Jim Cramer, the famed investor and host of CNBC's Mad Money, has labeled Intel (INTC) a 'miracle stock' just ahead of the semiconductor giant's fiscal second-quarter earnings report, due after the market close on July 23. Cramer reiterated that Intel remains his top pick in the chip sector, citing a rapid operational turnaround under CEO Lip-Bu Tan.
Consensus estimates call for Intel to report earnings of $0.22 per share on revenue of $14.4 billion, representing roughly 12% year-over-year growth. Heading into the print, Intel shares have surged approximately 150% since the start of 2026.
Why Cramer Is Bullish on Intel
On CNBC's Squawk on the Street, Cramer praised Tan for orchestrating a swift operational overhaul, noting that industry leaders—including Nvidia's Jensen Huang—regard him as the best in the business. Cramer attributed his optimism primarily to Intel Foundry, which has achieved several major milestones in 2026, including a manufacturing deal with Fortinet, a high-profile chip partnership with Apple, and commitments from billionaire Elon Musk's 'Terafab' project.
Intel also became the first semiconductor manufacturer globally to deploy ASML's High-NA EUV (0.55 NA) scanner into active high-volume production for key layers on its Panther Lake (Core Ultra Series 3) processor line. This technological edge could bolster Intel's competitive position in advanced chipmaking.
What Could Drive INTC Shares Higher
Addressing recent speculation about SK Hynix and Intel's New Albany, Ohio campus, Cramer emphasized that domestic manufacturing capacity remains critical to meeting global AI demand. While previous management viewed scaling the Ohio site as overly aggressive, Cramer noted that if Tan signals full-steam development in Ohio alongside the Arizona buildout, Intel stock could move up significantly.
According to Cramer, Tan's standing across Silicon Valley gives investors immense confidence, reiterating that what he 'has done at Intel is nothing short of a miracle.' However, INTC currently trades at 154x forward earnings, making it an expensive name by any measure.
Options Market Signals
Despite valuation concerns, the derivatives market remains positive about Intel's near-term prospects. At the time of writing, the put-to-call ratio on options contracts expiring July 24 stands at 0.66, indicating a strong bullish skew. The upper price on those contracts is set near $114, signaling potential for a more than 10% rally through the end of this week.
Interestingly, Intel's 20-day moving average currently hovers around the $114 level. If upcoming earnings help the stock decisively break above $114, the upward momentum could sustain or even extend further in the near term.
For broader context on the semiconductor sector, see our coverage of Nvidia Stock Rises 3% as Alphabet Earnings Loom; BofA Highlights Vera CPU Opportunity and the Magnificent 7 Earnings Season: Underperformance Tests AI Spending Thesis. Additionally, our Intel Q2 Earnings: Server Pricing Lifts Revenue, but Foundry Losses Test AI Turnaround provides a deeper dive into the earnings details.
This article is for informational purposes only and does not constitute financial advice.
