Cramer Longs Tech

Reports of the death of tech are completely overblown, said Cramer, who has been combing through transcripts of tech earnings calls. He he sees strong demand for enterprise systems, Internet, cell phones, video games, big-screen TVs and iPods.

In enterprise technology, both IBM (IBM:NYSE - news - research - Cramer's Take)and EMC ( EMC:NYSE - news - research - Cramer's Take) are doing well. It's not a story of one company taking market share from the other, he said.

The Internet is very strong as evidenced by Yahoo!'s strong results. Computer chips through the perspective of Intel may not look that great, but when you look at that market through the Intel and Advanced Micro Devices (AMD:NYSE - news - research - Cramer's Take) together, it doesn't look that bad.

Cell-phone demand as measured by Motorola (MOT:NYSE - news - research - Cramer's Take) earnings is strong. The "cell-phone market is hotter than I've ever seen," said Cramer. He would buy both Motorola and Qualcomm (QCOM:Nasdaq - news - research - Cramer's Take), he said.

The video-game business is booming, said Cramer. He believes there will be Harry Potter-like hoopla for Microsoft's (MSFT:Nasdaq - news - research - Cramer's Take) new Xbox.

I personally own QCOM and have owned it for a long time, its a great stock run by great management and has a great hold on its technology.

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