Jim Cramer on Intel's CEO: "I Happen to Really Believe in Lip-Bu Tan"

Intel Corporation (NASDAQ:INTC) is one of the stocks on Jim Cramer’s radar. A caller asked whether Cramer’s outlook on the company has changed following its recent involvement with the government, and he said:

“Look, it’s had a very, very big move. Now, I happen to really believe in Lip-Bu Tan. I think he’s absolutely great, but the stock just jumped so much that I don’t want us to get ahead of ourselves with Intel.”

Intel Corporation (NASDAQ:INTC) develops and supplies semiconductors, processors, and system-on-chip solutions, along with GPUs, FPGAs, memory, storage, and networking products. In addition, the company provides AI, autonomous driving, advanced packaging, and intelligent edge platforms. In August, Cramer discussed the government adding a stake in the company, as he commented:

“I know the White House is taking a 10% stake in the semiconductor company. It’s unorthodox, but Intel’s been a multi-year disaster, and our country needs this company to be on firmer footing… We need a healthy, viable Intel because we can’t simply rely on Taiwan Semiconductor to manufacture our most advanced chips…

After the government freed up those funds in return for a 10% stake, turning a grand equity, I think he’s (CEO Lip-Bu Tan) going to pull it off. I didn’t understand the criticism of the president on this one. Why shouldn’t the government take the stake and get the upside? This is hardly unprecedented…

I say, look, if it’s a national security issue and one of our important companies might be failing, you better believe it’s going to get bailed out. Doesn’t matter if the president’s a Democrat or Republican; remember, Trump made this investment with money that was authorized under Biden. Intel could not be allowed to fail, people. End of story. The president gave Intel new life by fixing its balance sheet. Now, Intel can recreate its greatness with a proven turnaround artist as CEO Lip-Bu Tan is. The government wins. The people win. The shareholders win. What more do you want?”

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