Intel Corporation (INTC): They Have To Fix The Balance Sheet, Says Jim Cramer

We recently published 10 Stocks Jim Cramer Discussed As He Questioned Official Data. Intel Corporation (NASDAQ:INTC) is one of the stocks Jim Cramer recently discussed.

Intel Corporation (NASDAQ:INTC)’s shares have stabilized this week after CEO Lip-Bu Tan met with President Trump to assure him of his loyalty to America. Trump had demanded last week that Tan leave his role as Intel Corporation (NASDAQ:INTC)’s CEO due to his ties with Chinese companies. Cramer commented on the developments and on reports of disagreements within the firm’s board:

Thank you for bringing that [story about differences in Intel’s board] up because I was going to go over that story, now I don’t have to. But it’s totally overblown.

“They’ve got to fix the balance sheet. They have to fix the balance sheet. They have to. The balance sheet is in tatters. They only took two billion from the government.

“[On how while Intel had taken $2 billion from the government, additional payments were contingent on milestones] But he doesn’t want to build that stuff. I don’t blame him. Gelsinger was building, he had one of these, if you build it, they will come. He forgot first of all that they cause many billions of dollars. The second that there was no reason to come because the stuff was already obsolete by the time it would have finished.

“Don’t you think it’s interesting that Gelsinger was one of the presenters for Lip-Bu Tan when he won the 2022 Noyce Award. And then, what happened? He resigned from the board, remember in protest to Gelsinger’s stuff, Lip-Bu Tan. And now he’s running it. And news outlets have the story that there’s dissension? When I can’t find a single dissenter? I can’t!

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Disclosure: None. This article is originally published at Insider Monkey.