Jim Cramer Looked At These 11 Stocks Recently

4. Intel Corporation (NASDAQ:INTC)

Number of Hedge Fund Holders: 83

Cramer highlighted Intel Corporation (NASDAQ:INTC) as potentially the biggest beneficiary of the previous administration’s CHIPS Act, which aimed to boost domestic semiconductor manufacturing. He noted that under the leadership of former CEO Pat Gelsinger, the company received a substantial grant of $7.86 billion to support its expansion efforts in the United States. He added:

“He’s gone but the expansion plan he set up is still on, albeit in a curtailed way. Now, we can’t tell how much of the grant will actually go to Intel, except that it’s already took in $1.1 billion last year, another $1.1 billion this year. Even if it hits all of its benchmarks though, a big if, I wonder if the rest of the money will still be there.

We can’t tell if Intel’s gonna get any more money from the government, but the company needs it badly. Intel has $46 billion in long-term borrowings. We keep hearing that there’s a lot of interest from buyers for a stake and they’re more about Altera division, I’ll believe it when I see it. But honestly, it’s shocking that Intel’s stock isn’t down even more here. It fell only 52 cents today after that speech last night.”

Cramer pointed out that, with many of the expansion plans seemingly falling apart and the president furious over the situation, Intel (NASDAQ:INTC) is in a position where it urgently needs to find a way to reconcile with the administration. He went on to say:

“Maybe Trump will help get them a partner to see them through this… I think the stock’s way too expensive here at $20 and change after last night’s speech, just being valued wrong. Talk about being in the crosshairs. Intel’s now ground zero for the end of government largesse, especially after Taiwan Semi committed $100 billion to build semiconductor foundries here in America, and that brings a total of $165 billion, they made a previous commitment. Who the heck needs Intel?”

Intel (NASDAQ:INTC) creates and produces computing products such as processors, memory, and AI solutions.