Cramer thinks an area of the economy is growing white hot. And the surge is not yet reflected in shares of related companies.
"Telco spending on anything related to higher performance video through your cellphone has got to be the cyclically hottest area of tech right now," mused the Mad Money host.
And he added the Street hasn't quite caught on yet, largely because the latest results from bellwether Cisco didn't reflect the trend. The prevailing thought was, "How good could it be for rivals if it's not good for Cisco," Cramer explained.
However, Cramer thinks it is good. Very good.
Part of the Cisco commentary, Cramer says, involves the company's decision to lay-off about 4,000 people. "Can John Chambers declare 'this is the age of renewed telco spend but forgive us while we ax 4000?' No, he can't."
Therefore Cramer thinks the Street has failed to price in this potential surge in spending. And he suggests establishing new positions now, before the next earnings season when he expects to see telco purchases drive results for a slew of companies.