Jim Cramer came out on TheStreet.com video today discussing the reasons he thinks you should not chase Intel (INTC) higher on today’s gains. We earlier noted as being up after the Goldman Sachs upgrade to a 16-month high, but Cramer is taking a bit of the air out of it since shares are up 12% since he booted it in his feature for his "New Four Horsemen of Technology."
It didn’t sound like Cramer hates Intel or anything like that in his video today. He just thinks that the relative gains you can see from here are not worth buying the stock. You can buy Intel for $0.50 or Google (GOOG) that can go up $100.00. He thinks this won’t even perform as well as a Caterpillar (CAT) and other infrastructure and equipment plays. Cramer did note that Intel has an upper hand obviously over AMD, so it isn’t as though he’s trying to only paint a negative picture. Cramer appears he’s still able to influence this trade because shares have backed down $0.12 in just over the last hour after they were at $24.10 around noon.
Jon C. Ogg
June 15, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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