kristina partsinevelos has qualcomm's angle on this >> meta and qualcomm, they're not strangers. they've been collaborating the last seven year, but the new long-term chip deal will include the snapdragon technology. the relationship is becoming even more intertwiced especially since meta hasn't successfully designed these chips on their own. i must reiterate this again. these chips will not be exclusive to meta hardware, which pays into qualcomm's pivot from end user equipment. they're trying to turn it into a broader provider of semiconductors, rather than just the go-to smart-phone chip maker. it's not it's first extended reality deal in july samsung partnered with qualcomm for the upcoming phone. microsoft and bytedance are working on platforms as zuckerberg said, they're still in the early stages of the metaverse, but vr headset demand is growing that means qualcomm can get a piece of that pie. >> that's key. so what does this partnership mean let's bring in dan ives. you say this is a step in the right direction for meta, but everything we just heard kind of says maybe the

are teaming up -- for quest products, using qualcomm's snap dragon technology meta and qualcomm have worked together for years qualcomm does power the latest quest 2 headset along with the rayban stories glasses meta shares are down, qualcomm shares are up. chip sets will be optimized for quest systems the chips will not be exclusive to meta this also shows meta's dependence on qualcomm and the fact that meta has not been able to make its own custom chips despite the attempts of its in-house silicon unit, improving chances to have competing with apple. this comes ahead of apple's event next week where we could get a peek at its first vr headset, expected to compete with quest pro, anticipated to launch in october. this upcoming quest headset is expected to be a higher end option, this after meta raised the prices of its most accessible quest 2 headsets in july one question here is whether qualcomm can help meta bring down the cost of its hardware and drive adoption of vr dan ives tells us meta needs all the help it can get on this virtual reality strategy with apple set to release it

you know, it's a record growth for qualcomm. it really -- i cannot think of anything better to talk about the diversification of the company. what's really happening, liz, we're winning the future of the automotive semiconductor business. the pipeline, in two months went from $19 to $30 billion, high predictability of revenues and we're twice what we said in our investor day last year. we're excited. >> aagree, but this is the year to date picture. we've got an investor audience and looking and saying, okay, great. why doesn't wall street see that? can't predict the market. i see a lot of uncertainty right now in the current environment. we see that in consumer. we did say in our last earning's call for phone business, we saw some weakness maybe we'll persist for a couple quarters. we don't know. but the story of qualcomm is different and fundamentals of diversification and expanse are all in place, and we saw that with automotive and seen with our industrial business and we focus on what we can control and build the long term s

ceo of qualcomm. going to get the news later today, back to you. >> meantime, closing in and it's that week. now the time to start buying the dip. will things fall apart even furtr?he we will discuss with tomley early. hang on by 60 points. (vo) what can a rk from t-mobile for business do for your business? unlock new insights and efficiency-right now. allow monitoring of productivity at remote job sites, with next-generation bandwidth. enable ai cameras that spot factory issues in real time, using next-generation speed. and deliver ultra-capacity 5g coverage that's years ahead of the competition. t-mobile for business has 5g that's ready right now. at fidelity, your dedicated advisor will work with you on a comprehensive wealth plan across your full financial picture. a plan with tax-smart investing strategies designed to help you keep more of what you earn. this is the planning effect. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, yo

qualcomm, amat intel has been sort of dead money for a long time. we know the story there. what advice do you have for investors with respect to these stocks what do i do if i own them i've ridden them up. i've ridden them down. what do i do >> you bet so if you're in semis and you want to be in semis and you're cyclically nervous, i actually like broadcom. broadcom doesn't have a lot of consumer exposure. the only consumer exposure they have is apple. apple's actually holding up okay most of what they have is infrastructure on the semi side, which is good. they have not been shipping everything their customers have been order they've been deliberately undershipping because they're aware what customer behavior tends to be like around these sorts of cycles. the backlog is $31 million more thain ayear worth of semi revenues got a lot of runway there. enterprise focused software that is much more stable and high margin they're trying to buy vmware right now which will bring the software semi mix to 50% >> broadcom's ticker is what, avgo >> that's right. it used to be ahavingo

. >>> a gut check on qualcomm. shares down, let's see, about 2 1/2% today, a little more than that despite announcements from the company's automotive investor day where we brought you previews yesterday where the company announced an expansion in the total addressable market by $10 billion of some of those auto moves $30 billion in the auto business pipeline, and announcing a new partnership to power mercedes vehicles starting next year. remember, mercedes was working with nvidia. that's an interesting win. qualcomm sees the auto sector becoming a $100 billion market for the company by 2030. but along with the rest of the semiconductor stocks, qualcomm continuing to get punished a bit. down 34% so far this year, carl. >> yeah, definitely made some news yesterday with you, john. meantime, turning back to treasury volatility, the next guest, a two-pronged challenge for technology we're grateful to have you great to see you. >> thanks, carl. the fever on the dollar, and the fever on rates you're waiting for one of th

meta shares down over 3% qualcomm was up earlier, now those shares down about %. meta is not the only social stock selling off. we see that snap shares are down nearly 3.5%, giving up some gains over the past two days pinterest down nearly 3% twitter down less than half a percent. looking over the media space, comcast shares underperforming the broader market those shares up nearly 3%. also underperforming, paramount global down 2% warner brothers discovery pretty much flat and disney down about 1% now, switching gears and looking over at the streaming space, we see that endeavor is in the green. the streamers are mixed. roku shares are down about 4%. netflix is down the least of the group, down about 1.5% tyler. >> all right, julia, a lot of business and a lot of action in that sector today. have a great weekend as we head to the closing bell, let's run you through where the markets are right now as we head into what could be a very busy final hour the dow is off 282 points. there's the nasdaq down 147 and the zmd off about 1% or 37 points so you're looking at ro

. -- is suing qualcomm for trademark infringements after qualcomm bought a new video which uses licenses that can't be transferred without permission. armor created much of the underlying technology for mobile networks. coming up, why not even joe rogan may be able to save mark zuckerberg's metaverse. this is bloomberg. ♪ >> you won't be able to have this experience in the future where you are sitting in meeting and your wife texts you, it pops up in the corner of her classes and you want to respond but don't want to pull out your phone. that would be rude. so you kind of twitch your wrist a little bit, some super discrete motion that no one even knows you are doing and you just sent a message. >> that seems like a massive distraction. people are already distracted by their phones. people get a text message and they're like, hang on a second. you're like ok. watching someone not talking to you anymore. now they are going to be looking at these classes and thinking text messages. emily: just some of mark zuckerberg's lengthy conversation on joe rogan's podcast. three hours the interview

leather and my throat for many, many hours a day i trying to figure out a way to am to securely keep her qualcomm with yeah, every single. but every single thought. all the grapes are dried on the vine for up to 60 days before harvesting, so they're already extremely sweet. sunlight might be vital for grapes, but i prefer the shade. oh, it's very, very hot outside. don't understand how you can work here live here and a little very hot from every day i. this is the reality. we live in the fields. we work in the field. when may, where i'll shoot and go to presentations, some big events, but it's not exactly where we are we, a lot of people offer all on there. the biggest percentage. so for the qualities made by nature who and the rest is a shame on thoughts a time to leave the mountains and head to the coast. cypress is the 3rd largest island in the mediterranean after sicily and sardinia. my next istation is ion napa, a beautiful little result with the european union eastern most port. i'm meeting dr. louis had you on and the marine biologist is tracking a new intruder in these waters. climate cha

big names like qualcomm aren't too much as well the reason why you're seeing the nasdaq 100 down, amd and nvidia, the two names the farthest from their 52-week highs down over 60%. and we have a few drivers, sara, like you mentioned, apple's weakness worrying chip investors as companies like qualcomm and micron, when apple is not doing well it has a ripple effect and bloomberg report stating south korean manufacturers saw inventory rise at the fastest pace in a decade as of this september. so that fast pace could have a ripple effect down the supply chain and it raises the question for american companies, is it going to get worse and that's exactly a question we want to ask when it comes to micron's earnings out. look at that coincidentally in 15 minutes their guide likely proves not conservative enough after shares have dropped, what, by 50% just this year alone, worse than the s&p 500, worse than the s&p i.t. index and worse than the semiconductor index. several themes i want to pay attention to for micron, memory pricing that has been decreasing and that's -- we want to see how lon

to read more checkout this week's addition of qualcomm one.com, follow us on twitter, barron, see you next week on "barron's roundtable". d evenin. ♪ ♪ >> from the fox studios in new york city, this is maria bartiromo's "wall street." maria: and happy weekend to all. welcome to the program that analyzes the week that was and helps position you for the week ahead. i'm maria bartiromo. enough is enough. despite raging ebb nation and -- can inflation and new reports of fraud, democrats are still looking to spend billions more in covid relief provisions. kansas senator roger marshall on the move he just made in the senate to try to stop all the spending. and his response to credit card companies' pla

to read more checkout this week's addition of qualcomm one.com, follo dr. michael youssef: when the romans came, they destroyed jerusalem and destroyed the temple. and those in the judean region were in danger, immediate danger. our lord jesus christ told them they need to run-- go up to the mountain. he was warning the disciples about these two events. the disciples said, "when is that gonna happen? and what are the signs of your return?" male announcer: up next on "leading the way."

to read more checkout this week's addition of qualcomm one.com, follo is a paid presentation furnished by rare collectibles tv, llc. in a letter dated back to december 27, 1904 to the secretary of treasury, president theodore roosevelt wrote a short two sentence letter, and this was in typical theodore roosevelt direct bravado style. "my dear secretary shaw. i think our coinage is artistically of atrocious hideousness. would it be possible without asking permission of

to read more checkout this week's addition of qualcomm one.com, follo that does it for us. have a good evening. ♪ ♪ >> from the fox studios in new york city, this is maria bartiromo's "wall street." maria: and happy weekend to all. welcome to the program that analyzes the week that was and helps position you for the week ahead. i'm maria bartiromo. enough is enough. despite raging ebb nation and -- can inflation and new reports of fraud, democrats are still looking to spend billions more in covid relief provisions. kansas senator roger marshall on the move he just made in the senate to try to stop all the spending. and his response to credit card companies' plans to track your gun store purchases. plus, the federal reserve's rate hike sinking stockings. david bahnsen on where we go from here. plus, a new lawsuit just filed against florida governor ron desantis over flying migrants to martha's vineyard. i'll be talking with florida attorney general ashley moody about that. and new details of a major drug bust in florida that seized enough fentanyl to kill 4 million meshe

so the general tell-good story is we never mention qualcomm, that is also having problems >> qualcomm is not getting sued, xlon. >> i'm sad >> don't be sad. the sun will shine again. >> we'll see you too long. >>> we're back after a break >>> welcome back to "squawk on the street." this is our last tranche of breaking news. construction spending for the month of july, expected down 0.2, and we doubled down minus 0.4. that's two months of back-to-back negative construction spending. if there's any good new, it's found in the revision. minus 1.1, which happened to have been the worse since april of 2020, gets upgraded down to 0.5. so we cut it in half basically last month and down double this month. >>> on ism manufacturing, our august read at 52.8, 52.8 is exactly the same as our july read at 52.8 both of those happen to be the lowest level going back to june of 2020. if we look at 52.5 for prices paid, 52.5 is definitely so much slower, it really is a blast of good news. 52.5 is the lowest level going back to june of 2020 as well remember, on prices paid, that's the one component we w

same story for qualcomm and texas instruments, the only mover there, but not a lot -- a huge amount of change. the same could potentially be said for the products unveiled themselves. from the event in apple, bob o'donnell, the chief analyst at tech analysis research. we have gotten rather accustomed to apple blowing our minds in the past. do they still do this? what is your take away from the products? bob: look, they were incremental improvements. most of these are things to be expected. we saw improved iphones, improved watches. but it is the little extras you look for from apple. in their case, you could argue it is the satellite communications and they offer now with iphone 14 as well as is the zoom capabilities in the iphone 14 as well, especially the proseries. these were things we expected so seeing the market not move a lot is kind of the way it would be. they are working with globalstar on the satellite side. that company will potentially see benefits down the road. i think that was the part that was most suitable. like, will -- most questionable. like, will they do it or not

blevins to the complex negotiations related to apple sourcing 5g qualcomm mode latest iphone unit. he did deals with entail. -- intel. any big supplier you have heard of, it was his responsibility to get those components ahead of the competition and at better prices than the competition, leading to strong margins. some people in the company say he is irreplaceable, given how important he was to the bottom line. ed: what we know about how people -- how apple felt about this internally and what has the response been to our reporting? >> the video was published on to talk on september 5. after the video became public, which by the way it has well over one million views, i would quantify it as viral. people within the apple operations and organizations reported the video to human resources which enacted an investigation. we are told this month that jeff williams, apple's chief operating officer, made the decision that blevins would be leaving the company. blevins issued a statement, which is in our story, -- apology. i spoke to apple as well and apple confirmed blevins would be leaving

news week for qualcomm, david, the news they're teaming up with meta to develop a custom chipset for virtual reality. that comes on the heels of the eu and obviously not going to appeal that case that was going to cost them almost $1 billion >> although they did get sued by a.r.m. earlier in the week they're always dealing with a certain amount of litigation at qualcomm, obviously very tired into wireless. as you point out, carl, the stock's performance this year has not been particularly bad, at least certainly well outperformed the broader market, being down less than 10% over the last month year to date, it's worse than that if we go back a full year, not as bad last three months has been much of that decline taking place >> you mentioned energy, one of the outperformers. leslie, banks also your area, benefiting it would seem at least from a response to the job reports, that may or may not mean rates, off a little bit jpmorgan, bank of america, citi, all up, you see it there, it's call it 1% >> that's an expected reaction when you look at today's jobs report because what it implie

. >> they tried to buy qualcomm before it was rejected saying we are not interested in a hostile takeover, also raising revenue forecast for the summer and demand across all of its markets that will continue for the rest of this year. nvidia is getting kathy wood endorsements, she's buying $50 million while selling $41 million in tesla and micron doubling down on idaho investing $50 billion to build new manufacturing there and that is after congress passed the $52 billion chips act. amazon, billion dollar prequel the rings of power debuting last night, cordova billion dollars spent on the rights all loan. across the entire streaming sector with hbo max on the game of thrones prequel, streaming was getting high costs and losses which is why comcast cut $1 billion across nbc universal, and apple might be paying $2 billion, to drive apple tv plus subscribers from wall street, that's a question as we head into the apple event next week, new research says apple is the dominant smart phone in america with 50% market share over android so there are more iphones than all other phones combined, ex

if you take a look at my show last week -- >> qualcomm's made some interesting moves in automotive. last week -- i mean, they have moved much more aggressively in terms of becoming sort of the digital platform in automotive, create a tesla outside of tesla. >> that's gm gm, when you speak to kyle vogt, who does their autonomous cars, he's saying that's a bit of separate but carl, we are seeing companies frantically trying to get away from cell phone and rechange their status because they see that china's not buying the cell phones. >> it's not a growth business. >> no, it's not a growth business >> not for the supplier. apple, of course, we mentioned, down we hit biogen, but it's worth coming back to and lilly, because shares are up 6% to your point made earlier in terms of their attempts to address alzheimer's, lilly is benefitting this morning, although, again, i'm relying on jim here because he's followed it much more closely they have yet to release data. >> they're not ready yet they're up 28 -- they were up $28 at 5:30. >> what was up $28 >> stock of eli lilly. >> oh, they wer

now there's two kinds of tech, the qualcomm kind, you have these chips used in phones and autos, maybe phones are good, maybe china is too slow. and then there's this kind of tech where you got big ticket items. and you can't close deals. workday closed deals but the last time salesforce had some pushback then you have the other problem, the dollar. >> yes which they talked about. >> they've done everything right. >> i thought of you this morning i was listening to you as i do on the way into the studio, i went to get my coffee and the other person who was to help out didn't show up that happens three times a week, the milk is not out, everything, i heard you talk about needing more pain, that's what fed chair powell said, people need to come back to work when you say there's value in tech, what part of tech is that? would you touch the still expensive, relatively unprofitable names >> no. absolutely not i think the fed, when they raise rates, is thinking about those companies. not hub spot has to come down, you look at hub spot -- a lot of companies are closing in or barely profitable

we'll learn what costs have to be cut qualcomm will be on display when the company throws an analyst meeting with the automobile work with the chip maker i think it will change the perception and maybe people like this ten times earning stock. not much friday. just some different indicators for manufacturing and service. i put them up because these different answenumbers are weakr it will be used to mock jay powell regardless of what he says poor guy can't get no respect bottom line, yes, i'm not changing that in my view this isn't the first time i've seen bleak we'll get through it together but it takes time and unfortunately prices, meaning lower prices and perhaps even an end to the miserable month before we can feel more certain about what we can buy and less certain at last about what we can sell why don't we go to dave in new hampshire, dave? >> yeah, hi, jim i just want to thank you so much for all that you do for us little investors out here. we're working hard trying to save in the 401 k plans as much as we can. jim, the end of next month i'll head out with my wife to times

i'll round it out with qualcomm. it has a significant turned with the automobile industry. pulling it all together, the innovation that will translate to better growth over the next one to two years will help the companies create value for customers and shareholders over that time frame. >> david, there is focus on one sector that is not technology. that is energy the reason i bring it up is we are looking at live shots right now of the queen's funeral you can argue the uk is at a cross roads with the energy picture. energy has been an out performer for some time now. would you still be investing in energy given what we are seeing across the global energy complex? >> we would not. short-term, we think energy prices could go higher and it is a problem for the world. if you take the 6 to 12 months, there is a likelihood that energy prices will be around here or lower and we think the stocks which run up in anticipation will likely be lower for a while. we take profits in energy and redeploy in areas that have done poorly we agree on the technology companies that the other gue

the major clients except for apple, they've cut orders for next year this includes amd, nvidia, and qualcomm, cutting its revenue forecast for 2023. finally, blackberry, that stock is lower even though the company reported a smaller than expected second quarter loss. it also beat revenue forecast. revenue from its cybersecurity business fell as customers reined in spending due to economic uncertainty. >>> time now for something random but interesting of course, for that, we send it out to our brian sullivan. >> in today's rbi, let's talk real estate because we know that housing has been slowing down in a lot of cities and towns across america, sometimes very quickly. the pandemic boom is petering out, but not everywhere, it would siege and here on cnbc, you know we always love to show you some eye-popping rey you can buy for tens of millions of particulars. that's what robert frank does best today we're going to go downscale a little bit to a very modest 1,660-square-foot house in cupertino, california that's apple's hometown. when we say modest, we mean in size, not price. the "san jose mer

to double on an annual basis and what is happening in automotive, we had an interesting day look at qualcomm or nvidia, they're doing the brains of the car. >> yes. >> okay? think of marvel as the nervous system we're the network inside the car. so we work with those big computing companies, right, self-driving and info and things like that. we actually provide all of the connectivity inside the car, which is moving to ethernet. >> what percentage of the cars are doing that >> every car company is moving to it for the end car network of the future you have to. because you need speed, you need reliability, you need the security and whith the ethnerne network, you can have these in a carver sustained today, there is literally hundreds of pounds of cabling connecting these different esus inside the vehicles we actually make it possible to strip away the cable cost and make the network much more efficient and quick and reliable. >> good. >> yeah, it's all in front of us. >> right we were out at amazon web services it's booming you have amazing hyper scaling business but on premises you weren't h

gains following a jobs report that suggests a soft land been will be in the cards we will debate, plus qualcomm and meta teaming up. is this a win for both companies. we'll give you the details and how to play it we'll get to that, but we begin with the markets bob pisani has the details

subsector within the nasdaq chip stocks, semiconductor names continued to be under pressure ceo of qualcomm talking about software economic headwinds. seems to be part of the story today. >>> thanks for watching "power lunch," everybody. >> "closing bell" begins right now. have a good day. >>> the fed hangover sending stocks lower once again. nasdaq feeling the most pain the dow has made a brit of an impressive comeback. most important hour of trading starts now welcome to "closing bell." i'm mike santoli in for sara eisen. straight to the market dashboard. s&p 500 has been down as much as just about 1% at the day's lows. significant thing, look at year-to-date chart ed in the seesaw action after the fed decision we did break below this 3,800 level an area that some of the bulls hoped would kind of hold it was a range low for what we've been into the past four months and now in an overshoot zone not far from the june lows that's the issue the messy action is happening in treasuries in fixed income stocks sloshing around, getting oversold maybe a little in the immediate down side but it's a

the new swamping the stocks of some key iphone suppliers including qualcomm, taiwan sami, sky works, corvo, the one in the green up half a percent and sky skyworx was worse and reliant with the partnership with app and will 59% of radio frequently with the 2021 revenue came from the supplier deal with apple. look at broader market. how about that? green on the screen and apple has the heaviest waiting on the s&p and in essence gives apple more muscle to move that index up or down, the s&p along with the nasdaq and dow decidedly possible same with the russell and biggest percentage move here and as we say about 51 minutes left to trade. pull apart the dow here 569 points getting a nice bump from boeing. boeing is popping 4.5% on news taiwan's china airlines, that's remember, taiwan owns that airline, has finalized an order for up to 24 of its 787 dream liners. boeing at the very top of the dow 30 on that landmark deal. we've got s&p and nasdaq in the green too. s&p up by 2%. nasdaq, i mean this is a nifty trick, up 220 points when apple is down. unusual, up about 2% and the russell po

i don't get it and if i want to bet on a beaten up tech company, i'd rather go with qualcomm at a very low multiple with an auto business with the franchise or let's be simple you can own marvel technology, a stock going down i see that stuff this makes chips for the one part of micron's business doing well, the enterprise so the fundamentals are good. if you don't know the companies join the club. you'll get all the information you need about those three there is a method to my non-madness. stocks have been crushed almost all stocks so why buy the trash stocks of damaged companies when you can buy the destroyed stocks of perfectly healthy companies? right now there is no edge to buying bad when you can buy good instead. that won't always be the case. weak quarters do create opportunities but in my experience you have to be more patient. these beaten down stocks are turnaround stories and those just take longer than other kinds of companies to turn why not buy the e stocks of companies doing well th they're cheaper than the fallen stars yet the numbers are going to come down these peop

instruments is holding up it's a completely different business mix and everything else texas instruments, qualcomm. it seems like the cheaper semis maybe can be a little bit more resilient in this environment but when it comes to nvidia, everyone loves it and the street has a $205 consensus price target on it. >> even harsh has taken down the price target from 235 to 200, so you still clearly like it at this level who else is at risk? >> so we think effectively what's happening, and you guys were talking about this earlier on your show, that inflation is hitting the consumer pretty hard we had another company that reported last night, a smaller cap play that knocked about doom and gloom in the locked-up sector the general notion that all around china, things are starting to crack a little bit so that message followed by the nvidia message was not well received but the fact is that anybody who supplies to the cutting edge hyperscalers in china would have to take a hard look at their revenues for example, intel or amd, how much of that may come into the licensing requirement. amd received such a not

competition hasn't caught up and where the multiple hasn't come back down to earth that's intel, that's qualcomm. you can just pick them the graveyard is littered with them that will happen with nvidia perhaps wong should have been wearing a parachute instead of a biker jacket to prepare for the decline in the pe because that's what's happened. this may be short term, but it's an important short term, as josh says look, at some point i'd love to buy nvidia, because i do think he's a good ceo. but now's not the time >> let's do this straight ahead, stocks in september, the technical take on the market we're joined by oppenheimer's ari wald nasdaq down 2% dow has come off its lows. still down nearly triple digits. keeping a close eye on yields as the ten-year goes up to 325. we're right back wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq only at vanguard, you're

subsector within the nasdaq chip stocks, semiconductor names continued to be under pressure ceo of qualcomm talking about software economic headwinds. seems to be part of the story today. >>> thanks for watching "power lunch," everybody. >> "closing bell" begins right now. have a good day. >>> the fed hangover sending stocks lower once again. nasdaq feeling the most pain the dow has made a brit of an impressive comeback. most important hour of trading starts now welcome to "closing bell." i'm mike santoli in for sara eisen. straight to the market dashboard. s&p 500 has been down as much as just about 1% at the day's lows. significant thing, look at year-to-date chart ed in the seesaw action after the fed decision we did break below this 3,800 level an area that some of the bulls hoped would kind of hold it was a range low for

okay, nasdaq winners, starbucks, t-mobile, comcast, paypal, and qualcomm. the 10 year treasury yield where is it right now? 3.42%. where is gold right now? that certainly wasn't much of an inflation hedge, 1,713 per ounce. bitcoin as we've told you 20,000 bucks a coin. oil 88 i think, 88.59 is your price up a little today. nat gas also up a bit, 6% because it's all over the place these days and the average price for a gallon of regular is down to 370 in california though, it's still 543. coming up, the white house claims they have done more to secure the border than the previous administration. really? roll tape. >> we're certainly doing a lot more to secure the border and could be doing even more if republicans would stop their obstruction. stuart: what! what! it's somebody else's fault? good lord. texas congressman tony gonzalez says it's president biden who brought pure chaos to his state. he's on the show. and there's this. the threat of a rail strike still looms and the food industry would definitely be rattled if a shutdown happened. food prices would

and then i got micron, and i'm thinking, okay, what happens -- i happen to like qualcomm very much i've been very wrong i like christian but what do i do when the number comes out and it's not good? what do i do just say, hey, that's not my job? it's fine? i can take a beating the beatings will continue until the morale gets better >> it's the conundrum that many investors are facing right now >> why do we have to buy companies that aren't doing well when we could buy really good companies that are doing well and the stocks are going higher? what's the matter with that? >> there's nothing wrong with that it makes sense it's difficult to choreograph. >> jj was on, apple is the last refuge i think the high-end apple is doing well the low-end apple, there's too much inventory i like the service economy, but apple has had periods where it's been down 20%, 25%, and you had to buy it, not sell it that's all i have to say about apple. you will not catch the bottom. that will be caught by someone else, but you'll get in the stock before the next big move >> guys, it's friday sometimes like to c

you look at in indiinvidia and qualcomms. will we have a glut. everyone is expecting that but those are the type of companies you want to own. >> thank you for all that. we'll see you again. >> thank you >> andrew, we made it. you'll be back here tomorrow >> heck of a day let's see where we end tomorrow, though or really where we end today we'll see what everyone has to say about it tomorrow. >> let's go to that delivering alpha thing tomorrow, do you want to? >> i heard there are going to be good people there. >> make sure you join us "squawk on the street" is next ♪ >>> good tuesday morning welcome to "squawk on the street". i'm carl quintanilla david fraser and jim cramer are back two-year yields seeing their biggest drop since july. they are a little nervous the fed won't wait to assess the rates. a tug-of-war between fed policymakers some are not seeing eye to eye >> chevron and bp

at nvidia, leader in ai, which delivers value in areas, amazon, e-commerce and their cloud business, qualcomm, areas like 5g and an interesting auto business. and so those companies are innovating, they're delivering value. i think those stocks are attractive even with the cyclical headwinds that we're facing in certain parts. >> so you have the fortitude to buy more and buy now, is that what you're saying >> that's exactly what i'm saying if you're looking at company who are able to deliver value, those that were able to execute on product cycles, think about google with search, but that's a very durable business. you look at a company like motorola solutions, for example, a leader in public safety, a lot of the infrastructure, a lot of 911 centers can't receive text or video, motorola is a leader they have growth in areas like video. and so we think that even at current levels, given the challenges, these are stocks that we're buyers of and we think they're very interesting with a one to two-year horizon >> time flies when you're having fun. thanks, sarah. we're going to have to end it ther