LOGI CEO Steps Down To "Pursue Other Opportunities" & AMAT Not Benefitting From A.I. Demand Surge

Schwab Network

Logitech (LOGI) CEO steps down to "pursue other opportunities." Jenny Horne discusses this as Citi downgrades LOGI to neutral from buy, and lowers its price target to $70 from $73. Citi notes its concerns over management's ability to execute the current growth strategy. LOGI's non-executive board member Guy Gecht is to act as interim CEO. Additionally, Needham downgrades Applied Materials (AMAT) to hold from buy, without a price target. Needham tells investors A.I. demand surge is unlikely to have meaningful effect on Foundry/Logic. Tune in to find out more about the stock market today.