Jim Cramer on Intel: "I Think That the Negativity Was Way Overdone Here"

Intel Corporation (NASDAQ:INTC) is one of the noteworthy S&P 500 stocks Jim Cramer highlighted. Cramer said that he is a “big believer” in the company’s CEO, as he commented:

Finally, rounding out the top 10 from January is Intel, which finished last month up nearly 26% despite selling off in the wake of its fourth quarter report on January 22nd. Overall, Intel’s more than doubled from where it was trading when the US government invested almost $9 billion for a 10% stake in the company last August. Frankly, I didn’t think Intel’s latest quarter was all that negative.

They issued weak guidance for the first quarter simply because there’s supply constraint. There’s no problem with demand at all. But given how much the stock had run up into the quarter, I can understand why it got hammered on anything less than perfection. I’m a big believer in the new CEO Lip-Bu Tan… not that new anymore, though. And I think that Intel’s got more upside. Even as many wrote it off after that last quarter, it’s clawed its way back to nearly where it was trading before it reported. I think that the negativity was way overdone here.

Intel Corporation (NASDAQ:INTC) designs and manufactures processors, chips, memory, and related hardware. Additionally, it provides software, optimization solutions, and AI-enabled platforms.

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