We're buying the dip in our newest chip stock, getting a better price on a great name

Key points

• We're buying 100 shares of Intel at roughly $103 each.
• Following Friday's trade, Jim Cramer's Charitable Trust will own 500 shares of INTC, increasing its weighting in the portfolio to 1.3% from 1.06%.
• We're nibbling on some more Intel, whose stock was under pressure in a sharp semiconductor selloff.
• Intel dropped 8% as the tech-heavy Nasdaq sank more than 2.5%.
• The broader market S & P 500 was down over 1.5%.