qualcomm in the application process that goes into the smartphone. eventually they'll get around to replacing the modem, which is what qualcomm is selling to them right now. so it may not be in 2023 i think it will be in 2024 don't forget, they replaced the microprocessor obviously, built their own. so this is just what apple does. they keep pulling more and more stuff in-house, which is good, because it helps them integrate all that with the hard waware t they have. but whether it's this year or next year, it's just a question of when. >> we will certainly see dan niles, thank you. >> thank you, jon. >>> we'll have much more on this sell-off throughout the show up next, an exclusive interview with intel ceo pat gelsinger following last week's warning that intel's ohio factory mine delayed, the plan might shrink if the c.h.i.p.s. act money from congress doesn't come through soon you're watching "closing bell" on cnbc. when traders tell us how to make thinkorswim® even better, we listen. like jack. he wanted a streamlined version he could access anywh

overall, been a tough space, even with qualcomm's jump today. let's get to a cnbc news update. >> and good afternoon. the house's january 6th committee ebegan the surprise hearing about 30 minutes ago an aid to mark meadows, who was the head of staff for donald trump. she says she asked meadows about a comment made about the president leading protesters to the capitol january 6th. >> remember leaning against the doorway and saying had an interesting conversation with rudy, mark sounds like we're going to go the capitol. he didn't look up from his phone and said something to the effect of there's a lot going on, but i don't know things might get real, with real bad on january 6th. >>> a judge in texas is temporarily blocking the enforcement of an abortion ban in 1925. it says today's order means prosecutors can act on the old law until at least mid midjuly clearing the way to begin resuming abortions up to the sixth week of praeg naens, until the trigger law goes into effect roughly two months from now. in tennessee, they're allowing the six-week

qualcomm's ceo christianoh ramon is next. there's a different way to treat hiv. it's every-other-month, injectable cabenuva. for adults who are undetectable, cabenuva is the only complete hiv treatment you can get every other month. cabenuva helps keep me undetectable. it's two injections, given by a healthcare provider every other month. it's one less thing to think about while traveling. hiv pills aren't on my mind. a quick change in my plans is no big deal. don't receive cabenuva if you're allergic to its ingredients or taking certain medicines, which may interact with cabenuva. serious side effects include allergic reactions, post-injection reactions, liver problems, and depression. if you have a rash and other allergic reaction symptoms, stop cabenuva and get medical help right away. tell your doctor if you have liver problems or mental health concerns, and if you are pregnant, breastfeeding, or considering pregnancy. some of the most common side effects include injection-site reactions, fever, and tiredness. if you switch to cabenuva, attend all treatment a

by the time apple succeeds, can replace qualcomm qualcomm other business should have grown enough toffset impacts of the loss of iphone 5g chips. this addresses, jim, a big concern and argument in the bear camp. >> i find it frustrating stock moves on this news frankly, i think the company already addressed this issue for the last two, three quarters, apple has barely been mentioned in earnings releases because they diversified i feel like allen rickman and galaxy quest, trying to be taken seriously as josh, shakespearean actor, struck in star trek satire qualcomm can't get away from the apple label even though they operationally are doing so. >> all right his latest survey that indicates tha that apple's 5g may have failed. watching the shares continue higher up 5% now. we will monitor this, bring you developments as we have them. >>> let's get to shares of boeing they're higher jeffrey reiterating it at by buy rate of 800 potential aircraft orders one of the calls of the day. back to farmer jim, i don't know why they call you that >> long story. i will send you the video. i do own

i think what it does is give qualcomm a little bit of time to diversify its business, but qualcomm is exposed specifically, maybe more so than a lot of other companies, because they go with apple. earlier this month it's back to original numbers i think it'll be interesting to see what happens in the coming days, but that trend is in play. the positive thing is that semi's genuinely, the evaluations are easier to defend but overall i think i want to see more proof that the worst s over. >> you know they are going to report after the close with what they have to say about pricing, what they have to say about cyclicality, which jeff just mentioned, that might give us a really good sense of what the back half of the year looks like, but we talk about inventory in the retail space we might find the last companies or oems that use those semi-conductive orders that have inventory, so i think the report tomorrow night will be very important. >> you have been watching these for a long time in terms of their read on the economy, here. >> down about 15 1/2 as a business owner, your bottom line

i think the company has an incredible opportunity, the best years of qualcomm are ahead. getting it. jack: thank you for coming by the studio. what will it take to get gas prices back where they were before the pandemic? the latest if elements with russss at adp, we use data-driven insights to design hr solutions to help you engage and retain top performers today, so you can have more success tomorrow. ♪ one thing leads to another, yeah, yeah ♪ >> tech: cracked windshield? make it easy and schedule with safelite, so you can have more success tomorrow. because you can track us and see exactly when we'll be there. >> woman: i have a few more minutes. let's go! >> tech vo: that's service that fits your schedule. go to safelite.com. >> singers: ♪ safelite repair, safelite replace. ♪ (vo) singing, or speaking. reason, or fun. daring, or thoughtful. sensitive, or strong. progress isn't either or progress is everything. ♪ ♪ ♪♪ voltaren. the joy of movement. ♪♪ jack: energy prices on the rise in supplies remain limited as summer driving season kicks off. what will it take to get

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i think the company has an incredible opportunity, the best years of qualcomm are ahead.ng it. jack: thank you for coming by the studio. what will it take to get gas prices back where they were before the pandemic? the latest if elements with russia and saudi arabia moving the market. i am asking daniel jurgen next. (vo) singing, or speaking. reason, or fun. daring, or thoughtful. sensitive, or strong. progress isn't either or progress is everything. ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq at adp, we use data-driven insights to design hr solutions to help you engage and retain top performers today, so you can have more success tomorrow. ♪ one thing leads to another, yeah, yeah ♪ what are you recommending for muscle pain? based on clinical data, i recommend salonpas. agreed... my patients like these patches because they work f

this 122 or so level so i think qualcomm right now just giving you an opportunity to be long a stocktheir earnings season into july sets up really well post earnings, we'll have another conversation but i think the glide path from here is higher. >> even if they didn't double order and the demand goes down with chips ordered at these levels then there could be a supply glutton chips you don't need the notion of double order. >> and why don't you throw in the little caveat of china coming back online just that for the supply chain is going to be a massive, massive amount of calculations >> and shouldn't there be some demand we have numbers out of the auto sector, greatly impacted by semi shortages is getting prices, the prices for cars indicate there is still demand for the cars that need those chips that haven't gotten there yet so i hear you. we've heard from walmart and target, why shouldn't the chip companies be in the exact same spot but i don't think yet. >> we're counting down earnings from nike and insights into china. we'll break down the numbers and throughout june we're cel

i still think there's room in qualcomm.t they do about july 27 pick stay with this one. >> tune into the full shoe friday at 5:30 eastern time. coming up, tarmac troubles. companies continue to/lights ahead of the july 4th weekend. we will get answers on the first number of stocks with all-time highs. which names are withholding. >>> we're watching nikshese ar declined by more than 2%. we get the latest on the conference call, when we come back. stay tuned. like jack. he wanted a streamlined version he could access anywhere, no download necessary. and kim. she wanted to execute a pre-set trade strategy in seconds. so we gave 'em thinkorswim® web. because platforms this innovative aren't just made for traders -they're made by them. thinkorswim® by td ameritrade >>> another check on shares of nike. they have leg lower in the last few minutes. now down by more than 3% pick thing apart, logistics costs continue to dampen near-term profitability north america. they're talking about margins, which seems to be disappointing. karen

qualcomm shares are up 5.5% right now. the market is facing a major test in the form of profit margins. bob pisani takes a closer look at the new york stock exchange bob. >> hello, kelly. goldman sachs says profit margins are likely to decline next year whether or not the economy falls into a recession how much will profit margins decline? well, again, it depends on what side of the recession debate you're on. if there is no recession, goldman estimates there will be a 70 basis point decline that's 0.7 person. if there is a recession, it will be double that 130 basis points or 1.3% remember, profit margins hit a record last year, 13.5% in the middle of the year but have been declining ever since then. 12% last quarter and it will likely hit 11% this quarter it's important because you have to understand why we hit these report profit margins. remember what happened during covid, big corporations cut back on spending rather dramatically, on labor, travel, and on real estate and at the same time they use more technology to in

. >> your view, qualcomm and nvidia are the ones that you have i mean, they say that their analysis shows that this downturn as they call it looks most like 2011/2012. we believe the severity of a likely recession will term how long the downturn is. >> qualley com, 11 types earnings and 5g is the strength they're in autos as well, nvidia, gaming and data center. i like these coming ott of a slowdown because they have really good intellectual property the question of the overordering, yeah, we know that but this could be the classic example if they do what nvidia or qualcomm does and says things have slowed down but we have good solid balance sheets and demand this, could be a one or two-quarter thing but these are good cyclical growth stocks that are trading now at a discount and could get better. >> you say i like these coming out of a slowdown. what about going into a slowdown is the issue at hand. >> you could argue qualcomm is priced in the slowdown already historically at 15 to 17 times earnings so already 30% less than what it used to be. >> doc, you have nvidia stock and call, amd

i am interested in a name like qualcomm, trading almost 11 times forward, diversifying their businesshe semi industry which is just going to be part of our lives for years to come, i would look to qualcomm over netflix here. >> it is on the list, glad you mentioned it jim is smiling, listening to you talk about it, he owns it too. >> i am glad i am with snipe love it when i'm in the same name as him. it deserves 20 multiple. because of growth and diversity of earnings, deserves a 20 multiple, would put it around 230 by year end. >> steph, freeport on the list you have been buying more of that recently, haven't you >> yes, i have been. it fell 20%, and the report was a good number. this is about the copper market and being tight and having leverage every 10% increase in copper, 15% to ebitda. another story generating enormous free cash flow, paying down debt which i like to see. increased the dividend as well number one player in the space on sale at 11.3 times earnings. >> doc, dr horton, lenar make the list calls in both? >> yeah. and obviously the impediment or speed bump if you wil

no qualcomm, it was a good trade. stock was up 8%, thought i would take some off the table and play with house money. >> we will keep our eyes there we're taking a quick break opec agreeing to increase production bullish calls on energy. that sector continues to lead the way. how the committee is playing it from here. a big run for energy, up 59% back after this. what if you were a gigantic snack food maker? and you had to wrestle a massively complex supply chain to satisfy cravings from tokyo to toledo? so you partner with ibm consulting to bring together data and workflows so that every driver and merchandiser can serve up jalapeño, sesame, and chocolate-covered goodness with real-time, data-driven precision. let's create supply chains that have an appetite for performance. ibm. let's create. when it comes to cybersecurity, the biggest threats don't always strike the biggest targets. so help safeguard your small business with comcast business securityedge™ it's advanced security that continuously scans for threats a

just not for me >> everybody else on the panel today has some semi exposure lebenthal, still in qualcommyes, and xp semiconductors. i agree, joe said pick your poison, might have been somebody else between nvidia and amd, among the higher priced names, i like qualcomm and nxp at remarkable valuations. i want to rif on the cycle i think the cycle is likely to be long, economic cycle, because of powerful forces of supply chain on shoring and infrastructure spending, neither of which are likely to be upended if the funds rate goes to 3.5%. there's a wave of construction going on not just this country but europe, all of which places demand on the 21st century which is semiconductors. >> get the news headlines with contessa brewer. >> hi there, melissa president biden plans to ask congress to suspend federal gas tax for three months could save drivers 18 cents a gallon of gas and 24 cents per gallon of diesel if they pass on the reduction. it will have a difficult time passing on capitol hill. a lot of republicans are complaining it is a temporary fix, that it would deprive the government mon

the reasons intel is down is because intel closed their 5g chips that they were going to compete qualcomm on they shut down that entire team and system, they were doing it for ten years, and apple bought that entire team and all the ip and everything that goes behind it, so you will actually see one day where your iphone won't actually have a snap drive and chip from qualcomm in there to talk to the internet. that's pretty interesting in how they are so enclosed, but they want to play well with others; right? when we talked about the gaming before, all that revenue was generated not because they make their own games, it is because of the app store. you were talking about revolutionizing products. just think about that blackberry was before the iphone. same with palm pilots, even. so what's interesting is they are taking over fitness now too. they're going to have on-device fitness tracking for ios, so you donn need to buy a watch. [inaudible] -- and fitness space for their ios. i think that's understated those as well. >> liz: john, so much was made right off the top about this lock scree

>> that speaks to strategy, but what about tactics i mean, we've seen, you know, certainly from qualcommm these other names them laying out the broad reasons why they think they can grow even more profitably from here, but we're also seeing those stocks continue to come down as the narrative shifts along some of the, you know, things that i just mentioned so how should investors put that money to work in these stocks cautiously or, you know, wait for a big dip in all at once >> we're buyers here we're buyers today and at current levels for those who can look past what is, of course, a very difficult environment, i think as we get into the latter part of this year and into '23 and into '24, these companies are going to continue to create value for their customers, which should help translate into shareholder value. we've seen throughout covid and the recession that a lot of these companies that are innovating are also executing well on key product cycles, and that has enabled them to do that even in what has been a challenging couple of years. despite the challenges ahead, we do see oppor

if it opens up qualcomm goes to 50 recession i think the stock dose down 10.at's a good risk/reward. >> china could open up and we could have a recession >> no. >> no? >> china is integral to our economies growing. >> if china opens up, the chances of us having a recession are lessened >> absolutely. i think that there's whole industries -- like the auto industry, still tremendous demand for autos but they can't make a lot of cars. >> interesting story in the journal on gm versus ford wen it comes to electric vehicles the different route yours friend mr. farley and mary barra have taken. >> i'm friend with mary barra too, so i resent that. >> you're a farley friend too. >> i talk to mary. she's fantastic. my wife test drove the hummer and it was fantastic >> the electric hummer >> a hummer suv coming out she intends to get in the fall. >> isn't the hummer an suv >> there's a big one and small one. she felt it hard to park she said it turned everybody's heads and she felt like a queen. >> any of this put pressure on tesla over the longer term or not really >> i

qualcomm, but not a lot. only $740 million. >> i like how david sees this because when you see that level of panic selling, that says i'm not waiting for the buybacks most of these companies have big buybacks i'm going to get out because it's my time, it's 4:00 a.m. in new york heck with that i'm selling. >> if the market doesn't rally after europe's close today, what happens? what do we think then? >> we think we're joining in the sell-off that would be very negative because not that it's david's thesis, which is a good one. can i call it your thesis? >> of a number of market participants the swiss national bank saying that they got rid of their view they would only intervene in a one-sided way so they're willing to step in and try to strengthen the currency to do that, you have to sell to buy. sell your stocks >> before 4:30, up or flat other than cap do they own any walmart? no how about a dollar store i'm saying the puzzle is about 4:30 to 5:30, why would you sell those and not the rest of the dow? i kept

qualcomm has a gigantic business in california but i like them because he tried to move away. he has industrial and auto. but it is nine times earnings for the premier setting. >> that is a huge automotive play. >> gigantic. >> that give you any information behind it. >> those notes are short. >> versus ubs evidence lab which is a season of criminal minds. it is like an entire season. >> procedurals. >> you mentioned oil and driving and gasoline demand. do think that is what warren is thinking? >> it is 15% now. >> is the number 1 performing stock. the thinking was i would say, gesticulating initially. very smart and walking away. look at that. that is a winner. it's interesting, a very good. but he spoke at a conference and it was like mr. president, good to see you. you want to play ball, we don't need to play ball. were not going to grow. we will grow 5%. we will make a fortune. we are not there for you. by the way, they would have been. there were a group of loyal people who were willing to sit down and say if you give us some pipes, we will drill in those areas. we need a

what difference does it make if 99% i can do it myself but 1% is a qualcomm ski chip or an intel one,e to buy a chip. what difference does it make that i don't have any products. all the same, absolutely wrong criteria were put in the basis of other criteria, we need criteria. how many technological chains up to the last product we can do on our own. and in this sense, it is very important to find those missing components that we cannot now and make them yourself. but it needs to be guided. here is a simple example or do you understand electronics? well, what to say? of course, we will not be able to get - we will not be able to liquidate that huge foundation of many children that has now arisen. what can we do? on the contrary, do not eat to do all the microelectronics. but we understand that now we need we need base stations, it doesn’t matter four or five is a separate separate issue, but in these base stations , in the end, if you made them, even from imported elements. you understand that here there are two or three critical elements that you cannot buy even in friendly countries

as well as amd, wall street is pretty downbeat on this company barclays lowering the price target qualcomme yesterday, down about over 2% today, but an analyst predicting apple to use the mod manies for the '23 iphone so it seems like investor strength is looking -- >> potentially, thank you, kristina, for that thank you very much for being here, matt do you think that there is further to go in terms of weakness in these names? what kristina laid out is exactly correct, that there are concerns that the weakness on the consumer side, and surge i have run into some data points that suggest not so much cloud, but that enterprise demand is going to fall off. fundamentally, i think there's still room for conditions to worden when you look at valuation of some of these stocks, though, something like a micron, where -- you can certainly make the case that the down side is limited here are there certainly areas where you see some bright spots? >> yeah, we also have a backdrop where you have a bunch of larger trends in semiconductors, that are causing share shift that are creating long-term opportu

qualcomm is too cheap here as well >> thanks for watching see you back tomorrow. "mad money with jim cramer" starts right now >>> i am here to level the playing field. there always is a bull market somewhere. mad money starts now. >> i am kramer. i am just trying to make money. inflation has his grip around her neck. that is true even on a good day like this. nasdaq jumped 1.60%. last week's brutal plummeting continues. a labor shortage, the were in ukraine and lockdowns in china. i think the blame for inflation might go further than that. our government does not have a productive relationship with big business. big business can reign in inflation but they need an incentive to do so. there is zero rapport with the white house. a classic example is energy. today they met with the energy secretary about the high price of gasoline. he seems to have genuine scorn for the oil industry. he is adamant that they need to stop gouging the american public. that one comment kyle bosch any chance that u.s. oil producers would lift a finger to get gas prices under control. the

ashley: yeah, the high court declined to hear apple's bid to revive an effort to cancel two qualcommhis underlying dispute and the justices turned away apple's appeal of a lower courts ruling that the tech giant lacked standing to pursue the matter because of that settlement but apple had argued that it should be allowed to appeal qualcomm because that company could sue again after the settlement ends in 2025 but the high court said no. the supreme court justices also turned away an appeal by bayer, the bigger man chemical company leaving a lower court decision that upheld a judgment awarded to california couple diagnosed with cancer after spraying round up for more than 30 years and they argue the cancer claims it goes against science and the product has been cleared by the epa, but the supreme court says no and in fact, last week, the supreme court rejected a bay era peel in a different roundup case so bayer getting no relief from the u.s. supreme court. stu? stuart: what a shame but i'll pass judgment on that later. we've got a new poll and it shows 75% of people think the economy

that means qualcomm will stay as the exclusive supplier for those chips through 2023. pinterest ceo is stepping down. during his decade-long run at the top job, he saw pinterest's growth pass 430 million users, with a revenue of 2.5 billion dollars. he will move to a newly created role as executive chairman and keep his word seat. shery: take a look at how futures are trading. we are seeing a rebound, this after the s&p 500 saw a lot of volatility in the new york session. we are talking a three-percentage point reversal. there was optimism about china cutting its travel period. but that was not sustained. we had the really huge tech rout leading to the losses. although in the asian session, we are seeing a bit of upside. we continue to watch all those fears of a recession about inflation really being felt across markets. yvonne: it seems to be the big thing, inflation trade being done. a lot of it is data dependent. it seems like we are still going to see some pretty nasty prints in the next few months or so. it is the recession talk building once again. s&p futures ar

we go to break, get a check on qualcomm bofa represents the best buy-rated ideas. stongs down 30% for the year this morning [music - cover of blondie's “dreaming”] [music playing] ♪ dreaming. ♪ ♪ dreaming is free. ♪ >>> after a very calm day yesterday, markets moving this morning rather quickly s&p now down 1%. nasdaq down 1 and three-quarters percent. carl, we'll see where this goes the rest of the day. not this kind of velocity yesterday. >> that's when they sold into that morning rally, that's for sure turning to the mark, the big question remains, are we headed for a recession or in one? consumer confidence came in weak today. take a look at cathie wood this morning on "squawk". >> i have been listening to your program. i talk about going into a recession, we can claim a recession. we think a big problem is inventories, the increase of which i've never seen this large in my career i have been around for 45 years. >> our next guest, though, thinks much of the damage has been done and it's not the time to stay bearish on tech. joining us this morning, web bush tr

that means that qualcomm will stay as the iphone's exclusive supplier for those chips through 2023.i disneyland set to reopen this week with limited capacity and enhanced house protocols after a months long covert shutdown. the majority of attractions and shows as well as shopping and dining will resume operations on the 30th of june. haslinda: markets under pressure including the csi 300 index. but there are some gainers. chinese developers tracked. the sector probably has hit a bottom. up by 3%. take a look. rishaad: let's have a quick look at what is going on out there with the general market moves. equities on the way down. weakness across the board. a lot of this is down to what we saw in terms of the federal reserve with officials trying to play down the risk that the country will go into a recession. taking a look at crude oil. eliminating some of its gains. we did see crude stockpiles in the u.s. tighten further. of course, china equities did move to the upside yesterday on the news that they were having the length of time for inbound travelers to stay in quarantine. that ra

then, there is qualcomm, who we had him last week. a lot more exposure to europe than america.n the first quarter of the year. i bet they are doing a lot worse in the second quarter. of course, the chinese government remains an enigma. they could easily import vaccines from the west, and it would make a huge difference for them. i think the current situation is untenable. the moment china gets like the rest of the world and ends the lockdowns, these stocks will be the buys and this entire market. in the meantime, the second quarter ends in 10 days. if you don't on them already, at this point, you might want to wait although, they have come down to levels where the risk reward is, very much now, in the

normalized there are a few names i could away that valuations do price in especially names like qualcomm, trading at nine times its earnings, because simply anything touch -- though their exposure in smartphones is better there's a story, a diversification story that's playing out well the other is amd, trading, i don't know, 16 times earnings. there's a wonderful growth story there. they have a lot of lever that i think can carry -- they just reiterated guidance at their analyst day. they are absolutely killing it in the data center, and intel has basically admitted at their own analyst day amd will run over them the next two years, maybe longer there was a story there, i think this is a great time to be sharpening pence also. >> it's amazing that amd has flipped the table on intel so many years intel was the gold standard now it's quite the opposite. you mentioned as an aside there, anything that touches the cell phone is -- is -- i don't know what your word was, but not good why is that? why is that? >> smartphones are weak. they've been weak, especially in android smartphones in chin

emily: you actually had a career in mobile back at qualcomm. long have you been thinking about a crypto mobile phone? >> as soon as we started working on solana we felt that, imagine everybody in the world using these networks? they're going to use them from their phones. and because it involves cryptography, given that it worked a lot on the firmware, it is obvious to build these directly into the device itself. having your hardware in your phone makes a lot of sense. emily: solana has gotten a lot of buzz over the last couple of years. more broadly, what is it about solana that makes it better than other blockchain's? >> it is cheaper and faster. that means developers building web free applications can build them for larger number of people, making more delightful, simple or and easier to use. that is translated into growth everywhere. and if these, there's 15 -- nft's there's 15 million in solana. that's not something any of us expected. but it is crazy to watch. emily: helium has also been trying to do something similar with wireless for ye

taiwan semiconductor is aggressively adding supply which helps customers like amd, qualcomm and appleown in demand new april data shows semi revenue growth is decelerating on weakening units you can see it on the far right-hand side side of your screen like markets, like pcs and hand sets citi lowered their sales estimate for intel due to weakening pc demand. and it's not all peachy for the chip supply chain. you have micro chip ceo who said they would prioritize equipment manufacturers over other customers, whereas intel's ceo told cnbc he thinks the shortage will extend into next year because of the impact on equipment, not chips so many are still concerned about the supply shortage in chip making equipment, even if these makers get the chips, they're still facing issues getting other materials and labor to build the chip making machines so i guess we can't win it all, right john >> i guess part of what you're saying there is there's a difference in process technology whether you're doing the cutting edge manufacturing that goes into smartphones and pcs or the older stuff that goes

i am not scared of qualcomm being where it is or cleveland cliffs being where it is i do my homework, i know where fixed contracts are and where cash flows are coming from they have enough cash to buy back shares at these prices. i am not thrown by the short term i'm not. >> let's take a quick break. we will continue this conversation on the other side liesman, i want you to stay. if you have to bounce, i appreciate you being here. if not, stick. we'll be right back. >>> we are back with the gang, including steve liesman. he is down in d.c. ahead of the big decision and press conference tomorrow. maybe you're not in d.c., whatever, you're going there that's how we do it. yardeni said 75, 75, 75. that's what he thinks will happen cramer says 75 and dump bonds at 2 times the current amount what is the likelihood we get 75 and more runoff. that's a tool he can use without going to 100 >> yeah. i could take him at his word he has shown he will change what hewants to do. powell doesn't want to adjust the runoff, not make it flexible part of policy outlook he has lingering concerns or post

morning off what an hour we have for you in the next 60 minutes, you are going to hear from five ceos qualcomm, service now, chegg, c3 ai those last two are getting crushed. both missing on guidance that's the theme you're going to hear more about this hour. plus, silicon valley names, sandburg is out of meta. we've fgot to start with microsoft after seeing unfavorable foreign exchange rates will negatively impact revenue. a message we heard last week from the salesforce ceo. shouldn't be surprising since microsoft slighted earlier, but we're seeing this come through in the guidance that you've got to wonder what companies are next tech has huge exposure to foreign exchange vulnerabilities. >> seems like what's more important. this bit of news from microsoft, it's more important to the market and tech writ large than it is to microsoft we see the stock's only down two and a third percent, so given they took numbers down, it's about what you would expect. maybe people were hoping they wouldn't, yeah, 2%, hoping they wouldn't take numbers down at all. but i think it adds to this idea that there'

also believe that they power a lot of everyday life if i look at nvidia trading 27 times forward or qualcommhat's 10 times forward, very different stocks, different companies that serve the consumer basin different ways this pull back is an opportunity to inch in and create a position like i said earlier, maybe a quarter of a position and 12 months from now you have a full position i think double earning has hurt the names and other areas, i think there's possibility for long term growth this is the time to potentially jump in. >> bryn, you own nvidia. >> i do. from company perspective, between jenson wong and what he has done the past few decades, everyone knows nvidia, the chips they make are at the intersection of so many critical technologies that we're going to have over the next five and ten years. whether it's at a 27 forward multiple or gets down to 20 i'm still going to own it. if it got much cheaper i'm sure i would buy more >> josh, you own nvidia. we're seeing chips crash the first half of the year do you see a big turnaround in the second half? >> no. this is in a define down tr

it seems like you're saying you expect some of these names in semi-conductors perhaps like a qualcomm a lot higher a bit ago and were reporting upside earnings surprises when they were higher, that maybe they're worth considering. >> well, i think we're neutral i think we're definitely neutral, but the way i would put it is it's not the time to sell. it's time to think about buying and what you would want to be buying the time to sell was a while ago. and i think for our clients who are long-term investors, it's not going to do you much good to try to get out of the market in big form now maybe rotating out of some of those names that are not quite as attractive, but remember, when we're thinking about tech, there's been a rolling wave of bear markets, if you will, started with kind of an oversupply, concerns about oversupply and shortages in the semi-conductors. and then the reopening trade, which favored cyclicals and value over those stay-at-home tech names and then valuations got killed and we saw rates move up earlier this year, and thou we're in recession fears we have already s

qualcomm is too cheap here as well >> thanks for watching see you back tomorrow.arts right now >>> i am here to level the playing field. there always is a bull market somewhere. mad money starts now. >> i am kramer. i am just trying to make money. inflation has

they didn't see the changing landscape, and they're paying for it now you look at qualcomm to throw ae out a name trading ten times next year's numbers, a much better company at a reasonable valuation. i think you can be there people say on intel and valuation, they've been saying that literally for the last five years and it really hadn't panned out all that well. >> quickly, pete, is this a stock people hang on the too long because they know it? to guy's point, oh, it's intel it has to come back. >> the answer is yes it's really easy, and i'm one of them unfortunately, brian. i've owned this stock for a long time not just because the fundamentals looked so great, but also because i really thought under the management they had they were going to be able to move out and start to compete again. that has not happened. that's a big issue and they've got so much focus on building the factories and everything, which is great but that's years in the works. so unfortunately, they're going to be spinning their wheels for quite some time. and i think continuing to lose that market share. so un

we do need to look at chips once again, qualcomm, i don't know, a md, micron technology all down fromperhaps, aside from the downward pressure overall on the market and of course the semiconductor index, hitting an 18 month low, a report from n ikkei asia says samsung, one of the biggest chipmakers temporarily halting new procurement orders asking multiple suppliers to delay or reduce shipments due to rising inventory. supplies gone up, folks maybe demand is going down, samsung tv 's, home appliances and smartphones use samsung chips and yeah, you might want to stockpile your favorite revlon lipstick because the iconic cosmetics maker has indeed as we warned you last friday, filed for bankruptcy. the 90-year-old company expects to receive $575 million in debt or in-position financing from its existing lenders which will at least help keep operations running, but rev lon blames the bankruptcy on supply chain snarls which stymied its ability to fulfill demand and also being too late to the game, to makeup trends. revlon down 8%, it popped up into positive territory briefly during the se

we can't talk about the nasdaq without bringing up semiconductors and we have qualcomm, and skyworks struggling today and the sox, the semiconductor etf tracking for its worst calendar quarter since 2008. let's talk good, moderna, docusign and the biggest winners on the nasdaq. moderna's valiant vaccine appears to work against omicron sub variant and dan spring springer stepping down and the stock is up over 5% and lastly, several software and cyber names that are top gainers so far like intuit, okta, autodesk all trading above 2% or more, but they're all still between 40% and 70% off their most recent highs, so unfortunately, they have a long way to go. tyler, back over to you. >> kristina, thank you very much let's go to rick santelli in chicago as the bond market reacts to chair powell rick >> you know, everyone i talk to whether it's by email or whether it's by texting or voice thought had his talk today in a q and a was quite hawkish. it was hard to disagree with that, but yet as you look at interest rates and equity markets it was hard to square. well, here's the reason because

qualcomm, marvell, advanced micro, down 8% and for a random group of stocks to move on to the next section, this is a basket of high growth names that we saw move yesterday. peloton, uber, lyft, down more than 10% this week alone traders are quick to fade yesterday's post-fed meeting rally especially as other major central banks are turning very hawkish with their own inflation battles. so a little reversal the past 24 hours and definitely a downward trend on the nasdaq today. >> no shortage of losers lucid is the worst performer, down 12% thank you, kristina. >>> shares of kroger are down slightly but outperforming the broader markets this year. the grocer reported first quarter earnings beating analysts estimates and raising its full year sales guidance but saying margins fell as rising costs continued across the supply chain with us now is kroger chairman and ceo rodney mcmullen. welcome back good to have you. >> hi, sara. thank you. >> what i keep reading in the analysts' notes and talking to investors why your stock is down, they say it wasn't good enough you're clearly doing better t

. >>> take a look at the nasdaq, higher chip names, qualcomm, analog devices, micron earnings later inefinitely leading the charge after the break, we will talk travel, glen foggyle on the heels two.5 million passengers on friday a. post-covid high don't miss it. thinkorswim® by td ameritrade is more than a trading platform. it's an entire trading experience. with innovation that lets you customize interfaces, charts and orders to your style of trading. personalized education to expand your perspective. and a dedicated trade desk of expert-level support. that will push you to be even better. and just might change how you trade—forever. because once you experience thinkorswim® by td ameritrade ♪♪♪ there's no going back. >> air travel is on the rise, u.s. transportation security administration reporting they screened almost 2.5 million passengers on friday, that is the highest daily number of february 2020. this comes amid a massive amount of delays due to a drop in staffing shortages to navigate all this, booking holdings and ceo glen foggyle is joining us now welcome back >> hi, thanks

morning off what an hour we have for you in the next 60 minutes, you are going to hear from five ceos qualcommhose last two are getting crushed. both missing on guidance that's the theme you're going to hear more about this hour. plus, silicon valley

in them, and i'm betting with jim against citi >>> how about tonight, jim >> i've got energy with qualcomme times earnings, you would think christiana amon is willing to come on. no one cares about anything positive they're too busy selling out venice and czechoslovakia -- i'm sorry, zelenskyy and ukraine >> it has not happened yet there's full support, it's just europe -- the economy in europe and what's going to happen it's hard to run a factory on no energy >> they cheered chamberlain when he came home. >> yes, they does, because war is not good. >> jim, we'll see you tonight. >>> with the gains here weekly losses are still large, but not quitas be ig as last week. we're back in a moment lemons, lemons, lemons. the world is so full of lemons. when you become an expedia member, you can instantly start saving on your travels. so you can go and see all those lemons, for less. space. the boundary of human achievement. the new frontier. ♪♪ eh. ♪♪ it's not time to escape. it's time to engage. it's time to plant more trees. hoo! ♪♪ time to build more trust. time to make more space for all of u

general rafael grossi told the european parliament just earlier this month, he said, quote, iran, qualcomm has not been forthcoming in the kind of information we need from them. so mr. mali, were you aware of these efforts by iran to hide its prior nuclear work from the iaea? >> senator, did iran by? of course. did it iran have a covert nuclear program. >> was absolutely protect the reason why prior administrations of both such pressing sanctions on iran. >> was iran and compliance as you say in your testimony. >> with yes iran was in compliance with the jcpoa and please don't take my word for it. you can ask the iaea which is certified on numerous occasions and tell the trump administration -- >> let me interject respectfully, sarah. does the jcpoa require iran to allow iaea inspectors in to look at certain nuclear sites, did iran comply with those expressed terms of the jcpoa? >> yes, and yes. and again don't take my word for it. even the former administration had to certify that iran was in compliance and it did so repeatedly until it decided to leave the deal. >> and evidently that was

las vegas sands, loosening regulations around covid in china, hoping the gambling stocks, nasdaq, qualcommbig tech names on that nasdaq list of winners. the new york supreme court strikes down a law that allowed noncitizen residents to vote in local elections, that's another important reversal of policy. i call it a win for conservatives. a new poll shows the majority of americans feel inflation is holding them back from the american dream, especially tough on first-time homebuyers, the pandemic graded the perfect storm. kelly o'grady breaks it down after this. ♪♪ every year we try to exercise more, to be more social, to just relax. and eating healthy every single meal? if only it was this easy for us. say goodbye to daily insulin injections. omnipod is a tubeless, waterproof pod built to simplify life with diabetes. try it today. go to omnipod.com for risk information, instruction for use, and free trial terms and conditions. consult your healthcare provider before starting on omnipod. .. stuart: not much price movement so far, thousand 90, nasdaq down 50. the majority of americans feel t