Intel’s Chips in the Heartland, Nasdaq Woes, & What’s Next in the Peloton Cycle

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 21 January 2022

⏱️ 37 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Nasdaq is firmly in correction territory, with Peloton and Netflix leading the slide downhill. Veteran investor Jeremy Grantham says there’s more to come, predicting a multi-asset bubble burst, resulting in a 45% decline in stocks. After CNBC’s report that Peloton would halt production of its products and concerns about insider trades in the c-suite, Peloton’s been on a bumpy ride. Its stock price returning to earth from the stratosphere could make it a good target for M&A, maybe even Apple. Plus, Intel is pouring $20 billion on two new manufacturing plants outside of Columbus, Ohio. CEO Pat Gelsinger and CNBC’s Jon Fortt discuss the news, the state of American production, and staying competitive on the global stage. In this episode: Pat Gelsinger, @PGelsinger Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Jon Fortt, @jonfortt Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:04.0	This is Squawk Pod. I'm C NBC producer Katie Kramer today on our podcast.
0:10.0	Look out Ohio. Intel is moving in with thousands of jobs and plenty of chips.
0:14.6	CEO Pat Gelsinger and his big bet on American manufacturing.
0:18.5	I'm the company that helped create Silicon Valley, right? The Silicon Forest in Oregon, the Silicon Desert in Arizona,
0:25.0	today the Silicon Heartland.
0:27.0	Plus, tech stocks further into correction territory is something bursting.
0:33.0	NFTs, meme stocks, fang stocks, real estate, the NASDAQ,
0:38.0	added up where everything is, it was insane.
0:41.0	And can the metaverse save Peloton?
0:44.7	It has been a rough ride for the fitness company,
0:47.2	but maybe Apple can help.
0:49.0	For a company like Apple, which is talked about doing connected fitness.
0:52.5	This would be, you know, we talk about pocket change,
0:54.5	it would be pocket lint.
0:56.4	It's Friday, January 21st, 2022.
0:59.5	Squawk Pod begins right now.
1:01.7	Stand Becky by, and three, two, one, fuel please.
1:06.7	Good morning everybody.
1:08.3	Happy Friday, which probably couldn't get here soon enough for anybody who was along the markets this week.
1:13.9	This is Squack Box and this is CMBC.
1:16.4	I'm Becky Quick along with Joe Kernan and Andrew Ross Sorkin.
	...

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