Jim Cramer Says “Intel Needs the Money”

Intel Corporation (NASDAQ:INTC) is one of the stocks Jim Cramer talked about. Cramer mentioned that the company’s balance sheet is not in good condition. He commented:

“The anecdotal side suggests that there have been some layoffs, 25,000 at Intel, 15,000 at Microsoft, but nothing else that comes close. Now Intel’s problems are well documented, although they actually may be able to solve them if the government does take a stake in the company. That would be terrific. You know why? Because its balance sheet is really in tatters. Intel needs the money; the government has it. It would be fabulous.”

Ken Wolter / Shutterstock.com

Intel Corporation (NASDAQ:INTC) develops and delivers semiconductor products, including CPUs, GPUs, FPGAs, and system-on-chip solutions, along with memory, networking, and edge computing technologies. When a caller asked about the stock in a July episode, Cramer replied:

“Okay, you know, this is an absolutely great question because, you know, I used to be an Intel hawk, and then I told everyone to sell it for about 40 points. It was a great call by me. This Lip-Bu Tan, who took over, he’s monster good, but I think even he is going to have to take another six months to a year before he can turn it around. If you are willing to wait that long, I bless it. But that’s not what I think you should do.”

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.