. >> the qualcomm starts today. they loses, nice to meet you. >> we'll see you later this morning. >> see you in a bit. thanks, guys. >>> when we come back, we'll talk all things elon musk including tesla's big rally and how his support for the president has paid off, and a target increase. take a look at the packed week of earnings. the macro, the fed, back in a moment. we earn your trust. maintain our financial strength and stability. and deliver solutions that meet complex needs. massmutual. partnering with financial professionals, benefits brokers, and institutions. (traffic noises) (♪♪) the road to opportunity. is often the road overlooked. (♪♪) at enterprise mobility, we guide companies to unique solutions, from our team of mobility experts. because we believe the more ways we all have to move forward. the further we'll all go. what if your mobile network wasn't just built to work out here... ...but was designed differently to also give you blazing fast wifi where you are most of the time? reliable 5g, plus wi

qualcomm is one of arm's biggest customers, and nearly all of qualcomm's chips use arm's technology:ek a mistrial. experts say a future trial could be on the table, but we're unclear on whether it would lead to a different outcome. what it does suggest to wall street analysts is the prospect of paying arm higher royalties is off the table. you're seeing shares get relief with the stock up 1.7%. arm holdings, as you see, down 5%. scott and sarah. >> seema mody, thank you. >>> our next guest has nvidia has one of the top picks, saying the ai cycle has legs. cantor fitzgerald analyst s us now. you have a buy rating, welcome. let me get reaction to the news related to qualcomm since you cover it, and you only have a hold rating on it. how meaningful is this? >> well, you know, i would say that, you know, obviously arm is trying to juice up the royalties stream, and you know, i think that on the other hand, qualcomm, you know, has been very successful in court over i think the last four or five rulings. whether apple or everyone else, so i think, you know, it substantiates nuvia, it subst

we have qualcomm at the top of the list. up 3%.m won a trial against rm as it pushes into chips for the pc. also on the list is costar and tesla and broadcom on the list. let's bring in steven wieting at citi wealth. steven, good morning. great to have you here. >> thank you. >> steven, we saw a bit of a rally on friday following the comments from goolsbee and john williams. how do you see today shaping up? >> this is the holiday period. we can move markets around a great deal on an i little bit of momentum and inertia. there are physics terms of investors participating. you can have markets move off in a volatile way. it is not meaningful in price setting in figuring what the economy will like in the coming year during a week like this. >> we mentioned the rough week for the markets lasts week. what is your word of the day? >> again, it is momentum. it is that we can just find periods where investors latch on to a rising trend or a falling trend and push it just a bit too far. you know, we had a return in the last 24 months of 58%

a rumor of qualcomm looking to buy intel. the fact that qualcomm commented on it at the time they are not going to consider anything until after the election and so here you are, not a lot of great history seeing a ceo ousted, a board shake up and seeing kind of a merger or an acquisition of this sort of size. i think to tim's point who benefits? taiwan semi, it was up 5%, i was curious. the maker of the chips but there must be an angle there. we talk about it all of the time. stock picker's market. you don't want to buy value stocks in a rip-roaring bull market like this. they don't work particularly well. at some point you are starting to see a lot of crap rally while the mark set broadening out. if it can not get out of its way, just assume whoever takes over they will do what he did in early 2021. >> not have a plan? >> no, clear the decks, going to guide down. >> yes. >> more gaps to be had in this one. >> let's say we are trying to find the value here, what is the path in your view -- if they shed manufacturing, don't g

it may be tempting to say qualcomm and intel could merge. do not see that is a good opportunity to generate synergies. the chips are very different. manufacturing is a complex business. that scenario scares me more than anything. bad decisions can typically arise in a situation like that. the best thing is to be like, how do we make sure we create a sustainable u.s.-owned on u.s. soil manufacturing capability? if you do that, you have to admit you cannot compete with tsmc. you need to partner with tsmc. you need to find other large partners that will support you. the one that comes to mind is nvidia. like an intelligent partnering around manufacturing with tsmc and nvidia as a partner would be a much more interesting route to pursue from here. caroline: there is ongoing breaking news around this story. bloomberg leading the charge with how pat gelsinger was forced out after the board group frustrated. the biggest frustration was that they missed the ai evolution, jumping on and being able to ensure what they produced was able to compete. the

qualcomm off by a percentage point and apple up .3%.ive years they have been focused on this in house motive system and it will be debuting next spring according to people familiar. we will bring you more on this story. we were just talking about how the expansionary nature of the ransomware attacks unfortunately. can you paint a picture of what it looks like going into the next administration, 2025. are we likely to see the narrative their change around it data protection, data security, cybersecurity? bipul: the next administration will be an america first administration and will -- it will spur more insider attacks, cyberattacks. we believe that the next business -- administration will be a business focused administration. the outlook for cybersecurity is grim. as they expand internationally, expand their business, create more digital transformation article is to have -- our goal is to help every business confidently transform themselves digitally without wondering how they will keep their services up and running. caroline: we have n

it will take away qualcomm's license to use important chips in cell phones and laptops. the smart money is betting on a settlement. tuesday morning we get retail sales numbers. now while this number does come out on the eve of the fed meeting, these numbers will be hotly debated as we try to figure out the state of the consumer. the bond market had a terrible week so cooler retail sales numbers could be a self-fulfilling antedote. general mills had an upgrade thanks to accelerating pet food sales. i think that his chief objective is not vaccines, it's healthier eating. he seemed to confirm that when i spoke to him. if it that's the case, general mills could be in trouble. sugared cereals are a big part of them. then we have smoirts. micron had a nice rally today. i think you can tell a good story about the entire line of chips, not just the others. lennar, a less than perfect quarter. it's a casualty of the frail bond market which is not cooperating with the fed's rate cut agenda. the mortgage rates are steadily high. we are not getting the turnover we would have expecte

meanwhile, take a look at shares of arm, at the bottom of the nasdaq after a legal win for qualcomm.ocessors are properly licensed under an agreement with arm. arm says it is seeking a new trial. meanwhile, wanted to check on other chip makers because those are really on the move this afternoon. global foundries advanced micro devices and broadcom all heading significantly higher in the final hour of trade. dross fa pharma surging after ty showed progress in the development of the h5n1 bird flu. the drug showed safety and tolerability in the phase one trial and will begin a phase two study early next year. we will be talking about the impacts that the bird flu is having on the price of eggs and we're doing that with grocery chain owner stu leonard junior later in the hour. first up, you have to work off all the holiday time feasting, right, all the chocolate that's floating around the office. we're talking about new year's resolutions sending americans racing to the gym every january and how the ozempic craze has changed the fitness game. the ceo of crunch fitness is here in a fox bu

shop qualcomm today. >> we're back with the story of alexandria and anastasia duval. the identical twin sisters were driving in maui when alexandria sped their car off the edge of a cliff, crashing into the rocks below. alexandria survived. anastasia did not. and what appeared to be a tragic accident became a murder investigation. when maui police got the call about a crash on the steep cliffs of hana. first responders knew it would be deadly. alexandria duval, driver in the crash that killed her twin sister anastasia, is awake in a maui hospital, but she isn't talking to police, so forensic investigators recreate the fateful plunge that killed anastasia to determine if it was all a drunken accident or something even worse. maui accident investigators sergeant lawrence beecroft and i went back to the crash scene. >> i saw these two marks. and these marks are unique. very unique. when i saw these. these are not breaking. these were your marks. >> beecroft says your marks are curved marks that show the driver likely made a very sharp turn. >> you could see the marks ind

they want to work for qualcomm. they want to work for kla-tencor. et cetera, et cetera. and intel is just at the bottom of the list. and that means its slump is going to last for a while. so how did nvididia come such a juggernaut? how was it able to flip this. and it's connected to that ai processor. correct. yeah, very much so. and even before that, nvidia jumped ahead of its competitors in just about everything. credit ceo jensen huang, who is one of the richest men on the planet right now and has earned it. they got into mobile ahead of everybody. intel missed that boat. they got into even bitcoin mining ahead of everybody. and then most famously and recently they got into ai chip making ahead of everybody. intel missed that boat as well. that's how you become an nvidia briefly was the most valuable company on the planet, even ahead of apple and microsoft. it real is running the show right now with the ai revolution. and that's the hot thing. and intel is ice cold. okay, that's a lot of boats to miss for sure. now, intel got $8.5 billion from the biden administration

shop qualcomm today. >> now for a true crime news update. when jami dickerson was told that her daughter tiktok star april holt, had died by suicide, she knew in her gut that investigators had made a mistake. >> once again, i feel like they're failing my family. they're failing apryl. they're failing her children. but i have to move forward. >> jami dickerson says she feels blindsided by a justice system that she says has continued to fail her daughter at every turn. >> i'm frustrated. i'm frustrated that the da did not listen to me when i said i wanted the charges dropped. >> it's a story we first brought you on true crime news. jami dickerson fighting for her 29 year old daughter, april holt. >> i won't take your brush and your phone. you're going to shake your phone up. >> who used to spread positivity on social media, where she amassed 200,000 followers, spreading love and also giving beauty tips. >> she's just been a bright light for nashville. she has done nothing but encourage people. >> april's death, made worse when jami was told he

pasamos a mÉxico, donde dos videos han generado mucha polÉmica porque las autoridades autoridades de qualcomme coalcomÁn, michoacÁn. >> un funcionario dio las gracias a nemesio oseguera cervantes, alias el mencho, por regalar juguetes. muchas gracias. pero nemesio oseguera cervantes es considerado por autoridades mexicanas y estadounidenses como el lÍder del cÁrtel jalisco nueva generaciÓn, la organizaciÓn criminal mÁs poderosa y violenta del paÍs. van al frente y tampoco es la primera vez que en ese municipio hacen menciÓn al narcotraficante. el 10 de diciembre pasado, durante una ceremonia para conmemorar el 193 aniversario de coalcomÁn, la alcaldesa del municipio, anabel Ávila castrejÓn, encabezÓ la ceremonia al lado de un coronel del ejÉrcito y otros funcionarios locales del cÁrtel jalisciense. en el video se observa cuando ella participa en una pelea de gallos. de fondo se escucha un corrido dedicado al mencho, a las Órdenes del mencho. ambos videos han causado revuelo en redes sociales y tambiÉn polÉmica. la alcaldesa se ha deslindado de los hechos, pero el gobierno dede michoacÁn advir

presidenta de mÉxico se pronunciÓ en su conferencia matutina sobre la situaciÓn de la alcaldesa de qualcommdos inyecciones administradas por tu proveedor de salud tan solo 6 veces al año. no recibas cabenuva si eres alérgico a sus ingredientes o si tomas ciertas medicinas que pueden interactuar. los efectos secundarios graves incluyen reacciones alérgicas o erupciones cutáneas reacciones después de la inyección, problemas de hígado y depresión. si estos ocurren, busca atención médica de inmediato. informa a tu médico sobre tus medicinas o suplementos, condiciones médicas, problemas de hígado o riñón, salud mental, embarazo y lactancia. el efecto secundario más común es una reacción en el lugar de la inyección. ¿estás listo para hablarle a tu médico acerca de cabenuva? ♪♪ southern new hampshire university hace posible lo imposible. puedes terminar tus estudios a tu ritmo y a un precio accesible. desde el momento que apliqué online para snhu, el proceso de admisión fue bastante fácil y me apoyaron muchísimo. con más de 200 carreras universitarias para elegir, southern new hampshire university

dos videos han generado polemica porque las autoridades de qualcomm en michoacan agradecen nada menos. el esta considerado por las autoridades como el lider del cartel jalisco nueva generacion. la fiscalia general de mexico ya investiga estos actos y osorio tiene todos los detalles. >> de ver a cervantes en la plaza publica del municipio de walkman, michoacan. un fun funcionario dio las gracias a nemesio oseguera cervantes, alias el mencho, por regalar juguetes. muchas gracias. pero nemesio oseguera cervantes es considerado por autoridades mexicanas y estadounidenses como el lider del cartel jalisco nueva generacion, la organizacion criminal mas p poderosa y violenta del pais. y tampoco es la primera vez que en ese municipio hacen mencion al narcotraficante. el 10 de diciembre pasado, durante una ceremonia para conmemorar el 193 aniversario de walkman, la a alcaldesa del municipio, anabel avila castrejon, encabezo la ceremonia al lado de un coronel del ejercito y otros fu funcionarios locales del. cartel. jalisciense. >> en el video se observa cuando ella participa en una pelea de gal

so i think all of this do minds, qualcomm, those are conclusions that the, the situation around that i live for is a one part of this situation in the every area in the brain. somebody let me run again. if i could just bring it over again, that's the focus again on the, on the on, on, on to t is position because the turkish foreign minister, how confidant said he wants to react today each, this a storm, a process that we have been talking about. one assumes now whatever involvement took you had in this offensive, it certainly gives the president of the one much more leverage. what would you say? all the things that to, to the 11 time, assuming the priorities of the return of refugees who are in tokyo, back to syria, to do something about the could the situation so ready to tear which starts hand through the russian. you see line, you can test out, the reasoning was quite confident in the gains, and there's no motivation of that subdivision with the state that has given them the impression that i thought can be normalized without giving any concessions for this, you know, position i w

qualcomm or broadcom might see a use. tim: busy days ahead, appreciate you joining. swiss code specializes in providing online financial services. broadcom and tech platforms. what eating are we in -- what inning are we in? >> it justifies the extension of the rally. broadcom announced revenue growth for the ai business of 220%. they are looking for 65% growth revenue. those are the big numbers we like in the ai and tech stocks. that's a boost. we are impressed by the production, a projection of a boom in the ai business, custom ai chips in the next few years that fits in the middle of this narrative unfolding that the big tech companies are building their own chips. that means they will be users and winners. we expect a change of scenery in '25. tim: let's start with the losers. who? ipek: don't want to say losers. nvidia is not smiling today. we are now in this narrative of big tech making 50% of its revenue last quarter trying to build their own chips. amazon training tips. everyone is building their own chips for cost efficiency. nvidia will have to replace these

they have deals with the likes of aws, amazon, talking to qualcomm and some others.n intel, perhaps doing some sort of a takeover. there were headlines that interest had waned. a lot of questions structurally about what intel does to finance this chips manufacturing need that the west has but particularly the u.s. has. >> all right. thanks, jon. it's what makes the news business interesting. that's why it's called news, i guess. >>> let's turn now to the debate over the fed independence and how incoming president donald trump may try to influence fed policy in a second term. former kansas city fed president thomas hoenig joins us. he wrote about this topic in an op-ed in "the wall street journal." he's a distinguished senior fellow at george mason. you laid out in your op-ed you don't think donald trump is going to try and fire jay powell or end his term early. what do you think? >> well, i think the situation is such that jay powell and the federal market committee is on an easing move right now. why would you fool with that as long as they're not raising rates? i w

>> we have to talk to your buddy at qualcomm. china is really tough. >> some of the pmis at the bottom of your screen. for more, let's get to rick santelli. >> reporter: this is the manufacturing pmi and it's a final reit. we removed the mid month reit which was the best going back to july of this year. but it did improve, 49.7. it now moves back a month in its comp. it's the best number since june, and it's still the fifth in a row under 50. when was the last time it was above 50? you guessed it, june, when it was slightly above 50. we have construction spending at the top of the hour. interest rates are up. friday we saw them drop. back to turkey day, we're basically unchanged on a two year. up half a dozen in a ten-year. "squawk on the street" will return after a very short break. [alarm beep] you make it through security so fast, ♪♪ the agents applaud. your travel itineraries are so well written, they're on the best seller list. and you have access to lounges that don't officially exist. that's why you rent with national, whe

qualcomm, up to .3%. that is your opening bell report. tom: thank you so much, lisa. to all of you worldwide on bloomberg television and bloomberg radio. for those on the east coast, good morning in washington, up through 11.3 in boston. in my right, there are two trains? paul: there's a train going every hour, at least. tom: so you say. paul: take the next one. tom: it's a winter wonderland. cleared up in new york, it's important to have worse weather in milwaukee. all spring global investments, that's where winter is winter. i want to talk about the future of value investing. i know that all spring is venerable. i think of john kerry pioneer, or i mentioned john templeton earlier with his measurement on the growth fund years ago. what does the future of value investing look like for anime lety as you shift to the etf world? >> it's a great question, tom. thanks for having me on. merry christmas to you and paul. i think i like underdogs. not just the green bay packers. i also like small-cap and mid-cap. i think that when we look towards the future, that is where i se

we heard from qualcomm, so many companies lifting alternatives.alternative and they need more capacity for this ai opportunity. we want extraordinary story. i hate to bring up intel and elon musk but musk has been buying anything and everything recently. i'm not speculating here, but what would happen if we were to see musk take over intel? >> interesting question. the alternative could be sam altman. here's an opportunity to come to the party. for elon musk, it would be deep cuts. we've seen how he runs companies, very hands-on, very flat leadership organization. until continuing to make more cuts. a lot of people saying there's a lot of flow, the company got large and distributed and bureaucratic. elon would bring it back to profitability and would not care what outside activists think because he's going to do it his way. stuart: the stock is up 8% or 9%. there is some suspicion they are late to the ai party but that doesn't seem to be true. >> the party is just beginning. we hear different metaphors, we are in the first half of the beginning of

tesla, qualcomm, nintendo. these are some of the global stocks to watch the coming year.rucking some 2000 companies from a variety of industries and they have identified 50 that are worth watching closely. many of them are tech companies. let's bring in max to talk about a trump trade. it is up 300%. tesla has been phenomenal growth since trump came into the administration. what are the analysts thinking? >> give a trump trade and a general vibe-ai thing going on in those feeding and. palantir sma i connections as well as it is a defense contractor. there's a case there that maybe they will do better. tesla, elon musk having the ear of the president-elect is a good sign. with both of those stocks, there is a sense that they are very highly valued, perhaps relative to where structural revenue is -- their actual revenue is. it isn't as far ahead as google or openai. tesla talks a lot about self driving cars but they have not sold one. that is the tension. caroline: the interesting shift we have seen this may be a slight pullback on chip companies. a lot of exuberance in 202

down on the news, off by 5%, as they understood that qualcomm had their first day in court, vying overure of their relationship. maybe some hypotheticals as to what it could mean in terms of the holding that softbank has in it. let's also discuss what it means for the landscape more broadly in the united states from a vc perspective. there is plenty of news when we think about american ai startups. we've got up perfect voice with matt. you are someone who has just been allocated interestingly to a public company based in europe. thinking about ai infrastructure and access to the cloud, you are thinking about turf warfare out there for allocating money to generative ai. this is just going to add to the party, right? matt: absolutely. we are big believers that we are only in the early innings of laying down that infrastructure that will be required to support this massive technological wave of ai and this committed investment doesn't surprise me at all. we need that infrastructure and i'm surprised to see more of it being laid down. caroline: you just made this allocation of funds into a

nike up 1% right now let's take a look at the s&p 500 winners, brad, amd up three to half percent, qualcommrochip and land western holdings all of the stocks from 2 - 4% and yes let's take a look at the nasdaq winners, brown, call quorum and up anywhere from 2 - 4% on the nasdaq. there you have it with the dow still up 140 odd points. coming up saturday john fetterman had some kind words for donald trump. listen. >> you have a singular political talent. it's undeniable. trump, he had the energy and almost a sense of fearlessness. >> fetterman went on to say he is rooting for trump to succeed. we all should it's good for the country. beck and others in the democrat party bridge the divide? we will discuss it with brian kilmeade. meantime the president elect is demanding more from lower fees with the ships passing through the panama canal. >> has anyone heard of the panama canal. because were being ripped off at the panama canal like were being ripped off everywhere else. >> panama refuses to lower prices, trump wants control of the canal to return to the u.s. can he do that, interesting ques

qualcomm sold off for the second straight day. profit-taking is still want to watch when we're looking up broadcom. chipmakers stepping on micron. can we see high-bandwidth memory deliver? can we cai demand deliver from micron? let's get to this key story of the day, the merger discussions. nissan in talks with honda and it would be a deal that could create the world's third-largest automaker with a better chance to compete with toyota and tesla in the eb space. -- in the ev space. the discussion between the two may have accelerated after foxconn actually approached nissan about taking a stake. japanese companies trying to fend off international investors. >> this is a case of a company that has been challenged for years, since the moment carlos ghosn was unceremoniously arrested by folks in japan. there was concern within the government about the long-term viability of this company and i think it desire to drive them into the arms of honda. i think honda was reluctant and perhaps foxconn with its interest in entering the auto ind

we know qualcomm looked at trying to buy the company in the past. intel has subsidiaries that may be right for spinoffs, including all terra. first and foremost the board has to find a new cea for the company. caroline: and they are paying a lot to the exit ceo. peter: gelsinger is collecting his pay package on the way out. he departed last weekend. he was not going to stick around to train the new ceo. the board took a dramatic step. they pushed out someone who had been well respected when he came into the company, he was expected to be the savior. now they need to find someone else who will take the helm so they can set a strategy going forward, whether it will be deals or doubling down on this idea intel can go back to its roots or establish the industry leading manufacturing it used to have. caroline: thanks a much for the latest on intel. coming up, at&t seen sustained profit growth for the next three years. we will talk with the ceo john stankey. this is "bloomberg technology." ♪ caroline: at&t trading higher as they see sustained profit growt

nvidia and amd are lore, qualcomm higher -- lower, and intel also higher.ed picture for those, the chipmakers. let's get a look also at the vix, the so-called fear gauge. it's been up in the final trading days of the year, adding to the volatility. plus the volume is light which also can add to the volatility. the vix up 4, merely 5% -- nearly 5%. >>> coming up, incoming border czar tom homan is putting a pice tag on trump's mass deportation plans. >> it's going on the expensive mt. beginning, but in the long run it's going to save billions of dollars of taxpayers' money, $86 billion is a start. we need at least that to do this operation. finish. ashley: well, we're going to dig into what $86 billion could let donald trump accomplish. >>> a new survey, meantime, shows small businesses are feeling more optimistic heading into 2025. it could be the trump effect, but consumer confidence has also been dipping, so how do we fix that? if i'm going to the ask john catsimatidis, and he's here next. ♪ if. ♪ christmas time is here, by golly. ♪ disapproval would be fo

won is going to be good for qualcomm, not so much for arm.ost 29%. we agreed to exclusively negotiate with hyatt hotels exploring possible strategic alternatives which could include a possible acquisition. this is a hotel change that has -- hotel chain with resorts in mexico, the bahamas and dominican republic. alix: we should go. and you are in the market, you might be able to afford to take the rest of the year off and go to one of those. >> we need to figure it out. we need boots on the ground reporting. [laughter] vonnie: to look at this market, you might've thought that it was all a great story today but there were some decliners, as we were just saying, bitcoin was lower and bitcoin related companies were also lowered. 200 plus stocks were done in the s&p 500. >> speaking of bitcoinm microstrategy was a, downey .5 for -- down 8.5%. in announced that it had purchased an additional $561 million worth of bitcoin and an average price near last week's record high. this move is related to the fact that bitcoin has seen a big decline down from

i'm looking at arm is somewhere in delaware arm takes on qualcomm. chipmakers going head-to-head in an ip battle. ian king, the chip master is here. let's just focus on the video. -- on nvidia. is there any fundamental reason we are getting to a technical correction? ian: thing you have seen any reporting on. remember they said we are sold out. their earnings are a product of how much they can get from their suppliers. nothing fundamentally that would give anybody any pause but a huge amount of money has been brought into that stock. caroline: it is up more than 100%. we then flipped to may be a one a b nvidia. broadcom signaled the market for its designs within data centers and the crowd went wild. can you focus on broadcom and profit taking on the date. what did they have to do to make this a reality? ian: they have to work really hard. what they gave was not a sales target. the 90 billion he was talking about was an addressable market for his type of chips and that is why 2027. he was saying we have line of sight to a huge increase in what we do b

we talk about nvidia but a lot of them have not, qualm commis qualcomm and some other names that have not performed. if you want to watch something closely in the year it is how semiconductors go forward. >> talking about passive investing. think about what is a catalyst, crypto. we had bitcoin, etfs maybe we will have more approvals for crypto. that is a huge chunk of this passive investing is the cryptospace. you could see. guy and my lifetime we had rare earth, we had crypto, right, we had a.i., now we are looking at quantum. so, we have quantum computing, is that way off in the horizon? possibly so. but there is a lot of these other things that could be the catalyst for a lot more push into different areas of semi. when you think about intel it has been terrible on a.i. will it be that terrible on quantum? that is possibly where they could shine a little bit where they can get a little more attention. so, i am looking forward to intel being something better. the bar is low. >> something better in 2025. you do have a lot of catalyst after the market. the market needs. we have been

for example in the chip area nvidia is the clear winner it's a question of what amd does like qualcommn the middle of this to bulk up or go after another part of the market you will see google, microsoft, amazon, betta and video the mag seven and apple be able to invest a lot of the x-uppercase-letter into whatever the next new technology whether quantum or something else. you can actually see in opening up in these markets which will make it a lot more exciting and we have 6 trillion or $7 trillion of capital city to mutual funds and we have 54 trillion sitting in cash on hand within households. that's a lot of money in dry powder sitting on the sidelines. cheryl: the mag seven the story of the year seems to be the story of the new year with add-ons and a.i. let's look at futures pulling back we have two trading days left for the month of december the fourth quarter and obviously for the year, we had double-digit gains for the year and it was really the nasdaq the power the year to the boy about a.i. and technology up over 31% let's take a look at the ten year treasury this of course

to have a meaningful play there and he has to figure out a way to force the fabulous designers, qualcommses, they need to be interdugging foundry there is always going to be question marks that if it is part of intel, is it trusted and that is why we go no matter how high they raise the prices >> daniel, in 2025, now we're ping ponging back and forth between chips and software what re the real markets of progress that you expect to see in a.i we're starting to see some of them customer wins, some government usage but how are separating those who make claims to have advantage and those companies that actually do. >> yeah, i felt really strong about this for a while, jon. there have been a couple of tears. first it was the chip and then infrastructure and we've seen amy hood at microsoft talk about $10 billion against the 60 to $80 billion of capex being spent. this is not that incremental we moved you into the next product at a certain price of subscription and it happens to have a.i. features people want to know is it increasing retention and of course is it incrementally adding dollars t

brand new chip that is homegrown, made by apple, that's going to be their wi-fi chip so you've got qualcomm the big competitor in that area down just slightly, but okay, go on. so what about these ones that keep hitting record highs? you'll tell investors stay away from those? >> no i think they will continue to do well as you move through next year. the exciting thing, liz, is everybody else is showing up to the party for the first time. we can argue sort of on the margin there's fuzziness about how far does wage growth fall? how much does inflation cool? how much does the fed do over the next couple of years? but we don't want to lose sight of the big picture which from where i'm sitting is the wage growth will keep cool and inflation will, and rates move lower. and in that environment, its gotten easier to make money. you're seeing earnings broadening out across the index. its already started to happen. it's expected to happen next year too. we're fishing in a really big pond so when i think about equity allocations it's not style boxes it's security selection. it's an active managers pa

broadcom tried to buy qualcomm. the trump administration, the ftc or doj they blocked that deal. >> i agree with you on big tech. i think a handbag deal might go through hypothetically. >> you might be buying in bulk. >> the ftc is -- but if you -- i mean, to your point, though, in terms of google being an underperformer, are we seeing this realignment of assets where you're going from what had been the performers like let's say a microsoft which hasn't been performing very well, the last high was fwh august, sometime over the summer into a google now. at the end of the year even within the mag seven you are seeing the recognition there are the underperformers within mega cap tech that we want to be in. >> i think that's fair. mega cap tech broadly they keep putting up the earnings and they're taking turns. there's one that shines more brightly than the other at any point in time but the value trade is not working because it is not putting up the earnings growth. the relative valuations are staying elevated for the

qualcomm, micron, names that we talk about all the time. really have traded poorly. amd thrown in the mix. so, in some ways it's been a rotation out of semis. and the other is, apple's in 400 etf, of which it's one of the top 15 holdings. as money flow goes, apple wins regardless of what they're saying. it's just a money flow thing, as well. so, i get it. it's getting more expensive, not cheaper. >> so, we used to talk about the cash, we used to talk about their buy-back, their dividend. they're like rounding errors right now. it's like 4% of the market cap net of their debt. it's like minuscule, right? and then their buy-backs. remember that day earlier this year, they announced a $110 million buy-back and the stock rallied? think about that. it has no impact anymore so, you look at the stock right there you that whole part, when they announced that buy-back, until five years ago, that was a real will important part of the story. you started off saying defense -- well, here's the problem, 50% of sales com from iphone. they're not growing. the services thing, the a.i

so cpu's out, and nvidia and all of a sudden the news yesterday with the qualcomm, this will low chipbout this. i mean, i know it's going to take some time but it feels like this is happening faster than we thought just like the gpu thing happened a lot faster than people thought. >> charles you're spot-on here. thanks for having me. so basically the important thing to highlight here is that for each step you need the prior generation of technology in order to advance it. so, right now -- charles: it builds on top of that? >> exactly so right now what's happening in quantum computing is this technology was hitting bottlenecks because there were a lot of errors generated and basically the problem is that if you run any sort of problem and you can't figure out if it's wrong or not it's basically useless information. so, you would need to wait like forever for you to be able to figure out if your model is working or not or if the answer is correct or not, so right now, what's happening is because we have this advancement with gpu's and accelerators we can use those to removal of the erro

qualcomm snapdragon chips adapted from smartphones.those are all more designed thinking power but still needed. we used to get the job for gaming video editing and multitasking step up to an intel i 7 or amd ryzen 7 processor. >> and look for a laptop with a dedicated graphics card. i because when you're getting your renderings about more >> and you're prosecuting, do it, do it a much slower and lower resolution over a. >> for specific models go likes the acer. swift go and lenovo legion 5 for about $1000 for $500. he likes the dell inspiron 15. it's good for just they processing. you want your kid laptop. >> we'll play some really light games. the site. >> for more information and links to everything i mentioned. just go to my website, rich on tech dot tv. i'm rich demuro. that's rich on tech. >> it's 10 21. and coming up after the break, a gas leak in the east bay forces people to evacuate. we'll show you what happened. >> it's 10 24 and today jury deliberations are continuing in the murder trial of nima khomeini who faces charges in

land research, qualcomm, amd very split tech sectors.is among the weakest groups. >> especially relative to software this is a bit of a reckoning it's time to sort of or shut up. let's see what a.i. really means to your business and to your return on investment and whether you are a real player or somewhat of a pretender that got a halo. >> i think it's the one sector you have seen the market make this differentiation look at adobe the last week, mangodb. broadband. frankly, some of the asian semis might be reasserting themselves. taiwan semi as an example. tech speaks to a sector that's very, very split is that a foreshadowing of the broader market after two broad years? >> i am thinking this must be a difficult time to be a technician because no matter -- i'm talking the end of the year, because no matter what today says, tomorrow when you turn the calendar into a new year, because of tax-related selling that could take place, it's hard to try to gauge where we could go in the next month. >> it's why why we spend time trying to evaluat

qualcomm had been alleging it was violating its terms of agreement.ying it is well within the right to do so. back to you. scarlett: we will check in with her a little bit later on. honda and nissan taking their first steps for a merger. a holding company would be created to house the new entity. this would create one of the world's biggest carmakers and compete with toyota, also chinese ev automakers. that is the big one. annmarie: that is what is driving this and why we could see more consolidation. this is going to create the world's third biggest automaker. told manus last week that there was reporting that there would be a tie out. carlos ghosn said he did not see the synergies between the companies. said the brands are too similar. for nissan, it is desperate for long-term vision and potentially it will be good. scarlett: the trade ministry of japan proposed this five years ago and nothing came to pass. with nissan under further financial pressure it becomes a necessary step to take. elon musk, writing on x that the fed department is absurdly ov

shop qualcomm today. >> this holiday season, find the perfect gift at cnn underscored from the latestashion to expert approved tech to the best beauty finds. >> discover it all at underscore. com closed captioning is brought to you by sokolov law. >> mesothelioma victims call now $30 million in trust. money has been set aside. you may be entitled to a portion of that money. >> call one 800 859 2400. that's one 800 859 2400. >> it's one of the most legendary matchups in american college sports. tomorrow's 125th army-navy game, held just outside the nation's capital. there's, of course, the joy of trash talk and bragging rights, and the pride of hoisting up that shiny commander in chief trophy. but what you also see on the field is a shared culture of hard work, sacrifice and grit. while navy and army face off on saturday, in the future they'll be working together to defend the united states. that bond underlines every part of the game. navy coach brian newberry has said, what you're seeing with us and army is a reflection of developmental programs with players that are selfless, play f

new this year, qualcomm snapdragon chips adapted from smartphones.her power issue still needed. we used to get the dog for gaming video editing and multitasking step up to an intel i 7 or amd ryzen 7 processor. >>and look for a laptop with a dedicated graphics card. because when you're getting your renderings about more, if you're prosecuting, do it, do a much slower and lower resolution over a. >>for specific models go likes the acer swift. go. >>and lenovo legion 5 for about $1000 for $500. he likes the dell inspiron 15. it's good for just they processing. you want your kid laptop. we'll play some really light games >>for more information and links to everything i mentioned, just go to my website, rich on tech dot tv. i'm rich demuro. that's richaun tack. >>dick van dyke is one of the many celebrities forced to flee their malibu homes because of the wildfire. the legendary actor just celebrating his 99th birthday. plus, jim carrey reveals why he came out of retirement for his latest project. evan has the details in the entertainment report. >>legen

even for arm holdings, which is in this battle with qualcomm >> the trial continues >> i just felt badcause i remember this time last year, he kind of lectured me, so nice, he called me, like 4:00 in the morning. and it was jim, you're too bullish with the memory. i wasn't high band width memory turned out to be great. what i wasn't bearish enough was cell phones and pcs. >> hard to predict the cycle of innovation in some of those tools. in terms of guidance lower, jim, micron today, lennar, conagra, lamb weston. there's a few. >> lamb weston, we have to talk about. they put out a release, one of the meanest releases i have ever seen about the change in management lennar was difficult we have stewart miller, the executive chairman, saying listen, rates went up. what do you think happens? we don't make as much money. that was terrific. and i'm against this, i'm going to say that darden was good. darden, big restaurant chain, setting the restaurants up not everything was bad last night. >> paycheck, affirm. >> that's a positive i'm going to call it mixed, not all bad. mixed. but very vis

champion i think there are bankers crawling all over this thing we know that qualcomm at least had some interest. i can certainly make an argument if there was an opportunity to buy the chip design, broadcomwould without be interested and then the question is what do you do with the fabs i guess the idea is, will intel be intel a year from now >> the balance sheet says no that it can't be i do know that president-elect trump could use that as an example of why we shouldn't have government choosing favorites. i didn't like that i told the secretary over and over again this balance sheet is no good. >> we need to make chips in the united states. we cannot rely on an island nation >> no, we cannot, but gelsinger was -- he believed in alchemy. >> jim, we'll watch bonds as well today obviously got some macro prints, as the ten-year hovered right around 4.5 this morning. we'll see where we are the election day gap, though, on the s&p has been filled. we're at 5840. and we opened the morning after the election about 20 points higher than we are right now stay with us is a bitcoin etf the same

it raises the question on the likes of apple or other companies, qualcomm, that have been interlacedral. it becomes a big question as we talk about decoupling when the two biggest economies in the world are intricately connected. jonathan: there is one homebase that is better than others, the net is states of america. if you have to retrieved to america, that's a good thing. if you have to retreat to europe, very different proposition. lisa: it raises the question about gm. shares of 50% this year at the same time you have volkswagen and stellantis being hammered. they are facing a 1-2 whammy. in china they have a competitive disadvantage. in their home market they don't necessarily have the ability to sell as much as they are producing. jonathan: under surveillance this morning the latest on retail. footlocker cutting its full-year sales and profit forecast siding discounts and a pullback in consumer spending. dollar tree reports better-than-expected earnings. announcing the departure of cfo geoff davis. the stock is up 3%. back to footlocker, and the premarket, is getting hammered.

i think it was qualcomm they were talking about, right? >> yeah. >> i don't know.e no matter who gets this job. i think he did the best he could. i think he had the right ideas about trying to pivot and going back to building factories but, it's a slow burn. the market isn't going to put up with that. it's clearly the shareholders who are upset after losing 60%, as you said. more than half just this year alone. >> i mean, it's not going to be known as the solindra of semiconductor world. but it does seem like another example of where the government just probably should stay out of things like -- i mean, there are basic research that the government can fund in the private sector, obviously. but when it starts picking winners and losers and industrial policy, is this going to be another example of the government just should not be picking winners and losers >> it hasn't had very good track record so far, so i think you're right about that and i think in this case, they must be really upset because, you know, i think they really relied on intel to get the job done and

so nvidia, qualcomm, broadcom, you name it. that is very significant leadership versus intel.they have lost technology leadership. that is where the problem lies is trying to rebuild the leadership. it will take time. what the leaders is what they need at the top. lisa: initially was the reaction the stocks went higher with the retirement announced. we see the decline continued today. i wonder if this goes beyond just one person in a leadership role, whether intel can be turned around in its current form. vijay: i think the stock definitely went up and some recognition there are significant challenges ahead. a lot of brain in this company. there is still a lot of technology, ip, parts in this business from massive markets. pcu, ai, they can do a lot and bring in the right person to turn this around. i think obviously it is linked to how they perform on the pc side and what is driving the customer to them. lisa: how much does intel need to sell parts of itself or spend parts of itself to focus on one thing doing well, either designing chips or making them or focusing on some of