CNBC’s Jim Cramer (Jim Cramer) fell after the news of one of its main competitors, Intel (Intel), the stock of one of his favorite semiconductor companies.
After Intel announced that it would take over as CEO within a month, Advanced Micro Devices’ stock price fell nearly 4%. Intel shares rose 7% because investors welcomed the resignation of current CEO Bob Swan (Bob Swan) so that Intel alumnus Pat Gelsinger, who leads VMware, would take over the news in February.
“As long as Intel needs to change, the most important thing here is that you now have the opportunity to buy Intel̵
At AMD, the buyer will get a stake in a $110.4 billion company whose stock almost doubled last year. Intel’s market value is larger, with a market value of $233.4 billion, but the company’s stock price has fallen by more than 16% in 2020 due to the company’s reported delay in developing new chips and the loss of an important partnership with Apple.
Before these disasters, companies such as AMD and Samsung began to grab market share from Intel.
Cramer praised AMD CEO Lisa Su’s leadership of graphics chip manufacturers, and he also reiterated his love for the $335 billion semiconductor company Nvidia.
Kramer said: “I would rather buy the stock of AMD that beat Intel, AMD.” “Under Lisa Su’s incredible leadership, they have evolved from semiconductors that have also been run (always second only to Intel’s violin). Become a semiconductor that makes better chips.”
The comments were made after Wall Street stocks were mixed. The Dow Jones Industrial Average closed down 8 points, or about 0.03%, to 31,060.47. Both the S&P 500 and the Nasdaq Composite Index continued their gains from Tuesday, rising 0.23% to 3,809.84 and 0.43% to 13,128.95, respectively.
So far, these three averages are still a red week.
Disclosure: Cramer’s charitable trust owns shares in Advanced Micro Devices and Nvidia.
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