Jim Cramer’s Bold Predictions About These 9 Semiconductor Stocks

6. Intel Corporation (NASDAQ:INTC)

Number of Hedge Fund Holders In Q3 2024: 68

Date of Cramer’s Comments: 09-06-24

Performance Since Then: 0.04%

Intel Corporation (NASDAQ:INTC) is the integrated chip manufacturer that we covered in detail in the introduction to this piece. The introduction is sufficient to describe in detail the turmoils that it has faced in 2024. Now, the keys to Intel Corporation (NASDAQ:INTC)’s hypothesis are its 18A manufacturing technology and a potential spinoff of its manufacturing business to reduce costs. Since September, the stock has been rather muted and while it hasn’t recovered from the July bloodbath, the shares have posted modest gains. Major developments have included the surprise departure of CEO Patrick Gelsinger and Intel Corporation (NASDAQ:INTC)’s $8.5 billion chipmaking grant from the US government potentially being under threat and an impediment to its spinoff plans. Here’s what Cramer said:

“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.”