Seagate Technology (STX) shares surged on Monday following its upbeat quarterly earnings.

Seagate's focus is on disk drives, but the company's performance has implications for other stocks, according to TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer. 

"If drives are doing well, then perhaps PCs are doing well," Cramer noted, referring to the thought process of investors on Monday. "If PCs are doing well, you could make a case that DRAMs are doing well. If DRAMs are doing well, you could make a case that Micron Technology (MU) is doing well. If Micron is doing well than you could make the case that LAM Research (LRCX) is doing well."

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

Jim Cramer will host CNBC's Jon Najarian, TD Ameritrade's JJ Kinahan, famed analytics expert Marc Chaikin and other market mavens on Oct. 28 in New York City to share successful strategies for active investors.
Click here for the full conference agenda or to reserve your seat now.

More from Video

NYSE Trader Expects Blowout Earnings From Alphabet, Amazon and Facebook

NYSE Trader Expects Blowout Earnings From Alphabet, Amazon and Facebook

Tilray CEO: Surging Cannabis Industry Is a Threat to Food and Drug Players

Tilray CEO: Surging Cannabis Industry Is a Threat to Food and Drug Players

How This Former VC Player Became CEO of $2 Billion Cannabis Company Tilray

How This Former VC Player Became CEO of $2 Billion Cannabis Company Tilray

Lee Munson: Not Peak FANG Yet

Lee Munson: Not Peak FANG Yet

Even Standing Desk Company Varidesk Is Watching How the Trump Tariffs Play Out

Even Standing Desk Company Varidesk Is Watching How the Trump Tariffs Play Out