at wedbush saying tech is facing huge challenge including rising yields, head winds and tough comps.ncluding those chips. raising prices the demand is there. facing the taiwan semi back to you. >> you hadn't named the list of troubles for tech. specifically some of those at home names pfizer going to ask the fda for approval for kids under 11 making things more viable for people to go to work >> talking to joe at wedbush today. that is certainly something joel has hammered on as a theme moderating that pandemic watch video game published has been tough going for names like activism, ea game delays have been a concern. some of those don't want to own something that could be in less demand as the pandemic ends and we return to some type of new normal >> interesting looking at these social media names facebook down, snap off 7% what is your sense of what is is driving those down so much more than even the nasdaq >> some are going to argue there are broad trends at work hot money moved into a lot of these names. broadly speaking or not. those names have gotten pricey in the rotation, peo

. >> joel, appreciate that very much great to see you good stuff joel kulina from wedbush. >>> one techck to watch today uber rising up after announcing revised financial outlook for the third quarter that forecasts a possible even a profit of 25 million dollars for the quarter. this was on "squawk box". >> we're in a mobility business expanding in all forms of mobility on a global basis with very strong margins and now we're proving each profitability the core business is going to hit profitability possibly in q3 and at the same time, we're gaining share based off third party data we're the fastest growing delivery platform in the u.s. right now that's a great combination >> they may be gaining share, but really interesting also to hear his comments about how prices are going up. yes, that does flow through to the driver, but you got to wonder how those higher prices impact demand when people may opt to get somewhere a different way, take the bus, drive themselves >> yeah, he did say that pricing would ease somewhat in the second half and last week's volume was pretty good as we look f

investment firm wedbush securities estimates that around 250 million iphone users have not upgraded theirin 3.5 years. joining me now is russ frushtick, co—founder of polygon. i'm sure you've been looking in detail with what apple wants, we always demand you innovation and this time everyone seems very underwhelmed?- and this time everyone seems very underwhelmed? yeah, apple kind of goes _ very underwhelmed? yeah, apple kind of goes in — very underwhelmed? yeah, apple kind of goes in these _ very underwhelmed? yeah, apple kind of goes in these waves - very underwhelmed? yeah, apple kind of goes in these waves and l kind of goes in these waves and this is feels less ambitious, a safer attempt from apple. i think normally we expect these big, splashy new features but here we are getting standard things from apple, a slightly better camera, a better screen, the notch at the top of the screen is smaller but broadly speaking, iam not screen is smaller but broadly speaking, i am not a screen is smaller but broadly speaking, iam nota huge —— nota speaking, iam nota huge —— not a huge overhaul a

. >>> let's get more on this we'll bring in michael prachter of wedbush. >> you have the quote, probably, of the day, and that is the purchase of nightschool studios is analogous to one of the broadcast networks buying the badminton channel. so you don't think it's a big deal or you're a huge off and on of badminton which is it? >> i'm a fan of badminton. pete said it well. reed hastings made a comment probably two years ago his biggest competitor was fortnite, and he's right if we roll back, we watched five hours of tv a day, and nobody to the about it now we're watching two hours a day and playing games three. i think reed hastings is addressing the video shift, and i think getting into this business is a really, really smart move i'm totally skeptical they will succeed, but i was skeptical when they succeedwood their original content it took them ten years, but they're actually pretty good at it i think pete is right, this is an area they'll have to be in. i had to look up night school studios. i know you know this, but i know everything about video games if i haven't heard about them

wedbush's michael pachter suggests that buying the dip saying gaming is not just for the young.verage age of the gamer 35 to 44 according to the trade group for the gaming companies jon, you got some puts in bilibili and nedi today. kindly explain. >> not necessarily today, frank. but yes i do have them still they were going into labor day, frank, these stocks netty's and bilibili were $90 stocks they've been hit hard. you talked about the percentage drops. they were buying the 70 and 75 puts in bilibili and they were also buying in neddys, more at the money puts some purchased way out in january. we talked earlier in the show about the circular firing squad the ccp is running against publicly traded companies. they are getting these guys to march to their tune, frank i would avoid those. you just said it ea, take two interactive, active vision, safer plays than those that are being, like i say, shot by the ccp >> you know people gaming into 60s and 70s a big horizon for the stocks >>> the committee is ready to answer questions to reach us send an email to askhalftime@cnbc.com a

goldman this morning initiated buys on google facebook, amazon and wedbush has apple as its top pick.e have gary kaltbaum and shana sissell. gary, you're a huge basketball fan. it is safe to say this kind of market fits right into your wheelhouse. these internals are rough. do you ignore them to stay with the megacap winners? >> i don't ignore the internals but i certainly stay away from areas that are bearish and there is a ton of them. i've been highlighting them for a month now how many. the good news is, whatever is working, how narrow it is, is in the growth wheelhouse and some bigger names. so so far so good but i must tell you narrow markets are not good news. broad-based markets are better. narrow markets are easy to sell off if the market decides to so something to watch very, very closely. the dow is now trading below the 50-day. the transports have been dead money. the small caps, nothing great. you just mentioned some names. the big five are 22% of the s&p 500 and 42% of the nasdaq 100. major influence on them and if the market ever loses them, then you're going to see ind

. >> has anyone talked micron, because it wasn't the report, it was the guidance >> wedbush have this >> accounting a more modest demand get >> i'm in the latter camp. he didn't guide. >> it means there's no glut. it's glut or famine. >> we don't have that. keeping d-rams, and think allos. >> we did spend a little bit of time on it, but i agree. >> twice the number of batteries of mr. tesla, and cathie woods sold a huge amount of tesla. i don't think this is easy sledding i would rather back farley over musket. >> really? >> yes. >> we'll go to carl, and get back to some of the mortgage specific stuff on the markets, but musk had a lot of things to say. i want to send it over to you with that. >> yeah, david, really expanse tariff discussion yesterday between elon musk and cara swisher. they talked a bit about crypto-regulation, where that's headed, very long talk about the economics of space and rocketry, but neffably, it comes back to the topics of his wealth, talked about the onning that are vesting. more jokes about the s.e.c., or as he calls it, short seller enrichment system. ta

daily billing down even harder, almost 14%, wedbush says it shouldn't have -- they have limited exposuregaming has kind of fallen out of favor, because the gaming market is forecast to grow by -- as gamers, they grow a bit older, and eastern more disposable income. the average age of a gamer, 35 to 44. certainly not child's play. >> gaming is a slightly misleading word here but both those sectors getting hit hard. >> sure. what it's don't is at least in creating the discounts, in -- that's interesting, from a u.s. investor's perspective they had used to pretty consistent by -- they're actually now at discounts. there's other noise around there. electronics arts is delaying the roll-out some highly anticipated games, because they have shortages of staffing basically it's a development issue, a workflow issue. that's quite interesting when it comes to the chinese domicile gaming companies as well as the casinos, clearly some have did i it's not investable it's somewhere in the wreckage, it probably makes sense to hunt around. >>> bank of america pulling the plug, downloading lordstown and