Squawk on the Street The "I's" Don't Have It: Intel And IBM Slump, Biden's Stimulus Pitch, Yellen & Tax Hikes, And More SPAC Deals
Jan 22, 2021
The podcast dives into Intel and IBM's disappointing quarterly performances and their effects on market trends. It discusses President Biden's stimulus proposal amidst political pushback and highlights the rising interest in SPACs and new ETFs. Insights on economic adjustments post-COVID-19, including excess savings impacting sectors like online gaming, are explored. Finally, it contrasts Disney's positive forecasts with IBM's challenges in the tech sector, all while analyzing the latest stock market movements and retail trends.
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Intel's Leadership and Taiwan Risk
- Intel is no longer the technological leader it once was, having fallen behind competitors like AMD and NVIDIA.
- Its reliance on Taiwan Semiconductor raises strategic risks, emphasizing the need to protect Taiwan to sustain the US chip industry.
Intel's 2023 Manufacturing Strategy
- Intel expects most of its 2023 products to be manufactured internally despite missing its 7 nanometer target.
- The company will still use external foundries like Taiwan Semiconductor for certain technologies.
Retail Investors Keep Market Fueled
- The puckish enthusiasm of retail investors is fueling surges in stocks like Unity and CrowdStrike.
- These investors, including the 'Murray men', represent a real and influential market segment.