Intel share decline keeps chipmaker in focus as CNBC club eyes further buying

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Intel decline as cnbc eyes buying

Highlights

Intel shares fell more than 3% Friday and nearly 10% for the week, prompting CNBC club to consider further buying after restrictions lift.
SK Hynix debuted on Nasdaq Friday as investors, directed by Jim Cramer, are advised to start with a medium position and expand if shares dip.
Wells Fargo, Goldman Sachs, and Johnson & Johnson report earnings next week, with J&J stock up nearly 8% since April on strong treatment sales.

Chip selloff and portfolio positioning

As reported by CNBC, the tech-heavy Nasdaq is edging lower on Friday under pressure from semiconductor names including Micron, Intel and Broadcom, while the S&P 500 is relatively unchanged.

Investors are also making room for SK Hynix, the South Korean memory chip company that debuts on the Nasdaq on Friday morning. On Thursday's "Mad Money," Jim Cramer says interested investors could start with a medium-sized position in the stock and leave room to build that holding if shares pull back.

Within the club's portfolio, Intel is the chipmaker most closely watched after falling more than 3% on Friday and nearly 10% for the week. Cramer tells Jeff Marks the club would be buying shares on Friday if not for trading restrictions, and says the team may look to add more next week after already increasing the position on Monday.

Earnings week puts banks and healthcare under scrutiny

The club is also preparing for earnings from three portfolio holdings next week, with Wells Fargo and Goldman Sachs due on Tuesday and Johnson & Johnson on Wednesday.

At Goldman Sachs, the focus is on updates from the investment banking division after several deals in the first half of the year. Wells Fargo needs to show improvement after a run of weaker quarters to justify its place in the portfolio.

For Johnson & Johnson, the club is looking for strong sales from its core cancer and multiple myeloma treatments as well as newer products including Icotyde, an oral solution for plaque psoriasis. The stock is up nearly 8% since its last earnings report in April.

In our earlier analysis of Intel (INTC), we noted that the stock was showing bearish technical momentum, trading below key short- and medium-term moving averages while indicators like MACD, ADX, and RSI pointed to elevated downside risk. The outlook emphasized a likely consolidation range, with $114.69 highlighted as near-term resistance and the $98.84 area as a key support level to watch if weakness accelerates.

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