Intel's Leadership Shake-Up

The departure of Intel CEO Pat Gelsinger has led to significant market responses, with shares rising over 3% as two interim CEOs prepare to lead during this transitional period. Gelsinger’s exit follows frustrations from the board regarding the lack of progress in the company's turnaround efforts, particularly in the foundry business, which has been plagued by negative gross margins. Many analysts believe that Intel's strategic focus on manufacturing rather than adapting to market conditions has hampered its competitive edge against companies like TSMC. Investors are left questioning Intel's future, especially since the anticipated fourth-quarter numbers may continue the trend of disappointing financial performance.