. >>> plus, we talked amazon and alphabet we also have apple earnings after the bell and qualcomm. we'll break down what to expect and rologic shares, we'll speak to the ceo ♪♪ inner voice (kombucha brewer): if i just stare at these payroll forms... my business' payroll taxes will calculate themselves. right? uhh...nope. intuit quickbooks helps you manage your payroll taxes, cheers! with 100% accurate tax calculations guaranteed. fed-fueled rally after policymakers slowed tightening to a quarter point raise hike. during the news conference, the fed chair said, cutting rates would be inappropriate he did not push back on market pricing for monetary pricing, citing disinflation 13 times barclay's joins us to talk about the fed presser yesterday. this violent rotation we've got not just this week but for most of 2023 so far is it too much >> i think so. i think the market has been hanging on to what we termed as a hope trade for a while now, cl clinging to a rally. i think we had a situation where even though fundamentally at a macro level, our equity, earnings level, things are quite

. >>> up next, reaction to qualcomm's mixed quarter and the weak guidance there.wns it which means we're talking to him next. conventional thinking delivers conventional results. at allspring, we break away with purpose. harnessing data-driven insights and boundless curiosity. we dissect the market from every angle. helping to build portfolios that redefine what's possible. because investing isn't one size fits all. allspring. purposefully divergent. you'll always remember buying your first car. but the things that last a lifetime like happiness, love and confidence... you can't buy those. but you can invest in them. at t. rowe price, our strategic investing approach can help you build the future you imagine. i screwed up. mhm. can help you build i got us t-mobile home internet. now cell phone users have priority over us. and your marriage survived that? you can almost feel the drag when people walk by with their phones. oh i can't hear you... you're froze-- ladies, please! you put it on airplane mode when you pass our house. i was trying to work. we're workin' it

and as we look at this competitive landscape, i know that arm is suing qualcomm because qualcomm had your chip architecture, and yet qualcomm had then gone out and purchased a company called nuvia which is a start-up founded by former apple and google engineers, and they are making their own chip ark ec church where does that stand? because i know january 13th was the start of discovery in the case. how committed are are you to seeing this all the way true? is -- through? >> you know, i can't comment on the litigation, i'll leave that up to our legal team. i can say though that we're very confident in our case, and we think the court will ultimately agree with us. liz: well, i get that, but do you envision a day where there is a possibility you could no longer have a relationship with companies and partners like qualcomm? >> you know, i would say this, liz, you know, we're an intellectual property company, and we are prepared to do whatever it takes to protect our ip. it's what we stand for, and we are prepared to do that. liz: little known fact about arm that i want our audience to

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qualcomm is up 20% and they're diversifying revenue here. i still like semis and tech in general.ace and i like it more than large cap tech >> rob, the stock is down 6.5%, that's tsm does this make you think twice >> we own a lot in the space, and i wouldn't be surprised to see many of the names give up their goens for a bit. if you own anything within semis focus on capital light businesses we own the equipment manufacturers there. these heavy capex and commoditized parts are dangerous and companies that don't need to spend a lot of money and are much less commoditized are the place to be. they're attractedive names you look at what happened monday with cadence design, cdns. they did phenomenal. and that's an expensive stock. to your point on selecting the right companies, it's about execution not just valuation in a space like this i know you've owned cadence for a long time, too. >> i think since its inception back to warren buffett, that's not his style of investing to quickly take a position in november and then exit the majority of the position subsequent to that, so everyon

charles: we're running out of time but qualcomm is another name.the story of qualcomm, jacobs family, what they did. a horatio alleger story. you don't hear about it anymore. i hear 5g, internet of things. i keep hearing blah, blah. when is it going to happen? >> it is underway. clearly economic impacts are slowing some things down for qualcomm and others right now. what we think will happen over the next 12 to 18 month you will see growth improve in their handset business, in their internet of things business and newer areas like the automobile business. they have a 30 billion-dollar design windpipe line. charles: right. >> you have a lot of growth drivers here. i think the ceo and management team are helping to diversify the company and it is becoming a more durable grower than people think. charles: all right. that's what i love, you're in there, you're looking deep, deep. everyone else is waiting for it to pop. you're buying it as a seed. dan, great stuff. appreciate it. >> thank you, charles. charles: folks coming up we have a power panel for

your morning movers qualcomm down in the premarket semiconductor company reported first quarter earningsght and missed on earnings and revenue the company's revenue decreased 12% from a year ago qualcomm is calling for sharper decline in the next quarter saying the economic environment in higher channel inventory is impacting results stock is down three and three quarters or% right now, stay with us, we'll be right back. before & bath fitter. now's the time to call bath fitter to get a beautiful "after." with our unique tub over tub process, there's no mess or stress. bath fitter. it just fits. visit bathfitter.com to book your free consultation. ♪ ♪ hi, i'm katie, i've lost 110 pounds on golo in just over a year. golo is different than other programs i had been on because i was specifically looking for something that helped with insulin resistance. i had had conversations with my physician indicating that that was probably an issue that i was facing and making it more difficult for me to sustain weight loss. golo has been more sustainable. i can fit it into family life, i can make meals

qualcomm and microchip out with quarterly results.ll break down the numbers as they head higher this morning. we'll speak to the ceo of microchip. "techcheck" is back in a moment. >>> welcome back let's turn now to qualcomm, take a look shares up about half a percent posting a miss on revenue. quarterly guidance falling below expectations the ceo weighing in on the earnings call highlighting softening demand, higher inventory, adding the company will be tightening its belt, limiting spending, moving forward, carl. at the same time a lot of people saying this quarter not as much of a down side surprise as last quarter and handling costs pretty well. >> guiding ups at 215. the street at 229. i don't know, jon, whether or not you think you can take that, amd, and others and argue the guidance was nowhere near what we were afraid of. >> and speaking of relatively good news out of chips very different story for microchip. we have the ceo joining us now after delivering a beat across the board in their latest results. upping the dividend, g

. >> the headline is tesla is a buy for over a five-year frame i think that's a focus point qualcomm number three here it's having its third straight week of gains. you think that are' cornering the market for a.i. mobile devices? >> >> that's correct they have synergy with 5g in the cloud as well. as we know everyone has a mobile device this is a space that's going to continue growing over the course of the next five years when you combine 5g plus the cloud, plus a.i., i think this one is going to be a long-term winner and right now it has relative strength as well. so i think for all of these reasons this is going to be great long-term pick. >> qualcomm with tesla and deere. your bail is probably the original a.i. play in the market and if you don't know what i'm talking about, it's irobot, on pace for its third straight year of losses and you're saying people don't be tempted, stay away. >> there's a few reasons i don't like the technicals. it had a big boom and then a bust in addition to the fact that fundamentals aren't there, you look at earnings, they're all over the place but

chip maker qualcomm. ♪ >>> let's take a look at what's happening in the week ahead.th a key business indicator from the world's biggest economy. the u.s. composite purchasing managers index for february will come out on tuesday. january's figure was 46.8, the seventh straight month of private sector contraction. business activities in the manufacturing and service sectors fell, but the pace was slower than before. total new orders fell modestly in january across the private sector. weak domestic and foreign demand hampered new business as new export orders fell. the u.s. federal reserve on wednesday will disclose the minutes of its latest two-day meeting. the central bank raised its benchmark interest rate this month by a quarter of a percentage point. the fed drastically raised rates by three quarters of a percentage point four times in a row last year. it then slowed the pace to half a percentage point in december and reduced it further this month. slower u.s. inflation was behind the move. chair jerome powell said he thought for the first time that this inflationa

chips, including intel and qualcomm, which were previously allowed to work with china as an exceptioneived an order to stop supplying chips to china officially due to the fact that the chinese giant is allegedly associated with the chinese government and the chinese army, but not officially the whole point is us fears of chinese technological leadership. and although washington itself prefers to call what is happening not technologists. magical war and competition with china, they are changing the main beijing. by all means cut off from advanced semiconductor technologies. in general, this is why the united states is promoting the same taiwan issue of taibevich. produces 90% of all chips in the world, including the thinnest, most powerful and under the pretext of the upcoming alleged chinese invasion, washington is withdrawing technology from the island to itself, but now, they are also actively involving antikit. if this is the chip pact of the world's main manufacturers of equipment for the production of chips, the companies of the netherlands and japan and this leaders in the produ

release, for example, laptops on intel processors with windows on board or smartphones based on qualcommt only 4g and now, according to bloomberg, a complete ban is being introduced on the supply of huawei software and equipment, all new license applications will be rejected and those that have already been submitted have not yet been approved and most likely will not be approved and an official ban may be introduced in may 23 exactly four years later. after the initial inclusion of the company in the black list of mentors, let me remind you. in 2019, the us finds a trade war. with china accused huawei of industrial espionage. later, the government, china and theft of technology or made it impossible to purchase equipment and software from american companies without special permission from the us government in august 2020, huawei prohibited its subsidiaries from purchasing semiconductors without such a license, including chips, proprietary designs, praise buttons, modified by foreign companies using american technology or technology , and it is almost impossible to do without them in the

you can get some word looking -- forward looking guidance on that from qualcomm. in their call they were talking about softness and the handset marking carrying on for the first half of this year. otherwise, it is all about apple managing its supply chain, costs , but ultimately they missed across most of their segments in what is a challenging macroenvironment, and acknowledge that as well. shery: we are looking at amazon for a feel in consumer demand right now, but it was there web services side of things that showed slowing down. >> this what the surprise, the fourth quarter for amazon was pretty good but muddled because they took an impairment charge on the layoffs. that was to the tune of 2.7 begin dollars, which reflects the cost of severance for the 10,000 layoffs at the canals. $2.3 billion it decline in the value of amazon's rivian shares. the forward-looking commentary was not as strong, they saw first quarter revenue coming in at $121 billion to 126 billion dollars, below street consensus for what they were hoping to hear. the commentary is around ongoi

ohio >>> chinese smartphone giant xiaomi is launching 13 pro the hand sets feature tech from cqua qualcommmc ceo. we have the home price index and consumer price index happening this week. also on tap is investor days for goldman sachs. arguments to the supreme court on the biden student loan forgiveness program. earnings from kohl's and lowe's report this week on thursday, a big day with earnings from kroger and nordstrom among others with jobless claims out for the week. and services pmi is out on friday and president biden will welcome olof scholz to the white house on friday. >>> we are coming off a difficult week here on wall street if we opened right now, the dow would open 140 points higher and the yields are moving higher the 2-year treasury at 4.814 the inverted yield curve is something we need to watch energy with wti above $76 a barrel watching natural gas which is up 1.5% the dollar is coming off the best week since september. up 1.5% year to date up 3% alone in february. and then cryptocurrency with ethereum and bitcoin solana is the hardest hit down almost 3%. >>> let's get t

quarter difficult conditions were putting pressure on with existing and newer customers >>> finally, qualcomm beating on e and missing on revenue it expects an 18% revenue decline in the second quarter due to the weaker market and covid lockdowns in china the ceo stating they are pr preparing for a difficult quarter. >>> major share buyback announcements with meta doing so with the $40 billion initiative and that comes on the chevron $75 billion plan bob pisani points out that before meta announcement, there were 44 in january all announcing programs worth $5 billion or more. overall announced buybacks have tripled to $132 billion from a year ago so far, it is big oil feeling the wrath of the biden administration going after chevron and exxonmobil over the record profits m for more, let's brian wing in j pethokoukis. >> thank you, frank. >> jimmy, do you see the white house speaking up or intervening when it comes to buybacks from the other companies? meta's $40 billion is not chump change >> this is why the issue drives me crazy and politicians drive me crazy the fact we pick and choose comp

i'm talking about qualcomm. 2.5% lower. that's a pretty weak forecast. at first it was not that much of a decline because we saw that coming, a slowdown in the smart phone market. listening to what executives have to say on the call, the losses are accelerating post-market. this is bloomberg. this is bloomberg. if your business kept on employees through the pandemic, getrefunds.com can see if it may qualify for a payroll tax refund of up to $26,000 per employee. all it takes is eight minutes to get started. then work with professionals to assist your business with its forms and submit the application. go to getrefunds.com to learn more. caroline: the earnings come fast on thursday. amazon was among them. earnings showing some lackluster forecast coming through down three point 7% immediately after hours. slower crowd unit growth, aws. let's talk to the cofounder and president of pack view, all about making the best of e-commerce provisions and marketing, and also a 10 year amazon veteran. you know this business, particularly on the e-commerce side. let's

main beneficiary of the ai boom supplying all the fast chips too and creating the software and also qualcommllite messaging on android phones. stuart: socks earlier and 78% in eight weeks. susan: that's impressive. stuart: for a stock that size, nvidia, up 67% in eight weeks? that's a stunner. susan: $400 billion chip maker. stuart: look at this, a new fox poll finds and shows 57% of people have less money in their pocket than a year ago. steve forbes on the set in new york city with me now. is that biden's fault? >> yes, he's been in charge for over two years, he's ft. put in massive new regulations x-rated for energy and inflation gone up and border is open and more crime hurting the chips act and wants to raise taxes even more. what's not to dislike about a program like that? stuart: well, what's not to dislike? we start a double negative and it's a terrible record. it's all inflected and can't blame trump for raising taxes and can't blame trump for piling on regulations and trump did just the opposite. stuart: he did exactly that. i want to bring up warren buffet pushing back on crit ibr

i'm talking about qualcomm. 2.5% lower. that's a pretty weak forecast. at first it was not that much of a decline because we saw that coming, a slowdown in the smart phone market. listening to what executives have to say on the call, the losses are accelerating post-market. this is bloomberg. ♪ caroline: the earnings come fast on thursday. amazon was among them. earnings showing some lackluster forecast coming through down three point 7% immediately after hours. slower crowd unit growth, aws. let's talk to the cofounder and president of pack view, all about making the best of e-commerce provisions and marketing, and also a 10 year amazon veteran. you know this business, particularly on the e-commerce side. let's start there, millicent. look at these macro economic headwinds. are they navigating it, focusing enough on trimming cost and growing growth in the way you would like to see them? >> they are definitely focusing on that. i would say they are focusing on profit at this point. amazon is famous for changing quickly. they can go from driving growth th

pointed outside, too, qualcomm out at 4:00 p.m. those earnings after the bell. >> thank you very much. >>> where we start tech titans in focus meta kicking off a year of efficiency, it calls it, and hopefully not spoiling it for them amazon, alphabet and apple about to report. tech titans of our own breaking this down. deirdre bosa, julia boorstin and live from cupertino, for apple julia, start with you. again, this maybe meta up pront everywhere stocks green high expectations now. >> yeah. really interesting if you look at what meta's performance has done to some of these other social stocks. snack, its stock way down and rebounded today. up 11% last time i checked and same reason is -- same fact the reason by pinterest is up over 8% now. an idea maybe the ad market stabilized and more upside potential. because meta laid out a vision for how they're going to make more money on reels. also click to messaging ads and fundamentally lapped their challenging interaccesses with that apple operating system change, harder for them to targ

investors included intel corp qualcomm, goldman sachs, were vested in 17% of global deals with chineselion dollars. the flow of u.s. money raising concerns that investors are sharing a lot more than capital some say, we are also transferring valuable knowledge to chinese tech companies, can be used to enhance chinese military. >> there is a tremendous amount of engagement in commerce between united states and china but god forbid if a war comes about going to look very, very different there is going to be increasing pressure on economic actors to shield themselves from this chinaed of exposure chinese are not gentle about it going to trach advantage of their leverage where they can. >> troubling maria the report found american investments are often intertwined with other chinese investors foreign money at least one case, american firm was found to have covested in have chinese artificial intelligence with another chinese firm, that other chinese firm was on the u.s. department of commerce, liz a trade blacklist that company red flagged recommended to have been treated with caution not

that's what we like, and think it's a really attractive buy qualcomm, they're doing very well in a horribleironment they are where you want to be in terms of wireless communications, whether it's for phones, automobiles or industrials. >> we'll leave it there. david, thank you for your time good to see you again. >> have a great weekend. >> david cat was matrix. >>> amon >> this is the first on the record response to this week's new allegations that were contained in a legal battle over the dealings with sex offender jeffrey epstein. attorneys for the u.s. virgin islands wrote that jpmorgan's banking relationship with epstein was known at the highest levels of the bank they released an email in which a banker says of epstein's account, i can't imagine it will stay, pending diamond review that's a reference to jpmorgan officer jamie dimon, that he was going to review the epstein accounts in 2008 epstein remained a client until 2013 but a spokesperson for jpmorgan said we have not seen any evidence of such a review. a source familiar with the bank says the 2008 email that surfaced was sent by

earnings from amazon, alpha get and qualcomm all hitting as we speak.iggie, apple, at the bottom of hour. new questions swirl as a supply problem turned into a demand

mentioned 200 times this quarter but not just by the mega caps, but large cap names like qualcomm andn to alphabet our next guest is out with a new note after yesterday's sloppy chatbot rollout, with an eye on traffic between google and bing. noah rates alphabet a buy of $135 brian, break down this threat. is it really as big as the market initially is making it out to be? google is down another 5% yesterday. it's delta between it and the other mega caps this year has widened. it's a massive overperformer is that overdone do you think microsoft could actually secure the distribution to make bing a real competitor >> thanks for having me. i would argue it is overdone, but this market and this tape doesn't like uncertainty and i think one of the important points of what we've been doing is there is a lot of incremental uncertainty about the higher cost of all these ai tools and new language models, which are going to come to search over the course of the next two to three years. i don't worry about alphabet and google's capability to sort of maintain a very strong position at the top of

the coffee chain's second largest market shares down 4% another name sliding, qualcomm, mixed results as the company navigates weak demand for smartphones, but an excess amount of supply. you can see the shares are down about 1% they're down around 25% over the past 12 months finally nordstrom, those shares are surging on a report that activist investor ryan cohen is taking a stake in the retailer the report says that cohen was chairman of gamestop will push for changing to nordstrom's board. those shares are up 21% right now. cohen is busy on the activist front, david >> he certainly is uncertain outcomes let's turn to the jobs number, non-farm payrolls increased by 517,000 jobs in january. let me say it again, 517,000 jobs it was so far above system, i mean, there was no one, i don't think, steve liesman, that was close in guessing that number. what happened here and what is the impact going to be on fed policy >> well, i think the first thing, david, is what's happened is, the idea that the market is made of -- the outside jobs number to see the world more like the fed does, with t

and i was talking to mark mclaughlin about this, chairman of qualcomm, former ceo of palo alto networks. very often, the industry kind of knows what the next big thing might be like, they knew mobility was the next thing back, you know, 20ish years ago and microsoft had pocket pc, hp was doing stuff, but they didn't get it right apple got it right so, yes, ai might be the next thing, carl. but the question is, who's going to get it right. mclaughlin believes that it's integration of ai at the application level in ways that are significant and deliver value. and as exciting as the open ai stuff is, you can go in the browser now and try it out, how does that get integrated at an application level, in way that delivers value that customers are willing to pay for at scale? we haven't seen that yet >> no,although, i would note that "forbes" today has a story about sergey brin making his first code request in several years. and everyone rushing to approve it of course, semifore with his piece on bing' revenge, bing playing the long game finally seeing things turn his way after the break, we'l

. >> so, i hear a lot of similar positioning from qualcomm, which is diversifying into industrial iotnufacturing, automotive, not just smartphones that's still a big part of the business, though and over the past couple of decades, arm has tended to be smart about doubling down on areas like graphics chips, on areas like servers where you think you can have unique designs that make a difference what are you focused on now for that kind of value add where you think you can get more revenue, more profit dollars, how much are you investing, for example, we've been talking about it today, in ai >> the dna of the company is really around power efficiency if you think about how the company was born into smartphones, that kind of sensibility really served is us well fast forward into the data center and evs, power efficiency becomes increasingly critical because more and more of these compute workloads demand more and more compute power in the data center you have kilowatt hours up. have an ev with a limited amount of energy, which lends itself well to efficient architecture, which is where

the memory side, three straight weeks of declines intel down almost 50% from its recent highs even qualcomm, which is all the way down here, down a little bit over 2% after announcing, even though it announced a new software service to keep tabs on the supply chain in real time. you can see, sea of red, though he >> isn't it, though? kristina, thank you very much. as mentioned, the markets reacting to earnings report from two big retailers today. walmart and home depot let's bring in cnbc.com retail and consumer reporter melissa repko. it's almost unfair they both report the same day because are they both telling us the same kind of thing? i'm just looking at the fact that home depot's the worst stock in the dow while warmt's the best right now >> there are some similarities but there are some differences, kelly. the one similarity is both companies were saying they realize they might have to work harder in the coming months to get consumers to spend, that consumers aren't spending as readily as they were a year ago, he even six months ago perhaps but they have a different kind of consumer.

they've gotten sued by samsung back in the years and years ago, they got -- they were in ip suits with qualcomm'm not very worried about this one. cheryl: what about the foldable phone? seeking -- speaking of samsung, because apple reportedly has been working and has been for a long time, on a foldable phone. is that a reality? >> well, you know, i'm not a big fan of that idea because although it might be attractive to some people, the mechanical aspects, you know, apple's moved away from moving parts. in other words, think about even you used to have a button to press for your, you know, touch id. that's gone. it's face id only. they want to get rid of the buttons that even tell the volume up and down and be touch only because anytime you add mechanical complexity, the device ends up, you know, having fault in some way, in some, you know, it's going to fall apart am -- at some point. i'm not a fan of the fold, but it might be something they might consider, and i think they're watching closely what the others are doing, samsung in particular. but as a category, you know, extension, i i think it

qualcomm down by 3.2%.e potential new businesses picking up but you are seeing this bifurcation within the chip sector with respect to taiwan and samsung getting market share. the rest of them kind of losing and trying to find out what the new business model is going to look like. how much is this endemic of an environment where money is not free anymore? jonathan: i think it is true of a lot of tech firms. which is why the earnings call talking about ai. ai, ai as we look at deceleration in the cloud business. tom: they are hardwired to do that. there has to be winning applications of ai, but what is the other thing we are doing? jonathan: chatgbt. tom: it is all the rage. jonathan: one hour away from the payrolls report. 190,000. ellen zetner looking for a pause in march from the federal reserve. tom: it is an outlier call from zetner of morgan stanley. she cut her teeth with amazing consumer analysis years ago and has moved on to a bigger picture of the market. she joins us this morning. i am going to go