## Intel CEO Pat Gelsinger Gets Strong Backing Amid Impressive Q3 Earnings
Intel CEO Pat Gelsinger has received a vote of confidence from industry expert Patrick Moorhead, CEO and chief analyst of Moor Insights & Strategy, following the company’s impressive third-quarter earnings. Moorhead expressed unwavering support for Gelsinger’s leadership during a segment on Market Domination Overtime, highlighting the positive implications of Intel’s recent financial performance for investor confidence.
Speaking to Yahoo Finance after Intel reported its earnings on Thursday, Moorhead emphasized that the recent earnings report should bolster investor confidence in Gelsinger’s leadership. He stated, “It gives me confidence, and it should give investors confidence.” Moorhead highlighted the strong positive results and future guidance as compelling indicators of Gelsinger’s effective management.
Addressing any doubts regarding Gelsinger’s position, Moorhead posed a direct question, “If you’re questioning Pat as the leader, then who else?” He asserted that the latest earnings announcement should dispel any uncertainties surrounding Gelsinger’s performance. Moorhead concluded that the third quarter’s achievements and the outlook are promising signs for the company’s future direction.
“The biggest takeaway is solid operational performance with a solid guide,” Moor Insights & Strategy founder @PatrickMoorhead says on $INTC Q3 earnings. “The Street is definitely reacting to that $260 million beat on revenue.”
## Support for Gelsinger Arrives Amidst AI Competition
This endorsement for Gelsinger comes at a critical juncture for Intel. In September, reports surfaced highlighting the pressure on Gelsinger to revitalize Intel’s AI strategy amidst fierce competition from industry giants Nvidia Corp. NVDA and Advanced Micro Devices Inc. AMD. While Intel’s AI chip sales, particularly the Gaudi 3, are expected to generate $500 million this year, this figure significantly trails Nvidia’s multibillion-dollar sales.
However, the recent third-quarter results have provided a positive outlook for the company. Intel reported a quarterly revenue of $13.28 billion, surpassing the consensus estimate of $13.02 billion.
## Market Reaction to Intel’s Performance
The market responded positively to Intel’s strong earnings performance. On Friday, during pre-market hours, Intel’s stock was trading 6.09% higher as per Benzinga Pro.
These positive results and Moorhead’s strong support for Gelsinger suggest that the company may be on the right track to regain its footing in the competitive semiconductor landscape, particularly in the rapidly growing AI market.
