. mike, welcome. first, though, to mike santoli to recap another very strong day off the back of very good news on the vaccine. >> the market's ability to continue to rally on good news is still a positive. it is prabl ble getting a little bit -- probably getting a little bit stretched. it probably feels too intuitive for buyers to wait for the jump -- i am not saying that's a problem. but i do think you have to be aware of the cadence of this rally. credit is very strong. the rally has been very broad and inclusive. it is a matter of the rhyt

this morning we woke up to stronger earnings from the likes of qualcomm, they're the chips that go intol coming back which i think is encouraging. and i know this is your favorite, match group9 and the tinder owner because more people are signing up for tinder and paid services, 6.5 million used the -- stuart: okay. i'm not going to get into tinder and all the rest of it, but i am going to say that the you are right in the fact that we've talked about the new stimulus package that mitch mcconnell wants, divided government, the fed all helping the market, and you're right. so, too, corporate earnings. >> yeah. 87% have beaten on profits, making more money than anticipated, 82% reporting higher sales than anticipated. and if you have a divided congress, lower taxes, less regulations, that's a good thing. stu stuart you've got a rally as a result. now, nevada expected to give an election update in just a couple of minutes. if joe biden wins nevada, the election could be over. we're going to dive into that one for you. >>> 25-year-old madison cawthorn about to become the youngest congressma

it's not just battling amd, it's battle qualcomm and nvidia and apple.me game they have made mistakes but know the market when the new chips come out in 2021, those comparisons are going to look a lot like a competitive pc market, not an up ended one. >> but, jon, if you're in a situation like apple, why wouldn't you make your own chips if you can control it better, have it more directed and go beyond i guess the question becomes can other companies do the same thing or is that -- is it just apple who's going to be able to really focus on these things and do so many different things, be experts in lots of different things. >> apple is in this unique position, becky, because they make the mac operating system themselves they make so many different components, very vertically integrated an hp, lenovo, getting the operating system from microsoft, they're getting chips from intel and amd and putting it together in their own custom way. apple can tune its stuff special. the downside potentially is if apple doesn't do as great a job with those individual compo