Intel Soars After Hours, and Apple’s iPhone Concerns Description 9/16/24

CNBC's "Fast Money"

CNBC

News, Investing, Business

3.9 • 1.3K Ratings

🗓️ 16 September 2024

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Intel jumping after hours after the company announced an expanded partnership with AWS and new plans for its foundry business. What the CEO had to say about the news. Plus shares of Apple in the red, as weakening demand for iPhones weigh on the tech giant. How shorter shipping times are a signaling trouble for the company, and how it could impact their upgrade cycle. Fast Money Disclaimer

Transcript

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0:00.0	Live from the NASDAQ market site in the heart of New York City's Times Square.
0:05.8	This is fast money.
0:06.8	Here's what's on tap tonight.
0:08.0	A record-breaking day, the Dow's oriented new height as the Fed gets set to decide whether to go big with its first move on interest rates.
0:14.8	Could a 50 basis point cut really happen or is this just a Wall Street fantasy?
0:19.2	We'll debate that.
0:19.8	Plus breaking news, Intel landing a big new customer, Amazon, and the two companies will
0:24.7	co-invest in a new chip for AI computing. All the late breaking details coming up
0:29.2	and later an old tech favorite hitting another record cruising to a record high despite travel
0:33.9	slowdown fears and get back to work inside a new edict from Amazon. I'm Melissa Lee
0:39.1	coming to you live from Studio B at the Nasak on the desktop night. Tim Seymour
0:42.3	Karen Finer, Misty Grasso and Gaiadami. Studio B at the Nazac on the desk tonight, Tim Seymour, Karen
0:42.6	Feiner, Ms. Cepraso, and Gaiadami.
0:45.1	We're going to get to the record market close in just a minute, but first we
0:47.8	start off with Intel.
0:49.1	That'sock is jumping almost 8%.
0:51.1	Right now after announcing an expanded partnership with Amazon Web Services
0:54.6	saying it would create a separate entity for its foundry business, a move that would
0:58.6	allow it to raise outside funding. That is on top of a 6% gain during the regular session after the company
1:04.9	solidified a three and a half billion dollar deal with the Pentagon. John Ford just
1:08.7	spoke with Intel CEO Pat Gelsinger last hour on the OT.
1:15.4	This is a big announcement today. Amazon's been a partner of Intel for many years but we've just taken it to a whole
	...

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