Cramer Calls Intel Too Cheap

Intel (INTC: 26.85 0.00%) just reported a good quarter. Actually, they posted a great quarter. In fact, it was the best quarter in the history of the company. However, Wall Street seemed to take little notice. Intel delivered a solid earnings beat and provided strong guidance, but the stock only rose 1.7%.

Jim Cramer told investors on yesterday’s Mad Money show that Intel is “just too cheap”. It is astounding that Intel trades at a lower multiple than International Paper (IP: 30.95 0.00%) or Dow Chemical (DOW: 33.95 0.00%). Cramer said that he has never seen that happen before.

Cramer believes the market has oversold the entire semiconductor sector. However, the strong results from Intel along with bullish data from Novellus (NVLS: 48.44 0.00%) and ASML Holdings (ASML: 45.29 0.00%) point to reasons to be bullish on the sector.