Squawk on the Street Tariffs and the Chips Rally, Apple Extends Gains, Trump: Intel CEO Should Resign 8/7/25
5 snips
Aug 7, 2025 President Trump announced a bold 100% tariff on semiconductor imports, prompting excitement in the tech sector, especially for Taiwan Semiconductor and Apple. Apple's stock soared after Tim Cook's meeting with the president about U.S. investments. Meanwhile, Eli Lilly faced backlash as their weight-loss pill trial results disappointed despite positive earnings. The conversation extended to corporate leadership as Trump suggested Intel's CEO should resign, highlighting ongoing tensions between politics and the tech industry.
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Impact of Trump’s Chip Tariffs
- President Trump's new 100% tariffs on semiconductor imports incentivize chipmakers to invest in the U.S. to avoid tariffs.
- This could kickstart a domestic silicon supply chain and shift advantages away from foreign producers like Samsung.
Lilly’s Weight-Loss Pill Disappointment
- Eli Lilly's new weight-loss pill helped users lose up to 12% of body weight, less than some expected.
- The results may limit widespread adoption despite regulatory submissions and earnings growth.
Intel CEO Under Fire for China Ties
- Intel CEO Lip-Bu Tan faces scrutiny over ties to Chinese companies amid national security concerns.
- Despite criticism, the Intel board likely supports him for leading a difficult company turnaround.
