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tv   Tech Check  CNBC  November 15, 2021 11:00am-12:01pm EST

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actions cutting off their access from key inputs to the united states we're seeing it so i think it's something that was driven one way. >> all right i know it's perhaps a longer answer we'll get you back soon, as well, to discuss it again. ben, thank you ben harper that will do it for us on "squawk on the street. "techcheck" starts now > good monday morning. welcome to "techcheck. i'm carl quintanilla today musks taunts bernie sanders named motor trend car of the year we'll break what ev stocks stand to benefit most from the signing of the infrastructure bill cramer is with us. live in san francisco to tell us
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why and one wall street firm downgrading shopify after a 1,000% run over the last three year we have the analysts behind the call and we'll join us in just a bit, d. >> my huge smile on my face because we're starting right here at one market jim cramer the legend joining us i'm thrilled this is like a real moment because you have been coming here for years >> kind of take my breath away to work with you i watch what you have done and what carl has done and john has done and this is the dream show that i always wanted your work here is quite frankly amazing. i talk about it all the time with my crew and i'm thrilled to work with you. >> few people know this, but you were coming out here before we even had this bureau at one market that's why you have stayed on top of all the trends you talked about this morning it is a pleasure we'll get down to business >> let's go to work. >> let's start out with evs. lots of thoughts on these. president biden is poised to
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pass the $1,000 infrastructure plan who are the winners, jim >> rivian because they have amazon's backing a lot of people saying, jim, why isn't it up more and the answer is quite simple it's one of the reason i moved from 15 to 19. but i'm seeing lucid and i've got to tell you. >> you're talking to the ceo this week. >> yes, i'm going out there. peter rolinson literally threw me and i fell back -- >> you were wearing a seatbelt, right? >> it didn't matter. when you go 0 to 80, you're talking about going to the stratosphere he has the ultimate luxury ev. you don't think of that when you think evs. his vehicle reminds me of the top of the line bmw mercedes that's very exciting because i think you need some diffrenshiator and it is that he has the luxury ev. >> so where does that sit?
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tesla was thought of to have the luxury ev but now moved more into the main stream >> exactly >> you've also been pretty bullish on some of the traditional ones ford, i know you love. >> ford, look, because of the f-150 lightning. now, ford does have problems in getting product. i ordered a maverick, which is their mini truck in march. well, i'm going to get it in march. >> one year later. >> but that's the chips and trying to get it so it has epa regulation so say 40 miles plus. deidre, this is a remarkable time because you either are in evs which to me means that you're in tech or you're in internal combustion engine >> this is my question then. a lot of what we talk about here are these tech companies and tesla very much thought of across the board as a tech company and not just an automaker. where does that leave the legacy guys, especially you bring up the chip shortage and tesla engineers to rewrite their chips
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and avoid some of the most painful parts of the chip shortage but the other automakers, do they have their eye on it? are they able to keep up >> no, i'll tell you what. you take, i think they have a lot of things going for them but you have to accept the fact that they're bigger and steel from ice. if you look at ford what they need to do is sell that rivian and build gigantic mega battery factors because they're short batteries. they can't make all that they need you never hear of musk being short anything that's because he's also an amazing supply chain guy as well as someone who is willing to poke fun to an elderly senator you would never do that. you are a person of great respect. and i think we can sit here and we can say what a genius he is or say, you know what, shut up there's only 100 of them >> you don't get one without the other. this is elon musk. he's a marketing genius. >> so true >> you take him at all of his strengths and faults >> yeah, it's all -- you get it
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all in one piece >> make fun of jeff bezos, too >> look, he does whatever he wants and in the end i tire which has why i have been a big backer i sent him the other day a note about how i felt about musk and he said i want to beat him beat him is like tying him you want it crush him, crush musk look, if you're going to shoot the king, you have to kill the king what i don't want to see is that musk get so far away from gm and ford that they employ hundreds of thousands people around the globe. >> do you think he can kill musk or just sort of -- >> he's a competitive guy. he will kill him in the truck. absolutely >> you don't think the cybertruck -- >> the f-150 is going -- the lightning f-150 will be a joy. it will be joyous.
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no, i mean, i have an f-350, but i do think what is exciting about what farley wants to do is be the first guy who crushes him and that was the mustang he would tell you, look, that was the car. how about lucid getting the ev car of the year without even having a car >> that's right, this morning. >> what do aiothink of that? >> i haven't driven one, but a luxury >> such an exciting time out here >> there's still some skepticism they have to manufacturer and with rivian, as well i mean, the way the markets are now and we'll turn to chips in a second but you're paying so much money for 1 in 1,000 shot these days versus the 1 in 100 this is what everyone is talking about. the valuations >> they have money and we have customers. think about it i met with the amazon sustainability officer about a month ago.
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100,000 rivian they'll pay every rivian rivian doesn't have to come up with a product look at amazon they need every truck in the world and really stringent carbon requirements. i have chevron on tonight and chevron is even trying to be carbon neutral, they can't be carbon neutral because that's absurd when i talk with companies out here the first thing out of their mouths is, did you see our sustainability report? now, deidre, are there any sustainability reports without mentioning phony or do you think they all really have a plan? >> maybe pie in the sky plan >> tell me >> they are, all the intentions are there. i think they're making really important progress, let's say. you have to approach it with a little skepticism, as well >> who is holding their feet to the fire who is saying, wait a second, that is a ridiculous that airline does not have, is not carbon neutral they're polluters. who is saying enough
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>> who should it be? >> i think the sec should be looking at every one of these claims they should be hiring people who understand, look, they should be hiring auditors and accountants who literally do this kind of check in as far as i'm concerned, everyone claims 2050 >> we have john fortt back at hq. >> great to have you back out there. we have the set built out and deidre there i know we want to talk chips you were selling 100 shares of amd and i suspect that's not because you don't like amd because you know as well as anybody. lisa sue has been kicking a lot of butt these days what's behind the move >> it got too big. a lot of what we do, john, great to see you portfolio management when you have a stock that literally has gone up 60 straight points it becomes too big for your portfolio. yes, i think lisa sue is amazing and amd is terrific.
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the discipline that we're trying to teach within the club is that you can't let everything ride. there is no sense bulls make money, bears make money and get slaughtered of just pretending that you can just ride forever amds gotten the greatest success story other than nvidia and another one we have gotten too much of. we're trying to be prudent and amd which, you know, had some great products out last week >> oh, yeah, for sure. such an interesting moment i wonder your take you have intel, amd and qualcomm all sort of around this $200 billion market cap which, you know, historically the idea that these guys would be around intel and nvidia would be at 750 kind of crazy. i think a lot of the street is so down on intel when the desktop product came out and the performance was better than a lot of people expected
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they have mobile coming out, a lot of people watching the power performance there and also the graphic chips in q1. i mean, might they surprise some people since we're talking about valuation. that one is certainly not, rich. >> it's funny you say that i went over that conference call and what he's saying is, look, it is a bit of a reset had he not dropped the ball on gross margins and said, look, it will be a while. what we will be talking about is the new product and talking about foundries and the vision that he has. the vision can't be done overnight and i think initially he felt it was but, john, you're on to something which is if you want a stock that is inexpensive, it's intel. and there's nothing the matter with owning something inex inexpensive that could have a good 2022 or 2023 if you're patient. i think at this point, what's the point of selling t intel, john? why bother to sell it. >> jim, also sort of reminds me
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and we had this discussion a couple times what is going on in memory right now some excess supply, some declines in pricing. it would be interesting if that migrated to other parts of the sector >> but how about this micron move up ten straight points without anyone saying anything we have an upgrade today for a more high end. i'm beginning to see the commodities actually go up c gate which is not semi, but disk, doing well western digital starting to come back let me ask you about this. when i see moves like micron, how did that happen? how did it go up ten do they relate stock or just talk business? >> you talk, you hear a lot about so much money and, by the way, a lot in the private markets, right so, out here people are very focused on the next generation and a lot of it is software and chips that are going to have the next leg of the technological
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fourth industrial revolution but there is sort of this desire to talk about the next up and coming companies versus the public ones. i think they see these moves and you see the exact same thing happening in private markets so much money and feels like it goes up and up forever and more unicorns >> holier than thou aspecthere all these people own a lot of stock but when they ask you about the stock, are you kidding me are you going to commercialize what we do but, deidre, there's billions of dollars being created out here and you know they have to be one eye on the stock market, correct? >> of course it also affects what is happening in private markets if they don't happen totally separately >> john, you can tell me on this, but intel down and all those insider buyers, do they buy because they want to show or the fact is when you have that much insider buying, don't they know something >> they believe in their plan, but, jim, i have never seen a plan this ambitious in chips and going to do so many things they
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say that have never been done before but, hey, you know pat, if anybody knows the playbook, he does is it possible i don't know you talk to him and i'm sure you'll tell the cnbc audience what you think >> which we can't wait for, by the way. you always have such a stellar lineup you have lucid >> we have some good people. >> it will be great. >> you go over what he said on the last conference call what he was saying, look, if you wanted to go into bankings, you went east. now you go west. on that, see, i got out of school i went to a good school and i wanted to be finance, well finance is new york. no no the finance is out here. they did it. >> increasingly so you remember square. took a long time for investors to believe in that story you know the folks over there very well. >> i'll see them later this week >> we're getting into fintech,
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we could talk all morning. you're going to come back later this week. >> i'm never going the fact is i have to go my guys wanted to move to sonoma very badly instead now she goes down to del ray. when you get to be my age, you don't want to have the winter any more what can i say. >> we'll talk to you again soon. >> hard to come back east for sure i can testify to that. tom lee will join us with his top picks in tech. stock is up 750% in the last two years more than tripled over the last 12 months. "techcheck" just getting started.
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morgan stanley initiates underweight today. after years of rapid growth, we see growing signs of increased competitive and pricing pressure and also adding the risk reward is not worth it for a stock that trades at 26 times 2023 sales. price target there $247. you see shares down almost 12%, john >> a lot of valuation concerns
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in this market right now you have to look for growth. speaking of small, medium businesses presenting a massive opportunity for players in the tech space and the payment space. which makes software that enables small and medium business to do their back office functions. up 750% over the last couple years. currently no analyst has a sell on the stock joining us now founder and ceo renee. great to see you welcome to "techcheck. 78% growth year over year you reported earlier talk about your priorities here and addressing this smb market which i see just being so active in this cloud era. >> well, thank you, john thanks for having me always great to see you and connect. you know, the smb space is just a massive opportunity. we have around 126,000 businesses across our core platform 6 million businesses in the u.s. that have employees and when you look at the scale of the businesses we've brought
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together, we now have 350,000 businesses we serve across all the platform we're just getting started so, the results that we're seeing today, the 78% that you mentioned, it's all because of the work we've been doing for years. the work to build a platform that is purpose built for smb to automate their financial operations the work that we've done on ecosystem so we can reach whoever they trust whether it's their bank, accountant or us directly these things take time and the investment that we had to date has been really to continue to make those things for smbs we're passionate and we're relentless on helping them >> i thought it was interesting, strange to be honest when, you know, paypal was looking at pinterest because so much to do in the small and medium business space. but talk about divvy and, you know, we talk about cryptoes and consumers when we talk about fintech. not enough about smb
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what is divvy strategically for you? what does it allow you to do having this payment card and perhaps incentives that you can build into it. >> that's a great question so, you know, all of the opera operations are in the paperwork and that paper is just kind of a pain for businesses to deal with so, one of the things that divvy does is it really enables card spend to be automated and be digatized with an elegant software solution. you can be using your phone, if you're the manager or owner of the business you can use your phone to enable cards, realtime card decisions across your entire employee base so, if you have employees that are out visiting a customer and they need to do something for that customer, they have the ability to just say, hey, boss, i need more money on the card and that can happen realtime if you have employees that are encouraging spend on ad spend across all the internet platforms out there and have something that is going well, they could, again, increase that realtime so that now the paper that was
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going on back and forth on these types of decisions, that's just gone all software and it's all enabled so you can do it with your fingertips. >> so, what is different, kind of thesis wise in small business tech and payments this time around you have been in this for a long time you were at intuit in the early days and pay cycle 20 years ago and you have a lot of perspective. ar articulate why in the cloud era you think the growth trajectory and the potential for you to touch multiple arenas is different. >> that's a great question so, all too often technology is viewed as a burden it is for consumers and businesses businesses just haven't had the love that consumers have had we have been putting a lot of time and attention into the user experience so it's not a burden but an opportunity when we saw it with covid, a necessary requirement that you operate remotely
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businesses started thinking harder about it and looking for the opportunity. what they found is with digital platform like, one that automates the processes, they found that they actually get time back. 75% of our customers say they get 2x efficiency. that means you can double your revenue and not add any employees. it's very powerful the opportunity to grow is what everybody is so excited about right now. >> keep an eye on you guys and this whole smb tech space. rene lecerte thank you. >> thank you, john. lyft downgrading shopify why bitcoin remains a favorite we're back in just two
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welcome back to "techcheck." i'm john fortt biggest winners on the nasdaq 100 this morning
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dollar tree leading the way. meta also doing pretty well up more than 2.5% to start the week but, first, a news update with rahel solomon. >> hi, john. here's what's happening at this hour the ceo of splunk is stepping down shares of the software maker plunging 16% following the news. the chairman of the board will take over as ceo on an interim basis. shares of dollar tree jumping 14% to an all-time high. reportedly took a stake in the retailer worth $2 billion. "wall street journal" says pressure dollar tree to increasing stock price oatly seeing its shares fall about 19%. oatly also giving weak sales guidance for the rest of the year thanks in part to slower roll outs in new markets due to the pandemic the supreme court rejecting
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volkswagen's bid over emission tampering. officials in three states are seeking damages in connection with the german automakers diesel emissions scandal volkswagen argued that it reached a settlement with the epa that exceeds other claims. deidre, back to you. >> thank you for that. bitcoin getting the biggest upgrade in years mackenzie always among the kind of die hards bitcoins and ethereums. one of the biggest criticisms in that debate. >> yeah, so, deidre, that is a major part of this software upgrade that introduces a lot of new features to the bitcoin network including better privacy and security for users, plus cheaper transactions, which is something that a lot of investors are excited about. here in downtown austin, which is a huge epicenter of the bitcoin community in the u.s., people were out celebrating the
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upgrade when it went live at midnight on saturday and you saw this festive mood because unlike the 2017 upgrade which is referred to as the last civil war taproot has near universal support. in terms of what is actually changing a big part of the makeover has to do with digital signatures which are like the fingerprint on every single transaction. right now bitcoin's transaction history is very public and what taproot, the name of this upgrade does is it hides the details of some of the more complex transactions, which offers greater privacy to new users. this will make transactions cheaper to process and crucially unlocks the potential for smart contracts which you were saying could be used to eliminate middle men from transactions these are self-executing agreements that live on the block chain and essential in powering the world of nfts and
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decentralized finance or difi. right now ethereum the most used but this bitcoin upgrade gives it more of an advantage and will likely lead to an increase in day-to-day applications for bitcoin. now, not everyone is thrilled about what this upgrade may mean because, you know, extra privacy could be seen as secrecy by the government and some wonder whether this may expose bitcoin to further scrutiny by regulators guys. >> mackenzie, when you talk about what we sort of touched on at the beginning which is the idea of smart contracts and now being perhaps able to catch up with ethereum. do you think bitcoin comes from a losing position? they have already given up in the earlier stages of ethereum or so many people love the idea of bitcoin they have an easier time gaining >> well, as you said, ethereum was a first mover in the smart contract space and that's why
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they're the leader in the world of difi by a mile. but taproot makes contracts cheaper and smaller in terms of the space they take up on the block chain and experts say this enhanced functionality and efficiency presents mindblowing potential. you have the smart contracts that would essentially give you the opportunity to build applications and businesses on the block chain. and, so, a lot of people do believe that bitcoin could become more of a player in the world of difi because of this upgrade. >> fascinateling development today as we keep our eye now on a couple different major coins mackenzie, thanks. dow and s&p in the green today. nasdaq slipping just a bit all the major indexes coming off a losing week breaking that five-week losing streak. joining us this morning tom lee joins us on the phone. tom, we've talked a lot this year about your view that we're going to end up with an
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everything rally going into year end. anything to dissuade you from that notion? >> yeah, we're still competent that an everything rally into year end is the base case. there's the whole argument of economic fundamentals or strengthening. there still is a lot of uninvested capital on the sidelines and we got the seasonal i know there's been a lot of fears about the inflation heating up but, you know, the future's markets are sort of showing that this is calming down and i think, you know, given the supply chain gets glitched, i think it keeps the fed sidelines and that's kind of dovish. i think that's still the base case >> that's interesting you raise the point especially about tech and why at least the nasdaq 100 hasn't really buckled under at least the view of higher inflation or higher rates. why hasn't that happened >> i think it's a couple of things you know, number one when people are allocating into equities,
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especially whether it's global or out of credit or some cash on the sidelines, it's going to come into tech and especially the mega caps. so, i think that's really your sort of first point of entry into equities and valuations just aren't demanding for a lot of tech and we're seeing breakouts like semi conductors breaking out and system software and that means there is still incremental momentum and, as you know, they're not really harmed by supply chain glitches but they have decent inflation hedging built in >> tom, we often talk to you about bitcoin and your year-end target was 100,000 we just heard from mackenzie not moving the price of the crypto currency today i wonder if you think this was already priced in. obviously, huge moves over the last few months or what to you make of it if not this, what is going to push bitcoin higher >> bitcoin's future is really
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based on adoption by more users and worldwide there might be 200 million total users of crypto and bitcoin. you know, $7 billion so, i think it's still got exponential growth ahead but things are just a reminder that bitcoin isn't static in its evolution and even though the supply is fixed, the utility could actually increase. so, i just think this is really sort of setting the stage for more applications to be built around crypto and blockchain and bitcoin is extremely secure. i don't think bitcoin will become the world computer but really the store value and a way for people to securely move things anonymously without trusted counterparties that's the value and i think taproot is helping that. >> just 100k by year end your targets is unchanged. >> yes bitcoin makes most of its moves within ten day in any single
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year i think people tend to make a linear prediction. but if you look at the last couple months that would have been a mistake as people have drawn the line downward. if we have another 5% move in the s&p, i think there is a lot of data in bitcoin that could be another 30% or more and that would easily take us over 100,000. >> tom, we'll check in with you a lot over the next few weeks, obviously, as we get closer to year end thanks, as always. >> thanks. coming up, taxpayers might be footing some of the bill for the digital i.d.s that apple is pushing. the cnbc reporter behind that story joins us next. wee ckn o.'rba itwwant to [ cellphone vibrates ] you'll get proactive alerts for market events before they happen... and insights on every buy and sell decision.
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welcome back we have an update on apple's plan to allow iphones to hold digital government issued id cards. showing taxpayers will be footing part of the bill hugh, this is such an interesting story. i'm curious your take on how much of this is government doing just in a digital version what government normally does and how much of it is unusual and odd? >> hey, john, good to be with you. i think, first of all, acknowledge, you know, the unusual aspect of getting these documents. these are agreements between apple in four states that have agreed that signed on to their
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plan to basically digsitize. so we managed to get some of these and basically what they show is what i think is remarkable the degree to which apple is really in the driver's seat when it comes to calling the shots on these so, the states that have agreed to offer this program have to, you know, commit to a wide-ranging series of measures, including standing up, creating and maintaining and issuing these credentials and putting project managers on this to answer apple inquiries, marketing and promoting the use of these apple ids and, you know, it goes on and on and ultimately, you know, the contracts that we've reviewed are very clear this is all at the state's expense. so, if you were to take a step back and think about this. this is essentially the state's subsidizing the new feature that apple has talked about, you know, boasting about in its
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developer's conference just in june >> interesting or apple subsidizing states transitioning to digital i.d.s which i don't know if they can do that on their own. but if you view this as a government drcontract where thee states are contracting with apple to adopt their system for digital id, i guess you would expect them to pay and have to implement the system in the way that this platform doe dessinginates. >> no doubt the end user will be delighted by the ease of use and verify your identity in a variety of in-person scenarios why should the taxpayer be on the hook for a technology that is going to go to benefit apple, right. its investors and shareholder and less than half of the population who uses the apple
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ios. you know, this doesn't say anything about google or anything or the android or anything like that so i just think it's an interesting approach to this and if you look at other countries, other countries have pursued national digital ids, identification cards but from a platform so it's not necessarily a $250 trillion, you know, $2.5 trillion tech company that is taking advantage of this >> but have they been good have they functioned well i guess is the question? hugh, it's deidre, by the way. in the early days of the pandemic we had this novel partnership between apple and googal and they were going to partner to do covid tracking and this was seen as the best technical solution but so many questions around privacy and how they were going to do it and perhaps hold up with government entities do you think this could go the way of that and just not really get off the ground because of all these concerns >> well, i think if you read the contract, it's really clear and
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apple is super descriptive in what it needs and requiring the states to work with law enforcement, for instance and irs, for instance, to get everybody on the same page i think it's going to be successful and i think the real question is, you know, you bring up the idea of, well, it's got to work, right and i think, you know, this is a real debate about what we're willing to give up in pursuit of efficiency and efficacy versus just really the principles of whether or not the government should be seating the ability to identify to a sole private tech corporation. >> great reporting, hugh certainly raises a lot of questions that we as citizens wrestle with when it comes to digital technology quick programming note as we head to break. tomorrow we will speak with qualcomm ceocristiano.
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that is at 11:30 eastern don't go away.
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time now for a gut check on wework reporting its first reports. revenue up 11% from first carter but down 20% year over year. losses that continue to mount reporting a loss of $4.5 a share. the stock is getting a boost this morning it is trading below that $10 spac price
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$9.45, carl. after the break we'll talk to the creator and brains behind the icelandverse "techcheck" is back in a moment. indeed instant match instantly delivers quality candidates matching your job description. visit
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is this the top for shop what our next guest is sayic downgrading shopify to a hold and the current valuation about as good as it gets
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price target 1,600 with us the analyst behind that call anthony of luke capital anthony, i wonder how much this is an overall market valuation call versus a shopify call specifically because, i mean, $200 billion market cap shopify is a little bigger than a tenth of an amazon given how well they're competing that makes maybe some sense to me so, would you have to take amazon down to >> this is not a market call this is definitely a very shopify specific call. we upgraded the stock when it was less than $1,100 about six months ago it is now above our price target, which is $1,600. actually increased that price target a couple times and trading at 34 times our 2022 revenue estimates. so, while we really like the fundamental story here, we just feel that it's reflected in the stock price and we just thought
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it made sense to go to the sidelines here >> so does that mean that you think that amazon can grow faster than shopify or just that overall there's some different dynamic here i don't understand? >> o, i don't think this is a shopify versus an amazon type o dynamic here shopify will grow faster than amazon and that is off a smaller revenue base that is to be expected i think there's too much made in the media about a sort of shopify versus an amazon type dynamic. if you recall shopify merchants can sell on amazon marketplace and a lot of them do so, i don't necessarily think this is a shopify versus amazon type of call i mean, we do like amazon. we do have a buy rating. but, you know, has very little to do with shopify >> anthony, one of the upside risks to your call that you identified in the report is any
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major new partnerships i'm wondering, do you think that there is anyone else out there that could really move the needle for the price it feels like every week we're talking about a new one whether that be with affirm of the world >> yeah, there's no one necessarily that comes to mind, but they could certainly get better and they're in the very early innings in terms of those partnership partnerships that you mentioned. >> i get they aren't direct competitors, but shopify is empowering that third party retailer to have more control over the experience and perhaps need amazon less sure, they might list on amazon, but also on google, facebook
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have their own website, et cetera so to some degree, is there a call on shopify's model and how successful you expect it to be versus a more entrenched, dominant player in the market? >> once again, i just don't really think about things in those terms. everything you're saying is true and certainly shopify reduces vendors reliance on amazon because they could easily integrate with social media, set up their own website, sell or buy ads. look, amazon's got their toes in a lot of different areas, right? awi has nothing to do with shopify, quite frankly so i just don't think of it as a zero sum game. i think both companies can be very, very successful. like i said, i mean, i still think there's a lot of upside in
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amazon and amazon has certainly underperformed year-to-date. >> bold call love it. thank you for being with us. as we go to break, watch take two. shares dropping fast this morning. down almost 6%, announcing an acquisition that the street is at least for now, bearish on down to about 4% more th ecisacinwo nutes.k bk t could happen. it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. only comcast business' secure network solutions give you the power of sd-wan and advanced security integrated on our activecore platform so you can control your network from anywhere, anytime. it's network management redefined. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. competition beat us again.
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some said it's not possible. some said it's out of reach to them, we say it's already here look, it's right here. and what do we call this no so new chapter in human connectivity the iceland worse. >> that commercial for iceland's tourism board mocking mark zuckerberg's rebranding to meta platforms. join us is the head of iceland -- i hope i got your
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name right forgive me if i didn't tell me how you got the idea and how the reaction has been. >> thank you that was close enough. so we came up with the idea, the frustration of the metaverse and of course this is very exciting and technology isamazing, but we also thought that we wanted to show people that we still have reality in iceland. it's amazing work without vr headsets that was basically the idea. to showcase what iceland has to offer. >> so it's not necessarily a view that the metaverse as a concept has holds no water you stillbelieve, i mean, has there been a large pushback within the country that this move into digital technology is dangerous over overdone? >> definitely not. we haven't experienced any pushback towards this. so i think it's something we
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want to embrace, but also remind people of you know there is a real world out there it is closer than you think and you know, make sure that you are enjoying both worlds >> i get it that you want people to come to iceland, i want to go i'm more interested in physically being there than seeing it in a headset, but are you interested in marketing materials that might be in a vr headset and entice people to physically come? >> of course we want to use technology as much we can. and the connection here was we had this you know, firm idea, and we wanted to connect to this atmosphere that was happening right now. so the idea basically just came up within a week of the presentation of mark zuckerberg and then one week later, we launched this idea >> it was a brilliant campaign i can't tell you the number of
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people who say they physically want to visit the country. have you heard from mark zucker zuck zuckerberg at all in the wake of this there's this desire in him to be part of a viral, light moment. have you heard from him or his team in response to it >> we actually heard directly from him he commented on facebook saying this was amazing and he wanted to visit so we were going to have to see that >> and then i guess the other question would be are you already seeing an uptick on tourism interest or have you seen a spike in bookings or reservations at hotels or on airplanes? >> well, it's a bit early to say, but the video has gone all over the place and it's close to 6 million views right now. so we're just extremely happy to see that interest. of course, iceland has been open to u.s. visitors since april this year, vaccinated visitors we see a lot of interest from
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the u.s. coming to visit iceland. i think people are just happy with this message now. >> well, it's marketing genius is what it was because we talked about it and the whole world did last week. congratulations and best wishes. we can't wait to get to iceland ourselves. thanks so much >> thank you for having me >> fascinating week and we're just getting started, jon. we're grateful cramer joined us this morning, but it's going to be a big mix on earnings of retail and tech with some very big players reporting. >> yes, indeed when it comes to chips, qualcomm's investor day tomorrow is going to give us qualcomm's projections for growth beyond the smartphone we're going to get numbers behind that in more detail for investors interested not only in qualcomm >> we've got nvidi nvidia that' on an incredible run
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that will be a great one, too. busy again >> if you're looking at the markets, taking a short dip here lower. kind of coincided with the 30-year yield crossing above 2% as we see the ten-year getting closer to 1.62 let's get to the judge and the half >> welcome to the halftime report i am not the judge i am brian in for scott. well, the everything rally rolling on, mostly, as investors pull a taylor swift of inflation and shake it off the question is, will i keep making money into the new year in stocks or should i book some profits now? it is a very good question and we are going to answer it with our all-star group today which including jenny, jim, joe, and pete najarian, cofounder of cannot wait. get to them in a moment, but

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