Jim Cramer Calls Out Intel's $18.8 Billion Foundry Loss Despite Subsidies: 'We Sell Your Stock'
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Jim Cramer criticized Intel's $18.8 billion loss in its foundry division for 2024, despite receiving $8.5 billion in subsidies from the U.S. CHIPS Act. He questioned the sustainability of U.S. semiconductor manufacturing amid global competition. Intel's ambitious 18A chip project faces yield issues, threatening its competitiveness against rivals like AMD and Qualcomm. Fitch Ratings downgraded Intel's credit rating from BBB+ to BBB, highlighting ongoing demand struggles. Despite a revenue of $12.86 billion in Q2, Intel reported a loss of 10 cents per share, missing analyst expectations.
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