applies a lot of technology to the device industry and it's coming back from its covid low >> shannon >> reits, much more attractive >> all righty. and josh brown >> sahara. really like this name. >> i'll see you on "closing bell." for now, "the exchange" begins next ♪ ♪ >> thank you very much, scott. welcome to "the exchange." i'm dominic chu in for kelly evans. here's what's ahead on the show. today's key inflation data still ahead of the 2% mark, but that's not stopping our next guest from playing offense. what he's doing in a more nontraditional way and from the housing shortage to on shoring to america's aging demographic, there's a reit trade to take advantage of all that we have the names and the one trend our next guest says is especially bullish in that sector

and in it for the long game. missing on revenue, sales down year over year for titleist. that ceo joins us live to talk about golf demand, liv versus pga tour, and what it will take to take the sport to the next level. we begin with a check on the markets right now. the dow is trying to climb back towards the unchanged level. the s&p currently sitting at 5,082, about a quarter of 1% and the nasdaq, 16,025 the last trade there. we have to check what's happening with bitcoin prices right now, up about 1.5%, off the session highs today, north of $61,000 you remember credit touched the $64,000 mark before backing off. we'll keep an eye on those bitcoin prices and the consumer trade, better than expected earnings reports there the likes of best buy.

birkenstock was more mixed, but you can see the move higher in celsius. there's some chatter right now that internet message boards are picking up on that stock and perhaps a bit of shortage is contributing to the upside in celsius with their earnings report this morning. the latest data shows the fed's inflation battle, while moving in the right direction, is not quite over. core pce, the fed's preferred gauge of inflation, rose 0.4% in january. and sup roughly just about 2.8% from a year ago. headline pce rose 0.3%, and up about 2.4% year over year. both by the way, were in line with economist expectations. but personal incomes jumped 1% last month that was well above forecasts. so will this change the fed's easing timeline? joining me now is james bryson, and our own economics reporter steve liesman is here, as well

thank you both for being here. steve, as i customarily do, i'll start with you for the bigger picture. how important was this pce read to the overall picture for the fed and rates? >> well, it's something that they have already incorporated some of the markets already incorporated it. it was spot-on in terms of the economists taking the cpi, coming up with a good estimate on the pce, and it came in as expected, which was higher than expected, and it's a reason why the fed is being less aggressive about the idea of cutting interest rates at the same time, it's a number that many people think is a bit of an anomaly relative to the trend of inflation coming down i was very glad to see that jay had this call of may rate cuts, which was my call, and i know he think there is's more risk around it. but look, if you get it back on track for a couple more months

before the may meeting, i don't think it's out of the question if you treat this and think about this as more of an anomaly than a trend, you can think that maybe some time late spring, early summer the fed could cut rates. >> it's good thing we have the horse's mouth to talk about that right now with that in mind, jay, because steve pointed out the expectations that you have, it might be good for us for the record to hear just what the expectation is from you for those rate cuts, if and when they happen and if the data that came out this morning really did anything to change it, even though we know it was bang in line with expectations >> yeah. so dom, i guess what i would say is our official forecast, which we did earlier this month, was looking for them to go into 25 basis points on may 1st. that was before the cpi print came out, which is hotter than expected as steve pointed out, we're still sitting at may at this

point. i think the risks are skewed towards jos june at this point we'll have two more pce prints between now and then, two more employment points, so we'll see what the data say going forward. so the risks were skewed in that direction. in terms of today, i don't think it did anything moving that much in terms of today. we knew today was going to be a little hot in terms of pce, and it hasn't changed our thinking that much. >> there is a consensus about multiple rate cuts throughout the course of the year, and most people are tilting toward that cut of may-to-july time frame. how many do you think happen in total? some people are saying 100 to 125 basis points in 25-basis point increments that's four to five. where do you stand >> yeah. so, again, if i look at our official forecast, we're at 125. i think the risk is skewed a little lower than that, maybe

100. going 25 basis points at a clip. to go 50, you really have to see the economy being in trouble that's not what we're seeing at this point so we see a modest pace of easing largely because as inflation comes down, just to keep the stance of monetary policy the same in terms of the real rate of interest, the fed needs to be cutting. so if inflation is slowly receding from now, we think a slow pace of rate cuts going forward is probably the right look >> steve, i've talked to, and we both know, we all talked to a lot of market participants out there. one of the interesting conversations i've had is this idea of if it ain't broke, why fix it in reference to this idea that the jobs market is still doing okay gdp growth is being gradually estimated higher in coming months why would you need to think about this expect taegs of cutting rates, is it important

to have rate cuts as part of the future for the economy >> yeah, i think there is definitely a gathering idea around that notion that hey, maybe rates are in the right base when you think about a risk management idea, that the idea maybe the fed needs to prepare a little bit for what's coming down the pike, that -- and unless you change your view of what the neutral rate is, it's hard to imagine that the economy meets the same kind of restrictive funds rate at this level of inflation as it did at the prior level of inflation there's a lot to be said for at least a tweak here i like the way jay put it. i'm a little more, i guess, hawkish in the regard. i think there's three coming this year with an option on a fourth in december i think jay is spot on, that it's going to take much more weakness to get the fed to do 50 i do think given the lags in monetary policy, there's a

reason for the fed to act somewhat preemptively. i think that powell has it in his head that once they start, they kind of can't stop. i forget who it was, maybe it was -- i believe it was jefferson, the vice chair of the fed, who went back and gave us the 1995 analogy, one where the fed did three cuts over like a six-month period or something like that. they waited a very long time before doing anything. the idea of tweaking the policy, providing a little bit of relief to the economy but not a whole lot, is something that i think is a model the fed could think about. >> jay, what in your mind is -- because it's all assumptions driven, what in your mind is going to be that more neutral rate, longer term for the fed funds, a market overall, one that keeps things in that goldilocks scenario? >> yeah. so, you know, if you're looking at a 2% inflation target, which

they obviously are, and a real rate of growth in the economy, let's call it 2% so then you're looking at a probably neutral policy rate, somewhere around 3.5 to 4% and so where we are now, we're looking at -- let's call it maybe 125, 150 basis points. what time period that is if the economy continues to slow at a gradual pace, steve points out maybe you bring it down 75 basis points, pause and see how things are going you get a lot of rate cuts, and i think the economy has to be in a lot of trouble and we're just not seeing that right now. >> steve, last word to you here. >> we're going to have a couple fed folks on tomorrow. we have barken on from richmond and ghoulsbee on from chicago. but on this show at 1:00, we'll have jeremy stein on, the former

fed governor, and widely regarded professor who is delivering a speech tomorrow at the chicago boost school monetary policy conference about just what we're talking about, the neutral rate i don't know, dom, if you can be more excited than i am, but that's going to be a very important speech he's delivering and a conversation we're having about what is the bottom line the fed needs to be aiming for >> you, me, and jay are going to be nerding out 24 hours from now listening to those comments. jay, thank you so much steve, thank you very much we'll look forward to all that fed speak coming up tomorrow while markets are focused on the timing of the rate cuts hypothetically, our next guest says he's watching the two-year treasury yield, currently at 4.6% he's playing offense with historically defensive areas of the market so joining me now is john mowry, chief investment officer at mfg

investments u. thank you very much for being here. things are very much building and coalescing around this what does that do for the markets overall in equities specifically >> well, i think the key message when i look at the most recent data is disinflation is continuing this has been going on now for several quarters in a row. so the trend is disinflation i think that the two-year bond yield is a very important barometer for where the fed is going with cuts. if you go back to 1985 and you look at the spread between the two-year bond yield, which is set by the market, and the fed funds rate, which is set by the spread, that spread is in the 95 percentile so the two-year bond yield is lower by roughly 100 basis points than the fed funds. that's important because they

need the fed to cut. every time you have periods where the two-year bond yield sits below that fed funds rate, that is the building pressure for the fed to cut so when you look at that data historically, you've got evidence that at least 100 basis points needs to come out and the two-year bond yield will fluctuate, and the continued inflation reports we see coming out. inflation, you know, has a large portion tied to shelter, roughly 1/3 of the cpi that basket is weighted towards multi -- skuexcuse me, housing, single family housing. the reason that's important, dom, is that single family housing actually has been somewhat stickier than folks would have expected because of higher rates so ironically, higher rates have created more of an inflationary dynamic in single family housing than folks would have anticipated a year and a half ago. >> there's an argument to be

made, if you lower rates, the housing market would unlock there. let's talk about with that outlook, what exactly is the place to be? where do you want to go? what goes on the shopping list when it comes to places to stake a view on that environment with rates? >> well, so i think that, you know, predicting exactly when the fed is going to cut can sometimes cause investors to miss the opportunities in front of them. when i look at the most significant valuation dislocations in the market, i see these in the yield sensitive areas. it's in real estate, publicly traded reits, it's in banking stocks, utilitying for example, utilities have their biggest yield premium to the s&p 500 going back to 2003 and that's rationale, because why wow you would sit there with higher yielding stocks when you can clip coupons and have a growth trend sparked by ai,

nvidia, and the semiconductor space. but the one cautionary piece of information i would share is that the stocks or the semi broader index, is at an all-time high valuation it's powered by earnings growth. but if there is a slow dourn, that is vulnerable the lower beta areas are big-time on sale what i would comment about some of these areas, there have been multiple reasons why these have gotten cheaper the banks got cheap in march because of a liability crisis, not an asset crisis. what i mean by that is that the dislocation occurred because of higher rates, and that caused issues on the balance sheets but it wasn't asset quality deterioration like we saw in the gfc. people were overpaying for those areas at the end of '22 anticipating the recession in 2023

so i think those areas are the most discounted. i think they offer a lot of upside opportunity, and you get to clip growing coupon it is you move into these areas. that's an interesting way for investors to add additional income and appreciation to their portfolio. >> john mowry with nfj investments, thank you very much we'll see you stoon, sir >> thank you january's pending home sales were out this morning, and it was a big miss diana joins us with the details there. this is the residential side of things, but in homes opposed to reits. >> that's right. not only was it a december, but december's read was revised lower. pending sales in january dropped 35% month to month the street was looking for a 2% gain sales down nearly 9% year over year this is based on signed contracts, so people out shopping in january and making the deal

the 30-year fixed starting down from the 8% high in october, but off the lows of december they rose a little bit in january before crossing 7% in february >> sales rose month to month in the northeast and west but fell in the midwest and south sales down across the nation year over year there was no mention in this report of inventory, but this morning, new listings rose 13% during the four weeks ending february 25th, compared with the same period a year ago that's the biggest increase in nearly three years but pending sales for that period dropped 8%. so there's your mortgage rate effect, dom. >> diana, there's been some anecdotal reporting done with regard to certain of those so-called past and current hot real estate markets.

places like arizona. places like florida, where there are stories about an uptick in the number of listings that people are starting to see that's not official data, but real estate brokers in the area. do you think there's an unlocking for the spring season coming that people are ready to put their houses on the market if mortgage rates cooperate. >> there's a slight unlocking, because we're coming up on march. that's the spring market when people list their homes for sale we see that seasonally every year we still need a lot more homes on the market, and we're not going to see the imagery uptick that we really need. we've seen this incross, but when you're coming off these record low inventory levels, you have to give more than that to have a robust selling season and a lot of sellers are saying, with mortgage rates in the 7 pe% range, it's going to be harder to get a buyer so am i going to have to get

incentives or on the other side, do i want to sell my house whenn 7% is out there and i got 2% from a couple years ago. but it is the spring, so you will see some houses come on the market everywhere. >> you z if you're not in love with your house, you're in love with your mortgage coming up, morgan stanley is getting more bullish in one area of real estate and no, it's not tied to artificial intelligence. the sector and their top picks, next and titleist's part company, coming off the best year since the start of the pandemic. we have a rare enter vow with the ceo coming up. "the exchange" is back after this

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welcome back to "the exchange." while the office sector has been hit hard, our next guest says to keep in mind that's only a small part of the real estate trust sector she's here with the trends and the trades and where she is seeing some of the biggest upside potential joining me now is laurel dirky, the head of global list of real estate from morgan stanley

there's a lotreal estate, but let's talk about where the opportunities are. we just spent a whole segment talking about rates and their impact on places like residential. what does it mean for the overall commercial side of things >> obviously, interest rates are going to have a significant impact on all of real estate, commercial and residential what i'm seeing is that the interest rate environment volatility in the interest rate environment has really been impacting the pricing of these stocks but when you look at the fundamentals, the fundamentals in a lot of the sectors that i'm investing in, remain very strong that's where i'm excited interest rates i can not control, and i think there is a growing consensus around the fact that we absolutely will see rate cuts at the latter half of this year. the fundamentals is what i'm

focused on, and where i believe we can differentiate and really add -- >> outside of your primary residence, people are maybe a little bit scared to go into real estate, whether at the industrial type, commercial level, warehouse where is the opportunity right now, given the fact that rates are a little uncertain >> the underlying composition of the listed real estate universe is a lot larger than just the traditional that you would think of it's not just office it's not just multifamily. so what i'm excited about is in system of the alternative sectors. the alternative sectors are inclusive of data centers and health care real estate, and cell towers, and cell storage. some of these areas of real estate that have secular drivers of demand. >> what's interesting about that is they have already been some of the outperformers so far when it comes to real estate. you're talking about office

complexes that are owned by reits that specialize in laboratory and factory type facilities for health care you're talking about senior living where exactly, what kind of stocks are there picks you like more than others? >> i think focusing specifically on health care, the seniors housing sector is an area that has a significant amount of demand that is manifesting itself as we speak when you take a step back and think about aging demographics within this country, baby boomers right now are aged between 60 and 78. they are approaching the prime age to move into seniors housing facilities so a name that really plays into this aiming demographic theme is well tower, ticker welr. >> laurel, just hold that thought, that was our mystery chart if you're wondering. we showed you that mystery chart. by the way, the senior housing thing is something we talk about

quite a bit trend wise you mentioned that timeline. is that going to cause an even bigger jump in your mind over the next few years in the stock values >> absolutely, absolutely. when you think about the aging demographic, over the last decade, the 80 plus year-old age cohort grew at 2.5%. look at the next decade. it's growing at about 4.5% that's 8 million more people so that demand is continuing to grow 2027 is a year that is really going to see the most amount of explosive growth we're at a point in time when new supply into the seniors housing space is actually decelerating so we have the supply/demand imbalance that all real estate investors love what that means is that you will see growth and you will see continued cash flow appreciation and value appreciation

>> there's also on that same health care aging demographic side, there are real estate investment trusts that specialize in laboratory type facilities owning those commercial type facilities is health care, besides just seniors, going to be something drug and pharmaceutical companies and the facilities they need? >> so we do have life sciences, which do own labs as part of the real estate universe the coincident point in time, what you are seeing is that lab space had a significant oversupply and so there is a bit of a different dynamic going on the underlying need obviously for lab and life science space is going to continue to grow over the long-term, i think is a favorable area to be in. but at the current time is not something that i'm super excited about. however, when you look, for example, in the skilled nursing area, rehab area, which is more

short-term stays for seniors, that's an area that i think is going to continue to have really robust fundamentals at its back, and have that supply demands imbalance. >> because we have an expert like you here, i want to talk a little about residential housing, the housing shortage in america right now. is there anything market wise that can happen where people can position themselves for an outcome one way or the other, given the housing shortage in america? >> housing shortages and affordability is a problem we are at multidecade lows when it comes to affordability. a way in which i think you can benefit from that, from an investment perspective, is investing within single family rentals. so this is an area that has been institutionalized over the past decade, coming out of the global financial crisis you have a company like amh,

which is really benefiting from the -- the need for americans to have an affordable place to live and the cash flow growth that you sere seeing out of this company is very extreme. >> all right so all different parts of real estate covered laurel, thank you so much for being here see you again soon coming up on the show, openai and sam altman are back in the spotlight after reportedly coming under scrutiny from the s.e.c we have those details ahead. "the exchang iba aer ise"s ckft

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welcome back to "the exchange." the hack into change health care continues to disrupt hospitals and pharmacies the health department reportedly working to assess the impact on patient care, as well. this as we get now numbers looking at the cost of ransom ware attacks in the past year. here are those details >> reporter: hey there, dom. ransom ware has come roaring back, and the volume of payments to criminals from hacking victims set a new record in 2023, surpassing $1 billion for the first time take a look at this chart. from block chain analysis firm

which put out their report on crypto crime today you see a drop in payments there, from criminals from 2021 to 2022. which experts say is largely attributable to the russian invasion of ukraine which disrupted gangs operating in both countries in 2023, the payments rocketed back up to a new high of $1.1 billion, which is due to a large influx of new players into the space. other analysts have suggested that the russians and ukrainians have been able to regroup a little bit since the early days of the war and part of what's driving that new high is a new emphasis on very large ransom payments, with a share of $1 million plus ransoms surging, even as the smaller payouts decline as you can see on this chart here that means the bad guys are able to generate more revenue with less work. one piece of good news in all

this, dom, total krcryptocurreny value received is less, so that includes sanctions violations, terrorist finance, child sexual abuse material, other terrible activities on the internet the figure for all illicit addresses was $39.6 billion in 2022, dropping to $24.2 billion in 2023. why is that? well, it's in part because they count the $8.7 billion in creditor claims against collapsed ftx in their '22 number, which drives up the total for that year. so depending on how you count it, things look a little better than they did before >> all right thank you very much. speaking on cybersecurity, let's get some show and tell here, where we show you a chart and tell you the story okta shares are spiking 20% after they beat earnings and revenue estimates and posted

strong guidance. as a result, bank of america is double upgrading that stock to a buy rating and boosting its target price from $64 to $165. here's what the ceo told money movers about the ramp-up they're seeing in those cyberattacks >> in the last 30 days, we have blocked over 2 billion malicious attacks against our customer base we're not always perfect and we're trying to get better but the big picture story is that identity based attacks are a very serious problem over the many years ahead, we're going to be a $5 billion and $10 billion company. and we're confident that we can continue to grow to those levels and also deliver profitability >> cyber a big focus now over to tyler mathisen for a cnbc news update letitia james investigating the cause of last week's at&t service outage and response. at&t said over the weekend it

would provide billing credits to those impacted by the outage that lasted for almost 12 hours. senator john cornyn of texas will run to replace mitch mcconnell, the senate's top republican the texas senator had long been considered a possible successor to that leadership position, but mcconnell's surprise announcement yesterday jump-started the race for a successor. and you could own a piece of the iconic tv series "the sopranos." the boost at holston's ice cream shop and diner, i go there all the time -- well, not all the time but often enough. the final scene of the series was filmed there the booth is being put up for action on ebay bids have topped $30,000 by noon today. dominic, they have really good ice cream there. great candies, and terrific grilled cheese sandwiches. >> two thumbs up from tyler mathisen

thank you very much, tyler i want to draw your attention to shares of xcel energy, the firm flagging it received a letter from a law firm saying they could be libel from damages resulting from the smoke house croak fire, the largest texas fielwildfire reco. coming up, the biggest publicly traded golf company in america that you probably never heard of a rare and exclusive interview with the parent company of titleist, called acushnet on the business of golf that's next after this break

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to republican control of the senate. stop garvey. adam schiff for senate. i'm adam schiff, and i approve this message. welcome back to "the exchange." shares of acushnet holdings, this is the company behind huge golf brands, like titleist, lower today on a wider than expected loss and revenue miss but those titleist golf balls were a brought spot for that report and for acushnet overall. so far this year, seven out of eight winners on pga tour events this year have used those titleist golf balls. joining me now for an interview

and c nbc debut is the acushnet ceo. david, thank you very much for being here with us i can't but help but to see how you are framed there you are at one of your u.s. golf ball manufacturing facilities. can you take us through why you're there and how significant golf balls are to the titlist and acushnet business? >> yeah. nice to speak with you today, dom. i'm here in new bedford, massachusetts. you said it, the acushnet company is the parent of titleist and the origin of the company is -- goes back to the '30s. the company was founded off the street, they bought plant one, and today we manufacture golf balls in this plant behind me. this plant makes golf balls, running 24/7 and have been for quite some time.

we thought it would be appropriate if we were going to speak to your audience to do it from ball player 3 here in massachusetts. >> the stock right now is not exactly i'm sure what you would like to see, given the results that you reported out there. it was a disappointing report. but golf balls and the titleist brand specifically were a standout there can you take us through the positioning of titleist from a brand from a golf ball and golf club equipment perspective and your expectations for 2024 given where the stock is trading today? >> we look at our performance in 2023 it was a great success our business up over 40% in the last couple of years we put forth our guide today, which we see as real positive. we expect growth in balls, growth in clubs, growth in foot joy, growth across segments and regions. the ball business certainly plays an outside role in our

profitability, as does the titleist club business, which is based on the west coast. we feel really positive about the state of the game. the industry fundamentals are strifk and we have terrific brand momentum with all of our brands. so we're optimistic about the golf opportunity as you and your listeners i'm sure are aware, golf's been through quite a surge in the last handful of years. the number of players up some 20 odd percent. rounds of play around the world, index right around 950 million rounds last year, that's about 150 million rounds per year more than we saw in 2019. so the game is healthy, the industry is healthy. we really feel good about our results from last year and we think we carry nice momentum into 2024 >> a lot of golfers out there know who you guys are and what you do but maybe some people are surprised to know that acushnet is now the biggest by market

value pure play publicly traded golf equipment company in the marketplace in america you've had a fairly steady climb since the pandemic lows, driven by the covid wave of golf popularity some of your other competitors have seen that wave, but seeing some volatility, as well why do you think your business has performed perhaps in a different manner from a volatility perspective than some of your other competitors out there? >> yeah, as i said, our business up over 40% in the last couple of years the first thing we tell people about our business is you need to understand our target consumer, it's the game's dedicated player they're passionate, they play a lot in good times, they play in bad times. they're not recession proof, pu they're recession resilient. and we're coming off 2023 where record rounds of play in the u.s. and around the world. so lots to be optimistic about in the world of golf i think we get credit for our

focus on premium golf balls and premium golf clubs, our efforts to fit golfers, whether it's balls, gloves, footwear. i think it resonates with our golfers and with investors over the years. today not with standing. >> david, do you feel given all that popularity in surge, there's anything to be made of what's happening in the world of professional golf, where it's the most visible a growing rift between professional golfers between the pga tour and the saudi backed liv golf tour. there seems to be some progress in deal making and maybe not at the same time. do you think the game is going to be in a good place, given what we're seeing in terms of the friction at the highest levels of professional golf? >> dom, typically there's a real correlation between the recreational game and the professional game. and they feed off of each other. we've seen a bit of a disconnect in recent years where the recreational game is thriving and the professional game has

been fractured i tell you what, we think highly of the recent moves of the pga tour and ssg i think these a terrific partnership and the fans will win from that. ssg brings a lot of expertise that complements the many tour's expertises and it's going to be a win for fans the next step is what happens with liv and the pga tour? by all accounts, they're certainly asking -- both sides realize the importance of finding unification, bringing players together more often, and i think both sides realize the value and importance of doing that they haven't done it yet, but from what we hear and what we're hearing on the tours, that is a priority forboth sides i'll point to the recent move by the tour as an important first step in their alliance with the strategic sports group >> acushnet hit a record high on friday, down 7% right now. david, thank you so much for being here with us in your cnbc

debut. hope you'll join us again in the future >> thanks, dom nice to see you. coming up on the show, sam altman's brief ouster from openai catching the attention of the s.e.c. what regulators are looking for and what it could mean for altman's future at the cpa, omny that's coming up next. ries are transforming and businesses need to navigate the changing landscape to stay ahead. when you partner with barclays, every change leads to a bold possibility. you have the vision. we have the insights, financial solutions and global perspectives to help you make it real. barclays corporate and investment bank powering possible.

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welcome back the s.e.c. is said to be investigating whether openai misled investors that's according to "the wall street journal," which says regulators are examining internal communications of ceo sam altman that's the focus of today's "tech check" with deidre bosa. what else can you tell us? >> the s.e.c. is going to try to get to the bottom of what happened last november when sam altman was briefly ousted and returned five days later why did the board oust him in the first place, saying they had lost confidence in his ability

there's so many questions around that dramatic period, and so few answers yet. it has done little to change or harm altman's ambitions and prospects and those of openai. openai was still able to reportedly close the latest tender offer, the same $80 billion valuation that it targeted before th there is also the open eye boards investigation with findings coming as soon as next month. openai has declined to comment on this but just because there is an inquiry does not mean there will be a full-blown investigation but it is israel to note that private capital, which led the latest round, that still went ahead. maybe they knew something they didn't. maybe there were effective key vacations as well. that is other questions the s.e.c. will look into. >> still a hot topic with openai and that drama this past fall.

we will see later on for tech check as well per coming up, solutions, storage and salad. we have got the action, the story and trade on dell, meta and sweet drea atomm.th ces up next after this break. ♪ ♪ every day, businesses everywhere are asking: is it possible? with comcast business... it is. is it possible to help keep our online platform safe from cyberthreats? absolutely. can we provide health care virtually anywhere? we can help with that. is it possible to use predictive monitoring to address operations issues? we can help with that, too. with the advanced connectivity and intelligence of global secure networking from comcast business. it's not just possible. it's happening. fresh, warm hot dogs! when i'm not selling hot dogs, i invest in a fund that advances innovations like robotics. fresh, warm hot dogs, straight out of my torso!

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welcome back to "the exchange " we're talking about computer, but chips, and kale status. l and meta art today subjects. to hear -- founder and ceo, he is also a cnbc contributor we will kick things off with dell. it is doubling over the past year despite weaker pc demand. luke capital assisting artificial intelligent we could drive pc demand and increase enterprise spent on dealt's server offerings as well. you are a buyer of dell. tell us why. >> one of the reasons why is that we have a refresh in

market in the second half of this year. that would help increase demand. as well as enterprises. i think that will be a catalyst for a lot of companies especially when it comes to streamlining operations. dell will bring those solutions to their clients as well. it is a valuation and a risk. and they are trading savvy expensive but i think if you look at this, this is a buy for myself and for others. >> let us move on to meta. they have november jump on guidance. wedbush is noting higher cost in washington is waiting to see if they pull back on spending. what you want to see hear? >> i want to see, i think that is different with dell. i you spent in this area, it might slow. you're looking at cloud consumption and a lot of enterprise looking at slowing down potentially or subscriber dates. as a near-term risk.

i think a long-term catalyst after 2024. meta is well-positioned in my mind. the risk of the i.t. spend but i think that will be overcome by the long-term trend that we are seeing when it comes to these consumptions. >> dell now, we have addressed as well. finally with the sweet green, those shares are up 10% this year. stillwell office 2021 highs. oppenheimer is seeing stronger traffic trends and catalyst a new protein type offerings and the company automated infinite kitchen system but you are a little concerned about the strength of the sala consumer. >> exactly. and sweet green is getting this macroenvironment that we are seeing. if they're having a higher income consumer, that would probably stabilize demand.

i also see a battle of pricing power being able to maintain the pricing power. a lot of downgrades, there is a lot of revisions. i want to see a little more of the gross story. >> we've got the trade therefore dell, siu green and meta. delano saporu, thank you so much but we will talk to you soon, sir. >> thanks for having me. s check out the markets. the dow is at 32 points. we are just about mere -- well off session lows at this point but that doesn't for the exchange. coming up, today is national rare disease day. they will speak with the ceo of jean at incoming crisper about the strides they're making. that is on the other side of bisquick break. we will see you in a moment.

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