Cramer Talks About DoorDash and Intel Stocks

Published on August 2, 2024, Jim Cramer provided insights into several key stocks experiencing significant movements following their latest earnings reports. Intel, a major player in the semiconductor industry, saw its shares plummet over 25% after announcing disappointing quarterly results, weak future guidance, and a substantial restructuring plan that includes laying off 15,000 employees. Cramer expressed concern over the company's direction, noting that the analysts seemed more focused on questioning CFO David Zinsner than CEO Pat Gelsinger, indicating potential instability within the firm. In the athleisure sector, Lululemon faced backlash after pulling a line of leggings due to consumer complaints regarding their fit. The company's stock fell by 4%, with Cramer highlighting a perceived lack of innovation and a weak product pipeline as contributing factors to the decline. This situation raises questions about the brand's ability to maintain its competitive edge in a crowded market. Conversely, DoorDash emerged as a surprising performer, contradicting prevailing assumptions about consumer weakness. Cramer praised the stock, suggesting it remains a strong investment despite broader economic concerns. Lastly, Snap's shares suffered a significant drop of approximately 25% due to disappointing guidance, leading Cramer to recommend investors consider Meta Platforms instead, as it appears to be capturing a larger share of the advertising market. Overall, the market reflects a mix of challenges and opportunities for these companies.