Jim Cramer on Intel: "There's an Amazing Comeback Story"

Intel Corporation (NASDAQ:INTC) is one of the noteworthy Q3 stocks Jim Cramer was focused on. Cramer called the company’s CEO a “legendary semiconductor investor,” as he said:

“Then there’s an amazing comeback story in the list, and it’s the story of Intel. Here’s a company where fortunes are changing on the fly, thanks to a phenomenal new CEO, Lip-Bu Tan. He’s a legendary semiconductor investor and the man who turned around the wayward Cadence Design Systems. Under his reign, the stock appreciated some 3,200% over a 13-year period. When he came in, he realized that Intel was even worse off than anyone thought.

So what did he do? He did the right thing. He decided first to fix the balance sheet, managed to wrangle $8.9 billion from the federal government in return for a 10% stake. He also raised $2 billion from SoftBank and $5 billion from NVIDIA, where Jensen Huang is an old friend. He saw real potential despite the fact that at one point, well, Intel tried to put NVIDIA out of business. Even as the fruits of all this money are so elusive, the stock still rallied almost 50% last quarter.”

Intel Corporation (NASDAQ:INTC) produces processors, chipsets, GPUs, FPGAs, memory, storage, networking, and software solutions for workloads including AI, security, and cloud computing. In addition, it provides advanced manufacturing technologies, autonomous driving systems, and edge platforms that enable digital transformation.

While we acknowledge the potential of INTC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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