13 Stocks Jim Cramer Commented On

7. Intel Corporation (NASDAQ:INTC)

Number of Hedge Fund Holdings: 81

Chip manufacturing giant Intel Corporation (NASDAQ:INTC)’s shares are among the top performers in the market. They are up by 122% over the past year and by 14% year-to-date. In January, Seaport Global Securities upgraded the shares to Buy from Neutral with a $65 share price target. In its coverage, the financial firm pointed out that Intel Corporation (NASDAQ:INTC) was experiencing solid demand for its products and tailwinds with the controversial Intel Foundry Business. The foundry business has seen considerable attention from investors and media since Intel Corporation (NASDAQ:INTC) has to secure orders from third parties for its chip manufacturing technologies in order to make the business viable. Financial firm Jefferies, while hiking the share price target to $45 in January, had also pointed towards growing demand for server products. Cramer tied the demand and the foundry business to the skill of Intel Corporation (NASDAQ:INTC) CEO, Lip-Bu Tan:

“Yes it is, it’s a must own. I’ve loved Lip-Bu Tan from the time I met him. Worked with him. I do think what he’s done is he’s ridden the wave, there is a shortage for most his product. They’re actually losing some share to AMD which is doing well but it doesn’t matter. What I point out is even the Foundry initiative, which everyone thought could be a white elephant may be right. Lucky. Good. Doesn’t matter.

“[On US investing $10 billion] That was a good buy.

“I thought that Ben Reitzes piece was very strong, and I think Apple’s going to be able to get some business, they actually need the foundry. Now there’s an example by the way, I’ve been very critical of Pat Gelsinger, remember this is the US government backed them. They have great partners, US government and NVIDIA. By the way, Jensen Huang, long term friend of Lip-Bu Tan, Lip-Bu Tan being perhaps the godfather of semiconductor in this country. Morris Chang of course being in Taiwan.”