NEW YORK (TheStreet) -- On his Wednesday Stop Trading! segment on CNBC, Jim Cramer said that Intel (INTC) - Get Report is undervalued and that those who aren't buying Intel are "wrong."

"I think people should listen to

Intel's conference call," said Cramer, acknowledging that analysts "hate" the stock. He also observed an uptick in companies buying Intel products.

Meanwhile,

Novellus

(NVLS)

has signaled that the uptrend in flash memory is poised to continue. "That's why I think

SanDisk

(SNDK)

could still go higher," said Cramer.

Novellus also signaled a continual uptrend in DRAM.

"I think semiconductors are still very cheap," said Cramer, also bringing up

Kulicke and Soffa Industries

(KLIC) - Get Report

stock.

China GDP data is expected on Thursday and Cramer sees stocks like

Freeport-McMoRan

(FCX) - Get Report

and

Caterpillar

(CAT) - Get Report

being shorted in anticipation of a deceleration in China.

"I'm saying let them come down then tomorrow you can buy Caterpillar -- after China talks about its deceleration and soft landing" he advised. He continues to think that China's slowing GDP will be short-term. "But longer term, China is not the only country" that will be booming he said, echoing comments from his Tuesday segment of

Stop Trading!

.

"The world is booming, except for the United States ... even Germany," he said.

Cramer noted that

BMW

has raised its forecast and

Banco Santander

(STD)

just moved to Germany, which is a "big country."

"France is very strong," he added. "Brazil -- we talked about it yesterday."

Towards the end of

Stop Trading!

, Cramer again praised

Fed

chairman Ben Bernanke, who he thinks is "totally getting this right."

Cramer's Stop Trading!: Citi, Apple

Click here for Cramer's Tuesday Stop Trading! segment

-- Reported by Andrea Tse in New York.

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