Jim Cramer Discusses These 12 Stocks & Shares Big Buying Signal

8. Intel Corporation (NASDAQ:INTC)

Number of Hedge Fund Holders In Q4 2024: 83

Intel Corporation (NASDAQ:INTC) is the world’s largest integrated chip manufacturer – a distinction that allows it to design and manufacture its chips. However, the past 12 months have been full of turmoil for the firm. Intel Corporation (NASDAQ:INTC) has struggled with a sluggish CPU market and has been unable to compete in the AI industry. The struggles led its former CEO Patrick Gelsinger to abruptly leave the firm in December. March has been a great month for the stock as the shares have gained 16% since Intel announced its new CEO, chip industry veteran Lip-Bu Tan. Here’s what Cramer said about the development:

“Yeah when Lip-Bu Tan stepped down I said Gelsinger had to go because this man is a revered man. If you wanna go back to see who he really is, you go back to the 2022 acceptance of the Robert Noyce award. Noyce one of the founders of Intel. A speech that he gave, which of course introduced by Matt Murphy from Marvell. Is a very good friend of his. But also from, from Jensen Huang, from NVIDIA. And this man is a humble man who has invested in a huge number of companies. He is a loved person. When he got to Cadence it had a very bad reputation. Also had a bad balance sheet. And he asked for, answers about what to do. He got 300 emails almost immediately answered every single one of them. Another three hundred, answered every one of them. I think that keeping Zinsner, David Zinsner, who’s a fantastic CFO, going to temporary CEO. This is a very meaningful hire. The company is in trouble. I’m not saying you can go buy the company. I am saying that this man can make a lot of things happen. He is a, both a considered person, who is loved out there, but also an inventor and a, he’s created things but he’s also made it so there’s a lot of teamwork. He’s stressed this teamwork over and over and over again and that’s terrific. His venture capital company was called Walden.”

“[when asked what a turnaround looks like] No, I mean he wants to go forward and do some radical things and leapfrog over. But it’s capital intensive. He has to fix the balance sheet first, he knew how to do that at Cadence. Balance sheet’s a number one issue. Because it was really kind of stretched greatly by Gelsinger. One of the reasons I didn’t care for Pat’s work. So he’s gotta fix balance sheet. He’s gotta re. .um, he’s gotta get some alliances going. Because Lisa Su buried Intel. And Intel missed the AI. It’s so interesting by the way. In his speech, he talks about what we have to focus on is generative artificial intelligence, uh, large language models. All the things that three years later people are talking about.”