Power Lunch - Mega-cap Tech Surges 1/22/26

Episode Date: January 22, 2026

Meta pops after a bullish note from Jefferies. President Trump sues JPMorgan Chase and CEO Jamie Dimon over debanking. And Derek Jeter joins the show to discuss the new sport he is getting into.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

It's another day of gains, not just for stock, but energy as well as a massive storm gets ready to take its best shot. Welcome to Power Lunch, everybody, alongside Kelly. I am Brian. The market may be facing a storm of its own because Mag 7 earnings are about to kick off. Will that be the spark to reignite the trade or is buying big tech, you know, so last year? That's a provocative question. And speaking of tech, we're doing a power check on one of the hottest chip names in the market. Intel has rallied 200% from its 2025 low. It also reports after the bell today and we'll get you ready for those results.

And coming up later, baseball Hall of Famer, entrepreneur, and the global sport surging into the mainstream. Derek Jeter is making a strategic new play. We look forward to talking to him. Absolutely very cool to have the captain. Derek Jeter coming on the show, but that's in a few minutes. Let's start this hour with your money and big tech because there's a big new note out that is sending meta skyward.

Jeffreys, laying it on the line and laying out five reasons you need to think about buying the parent company of Facebook, Instagram, and WhatsApp. Now, those reasons include valuation, as well as a bullish look toward earnings. Meta's had a bit of a rough run lately. It is down five of the last six months. Let's shut up and get more now with the lead author of that note. Jeffrey's tech research analyst Brent Phil. He's got a buy on meta, a $910 price target. And Brent, I'm going to just wildly speculate that the fact that meta has been down five at last six months makes the valuation more attractive to you.

Hey, Brian. Yeah, that's right. I mean, I think there's several factors. So remember at the beginning of last year, everyone hated Google. It was an AI roadkill. They weren't anywhere. And we think the same thing is happening with meta at the beginning of this year being treated that they are nowhere in AI and that all these investments are a waste of money. So we think that there's an analogy, which is last year, if you bought meta on all the concern that all we were going to do is use chat GPT to find everything, that was an amazing opportunity. And Google has gone up, you know, 60 plus percent since that moment. So we think there's a playbook in Internet, which is by the most hated name of the biggest names that aren't going anywhere. And that is meta right now. Secondarily, the fear of all this AI cap-ax that they're going to blow all the money and, not have any return. I think that's silly. I think we still see an incredible platform and the

engagement is off the charts in terms of their ability with advertisers to gain ad dollars. There's an emerging business in enterprise. Jeffries is looking at using some of their enterprise technology that they've developed for consumers with Lama to use for our own organization at some point. So we haven't gone there yet, but I think there's an incredible opportunity. Remember when Amazon launched AWS, everyone was like, wait, what is this? There's an interesting on-ramp with their open-source solution and AI that enterprises can use, not just advertisers or consumers looking for the newest golf club if Taylor-Bade comes out with something. So there's just a bunch of different coal options that we think could go right.

And again, it's the most hated story right now. So great stocks have great controversy. this name has an incredible, incredible controversy going on. And so we could be wrong tactically when they guide that maybe they come out with a really aggressive guide in CapEx and it disappoints, but we use that as a buying opportunity. Brent, just to jump in here, it's Kelly. And I appreciate the contrarian case, obviously. I mean, I'm sure everyone wishes they were in Google now to have experienced these results.

But I can see Meta having an excellent business model with AI, you know, optimizing ad load. Instagram is I talk about the algorithm is better. and better, it's better experience. But it's, what is it, a trillion and a half market cap company? I mean, is it ever going to be four, right? What are the numbers that make this a behemoth rivaling those of an Nvidia and a Google, even a Microsoft? It's much smaller than there.

Can it be very successful and have some of these strategies that you're talking about, but still just not be worth, you know, quite as much? Yeah, I don't think our thesis is based on, hey, this has to be a $4 trillion market cap. But I think what we see is a company with $30 of earn. earnings power and again you can put a you know 25 to 30 multiple on it and you have obviously you know at a peak of 30 times earnings you're at nine hundred dollars a share right stock 645 so I think we're not to your point I'm not expecting this to become Google or what's happened at Microsoft but I think that

there's a second tier where you look at could this theoretically get to that type of earnings power and the answer yes and you have to put a big multiple on it, and the answer is no. And so what's the outcome? It's pretty positive. Well, I tell you what. This is going to sound weird, but that's what I do. A couple times the last few weeks I've been on Amtrak, going from New York to D.C.

And as you walk forward to maybe use the facility or whatever, you're walking by people, and you can see they're all on their phones. And they're all on all of them or on Instagram, all of them on the New York subway, on airplanes, not look at at people's phones, but they have them out. How powerful is Instagram and its possibility to the meta story? Because I feel like it's increasingly Instagram's world, and we're all just kind of living in it or around it. I think it's going to become more powerful in the world of AI.

Look, I'm a big fan of your show, and I watch this morning up from Davos. So imagine this morning it's not just the show of interviewing the CEO of Work, and the number of executives that you have on, Santa Fe, you go through the list. What if there's an immersive experience where I'm able to put on the met of glasses and Andrew Ross Sorkin is doing interviews walking through the audience? We get to smell and kind of feel the environment in Davos. I mean, today we see it from your set. We don't see it in a real immersive experience.

And I think there's no one else better positioned them to create this experience. And I'm not saying like this is going to happen in your term. but can the world in the next three years change where they can create these level of experiences? You're not going to get that at Google. You're not getting that at Amazon. And you're certainly not getting that at Microsoft. And we like all these names for different reasons. But like they have, to your point, this ability with advertisers to engage in the immersive content to engage and keep people on the platform.

I have three young teens. And two of the three are old enough to use these technologies. and they'll say, look, I use Snap to send messages, but I go to Instagram to learn and have these immersive experiences. And I go to TikTok to have a laugh. Yeah. And I really think this immersive experience, what they talk about as teens, and you're seeing that even in the older generation, including me, we're all going and we're getting,

you know, you go five minutes into the platform and you spend an hour. We've all done this. And I'm still doing this. So I look at this and say, three, four, five years from now, what is this going to look like? It's going to be a lot more exciting and what they're doing, the vision of AI is going to be there. Zuckerberg put in the first level of AI. I believe the next level of AI will pay off into this new world that we're talking about. And it's hard to see it right now.

But if he pulls it off and to your point, Brian, that everyone on that train or the plane has this in their hand, it becomes even more immersive. The advertisers go to where the experiences are immersive and where people are at. And I think they have a great opportunity. That would bring it full circle. Is it going to be perfect now? Then it would be meta. You know, we always say should they have dropped the meta. Then that would be the meta play after all these twists and turns.

Brett, thanks. Really appreciate the shares of 5% today. Thanks for making the case. Thank you. I just urge everybody if you haven't read Ready Player 1. You can watch the movie as well. But that's what he's talking about. You know what that?

No, no. It's an amazing book and movie. Check it out. It's exactly what he's talking about. Yes, coming to life. Living in a fantasy world. Where I have so much hair, so skinny. That sounds good to me.

We're going to stay with tech and get to another name that got a bullish call from the street today, which is Alphabet. Upgraded to outperform and a strong buy over at Raymond James. Stock getting about 1% on that. But look at the gains this month. It's had only one negative month in the past 10. MAI Capital Management Chief Market Strategist Chris Grist, Chris Grist, is here now. He is an alphabet shareholder. Contrarian at heart, Chris. So maybe we'll get to more of it. But this one is firmly in the mainstream right now. You're not afraid of that?

I'm a little bit afraid of it, Kelly. I mean, it's had a great run. It's our largest single position, not least of which, because it's up, you know, 60 plus percent over the last year. So I'm not, I don't think it's going to be up another 60 percent. But remember, a year ago, we were talking about all the threats to Google, like search is going to be outmoded by AI. But now, you know, Apple is using Gemini for the new chatbot with Siri. And now Google is ascendant. So in that way, yes, I don't love having a consensus ascendant name. But the future seems so bright that I'm happy to hold it here.

It's unbelievable. You know, now I have people accusing me of being a Google lover. I'm like, I was using Chat Chappitia a week ago and now I'm all in on Gemini. This is how quickly this technology is changing. That brings us to the NVIDIA question. Gemini is powered by Google's own chips. I understand these TPUs, they don't need NVIDIA chips. NVIDIA is doing just fine, but it's kind of been moving sideways.

Still almost a $4.5 trillion market cap name. You're buying it here. Why? I am. And you know me, Kelly. I'm a value guy. And I'm uncomfortable with Mag 7 multiples and Mag 7 consensus appreciation. So it took me to get over the hump to buy NVIDIA.

But the math is just so compelling. And like you said, you know, you can't really. get to the AI toll road without going through NVIDIA. Yeah, Google will have proprietary chips, but most everyone, the market share of chips for NVIDIA is well over 80%. And so what we're seeing here is as long as you're convinced that the AI spending train will keep on going down the track, then you buy this stock because they're the single largest beneficiary of that train. And I'm convinced because the folks funding that train are the best capitalized technology companies in the world. So Microsoft, Amazon, Google. They're funding the AI train. So I'm comfortable that

Google looks expensive through the rearview mirror, but is actually almost as cheap as meta is now, but is growing it almost three times the rate. So that's the MAG7 I would ride for 2026. So finally, then you want to chime in on the meta sort of argument or or case that interest you yet? Yeah, no, no, I think your last guess was exactly right. It's a nice time to buy meta. And med is clearly going to be one of the winners. And it's a nice, cheap valuation.

But the reason I somewhat prefer Nvidia, and by the way, we do own some meta, the reason I prefer Nvidia is because, you know, they are a king of the mountain in AI. You can't get there without them. And so if you believe in AI, that's really the only decision you have to make before you embrace Nvidia, which, by the way, if you look two years down the road, is just about as cheap as matter. All right. Chris, thanks. Really appreciate it today. Chris Cassonty, MAI Capital Management.

Let's get over to Rick Santelli now as we focus in on yields today, with a two-year breaking above 3.6 percent to its highest level since December after the PCE numbers this morning. Keep an eye on this as a proxy for what the Fed's going to do. And Japanese yields are in focus as well, with a 30-year sitting near its highest level since in 1999. Rick Santelli has more from shipping. Chicago. Rick? They're 30 years well up there. They're 40 years astronomically high, but then again,

30 and 40 year trade by appointment. It's the 10 year that's the benchmark not only in Japan, but across the world. That's one of the reasons those long-dated are moving more aggressively because it's a very, very, very thin market. As for the data today, well, let's look at a six-year charter year-over-year PCE Corps. 2.8. It's been there for a while. You see, the right side. The right side of that chart's much higher than the far left side, even though it's come down and therein lies the rub. Inflation is sticky. It's not going up, but it's not going down and it's still above the Fed's target. That really is an ongoing story. Kelly's right. If you look at two weeks of twos and tens, two years have been much more aggressive. Right now,

it's up nearly three basis points. The tenure right now is virtually unchanged. A lot of that is about the Fed, but that chart has something interesting there. You see, were the orange line for briefly past the right center shot above the two year, that was the breakout, the breakout above four and a quarter, whether it was Japan or partially some of the other issues of the day. It was significant. It puts the technical breakout on tens more aggressive, even though twos are still leading the way. And if you look at an August 1st chart, this is key. If you look at the right side there, that is a trading range. Twos really haven't broken out of it yet. Throw the tens on there, and you can see what I mean.

The tens are playing catch-up, but the two still are leading because the Fed is not going to be as aggressive easing all things being equal. Brian, back to you. All right, Rick Santelli, thank you very much. All right, folks, we are just getting started. And coming up, does Trump Trump diamonds? It's not a game. It's the president versus arguably the most powerful person on Wall Street. An eye-popping headline coming from Washington. President Trump suing J.P. Morgan Chase CEO,

Jamie Diamond, for at least $5 billion, alleging he was debanked, effectively cutting off him and his businesses for political reasons. Amon Javis has more from D.C. Amon Javis has more from D.C.A.M. Brian, that's right. This lawsuit sets up a dramatic confrontation between the most powerful man on Wall Street and the most powerful man in the world. In the lawsuit, President Trump alleges J.P. Morgan debanked his companies, for political reasons and that this is part of a wider campaign in the banking sector targeting conservatives for their political views. Now, the suit says that J.P. Morgan debanked the Trump-related companies on February 19th, 2021, shortly after President Trump left office at the end of his first term.

The suit says Trump is, quote, confident that J.P. Morgan's decision came about as a result of political and social motivations and that J.P. Morgan Chase's unsubstantiated, woke beliefs that it needed to distance itself from President Trump and his conservative political views. But the suit does not present any evidence that the debanking decision was made for any political reason. It alleges that J.P. Morgan didn't provide any reason for the debanking, debanking the accounts, but that plaintiffs have subsequently learned, it says, that it was done as the result of political discrimination without saying how they know that. In addition, the suit alleges that J.P. Morgan has placed President Trump's name on a blacklist without specifying what that term means.

The suit says plaintiffs have recently learned that J.P. Morgan Chase at the direction of Diamond has unlawfully and unjustifiably published some or all of their names, including the names of President Trump, the Trump organization with its affiliated entities, and or the Trump family on a blacklist. Now, in a statement, a J.P. Morgan spokesperson said in part, while we regret President Trump has sued us, we believe the suit has no merit. We respect the president's right to sue us and our right to defend ourselves. That's what courts are for. J.P. Morgan Chase does not close accounts for political or religious reasons. We do close accounts because they create legal or regulatory risk for the company. We regret having to do so, but often rules and regulatory expectations

lead us to do so. Now, the suit is seeking, Brian, at least $5 billion in damages. It doesn't come entirely as a surprise, though. Remember, President Trump posted a threat to sue the bank over this exact issue on social media over the weekend. So you'd imagine that they were bracing for this over at JPMorgan headquarters, Brian. Back over to you. Amen, thank you very much. Appreciate that. Let's bring in our banking reporter, Hugh Sun, now, who just spoke to JPMorgan about this lawsuit, among other developments, Hugh, on these reports that B of A and Citigroup may be among those considering offering credit card rates below the president's new 10%. We'll get to that. But first of all, what additional commentary would they have around this morning? Well, I mean, I think Amin hit at the end of his reiterating the J.P. Morgan statement, which is, you know, their eventual argument is going to be, this is not up to us, that there's regulatory expectations. And by the way, if you recall that the Jan 6th event was at the very start of the Biden administration, you know, this is going to be essentially an argument that the regulator, regulatory pressure is forcing us, forcing our hand.

that if we did not do this, that we would hear it from our regulators. But what does that mean about the regulators? That they're acting politically? I mean, if we can go a couple steps through that, I mean, there is that, you know, you could see it through the frame of political pressure. It is, however, cut and dry, if you're JP Morgan, by the way, and they have lawyers who are going to make this argument, which is we don't have a choice that since maybe 10 or 15 years, they've debanked people who have politically sensitive issues,

whether or not, you know, they're... Well, it seems. It seems inherently political. Now, it may not be J.P. Morgan Chase. J.P. Morgan Chase, it sounds like, from your reporting, is putting the blame on regulators, basically saying regulators, and I'm guessing here, speculating, sort of forced them to. But the regulators are political appointees largely, so you could connect the dots. Maybe not to J.B. Morgan.

But it sounds like there is some political element here. Whether or not it's regulators actually telling them to do so, or the anticipation that that would be coming. I think that is the argument that they were making. All right. Quickly, you're supposed to come on and talk about credit cards, but this seems a lot more important. 10% looks forward.

Yeah, so as we know, you know, the president's call or mandate that, you know, 10% credit cards for everybody, you know, we're at the point where basically he's asked for lawmakers to do so. That's not really expected to happen anytime soon. There's legislation that's out there that's been solved. It's unclear if that's ever going to really pass.

So in the meantime, how do you sort of, you know, present an olive branch to the president? You know, B of A specifically has confirmed to me that they are looking at products that essentially address that issue, whether they're 10% for one year or 10% forever. That is unclear. But they're exploring it. They may not do it. Now, JPMorgan, on their other hand, is not doing so. Citigroup is potentially looking at it.

As Bloomberg's reported, I have not confirmed that part. Now, you have to remember, there are cards out there today from B of A that are 0% for 18 months. So... Zero percent intro financing is not quite the same as saying that we're not going to charge you, you know, 23. I would just want underwriting standards. Who do you give a 10% credit card to, right? I mean, it would have to be pretty

straight. Well, Kevin has talked about this idea that Trump cards could be presented for people who are perhaps subprime who deserve credit, but don't get credit today. So an idea could be 10% credit for folks who are on the edge of prime or subprime that would help them. But, you know, when you think about it, it is not

It's not flipping a switch and saying all $100 billion of BFA's loan book turns to 10%. Of course. Yeah, but you said they call them Trump cards? Is that what they say? Well, that has its idea. That has its idea. I see. Hugh, thanks very much.

We appreciate it today. Hugh, a lot going on there. But coming up, we are not done here. The trap doors that may be lurking in today's market. What you can do now to guard against any potential downturn? Welcome back to Power Lunch. Time now for the market navigator. geopolitical fears have caused a lot of volatility in the market recently, but our next guest has some thoughts on how to protect yourself.

He says it all starts with watching out for those trap doors in the markets. Join us to explain that thesis is Todd Gordon, founder of Inside Edge Capital. Todd, we have seen a nice bounce back off of some of the geopolitical lows in the last week or so, but you're not as convinced that that at least run has legs. Dom, I'm probably the first guest that come on market navigator say, I hope I lose money on this trade. It's a hedge. It's a protection. We can go through the particulars of it. But I think it's important to remind yourselves, like, where have we been? Where are we currently on the charts in the context of the crazy headlines, geopolitical and domestic political headlines that are just hitting us every day?

Dom, do you know we're unchanged in the NASDAQ since October of 25? We're in just massive range. The market doesn't know which way to go. Massive rotation out of the U.S. into particular areas of technology. We're going overseas. Like, it's all over the place. So I wanted to put an option hedge on to protect in case the headline risk overcomes

and we break down the lower consolidation. And where exactly are these so-called trap doors? We're showing a chart right now, but why these levels and why do you think that they could perhaps be ones where you can't hold them? Right. So it's just it's kind of chipping away at the prior low. Just technical analysis 101.

If you're looking at the SPY, the S&P 500 tracking stock, Trapdoor 1 is about $679 and then $6.71 below. But what I did is I focused in the NASDAQ, the Q's. Those trap doors are simpler. They're 610 and 600. If we break down through there, probably going to go down, break the 20-day, the 50-day moving average. I'm afraid that if things get bad,

we might get down to the 200-day moving average, which is about 566. So what I did, Dom, is I went out to the March options. I took only 5% of the cash that we have in this fast money, active account, and I bought a $595, 565 put debit spreads. It's a $30 spread, paid about $6.5. It's $30 minus $6.5 is your max profit. It's about a $4 to 1 reward-to-risk ratio. I don't think we're going to need it. I think we break higher, but with so much headline risk, why not pay for the insurance? Well, it's still relatively cheap. buy the $5.95 put and sell the $5.65 to help cheaping it up. Thank you very much, Todd Gordon, for that. We'll talk to you soon.

Kelly, Brian, I'll send things back over to you guys. All right, Dom, thank you very much. Coming up, folks, you have no doubt seen the forecast, but up next, we'll get more on the real money impact from this coming monster storm. Stick around. All right, welcome back. If you were long natural gas a week ago, give yourself a big pat on the back because gas has been on fire on pace for its best week ever. up over 60%. And yes, this coming storm is a big deal. Temperatures crashing around America, and that could temporarily cut off about 80 billion cubic feet of natural gas production. Another big reason, though, for the move up is what Citigroup calls a multi-sigma move in positioning.

Basically, the moving gas so sharp that anybody who was short natural gas is getting blown out and having to cover sending prices higher. Let's talk more about that and the economic impact of what is coming. Evan Gold is executive VP at Planetilics. There are weather impact research firm. Companies hire them to gauge the impact of the weather. And Evan, when I hear that Nashville or Memphis may have a foot or a foot and a half of snow, I'm thinking there's a giant economic story here as well. There is. Good to be back with you, Brian. Yeah. And it's not just the snow. It is also the ice, right? And the cold temperatures behind it, these impacts from the storm in the, in the, in the, the South Central and the Southeast are going to be significant, not to mention the Northeast,

and as you mentioned, the cold in the Midwest. This is a very, very large consumer impacting event. So what do you do about it, Evan? I mean, like, this is the thing. And do you know how many people when we're talking when this comes up, they go, yeah, they're going to be wrong. What do you tell them? You got to prepare now, right? I mean, the reality is, you know, whether you get six inches, snow, nine inches, like, you know, it's, this is a well-forecasted event, right, in terms of the overall geography that's going to be impacted. And Kelly, I will tell you, right, the economic impact has already begun, right? All of those need-based purchasing that consumers are thinking about to prepare for this event, prepare staying inside for several days. Ice melt and heaters

and boots are up, you know, up to triple digits in the South Central and the projected impacted areas, even higher when you get down to a local level. So the consumers are already responding and reacting, and the retailers are ready with the goods on the shelves to meet that demand. And we're showing what, and listen, a lot of our viewers and listeners, they know this, right? People buy snow shovels, my case, they're going to buy like a sled, things like that. But I did not know that they bought boots, and your data shows that sales of boots. We did that for the last store. You did. You're in that graphic. I couldn't get the right size on Amazon. I was too late. Well, Evan, there you go. I mean, how big of a deal is footwork?

It's a big one, right? I mean, we buy two need, right? We buy at the point of need, and it's not just those categories that we talked about. It's everything from, you know, eggs and milk and chili and canned goods and all of those items. If we're going to be stuck inside for several days, right, we need to be prepared, you know, for those activities. Yeah, but I think what we're also concerned about, we always end up paying more, getting less. And no one wants to go to the grocery. This is what I'm struggling with right now.

I'm like, do I go and stock up on everything? Oh, I'm sure no one will be there. You know, when everyone else is doing it, do I wait a few days, but then what if everybody else goes? Do I wait just the whole thing out and then, yeah, I feel decision paralysis. Well, look, I think the point for the retailers is to be prepared. They have been planning about this. Like I said, this has been a well-forecasted event. So the supply chain have been in motion for quite some time.

There's obviously winners and losers. You've got some of those storm impacted companies there on the screen based on the type of business. Some are going to see a lift in advance of the event. Certainly during the event, there's going to be a precipitive drop in traffic for most of these folks. And then afterwards, you're right. You're going to get folks to come back to replenish or to get those items that they didn't get, you know, in advance of the storm. You talk about free, should we expect widespread power outages, Evan? Is that part of your planning?

I think so. You know, with the widespread nature of the projected ice, particularly in the south, this has the potential to have several hundred thousand or more power. outages. And keep in mind, right, for those areas in the South that are going to get the ice, it's also going to be really, really cold in the days following. So it's not going to have an opportunity to melt. So that's going to compound some of the impacts. This has the potential to be a very significant and costly storm. It's hard to get a last minute generator. That's the only thing. You can get, you know, the gas powered or maybe a hybrid one, but you can't do like the whole house, Nat Gas one. I think on this short notice, unfortunately. A little late for that.

A little late. Yeah. You can come to my house, though. Evan, we did that, but we had a whole, the whole neighborhood had their laptops plugged in. They were working off the porch. The last big power out of five years ago. You do what you can, right. Exactly. It's kind of fun. Evan, thanks very much. Good to see you. Good to see you as well.

Evan Goldwood, Planolitics. Let's get over to Pippa Stevens now for the CNBC News Update. Pippa. Hey, Kelly. Vice President J.D. Vance is in Minneapolis this afternoon as he's scheduled to meet with federal agents and members of the community. Earlier today, Vance said his intention was to turn down the chaos and project comm amid widespread. protests over ICE activity. He said the way to do that was to, quote, stop fighting immigration enforcement and accept that we have to have a border in this country. According to analysis by the Washington Post, the U.S. is continuing a multi-year trend of falling homicide rates and other crimes

nationwide. Rates of aggravated assault and burglary hit their lowest point last year since the pandemic began in 2020. And homicides have dropped by about 38 percent since 2020 and 52 of the largest cities, with many of those cities reporting the lowest murder rates in decades. And the CEO of United Health Group pledged to Congress today that the company would rebate all profits made from the Affordable Care Act exchanges in 2006 in order to make up for premium tax credits that have expired. A company spokesperson says they are working with the Trump administration on details for the rebates.

Kelly? All right, Pippa, thank you very much. Pippa Stevens. All right, coming up, the Intel on Intel. That stock on track for its best month in 38 years. Wow. Is it too late for you to buy it? We'll talk about it next.

Another good day for the markets. Dow up nearly 1%. But right now it is time for a power check. And today we're focusing in on two tech titans that are getting ready to report their results. It's Intel and Apple. Now, they've really been moving in opposite directions just the last couple of months. Intel stock up 50% in a couple of months. Apple, the worst performing Mag 7 stocks so far this year, down about 8%.

Obviously, long term, very different story. Apple's made you a lot of money. Michael Landberg is the chief investment officer at Landsberg Bennett Private Wealth to break down what he is expecting for these two stocks heading into the print. Michael, welcome. Good to have you on. Glad to be here. I know you and your wife have just amazing choices in show, so thank you very much.

Intel reporting their numbers tonight. I mean, this stock's, what, doubled in a couple of months? Why? What's up? I think part of it's the excitement of what's going on with the investment. Nvidia, U.S. government, trying to get semiconductor foundry back in the U.S. Obviously, you know, Taiwan semi, 60% on the market. We don't have a lot of stuff being made here, and I think that's kind of the push. So I think that's hopeful.

I think we're all hopeful they can actually deliver some earnings at some point. And it's more importantly, can they deliver news at, like, like, like, as you know, hope is not a strategy. It's not. And I'm looking at that stock chart. I'm thinking, Kelly, there's a lot of hope built into that chart. Looking over the edge of that mountain there. There's a lot. So I think what's going to happen is if they can deliver some good news on not necessarily earnings.

They've been losing a billion dollars a quarter in foundry for a while. I think it's going to be a quantitative story, more of our qualitative story, excuse me, is, hey, do they get some new orders? Do they have discussions with Apple? Can they get something besides Nvidia to be able to look at that? Because obviously, Nvidia has to look at diversifying their foundry use because they can't. because they can't rely on just a couple big ones that are over in South Korea. So would you say you're cautious on the stock?

Yeah, I would be. I think it's, if you have good news, I think you could probably buy the stock. Okay. I think if it's bad news, I think the stock is going to fall. Because obviously, it's 150% up in 12 months and 50% up since. So you're going to wait for the report. I would wait. It's not a name that we own now.

I'd like to see some more stuff. I like Taiwan semi-I-own because that's the juggernaut. That's the 800-pound gorilla. Tough to not own that. Yeah. But I'm hoping Intel can be a player. We'd like to own U.S. companies. Well, speaking of which, what about Apple?

They report next Thursday after the bell. Eight-week losing streak is on. What do you do? Apple's a little different. I mean, Apple, we looked at it. A couple of years ago, 2% earnings growth. Last year, 6%. I think this year you're going to see probably double digits.

And part of it's the iPhone's, the iPhone 17 is hard to get. I mean, we're looking at probably 17% growth in the iPhone 17. Pro Max is hard to get. I try to buy it from my daughter three different times. You said the iPhone 17 is literally hard to get? I went to the Fifth Avenue store. I went to Naples.

We were talking to CJ Muse last hour about the memory chip problem. Could this already be impacting their supply chain? I don't know if it's out or just demand. You know, the pro max is the bigger one. So I've got, you know, five people in my house, two have maxes, two have pros. And my daughter has the 15. She's still upset about that because we can't get that. She's the most, you know, tech savvy consumer.

And she's like, how come I can't get the phone? I've been in the three stores. Wow. And it's just hard to get. And it's the highest margin phone. That's a positive. should be going up, right? If you can't get them and there's pent up demand, but instead they're going the other way. Well, I think part of that is I think there's a, it seems to be the only mag seven stock that's actually

have earnings growth right now. Everybody else is decelerating. That's why I think Apple's an interesting story here, because you're getting growth the economy. But why is it, to Kelly's point, why is it being sold then? It's down, you said eight weeks in a row? I think part of it's because everybody's made a lot of money, but also it's a source of capital. It's 7, 8% of the S&P. If you need some money to pull off the table, you've got a big profit. So I think that's more of the issue. Well, if that's right, something to think about. Michael, thanks so much. We appreciate it.

Michael Landsberg, Chief Investment Officer at Landsberg, Bennett, Private Wealth. Coming up, baseball legend, Derek Jeter. How about that? What an act to come in front of. He joins us live to talk about one of the fastest growing sports in America. Stay tuned. All right, we've got a fun one for you today. Markets are up.

Let's have a little fun, right? Paddle is one of the hottest sports in America. Basically, it's a hybrid between tennis, pickleball, racquetball, and more, and it's soaring growing from just 20 lonely courts in America a decade ago to more than 400 today. And if you want the best, you play at Reserve Paddle. They've got five clubs in New York and Florida. Their big pro tourney, the Reserve Cup, kicks off today in Miami. And the sport is enticing in some people who were pretty good at other sports. Joining us now is Reserve Battle founder and CEO Wayne Boych and a five-time world champion and

MLB Hall of Famer in the game of baseball. His name is Derek Jeter. They call him the captain, and he is one of the captains at the paddle teams at the tournament, matched up against none other than Jimmy Butler, who is captaining the other team. Derek and Wayne, good to have you on the program. Wayne, good to see you again. Just getting in bigger and bigger names, but we're CNBC, Wayne, corporate money. How big, you've got Aston Martin, you've got Richard Miele, you've got some big time sponsors coming in. How much corporate money Is your sport, your clubs, attracting? All right, good to be on, Brian.

Good to see you again. Hello, Kelly. Thanks for having us. Yes, it is in three short years since we started the company. It's gone from, you know, very niche. And now in our third year Reserve Cup, we have a lot of great sponsors and a lot more that are inquiring. And I believe, going to come in very, very quickly. So we're anchored at Reserve Cup, Miami with UBS, Hard Rock Bet.

Aston Martin, as you said, three or four big development companies, including Discovery Land Company, Moncao Beach Club, Sierra Blanca Estates. And, you know, the list is continuing to grow. And it's really a testament to the sport in what we're doing at Reserve. I think they see value in paddle in general. And then secondarily with what we're doing at Reserve and with Reserve Cup, making it more of a lifestyle event, not just about paddle, is pretty exciting. And it makes us unique. We're not the tour. We're not the main tour. And we kind of stand on our own on an island.

The players love it. And a lot of people, you know, really, really want access to it now. So it's great. You're actually on an island. The MacArthur Causeway. You're literally figuratively and literally on an island. And I wonder how much that could be a real estate play. We'll get to that in a moment, Wayne.

Derek Cheater, I understand you were pretty good at a different sport. What is it makes you attractive? to this game. There's a lot of competitors out there for your time. Derek Cheater's attention. Derek Cheater's brand. What makes this enticing? You know, it's a good question.

To be quite honestly, I didn't know much about paddle at all. I've known Wayne for years, and I think Wayne was probably about four years ago. You know, he brought me on and started talking to me about paddle, and I had never even really heard of the sport, but then come to find out it's the fastest growing sport in the world. And it's starting to grow here in the U.S. And it's growing in the U.S. Because all the great work that Wayne's doing. So I'd be lying to you if I said I was an expert at the sport.

I believe in Wayne. And, you know, he's been a tremendous businessman. And, you know, this is not only a business for him. I think you look at startup companies and we'll sort of call us a startup company for Wayne. But I think what makes them successful, what makes startup companies successful, obviously is the product. But more importantly, the passion. And when I first spoke to Wayne about he's so passionate. passionate about paddle and I'm just happy to help them out as much as I can. I don't know how much

I can help them, but I'll try. I think you have the power to do a lot of things. Very quickly, Wayne, again, the island, you got five of these clubs in New York City, a couple in Miami. How much of this is, if any, a real estate play? Can you use that as sort of the nucleus of a larger development around this? Because I'm looking at your locations and I'm thinking, these are ripe for development. I don't know. Am I getting somewhere? Well, listen, I think you've been listening into some of our meetings at the reserve headquarters, but yes. Never doubt our power here at CNBC, Wayne. Come on. I'm used to hanging out with powerful people like the other gentleman in this interview.

But yes, I think part of the play here for sure is that whether it's on our existing sites or future sites, we have one identified that we'll be announcing shortly that effectively we'll be building out reserve paddle wellness and a reserve residences. And we think that's kind of going to be a calling card for us as we grow the brand because you're right, you're right. You have a community at reserve that is so active in everything we're doing, whether it's going to Reserve Cups in Miami or Marbea like we did last year, playing our pro-em events all over the country, which has quickly become a big part of our business,

that if we can find the right real estate to develop on, And certainly we could have reserve as more of a real estate play coupled with the paddle and the wellness that we have. So, yes, we are looking at that very closely. And we think over time we will build real estate into the portfolio. All right. I'm switch quickly gears to baseball game. You know something about Mr. Jeter because you don't have to share this, although, you know, it's just between us. If you'd like to, I don't know what your largest contract ever was.

Maybe you'd like to tell us or we'll use the Google machine. Now we're seeing four-year deals. Be careful with the Google machine. Yeah. It overstates everything. I found that out as well myself. Four years, 240 million for a player that I haven't heard much about, Tucker, going to the Dodgers. Does baseball need a salary cap?

No, that's why I'm using this platform right here to announce I'm coming back. You actually probably could go back and play college ball because they don't seem to care about that anymore. more? No, I tell you what, look, baseball as a business, as a sport, is in a really good place. And I think it's like any sport, any other business. If there's someone out there that's willing to pay you for your services, all the better. And, you know, Tucker is a great player. And yeah, there's a lot of money being thrown around, but it just goes to show you the state of the business. You look at the World Series last year, one of the most exciting World Series we've seen in a while. The year before that, it was the Yankees and the Dodgers. So it seems like

baseball as a sport has a lot of momentum moving forward, and you just hope that the CBA, which expires after next season, it can come to some terms and there's no work stoppage. Well, do you think there will be a lockout? I don't know. If I did know, then, you know, I'd have a lot more money than I do today. But I'm not sure. I hope both sides could figure it out because, like I said, the sport continues to grow. There's more viewers, more people watch the world. Series and any other World Series in a long time. And you want to build on that momentum. But, you know, I really hope not. How much, how quickly? How much would a 21-year-old Derek Cheater

signed for right now? What could you command in the market? Billion dollars? A lot. 21? 21, not much. Not much. I was struggling to stay on the team at 21, maybe a few years later. Wow. That's a encouraging reminder. A billion. He could be a billion dollar player. When did you win your first World Series? that you were struggling at 21. That was 22, Wayne. Oh, tough, tough, tough, tough, tough years. Derek and Wayne, somehow you guys are both making it.

Sorry, one other thing, one other thing, we want to give a shout out to our man, Jimmy Butler, our other captain, he had a tough, tough go a couple nights ago. He'll be back stronger and better. We love you, Jimmy. Wayne and Derek, guys, really appreciate it. Here's Jimmy. Thank you guys. Appreciate it.

Back right after that. wrap it up with a brand new segment. We're calling Trending Ticker, the top names you're searching for on CBC.com. We've got to talk Sandisk. In our first one, it's doubled in value alone this month. It's up, Kelly, 1,000% since July. If you'd put 10 grand into Sandisk, when an IPO, you'd have $110,000 right now. Trending Ticker.

I love the graphic look. I love that graphic. Let's show that again, Adrian. That looks really good. Speaking of trending tickers, Intel reports after the bell today, going to want to keep a very close eye on that. Can they meet the hype? That chart looks similar to Sandisk last week.

I'm hosting Squawk Box for some reason tomorrow morning. Good luck. I'll see you then. Yeah. Closing bells for us next.