Closing Bell Overtime: Intel CEO Exclusive, the case for a 50-basis-point cut, Apple’s supply and demand question 9/16/24

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 16 September 2024

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Intel CEO Pat Gelsinger joins for an exclusive interview after a slew of news, including billions more in CHIPS Act funding, an expanded partnership with AWS, and a plan to set up a separate internal governance structure for its foundry business. Evercore ISI’s Julian Emanuel discusses the prospects of a 50-basis-point rate cut at this week’s Fed meeting. Bank of America Securities analyst Wamsi Mohan talks about demand for the latest iPhone Pro, as Apple’s stock takes a leg lower. Plus a side effect of the Fed decision that could add cash to Americans’ wallets, and the latest on the historic Polaris Dawn spaceflight.

Transcript

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0:00.0	That's the end of regulation.
0:03.0	Lemonade ringing the closing bell, the New York Stock Exchange,
0:05.3	first citizens bank shares doing the honors at the NASDAQ.
0:08.1	Well, Fed decision week kicking off with the Dow,
0:11.3	closing at a new record as investors question just how big the
0:15.4	cut will be on Wednesday though the Nasak notably lagging dragged down by
0:19.6	Apple that's the scorecard on Wall Street but the action is just getting
0:22.3	started welcome to closing bell over time I'm Morgan That's the scorecard on Wall Street, but the action is just getting started.
0:22.8	Welcome to Closing Bell over time.
0:24.4	I'm Morgan Brennan with John Fort.
0:26.2	And we will have a major interview coming your way.
0:29.0	Intel CEO Pat Gelsinger joins us exclusively after news today that the company will receive up to
0:34.2	three billion dollars more from the CHIPS Act to make Senate conductors for
0:38.0	the government news that sent the stock to the top of the Dow today up six
0:42.0	and a half percent.
0:43.0	Military contracting plus we will talk to Bank of America's Apple analyst
0:47.2	about the pressure on that name today.
0:48.9	His reports circulate about potentially softer demand for the newest iPhone pro.
0:54.0	But let's break down today's action first
0:56.0	with our first guest joining us now
0:58.0	is Julian Emanuel from Evercore ISI.
1:00.0	Julian, it's great to have you today.
	...

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