One company that doesn't get enough credit? ASML Holding NV (ASML) . The Netherlands-based company has its ADRs trade on the Nasdaq and is seeing its stock rally some 4% after the company reported second-quarter earnings results.
ASML may fly under the radar for some, but it plays an important role in technology, TheStreet's founder Jim Cramer, who also manages the Action Alerts PLUS charitable trust portfolio, said on CNBC's "Stop Trading" segment.
The company makes lithography systems for the semiconductor industry. These gigantic $115 million machines are an important component to production, Cramer explained, noting that ASML has a $2.8 billion backlog. That's nearly equivalent to half of its revenue last year.
ASML's positive results and subsequent rally to new 52-week highs on Wednesday has got its peers on the move, he pointed out. Lam Research (LRCX) is up 2% and is just a stone's throw away from its 52-week highs, while Applied Materials (AMAT) nearly made new yearly highs on the day.
It's just a reminder to investors that there's more to watch than the FANG stocks, Cramer said. Don't forget about companies like ASML, Micron Technology, Inc. (MU) , Autodesk, Inc. (ADSK) or Tech Data Corp (TECD) , he concluded.
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