On July 15, Jim Cramer, the host of Mad Money, announced that Intel is his favorite stock, highlighting the company’s key role in the booming demand for artificial intelligence infrastructure. Cramer pointed out that Intel is the third-largest customer of ASML, a Dutch semiconductor manufacturer, which is benefiting from strong demand for advanced lithography systems.
In a post on X, Cramer mentioned that he would reaffirm this view during a CNBC Investing Club meeting, stating, "Intel is the third biggest customer of ASML." This endorsement is particularly significant, considering ASML's ongoing capacity expansion that signals solid demand for semiconductor technology.
Despite Cramer's bullish outlook, Intel's stock faced a downturn following his announcement, closing 4.4% lower and dropping an additional 2% in pre-market trading the next day. This reaction isn't entirely surprising, as Cramer's past predictions have faced skepticism. In a similar vein, he had recently encouraged investment in IBM, which saw its shares plummet by 25% within 24 hours.
This material is informational and not financial advice.
