a little earlier, we were interviewing the ceo of intel, pat gelsinger. there has been a lot of talk during the pandemic about how you reshore, onshore -- what has been sent to asia. i'm wondering how we move things to our soil and at the same time keep in mind the cost to make those things and the ultimate cost to consumer. ms. lee: manufacturing over the past couple of decades has made sure they are manufacturing the markets they are in. there is a lot of lessons learned during covid about things that could be brought onshore. that is something that i think the sector has talked a lot about. we have all learned a lot of lessons from covid on how to operate. the announcement today out of intel is enormous, a fantastic opportunity for ohio, a fantastic opportunity to increase the amount of supply of semiconductors, which are so ubiquitous now are even more central than ever before. that investment, that type of commitment to manufacturing here in the u.s. is fantastic, and that will continue as long as we continue to have the workforce ready to fill those

and now they're leaving intel. i be an intel, microsoft, google, amazon. those companies who are not showing up here who opted not for in person presence. and why is that? you mention it because the danger off catching armor crone here is? yeah. big as big as a super spreader event, this could be a super spread event. that's why you mentioned that also. we have those tests here . you see everybody who's coming here does not only have to be vaccinated, of course japs, but he also get the test there. 2 tests in there and you have to supposed to self test every day and make sure you're not a covered positive. and that is definitely a challenge here because with mask or without and even with mask, the dangers are pretty high to catch something here. okay, stuff on. so some of the bigger guys like intel and ibm can afford to pull out what about a lot of the smaller businesses that are there that really need to be there and shake hands and make these deals. they have no choice but to be there. is that fair to say? well yeah, it's fair to say that's exactly what

it's not what i'd do, nvidia in a 30% bydown how can you buy intel? that's what i do >> josh, i got to get to tesla numbers. they are out stock down 5% after hours. phil lebeau has the numbers. >> a beat on the top and bottom line for tech. key numbers here first of all, eps, 254 for the quarter and fourth quarter, expecting 236. revenue much better than expected 17.72 billion dollars expecting 16.57 billion dollars. just starting to dive into the numbers within the numbers but the one that's going to get a lot of attention, automotive gross margins, ex government credits 29.2%'s number we're seeing now tesla numbers. beat on the top and bottom line, but real fireworks, guys, comes during the conference all at 5:30 if elon musk is on what does he say about the company's product road map what we're focused on. back to you. >> phil, thank you. >>> stock down 4% after hours, mike seems like a miss on the margin point. what else stands out >> yeah. i mean, i suppose so i'm not sure that this stock was priced in such tight tolerances to the market expectat

you have $50,090 today all right, how would you have done if you put the money in intel. oh, there you go that's $2,000 from intel and it is worth $1,700 today. >> goody these are enormous gains that we can capture, you and me simply by doing the homework. at the end of the day, you have to do what matters to you. i had no advice. for everybody else, let's stick with the fundamentals, invest and make profits of it investing in weaker companies always making excuses. that's what we'll do together. i promise to find you the bull market "mad money. see you tomorrow the news with shepard smith starts now >> stormy daniels in federal court says she speaks to dead people and talks to a haunted doll michael avenatti's fraud trial gets spooky. i'm shepard smith. this is the news on cnbc >> i will select the nominee worthy of justice breyer's legacy of decency. >> filling the vacancy, the president outlining when and how he'll make his choice as stephen breyer delivered a message to america. >> waiting on putin, the russian president weighing his next move after america's response

and now they're leaving intel. i be an intel, microsoft, google, amazon. those companies who are not showing up here who opted not for in person presence. and why is that? you mention it because the danger of catching army crone here is? yeah. big as big as a supers freda event. this could be a super spread event. that's why you mentioned that also. we have those test. see if you see everybody who's coming here does not only have to be vaccinated, of course japs, but he also get the test. there are 2 tests in there and you have to supposed to self test every day and make sure you're not a covered positive. and that is definitely a challenge here because with mask or without an even with mask, the dangers are pretty high to catch something here. okay. stuff on. so some of the bigger guys like intel and ibm can afford to pull out what about a lot of the smaller businesses that are there that really need to be there and shake hands and make these deals. they have no choice but to be there. is that fair to say? well yeah, it's fair to say that's exactly what t

chris, appreciate it busy day for everybody what are you wanting to hear from intel tonight >> for intel, there's really two parts of the story one is what's happening in the near term. what's been going on with the server and pc business they're behind on plo says technology, and really the focus is on the mass investment that they need to make and at what point can intel catch up the earnings today will give some insight to it they'll have an analysts day in the middle of february, and we expect a lot of information at that point. >> yeah, what kind of stock is intel? how do we look at it now it's not a gross stock, i guess. is it a pure value play at this point? i mean i guess more basically asked, chris, is why do i own it >> well, we have an underperformed rating on intel now. the answer i give you -- >> we don't. >> yeah. so there 's a -- feeling some o the market that plaps it's a value stock because it is one of the most cheaply valued stocks in the universe for good reason. the fact they're behind on process is well known. the issue is that the new ceo, pat gel singer, is operat

back to you. >> thank you >>> still ahead, intel goes from chaos to coherent. trump tower wants investors the buy into its vision. beyond meat is putting muscle into fake chicken. your afternoon action is next. ♪♪ this... is the planning effect. this is how it feels to know you have a wealth plan that covers everything that's important to you. this is what it's like to have a dedicated fidelity advisor looking at your full financial picture. making sure you have the right balance of risk and reward. and helping you plan for future generations. this is "the planning effect" from fidelity. ♪ >>> welcome back it is time for a read on the afternoon action we have the story and the trades on some big movers and shakers in the market right now, and we'll begin with intel, jumping today on an upgrade to outperform at northland capital. the shares are up still almost 3% the firm saying intel has gone from chaos to a cohieerent strategy they're noting it is a bargain compared to other high-multiple names, and the shares only gained 3% last year. here with more of

and now they're leaving intel. i be an intel, microsoft, google, amazon, those companies who are not showing up who up there not for in person presence. and why is that? you mentioned it because the danger of catching amr crone here is yeah, big as big as a supers frederick event. this could be a super spread event. that's why you mentioned that also. we have those test. see, you see everybody who's coming here does not only have to be vaccinated, of course japs, but he also get the test. there are 2 tests in there and you have to supposed to self test every day and make sure you're not a covered positive. and that is definitely a challenge here because with mask or without and even with mask, the dangers are pretty high to catch something here. okay, stuff on. so some of the bigger guys, like in town, ibm can afford to pull out what about a lot of the smaller businesses that are there that really need to be there and shake hands and make these deals. they have no choice but to be there. is that fair to say? well y

the nasdaq is on pace for its worst week since march of 2020 plus, more from intel ceo this hour with the president set to make an announcement on chip production any minute. that's coming up, too. >>> peloton halting production as demand disappears is it possible buyout ahead? we'll discuss all of that, john. >> yes, indeed let's start with netflix the streamer 24% lower at the moment after reporting q4 results. epsb revenue was in line but competition is weighing on growth for the full year netflix saw 18 million net ads compared to 37 million a year ago guidance the big miss. analysts had been looking for subscriber growth of 7 million and expect a number closer to 2.5. more than eight wall street firms downgrading the stock and a key question has the growth story shifted for netflix. with us now to discuss editor in chief eli patel. i'm thinking about this in context. of course, i want to talk about netflix. peloton is down, zoom, doordash all of those kind of at or below where they were at the beginning of the pandemic. the world was supposed to have changed with the narrative th

>> intel is a little bit of a shorter term call. my space, as you can see and as you pointed out, it tends to be volatile our 12-month rating on intel is neutral, but we put a short-term, what we call a catalyst watch on it that's just because of the strength in the pc space everybody is ostensibly going back into the office when you go back into the office you need to upgrade the pcs and servers. that was very strong throughout q4 we think intel gives an update when they report on earnings, i believe next week, they beat whatever guidance they gave for q4, they raise guidance a little bit this year. intel has an analyst day in mid-february and we think the stock runs into the analyst day. again, sentiment plays an important role in semis and intel had a very poor update in october, so we think that the sentiment was very low on intel going into the beginning of the year that's one of the reasons why we did the stock -- >> i'm going to squeeze one more in what would you do with the darlings, nvidia and amd >> squeeze in all you like

i'm here with jon fortt and deirdre bosa chips get hit today, before talking to intel's ceo pat gelsinger. the dow is rallies after barely recouping yesterday's losses and finally netflix and bill, bill ackman announcing the holding of the company just what exactly could he push for. we will discuss, dee all of them move across the industry, and tells margins down last quarter as a company we ended up across a slew of new products the ceo noeled that the supply constraints continue to have an impact supply chain also a theme hurting lam research due to, quote, worsened supply chain conditions that stock, guys, is down 5% we're in a chip shortage environment. we can't lose sight of that fact some semis are able to hike prices does intel's results suggest that -- >> it's definitely difficult to hike prices when you don't have products leadership. that hasn't been established, pat gelsinger would say, yet there's all spending that comes with new products. they have that coming -- going on as well we're talking about chips, we should mention amd getting the xilinx approval in china they have

intel. the chipmaker in the news a lot. bottom line is it seems that data center customers are not spending on chips. we know that intel is in investment mode. investors seem to about the outlook for profit. we have to talk about tesla. this is the one we have been waiting for peered really strong performance. we know they have strong delivery. they'll outdo themselves with automotive gross margin. you read down the shareholder debt peered what is not there? a full year 2022 outlook. there hit by supply chain constraints. what happens when alstom and berlin come online? we did not have a number family cars will come out of those factories this year. now we are thinking, what is the profit picture for this company in 2022 this year? emily: let's bring in steve wesley of the wesley group. ask for joining us. it is good to have you back. what is your take on these results? steve: tesla announced blockbuster results today. they have actually grown revenues 32 billion dollars in 202253 point $8 billion in 2021, 60% growth. no ot

and now they're leaving intel. i be an intel, microsoft, google, amazon, those companies who are not showing up who up the not for in person presence. and why is that? you mention it because the danger of catching army crone here is? yeah. big as big as a supers freda event. this could be a super spread event. that's why you mentioned that also. we have those test. see if you see everybody who's coming here does not only have to be vaccinated, of course japs, but he also get the test. there are 2 tests in there and you have to supposed to self test every day and make sure you're not a covered positive. and that is definitely a challenge here because with mask or without an even with mask, the dangers are pretty high to catch something here. okay. stuff on. so some of the bigger guys, like in town, ibm can afford to pull out what about a lot of the smaller businesses that are there that really need to be there and shake hands and make these deals. they have no choice but to be there. is that fair to say? well yeah,

and intel is saying they had to say it because of the law. nobody's got -- andrew, nobody is without some blame at this point. >> the most interesting thing that rubio said was not just he was upset with them on the rhetoric or jawboning side he said intel shouldn't be eligible to be part of the chips program which would subsidize intel and others to create semiconductors here in the united states as a result of not speaking out more publicly that's where it gets to me, from a business perspective, really complicated. we've seen it with voting rights in georgia where companies like delta and others were denied tax benefits because of the position they took. now it's applied in a different way to a company potentially like intel in the context of china. and so, boy are you stuck between a rock and a hard place if you're the ceo of intel this morning. >> well, it -- what are we going to do as a country what is the line we need to walk with china i don't know you see the latest, ray dalio. i don't know what to tell you. one guy, freedom, that ch

and i want to thank pat again, and intel. i can't wait to see this next visit that you're about to have in ohio today. and i want to make one last comment. you know, folks, and i asked pat this. i've asked many other corporate leaders around this nation. when the united states of america, when the government makes a decision to invest considerable amounts of resources in a new industry or in an area that we need to build up, that encourages businesses to say they're doing it, this is going to happen. i'll get in, too. i asked pat if that was part of the judgment. am i misstating it at all? and it is, but i just want everybody to understand. when -- i'm sure there were people who looked at both my colleagues who helped lead the fight in this chips act, trying to pass, saying we're going to spend a lot of money. that money attracts money. it attracts investment. it demonstrates we're all in. so, folks, i'm going to say what i've always said. there's not a damn thing this country can't do. not a single thing we can't do. you've

a dry up of demand is it good news for getting back to normal >>> next week tesla, caterpillar and intel on tap we will get the news andtrade on each going into the weekend >>> we begin with stocks sliding again. dom chu with the grim numbers for us >> the grim numbers are not as grimace earlier in the session, kelly. what i can tell you is the dow is down roughly 150 points, half of 1%. we were down over 200 points at one point. the s&p is off about three-quarters of 1% 4447 the last trade. the focus on the nasdaq composite, hovering below the 14,000 mark. off about 165 points at the lows of the session we were down 2.1% to give you context on the intraday trade for the nasdaq again, lower but off the worst levels of the day so far we will see if it sticks one of the reasons why the nasdaq is not doing as poorly is because you are seeing specs of green, believe it or not, in semiconductors of all places they've been hard hit and volatile as of late. but check out what is happening with texas instruments, qualcomm, all up between 1% and 3% those are some of the best performing stocks on

we can tell the news of intel. tell me what you are telling viewers and yourself >> look, if everybody was selling because the ten year was going back to two and it's back to where it was, we can take that off the table it's not as bad. if we are selling because netflix didn't make it, didn't give you a good forecast, most of the companies aren't netflix. if we are selling because we hear people talking about how the market could go down 45% that's an irresponsible thing to say. there is a lot of stocks to buy. we're putting mo into work for the travel trust if you watch our morning meeting at 10:20 him when you get people come on air, that interview with someone from an exchange that does bitcoin, he's talking about the long term. see, that's what bothers me is the people who are coming on are often prostheizers, think about a year and now the bubble is coming down, now we're supposed to be worried when the millennial index is awful, the spac index is down 60% i don't know, i'm looking for things to buy. i don't t

tonight's trader lineup tim seymour and pete and -- tonight we're on a busy night of earnings, tesla, intel, las vegas fans on the move reactions coming your way. plus power pull back stocks giving up early gains and we break down the fall out. later retail revolution big bet on gains helping the crown sun best as the best performing hedge fund in 2021, a rare, exclusive interview with the man who runs that fund report of the day, tesla stock volatile after being beat on early top lines, now down half percent, phil lebeau is following the action. >> i think the stock dropped after the supply chain comments and said oh, tesla will get hit with the supply chain issues but won't get more clarity until the conference call in 25 minutes. as you mentioned the company did beat top and bottom line handily earning 254 with revenue $17.72 billion, estimate $16.57 billion the numbers within the numbers are pretty darn good for the fourth quarter starting with automotive growth margin x government credit forget the 37.6% the one people are focused on came in 29.2%, better than the street expected which

intel. those are soaring on news of a new cfo. kristina partsinevelos has the details. >> reporter: you saw it ease off a little bit after the company announced david zinzler who will be the executive vice president and chief financial officer. he holds pretty much over 20 years of experience in the semiconductor space but is pretty much a cfo switcher ooh ziesner was head of micron, but a quick search online shows his biohas been taken down from micron's site. micron says its chief business officer and executive vp will serve as interim cfo while the company searches for a new cfo meanwhile, david zinzner will take on the role of finance head at intel starting january 17th until though, today was one of the bite spots on the nasdaq 100, but it is still 20% from the 52-week high melissa. >> thank you tam, what do you make of this move >> i don't know that it is a market-changing move again, intel was actually in the green during the blood bath earlier in the day before this news was announce

intel generates a lot of cash. it's like a slot machine the wish of state of ohio and federal government would help them out more directly especially the defense department so much of our semiconductors come from taiwan at the heart of the cold war on thursday morning we get one that might be easier than others mcdonald's, restaurant businesses in disarray thanks to omicron chaos and broken supply chains we're headed for a winner take all scenario and last man standing will be mcdonald's. after the close that day we get results from apple this time it could be anti-climatic. for the first time in ages apple stock won't be coming in hot gives you a chance to make money on the company i say you should own not trade i'm ever hopeful the break out the life time buyer phone buyer, consumer products company is where the money is and apple can stress that consumer love make life time value very sticky. it's not a compromise to say it's a consumer products doesn't make you into some bleach company for heaven sake finally o

reporter: an event being -- and intel today is the white house concerned with intel and china? jen: we have spoken about concerns we have had. i'm not familiar with the specifics of their engagement in china. i'd have to check with our team. we have not held back, i should say, if we have concerns about engagement in parts of the country with human rights abuses. we also do at the same time work with a range of companies even when we voice our concerns about issues that we don't agree with. reporter: the plan for the $20 billion semiconductor facility in ohio, how can this be an immediate solution to the chip shortage if they won't be fully online until 2025? jen: our view is it's an important step forward in ensuring we have manufacturing capacity here in the united states, that we don't have a chip shortage in the future we also, the president called for the passing of useca, i reiterated at the top of the brief, so we can get that $52 billion in semiconductor investment to get more going now. reporter: what's the holdup with useca in the house? jen: i think speaker pelosi ma

tesla and intel after the bell. we are looking at gains in the stocks going up ahead of these numbers. european markets with firmer tone this morning, take a look as you see indices in europe down ftse 100 down 66, we've got the dow and nasdaq up here instead of the european markets, european markets actually trading up. let's take a look at the european indices here with the asian markets are mixed, kospi down half a percent. hang seng up a traction and the nikkei average is down half a percent but as i mentioned european indices are higher this morning and we will get the numbers for you momentarily. meanwhile this fox news exclusive from the border, new video shows dozens of migrants mostly single males bussed in by border patrol and brought to make-shift office in brownsville texas then put to taxis which were shuttled to the airport. migrants were sent anywhere they wanted to go apparently in the country. some migrants telling fox news they were headed to miami, others said houston among other big cities that t

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>> intel committee is a special committee only appointed by the leaders. this is where you get the secrets to america and around the world. he will go down as one of the worst germans of intel pat turned it into a political committee here we have afghanistan, collapsing where the president is saying he's going to be able to sustain itself we have bob from collapsing where prisoners are getting out when they took one of the individuals in that prison and killed 13 of our servicemen and women, it made 1 new gold star families. may be if the intel committee was focused on what they should be focused on, instead of putting up a fake dossier and others, we wouldn't have that situation. the fbi warned us that had a knowledge of a chinese spy, continue to put on there. when he goes to the private sector, he was not going to be approved for security clearance why would government to give hi the clearance to the secrets of america? to me it's very simple, we're going to turn the intel committee back around to what it's supposed to be, protecting america around the

intel is investment mode and investors seem worried about the outlook for profit. tesla is the one we have been waiting for, strong performance in the fourth quarter, beat on the top and bottom lines, strong deliveries, outdoing themselves with gross margin and you read down the shareholder debt. what is not there? the 2022 outlook. they are hit by supply chain constraints which they say have depressed volumes in the shanghai and fremont plants, but what happens when austin and berlin come online? we don't have a number of cars coming out of those factories this year, and what is the profitability of the company in 2020 this year? emily: let's get that are picture of the picture and bring in steve westly of the wesley group and a former tesla board member. steve, good to have you back. what is your take on these results? steve: tesla announced lackluster results today. they have actually grown revenues 32 billion dollars in 202253 point $8 billion in 2021, 63 percent growth. no other automobile company in the world is doing anything close to that. more importantly,

is it hard for an intel person who's delivered a report, much of it came to fruition, to then see the result on january 6th? >> of course, it is. i mean, that was a difficult day. to see what happened. i was listening to the police radio when that was happening, and to hear the officers' screams and everything that happened that day, it's very difficult. >> reporter: now, chief manger tld a senate hearing yesterday that january 6th exposed critical deficiencies in the capitol police, which are all being addressed. among them, a shortage of about 450 officers. the overnight news will be right back.

coming up, intel plunges on the back-and-forth quarter results. investors are jittery over the ambitious plans to turn around the chipmaker, including a $20 billion manufacturing hub in ohio. will it pay off and when? we will talk to him, next, on bloomberg. global news 24 hours a day on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. -- bloomberg. ♪ ♪ emily: nasa announced choosing 12 companies to provide space services. virgin shares rising on the deal. but that 300 million dollars will be split across all companies in an effort to foster a growing u.s. commercial launch market. moving on to chips, i cut up with pat gelsinger along with guy johnson one day after the company reported fourth to results and i asked about concerns tied to how much intel is spending, including a potential hub for a new factory in ohio. how guaranteed is the return? take a listen. >> we feel that the overall industry is expected to double and most of that is leading edge technology and intel is only one

we are going to hear from the ceo's of nissan and intel next. this is bloomberg. ♪ ♪ >> we think this is a great start. maybe the second half of the decade, there would be a chip sack, too, but this has created a lot of energy and we believe that we should be participants in building out and accelerating this capacity on american soil. personally, i have been very involved in lobbying for getting the bill done. we are hopeful that before the continuing resolution ends in february, that that timing is one that all the legislators are rushing to get across the line. where optimistic. we think it's a great start. if we can go from 37 to 12, and i've set a moonshot objective where u.s. gets back to 30% of the next decade and europe gets back to. 20%. we are looking at 50%, i think that's an incredibly positive way to leave this decade and one that we are optimistic that we will be able to achieve. >> it's interesting, you've made a noise about this. most of the other people who've made a noise in terms of standing up to china tend to be like fac

intel reporting earnings tonight. is this going to be a signal to sell when we get the intel numbers tonight? what you expect? >> no, maria i don't think it will be a signal to sell. while i appreciate the fact that you had a ceo tell you their issues, i'm speaking of someone who allocates capital every day. i'm along a number of different semi conductor companies. at the high-end of the semi conductor jane, you aren't actually seeing the shortage that you see on the lower end. ironically, the lower end some of the boundaries are trying to switch over from their low-end production to the higher end production. again, you have to take the longer term view. we are working through these supply-chain outages. if you look at the number of times the supply chain outages or some variation on last quarter's earnings, it was actually less than the previous quarter and i think that's a trend we will keep seeing as we work through this. even sherman powell has been saying, he changed his view from transitory to maybe a bit longe

let's talk intel now, the stock is at the lowest level in a year this follows earnings. all right, pete, what do you have to say about this one >> yeah. it's -- it's frustrate, scott, because we all know what exactly they're doing. they're in the process of some huge money that's being put into ohio as well as arizona and we all know these $20 billion factories and so forth is going to be something that will be chewing up a lot of what they've doing with their cash and yet the company still did deliver this quarter to some degree. margins were not quite where we wanted them to be or where they wanted them to be. pat gelsinger did a great job earlier on cnbc when he talked about the different parts of what's going on there, but you look at data center chips and that was down 20%, so there are areas of growth, but it's still frustrating and i will say this. intel, believe it or not was leading this year. the smh by quite a bit of a percentage move. it's gotten closer and it's still ahead of the smh in terms of the move. it's held in there okay. that doesn't make me very ha

coming up, intel plunges on the back of fourth-quarter results. investors are jittery over the ambitious plans to turn around the chipmaker, including a $20 billion manufacturing hub in ohio. will it pay off and when? we will talk to him, next, on . this is bloomberg. ♪ emily: nasa has announced it has selected 12 companies to provide space services. virgin shares rising on the deal. it is valued at up to $300 million, split across all companies in an effort to foster a growing u.s. commercial launch market. thing onto chips, i caught up with pat gelsinger along with guy johnson one day after the company reported fourth to quarter results and i asked about concerns tied to how much intel is spending, including a potential hub for a new factory in ohio. how guaranteed is the return? take a listen. >> we feel that the overall industry is expected to double and most of that is leading edge technology and intel is only one of three companies on the planet able to build at that scale and so, we feel very strong that the demand signals in the long-ter

we are watching intel. disappointed a little bit when it came to the forecast of where revenue was headed. weak earnings outlook reminding investors spending plans are a bit of a drag on margins. that's get to vonnie quin with the first word headlines. >> the u.s. has delivered russia a written response rejecting most of its demands over ukraine. moscow wants nato to redraw borders. possibly barring them from ever joining the organization. secretary of state antony blinken says it is still open to talks and they expect to speak with the foreign minister in the coming days. >> we are open to dialogue. we prefer diplomacy. it remains up to russia to see how to respond. we are ready either way. >> boris johnson reviewing to -- refusing to resign as he looks into a police probe of alleged lockdown parties. he could not comment on the matter while under investigation. he's reportedly not attended celebrations were most were banned from such events. >> we have taken the tough decisions, gotten the big call rights

he's part of an intel committee. so i've been researching this and looking it up, and it seems that it is absolutely warrant ld, these concerns, so much so that team usa officials told all our athletes and other countries are doing the same, don't bring cell phones, don't bring your ipad, don't bring a laptop, don't bring anything because more likely than not they are going to be spied on. and let me break this down just for the viewers out there. upon arriving in china and going to the olympic village, you have to download this mandatory app, okay? they claim it's for health reasons and health concerns and to follow your travels, keep everything in line are. however, already cybersecurity companies are saying that the encryption is already flawed. so that is a big concern because you have to do it whether you're an athlete, whether you're a worker to get into the village. they have you there. then look at some of the official sponsors, stuart, okay? they're not even trying to hide this. some of them are the largest

>> yes so i like intel because it's p/e is so low and it's a future play, and i understand why margins are dragging and people are concerned. but i'm not concerned. microsoft is a safe bet. it's consumer. it's commercial. and it's in the right types of businesses that are out there. >> all right so there's a couple of names as we head into another heavy week. patrick, thanks for your tame and take aways we appreciate it >> thanks for having me on >>> coming up, dozens of companies including netflix, tesla, and all the rest of them that you can see there, warning of price hikes this year due to inflation. vanguard's global chief economist weighs in on inflation and the fed next >>> plus check out shares of robin hood after falling as much as 15% after hours the stock is now up almost 8%. they missed analyst's estimates on nearly every metric including guidance for the current quarter. we'll take a closer look at what's turning things around >>> as we head to break, the dow is trying to avoid the fourth negative week in a row half the components in positive territory led by apple and vis

intel seo urges government aid to chipmakers. our conversation from him. this is bloomberg. ♪ emily: intel ceo patrick gelsinger is optimistic there will be new legislation to support chip manufacturing. he spoke to our bloomberg editor in chief at the conference. take deliverance -- take a listen. patrick: may be in the second half, there will be a chip act. this has created a law of energy. we believe that u.s. companies but also asia companies should be participants in building out and accelerating this capacity on american soil. personally, i have been very involved in lobbying for getting the bill done. we are hopeful that before the resolution ends in february, all the legislators will line up to get across the line. there is a similar timeline in europe as well. we are optimistic and think it is a great start. if we can go from 37 to 12. there is an objective for the u.s. gets back to -- and europe gets back to 20%. i think that is an incredibly positive way to leave this decade, when we are optimistic to achieve. >> that is interesting. you have

the intel on intel's latest production unit promising thousands of jobs. you're watching "today in the bay." we learn about covid-19, the more questions we have. the biggest question now, what's next? what will covid bring in six months, a year? if you're feeling anxious about the future, you're not alone. calhope offers free covid-19 emotional support. call 833-317-4673, or live chat at calhope.org today. >>> i also have a lot of confidence this district leadership will meet ever reasonable demand. >> teachers threatening to action in a crisis over covid. ahead in a live report that a strike may be days ahead in a district already experiencing major upheaval. >>> and then we will show you how the declining covid surge could change some restaurants' plans, and maybe yours in the days and weeks ahead. this is "today in the bay." >>> we are broadcasting to your television. you can also watch us live on your roku, amazon fire, apple tv and nbcbayarea.com. good friday morning to you. i am kira klapper. >> i am kris sanchez. laura and marcus both have the day o

intel, let's hit the chips one of the worst performers on the dow today. it's down more than 6%, despite an earnings beat, intel's overall profit and margin declines are weighing on the stock. ceo pat gelsinger was on tech check, with an optimistic tone >> we're following what we call smart capital, where we need to build shelves and then we'll decide how we populate them for our products or for foundry customers, but overall, that build-out of the manufacturing capacity, the semi-conductor industry is going to double over the course of the decade and we're going to be positioned to capitalize on that. >> watching intel, investors aren't having it lam research, steph, tear adine is down 24%. are these individual stories or something broader to worry about with chips >> well, i think lam research certainly is supply chain issues and thankfully, i sold the position last week i'm not 200% in two years time, so you have to take profits along the way. i think that one is going to be just fine. in fact, the supply chains for lam probably extend the cycle. you co

hedge fund managers took over our biggest chip manufacturer intel. intel grew its market size, cemented its dominant position through anti-competitive and predatory practices. then, having killed the competition, the managers were free to weaken intel's fundamentals with impunity. i'll give you just one example. from 2001 to 2010, instead of spending more money on innovation, remember we're talking about the semiconductor industry, right, you have to stay up, instead of spending more money on innovation, on new ideas, on more efficient manufacturing here in the united states, intel's managers spent $48 billion on stock buybacks. they boosted share prices and executive pay while they hollowed out a once great company. so, mr. lynn, let me start with you. you know a lot about the semiconductor industry. did consolidation particularly the growth of intel lead to greater efficiency? >> no, senator. the opposite. >> did it lead to lower prices? >> absolutely not, senator. >> then did it at least make intel a stronger competitor on the world stage? >> the

that's what this is all about in terms of intel for huge stuff, there we go i was close. cheryl: i am pulling it up to. >> that did not hurt my short-term memory. this is an environmental play with the grid and we will see where it goes from here and i can't tell you what this means with bitcoin they were at a market top when it goes late like this clearly bitcoin is, to pressure for energy uses it to reduce the carbon footprint. since we are on the notion of carbon footprint turned to larry fink the ceo blackrock the biggest money manager in the world $9 trillion his annual letter to companies that he invested he does this every year he lays on his investment philosophies and what he sees in the world, what i found fascinating about this newsletter larry who is known as an environmental advocate struck a very moderate tone he was one of the more difficult c had to write blackrock is coming under pressure as progressive economic edicts for companies he made it really clear in this letter, he does not do that despite his personal use and what's going on in the investment w

what's your first stock, intel? >> well, we do like intel, but, or you know, when you talk about stable in price, i want to make sure that i'm always very clear with you but mostly, of course, with viewers. stable doesn't mean it can't go down. we prefer they not go down 25% in one day like netflix is today or 50, 60, 70% like so much of these hot, cool, shiny objects have done recently. but market volatility is part of being an investor. with intel what you have right now is a stock trading at 10 is times earnings in a world trading at 25 times earnings. they are very cheap relative to what they can do in the future. you won't like the dividend yield because it's only 2.5% which is only double what the market's yield is, but they grow the tiff tend every year, and they're investing in america. $20 billion today into ohio, manufacturing plants for transistor technology. $20 the billion in arizona for semiconductor manufacturing. we're thinking a few years out, and we really like intel. stuart: how about ibm? i know

last week intel announced day -- announced a $20 billion plan to build a semiconductor manufacturing facility in ohio, one of the largest of its kind in our nations history that will create 10,000 jobs area -- jobs. one of the reasons for inflation being high as it is is the cost of vehicles. the reason the cost of vehicles is up is they do not have the component parts, specifically, the semiconductors. last year other top manufacturers committed $80 billion in new semiconductor facilities across the nation beyond what intel just announced. that will create thousands of jobs, thousands of good jobs. my new infrastructure laws will build out more than 50,000 charging stations for electric vehicles across the country creating better paying jobs for thousands of workers and the idw will be very busy putting all of those in all over the country. that is just the start. our build back better plan, i say hours, it will do even more combining the infrastructure laws making the biggest investment in clean energy manufacturing ever in american history. this is about here and now and the futur

i agree, eric swellwell should not be on intel, schiff or omar should not be on foreign relations, they should not be on those committees. >> todd: makes no sense why they were put on there in the first place. before we let you go, you are in cella bratory mood, georgia bulldogs won the championship. here is video of kirby smart hoisting the trophy. how excited are you, congressman? >> go, dogs, stetson bennett is from the first district, we have eight or 10 of the players from first district of georgia. we are so proud. we are waited so long and we are ecstatic. go, dogs. >> carley: it was 33-18, it wasn't even close. congratulations on the big win for georgia and thank you for joining us this morning. >> thank you. >> carley: the time is 27 minutes after the hour. california governor has big plans for spending taxpayer dollars, including health insurance for illegal immigrants. we take a look at the radical proposal coming up. >> todd: and across the country, new york city opening the door to let noncitizens vote in elections, we'll tell you about the legal action to stop it. cue up d

hedge fund managers took over our biggest chip manufacturer, intel. intel grew its market size, cemented its dominant position through anticompetitive and predatory practices. then, having killed the competition, the managers were freed to weaken intel's fundamentals with impunity. i'll give you just one example. from 2001 to 2010, instead of spending more money on innovation -- remember, we're talking about the semi conductor industry, right? you've got to stay out -- instead of spending more money on innovation, on new ideas, on more efficient manufacturing here in the united states, intel's managers spent 48 billion dollars on stock buybacks. they boosted share prices and executive pay while they hollowed out a once great company. so, mr. lynn, let me start with you. you know a lot about the semiconductor industry. dick consolidation, particularly the growth of intel, lead to greater efficiency? >> no, senator. the opposite. >> did it lead to lower prices? >> absolutely not, senator. >> then, did it at least make intel a stronger competitor on the

david, one of the things i love, he has a narrative now it's kind of like andy in the old days on intel. here is the narrative. if you want to keep the narrative, i'm not interested in talking to you he pacifically says are you listening? that's not what i'm talking about >>well, mr. musk doesn't suffer fools gladly never has. never has. >> don't you like that >> yeah. you can have that kind of attitude when he's had that kind of success. >> he's a remarkable man remarkable. >> i know. he's forever changed your thoughts of him as a result of your meeting him last year or whenever it was. >> i just think when he -- he's talking about the idea if you want to know how to control inflation, you do self-driving cars now you know who else feels that way and they're not really in line is jenson you know, these guys think it's the future of course, carl, one accident and people think it's -- >> but there also is a level of criticism of saying that they're not ready for fully antonymous at tesla selling anything along those lines you can sit in the backseat, don't do that. it's nowhere near read

>> yep. >> if intel maintains a pulse, if it can run ten-minute mile, then -- >> low bar. >> get excited where as some of these other stocks have usain bolt built-in. let's talk more about that does today's market opportunity in tech lie in chips or elsewhere. good morning great to have you. so it seems to me 2022 you got to be weary of the crowded trades, right? and megacap tech has been crowded. some of the chips are crowded. why are you excited about those? >> thanks for having me, jon and carl and deirdre i think there's a few reasons and you mentioned some of the head winds that are out front for a lot of the growth plays and kind of the megacap plays, but if you look at it, fundamentally, some of the megacaps that obviously performed really well throughout 2021, outside of maybe amazon who lagged, there still is some great strong points. obviously on ternings front, obviously on the cash flow front, the ability to get inorganic growth from purchasing acquisitions that's going to be a strong thing. you look if a standpoint, those are often defensive as they are the biggest megacap,

but intel definitely in a class of its own today and at this hour. take a look at the stock. you can see it was up higherer by more than 1% after today's historic announcement that it has picked ohio to invest $20 billion in two new chip fabbri fabrication -- fabrication plants. we broke that news this morning that it will mean 3,000 high-wage jobs. but -- yeah, i was wearing my browns jersey. what have it? -- what of it? coming up, i'll ask the intel ceo on the investment he says will solve the supply chain crises of the future, who he's looking to hire and why he picked ohio over all the other contenders. 3:45 p.m. eastern. >>> as bitcoin, which david just mentioned, falls to its lowest level in six months, our previously bullish traders still all in on crypto? charlie's been talking to them, he's going to break that next. with the closing bell ringing in 49 minutes, the dow continues to fall, but the s&p as well down 81 points. the nasdaq just cratering here by 353 points, a 2.5% decline. "the claman countdown" coming right back. ♪ at vanguard, you're more than just an i

intel still produces the majority of processors. the parent company of facebook is going bigger in texas. meta platforms has leased half of the biggest skyscraper in austin. the company has 2000 employees in austin, looking to hire 400 more. samsung and tesla have announced plans to expand in the area. in china, a giant ed tech country has fired thousands of workers since the country announced a crackdown on private businesses a year ago. the chair said revenue fell 80%. beijing band tutoring companies like new oriental from making profits and raising capital. coming up, two of the world's biggest drugmakers announced they are diving deeper into gene editing. i will speak to the cofounder of mammoth biosciences about their new deal with bayer. this is bloomberg. ♪ every day in business brings something new. so get the flexibility of the new mobile service designed for your small business. introducing comcast business mobile. you get the most reliable network with nationwide 5g included. and you can get unlimited data for just $30

pat gelsinger and intel, the back-and-forth they had over this issue. the ceo forced to apologize about the comments. but still did not take a stand on china. why can't companies take a stand on china? >> part of it is the chinese communist party is putting pressure, saying if you want to invest, if you want chinese workers, your products sold or produced here, you have to toe the party line. while in the short term, it may be in the economic interest of american companies ceos, or the nba to walk back these comments, the u.s. has been so productive and so successful as a nation and technology, in the silicon valley, because we have the political and economic freedoms we do, and we are in a global competition with china. the less we pushback and the more we allow their view to dominate, the less likely we are to see the domination and success that has made america so amazing and the 200 plus years we have been around. emily: what do you think of this happening against the backdrops of the olympics about to start in beijing, the u.s. doing this blue medi

intel still produces the majority of processors. the parent company of facebook is going bigger in texas. meta platforms has leased half of the biggest skyscraper in austin. the company has 2000 employees in austin, looking to hire 400 more. samsung and tesla have announced plans to expand in the area. in china, a giant ed tech country has fired thousands of workers since the country announced a crackdown on private businesses a year ago. the chair said revenue fell 80%. beijing banned tutoring companies like new oriental from making profits and raising capital. coming up, two of the world's biggest drugmakers announced they are diving deeper into gene editing. i will speak to the cofounder of mammoth biosciences about their new deal with bayer. this is bloomberg. ♪ every day in business brings something new. so get the flexibility of the new mobile service designed for your small business. introducing comcast business mobile. you get the most reliable network with nationwide 5g included. and you can get unlimited data for just $3