very different story from what pat gelsinger told us innall >> we see ourselves as a share gainer even as we go through some turbulence in the marketplace. so overall, we're very confident and as we said on the call yesterday, this is the bottom, we're rebuilding from here >> clearly with the shares down as i said 7.5% today, not the bottom, but could it be finally? the street's reaction today has been brutal. bernstein calling the quaub intel's worst earnings in their time covering the company. and then rosenblat says no words can explain the historic collapse of intel. guys, it goes from bad to worse. take a look at some of the other chip makers though, this is a very intel specific event, at least that is how the market is taking it. you have nvidia up a bit, amd wasn't down too much what has changed though from last time? that optimism, that is where we hear a lot of complaints, that he has just been too optimistic and you certainly didn't hear that last night. >> i tell what you has changed, demand demand has changed remember intel was among the first to say we have an inventory s

ceo pat gelsinger says demand is falling.> an thon the flip side, visap for the quarter. >>> and hasbro is down due to decrease in demand and announcing a number of layoffs. >>> and elliott management looking for salesforce board of directors. >>> kla is expecting to use existing inventory and the demand will slow are you seeing a trend by the way, sadly, new jersey based bed, bath and beyond warning it doesn't have enough cash to pay down the debt and defaulted on the credit line with jpmorgan chase. that stock up a little bit right now. overall, keeps falling $2.50. become a trader favorite the company basically saying they are going out of business be careful if you are trading bbby >>> all right. gearing up for the trading day ahead. personal income and consumer spending and core pce figures. all out today at 8:30 this morning. pending home sales data out at 10:00 a.m. a lot of earnings for friday american express and monster fl numbers from chevron and colgate. we are watching the musk shareholder lawsuit today and the s

you know, pat gelsinger warned everybody this was going to be a several year long turn around. i think part of the issue here is if you look at intel over the last year they've increased their capx expenditure substantially but they are just not getting traction i think they're losing some market share to the advanced micro devices of the world i would defer to matt on this because i'm not a semi-conductor analyst but that's just my impression yes, we still like the settlement conductor sector as well as you're willing to ride the ups and downs of this volatile sector but you have to be selective. >> no question they've been losing share, that's been a big part of the intel story, matt. the ups and downs have to do with supply chain lately for the sector as well so much hand wringing over the shortage of chips during covid and now we have a glut how bad is it and how much longer do you see it lasting >> that's a great question, sara, and i think that's what everyone is struggling with. so certainly in the space it feels like a lot of the inventory has gotten worked out, in the

eastern for more on those results with the man himself, intel ceo pat gelsinger.. >>> sticking with intel, kayla good morning. >> intel's decision to slash jobs and cut costs after a full-court press in washington to pass the chips and science act and unlock billions in subsidies for new plants and research administration officials privately acknowledge that to the average taxpayer, the timing of passing landmark legislation and holding flashy ri ribbon-cuttings followed by layoffs is not a good look micron announced they would have layoffs. behind the scenes there's a longer-term view and acknowledgment that the semiconductor industry runs on five to seven-year cycles. by the time the funding reaches these companies, they'll be increasing investment once again, or at least that's the hope so far the application process for the c.h.i.p.s. act funding has not yet gone live so intel and micron have not received this funding just yet. there are no strings attached that would require them to maintain a certain level of employment the only string is they don't invest l

we're going to talk to pat gelsinger, the intel ceo.s as well >>> and then we'll look at shares of chewy. the online pet products retailer is up 3 1/2, 4%, just around 15,000 shares of volume. helped along by analysts at wedbush. they raised the target price to 55 bucks it was 35 before they like chewy's ability to add new customers to its platform and profit markets chewy shares up 3 1/2 percent, up 6% over the course of the last 12 months that's pretty good in this market back over to you. >>. dom, thank you for that. >> stock market earnings and the chances for a soft landing for the economy. joining us now with more is liz young. head of advertisement strategy at sofi. any change to your sentiment after watching what has been a pretty solid january so far, liz. just sort of a relief rally, is that all >> look, it has been a solid january. it's been surprisingly resilient in the face of a lot of economic data that's pointing towards a slowdown that's not something that we can ignore i've sharpened my pencil many times this month and

revenue guidance came up short, and nco pat gelsinger saying the company is not going to give full-yearuidance because of the uncertainty in the current environment, expect the macro to continue for the first half of the year, and they have not provided specifics over the previous measures, that is something we are listening for. >> don't miss pat with more on 11 am, eastern time on cnbc. so bad they can't possibly give guidance for the full year but they will give horrible guidance, $4 billion on the revenue side. >> they are a month into it, they can guide the quarter, you can drive a truck through the guidance, let's be clear, they are most likely to come in on the revenue side, on the low end of the range, but this is how you try to put the bottom of the stock, continual restructuring, missing marketshare, execution on a whole list of things, as bad as it gets in the december quarter but talking about inventories being reduced, things that you probably want to make a bullish case, but at $26, and i'm surprised it is not at 26 to be honest, it's not one to pick out, you can see it br

ray: pat gelsinger is a skilled leader and if anyone can pull it off it will be packed. is a lot of work to be done. they have to get into the five nanometer and three nanometer chips. these are not easy to build. they usually take 3-5 years to get up and running. he is buying time by talking about where they will be in terms of their forecast for the near future. the spinoff has helped them to stay more focused on their core business which is getting chips out and the chipset companies want. tom: let's go to tesla. what a 30 days it has been. adding 50%. the context is it is still down about 40% over the last 12 months. how does tesla get from one hundred 60 dollars per share up to $200? -- from $160 per share up to $200? ray: when you look at what they are able to do and the capacity that every factory has, these factories are able to crank out millions of teslas and that is the important thing. they have vertically integrated battery operation to do that. the valuation of tesla is not just being a car company. they have imaging data to deliver on autonomous vehicles.

speaking of intel, do not miss an interview with ceo pat gelsinger tomorrow here on "techcheck."cse ayituslo 92% still active? seems high. seriously? it's just a bike. wait. they make a treadmill with an intuitive speed knob? yeah. want to try? 92% stick with it, so can you. rent a peloton bike or bike+. terms apply. >>> welcome back this morning chevron announcing 75 billion in stock buybacks and a dividend hike much to the display of politicians in washington, big oil companies are not the only ones buying back stocks in massive chunks. bob is back looking at what other programs stand out. >> teches and banks are doing a lot of buybacks as well. buybacks have become an important part of shareholder profits last year about $980 billion was spent on buybacks for companies in the s&p 500. about 560 billion was spent on dividends. big difference there wall street loves buybacks for two reasons it provides immediate gratification because the company is buying back shares on the open market, everyone can see it and the buyback can be adjusted down if the cash flow declines dividends,

declined 32% intel did warn it expects to lose more money as pc makers curtailed chip buying with ceo pat gelsinger saying they stumbled and lost mostmentum it lost growth in the data center division. the company did decide not to cut dividends, but investors are not liking the news. intel ceo will speak to the colleagues in the united states later today. tune in for that interview at 17:00 cet. >>> this has been the big data point. the u.s. economy growing at 2.9% in the final quarter of the year that is better than expected, but weaker than the third quarter. half of the boost from the sharp rise of business inconvveinvent. some likely unwanted consumer spending increased to 2.1% that is down slightly from the previous period. headlines suffered from residential fixed investment which plans to buy more than a quarter from the overall figure. this is what the u.s. markets look like as we head toward the open down is how we are looking today. it is an early read on these we are expecting to still see numbers come out a little later. american express set to come out with numbers chevron is interesti

i got to say, amd, right we had pat gelsinger on on friday just a terrible quarter from intel. and a lot of people wondering how much of that is the pc market overall adjusting to the macro and inventories affecting everybody. how much of that is intel specifically really it's possible that the inventory overhang that intel is experiencing could affect amd in that -- they have a lot of the same customers if these customers have a bunch of intel chips they need to burn through t could be affecting not just their purchase of new intel chips but also their purchase of new amd chips, no matter how much share amd might be prepared to gain. we'll get more color on that and how some of these -- some of these macro industry issues are affecting everybody, carl. >> indeed, guys. how should investors navigate this extremely important week for the markets? joining us this morning, cnbc contributor megan shue it's great to see you. i wonder how you're processing this month-to-date -- i don't know what you call it, short squeeze, unprofitable tech, last year's losers, whatever it is, has it

i want to play you this sound bite from intel ceo pat gelsinger when i spoke to him last week in davos mack he crow outlook. here's what he told us. >> i think the first half of this year will be pretty rugged. because china, covid. europe, energy and ukraine. u.s. inflation. when you look across the three major markets, i don't see any good news. had that said, we believe there could be second half recovery but again, these investments are for the second half of the decade. they're not for the second half of the year. that's why it's so important that you invest in downturns, something intels has always had at the center, knowing these are four, five, six year, factory ft buildouts. maria: what about that, he doesn't see any positive signs, no good news first half of the year. >> he certainly set up the fact that earnings were going to be a disappointment, no question about it. maria: he did. >> i was actually getting close to buying intel, until i remembered it was earnings day coming out. the numbers had that he showed, down, what, 10-cents per share earnings, adjusted compared to 2

tomorrow, chevron ceo mike worth and intel ceo pat gelsinger join us.rzman is here and new york stock exchange president lynn martin all joining us. thursday, bank of america ceo brian moynihan and cantor fitzgerald ceo howard lutnik will weigh in, our all-star lineup. it's all right yo here, on "mornings with maria."wi ey custe your car insurance... so you only pay for what you need! whoo! we gotta go again. only pay for what you need. ♪liberty liberty liberty♪ ♪liberty♪ your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire before & bath fitter. now's the time to call bath fitter to get a beautiful "after." with our unique tub over tub process, there's no mess or stress. bath fitter. it just fits. visit bathfitter.com to book your free consultation. ♪ ♪ ♪ every search you make ♪ ♪ every click you take ♪ ♪ i'll be watching you ♪ - [narrator] the internet doesn't have to be so creepy, th

actually started to gain a little bit of share in desktop and mobile, and the first thing that pat gelsinger, the new ceo about two years ago, go look, we screwed up by not moving to euv, which is an efficient but expensive way to make chips and we're all-in now. that technology gap that happened with regards to the tsmc, that's going to start to narrow and you're going to see that pay dividends going forward. the final piece of it is, pc demand, we've been saying this for, you know, 12 months, we looked at and said that's a pandemic beneficiary like smartphones, just like e-commerce, just like zoom, that's going to continue to collapse that was down 30% year over year for the industry in the fourth quarter. intel's forecasting their own revenue down 40% in march. i think that's the bottom. and don't forget, intel has a huge presence in china china has been locked down for three years. once that starts to open up, that should help them a little bit as the cloud vendors in china start to order again and the regulatory pressures come off. for us, intel is like our facebook call if you remember

tuesday, chevron ceo mike worth and intel ceo pat gelsinger join us.phen shwartzman is here and new york stock exchange president president, lynn martin joining us. thursday, brian moynihan and harold lutnick will weigh in. it's all here on "mornings with maria." the sleep number 360 smart bed. it's temperature balancing, so you stay cool. it senses your movements and automatically adjusts to help keep you both comfortable all night. our smart sleepers get 28 minutes more restful sleep per night. the queen sleep number 360 c2 smart bed is only $899 save $200. plus 0% interest for 24 months, and free home delivery when you add a base. ends monday the global drone market is $58 billion industry. volatus aerospace provides integrated drone solutions for commercial, industrial, defense applications and public safety, maximizing the potential of drone technologies around the world. volatus aerospace. maria: welcome back. well, the future lucky winner of the $1.35 billion mega millions jackpot may have to thank the treasury for the big payday. fox business'

bottom of the s&p, and yes, the worst performer on the nasdaq as well, and it's not just that ceo pat gelsinger broke horrible news for investors including swinging to a quarterly loss, a sales drop of nearly one-third and ugly revenue forecast for the current quarter but the chipmaker is losing market share to nvidia, advanced micro devices, and taiwan semiconductor, so while intel is negative year-to-date, amd is up 18% year-to-date, taiwan semi up 26% over the same time period, nvidia up 41% year-to-date. intel is not happening for them at all. we've also got positive inflation news and data on the inflation front, lifting market sentiment. we finally got the federal reserve's preferred inflation gauge for december. year-over-year, the core pce, personal consumption expenditure , which the core does not include the often volatile food or energy numbers, cool to its lowest annual pace of 4.4%. problem is the headline number rose 5% in december year-over-year after increasing 5.5% in december. yes it's down, but still up 5% keep in mind that's still 3% higher than the fed's target inflation ra

lauren: well, that's what i was going to say, because it seems like the ceo, pat gelsinger, has beenin street ain't buying it. [laughter] lauren: we're not buying pcs. >> i pulled up a 10-year chart, under this 25 it really starts to get dicey. it's a tough one. again, it had a nice reprieve during the pandemic. again, everyone went out, they bought pcs, everyone was working from home. but all of that sort of buying is fading right now, and, you know, the it's all about cloud. by way, hardware's always different than software anyway, and the sad thing about this is that there are components of the semi industry looking really, really intriguing the last few sessions. lauren: all right. we digress and talk toys. hasbro is cutting, usually it's a tech company, a media company, a bank. now it's a toy company cutting around 1,000 jobs, about 15% of their work force. so it's significant when you talk in percentage terms. they also warned that their upcoming quarterly results are going to be the weak. what do you make of -- you know, the president touts the economy, and you have another so

also the ceo of inthe tell is with us this morning, pat gelsinger will join me on the investments he'saking in the chip manufacturing business. you're watching "mornings with maria" live on fox business. we'll be right back. ♪ i said what about breakfast at tiffanies. ♪ she said i think i remember the film. ♪ and as i recall i think we both kind of liked it. ♪ and i said well, that's one thing we've got. ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq then i got the dexcom g6. i just glance at my phone, and there's my glucose number. wow. my a1c has dropped over 2 points to 7.2. that's a huge victory. >> tech: cracked windshield? make it easy and schedule with safelite, because you can track us and see exactly when we'll be there. >> woman: i have a few more minutes. let's go! >> tech vo: that's service that fits your schedule. go to safelite.com.

tomorrow, chevron ceo mike worth and intel ceo pat gelsinger join us.d lynn martin joining us. thursday, bank of america ceo brian moynihan and can tore canr fitzgerald president will weigh in. it's all here, our all star t lineup. we got this. we got this. we got this. yay! we got this. we got this! life is for living. we got this! let's partner for all of it. edward jones i'm frank siller from the tunnel to towers foundation. i'm here at the patriot awards to honor some very special people. gold star families and families of fallen first responders. after their loved ones died serving our country, there's a hole in their family. a missing spouse missing father or mother. but many are also left with the struggle of keeping their family home. we can't bring these heroes back, but we can help ease their burdens. here at the patriot awards, we are going to surprise them with a very special gift. we take care of our gold star families and our fallen first responder families. those who die for us and leave young families behind. i'm with 21 of these familie

pat gelsinger the ceo of intel was on with maria. he put it. >> it's becoming more digital and everything digital runs on semiconductors, so this is critical to every aspect of human existence and where the oil reserves are define geo politics for the last five decades. where the technology supply chains and semiconductors are located will define geopolitics for the next five. it's that important. >> great, thank you. reporter: and stuart take a look at the map. this is where some of the investment is going to take place. intel, for their part opening a plant spending $20 billion in ohio, taiwan semiconductors two plants in arizona, micron has got one in upstate new york underway, in clay, new york and in all it's 40 separate projects $200 billion in investment, 40,000 jobs they think. maybe that means there will be enough people making money to buy the cars that have the chips that, well, you know how that works, stuart. stuart: jeff as i understand it, the average car has 100 chips in it. i think that's accurate. that's why we need

jon fortt spoke to intels ceo pat gelsinger about the turnaround plan and he's here now. what is the big takeaway from the conversation >> it is a really rough quarter for intel. maybe one of the worst that intel has ever had and a lot of that has to do with the slowdown in demand for pc's and the inventory build up that happened before that came along. i asked him about that this morning. >> well we've seen krcustomers carried a fair amount of inventory in q3 and q4 and back to school and the holiday refresh. as they come into the new year and the macro situation for their business major inventory adjustments. we're selling into our customers well below their sellout rates in their businesses so it is the biggest single quarter of correction in the market place in our history thatwe could look back as we see our records. >> so chips and inventory. and what does this all of this mean think about it like this it is as if you and your spouse are in the midst of this huge remodel, like practicicly rebuilding your house. huge capital you're already spending the money on the c

say i mean, you know, the hp, inc., unfortunately at the end of february but again, i think that pat gelsingeresn't describe how it would end. so, he basically says, we have back-to-school no kidding the fact is that they keep pumping. they haven't cut back production they haven't developed the right chips for the next generation. and remember, it's not just amd. nvidia is the trojan horse of this period, which is that everyone thought they were just working on gaming chips, but they're really high-performance chips and it turns out, i would call them thp, too high performance, because the u.s. government has to figure out how not to get the best ones in their hand they make a little bit on every chatgpt. nvidia makes a little. have you been playing with that? >> chatgpt i have not been. >> you can say an ode to -- we've done every single eagle. there's no more left >> i did read maureen dowd's column yesterday in which she had shakespeare. >> one of my colleagues, heather gaines, was at the game yesterday, asked me, said, jim, who do you want to interview and i said, i would like to interview