qualcomm doesn't have to buy anybody. they will be a dominant chip franchise for wireless communications, for the internet of everything, for automobiles if you are buying at ten and a half times earnings for the 2.7 times yield. we're not looking for these companies to acquire we think they will get back to growth and they will get a significant multiple expansion as the earnings bottoms out and people look forward to '24. >> with everything you said, i wonder if you considered the micron news and the call there and some of their guidance for next year, sort of an affirmation of your view that things may get worse before they get better or if it was just so -- so bearish and with so many fall-out ramifications that it made you maybe second guess this theory. >> well, again, our thesis is based on a 12-month outlook. and generally technology companies will bottom out when the news is bad. we think the news is pretty bad, especially for semiconductors. so that's consistent with what we're seeing we think that by the time p

i think there's an overemphasis on certain segments, auto, for example, qualcomm being a strong playert going to see every single car electrified in the next year and a half or so it's more of a long-term gain, and you can see shares are up 2%, dom, at this point, for qualcomm. >> kristina partsinevelos with the latest trade we'll keep a close eye with you on micron shares the applause that typically happens with 30 seconds less the dow is going to finish higher by 1 1/2 points, 500 points to the up side. the s&p 500 up 1 1/2%. 55, 56 points, similar percentage gains for the nasdaq composite. you can see as we close out the day. solidly to the up side that does it for us here on "closing bell. we'll send it over to mike santoli for "overtime. >> welcome to "overtime," i'm mike santoli in for scott wapner whistleb we're just getting started at the new york stage micron earnings are about to hit the tape we'll bring you the numbers and instant stock reaction as soon as those results cross president biden and ukrainian president volodymyr zelenskyy are about to kick off a live news confer

on dividends my top five holdings are at&t, abviv, capital one financial, southern company, and qualcomm thank you very much. >> wow this is going to be very hard. okay i'm going to be harsh. they went from 1.5 to 3% capital one. way too high we're not going to own that. southern is one of my least favorite because they have screwed up on a couple big nuclear plants we're going to go with aep american eletric power att slashed dividends so we're not going to ever buy a company that slashed the dividend because we're trying to get dividend income here abbvie, i'm not crazy about it i prefer j&j and qualcomm is a charitable trust name we're extremely disappointed in and i would not own that for yield we got to do a lot of changes. we want to change the equality let's do jp mornin pp morgan, a that out i'm not ready to give him verizon. don't want to do that. i'd rather own the two-year treasury at 4.1. better piece of paper. we'll keep abbvie. we sold it for the charitable trust because we were worried about the outcome of a couple stocks that may not be doing as well as people think let's

stick with it, blair >> you can be bullish about qualcomm, but you bought it at 170. it's at 124.d on and you're going -- i think you're going to make money on it. hold on for what your life. it's down a lot. blair has got a lot of company, too, from viewers who bought stocks higher and sitting there lower wondering what to do >> i'm taking everything you and blair are saying 100% seriously. you've got to hold onto those stocks right now i'm not selling a share. i do think this is undervalued here, and i don't think this is waiting until your old age i think this is in the next year, in the next 12 months you're well above that 170 buy price, but right now it's 122. if you sell it here the question is where are you going to, where are you going to get a better return -- i see a pretty good return over the next 12 months from this. i own a ton of this which is the only reason why i'm not buying more i own a ton of it. >> i want a stop, got to put a stop in. >> you don't have to apologize what's your stop >> i don't own the stock >> all right, but you said in the next 12 months the

qualcomm, intel are lower but applied materials is one of the stronger players on the nasdaq 100, up over almost 1 sp.5% rig now after loop capital initiated a buy on the company bitcoin and ether are still struggli struggling, both on pace for their worst year since 2018 and that's dragging down coinbase which is barely positive but down 26% just in the last month or so. carl. >> pretty incredible thank you, kristina partsinevelos. >>> the president joining the ceos of apple and nvidia to visit a construction site in arizona yesterday. with more companies diversifying their supply chains, what is the read-through for semi stocks of large? let's bring in vivek it's great to have you back. it sounds like you think the most obvious trade is going to be around semi capital equipment but that trade could last for several years. >> yes, thank you, carl. good morning i think when we look at what happened yesterday, i think it's great news for the u.s i think it's very good to have a more diversified supply chain. but when you think about this from the narrow perspective of just the semicon

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it's the weekend and doha mcmaname is shopping with his friends in su, qualcomm market for a falcon. and he won from a young age is a rites of passage for catherine boys passed down from generation to generation. ayona had the house set up at yolanda, my budget is $1500.00. there are 2 types of falcons, the white ones and ones bed free. i want to buy it with paul auster bits of price haggling and have his coffee says with his choice. he plans to train is still can funds, right? he's already given it's a name much food such as arabic for famous that a height of al jazeera welcome. ah.

debby: those companies include apple, nvidia, and qualcomm.t the same time, intel, they make their own ships and do rely on tsmc for some of their production. they will also announce next tuesday that they have committed to build a second plant in arizona to make even more advanced chips to help american companies. ed: great reporting, debby, thank you very much. coming up, the latest in the wave of tech layoffs. as we had to break, let's look at shares of amc entertainment, jumping the most in six months after investors piled into bullish bets on the meme stocks that we have been covering here over the last year. this is bloomberg. ♪ ed: time now for talking text -- tech. sirius xm is the latest to announce job cuts in response to faltering revenue. they grew three .7% in the third quarter but analysts are forecasting modest growth, just 1%. all of this comes as the consultancy firm challenge gray christmas says the tech sector was hit particularly hard end of the 77,000 got -- jobs announced to be cut, 53,000 came from tech. no surprise ther

debby: those companies include apple, nvidia, and qualcomm.same time, intel, they make their own ships and do rely on tsmc for some of their production. they will also announce next tuesday that they have committed to build a second plant in arizona to make even more advanced chips to help american companies. ed: great reporting, debby, thank you very much. coming up, the latest in the wave of tech layoffs. as we had to break, let's look at shares of amc entertainment, jumping the most in six months after investors piled into bullish bets on the meme stocks that we have been covering here over the last year. this is bloomberg. ♪ if your business kept on employees through the pandemic, innovation refunds could qualify it for a payroll tax refund of up to $26,000 per employee, even if you got ppp. and all it takes is eight minutes to find out. then we'll work with you to fill out your forms and submit the application. that easy. innovation refunds has helped businesses like yours claim over $1 billion in payroll tax refunds. but it's only availa

raytheon, netflix, qualcomm and boeing just a small slice of stocks that popped up on best ideas listse are some of the big names that wall streets loves heading into next year i hope that is random but profitable we will find out2 nt 1mohs from now. we're back ifn a moment wow. really? of course, you'll have to eat your greens, watch your stress, wear sunscreen... but to live to 150, we're developing solutions that help doctors listen to your heartbeat while they're miles away, or ai that knows what your body will do before you do. cool. introducing elevance health. where health can go. as an independent financial advisor, introducing elevance health. i stand by these promises: i promise to be a careful steward of the things that matter to you most. i promise to bring you advice that fits your values. i promise our relationship will be one of trust and transparency. as a fiduciary, i promise to put your interests first, always. charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit fi

story, wall street appears tore more concerned about an economic slowdown wells fargo downgrading qualcomm because of a slowdown in the consumer smartphone market, and a cut on cheekscake factory. we are speaking with our cnbc contributor. gungin, this is an interesting story, because for the longest time we have known that inflation represents the biggest threat overall, but more and more ceos are citing that word "recession" in their com tears and investor days. >> i think there's been a big disconnect unemployment they're a record low, and last metropolitan we did see that prices are coming down just a bit. so i actually think that wall street, as the "wall street journal" reported over the weekend, has been kind of warming to the soft landing in recent months, and a recent goldman analysis showed that many investors are overwade, things like materials, cyclicals, energy stocks, you know, the types of companies that would do well if the economy was doing well, the recent data also showed that consumer expectations are coming down and feeling confident about the job market, all of which

you do not own the smh, jim, and you don't s&p and qualcomm what is your take and grade? give the grade a "b." i think you are supposed to own the semis, and more than the grade i want to encourage kris to stick with it and the only reason it's not an "a" is because it's down i think at the end of the day with the index or etf or other companies, these are real companies and producing real products and have positive cash flows, and they are not the fly-by-night companies who are trading on price to sales, these are, for the most part, attractively priced real companies so stick it out. >> joe, you have a take on the semis or the smh trade >> i think he's taking a diversified approach by purchasing the etf, and that indicates he wants to have a little longer term ownership i said last week on the show i think there are stocks within the semis that have clearly bottomed and there are others that will experience stress and strain you can see that with intel and even see that to a certain extend with amd. and these are examples of stocks individually that i believe are going

they say buy marvell and qualcomm stocks with underappreciated stability like broadcom in their viewmarket action coming up after the break. don't go away. at fidelity, your dedicated advisor will help you create a comprehensive wealth plan for your full financial picture. with the right balance of risk and reward. so you can enjoy more of...this. this is the planning effect. >>> the cloud is definitely top of mind for investors this week on >>> the cloud is definitely top of mind for investors on the heels and cloudfare kicking off its impact week. >> right now joined by the crofounder and ceo of cloudfare matthew prince thanks for being here. >> thanks for having me on >> it's impact week. a number of announcements including the company has received a certification to work with the federal government for cloud competing. just last week seesaw the big deal with the pentagon for cloud computing. where do you see the opportunities? where's the opportunities for cloudinary with the federal government >> we're proud having achieved federal certification. the federal government has long

apple, amazon, microsoft, qualcomm and alphabet. breaking in the last hour. activision blizzard making a move lower on news that the ftc is suing to block microsoft's acquisition of the gaming giant. we'll talk to former commissioner thompson about that news in just a second. also ahead on the show, this hour, commerce secretary aaimondo joins us to talk about competing with china including this week's big chip news. >>> plus, we'll get a new read on holiday spending and strength of the consumer when joins by the ceo of etsy. to the breaking news of the afternoon. microsoft and activision the ftc now suing to block the deal they're alleging microsoft would gain control of top video game franchises here and potentially harm competition microsoft putting out a statement saying in part, quote, we have been committed since day one to addressing competition concerns including by offering earlier this week concessions to the ftc. while we believed in giving peace a chance, we have complete confidence in our case and welcome the opportunity to present our case in co

we can also talk about adobe, amazon, oracle, qualcomm, microsoft, netflix.hey're all in pretty much bear markets and deep bear markets. so i think there is more to go. if we break the 10,000 nasdaq, i think institutions will recognize it. i think they're still overinvested in these areas. i think we can have a pretty interesting first quarter to the downside unfortunately. >> what about the second quarter? >> i wish i knew. lauren: trying to be optimistic, gary come on. is there one tech stock you do like? >> not right now but let me give you the optimistic part about bear markets, 100% of the time they always end and lead to new bull markets but you just have to be patient through them because you never know how far they're going to go, how long they last. we just came off of a nine trillion dollar bubble created by jay powell, nine trillion in europe, created by christine lagarde. that has to be worked off. i think we're in the midst of it right now. the greatest growth stocks in history will be technology and medical and medicine going forward. it is not

or 40 billion or whatever it is and wait for customers to come around >> intel has said aws and qualcommas thrown in and said they'd be in there >> they do have good packagic ip in terms of everything else we've gotten into the spreadsheet for intel. it's like, oh, yes, we'd be interested in exploring -- anybody would want an alternative edge at the same time whether intel can do it, call in five years. i'm convinced of that. you've got nvidia, amd i don't know who is going to be in these intel fabs if and when. i don't know, call me in five years. >> we talk about a lot of things where there's policy led demand either infrastructure or the chips act is where we find the labor. do you think that's going to be a material question once this thing opens? >> absolutely. so one advantage of doing this in arizona for all the factories who want to build there probably aren't enough -- maybe i should go back to this. 15 years ago if this wall street thing doesn't work out maybe i can find a gig in the fab someplace. arizona they've got already a lot of clusters there, and there's already people

so, look, they look cheap, but you had qualcomm downgraded today and looked pretty cheap to me any stocktech stock you want to buy, three months ago i can't get it cheaper you have it a lot cheaper and that will be true for the last six months contessa brewer. >>> russian attacks are continuing in ukraine and the fighting is most intense in the eastern and southern parts of the country. we're getting reports of strikes in donetsk and ukrainian officials say the recently liberated city of kherson has come under massive fire and they keep bombarding even though they retreated last month. >>> the accused was tried and convicted in less than a month after allegedly stabbing two members of iran's security forces this is the second execution of its kind that we know of, but activists insist at least a dozen people have been sentenced to death in closed-door hearings. >>> and the operator of the keystone pipeline system says crews have now contained a major league a failure in the pipeline spilled an estimated 14,000 barrels of crude oil in kansas last week. the affected section of the pipe has

batteries here, lithium batteries here, bring chips back here, intel, taiwan semiconductor, intel, qualcomm chips here, empowers the product to make here. the final assembly of the iphone is not the problem, it is the components. that is where the chips act, a number of other initiatives and many more that have to occur that government has a role in. we need to help fight through the bureaucracy and even the tax disadvantage if we want to have these key technologies back in the united states, not just for apple and the consumer but for national defense. jackie: sure, for national security. if i may just before i let you go ask but the report that tiktok, china is using tiktok and the data that it harbors from it to go after u.s. law makers? >> well, all of us that, many people i know have tiktok, all their employees. governor noem has taken it off her entire state. we recognize this is a clear embezzlement of product from all of us and, i would just say to all of your viewers, as much as you might like tiktok, if you put it on expect that you've given up a lot including your passwords and o

long duration high multiple names with lower multiple stronger growth names so let's say like a qualcomm with an invid you to balance out the risks, some things like that and then maintain your big staplish things like apple and microsoft, but be very, very careful in some of the in between growthier names. >> we'll see you soon. i know we will straight ahead we're going to talk about the apple question marks. shares coming off their best day in a month and still on pace for the best year since '08. we'll get the take on that in two minutes. 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 xfinity rewards is a program yeah... oh. dwhose sole purposet! is to say thank you with experiences big, small, and once in a lifetime. sometimes it's about cheering hard enough to shake the stadium. let's go! -haha, woo! sometimes it's as simple as movie night right here at home, on us. you mean the world to us

they think we're in the first phase of an industry wide rec correction and believe amd and qualcomm and amd the worst performer out of the group, almost 53% lower on a one-year base. >> micron reports next weekend. >> that was in november but that shows we were talking about just the memory pricing they are warning that memory prices have come down and they're going to reduce their production you had a call on western digital as well, same problem. memory prices are coming down and going to lower the average selling price and hurt margins and reduce production going forward. remember we were talking about industrials the hour before. it's the same. do you believe that we're heading in a recession if you believe it's a soft landing bet on these guys, if not bet on these guys. that's how we're dividing them. >> it's simple but not easy as they say thanks. >> kristina partsinevelos. >> stakicking with text, a twee, and soon, ladies and gentlemen, the coup de grace after tweeting today twitter was on fire musk's take overhas been a thorn in the side of tesla shareholders the stock is down 3

pe ratio qualcomm, 10. it's pretty cheap. down 32% year to date. medtronic down 23% year to date, that one's got a pe of 24, so a little richer. vodafone, it's still got a very low pe of 12. the stock graveyard is much more populated. has the fed just given us a signal to bring some of them back to life? let's get to the floor show, teddy weisberg and lpl financials' chief global strategist quincy cross -- crosby. you buying? you looking for some of the dead and bringing them back to life? >> absolutely. i mean, you know, some of these stocks have just been literally, they're been picked -- kicked and they're dormant. and if you're a long-term investor, and you have to be a long-term investor, you can start doing price, you know, averaging in every month. but you also have to remember that one of the fears in the market is that come 2023 first quarter, second quarter we're going to see problems with. earnings, and that could push the market down to test previous lows or at least maybe 10%. and that's the worry about coming in now and not letting th

take a look at this board right here we're seeing the chip etf almost up a 1.5 and nvidia and qualcomm as amd. amd and nvidia were picked as top tick picks >>> record revenues for the quarter for the egg producer it's comments on the avian flu outbreak that continues to drive prices sharply higher. there have been no positive tests of avian flu at any of its facilities eggs 49% higher year over year according to the last cpi report >> thank you. >>> when the clock strikes midnight in two day and is we ring in the new year, the clock will start ticking on the need for corporate america to refinance trillions of dollars in debt. that's something steve liesman has been digging into. this is a big deal, steve. >> yes, it is. because debt makes downturns worse and wall street is keeping a close eye on 2023 and beyond on corporate debt and the relationship with the fed because they have the financial crisis fresh in mind so-called rollover risk, the amount of debt coming to you next year, not as high as it could be they extended maturities during low rates of the pandemic. a trillion needs t