Buffett Shrugs Off Fitch Downgrade, Qualcomm Shares Sink, Live: Shopify President 8/3/23

Carl Quintanilla and Jim Cramer began the hour by breaking down the tech sector, a day after the Nasdaq suffered its worst daily performance since February. Shares of chip giant Qualcomm plunged in early trading despite beating earnings estimates, after the company’s guidance and revenue fell short of expectations. The anchors also turned to Warren Buffett shrugging off the Fitch downgrade, telling CNBC “There are some things people shouldn’t worry about… this is one.” Also in the mix: Shopify President Harley Finkelstein joined the show to break down his latest earnings beat, the company’s partnership with Roku and a lot more. Squawk on the Street Disclaimer