tech
Intel soars on double upgrade from BofA. Here's what Jim Cramer says investors must do
Jim Cramer said investors who don't own any Intel need to get in.
TL;DR
- Jim Cramer considers Intel his top chip stock, surpassing Nvidia.
- Bank of America upgraded Intel to 'buy' with a higher price target, citing AI opportunities.
- Intel's advantage lies in both its CPUs for inference and its contract manufacturing (Intel Foundry).
- BofA projects Intel's server CPU sales to reach $40 billion by 2030.
- Intel Foundry is seen as a potential alternative to TSMC, with partnerships like the one with Cadence Design Systems boosting confidence.
- Intel CEO Lip-Bu Tan is credited with improving manufacturing quality and securing external customers for Intel Foundry.
- The growth of agentic AI systems increases demand for CPUs, benefiting companies like Intel and Arm Holdings.