We’re buying more of Jim Cramer’s new favorite chip stock on the dip

Shortly after the opening bell, we will buy 100 more shares of Intel at roughly $106 each. Following Monday’s trade, Jim Cramer’s Charitable Trust will own 1,000 shares of INTC, increasing its weighting in the portfolio to about 2.75% from about 2.5%. We’re picking up more shares of Intel, consistent with the game plan we laid out in Friday’s Morning Meeting. Shares were indicated a few dollars lower in premarket trading, extending its recent drop despite continued signs that demand for artificial intelligence chips exceeds supply. Earlier Monday morning, Taiwan Semiconductor Manufacturing Company (TSMC) reported a strong June, with sales…