Today, Bitcoin retreats amid a tech stock pullback. Blockchain lender Figure files to go public on the NASDAQ. And Congressman Brian Style, chairman of the House Subcommittee on Digital Assets, sits down with us at the Wyoming Blockchain Symposium to discuss what's next on the crypto legislative agenda.Welcome to CNBC's Crypto World. I'm Talia Kaplan here in Jackson Hole for the Wyoming Blockchain Symposium. We'll get to the latest from this conference in just a moment, but first, let's take a look at price ...

Market Broadening & Investment Strategy - Miller Value Partners 认为市场正在经历一个拓宽阶段，类似于 1999 年至 2006 年期间的情况 [1][2] - 建议积极投资于小盘周期性股票 [4] - 类似于 2000 年到 2006 年的环境，小型股价值指数几乎增长了两倍，跑赢大盘增长股 20%/年，持续 7 年 [3] Macroeconomic Factors - 美国失业率较低但略有上升 [3] - 通货膨胀在很大程度上受到控制，货币政策制定者受到鼓励放松政策 [4] - 债券市场目前预计未来 2 年的年化通胀率为 2.6%，属于可控范围 [5] Valuation Discrepancies & Capital Intensity - 科技七巨头（Mag 7）的估值相对于市场其他部分非常高，同时资本支出也在急剧增加 [6] - 科技七巨头（Mag 7）的资本支出占运营现金流的比例从 2020 年的三分之一以下增加到 2023 年的 60% 以上 [7] - 行业内对 AI 模型的过度投资可能导致价格战 [9] Specific Company Analysis - Alphabet 是价值投资者投资人工智能的途径，因为它拥有 YouTube、搜索和 Waymo 等资产的分配渠道 [9][10] - 尽管 Alphabet 具有更好的增长和护城河，但其交易价格低于市场 [10] - Android 操作系统每天都在 70% 的人手中，这是一个护城河 [12]

Investment & Market Focus - Data Bricks 获得大量投资者的关注，尤其是在 Figma 上市后 [1] - 投资者最关心的问题是 Agentic AI 是否能真正实现企业内部工作的自动化，以及投资回报率 [2][4] - Data Bricks 认为 Agent Bricks 和 Lakebase 是两大投资机会，但目前仍处于早期阶段 [3] Product Development & Strategy - Data Bricks 专注于数据智能，旨在利用企业现有数据解决实际问题，而不是追求超级智能 [8][7] - Agent Bricks 专注于构建能够解决企业日常任务的智能代理 [7][10] - Lakebase 旨在为 Agentic AI 提供数据库支持 [12] Industry Trends - IT 部门对使用低代码技术自行构建软件的兴趣日益浓厚 [11] - 企业对 Agent Bricks 的需求巨大，希望利用其实现工作流程自动化 [10]

lows might actually be hoping that happens. So let's kick off and dive in with Morgan Stanley's chief U.S. Equity strategist, Mike Wilson. Mike, it's great to have you back on the program.A lot of people they may have sold during the panic. They kind of they haven't been back in. They're waiting for an entry point.Is that coming. >> Well good afternoon Brian. I mean, look, I don't know if they're going to get a big, fat pitch like we got in April.That's probably very unlikely. We think ultimately that was t ...

Let's get over to Christina Parson. She's at the NASDAQ. Has more on what all this could mean for Intel.Fascinating story in terms of what you can imagine with a 10% holder. He went on to say as well that they don't want governance rights if in fact they do get there. But a lot yet to come here, Christina.>> Yeah, they don't want voting rights and I'll get to that, but this is essentially if we're talking about the Soft Bank, it's a $2 billion lifeline from the private sector and shareholders really need to ...

Senior living REITs such as Venas and Welltowwer seeing big gains over the last year. Shares of Welltowwer, for example, up more than 40%. You can see that in this week's property play, Diane Olic sat down with the Venus CEO talking about the big opportunities that she is seeing in that space and she joins me now.Diana, well David, more than 4 million baby boomers will hit 80 in the next 5 years and occupancy at senior living communities is hitting new highs. As you said, I sat down with the CEO of Ventas, ...

Investment Strategy - KKM Financial is focusing on lower-priced stocks, identifying three "laggards" with potential for recovery [1] - The strategy involves buying the dip in companies that have "fallen from grace," anticipating potential catalysts like government intervention or investment from figures like Warren Buffett [2] Stock Analysis: United Healthcare - United Healthcare's P/E ratio reached a five-year low of 14 at the start of August [4] - Warren Buffett's investment of 5 million shares signals confidence in United Healthcare [4] - An opportunity exists for United Healthcare to rebound to $442, despite recent challenges [5] - The healthcare sector has generally performed well, with nine out of the last ten years showing positive growth [5] - The company faced a "brutal year" with earnings revisions and issues related to Medicare Advantage [5] Stock Analysis: Intel - Intel's stock has experienced significant volatility, with substantial declines in 2022 (down 46%) and 2024 (down 59%), but a large increase in 2023 (up 94%) [7] - Investment from SoFi and the US government is contributing to stabilization [7] - The US government now owns 10% of Intel, creating a unique situation [8] - Intel is considered an "essential American chipmaker" with the potential to test $38 again [7][9] Stock Analysis: Tesla - Tesla's stock is down 18% this year [3] - Tesla is viewed as being "coiled on a chart," suggesting a potential breakout to the upside if it succeeds in robotics and AI [3]

Eastern and streaming on CNBC plus. >> Welcome back to The Exchange. Morgan Stanley out with a new note this morning saying that Megacap tech stocks are the most under owned, at least amongst actively managed funds and more than 16 years.The gap between portfolio and S&P weightings widening significantly in the second quarter. Firm argues this could actually be a good thing for the sector. Joining me now to discuss one of the analysts behind the note, Eric Woodring.Eric, you know, I know you don't cover all ...

More on this. Our next guest today says today's reaction is overdone. That Vikings data is comparable or maybe even a bit better than Nova Nordisks and Eli Liys.He's sticking with a buy rating and a $125 price target. Joining me now is Justin Zelen. He's the biotech analyst at BTIG.All right, Justin, make your case. Why shouldn't investors abandon the stock as apparently so many of them are today. >> Thanks for having me on, David.Appreciate it. Yeah, I I I I have to say I think that the market reaction her ...

My next guest argues, however, that there is a strong case to skip cutting rates next month. For more, let's bring in Michael Darta, chief economist, macro strategist at Roth Capital Partners. Uh, Michael, why are you wary perhaps or don't think that it is the appropriate time to cut in September.>> Thanks for having me on, David. Look, I think they're going to cut 25 basis points in September. It's pretty much fully priced at this juncture.Uh but there was a much stronger case a year ago in my opinion beca ...