11AM Hour: Tech Stocks Sell Off, Tapestry CEO & Box CEO 11/5/26
Summary
Squawk on the Street covers a sharp sell-off in tech and semiconductor stocks following weak earnings from Qualcomm and Arm, driven by concerns over data center construction delays after midterm elections. Guests including Janice Henderson’s Richard Claude and Cantor Fitzgerald’s Eric Johnston analyze the market capitulation, noting that while the AI infrastructure narrative is challenged by political headwinds in Texas, the long-term trend remains intact.
Topics discussed
Acura and trading platform sponsorships
Market overview: Tech sell-off and midterm impact
Qualcomm and Arm earnings and semiconductor drop
Analysis of AI trade, data center delays, and neoclouds
Market positioning, 2018 parallels, and technical levels
GE Aerospace CEO on future flight and defense business
Bank stocks, private credit, and IPO pricing challenges
Vantage Score and Schwab trading platform ads
CIO on end of AI trade and economic outlook
Media and social media stock performance
Cantor Fitzgerald on tech de-risking and capitulation
Box CEO on enterprise AI and public perception gap
Market concentration and equal-weight S&P highs
Tapestry CEO on consumer trends and Coach growth
Ralph Lauren earnings and luxury consumer resilience
Data center relocation and closing remarks
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