Intel (INTC 1.48%) hired a new CEO, and the stock jumped by over 10% after the announcement.
The three microchip manufacturers in this analysis all share the same attitude: that they are looking to rise in the Monday session according to premarket trading.
The chip company's shares were gaining early Monday as more details emerge about new Chief Executive Lip-Bu Tan's plans.
Intel's incoming CEO Lip-Bu Tan has considered significant changes to its chip manufacturing methods and artificial intelligence strategies ahead of his return to the company on Tuesday, two people familiar with Tan's thinking told Reuters, in a sweeping bid to revive the ailing technology giant.
Ed Snyder of Charter Equity Research dismisses reports that TSMC has pitched an Intel foundry joint venture to Nvidia, AMD and Broadcom.
In today's video, I discuss Intel (INTC 1.48%) and recent updates impacting the semiconductor market. To learn more, check out the short video, consider subscribing, and click the special offer link below.
Intel CEO Lip-Bu Tan will receive total compensation of $1 million in salary and about $66 million in stock options and grants vesting over the coming years, according to an SEC filing on Friday. Tan was named CEO of the chipmaker this week, after Pat Gelsinger was ousted in December.
Intel (INTC) concluded the recent trading session at $24.05, signifying a +1.48% move from its prior day's close.
Intel is facing tough times after its stock plunged 60% in 2024 and it ousted its CEO Pat Gelsinger. Lip-Bu Tan has been tapped as new CEO for the semiconductor company as it has struggled with both chip manufacturing and chip designing.
Chipmaker Intel's new CEO Lip-Bu Tan will receive an initial base salary of $1 million, the company said in a regulatory filing on Friday.
Intel stock surged after Lip-Bu Tan was announced as the new CEO, given his semiconductor expertise and venture capital experience. Intel trades below book value, presenting a buying opportunity if Tan successfully focuses on cost-cutting and efficiency improvements. Key areas for Intel's recovery include increasing profit margins, providing clear Foundry guidance, and gaining market share in AI inference.
No one is expecting a miracle overnight. But investors and analysts are applauding the possibilities of new Intel CEO Lip-Bu Tan.