Jim Cramer Recommends Buying Intel Shares Amid Recent Drop
On Wednesday's Morning Meeting livestream of the CNBC Investing Club, Jim Cramer highlighted several market developments. He noted that stocks fell sharply due to rising oil prices driven by renewed Iran war concerns and ahead of a Federal Reserve interest rate decision. The odds for no change in rates stood at about 64%, while a hike was seen as having roughly 36% probability. Cramer emphasized the current market is being influenced more by sentiment than earnings, citing stocks like Capital One and Boeing as examples. He also discussed tech companies Meta Platforms and Microsoft preparing to report earnings against a challenging backdrop for AI monetization. Additionally, Cramer pointed out that Intel had dropped over 4.5%, trading below $83 per share after its recent earnings report. Cramer sees the decline in Intel's stock as an opportunity to purchase more shares at a better price due to increased demand for CPUs and manufacturing operations. He remains bullish on Intel despite the drop, viewing it as undervalued near $80.
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Topics: earnings_season interest_rates investor_sentiment oil_prices tech_sector