Intel CEO on Q2 outlook: Market is a little bit weaker

Intel (INTC) posted first quarter earnings revealing better-than-expected profit but a lower-than-expected second quarter revenue forecast. While the market's immediate reaction sent shares lower, the chipmaker promises more for the future as one of the largest recipients of CHIPS Act grants to expand US chipmaking capacity.
Intel CEO Patrick Gelsinger joins Yahoo Finance Executive Editor Brian Sozzi for Wealth! to give insight into the company's more cautious second quarter outlook, broader market weakness, and hot AI PC demand.
Gelsinger elaborates on what is in store for the future of Intel: "By 2030, we believe that will become the leading AI systems foundry and the second largest foundry in the world. A business that today, as you see in the numbers, is tiny today for external foundry, but we see this becoming a very large capability and consistent with the theme that we've talking about. The world needs geographically balanced, trusted, sustainable supply chains. And we’re going to make that happen in the semiconductor segment. We saw the CHIPS Act coming forward this last quarter as really putting that stamp on the national champion Intel and what we're doing with the total of the $45 billion grant package."
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[@brodieobrien-pickering2202]

Nvidia is gonna go the way of tsla in a couple years. Tonnes of hype

[@02nupe]

Different product set, a more focused leader, nvidia is not Tesla.

[@estring123]

nvidia is the biggest bubble in the world

[@estring123]

@@02nupe obviously nvidia is not tesla nvidia is cisco biggest bubble in history, overhyped meme stock

[@blaizel3748]

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[@FoundingFathersUSA]

The best investments have a rough past and a strong future.

[@illmagnetic]

INTC is a long term play. Buy it now and keep it under your pillow.

[@jan.01498]

I keep buying on the dip!

[@jan.01498]

Betting INTEL long term for sure!

[@estring123]

dogs gonna dog

[@002tar]

If you bought intel in 1998 you would be even while most semiconductor stocks are up huge in that same timeframe

[@estring123]

@@002tar lol. inflation adjusted. if u bought in 1998 u would of lost -70%. dogs gonna dog

[@kevingupta7091]

Is there another stock downturn coming up?

[@RonaldoTop5]

I got calls 6 months out

[@guilhermecorreialopes]

I keep buying more shares for sure.

[@polarwin]

yes，market is only a little bit weak for intel, but not for Nvidia, micron, tsm

[@lulcakes912]

Not the CEO's fault that INTC was such a dogsht run company. AMD and NVDA ftw~ INTC will have its day several years later!

[@jan.01498]

INTEL is an American company and they need their own chip. Betting on them long-term!