Sozzi talks SpaceX, takes a look at Nike, and chats with the Conference Board CEO

Yahoo Finance Executive Editor Brian Sozzi takes a look at the biggest stories as the trading day kicks off, weighing in on what's next for SpaceX (SPCX), airline earnings expectations, and more.Sozzi also sits down with The Conference Board CEO and president, Steve Odland, for a conversation about leadership.

It's a good day for me because we loaded up some new sounds on the Sazi unleashed sound pad like this one. That's to me because I'm just doing a really good job on this show. But also doing a good job, Taiwan semiconductor, and I gotta give a shout out first to Innez Fre who covered that story yesterday on Taiwan semiconductor hitting a record high because of potentially working with Elon Musk and their Terra Fab. Shout out also to.Trend spider on X gave him a repost on my account early this morning. That chart from him shows this move in TSMC so very well, also showing it very well. And shout out to the Yahoo Finance production team pulling this one up on AlphaSpace going back to 2000 on Taiwan Semiconductor. You know, every day I'm sitting here talking about AMD and Nvidia and Broadcom and Intel. All these stocks doing well. Don't forget about TSMC.They are a major, if not the major player in the chip space, so this stock now at a record high. Look at back in early 2000 during the internet boom, I guess nobody needed chips then, at least not from TSMC. Of course that's not the case, but you know what I'm getting at? TSMC at a record high, really, one of the, uh, under the radar stories I think this year, as it was last year. Not under the radar though is all things.Technology because tech is having another moment to remember. The stock market is pretty much being kept afloat by 3 increasingly larger tech stocks that is none other than AI Chip king, Nvidia, foldable phone wannabe Apple, and NFL sideline surface tablet seller Microsoft. The S&P 500 has never been more concentrated in just.Three stocks than it is today with Nvidia, Apple, and Microsoft representing, get this, over 21% of the index, according to new data from Creative Planning, love their work. The importance of 3 stocks to the S&P 500 has never been well. More important, only IBM, AT&T, and ExxonMobil could hold a candle to the three tech beasts of today. Back in the mid-1980s when I wasYoung pup studying the Wall Street Journal and thinking about stocks. Those three industrial, old industrial giants at their peak made up 13.4% of the S&P 500. Nvidia, Apple, and Microsoft have been enjoying higher stock prices over the past month on the back of favorable news, pushing them to their record concentration in the S&P 500. You're getting a Yahoo for this one, and this one is not the Yahoo sign. This one is.There we go. To all this, I simply say two things. One, what could possibly go wrong with all the excess enthusiasm for 3 tech stocks.And 2, there are 497 other companies in the S&P 500, and I assure you there are great investing opportunities from this patch. In fact. You go into Office Space and you do the work on TSMC. This thing just hit a record high. Go out and do the work on it.Clearly I've had a lot of caffeine this morning. It's been a very, uh, it's been a very busy morning and I'm about, I don't know, 7 hours into my day. But, uh, let's go to AMD, uh, because I think this is the 5th time since Sazia Unleash has launched, uh, about 2.5 weeks ago that I'm sitting up here starting my show with Lisa Sue and AMD. There you go. Lisa Sue is out there, uh, traveling the world. She has a very busy, packed October calendar.My day started with hearing her comments. I believe Lisa's in uh in Taiwan, and as you all know, Lisa is my first member of the uh Wall of Titans. And Lisa, there it is.On the wall Titans, my first memory, and she's earned it. But Lisa coming out here today saying demand for chips is strong. Now I don't expect to hear anything different from uh Lisa, I don't expect her to come out on a trip overseas and say, oh well, nobody wants any more chips, and we're gonna miss our guidance. That's not what she said.She said demand is strong. She wished she had more chips to sell more of her customers. That is the 2nd bullish indicator we've gotten from a chip company in two weeks. Micron, big earnings, big outlook. Now that might be buying back billions and billions of dollars of their stock. AMD out here saying we wish we had more.Tips. Put all the pieces together. We are likely on the cusp of a major earnings season in a few weeks from a lot of these big tech companies, Broadcom, even Intel, AMD, Nvidia, you name it. You are getting the signals right now in this market. Ignore them at your own risk. But I do have someone who is paying attention to what they're hearing out of AMD, and that is the team over at Citigroup lifting their price target shut out of Keith Malik to $800.From 575, and this is a, I love this call. I love when stock analysts in fact do their job and their job, having done this job before, is to connect the dots and make good calls for clients. So Atif is doing just that. He's saying they can see that is AMD more bullish demand for CPUs because of the success of Metamuse.Meta is a very, very large consumer of AMD CPUs, one of their biggest clients, and clearly Muse, and it's cute, cute little cuddly mascot are off to a good start. Millions of downloads now pushing into the enterprise space. That is good for AMD, saying the folks over at Citi. Also, got to shout City out this, they are raising their TA. Don't know what that is. It's total addressable market. All the tech bros love saying it. It's a lot easier than saying total addressable market. So they say Tam.City out there raising its outlook for CPU total TA from $29 billion in 2025 to $300 billion in 2030, or 60%.Oh, Kager, that's a compound annual growth rate, because why bother saying it all, just lump it all into one term. That's what Wall Street does to confuse the hell out of you. But a big morning for AMD bullish Lisa Sue comments. We're gonna just give Lisa, we're gonna give Lisa a yahoo because I'm feeling the Lisa Sue vibes here. She has earned that spot on that board. Let's keep it moving here because uh I want to do a little bit of a Morgan Stanley, now caught my attention.Yesterday Morgan Stanley came out.Adam Jonas, he used to cover the autopa and Tesla. Now he's covering pretty much basically, uh, basically SpaceX. And so much enthusiasm for what Adam Jonas, a longtime market mover, had to say about SpaceX and calling the stock cheap in the X accounts and all the Elon fans, just like really riffed on this and got super excited. I just knew they were foaming at the mouth on SpaceX yesterday.I think everyone actually didn't read what Adam had to say in this note, specifically the catalyst, why he thinks SpaceX is cheap.So I'm going to do the work for you. I'm going to go tick by tick on why Jonas thinks SpaceX is such a good buy. First up, Starship Flight 15. Now they are waiting, we are awaiting confirmation from SpaceX on if this catch, the catching of the SpaceX rocket could actually happen with the long arms of the SpaceX rocket booster platform thing. I'm, I'm not a rocket scientist. That's what it is. But the market wants to see a successful capturing of that upper, upper part of the rocket.So Jonas thinks that could actually happen. Third quarter earnings coming up in a few weeks. Jonas says potentially it's the first real look at the economics and adoption rates of SpaceX's internal AI services, including Cursor and Grokbot. That's the first time I think I've seen something like this called out in a SpaceX.Good to see Jonas getting ahead of that one. Like I just mentioned on AMD, I love when analysts do their job and are forward looking. Next one, Starship Flight 16. Now this is Jonas saying that if the 15 doesn't show them catching that upper rocket part, then Starship 16 might do that. He's expecting that before year end.Then number 4, Grok 4.8, 4.9, and 5.0 releases. I've been using Grok. I gotta say it's working pretty good. I've been making myself some short AI focused videos. I did a post recently on my, on my Instagram account of me jumping out through the Sazi unleashed wall using Grok. I loved it, uh, for right or for wrong, uh, it amused me. It got my word out there about my show, so I, I could feel Gronk. And then last but not least, further Neocloud deals, something to watch.Watch out for all things SpaceX. To that end, I would also watch out to what they're doing with can they get more business from an anthropic. There were some reports this week that they might sign a leasing capacity deal with Microsoft that could be a bullish catalyst too for for all things SpaceX. So a very busy morning out of the gate with all things technology, and look, it's it's going to be a pretty interesting earnings season, that much is for sure.I'm thirsty. It's been a long morning. Uh, airline stocks, you know, at the end of this week we're going to get results out of Delta. Now I love following Delta. Delta really is the first company to report earnings in an earnings season. I always view their report as super, super important, a great early tell on how earnings season might go, because how Delta does.Is a good signal for example how an American Express does. Those companies are tied at the hips through their rewards program. So for me, I love the Delta Earnings report. I also love this Delta new logo, guys. Like I don't know if that's a new Delta logo. It just appears more brighter to me. Nonetheless, a good note, and I'm on the note hunting front, uh, by Connor Cunningham at Melius Research, one of my favorite analysts, uh, to cover the, um, the airline space. Now Connor calling out.The potential, I think what he's trying to say is the potential for them, some of these airlines, to cut guidance because of rising fuel costs, and that is a that could be a major concern here for him. He's calling it there's a vicious cycle of fuel prices. Basically fuel prices went up so much over the 3rd quarter because of the US war in Iran. A lot of these companies were, there you go, the chart right there. I mean you can see how much fuel prices have gone up for a lot of these for a lot of these airline companies, but the problem is,They have not pushed through enough fuel-related price increases on consumers, and then he goes on to say, Connor, that it's hard to do this, raise the prices to the extent that is needed to offset these higher jet fuel prices when the consumers are out there weak. There's only so much you can push price increases even on luxury demand, whether it's a Delta, a United Airline, JetBlue. I mean JetBlue has had a horrific run in terms of its stock price performance. United Airlines, Delta hanging in there.More, but Connor making a good point that at some point these companies are going to have to raise fares likely for the holiday season to offset this higher increase in fuel prices, and it's not reflected in the stock price. Connor is right to bring up this, that these companies, these stocks, these airline stocks normally track or follow.The earnings estimate revisions by Wall Street analysts, and I went on Yahoo Finance this morning. I looked up Delta, United Airlines, even at JetBlue, and these earnings estimates have not been cut over the past 60 to 90 days, in large part because of what we're seeing in fuel.This is a major risk. So when Delta reports today, they could very easily sound a very cautious note in terms of forward guidance. I think their demand is going to be strong. Their premium seating has been strong. A lot of those rich people are staying in Delta ones like I mentioned yesterday on the show. But, but the cost component is a major unknown, and it could turn around, I think, perhaps to bite them in the ass. Look at these seats. I mean some of these seats in these, these airlines are just getting so, so plush, lie down flat seats like.I mean this is like a bed. This is nicer than my co op on Long Island. Yeah, this is crazy. I mean some of these seats, but look, you pay for this stuff. So when you see Delta and a lot of these airlines report, it's because of those premium seats that's what's saving their ass right now with jet fuel prices up.There we go.Now, I want to go uh bring in the CEO of the conference board, and that is Steve Almond, and we are tracking, you know, amongst anything, the state of the consumer, uh, what it all means for the markets, and Steve, you're out. Good to see you, man. Before I get into your survey, survey a little bit on, on CEO pay, how, and I think the Journal had a good story on this this week, how is consumer confidence tanking?And consumer spending is staying intact.