r/technology • u/geoxol • Jan 13 '23 • Bravo! 1 Helpful (Pro) 1

Apple CEO Tim Cook to take more than 40% pay cut Business

https://apnews.com/article/technology-apple-inc-tim-cook-business-d056553b10120c4a968b562cb7ece5d2
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u/[deleted] Jan 13 '23 edited Jan 13 '23

Pat Gelsinger, and INTC as a whole, is fucking shit. Has been a turn-around story for the last 5 CEOs, it is garbage. I remember when going fabless became the rage and this fucking imbecile decided to double down on in-house foundries, a massively capex intensive segment that is winner-takes-all, and such winner being TSMC for now. It also takes decades to build and have a foundry operational. All this while INTC struggles to even fulfill ETAs on products because of in-house production issues

EDIT: INTC not INTL is the ticker, I messed up

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u/drawkbox Jan 13 '23

INTL

INTC, get ya symbols right when turfing son.

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u/twat_muncher Jan 13 '23

Why not just add one letter to spell the whole word Intel? We aren't on WSB

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u/drawkbox Jan 13 '23

INTC is the ticker symbol. INTL was the one they thought was the ticker symbol. Though yeah, could just write it out but if you are talking about stocks makes sense. Intel also can get confused with intel (data).

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u/[deleted] Jan 13 '23

damn you right, been long since I covered INTC, I keep fucking switching INTC with INTL in my mind.

Still, doesn’t alter the point being made. INTC fucking sucks ass. The undisputed leader in market share of CPUs and they squandered it to AMD.

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u/drawkbox Jan 13 '23

I was like "did Intel make a secondary stock and do a GOOG/GOOGL" but nope. Getting the INTL ticker symbol evokes "International". There is something under "INTL", it is BATS, whatever the eff that sketchy sounding fund is "Main International ETF". Just started in December... 🤔

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u/[deleted] Jan 13 '23

https://www.mainmgt.com/

They look legit, have other ETFs (INTL started Jan. 1st of 2022, seeks to outperform MSCI World ex. US Index). Ain’t part of the big boys though (iShares/BlackRock, Vanguard, Charles Schwab, State Street, etc.)

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u/drawkbox Jan 13 '23

I guess as good as a company named generically "Main International ETF" can be. Either real, a fees scam, a mafia washing front or an intel front. So about a 25% legit chance of being legit, not bad for finance. Solid ticker symbol though for sure, memorable.

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u/detectiveDollar Jan 13 '23

I don't like Intel, hell I'm invested in AMD, but getting rid of fabs would be a huge mistake.

Fabs give Intel supply, not everyone is on the latest node so they can fab their chips with Intel, and shrinking transistors is getting harder and harder, so Intel may well catch up.

Plus, if Intel leaves the market it'll be what, just Samsung and TSMC left?

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u/[deleted] Jan 13 '23

bro what are you on?? It is a winner-takes-all market, TSMC is the main player and the one everyone goes to. Samsung is 2nd. And a distant one in terms of performance and profitability. INTC can’t even sell their fab services to competitors, they can’t even fulfill their own orders and have to outsource to TSMC.

If you want Trailing Edge semis, there are other fabs to go to. INTC is in a Leading Edge fab business

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u/magmagon Jan 13 '23

Winner takes all implies that the winner produces all the chips, which isn't true. There just isn't enough capacity to do so, so TSMC raised their prices.

For a lot of applications, there's no need to be on the cutting edge. Cost savings are more important in many low margin chip designs, which is why global foundries, microchip, NXP, etc are around. Intel already has contracts for their new fabs in Arizona. Going fabless would be a terrible idea.

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u/slashrshot Jan 13 '23 edited Jan 14 '23

It is also a national security risk when the bulk of your products that carries most of your economy is produced at a single region that is currently in a politically tense situation.

That said, the incentive for capex extensive companies and shareholders returns dont align.
which is ironic because capex companies are the reason why they need a stock market anyway, to raise funding.

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u/Dramatic-Ad7192 Jan 13 '23

Intel keeping fabs in the US was more of a national security/IP protection decision. Not sure they’d be allowed to go fabless. We’re dumping money into US chipmakers at the moment.

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u/[deleted] Jan 13 '23

Yes I know. TSMC however is also developing fabs in the US. And given INTC has shitty fab tech, I have no confidence that they will reach leading edge nodes like TSMC by the time INTCs fabs are ready

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u/astrange Jan 13 '23

It's US government's industrial policy to get Intel to build new fabs.

https://en.wikipedia.org/wiki/CHIPS_and_Science_Act

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u/actingSmart Jan 13 '23

Hm. I like Pat. I think he built a good culture at VMware. He started at Intel so I think there's more there than just a turnstile. Maybe!

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u/loscalents Jan 14 '23

Pat and not Intel = OK

Pat and Intel = what is happening

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u/[deleted] Jan 14 '23

It isn’t even Pat per se. INTC has been extremely rocky for a long time, high CEO turnover and declining effectiveness