Intel's first-quarter guidance is being misinterpreted, according to CNBC's Jim Cramer.
Cramer said on CNBC's "Squawk on the Street" on Friday that the chip-manufacturing giant is "being wronged by these headlines."
"It was not [weak]," he said. "We're looking at [Intel] as a PC company; it's much more than that."
Intel reported fourth-quarter earnings of 74 cents per share on revenue of $14.72 billion on Thursday, toppling expectations for earnings per share of 66 cents on $14.71 billion in sales. Nevertheless, the company's first-quarter guidance for 2015 came up short as the PC market flattened.
Cramer added he is confident in the company's leadership, especially Brian Krzanich, Intel's chief executive. "Krzanich is reinventing the company before our eyes," he said. "I did not expect a good year last year [from Intel]," Cramer said. "I expected a bad year. I did not expect their strength in the fourth quarter, and I did not expect this company to broaden its reach and at the same time cut its losses."
The company also reassured investors that the first quarter is not its strongest quarter, Cramer said. "They said 'the first quarter is seasonably down; don't worry about the second quarter.' They're spending less and doing much more with it."
—CNBC's Karma Allen and Kate Gibson contributed to this report.