Micro Devices, Micro Importance - TheStreet

Micro Devices, Micro Importance

Cramer's frustrated by the media attention AMD's getting -- especially when Yahoo! reported a beautiful quarter.
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Can you figure out what's with these old-media types and

Advanced Micro Devices

(AMD) - Get Report

? The story gets A-3 status in

The Wall Street Journal

and big play in

The New York Times

. Meanwhile,

Yahoo!

(YHOO)

, which reported a stunning quarter, gets relegated to the back pages as if it's somehow unimportant.

When will the media realize that AMD is simply an unimportant company and that Yahoo! is incredibly important? When I see this disparity in ink, it reminds me of how blind most of these dead-tree folks are to the importance of the Net. The Net may be the fixation of the nerdy sections in the back of both papers, but when it comes to what matters, we get this focus on a ne'er-do-well semi-competitor of

Intel

(INTC) - Get Report

.

We have to get some new blood at these older media shops. I see this bias constantly, whether it's with the

S&P 500

, which has almost no Net in it, or the

Dow Jones Industrial Average

, which somehow prefers to measure

Sears

(S) - Get Report

and

Goodyear

(GT) - Get Report

than

America Online

(AOL)

, Intel,

Amazon.com

(AMZN) - Get Report

,

Microsoft

(MSFT) - Get Report

and Yahoo!. (I don't give a darn about that

Nasdaq 100

vs.

New York Stock Exchange

thing.)

Painful.

Random musings:

No follow-through. Yep, I can see the copy as clear as day:

Wall Street failed to follow through today, as the market tumbled 40 points after a one-day run-up following the Fed's bias-tightening. It was a bloody session, with blue-chips ranging from IBM (IBM) - Get Report to General Electric (GE) - Get Report getting clocked.

I'm really shakin'

This

Webvan

board has kept me from bottom-fishing in

Safeway

(SWY)

. Maybe that company's just the

Barnes & Noble

(BKS) - Get Report

of the food-store business!

Antitobacco lawyers have done it again. They have filed a case against

Aetna

(AET)

in the state where it all began, Mississippi. That was the state that led the tobacco companies to give in. Next thing you know, they will enlist the state's attorneys general in this battle, get them to help foot the bill and build the publicity case. Unbelievable. Good luck, HMOs -- you will need it!

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long America Online, General Electric, Intel, Microsoft and Yahoo!. His fund often buys and sells securities that are the subject of his columns, both before and after the columns are published, and the positions that his fund takes may change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Cramer's writings provide insights into the dynamics of money management and are not a solicitation for transactions. While he cannot provide investment advice or recommendations, he invites you to comment on his column at

jjcletters@thestreet.com.