Hugely Bullish Report From Intel

Now we know why we didn't get hammered today. Or at least that's what the most conspiratorial of the bears might think after listening to Intel (INTC - commentary - Trade Now) crow about what looks to be a genuine real recovery in the vein of some that we got used to seeing in the 1990s.

The company said it had the largest sequential sales growth in 30 years! You tell me that's not amazing, given how horrible the economies of the world are, and Intel hasn't even scratched the surface of the mobile Internet tsunami yet! This is a great international company with expanding margins and an amazing franchise that has roared back to life from the $12 range where it was an accidental high-yielder.

Let me tell you how big I think this is. Intel is a stock that has riddled the account bases of Americans ever since the dotcom crash, along with Microsoft (MSFT - commentary - Trade Now) and Cisco (CSCO - commentary - Trade Now). It is pretty hard to believe that Microsoft can be trapped by the $25 strike with this news out. When Cisco went up on the news of its buy of Starent (STAR - commentary - Trade Now), that was another bit of manna from heaven. Yet, all I heard and saw today was gloom, was sadness, was "watch out" and how "toppy" the market looked.

This all has me flummoxed. The largest semi company in the world has the greatest sequential gain in 30 years and we are supposed to be crying in our beer?

This was a remarkable quarter for Intel. I can see it galloping clear to $25 without much effort.

This is a remarkable time for the market.

Forgive me while I celebrate -- a little Intel, a little Starent, and let me throw in a little CSX (CSX - commentary - Trade Now) to boot!

Random musings: Miss my book signing tonight? How about catching me at my own Borders (BGP - commentary - Trade Now) in Bridgewater, N.J., tomorrow night after the show?

At the time of publication, Cramer was long Cisco.

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At the time of publication, Cramer was long Cisco.

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