micron's macro message. it is cutting 10% of its workforce and you have the third quarter gdp coming in strong. in the china risk factor, china covid cases explode and the country eases up on restrictions on international travel. brace for impact, and historic storm hitting the u.s. crushing holiday travel. we will look at the risk for the. --the grid. from new york, i am alix steel with guy johnson. nasdaq 100. only people care about the -- people only care about the weather. guy: are you now talking about the weather? are we there yet? this feels like a big moment. alix: this will crush christmas. guy: you have given me grief about talking about the weather. whenever i talk about it, i can hear alix steel snickering. alix: your weather doesn't crush christmas. it will crush persons. -- christmas. guy: we have traded strikes that will crush christmas. you talk about the macro data which is interesting. it is macro versus micron. i wish we had come up with that earlier on. the message from the macro data is

micron reporting a wider than expected first quarter loss. revenues dropping by half to under $4.1 billion that missed forecast as did the guidance for the company quarter amid the falling prices and demand for memory chips. micron expects to cut capital spending and 10% of the work force as well. something the ceo an addrn dres in the earnings call >> my icron is expecting cuts. we are taking measure to cut costs across the company >> let's talk more about the micron story with joseph moore at morgan stanley. this micron report is getting attention because we look at the chipmakers as leading indicators for technology overall how concerned should investors be about the micron results? could there be themes that spread to other chipmakers as well >> good morning. i think it is a signal there's too much inventory of everything in semiconductors. there are idiosyncratic issues which are worse than others. i agree with the company that the supply demand imbalance is the widest we have seen in time. the losses of this magnitude are a reflection o

a gloomy outlook for micron. we cannot forget about carmax with good economic data, should we be pricing something different from the bed? -- fed? this is bloomberg. ♪ it's official, america. xfinity mobile is the fastest mobile service. and gives you unmatched savings with the best price for two lines of unlimited. only $30 a line per month. that means you could save hundreds a year over t-mobile, at&t and verizon. the fastest mobile service and major savings? can't argue with the facts. no wonder xfinity mobile is one of the fastest growing mobile services, now with over 5 million customers and counting. get in on the savings and switch today. >> i'm sean oliver, welcome the bloomberg markets. >> let's get a quick check on the markets. it's a brutal day unfolding. the s&p is down. 90% of stocks on the s&p are negative territory. a large part of that is happening in the tech sector. the stocks of the semi index of the nasdaq 100, they are down by 106%. you could make an argument that it will not take a lot to

micron, as you point out, has more commodity focused however, i love the manager of micron, i think you're seeing an economic slowdown. >> appreciate it final trades next on "halftime." good luck. td ameritrade, this is anna. hi anna, this position is all over the place, help! hey professor, subscriptions are down but that's only an estimated 15% of their valuation. do you think the market is overreacting? how'd you know that? the company profile tool, in thinkorswim®. yes, i love you!! please ignore that. td ameritrade. award-winning customer service that has your back. new customers get our best deals on all smartphones. that's right! but what if i'm already a customer? oh! no problem! hey, cam? wow! same deal! yeah! it's kind of our thing. wow! that's a great deal! what if i'm new to at&t? cam, can you? nice! hey! but what about for existing cust- it's the same deal! it's the same... is he okay? “it's not complicated.” with at&t new and existing customers get our best deals on every smartphone. >>> time for final trades. joe, kick it off >> i'm looking at relative outperformance an

micron fli

are they even more exposed than the likes of micron? >> it definitely seems a little bit of a stretch to be completely honest. the reason people are using is the demand scenario is really weak i think one way to think about it is if you look at the end market for chips, amd is a cpug, micron is a memory company, and micron was one of the first ones to actually in early june to report weakness in demand. so memory actually has been leading us into the downturn so there is a view that memory would lead us out of this dow downturn and if that downturn is getting prolonged that could mean like the other guys would take a longer time to recover so. >> am i wrong or have we gone very at lightning speed from chip shortage to chip sure plus? is it as simple as that? >> definitely. you've seen pockets. there's still some parts of the chips still in short supply. i would say like analog components, et cetera, and then some is definitely in short supply but memory, you know, i don't want to use the term commodity, but it is viewed as a commodity,

how much stock, how much do you invest in microns sincerity? i think sincerity is the important word. does it? does he really wants to be the man to broker piece or did you want to be the man to take credit for a piece? i think it's the 2nd one. i think he wants to be the man to big credit verb east because france, if they do sit down at the table at the end of the day, frances, a member of the european union, it's a member of nato, the european union as put forth a very decisive position against russia into the french president is the de facto leader of the european union as a, or as a member say at member state head of state. so i'll be able to shed that label is very, very hard. being able to switch hats on and off. now when we look at she's you thing, when we look at rigid ty battered one, when we look at other leaders late on mom had been psalm on. all of these leaders have been very, very balanced in the past. they truly wanted to be part of the peace process. ah, 2 is probably probably best position to play the role of mediator just beca

it brings us, what's the message from micron? i was hanging on this was a pandemic reset, chips are a cyclical industry. we revert and it's the cyclicality of something like chips. in the pandemic we thought it was good to be structural because of the shutdown and factories moving on shore and maybe we are learning that's not true. maybe it's a true demand falloff. guy: absolutely. it's hard to figure out what the message is. what is the message from micron. we speak to our next guest. investment management joining me now on set. nice to see you. is there a message from micron or is this just an industry that's incredibly cyclical, at the commodity end of the spectrum as a result of which we are seeing what we always see. >> we think overall the market is pricing in a fed tightening policy and therefore we are seeing cyclicals is not the best place to be, we are very defensive in terms of exposures and that's what we see in the market at the moment. defensive is the best thing to do at the moment. alix: when you look at the micro

diplomacy, but last week micron said something that - shuttle diplomacy, but last weeki micron said something that made shuttle diplomacy, but last week- micron said something that made my heart _ micron said something that made my heart very— micron said something that made my heart very happy— micron said something that made my heart very happy - _ micron said something that made my heart very happy - he _ micron said something that made my heart very happy — he said _ micron said something that made my heart very happy — he said we - micron said something that made my heart very happy — he said we will. heart very happy — he said we will not push — heart very happy — he said we will not push negotiations— heart very happy — he said we will not push negotiations on- heart very happy — he said we will not push negotiations on ukraine| not push negotiations on ukraine until they— not push negotiations on ukraine until they were _ not push negotiations on ukraine until they were ready, _ not push negotiations on ukraine until they were ready, and - not push ne

why is micron down 5%, but lam down 11%, right? what is that all telling us about this highly cyclical, usually leading part of the market it doesn't feel like it's a good sign >> or applied materials. they make the equipment that makes computer chips if you have a supply problem, an inventory problem, a possible glut happening, that possibly means you're not going to have to make as much going forward, before you clear out the inventory. that's an overhang for memory chip makers. there's been so much negativity about what it could be like for a recession. whether it's going to be shallowerer, soft landing or whatever it is i guess, maybe, one of the things that a lot of investors are trying to grapple with right now is whether or not the earnings picture, we've spoken a lot about multiples over the course of the last several months about how higher interest rates means that there's an alternative, opportunity costs are now more profound, and that could mean valuations come down. well, right now, the earnings story isn't all that d

you can see shares of micron moving up ever so slightly, up 2% on the quarter too, but they announced they were cutting by 20% just in november and their competitors, samsung, didn't do the same >> if we talk about the overall weakness with the inventory certainly going to be a problem. i wonder if you can take a look at micron's results, and extrapolate anything into the broader health of semiconductors, only because we have seen the chip stocks act as a market sentiment gauge >> it is one data point. but i think to your point, the important thing is demand, especially when it comes to servers, cloud spending as well. we know it's old news now. pc and handset demand has dropped dramatically that's the next ball to fall or ball to drop within the semiconductor space in terms of demand if that continues to be weak, that bodes negatively for q1 of next year. maybe over the first half of next year is going to be weak for semiconductors, and we'll start to see a pickup. i think there's an overemphasis on certain segments, auto, for example, qualcomm being a strong player in that sense, we

>> i don't cover micron. it's a colleague of mine, but gross margin -- at the end of the day they guided gross margins 8.5port? it's a function of utilization and price. it sounds like both those things are going down not micron, but we have seen other players, most players that aren't necessarily around nanny more, but we have seen it get very bad in general, they can go negative i don't know if they'll do it for micron, hopesfully not, but it's not unheard of. >> mike santoli, at least one research report said, started to talk about the notion of inventory write-offs, not declaring or predicting, but just saying, what if >> that's the next potentially wave that i think people are braced for the other end is the game theory are trying to play this phase of the cycle. if you see bigger competitors investing, you have to figure all that out, right? >> this is part of it. like, the idea that micron is cutting cap ex, they have already said they expected cap ex -- or quip -- equipment will be down. there's been

micron reporting earnings after the bell. we expect revenue to fall from the industry oversupply and we meant. shares up by about 1%. a little optimism baked into the market. joining us is paula from bloomberg intelligence. walk us through what you are looking for in the earnings report today. paula: my expectations are low for this quarter. i think most are. we had the cfo at an industry conference, with bearish statements -- combat with bearish statements even after guidance was lowered on the last call. i think all eyes are on the future outlook. what the commentary is, how the end markets are doing, whether they are cutting again -- cap ex again. is it going to be the same as what they said last quarter? ie, do they expect an inflation point quarter? jon: to your point about spending plans, especially in this environment we are now seeing so many companies navigate, what would you estimate on the capex front? paula: i think they will bring capex down a little bit. probably slash it from the $8 billion already. that's conc

you know, microns idea. we have seen some new leaders such as the present of croatia and publicly opposed the expansion of nate's audience. but he, he ponzio backing for this with in europe. yes. if you are, some countries were a quite too suspicious and critical of nato enlargement like hungary as well. oh, he tele or so. oh, oh, spain and some politicians. he, germany, also they did disagree. we'd be sporty, c, on or sore, many experts in france or so a, the longer the conflict is going on, the more it to wheeler or damage or european security and interest. and i think you're the europeans shooting more in tipster independence from united states and nato and troy. we've equation of the readings between european leaders will think or re shoot for most security we russia included, or should promote id, but outside nate to working. well, we'll have to wait and see if that idea comes to be pure, a manuel torment experts in geo politics on presidents of the international association. you're a constant jonah's l

micron's chips are used in cell phones, computers, data centers, all three end markets are as weak as they've been in ages even the third data centers, because we've got too many pcs, too many phones and now too many data warehouses for the cloud. the demand just isn't as great as these companies thought in part because in the case of data centers which have been a booming market a lot of the problems are in gaming and advertising. the customers just don't need more space this wouldn't be so bad except technology is so huge. a lot of people don't understand the way the stock market works it's a breakdown in how much the s&p a sector is. right now 26% of the s&p 500 is in tech. a decade ago 'twas only 19%. back in 1995 it was less than 10%. these days gigantic companies that control this market in a lot of ways. even after an awful year for the sector this sector's still too big. so when a good company like micron tells us that every key area's weaker than we expected it reverberates throughout the whole market because the issue isn't micron a lot of the problems it has are its competi

so this is a tough one you know, micron, obviously,ha negative guidance. people were very -- investors were not happy to hear that they were going to cut their memory chip supply. they were going to reduce capex. we're at a supply glut and we have been in supply glutsz before in 2019, we had a massive supply glut and all the d-ram stocks got hit and we went into a supply shortage and everyone started piling up and we're doing that again the long term on d-ram and demand for memory is very strong you just look at the kind of demand that will come from smart city buildouts we believe in the long-term story on this. micron is one of the more steady kind of more steadily priced stocks, a stock that tends to trade at 10 times, it's trading at 6.5 times we think that it is a more stable way to play than like nvidia. >> let me ask you about the market more broadly. a lot of people are pointing out we're down 5% pretty sharply since the fed meeting. bond yields are lower. what is the message here do you fight it? do you stick with it what are your thoughts >> we c

micron falling after that disappointing quarterly result we will break down the landscape in semis, john man, what a turn today >> indeed. let's start with the semis at the core of today's sell-off the smh down 4.5%. micron following this morning and not as much as a lot of the others after it missed on the top and bottom lines lower than expected guidance. it also announced a restructuring plan for 2023. that includes reducing head count by 10%, suspending bonuses company-wide and sanjay placing the blame on lower demand in most markets and customers bloated, yes, inventories. micron not even the worst performer and lam research down 9% applied materials and nvidia, kla down sharply, as well. carl, this in a way isn't a surprise and we've been talking about inventory for weeks, month, even because you have the oversupply situation developing and questions about demand not just from consumer and increasingly as enterprise and we're in two trading days before christmas. it's not clear what the picture is to start 2023 and only now it's becoming clearer and it's ugly adjustments here and i

we've been microns party and also within mackenzie as a firm. in the latest episode of our keys going underground option returns the speak with professor wong jing, who deconstruct the u. s. stereotypes about china. you can watch a full version on saturday. in the meantime, here's a short preview in europe and the united states. quite apart from the fact that the saudis, the u. e. the middle east is routinely condemned over human rights issues. china is a routinely on the bbc and cnn, and other television, nerve broadcasters, as a, as a grocer, human rights violator. of them all with concentration camps. i'm not sure quite how they argue the choice about the fact that the saudi arabia is the guardian of the holy places of his slum. whilst scheiner is supposed to simultaneously be anti muslim, but is the narrative. last, listen, i only have 3 part number one and only that is loose like the people who accused china and other countries as the human rights violations loose lack of them perfect . they don't have any problems that i am an agent. viola

so they're trying to put a manual micron back in this place. it's almost as though they don't want to piece deal though we know many thanks to coming in with the details. would appreciate it . marina cause river what's the mongolia now where thousands of demonstrators are raleigh down? the government's headquarters in the capital is they event on a corruption scandal. some protesters have reportedly tried to storm the building. security forces are said to repel the 1st wave of writers. and the standing guards to push back any others, which is one of the authorities to punish those allegedly responsible for embezzling $12000000000.00 in a co purchase. the government has reportedly held a special session on the situation and has requested china, mongolia is biggest cold and puerto to assist with a probe into the missing money. is there any fighter jets that struck the southern parts of palestinian garza on sunday that was in retaliation for a miss sol allegedly launched from the strip the previous night as well claimed its jets, targeted a weapon

>> micron is terrible. micron's problem is that samsung is just a very irrational player they've not cut back at all, and if they cut back, i think you would see something in 2023 that would be good for micron, but micron told you that things are not good, and they have layoffs, and they are not able to make their numbers because the demand's weak, it's getting -- again, what i think the central bank should be listening to, and the supply is overwhelming so it's just not a good situation for a very good company. >> all right jim, we'll be joining you in about seven minutes or so. we'll be right back with what to watch ahead of t oni bl wl reetpengel ♪♪ this... is the planning effect. this is how it feels to know you have a wealth plan that covers everything that's important to you. this is what it's like to have a dedicated fidelity advisor looking at your full financial picture. making sure you have the right balance of risk and reward. and helping you plan for future generations. this is "the planning

but when micron historically, they do bottom at around book value, so for them, tangle book is in the mid-40s. so you don't have a ton of downside and historically when they have hit that bottom before, they have often been the worst player in the space, so the worst technology, different questions about their balance sheet and none of those questions exist today. they arguably have the best out there. they have a strong balance sheet. and so i would argue that the stock should bottom somewhere north of that tangible book value. so i just think you are at a bottom on the target pick. it is hard to know exactly when cycles are going to turn and so now is a good entry-level for micron even if the cycle doesn't turn for 6, 9 or even 12 months with other names, it has more to do with share chip amd taking share from intel. even though the server market might not be as strong, same thing with taiwan semi, there again you have them benefitting from -- >> yeah. and, matt, i'm interested, though, in the fact you see these green flags around the gaming market. there has been concern and questi

. >> micron earnings are wednesday. these chips have been beaten up hard, certainly the most sensitive area of technology, the index is down some 30, 33% year to date so micron reduced wafer starts not too long ago to right supply we think the deterioration in memory conditions is well understood by the street and more important to investors is when a cyclical bottom is established. our take is the industry is probably closer to a trough than a peak we think micron improved its conditioning to that end the down side here somewhat limited, book value around the mid 40s. we like the stock here we feel like risk/reward it starts to look more compelling at the levels. >> i want to ask you more about the memory part of the chip sector a lot of weakness, we've seen a lot of push or pull forward of pc sales which have hampered the outlook as far as 2023 we're seeing a big ramp up when it comes to electric vehicles but isn't this macro friend of more and more electric vehicles seeing double digit growth in france, germany. here

we're not cheap enough in russia's favor, so whatever to love, whatever sholtes were, micron have to say about whether, how it russia should be engaged. there's got to be this idea in mind that the, the security outcomes for russia should be engaged in their st calculation. and thinking, and here i think a lot of people in moscow have all are including in foreign policy domain and then for policy making circles are very skeptical about how serious and independent of policy makers, micron shows are at the end of the day. so whatever they're saying may be just the signal that they're chown channeling in coordination with united states. so you know, they have the okay from us to, to test to the grounds and see how russia will respond to the other. you mentioned it before, we go to the break here. i mean it's in that there is a, a disparity here going on here. and then there seems me that the, under the guidance of washington, there's quite uniform security the definition of security for the west year. but they, it just opposed to that. i mean, the more they get tight security wise more

but president micron also wants to discuss trade. he's accused biden's us focused climate policy of hurting frances economy. the 2 agreed to work closely on energy in climate issues. moving forward. want to look at best of both presidents repeated their commitment to support ukraine in its battle against the russian invasion. to day, we reaffirmed the french united states together with all our allies and al all our nato allies and european union g 7 stand as strong as ever against russia's brutal war against ukraine. we talked a lot about that and my lateral meeting were continue the strong support people ukraine as they defend their homes and their families and their sovereign territorial integrity against russian aggression which has been incredibly poorly condemned. these will immediately we lead all the diplomatic actions and to condemn these for the war crimes committed by russia on the ukrainian soil. and we support both he ukrainian army that these resisting the ringing population resisting as well. and please allow me here to

we then microns party, and also within mackenzie as a firm. that's a route phenomenon is peter scott's on the back again at the top of the hour. the latest news and views as well as analysis by 10 on uh ah, ah, ah, ah, ah, mm. brush in the west survived the cold war because both recognized and practice the concept of indivisibility of security. one country should not attempt to attain security at the expense of another country. this is exactly what the west has done against russia to the point of claiming russia has no right to any security guarantees. ah, with by the middle of the 19th century, practically the whole of india had been under the rule of the british empire. the colonial authorities had imposed that heavy death bringing the people into poverty and were exporting natural resources. and moreover, these authorities absolutely had no consideration for the provisions of the local population, treating them like 2nd class citizens. the british were showing signs of disrespect even to those who cooperated with them. the fact of ignoring

and then the same micron then also said the other day is, well, hey, what we need to set up a special tribunal to put russian aggression on trial. so these are completely meaningless. show to micro have been largely meaningless during the 10 months. if i can continue with shows also said what is part of returning to the us post cold war security agreements. he also said this, which is again, really quite mystifying, given the events that we have. russia must make concessions acceptance quote, that there is no aggression coming from nato, unquote. read it again. there is no aggression coming from nato. i mean, is this a serious person here? because the problem is nato. ok, it's not, you know, you don't wish to wait and just say like wave a magic wand say, but it's ok. it's not evil, it won't hurt you. ok, again, this is a like a fancy that coming from a major european leader in the middle of a conflict in europe is really quite mystifying and actually quite terrifying. go ahead. well, i think at some point in history back a few months ago, who responded to a similar close by saying it'

as micron mobile business unit and harold rhussing retiring on january 18th. rusk and zooming higher and deliveries exceed 20,000 units above the original forecast and also forecast 48,000 deliveries for the fourth quarter and a 36% increase from a year ago. you see the stock up there more than 4%. and thank god it is friday. it's the last one of 2022, and who better to spend it with than the ceo of tgi fridays. he's here to tell us how he thinks the restaurant business will fare in the new year. check the blue chips, dow down 184 points and the claman "clamn countdown" has much more ahead. ♪ if you have diabetes, then getting on the dexcom g6 is the single most important thing you can do. it eliminates painful fingersticks, helps lower a1c, and it's covered by medicare. before dexcom g6, i was frustrated. all of that finger-pricking and all of that pain, my a1c was still stuck. my diabetes was out of control. i was tired. (female announcer) dexcom g6 sends your glucose numbers to your phone or receiver without painful fingersticks. the arrow shows the direc

, mu, reports this week, okay and i think -- let's see, micron reports on the 21st. so why don't you wait and see what micron has to say and then if they say good things, we'll be able to buy more applied materials around here i think we have to wait and see what micron says, though, because they are the big daddy when it comes to that kind of semi myles in florida, myles. >> caller: good evening, and a big beach boy merry christmas boo-yah from southwest florida >> holy cow. >> caller: stock in question, mt bank, are there -- >> very inexpensive bank it's falling apart, and you know what for no particular reason [ buzzer ] located in buffalo, and i'm telling you, josh allen, i have to play against him next week in fantasy, that's not going to be easy i wish the best to jalen hurts and mike in connecticut. >> caller: hey, jimbo, a big holiday merry christmas boo-yah to ya. >> right back at you >> caller: i just got my 24th dividend, and i'm trying to figure out what is wrong with this company >> it's because they do a lot of shipping between here and china, and the r

so they're trying to put a manual micron back in this place. it's almost as though they don't want to piece deal at some balkan nations apparently begin to lose hope and joining the you and start to look for alternative future partners. the block is taking closer notice of its allies in the region with the 1st ever st. i met between the e, u and western balkan states to kick off later this tuesday, r t contributor rachel mars than looks into the political lay out ahead of the of that. so the european union is waiting back into one of the west historical mine fields. this week, nato's war in yugoslavia comes immediately to mind and are holding a summit. the kicks off today between the blocks leadership and the balkan states. now the main purpose of the event is to keep these countries waiting around for the e. you to call them up and make a commitment of membership dangling the carrot. but like someone who sits at home waiting for the phone to ring and hoping that you know, it's their crush asking the mote on a date. finally, while these countri

[laughter] sanjay of micron. sanjay has represented more than two dozen tech and manufacturing companies. you are here today because you are seeing what we are all seeing. american manufacturing is back. [applause] i recently took a trip literally around the world starting in egypt and ending up in guam, and finally coming home. ending with a meeting in indonesia with the g20. countries with many of the largest economies of the world. what was clear in those meetings is the united states is in better position than any other nation to lead the world economy in the years ahead if we keep our focus. there is a strong sense from all the world leaders of the resiliency of the american economy. and we are seeing it here at home with investments like what we are talking about today. together with the help of your elected leaders here today, we have had an extraordinary two years of progress. we passed the american rescue plan, keeping tens of thousands of cops, firefighters, teachers, first responders on the job in all

but president micron also wants to discuss trade. he accuses biden's, us focus, the climate policy of hurting frances economy. a to agree to work closely on energy and climate issues moving forward with or directly is washington correspondent, mikaela cooper is following microns visit to the white house. she has her assess assessment of the leaders meeting, the key signal coming out of him on her. my call heading to the white house for the 1st state visit of the buys and presidency, is that joe biden perceives him as a leader of europe as he put his almost swallowing the a quite clearly. there are very close ties, a to all european capitals, but particularly to the french over the ukraine war here. the symbolism was key that the west remains aligned against russia in its war on ukraine, that vladimir putin should be held accountable. but the overarching theme were economic concerns. emanuel mccoy had heavily criticized to biden in the lead up to this visit, or for his policy of only allowing for u. s. companies producing in the unite

russian leader must commit to ending the war. biden has been meeting with french president emanuel micron at the white house where the pair have been discussing solutions to the conflict and strengthening transatlantic trade relations. emanuel mackerel named joe biden present a united front in the white house war for about the french in u. s. president, striving to appear as not just allies, but old friends. read the bible. why did you president mccaul, for your birth date? visit my room? the biden's have been hosting them across for the 1st white house visit since being elected last year, putting on a strong show of transatlantic unity against the backdrop of russia's invasion of ukraine. both leaders expressing unwavering support for keep with bite and signaling a change in stance towards russian president vladimir putin and prepared to speak with mister boone. if in fact there is an interest in him to sign, he's looking for a way to end the war. he hasn't done as the case in consultation was my friendship, primitive friends. i'll be happy to sit down with food to see what he once has i

but micron apparently doesn't want china and turkey leading the mediation. why do you think that is luke? well, i think is sex personally for the 1st thing, because so you thought, you know, that france was the gold between par excellence. and when turkey became the place where negotiations between russia and am jo, ukraine took place and that there were some results. remember, the brain deal and things i mean, michael felt vexed. first leave it as simple as that. but of course, on his reaction saying that he doesn't want china or, or, or turkey playing the role of the go betweens. between the 2 different are factions generally, between america and europe. on one hand rush on the other end. it's allison and china, india and africa. for it's on the rest of the world. so um he would like to get a role and he says things i mean yesterday, i mean, it was really silly saying that ukraine, that he wasn't sure that ukraine would become a member of nato. i mean, if he thinks and he should think that never should your grand become a member of nato, he can say that, a

so they're trying to put a manual micron back in his place. it's almost as though they don't want to piece deal reports. claim that the press secretary for ukraine's near nancy as a battalion has been traveling across america, visiting a pro ukraine events during his trip damage. because ascii was picture with hollywood actor sean, penn, and u. s. lawmaker on this reported to have visited the state department. his ascii was captured by russian forces after hours of long drawn out surrender at ubs of style, still works in mario pal and released in a prison exchange in september. the report also claimed that he earlier travelled from washington to new york city, where he appeared on stage of the ukrainian cons, which culminated in nationalist chance. well, 2 years ago, because ascii posted multiple images featuring nazi symbols on twitter page, which were like deleted the image you showed me or not the t shirts and his wardrobe a tattoo of a double armed swan. because similar to those warned by german concentration count guards and the swastika

so they're trying to put a manual micron back in his place. it's almost as though they don't want to piece deal clashes have a wraps in the italian city of milan between anti war protesters and a rival demonstration. at least one police officer has reportedly been injured while trying to stop the scuffles. 0100 gathered holding flags and banners with calls to thought the army ukraine and urging an end to anti russian sanction sounds worth. the phobia i counted, demonstration was also held in the italian city in support of ukraine. security forces intervene when pro key demonstrates try to much again to the pro ration protest. the terminal person's ruling conservative party has been accused of insulting the countries health workers by claiming a strike called relate to this month, would help vladimir putin deems a how with comments have been called ludicrous using russia's. lauren ukraine as a justification for real terms. pay cut for nurses in the u. k. as a new low for this government. the public does not believe this kind of rhetoric and wan

ok, let's pick about some are some of those points one by one beginning with the or micron very, and the other, the only on sub gradient be f 7, which is apparently driving the surge in china. and this will sequence to india back in july itself, is it a very deadly sub variant? it doesn't seem to be very different from the regular one micron, very, and remember that china has not seen any level of cases and infections that india did. for example, already the indian population is very well protected to a combination of an only con infection. earlier in the or even after the middle of the year as well as vaccinations. so we, most indians at the stain have some level of hybrid immunity to where the disease with the chinese lack completely. so what could happen in china could be very different. our histories in terms of the disease are very different. are you talking about the vaccinations? i think the figure is about more than 90 percent of the population has at least received 2 shots, but there's only about 27 percent of in the us population that has received a 3rd booster shot. you do

micron is investing $100 billion to build semiconductors in syracuse new york. intel $20 billion doing the same in ohio, ibm is investing $20 billion in poughkeepsie, new york. and these help to strengthen the supply chain in america. i want to be clear. as we build, our allies are building alongside us here. some people here today are customers that are going to buy the chips and some are suppliers, going to help make the chips and all depend on a strong supply chain and that's why we're doing what we're doing in arizona matters around the country and around the world. folks, as we see here in phoenix, the united states is a top destination for companies across the globe looking to make investments because we have a worldclass, highly skilled committed work force, union labor. and more than-- you can clap for that. [applause] >> more than 3,000 union workers, most highly trained and best in the world is helping build this fab, the second fab we built with union labor as well and working with companies, community colleges, technical schools, universities, union-

mister microns focus on russia comes of france. his activities in africa continued to infuriate locals. it's been more than 60 years since former french colonies on the continent gained independence. yet paris continues to intervene militarily their thoughts interventionism has been blamed for the spread love estimates, violence on corruption in those regions. we heard from an african political analyst who said french trips could be tried for their activities in many parts of the world by the same tribunal. that micron is striving to establish for russia and i have one, you got a 21 pm, blaze dock in a white type, you know, just like any kind of not only and i shit and you guys that well that i didn't know the clamps o brown why is it that is my air force gabriel. that knocked out in indian any integrated? yeah, it is all renter's. is that highly creamy? now? i'm there can be pride in this area, but i do know that brows assistant establish? yeah, i don't you a, what is happening when i about the military now, i've been gone on, i'v

welcome back our call of the day is micron. the largest u.s. memory stock, downgraded to hold today from buy at argas they note the challenging environment. no big shock there they say the cut reflects prospects for deep operating losses at that company over the next few quarters. nobody on the desk owns it but let's do it this way, joe. is this a "take this ticker symbol, and substitute almost any in the chip space right now, given what is an expected quote/unquote challenging environment," how about that >> i think it's correct to say it's a challenging environment but, no, i think that first-in, first-out is the case for the semis. i think the semis without question were the first to experience the valuation contraction and the valuation recession. i think there are places within the semis where you have seen the bottom kla corp., on semi, microchip, texas instruments, which i own personally i do believe that you can find tactically opportunities in the semispace. and yes, i acknowledge the overriding environment still remains a challenged o

mister microns focus on russia comes frances activities in africa continue to infuriate locals. it's been more than 60 years since former french colonies on the continent gained independence, yet horace continues to intervene militarily the dots. interventionism has been blamed for increasing islamist violence and corruption in those regions. while we heard from an african political analyst who said french troops could be tried for their activities in many parts of the world by the same tribunal, that mister micron is striving to establish against russia. i need god to bless talking. if i do not try any, not only right yet, and it was that every i didn't know the crowns of brown. why is it that is my giving that not to help in ending in the christy? it is all that highly creamy not there can be pride in december, but i do know that brown and my bill is the highest. you need to get enough to try anything other than i do about what is happening to you in the military. they're not, i've been wrong in their board as far as yeah, right. yeah, i have no options, but ah, all right, it

it doesn't seem to be very different from the regular one micron bed. and remember that china has not seen any level of cases and infections that ended. for example, already the indian population is very well protected to a combination of un only con infection. earlier in the or even after the middle of the year as well as vaccinations. so we, most indians at the stain have some level of hybrid immunity to where the disease with the chinese lack completely. so what could happen in china could be very different. our histories in terms of the disease are very different. are you talking about the vaccinations? i think the figure is about more than 90 percent of the population has at least received 2 shots, but there's only about 27 percent of in the us population that has received a 3rd booster shot. you do not think that that is a cause of concern. that is indeed a cause of concern. so one thing that the government should do is to increase boosted availability. and in fact, optic in the over 60 population, because it's known that the elderly are often mos

this is ge profile. >>> one more thing before we go, keep an eye on micron. reporting results from q1, its fiscal y1 in just a few hours. that stock up about almost 2% this morning as analysts expect earnings and revenue below previous guidance. negative free cash flow from the chip maker for the first time in two years. regardless if you look at the year to date on this, not much worse, not any worse really than amd which is down more than 50% year to date, and nvidia which is down just about as much micron warned last month in investor presentation about pricing pressure, though that's perhaps a little bit unusual for somebody to talk about pricing pressure given the environment we're in but in chips maybe not as much >> yeah, we had a discussion with cramer this morning, john, about sort of the collective action problem that exists in semiproduction right now meaning micron can talk about trying to get these channels to clear but it's kind of hard when some of their very large peers continue to produce >> yeah, the oversupply problem at least in the near t

so, whenever you turn for a manual micron, isn't it? absolutely, but at least finally, we're seeing someone who is willing to listen to russia's needs and something that russia has been saying for decades. and fact vladimir putin has been saying for how many years now that nato needs to stop expanding eastwards. and it's been saying that this was one of the main reasons for this special military operation. but the west didn't want to hear any of it. and we've seen over 30 years how nato has been expand and, and growing, and literally approaching on rushes doorstep. now let's not forget back in 1991 when russia disbanded the war, so pack it expect that the us to follow suit or at the very least not to continue expanding instead. what did we see? we can see the map now, and we see how many countries have been added on and on. and on. over the years, basically encircling russia and vladimir putin said enough is enough. that's why it's so strange when we see statements from the west, when they say that russia was unprovoked, that the specia

we've been microns party and also within mackenzie as a firm. in the latest episode of ortiz going underground option returns, the speaks with professor one jane, who deconstruct the u. s stereotypes about china. you can watch the full version on saturday in the meantime, here's a short preview. we are mindful of the influence, the china is trying to grow around the world. and of course this in the context of the fact that u. s. agencies have already labeled china the number one enemy of the united states . sir, do you think her there's a battle in washington that to be in one by those who see joiner as an enemy rather than as a partner to cooperate with for a more prosperous world? there are some people, of course, are you washington d. c. and the united states same china as a. ready number one aly me or rival, but law official line of washington, d. c, that chinese and most, you know, serious challenger to the u. s. and the u. s. lead in the national honor, in europe and the united states, quite apart from the fact that the saudis, the u. e. t

a lot of companies talked about that the third which is most interesting within the tech world is micron is looking at slowing down their tech node transitions and that's not something you necessarily want to see within technology, the slowdown and naeinnovation, especially when you are dealing with a commoditized product. >> i guess micron, charlie, recently emerged from the pure commod commodity status as a producer of memory chips. it is a stock where it is down by half over the course of this year it looked cheap at the highs because earnings estimates were overinflated the earnings estimates have been cut back it looks cosmetically cheap. where would it bring you in terms of assessing whether there's true value here? >> one of the things i will try to emphasize in 2023 is that there are really good industries and bad industries you can make money trading in a bad industry with bad economics, but long term you can't. the semiconductor industry is not good industry. it is highly capital intensive there's lots of technological ob companies try to produce their own because they think it