Stocks rose Tuesday and the S&P 500 set a record intraday high as equities built off the gains that kicked off the week.
TheStreet founder Jim Cramer said that among other things he was keeping an eye on Micron Technology (MU) - Get Micron Technology, Inc. (MU) Report, which is scheduled to report earnings on Wednesday and Nvidia (NVDA) - Get NVIDIA Corporation Report.
Micron Technology: 'The Most Important One'
Cramer said that he thinks there is still strength in DRAM, still strength in strength in NAND.
"I think Micron is the most important one because the semiconductors are really hanging by a thread," he said.
In March, Micron reported fiscal-second-quarter revenue and adjusted earnings that exceeded Wall Street estimates.
Cramer also discussed Nvidia (NVDA) - Get NVIDIA Corporation Report, noting that three of the world's largest chipmakers went against other big tech companies and blessed the graphics-chip specialist's proposed acquisition of U.K.-based Arm Holdings.
Nvidia: 'I'd Like to See Some News Here'
Broadcom (AVGO) - Get Broadcom Inc. Report, Marvell (MRVL) - Get Marvell Technology Group Ltd. Report and Taiwan's MediaTek have become the first Arm customers to publicly support the $40 billion proposed takeover.
Cramer said "this is very, very important."
"I'd like to see some news here," he said.
Earlier this month, Dealmaker reported that the European Commission hasn’t raised objections to the semiconductor titan’s proposed $35 billion takeover of Xilinx.
Advanced Micro Devices, Nvidia, Broadcom and Marvell are holdings in Cramer's Action Alerts PLUS charitable portfolio.