Semiconductor powerhouse Intel (INTC) is rallying and providing a boost to the technology sector after raising its fourth quarter guidance and revealing the appointment of Pat Gelsinger as its new CEO, effective February 15, 2021. The good news is a warm welcome towards the development for INTC, which has been enclosed by notable production issues with its new 7nm chip, plunging chip sales in its Data Center Group (DCG), and increasing pressure from activist investor Dan Loeb to assess strategic alternatives.Based on the stock’s bullish reaction, it’s evident that investors are satisfied with INTC’s CEO choice. As the CEO of VMware (VMW) for the past eight years, he certainly has what it takes to effectively lead the company of INTC’s stature. By bringing in an executive from VMW, the appointment of Gelsinger also indicates that INTC’s focus will center on increased growth cloud computing and mobile computing/remote working opportunities.