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Cramer: Trading Intel’s Earnings Beat

All the signs were there, but investors just weren’t listening. The semiconductor industry was on the rebound.

AMD , Taiwan Semi , Samsung – all of these chipmakers have had positive things to say about the business lately. So the astute watcher of Wall Street might have anticipated Intel’s tremendous earnings beat, delivered Tuesday night after the bell. The company reported profits of 18 cents a share on revenues of $8 billion, while analysts had expected just 8 cents a share on $7.28 billion. Intel even guided higher – much higher – for the current quarter, predicting sales of about $8.5 billion. The Street was look for only $7.8 billion.

Thanks to Intel, the Nasdaq soared 63 points on Wednesday. And the company’s good fortune no doubt played a part, along with some important economic news, in the Dow’s 257-point day. Investors seemed to shrug off a largely negative few weeks and put the market’s bearish sentiment in its place. All of this is great, of course. It’s reason to be excited. But buying and selling stocks is about looking forward. So that begs the question: What now?

Well, Cramer answered that question during today’s Mad Money. He highlighted what he thought was the best play on Intel’s quarter. The answer might be a bit more obvious than you’d expect.

Watch the video for Cramer’s full report.

Call Cramer: 1-800-743-CNBC

Questions for Cramer? madmoney@cnbc.com

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