Sunday, December 10, 2023
HomestocksCramer: Chips falling the right way for Intel

Cramer: Chips falling the right way for Intel

CNBC's Jim Cramer believes the PC market has bottomed out for chipmaker Intel, but that may be a good thing in the long run.

"Intel has recognized that they missed the boat on mobile and now they're getting aggressive," Cramer said Tuesday on "Squawk on the Street." "There's always some big chatter that they're going to win some big account."

Cramer's comments came on the heels of a JPMorgan Chase upgrade of Intel stock to overweight from neutral on Tuesday. Cramer said his charitable trust also just bought shares of Intel. Cramer called the JPMorgan report an "important call," and said that it represented a trend of analysts trying to find resurgent tech companies.

At last week's Consumer Electronic Show in Las Vegas, Intel announced it would focus on producing computer chips for ever-smaller mobile devices and wearable tech, including ear buds that record heart rate and biometric patches.

(Read more: Wearable devices coming to a workplace near you)

"There are a lot of guys upgrading these tech [stocks] that people have forgotten about," Cramer said. "I think they're trying to find the next Riverbed and Juniper."

—By CNBC's Jeff Morganteen. Follow him on Twitter at @jmorganteen and get the latest stories from "Squawk on the Street."


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