Why Jim Cramer Likes Old Tech Stocks in Intel (INTC), Microsoft (MSFT) and Micron (MU)

NEW YORK (TheStreet) -- TheStreet's Jim Cramer says investors seem to want to play the high-multiple, high-flying cloud and e-commerce names, but he likes the low-risk, high-reward situations in old tech.

Intel  (INTC) is the one to watch when it reports earnings next week. The company already pre-announced better-than-expected earnings, and Cramer notes that in the old days of the 286, 386, 486 Pentium cycle, Intel would do this and then report even better earnings.

This is what he wants to see from Intel next week and, if it happens, he believes the stock will climb to $32 or $33.

Must Watch: Jim Cramer: Intel and Old Tech Companies Are Low Risk, High Reward

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Cramer also suggests watching Microsoft  (MSFT) and Micron  (MU) because old tech is doing well thanks to a pickup in demand with no new capacity coming. 

TheStreet Ratings team agrees with Cramer's take, as rates INTEL CORP as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:

"We rate INTEL CORP (INTC) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, solid stock price performance and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

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