we know they've been behind on the latest chips pat gelsinger made a big bet, can he pull it off that's thing, you won't know for years. >> i don't know that you won't know for years this is the most fascinating potential turnaround in tech right now because semiconductors are like the most complicated thing that humans build. so it's really hard -- intel would argue that they're going to be able to regain product leadership before they regain process leadership and before this whole foundry strategy pans out. that's what they're arguing right now. have they been perfect in execution? far from it. but if they're right about that, that's certainly different from what's being priced into the stock and the market investors saying this will take years. i think your over or under has to be based on whether the technical minds at intel can pull off great products -- >> and now they have a great technical mind leading it in gelsinger. if you missed part of the show, listen to the latest podcast tech check is back in just a moment erent kind of wireless company... ...running on a big impressive

you had pat gelsinger in there to lead a turn around.t hasn't executed yet you mentioned retail investors realize it takes professional investors several quarters to build position in stocks what you are starting to see is people revaluing the assets. they valued to the moon in that november last year and got too depressed about it now clear view of which companies will make it through we are going to talk about these companies in the second half of 2023 and 2024. >> richard, is there one name you love ten years from now? not tomorrow or ten weeks or ten months, but ten years? >> it will face headwinds in the advertising business what company in the u.s. has a larger data center or bigger asset pool in ai than google it is spending huge in r&d it is talking about pausing or slowing down hiring. it is not pulling back spend you don't see a lot of $100 billion net cash to make it through the scenario one other one everybody was bearish on apple we kept it as a buy. that is a well managed company it is exposed to slower consumer spend. that

. >>> and spoke to ceo pat gelsinger friday. >> we have our best pc product line in at least five years, alderlake, ramping meet your light customers soon, eraptor lake next year meteor lake, very strong product line and also see ourselves as a share gainer even as we go through some turbulence in the marketplace. overall comfort and as we said on the call yesterday, this is the bottom we're rebuilding from here. >> hmm so is this really the bot jum our next guest calling intel's q2 worst he's seen in his career and expects things t ss ss to ge before they improve. joining us, an underperform rating on the stock, stacy, i mean, whoa that was bad right? from -- >> bad, yeah. >> from around $18 billion to more in thes $15 billion range but drawing down inventories ahead of q4, product road map looks better why do you not buy it? do you think demand is deteriorating faster than pat is counting on? >> i mean, demand is clearly deteriorating. that's without question. inventory question is another good one we've been making this point for a year almost. they were over-shipping, especially not

. >> when do we find out as investors whether pat gelsinger's strategy is night e right? even if it takes two to three years to pan out, is that when we find out? do we find out sooner? if we know sooner than the results come in, we would expect the stocks to react sooner >> yeah. look, if the problems didn't just start in the last two years, i think they have been there the last five or ten years before this management team took charge but even despite all the problems, intel still has 80% market share in pcs. i think that is unsustainable when you have a competitor such as amd who is very aggressive, nimble, operating at the top of the game and on the other side you have nvidia, right, and broadcom and marvel leading the markets into many new directions and i think for intel to simultaneously compete with the best of the designers, which are the amd and nvidia, qualcomm, at the same time, i think it's an unsustainably tough problem. i think it's going to take a while for this to turn around >> okay. sounds like your answer is you don't think it's possible. but we'll see

intel from ceos here today, pat gel g gelsinger is here, he's going to break ground on the next semiconductor this fall. micron is announcing today that because of this law it's going to invest $40 billion over ten years to build factories and special chips called memory chips that store information on your smartphone. investment, this investment alone is going to create 40,000 jobs. excuse me, i'm sorry. and increased market share, memory chips by 500%. two more american companies, i'm going to take another sip of water. two other companies, global foundries and qualcomm announced yesterday a $4 billion partnership to produce championships in the u.s. that would otherwise have gone j overseas. qualcomm is one of the world's largest buyers of chips, is planning to increase its chip production up to 50% over the next five years. these companies see what i see. that the future of the chip industry is going to be made in america. for folks at home there was a broader supply chain that makes these semiconductors connect countless other small businesses and manufacturers. this law funds the entire

pat gelsinger saying the company will pull out of struggles after the third quarter.ing sales and profit forecast after posting week second-quarter numbers. revenue may slump by as much as 13% from 2021. >> we expected to be challenging. some austerity, we feel like this is the bottom, that is what we have communicated in the earnings call. we are off to the races to do better for ourselves and shareholders in the future. rishaad: let's have a look at ledger, bloomberg has learned this company which makes hardware while it's for crypto investors is in talks to raise $100 million in new funding. it values the company at $1.5 billion. warner bros. topping the weekend box office, estimated the film made $23 million in its opening weekend, lower than forecasts. the movie has a 71% approval rating on rotten tomatoes. juliette: wondering if you might have seen it. let's get to the hsbc earnings, they are coming up in a few minutes. let's bring in manus cranny. we were talking earlier today about the fact that there will be so many questions, what are you looking out for? ma

pat gelsinger getting out of the hole >> as you said, these plants take years and tens of billions told micron also making a $40 billion commitment over some ten-year period >> in the medium term or short term, they're not trying to buy anything because they want to get the inventory down >> right >> there's a conundrum about whether you buy asm. the answer is, i felt that gary dickerson answered a lot of questions on the amat call and the intermediate term is so bright for these guys. you just have to get through this short term period and you'll be really rewarded by owning that stock and by owning lamb research which i think will have a really good 2023, really good company, tim archer doing everything right the stock is off almost 300 points from its high, very interesting story there. >> obviously a lot of key customers. the big story today on apple is that they're trying to shrink the production window between china and india on the iphone 14 and of course ford, their massive ev transition, laying off 3,000 -- 2,000 salaried yesterday. >> i think what we're leaving out, a lot of

dreams of 1,000 acres in ohio where america's future will be built intel, the ceo is here today, pat gelsinger will break ground early this fall american company micron is announcing today that, because of this law, it's going to invest $40 billion over ten years to built factories, memory chips that store information on your masmart phone. investment, this investment alone will create 40,000 jobs -- execu excuse me, i'm sorry -- two more american companies -- i'll take another sip of water two other companies, global fine foundries and qualcomm introduced a partnership to produce chips in the u.s. that would have gone overseas qualcomm is one of the largest supplier of chips, plan to go increase production up to 50% over the next five years these companies see what i see, that the future of the chip industry is going to be made in america. [ applause ] for folks at home, there's a broader supply chain that makes these semiconductors this law funds the entire semiconductor supply chain for research and development, to key inputs like polysilicon manufactured by a fact tore in hemlock, new york