The semiconductor pioneer has appointed Lip-Bu Tan, a well-known tech investor and executive, as its new leader.
CNBC's Kristina Partsinevelos joins 'Fast Money' to talk Lip-Bu Tan taking over as Intel CEO.
Intel stock rallied late Wednesday after the chip giant named Lip-Bu Tan as its new CEO. The post Intel Stock Rallies As Chip Giant Names New CEO appeared first on Investor's Business Daily.
Intel (INTC) named Lip-Bu Tan its new CEO, sending the chipmaker's stock higher in after-hours trading Wednesday.
The former CEO of Cadence Design Systems, steps in as the semiconductor manufacturer has lost market share.
The move comes after Intel ousted company veteran Pat Gelsinger more than two months ago.
CNBC's Kristina Partsinevelos joins 'Closing Bell Overtime' to talk breaking news on Intel.
With a permanent CEO, Intel now has some stability. But turning around the design and manufacturing businesses won't be easy.
Intel appoints Lip-Bu Tan as new CEO, stock up 11%
Struggling U.S. chipmaker Intel on Wednesday named former board member Lip-Bu Tan as its CEO effective March 18, more than two months after the it ousted company veteran Pat Gelsinger.
"There's more value in this name than anyone is recognizing at this point," says Kim Forrest when asked about Intel (INTC). According to her, Intel's key catalyst will be its foundry business that's gotten the attention of TSMC (TSM).
Investors and consumers have all grown weary of persistent inflation, and the state of the economy has been top of mind on Wall Street and Main Street alike. There was finally some good news on that front, as the latest read on inflation was better than expected, igniting a broad-based market rally.