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Session Review: Intel Indicator, Citigroup's CEO, and Why Yahoo?


Intel told us more about the tech economy than IBM ever could.


This originally appeared as a Buzz earlier today and is reposted here for the benefit of the Minyanville community.

Greetings from Horse Country where I'm getting ready to head to San Jose tomorrow night for a Friday Fast Money. You can't go home again but I'll settle for a weekend by the Bay. If I have an extra minute, I'll have to stop over at Intel (INTC) and give 'em a high-five. No shilling here, Minyans; I'm just a happy Intel shareholder. In other news:

  • Yahoo! (YHOO)? No high-fives for them. It was a good quarter and fantastic stock reaction but A) I'm not actually a Yahoo shareholder, just a relieved pundit and B) given the fragile state of Yahoo's recovery, I'm worried a high-five might kill the rally.

  • Citigroup (C) CEO Chuck Prince has the full support of the Citi board. Once a CEO gets the full-support of the BOD it's time for him to prepare three notes to leave in the corner office for the next guy. Note One says: "Blame the last CEO." Note Two: "Blame the economy." Note Three: "Prepare three notes."

  • I said it last night and I'll say it again: Intel told us more about the tech economy than IBM (IBM) ever could. IBM has gotten in the habit of simply not missing quarters. It is a big, complicated, reserve-laden corporation. Intel remains a cyclical; fully capable of reporting trainwreck quarters. Judging by Intel, the consumer is buying laptops in order to blog about his pending financial death.

  • At some point, you just have to sit back and admire magnificence, no matter how "real" you think it is or what you think it may "mean" in the big picture. What was true of Barry Bonds in his prime is true of the FXI, tacking another 10-odd-percent on to its absurd run just today. Why? Who cares... just look at it go! (and, um, maybe take some profits).
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Position in INTC.

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