Tariffs and the Chips Rally, Apple Extends Gains, Trump: Intel CEO Should Resign 8/7/25

Carl Quintanilla, Jim Cramer and David Faber discussed developments involving the White House and the tech sector: President Trump announced 100% percent tariffs on semiconductor imports, with exemptions for chipmakers who invest in the United States. Taiwan Semiconductor among the chip companies rallying on that news. Apple shares extended their gains one day after the president and Tim Cook met at the White House to announce Apple expanding its commitment to investing in the U.S. In a Truth Social post, Trump called on Intel CEO Lip-Bu Tan to resign. Eli Lilly shares tumbled as weight-loss pill trial results overshadowed an earnings beat and raised guidance. Also in focus: DoorDash among the earnings winners, Paramount and Skydance complete their merger. Squawk on the Street Disclaimer

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CNBC’s “Squawk on the Street” with Carl Quintanilla, Jim Cramer and David Faber is broadcast from the floor of the New York Stock Exchange, on site at the opening bell with the up-to-the-minute news investors need to know and interviews with the most influential Chief Executive Officers and greatest market minds.