Jim Cramer’s Bold Predictions About These 12 AI Stocks

9. Intel Corporation (NASDAQ:INTC)

Number of Hedge Fund Holders In Q3 2024: 68

Date of Cramer’s Comments: 09-06-24

Performance Since Then: 10.3%

Intel Corporation (NASDAQ:INTC) is the troubled American integrated chip manufacturing giant that’s been beset with multiple woes over the past year or so. Since Cramer’s September comments, its shares have gained 10.3%. Several events have driven the upward momentum. For starters, in November, Intel Corporation (NASDAQ:INTC) guided $13.8 billion in midpoint sales that beat Wall Street estimates of $13.66 billion. The firm also announced progress with its cost-cutting plans. Then, in December, the stock rallied and then fell after CEO Patrick Gelsinger’s sudden departure. Year-to-date Intel Corporation (NASDAQ:INTC)’s shares are up 16% on market rumors that Elon Musk or others might acquire the company. Here’s what Cramer said in September:

“The Financial Times reports that Intel has been rocked by key defections, including Stuart Pann who was named head of the foundry business in 2023. Shlomit Weiss, a key designer, departed in April. Coupled with stock price declines, the deck looks increasingly stacked against CEO Pat Gelsinger’s turnaround plans.”