“The board continues to evaluate candidates for what I believe is the biggest and best open job on the planet,” Swan told analysts on a conference call after Thursday’s earnings release. “They are proceeding with a sense of urgency while also ensuring that they make the right choice for this great company.”

Semiconductors Facing Headwinds

Following the earnings release, SOXS gained over 4 percent in trading after hours. However, if the industry continues facing headwinds, there could be plenty more opportunities for traders to take the bearish stance.

“With the semiconductor industry facing a number of headwinds, a including a slowing Chinese economy, soft smartphone sales, softening auto demand, slowing hyperscale demand, a lingering government shutdown, and ongoing trade war certainty, Intel has remained in a strong position relative to peers, with its own supply shortages likely insulating it from headwinds,” said Weston Twigg, an analyst at KeyBanc Capital Markets. “However, we expect headwinds to mount in 1Q as data center demand likely continues to slow and Intel’s new Apple modem business likely declines amid soft demand.”

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