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

<p>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.</p>