Intel CEO Pat Gelsinger on Q4 Earnings Miss, Salesforce to Add New Board Members & Previewing Meta’s Results 1/27/23

TechCheck

CNBC

Management, Cnbc, Tech, Faang, Investing, Business, Disruptors, Technology

4.5 • 66 Ratings

🗓️ 27 January 2023

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Our anchors begin today’s show with Intel CEO Pat Gelsinger as shares of the chipmaker plunge following a Q4 earnings miss. Then Bernstein Managing Director Stacy Rasgon offers his perspective on Intel’s quarter, and KKM Financial CEO Jeff Kilburg shares his outlook for Tesla. Later, our team covers Salesforce confirming plans to add three new board members, and RBC Managing Director Brad Erickson previews next week’s earnings from Meta, Alphabet and Amazon. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

Click on a timestamp to play from that location

0:00.0	You've been listening to see NBC's Tech Check. You can always catch us live weekdays at 11 a.m.
0:05.8	Welcome to Tech Check. I'm John Fort with Call Kingtonia and Deo Gebosa. Today on Tech Check, a dramatic tumble for Intel. That stock getting absolutely
0:13.8	pummeled in today's trade with some on the street calling it the worst
0:16.9	earnings in the company's history. Intel CEO Pat Gelsinger joins us in just
0:21.4	a moment on those dismal results and his outlook on where the company goes from here.
0:26.5	Plus why Tesla options are Wall Street's hottest new trade.
0:30.8	That stock is up more than 20% just this week. Big hour of tech check ahead,
0:35.8	D. It is indeed and we got to start with Intel because take a look at the stock you've been
0:40.4	likely seeing it on our screens all morning. It is the top laggard on the NASDAQ.
0:44.8	It was down as much as 10% now down about 7.
0:47.0	Let's dig into the numbers here.
0:48.9	Top and bottom line missed.
0:50.4	It was that guidance that really hit the stock,
0:52.3	weaker than expected, really across the board a very different story from what CEO Pat Galzinger told us in July take a listen
1:00.3	We also see herself as a share gainer even as we go through some turbulence in the marketplace.
1:06.5	So overall we're very confident and as we set on the call yesterday, this is the bottom.
1:11.3	We're rebuilding from here.
1:13.0	Well, clearly with the shares down, as I said, 7.5% today, not the bottom.
1:19.0	But could it be finally? The street's reaction today has been just brutal.
1:22.9	Bernstein calling this quarter Intel's worst earnings in their time covering the company,
1:27.0	Cowan left speechless saying, quote, that was indeed something.
1:30.6	And then there's Rosenblatt.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.