Jim Cramer Says “Once They Cleaned Up the Balance Sheet, Intel Instantly Became a Much Better Story”

Key Highlights

• The chipmaker seemed like it was being eaten alive by NVIDIA and AMD.
• The former CEO Pat Gelsinger, practically ran it into the ground with his ambitious plans to build semiconductor manufacturing facilities….
• A lot of people were worried about this national treasure.
• But then they brought in Cramer fave Lip-Bu Tan as CEO, and he has managed to wrangle a bailout from the federal government, which took a nearly $9 billion stake… Once Uncle Sam got on board, even NVIDIA made a $5 billion investment in Intel.
• The stock’s been on fire ever since because once they cleaned up the balance sheet, Intel instantly became a much better story, and the investors had a much better bottom line.