President Trump Now Supports Intel CEO Lip-Bu Tan -- What It Means for Investors
U.S. President Donald Trump, who just last week demanded the resignation of Intel (NASDAQ: INTC) CEO Lip-Bu Tan, reversed course on Monday. In social media posts on Aug. 8, the president initially labeled Tan as "highly conflicted" over alleged ties to the Chinese Communist Party, citing illegal actions by Cadence Design Systems (NASDAQ: CDNS) while Tan was its CEO as the proof. After the two met on Monday, Trump now calls Tan a "success," and supports his leadership of the chip giant.
The conflicting attention on Tan brought additional scrutiny on the semiconductor stock as it struggles to regain its competitiveness in an industry it once dominated. It also means investors would be well advised to make sense of the news and the implications it might have for Intel shareholders before buying the stock.
Image source: Intel.
Source Fool.com
Intel Corp. Stock
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