Here’s what Intel’s new CEO must do to turn the company’s fortunes around

New York CNN Business — Pat Gelsinger has a massive task ahead of him when he takes over as Intel CEO next month. “So the competition will continue to gain share at Intel’s expense.” Manufacturing challenges Intel is known for manufacturing its own chips — a distinction that was seen as a competitive advantage until the company fell off its typical two-year upgrade schedule and began trailing its rivals in producing the most advanced microprocessors. “The challenge with using standard components from a vendor like Intel is you take what Intel provides, or if you want something specific, you have to wait and intercept it on its development cycles.” Intel told CNN Business earlier this month that Apple’s decision frees it up to “figure out how we go out and compete against those products.” Intel said it would focus on delivering the best experiences on Windows, Chrome and Linux, while it competes against Mac products. “You must be able to offer new independent solutions to retain those customers rather than have them send their manufacturing away,” Third Point’s Loeb said of Apple, as well as other tech giants like Google and Amazon, in his letter to Intel earlier this month. You have to innovate in these other areas as well.” He added: “Intel is a different company going forward, and we’ll have to find out where their key competency is.” Some experts are hopeful that Gelsinger’s experience running companies reliant on Intel technology will provide important insight as to what customers want and need.