Squawk on the Street Pat Gelsinger Steps Down As Intel CEO, Black Friday Boost, Trump Throws BRICs on Tariffs 12/2/24
Dec 2, 2024
Exciting changes in the tech world unfold with Intel's CEO Pat Gelsinger stepping down after a challenging tenure. The impact on stock value is significant, losing 60%. Holiday shopping soars with Black Friday racking up $11 billion online, showcasing shifts in consumer behavior. In political news, President-elect Trump stirs controversy with a 100% tariff threat against BRIC countries. Plus, insights on major players like Stellantis and the ongoing challenges in the semiconductor industry. Don't forget the latest buzz about Elon Musk!
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Intel CEO Steps Down
- Intel CEO Pat Gelsinger's retirement is announced, causing a significant shift in the company's leadership.
- Gelsinger's tenure saw a substantial decline in Intel's share value.
Investing in Semiconductors
- Look for semiconductor companies that are not overvalued and have strong partnerships.
- Marvell Technology is cited as an example, having a substantial collaboration with Amazon for AI infrastructure.
Supermicro Review Results
- Supermicro completed an independent review, finding no misconduct by management or the board.
- Despite this, the company is taking steps to enhance its financial and legal departments.
