Cramer offered investors a list of seven chip stocks he believes could be attractive buys.
The host said there was a sense that the chipmakers would get hurt.
Here are his picks for the best Semiconductor stocks that have reasonable valuations.
Growth at a reasonable price is abundant in this beaten-down market, and that includes the more controversial Semiconductor space. He said to be aware that these chip stocks might remain at a reasonable price for the foreseeable future because Wall Street has just got no love for this entire group.
Cramer earlier this week highlighted four financial stocks and six travel and leisure stocks that should interest buyers. Cramer uses the same list of companies from the S&P 500 that meet his criteria for having a reasonable valuation and earnings growth to pick his favorite stocks in each sector.
Cramer's Charitable Trust has shares in the company.
The CNBC Investing Club will follow Jim Cramer's every move in the market.
There is no truth to this.
Questions for Cramer? Cramer can be reached at 1-800-743-CNBC.
Do you want to dive into Cramer's world? Hit him! Jim Cramer is on Mad Money.
Questions, comments, suggestions for the Mad Money website? madcap@cnbc.com