Tech stocks are up only because expectations were so low, Jim Cramer said on TheStreet.com TV's Wall Street Confidential video Thursday.

In the case of Nokia ( NOK), the expectations had fallen because of a bad Motorola ( MOT) earnings call, he told Aaron Task, the host of Wall Street Confidential.

Also, Qualcomm ( QCOM) lowered its expectations, and concerning eBay ( EBAY) -- "If you check the press stories ahead of when it reported, in each case the media said eBay was going to have a bad quarter," Cramer said.

"These are all lowered-bar beats, which is often what you want for a pop, but not what you want for a month from now," he said.

Cramer said he doesn't like Qualcomm and believes its rally should last only 2 or 3 points -- it's better at selling its story than actually executing.

However, he called Microsoft ( MSFT) a "favored stock" and said all it needs to do to go higher is not screw up.

Cramer named Microsoft, along with Apple ( AAPL), Cisco ( CSCO), Google ( GOOG) and Hewlett-Packard ( HPQ) as his five favorite big-cap tech stocks.

When people get a pop in any other tech stocks, excluding these five favorites, Cramer advised them to lighten up their holdings.

Moving on to the railroads, he told Task that Union Pacific ( UNP) has had a "huge blow-out" quarter. Cramer said he's been buying it for his Action Alerts PLUS charitable trust and believes it will go to $110. Union Pacific was recently trading at $97.19.

Away from the rails, the trucking companies are not doing well, he said. They don't have enough drivers, partly because it's not a job people want anymore. Plus, the U.S. has an "inferior" road system because the government has decided not to invest in it, he said.

At the time of publication, Cramer was long HP and Union Pacific.

Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for Action Alerts PLUS. Listen to Cramer's RealMoney Radio show on your computer; just click here. Watch Cramer on "Mad Money" at 6 p.m. ET weeknights on CNBC. Click here to order Cramer's latest book, "Real Money: Sane Investing in an Insane World," click here to get his second book, "You Got Screwed!" and click here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by clicking here.

TheStreet.com has a revenue-sharing relationship with Traders' Library under which it receives a portion of the revenue from Traders' Library purchases by customers directed there from TheStreet.com.

More from Personal Finance

How to Calculate Your Net Worth and Pin Down Your Financial Health

How to Calculate Your Net Worth and Pin Down Your Financial Health

The Best States for Millennials' Money and Health

The Best States for Millennials' Money and Health

U.S. Banks Urged to Make Small Loans In Competition With Payday Lenders

U.S. Banks Urged to Make Small Loans In Competition With Payday Lenders

How to Void a Check

How to Void a Check

Rent the Runway co-founder Chats with Cramer on Equal Pay and a Good Pair Jeans

Rent the Runway co-founder Chats with Cramer on Equal Pay and a Good Pair Jeans