Jim Cramer weighed in on the semiconductor space and had an investing education tip for investors who may be warily looking at semiconductors. 

"I would go read the Texas Instruments Conference call, which has always been a bellwether of how things go. I would also read the Applied Materials conference call. There are very good, very good PR overview of what things you calling. I would read a Only the Paranoid Survive--which is the fabulous book by Andy Grove, who was a a titan--and then I think you'll really have a real handle on things but to all those because otherwise you're going to get lost," said Cramer. "Texas Instruments reported recently and a lot of people thought it was bad and the stock got hammered. I just said, bye bye bye. And that's because I traded Texas Instruments very aggressively during the period of 1982 and '84 and recognize exactly how important they are as a bellwether. I visited National Semiconductor in 1977, which subsequently was bought and recognize that they were a backbone of the economy. So if you read Texas Instruments, you'll feel very comfortable in the space." 

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