Nvidia’s (NVDA) investment prospects still shine brighter than Intel’s (INTC), CNBC’s Jim Cramer said Wednesday.
Intel plans to spin out its programmable chip unit through an initial public offering in the next two to three years,
"You're selling the crown jewels in order to be able to finance what's not a crown jewel — that's putting money behind a hand that's not as good and throwing away some better" assets, Cramer contended Wednesday on"Squawk on the Street."that focuses, in large part, on advancing its manufacturing capabilities for its own processors and growing a business that makes chips for other semiconductor firms.
Optimism around Nvidia's artificial intelligence chips propelled its stock to a series of record highs and a market value north of $1 trillion earlier this year. However, over the past month, Nvidia shares have fallen about 10%. "Right now everyone is against Nvidia," and worried that its stock price soared too high, too fast, Cramer acknowledged."If you have the best chips, it really doesn't matter." He added,"Next year is going to be a very big year for Nvidia" asCongress31-year-old teacher quit her job.
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