intel, sorry, up 4.8%. the etf which closely follows many of the semiconductor companies up 4/10 of 1%, and mixed bag within that basket because many companies will be benefiting from this intel move, some will be facing increased competition, including tsmc which had its own hope of building a factory in arizona. applied materials up 4.4%, white, because applied materials makes the machines that make the chips. if you are building new factories it makes complete sense. emily: ed, this is kind of the opposite of what many on wall street expected intel to do. why do you turn? -- why do you turn? ed: when the ceo was announced, he is a technologist. it seems like he is doubling down on intel's legacy. look at the shares of intel, sarge line. relative to tsmc, now i direct rival because of this announcement. a five-year chart that tells a story, intel has clearly left behind but also its new rival, specifically, in manufacturing, it has fallen behind in the cutting edge manufacturing process, makes them so eff

i'm not sure how far behind intel is but tell me about system on a package and how much ground intel can make up in the near term with a package focus versus just, you know, the process technology alone focus >> yeah. it's a great question, jon what the industry has done is we've gone from chip on boards to system on chip and now it's system on package. intel has had a sustained leadership in packaging technology that's maybe a couple, three years ahead of anybody else in the world. and as more of the world moves to system on package, we are able to leverage that unique capacity even when we may have some process gaps in our overall portfolio. and part of the foundry strategy is leverage that aggressively and i showed off one of those chips yesterday that we have, over 40 different tiles as we call them on one silicon package. it's just an incredible feat and we're using that particular design for the high performance computing scale programs the strength in packaging is one of the things that helps us to close any gaps that we have. that said, i am out to unquestionably be back to p

tonight on fast, intel on the out. shares sk teeing their biggest drop andcleveland cliffs is soaring after nearly 15% earnings. what is next for the steel producer and beyond meat shares plunging today. we start off with the great consumer comeback. shares of america express soaring. the stock posting its biggest game since last november the company saying card member spending hit a record, nearly $8500 on record. is this a sign the american consumer is back better than ever >> jeff mills? >> i think they have been back for a while. i have talked about the strength of the consumer, all of the things that can power demand as we move into 2022. this was all good news loan balances were up. i think you saw it in the macrodata today. not just amex. you are seeing spending. i think that is important trying to figure out where the strength of the consumer will go. amex is trading at 20 times, maybe a little higher so i think some of the good news is in at this point when i think about general retail you can think about cole

we start with that intel news. with us now more insights and strategies guys, good morning >> morning >> pat, two and a half years ago there was some rumor that intel might be talking to pat gelsinger about this role. he said, no thanks now, apparently, he's saying, yes, please. so why is this a job that so few people seem to want? i mean, when bob swan came in, he did my podcast and said, no, i don't want the job then he took it. pat gelsinger said, no, i don't want the job now he's taking it it's a good job, right >> i mean, look, this is the biggest job in semiconductors. one of the biggest turnaround stories. if you can pull it off, that's a legacy event for yourself. certainly a challenge. maybe he feels like he's up for the challenge. >> pat moorhead, give us a sense of the significance of this moment intel is facing challenges from amd and the pc landscape, challenges from apple making its own chips at the high end, perhaps setting the bar for others, and buying the 5g modem business so what does pat gelsing

but starting with the breaking news with intel, josh lipton has the detaylors. >> so intel has is hosting the calls. it it significant. let me bring you the headlines they're announcing manufacturer expansion plans beginning with $20 billion investment to build two new fans or factories in arizona to say this will create 3,000 high-tech jobs, 3,000 construction job and 50,000 long term jobs. the ceo saying in a statement we're setting a course for new era of innovation and product leadership at intel. he says intel is the only company with the depth and breadth of software with package and process with at-scale manufacturer that customers could depend on next generation innovation two more quick bullet points, in this release they are reaffirming the company expectation to continue manufacturing the majority of the products internally. they give an update on 7 nanometer development they say is progressing well. and talked about expanding third party foundry capacity they expect that to grow and include manufacturing for range of module tiles and advance process technologies the headline t

as i've declared, intel is back. emily: you've suggested companies like apple and qualcomm would be your customers. why would that be your customers if they are your competitors? why should a fierce rival also work with you? >> i think you have written on the subject, clearly the idea that in some domains you might be competitors, customers, and partners as well. there are few companies that can step into advanced semiconductor technology. something we have only used for internal needs of scale before. now were saying we're going to open our fab doors wide for the industry. with that in mind, customers are looking and saying, i only have samsung and intel as the leading choices and only one of those is on western u.s. and european soil. i need a more balanced supply chain. i want to have at least two suppliers, and intel is saying we are going to be that. emily: what are the financial implications of the move? when does it all start paying off? >> it is a capital-intensive cycle. you invest well before you have that

. >> coming up, phtony has got some intel on intel we'll reveal after this. i have an idea for a trade. oh yeah, you going to place it? not until i'm sure. why don't you call td ameritrade for a strategy gut check? what's that? you run it by an expert, you talk about the risk and potential profit and loss. could've used that before i hired my interior decorator. voila! maybe a couple throw pillows would help. get a strategy gut check from our trade desk. ♪♪ keeping your oysters business growing has you swamped. you need to hire. i need indeed indeed you do. the moment you sponsor a job on indeed you get a shortlist of quality candidates from a resume data base claim your seventy-five-dollar credit when you post your first job at indeed.com/promo so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america. but is it secure? sure it's secure. and even if the power goes down, yo

we can see it with intel taking the lead once again. we have discussed the move and how the business will do better. this is bloomberg. ♪ caroline: one of the major corporate stories of the day centers on intel. the chipmaker and bailing a plan to spend billions on reviving manufacturing, but the ceo is saying intel is back. joe: that's exactly right. multiple stories combining here, because we have the well-known ship shortage that is an acute thing, and -- chip shortage that is an acute thing, and intel announcing it will spend $20 billion on two new u.s. plants to do more manufacturing chips in house. we saw some weakness among the competitors. caroline: weakness among competitors? i am sure we will get the charts any moment now. joe: hey. caroline: there we have it, until down 2.3%, but it is the spillover effect. much lower than 5% at one point after hours, down 1% at one point, and the chipmakers today in the u.s., applied materials, they are the ones that will benefit from this. joe: more competitors bidding on their goods. joi

first, intel. we have to mention here that those shares are down and had gotten a nice pop and they came out with earnings. intel of course, you're talking about the biggest chipmaker out there but the problem is that it is a narrow business that focuses a lot of attention on the data center and it has been losing a lot of its market share and that seems to be the concern, despite the company saying that they see double-digit percentage growth, it still isn't enough to keep up with the competitors. twitter on your screen, getting a bid to. a lot going on in the afternoon -- after hours. so it's a good thing we are here. our cross asset reporter is here with us. it was a pretty mixed day in the market. some of it had to do with a mix of economic data and corporate earnings. >> absolutely. you have bearish positions in dollars and in the put call ratio for the options market. stocks keep grinding higher and higher. there was a great story today about retail buyers getting in on the debt and -- debt a

intel. i would not be a buyer, especially on this pop i wouldn't be a buyer of tech. you know where i am right now. but definitely not a buyer of intel on this pop. >> the knee-jerk reaction was up 7% but key bank had a thought that the new ceo may make it more unlikely that intel seeks to outsource more things that wall street thought would be a solution to the manufacturing issues that have plagued this stock for the past quarter or so >> well, i think wall street is thought that sintel wasn't up to it staying focused on the data center and things that are working but i think this had to be done. you have to be encouraged not only by the background of this gentleman but the history at intel, the first cto, and an understanding of a mix between software and chur. this is the right guy for the job to understand where the industry is, where it's going, where this company needs to go up think this was a company that was clearly underperforming. looking at a peer group, look at the smh, look at

, or the gal who runs intel, the woman who runs intel, i'm sorry, can turn a switch, the problem is, is this is multiple years of falling behind and i hope that they can get a bigger person, because intel is a national treasure. but right now intel is an also-ran geez also-ran >> it didn't happen greatly, it has been a frog in water kind of long-term dynamic. although up 10%. the spokesperson this morning david says the biggest gap higher since '87, believe it or not. >> that is somewhat surprising but again mr. gelsinger gets a lot of positive remarks from people out there and he is an engineer just quickly to go back to his background, a long-time intel engineer by the way, the company's first chief technology officer, and also at and moved up to the ceo of vmware, and we look forward to having him on to tell us what his plans are for this company that he will be taking over a little more than a month from now. >> amazing, carl, the 1987 numbers, when it went into the black, and when they got out of the d-ram business right then, it makes sense that it could be, it should be up tha

and look, intel was at all-time highs hen that news hit. let's be clear i actually think that the performance isn't that bad from a trading perspective on a day's basis as a trader. i think intel had a very strong move off that gelsinger announcement, off that investor day. it's not surprising it needed a catalyst to pull back a bit. but i wouldn't be running from this stock >> so i guess this really begs the questions, most obvious segue into a game of would you rather at this point, part of nvidia's move was not just this announcement of this new grace chip but also that first quarter was tracking a head of expectations, it's firing on all cylinders when it comes to graphics chips ai got the kicker from crypto and crypto mania that is going on, dan. so would you rather at this point, nvidia, which seems to be firing on all cylinders with the wind at its back, or intel where you are to bank on a turnaround? >> yeah, mel, i think i'd retardant amd right here guy adami pitched this thing a few weeks ago. >> okay. >> and i really like the rel

military, and even intel. which uses tsmc to produce their cutting edge designs they are not advanced enough to make themselves. how and why, did intel fall behind? >> it is a surprising to us to. >> reporter: we spoke remotely with tsmc chairman, mark lu at the company headquarters in taiwan. his company is a leading supplier of the chips that go in to american cars. and in march, 2020, as covid paralyzed the u.s., carly sales tumbled, leading automakers to cancel the chip orders so tsmc stopped making them. that's why why when ces unexpectedly bounced back late last year, there was a shortage of chips. leaving cars with no power parked in car makers lots of costing them billions. >> we heard about this shortage in december timeframe. and in january, we tried to squeeze as much as possible to the car company. today, we think we are two months ahead that we can catch up the minimum requirement of our customers before the end of june. >> reporter: are you saying the shortage in chips for cars will end in two mo

because intel has fallen behind. we've also suffered over the last -- and i would say this problem has been almost three decades in the making, where we don't like manufacturing in this country when it's extremely capital-intensive. a lot of investors are kind of allergic to capital intensity. so it is like, hey, the design part, ship that manufacturing overseas to someone who might be willing to do that. now all of a sudden we see a couple companies overseas who amassed a lot of capabilities, a lot of skills, and can actually make some good money on it. and it's like, oh, maybe we shouldn't have done that. joe: the whole the reason we are talking about the chip shortage, the acute chip shortage this year, it stems from the automakers in the parts that they are missing are not high-tech. in fact, they might cost $1 each. but if you identified a real weakness emerging at the high-end. if you look at what is going on at the white house today, these car companies, their need is not the advanced stuff you are talking abo

emily: my conversation from intel's c.e.o. expect the ambitious plan to spark it across chip makers. note -- ♪ emily: we just heard from intel c.e.o. earlier laying out his plan to double down on chip reduction in the united states and also make chips for other companies based on their designs and his ideal scenario like apple and qualcomm would be customers. shares he fell flat today. morgan trust portfolio senior manager about the plan. maybe just the start of something bigger for the chip industry. and dan, you have a huge holding in intel, more than 550,000. so what is your take and is it a good move and can they deliver? >> it's huge news, $20 billion to build two plants in arizona. and before i came on, intel, they are a big producer in terms of chips going into p.c.'s and servers that go into data centers. and now talking about building out capacity where they can produce chips for other companies who do the design work and producing the chip work. like a semiconductor at samsung. they produce chips for all the big ch

-- why do i need to use intel? that starts pulling volume out of intel's fabs. joe: very insightful. willy shih from harvard business school. you can hear more conversations with professor shih on our podcast. you can check that out at apple podcast and spotify. semis are a key part of the global supply chain. we focus on trade with a professor of political economy. this is bloomberg. ♪ caroline: over the past four years, one of the major talking points for outgoing president trump is his global trade war with china. it is interesting, the focus our colleague took a look at how both countries are faring when you look at china versus the u.s.. who has won? joe: if you look now, especially after almost a year of this coronavirus crisis, chinese exports, absolutely booming right now. that is the blue line -- sorry, that is the blue line. romaine: it is turquoise, joe. joe: i am colorblind. chinese exports aren't as big but you have to figure about the americans cooped up, buying stuff at amazon and walmart. that is the blue line. romaine: lots of people want to s

that is the focus of intel. intel is the biggest chip maker in the world, but it kind of moved away from what it did best, which was bringing two products -- which was bringing products to market very quickly, and products every year and being very aggressive in technology and the manufacturing process. emily: you are going to keep listening into the call and we will be covering the transition of power as pat gelsinger takes over as new intel ceo. coming up, an entrepreneur has -- serial entrepreneur has some wisdom for businesses looking to compete in the digital economy. whoever builds the best software wins. we will talk about that with twilio cofounder and ceo jeff lawson. that's next. this is bloomberg. ♪ so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america. but is it secure? sure it's secure. and even if the power goe

now intel 10 is running great. intel 7 ramping in production right now. intel 4 looking healthy so the process machine is coming back to life. very well. even a bit ahead of my audacious expectations my team is ahead of those and obviously the proof point with alder lake and the launch is absolutely the compelling well to begin innovation. >> what is the role of software at intel in this era and how are you going to drive it differently than it has been driven in the past >> yeah. many aspects to this question, jon, as i think about it, why did god have me outside of intel for 11 years running a software company for eight years? i think a lot of it was to prepare me to answer that question because you know, it really is a hardware silicon company like intel, we sort of think of software often as the afterthought the reality it needs to be the forethought because developers develop the software interfaces. the software needs to come first and then the silicon needs to fit underneath those software interfaces and make it better. and that's why we brought gr

even the overall semiconductor index is up, despite big losses in intel. we did get the market manufacturing and services pmi numbers. a light miss on manufacturing, but actually better than expected on services good employment indications on services it's what i think wall street wants to see as this transition from hot demand for stuff and then transition towards services and that's the next phase theoretically of this recovery and expansion which would in theory ease some of those supply chain frictions that we've been talking so much about. >> we'll continue it talk about as we get another busy week of earnings next week the s&p did hit a record high today. that's going to do it for "squawk on the street. "tech check" starts now. ♪ >> good friday morning welcome to "tech check." i'm carl quintanilla with jon fortt and julia boorstin there are three stories in tech, 30 billion gone in snap, stock tumbling 20% then another ecosystem play, google changing its app store model, cutting fees, names like bumble, match and roadblock soaring. third stock at p

10 is healthy, intel 7 is in production and intel 4 is looking good, we're ahead of schedule on intel 3 and intel 18a, our nextnew five process notes were all on or ahead of schedule you wouldn't have believed it, but it's true we're demonstrating exactly what we're saying that we're going to go down and just as a process technology, wow, that's a lot of progress in a short period of time killer new products like ailederlake, sapphire rapid, our server product coming in q1. next week a bushel of innovation that we'll be rolling out at our conference yeah, the momentum is building we've clearly laid out a plan that we believe is executable, aggressive, of course, but this is a great company with great capacity, and i'm committed to make this plan come true and we're going to have a string of great successes in our future. we've laid out a clear picture to the street of what to expect over time and today, never like to seat stock go down, but i feel great because now everybody knows what the plan is and we're focussed to make it happen >> investors might ask given you were very clear on

it manufactures chips, both for competitors of intel and also from intel customer. there is competition that is going to be happening longer term. they were eyeing a new factory in arizona. based on the movement, taiwan semiconductor being down 4.8%. there should be some kind of ship, all semiconductors not focus so much in conversations we have had in recent months. haidi: you can see intel very much at the bottom when it comes to the stock performance, in fact, the leaders of that pack. you talk about the impact on the supply chain, how does this reverberate? ed: we have the lines out, the college is finished. effectively, the first thing is intel is going to go looking for customers. call those names like qualcomm and apple. it was interesting as well, there is a second story happening, you see the likes of apple and google designing their own ships and eating something to build them. intel wants to get in on that business. the biggest story and for decades, not just the last five years, decades that intel was on the forefront. how you manufacture a semiconductor

in the past kind of intel's way. what flavor of x-86 would you like i wonder to what degree that changes if at all with pat gelsinger. >> the fact you compared him so early on to steve jobs, satya nadella sounds like a vote of confidence. >> wait. whoa, whoa, whoa i'm not saying he's steve jobs or satya nadella i'm saying those are the turnaround presidents. those turnarounded worked's in so in what ways do though structures, formulas, apply to intel's situation is all i'm saying. >> fair enough. but we can't forget the previous intel ceos that weren't quite successful i like your comparison, though, to, you know, the -- the employ that comes back and perhaps has something to prove i know that you've known pat gelsinger a long time and even suggested he might be a good fit for this job years before it was official the question i keep coming back to, jon, is -- the outsourcing of production of the chip how important is that? we don't have a lot of detail. on one hand, reddit could close that manufacturing gap that has

you have the largest custom of intel. intel announced plans. they are going to be spending billions of dollars on new factories and creating a foundry business, that has really rocked the semiconductor chip sector. we saw tsmc for example losing ground because that would compete with intel during late u.s. trading. samsung electronics is a stock you have to watch in south korea. these are the ones in japan. haidi: the -- let's say intact because tencent is set to report for corner earnings ending a financial year, seeing stocks double. the recent pressure on shares came amid a broader drop and tech stocks and fears that it could be targeted by beijing's tech crackdown. here is a look at the chinese giant's rise and what comes next. >> tencent as -- is china's most profitable company. to understand how it got here, a quick glance at its past. founded in 1998, it turned profitable within three years and by its ipo in 2004, had amassed more than 290 million users on its instant messaging service and online games platform. its biggest turning point

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in terms of betting on a turnaround intel or ibm nathan >> intel no doubt about it. you have a very clear focus on what was wrong and how to gain back that market share you have valuation support you have a good balance sheet. you have really constructive activists there. i'd much rather intel. >> guy, ibm has gary cohen >> i'll take ibm just to get dan mad at any i like salty dan better than easy dan they're getting into the right businesses they're not doing a particularly good job, but if they can somehow figure out to get decent growth rates, not akin to the -- talk about a stock that could do higher from here so i'll play the ibm card on this one >> we'll keep you posted out of the call we will tell you how our traders are trading the breakout there's something brewing in bond land. we'll break down the chatter around a 15-year treasury note first, the promising news offee live lilly that sent the stock to an all-time high when "fast money" returns does your vitamin c last twenty-four hours? only nature's bounty does. new immune twenty-four hour plus has longer

we are the intel inside. our goal is to power whether it's commerce disruptors, large merchants and large issuers. they have seen what we've done with square cash and after pay and door dash so they're coming to marqueta and leveraging our platform to do that. >> give us a sense -- good morning. it's jon fortt give us a sense of the longer term vision of the types of transactions that you can accelerate, that you can enable, the friction that you can take out of the system by doing both exactly what you're doing now and different extended versions of what you're doing now to enable new commerce. >> the platform leverages visa and mastercard they have interconnected every merchant in the world. digital banks and it's not just an american or european phenomenon, it really happens around the world so as we see companies and entrepreneurs building in their specific country to service these constituencies, we're seeing new business models or existing business models being grown around the world and marqueta really

intel. way. q. so what we've got to do is identify the threats that we have it's crazy confrontation let it be an arms race based on often spearing dramatic development only mostly i'm going to resist i don't see how that strategy will be successful very critical. to sit down and talk. welcome back to the kaiser report i'm max keiser time now to turn to john he's a filmmaker he made the film bella he's also a retired cat attorney and financial analyst john welcome back thanks max good to see you again oh all right john so you filed a freedom of information request with the federal reserve bank what information are you seeking from there why are you seeking it and what has been the response i am after a memo that was drafted in 2009 by the staff and is simply referred to in transcript as the staff there was a 2009 meeting in june during which time the federal reserve f o m c was discussing how do we reduce the balance sheet because now we've undertaken the expansion of balance sheet we started quanti

pat, you are an old hand at intel before going to vmware how has intel changes and how do you have to change intel to be back where it was when you left, where we know it was the world leader >> well, hey, thanks, jim. it really has been, i'll say, it's been my dream job and after my 11-year vacation, as i have called it, and eight great years as the vmware ceo, being back is really a thrill. and you know, the things i have laid out, i said four things we need to do, exculate, execute, execute. we have the have the discipline, the process execution, every aspect of it, leadership products in every category we're in have the innovation engine alive and well and finally, rebuilding the culture. and as i have come back, you know, all of those have sputtered a little bit there have been execution issues, well reported. some of the challenges in the innovation and our process technology we have to get that back on track. you know, we're an industry category creator we have to have that innovation, and as i called it, the grove culture. going back to andy grove, my mentor for 35 years, gett

guy adami, karen finerman, and intel, snap, and twitter intel and snap just kicking off and we are dialled in and ready to break down the big headlines. didi falling another 10% and the leading headline out of china that had investors slamming the brakes and later, gushing with opportunity. one top technician says it is time to hit the buy button on big oil and the two names he is hitting. we start with a pair of social climbers snap's call just getting under way and let's go straight to julia boorstin who has all of the details. julia? >> melissa, let's stat out with twitter with 74% growth and revenue and earnings per share more than double what analysts estimated and the user growth of 7 million was right in line with those expectations, but the company guided to higher revenue than projected and our range between 1.2 billion and 1.3 billion also saying that it expects head count along with total costs and expenses to grow 30% or more and that revenue will grow faster than those expenses >> i spoke to ned segal and he told me that twitter grew and in the coming quarter, he will have mor

. >>> and a moment of truth for intel. gaga for google. one less player in the smartphone wars and welcome to e-commerce baby boomers. let's begin with the markets it does look like at in stage you're seeing markets relatively flat for the second as stocks continue to march higher because of those valuations. the dow down about 19 points at this stage unchanged for the s&p 500. and out performance in the nasdaq we'll talk more about that in a few moments here stocks are continuing to march higher valuations are now being called into question with words like bubble and euphoria, overly optimistic check this out facebook, netflix and alphabet over the last week, a resurgence of faang stocks. those stocks are up 10% in one week for facebook. 14% for netflix, and alphabet up 10%. contrast that to the value oriented sectors oil and gas etfs, xop, down 5% oil services etf down 8%, 9% the bank etfs, we had a big week of earnings here, that bank etf is down for the week are investors going back towards what worked other the last several years? tha

intel will spend $20 billion to revive manufacturing and take on tsmc. intel shares jump. we will speak to the ceo later today. very good morning to you. it's wednesday, midway through the week. we are seeing a risk off tone in the market and demand for haven's coming into play. down day on wall street, bleeding into the asian trading session. msci asia pacific down 1.5% along the euro stoxx 50. one outlier is the nasdaq. potentially a reprieve in tech earlier today. we have a strengthening of the dollar. vaccines and the virus very much in play on the content. that's not happening any strength to the euro. the 10 year yield raking below 1.6%. the yield is down for a third straight day. we are closing in on the 20 day moving average. strong demand on the 2-year note. today will be five years on the chopping block. we heard from jerome powell yesterday. he sees prices rising this year but played down the risk that would spur unwanted inflation. he said that pent-up demand and a low base will cause a temporary bump in prices. he testified along with janet yellen on the gover

they know what the intel community gets to know. he does not rise to that location and should not serve their. democrats should vote with it. it's not personal about him. >> and to be targeted. >> i cannot talk to you about what i was given in a classified briefing. but i believe even what you know from the public domain , in the public domain in the private sector he cannot get a security clearance. that should be the basis of whether anybody can even apply to be on the intel committee. >> what you know in the public domain he could not get it today. >> if he doesn't have any cooperation. >> i cannot tell you what i was briefed in a classified briefing. what is in the public domain he does not rise to the occasion to get a security clearance in the private sector. you cannot get security clearance in the private sector you should not be on intel committee. as easy as that. you need a classified briefing but that criteria he should not be able. i would not appoint a republican to the intel committee that cannot get a security cleara

i'm scott wapner the big shake-up in intel and the fallout for that company, its competitors and of course, your money we debate and discuss it with your investment committee and john teranova, and sarat, and let's go to the wall the dow is not doing that much and down by more than four and the nasdaq the big winner and down more than one-half of 1%. following news its ceo bob swan is leaving you see the stock is up by better than 7% pete najarian, i'm going to you because you're my guy on intel the market obviously likes this news i'm somewhat surprised to hear in your notes today that you're considering trimming the stock, not buying it today. >> and i have. and i have, scott. i trimmed some stock i also bought calls yesterday because we had some unusual option activity at the market rebellion site and those already reacted and obviously they would react and the stock was up 10% or earlier as it got up over 60. my hesitation right now, scott, is this. how long will this take? what kind of a turnaround is this going to be it's a new ceo how fast can things move a great example is to look

intel will be in malaysia for 50 years, by 2022, next year. this investment is a testament that malaysia has the ecosystem and the people and the talent that intel is looking for to ensure success of its investment. haslinda: the big question is whether this will make a difference to the chip supply crunch. guest: i think this will help the chip supply crunch, because many companies, including intel have invested in the front-en d, and they have to balance that capacity with the back-end. factories will be up at the same time. rishaad: the thing is, you have the crunch now. investors have to deal with that because it will take a few years to bear fruit. give us a sense of how long it will take, and what kind of chips are we talking about, are they high-end ones for the low-end chips that will be manufactured in malaysia? wong: intel is all high-end chips. to build a factory takes two years normally. it will come online in about two years. not immediately. but immediately, most companies, not just intel, but everyone in malaysia, is running at

intel. take your prick away. one else choate's seems wrong. just don't hold. any. get to shape out these days comes to educate and in the game equals betrayal. when so many find themselves worlds apart. she still looks for common ground. americans love buying homes. and this was a fundamental part of how our political leadership and our country at large understood the bargain you get a hope and then you know rebel right as the things you don't revolt if you have a stake in the system. be really interesting to dial it back and think about the longer deeper history housings men in the united states not just that old question of the american dream but the bigger question of who the dream is and for . welcome back to the kaiser report i'm max keiser time now to turn to john hiatt he's a filmmaker he made the film bella he's also a retired pat attorney and financial analyst john welcome back thanks max good to see you again oh all right john so you filed a freedom of information request with the federal reserve bank what information are you seeking from them why are you

you own intel. you almost sold it because you were frustrated at where this company was going. gelsinger now says it is back. are you a believer >> yeah, that's right, scott, we did almost sell the position i think the important thing here with this story is that we need -- you know, we needed a new leader in place, which we have, and we need a solid plan and an execution on that plan. now that's the piece that remains to be seen, but i think having a solid plan in place with the hope of executing on that plan is a big part of the story here and what was lacking before so i think that's obviously gone a long way in terms of providing stabilization to the stock it certainly performed quite well, but now i think the rubber needs to meet the road and we need to see execution on the plan from here on out. but we are certainly encouraged by recent developments. >> all right it is named a fresh pick today at baird they reiterate their outperform rating price target is $85. that represents a 33% upside i h

i will be speaking with the intel co friday. catch our interview friday at 10:30 and we will put those questions to pat himself. speaking on earnings, we want to touch now on snap, shares tumbling as much as 28% on concerns about the company's end business and apple software update, limiting targeted advertising. what is your take on what's happening with snap? this is after a pretty buoyant quarter last quarter. >> all of us in the investment community, probably a little bit of headwinds from supply chain and other macro issues. i think it has amplified as the quarter has progressed. the big question is reaction to snap, is it because of snap or is it because of the entire industry? we will know more after the report next week. right now it seems to be not just snap standing alone on an island. it's across the industry. emily: other companies like facebook have indicated they will be feeling the same pain as well. facebook is facing a slew of negative press. i wonder how much of facebook's pain could beat snaps gain? >> i feel

very exciting there at intel, but does it change intel's long-term outlook? plus, an exclusive interview with the ceo of baker hughes find out what he thinks of today's spike in crude prices and where he sees global demand for oil. >>> and a working lunch with the nasdaq ceo how she's bringing some stability to these volatile testg rss. inreinpeon ♪ ♪ ♪ digital transformation has failed to take off. because it hasn't removed the endless mundane work we all hate. ♪ ♪ ♪ automation can solve that by taking on repetitive tasks for us. unleash your potential. uipath. reboot work. every day in business brings something new. so get the flexibility of the new mobile service designed for your small business. introducing comcast business mobile. you get the most reliable network with nationwide 5g included. and you can get unlimited data for just $30 per line per month when you get four lines or mix and match data options. available now for comcast business internet customers with no line-activation fees or term contract required. see if you can save by swi

give us a bit of an idea into what intel is actually doing. haslinda: $20 billion to create new factories, create a foundry business that will make chips for other companies. that will put it in position to regain its manufacturing crown. debbie wu is in taipei. why this, why now? >> we have seen intel, asian rivals including samsung, when it comes to manufacturing technologies. the new ceo unveiled earlier today the ambitious bid. when you see that intel will spend an initial $20 billion on two new plans to support attempts to break into the foundry business. intel says it is planning even more factories, and the majority of the chips will be manufactured in house. at the same time, intel is also erasing -- is also raising its chemical expenditure. we are seeing that the new ceo seems to be setting a model of spend, spend, spend for leadership in the chip manufacturing field. rishaad: there are big challenges here. for one thing, plans to get into the foundry business is not actually easy. debby: intel's new plan to break into the foundry spa

intel and ibm off sharply. ibm off at 7.5%, intel off at 4% dan ives joining us. ibm a fourth straight quarter of revenue declines biggest revenue decline. big blue saying it does expect revenue growth in 2021 we've had this conversation before about this idea of empty calories or real calories that are being lost here and when you look across some of these numbers, there are some real calories in there that are being lost, not just the empty ones. >> yeah. it's another black eye for ibm especially in the cloud. when you think about what's going on, look at microsoft, aws, ibm has continued one step forward, two steps back. even though new ceo, new strategy, this is just continued share loss situation i think it's troubling for the street especially in terms of what you're seeing with the trillion dollar cloud market under their nose it's an ever slight uphill battle with cloud and i think you saw that last night. >> you look at the red hat business, that business was down, not up what does that say in this environment? >> did they bet on the wrong horse? and i th

he eventually became intel's chief technology officer he was forced out of intel 11 years ago out of a leadership transition i asked him about those pennsylvania roots >> it was very much this highly, you know, homogenous germanic pennsylvania-dutch farming community, hard work a lazy day was you didn't have to get up to milk. you could sleep in until breakfast at 6:00 a.m. as opposed to being in the barn at 4:00 a.m. hard work. one time i was with all of my uncles my dad was one of ten. and they're all around at a family reunion i look at the table. not one of my uncles has all of their fingers. you talk about hard work it's like, yeah, this is hard work but it was also this deep values-based environment where a firm hand shake, your word was the bond >> well, as intel's ceo, it's a good thing pat is familiar with hard work because turning intel around is going to take a lot of it, if it's even possible. wall street is giving him almost zero chance of success now about a 15, 20% stock surge away from equaling intel's market gap his turnaround plan, yes, it's audacious. he laid it ou

s of several companies including intel qualcomm a.m.d. and other members of the semiconductor it industry association wrote to the new president stressing the importance of increasing domestic chip production quote semiconductors enable the technologies needed to realize your build back better goals including smarter and safer transportation greater broadband access cleaner energy and a more efficient energy grid while also providing high paying jobs for americans and strengthening our advanced manufacturing base we therefore urge you to include in your recovery an infrastructure plan substantial funding for incentives for a semiconductor manufacturing and the form of grants and or tax credits and for basic and applied semiconductor research where max and i grew up in america this is what we used to do this is what the comp in the country was built on these giant manufacturing scene who hired americans on good wages spent a lot of research and development was always ahead like these other technologies a list that if you want to dump. any

intel over amd i'm long intel haven't been happy with the path forward and a lot of the news flow and i think texan over amd, as well but intel over texan and it really a function of both. i think the story line at intel is far from exciting and bullish but this is still a company that had a record top line year in the last fiscal year and as enormous cash flow so there is a lot to fix there they're going to fix it. i think the story at texan is yeah, a little more commodity and higher multiple. i think that's why we play would you rather rather. >> favorite chip stock, dan? >> i'd say intel and i think that, you know, often times, you know, you hear that old saying in the markets about buying low, selling high you know, we've been conditioned over the last few years to buy high and sell higher everyo every once in awhile you have a good opportunity to buy the value when the sentiment is poor in front of some sort of big fundamental shift whether it be secular or whether it be relative to execution and i think that's probably where intel fits right now so i think somewhere in the mid

a lot of turmoil at intel at the top. intel has been losing market share to a&e back in the summer intel's latest generation chips were delayed while amd was already on the market, that was a real black guy and on top of that you may remember the 15 year partnership with intel announcing we use its own chips inside. >> computers. activist hedge fund investor dan has a billion-dollar stake in intel, he has been criticizing the company for its loss of manufacturing leadership but following the news of swans exit he called him a class act saying he did the right thing by stepping aside and said he did the right thing but all stakeholders by letting pat come in and take over. intel says it expects fourth-quarter 2020 revenue and earnings to exceed prior guidance but that is a separate issue, job number one will be to fix the companies manufacturing woes. liz: yes, always, you've got to get in there and be the operations guy and the chief cheerleader trying to get the staff on board, thank you very much, the ceo at the center

$50 billion who knew that was buried within intel. which is one of the reasons why i'm happy we have pat gelsinger. you are a delight. you always come up and have something interesting and new. this is one i think that basically tells you that this company, $200 billion, is clearly undervalued. you had mobileye buried within >> thanks, jim we definitely see the opportunity to bring mobileye forward in a big way clearly this is an opportunity for visibility with mobileye, visibility to the market and shareholders visibility to the customers and increasing the visibility to the talent that we want as part of this great unit. today's an exciting day as we roll this out and obviously bringing it forward next year we think will be a great opportunity. this is such a unique asset, jim. it really pioneered the category and it's evolving to l-2, l-2 plus it's a powerful capability every car we believe will become av looking forward and this is the asset that will make av happen at scale. >> you have some great clients, bmw. ford that be a hug

it wasn't such a great report for intel. what do you think about the stock here >> look. to me, the stock's going to bounce because they all bounced. you have a new ceo coming in he should, if he's smart and he's supposed to be smart, kitchen sink the next quarter and start clean and he's got a chance to do it, but this was actually a better report for taiwan semi, and tsm than it was for amd because they say they're going to outsource so they've had virtually every large tech company say they're going to outsource and who are they outsourcing to? taiwan semi. intel will not catch up to taiwan semi or the market leaders in our investment lifetime it's just not. give up the ghost and move on to something else find some growth and don't find damaged goods that you're hoping will improve the culture is cut and dry, it's there and staying there. >> i have to let you respond to that, jenny. i don't know if weiss is speaking directly to you, but he is certainly speaking to optimistic investors who are trying to stay the course. wa

intel. it has to come back around the stock has come up the last couple years far less than most of the rivals, joseph that is the problem. leading to the peak 20 years ago. intel still hasn't gotten to the highs of 1999 or 2000 which sounds incredible. is gelsinger the guy to do it? he was on with jim cramer last night. he is optimistic can he run the business? >> i think he is really excited. this is his dream job. i think he is bringing a sense of enthusiasm back to the employees. i think intel has been a little bit demoralized the last couple years. he is bringing that enthusiasm back he is aiming at a wider scope. not just looking at the core businesses, but building new business i think investors have trepidation about that it will take time. there will be investment and i think it is very important you get the employees to be confident and enthusiasm built in to your point, he has to execute. he has a track record of doing that at intel and other companies that have a lot of credibili

so he's canceling his brand new master deal with intel now. so there's a lot of money on the line for them. ok, and so would it sounds like intel would rather turn a blind eye to accusations of, of genocide in gene jack for the sake of that this, this massive market. yeah, i think i think they don't really want to acknowledge that because there is so much at stake for them. and it's really not just intel, we're seeing a lot of western companies, really, any company that has a major stake and china face the same issues. we've seen this earlier this year with a de does with nike with h and m, where they've made comments about the potential for the labor engine jong and been absolutely blasted on social media. h an m last about 40 percent of their market share in china after that. so this is a really big stakes for these companies. and for a lot of them, they just aren't willing to, willing to take that risk. so they just don't want to talk about it because this is really their biggest and most important and potentially fastest growing market in