Jim Cramer thinks that today's tech summit has a lot to do with the cloud. Currently, the government is only 3-4% on the cloud. Cramer noted that it's absurd, considering the amount of money they could be saving.

If they take this summit seriously and get the government to go on the cloud, there will be billions of dollars saved. 

What's Hot On the TheStreet

All eyes on Apple this week: Apple's (AAPL) stock will be on the minds of Wall Street bit more than the norm this week. Shares of the tech giant have fallen 6.9% since the Nasdaq's peak on June 8 amid a broader selloff in tech. Not helping near-term sentiment on the company are two rare analyst downgrades that have questioned how big a seller the iPhone 8 will be.

But investors shouldn't be ready to throw in the towel on Apple by any stretch of the imagination.

Watch all of Jim Cramer's latest videos, right here:

This article was written by a staff member of TheStreet.

If you liked this article you might like

Google, HTC Announce $1 Billion Smartphone Deal

SEC Reveals EDGAR Corporate Records System Was Hacked

Five Sneaky Tactics North Korea Uses To Beat United Nations Sanctions

15 Foods to Avoid if You Have High Cholesterol