The news that Pat Gelsinger is departing as CEO of VMware to take over at Intel generated a positive response for Intel and an equally negative response for VMware. Intel's stock jumped 7% on the day of the news, while VMware's stock fell 7%, and investment bank Piper Sandler slashed its VMware price target from $178 down to $157.
Most of the discussion has been around Gelsinger and his return to Intel. VMware, meanwhile, has been overlooked in the process. So what's the outlook for VMware, which has lost more talent than just its CEO in recent months?