NEW YORK (TheStreet) -- Shares of Qualcomm (QCOM - Get Report) are jumping higher, up 3.5% on Monday on news that the company is approaching an antitrust settlement with Chinese regulators.

The settlement amount is likely to surpass $1 billion, but it doesn't matter as long as Qualcomm can regain some momentum in China, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Mad Dash" segment. 

QCOM Chart
Qualcomm QCOM data by YCharts

Regardless, "I don't like Qualcomm here," Cramer said. There are cheaper stocks in the industry like Skyworks Solutions (SWKS - Get Report) and Cypress Semiconductor (CY - Get Report)  , he explained.

Cramer turned his attention to Shake Shack (SHAK - Get Report) , after the stock was initiated with a sell rating and $21 price target at Longbow Research. 

The company went public on Jan. 30 at $21 per share and quickly doubled, eventually touching a high of $52.50. Shares currently trade for around $40. 

Cramer says the analyst sees significant expansion risk for Shake Shack. 

"You have to think about where it's going to be five years from now," Cramer said. If investors believe Shake Shack is going higher, they should simply wait for shares to trade at their desired price and buy. 

Don't try to trade Shake Shack or get fancy, Cramer said. Investors should simply buy the stock at a price they're comfortable with and hold on to it.

Shake Shack might pull back into the $30's and possibly even the $20's, Cramer said. But just look at Chipotle Mexican Grill (CMG - Get Report) and how much that stock has rallied over the years, he noted.

-- Written by Bret Kenwell 

Follow @BretKenwell

At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.