Intel Jumps 5% as Jim Cramer Sees 63% Upside to $200
Updated
Updated · CNBC · Jun 12
Intel Jumps 5% as Jim Cramer Sees 63% Upside to $200
1 articles · Updated · CNBC · Jun 12
Summary
Intel rose 5% Friday after a roughly 9% gain Thursday, as Jim Cramer called it his favorite stock and said shares could reach $200.
Bank of America's double upgrade and CEO Lip-Bu Tan's efforts to restore confidence drove the bullish case, with Cramer saying Intel's foundry and data-center CPU businesses are gaining credibility.
Cramer argued Intel's prospects now surpass Nvidia's in semiconductors, calling it "the greatest story right now" in the sector.
Elsewhere in Friday's market, SpaceX's IPO was priced at $135 and indicated near $165, while oil stayed down about 1% near $87 on hopes a U.S.-Iran deal could ease supply concerns.