Stakes and the Chips, Palantir Hits Bear Territory, Target Picks a New CEO 8/20/25

Squawk on the Street

CNBC

Investing, News, Business

4.1 • 567 Ratings

🗓️ 20 August 2025

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

With the tech sector extending Tuesday's sell-off, Carl Quintanilla, David Faber and Mike Santoli discussed semiconductor stocks under pressure -- on a report which says the Trump Administration is looking into the federal government taking equity stakes in chipmakers that receive CHIPS Act funding. Palantir hit bear market territory during Wednesday's session: This year's best performing S&P 500 stock down 20% from last week's record high and on track for a six-day losing streak. Target shares also slumping after the retailer posted quarterly results and named COO Michael Fiddelke to replace Brian Cornell as CEO in February 2026. Find out what both executives told Sara Eisen about Target's future. Squawk on the Street Disclaimer

Transcript

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0:00.0	It's Jim Kramer here. You're listening to the opening bell of CBC Squawk on the Street.
0:04.7	Don't miss a minute of the action. Good Wednesday morning. Welcome to Squawk on the Street. I'm Carl Kintanilla with Mike Santoli, David Favittier here at post-9 of the New York Stock Exchange. NASDAQ futures are red again as we keep our eye on this wobble in tech coming off the worst day for high beta momentum since April.
0:21.6	Retail earnings are busy, Target, TjX and Lowe's Jackson Hole begins.
0:25.6	A robot, though, begins with the Trump administration, reportedly eyeing stakes in other chip companies that received funds from the chips act.
0:32.6	We'll talk about what's at stake for them.
0:34.6	Plus, Target shares are tumbling after a sales fall again. The struggling retailer also announces who will be its new CEO.
0:41.3	And of course there is that slide in some of the big tech names, chips, momentum in particular,
0:47.3	some of the biggest gainers turning into big losers, even some of those crypto back companies.
0:52.3	We're going to talk about all of that and that
0:55.0	rotation with who better than Mike Santoli. Speaking to which, let's begin with the U.S.
0:59.9	government reportedly considering taking stakes and other chipmakers besides Intel. We talked to
1:04.4	the Commerce Secretary about this yesterday. A lot of ongoing churn debate about what it means when the government starts literally picking stocks.
1:14.3	Looks like it's adding to some pressure on things like Micron before the open.
1:18.5	Just this what if question of, you know, if you're going to start to claim equity stakes just for funds that were appropriated by Congress in the last presidential administration.
1:29.9	It's just hard to know how to draw the lines.
1:32.2	It's also hard to know how to separate out what's going on with some of the chip stocks
1:35.6	with this broader reset in the market, the rethink of AI momentum and things like that.
1:42.0	But it is worth asking the question.
1:43.3	First of all, Samsung and Taiwan
1:44.7	Semi, they're not U.S. companies. We don't know exactly how this might work. But it's worth keeping
1:50.8	in mind. I mean, also, I don't know, I just looked on the Department of Energy website. There's
1:54.6	$97 billion allocated as part of the infrastructure and inflation reduction act. It's still out there
	...

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