Intel shares climbed sharply in late trading on Wednesday, buoyed by a double upgrade from Bank of America and a forceful buying recommendation from CNBC's Jim Cramer.
The stock's rally underscores a shift in sentiment toward the struggling chipmaker, which has been working to reestablish its position in the competitive semiconductor manufacturing market.
Jim Cramer, host of CNBC's 'Mad Money', emphasized the urgency for investors to enter the stock, stating that those who do not already own Intel need to get in.
The upgrade from Bank of America analysts signals growing confidence in Intel's turnaround strategy, particularly regarding its foundry business.
This financial backing coincides with broader market interest in the company's ability to secure major contracts, including a reported potential deal to manufacture chips for Apple's devices.
The combination of institutional support and high-profile media endorsement has created a potent catalyst for the stock's recent price action.
Jim Cramer, host of CNBC's 'Mad Money', emphasized the urgency for investors to enter the stock, stating that those who do not already own Intel need to get in.