(Click for video linked to a searchable transcript of this Mad Money segment)
Looking for an affordably priced stock? Cramer hears you.
And in the $10-$50 price range, "I like GT Advanced Technologies," said Cramer. Although the stock has already made significant gains, "I think it has what it takes to keep rallying."
Largely Cramer views the stock is a play on the tech industry's growing interest in sapphire, one of the hardest substances on earth. " is a maker of equipment that's used to produce sapphire-based LED's," explained the "Mad Money" host. And both Apple and Samsung are using more sapphire-based innovations in their gadgets.
That alone, suggests the company may experience strong demand for its products and services for quite some time to come. But there's another catalyst that sets this stock apart from rivals and it's specific to GT Advanced Technologies.
"Apple loaned them $578 million to build a big synthetic sapphire plant in Arizona that will be able to directly supply the iPhone maker with sapphire for years to come," Cramer said.
The development triggered speculation that "Apple might change the material they use to make the touchscreen on the iPhone," Cramer said. "Right now Apple is using a hard glass made by Corning. The trouble with glass, though, is that it breaks. If Apple were to switch to sapphire, the thinking goes, they'd have a product with an unbreakable touchscreen."
Taking that theoretical scenario one step further, "If Apple were to make that switch, it would be a gigantic positive for GTAT and the stock should roar." Cramer said.
Of course, that kind of bet is purely speculative; therefore Cramer can only advocate a position in GT Advanced technologies as a spec play.
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"I would only buy in small increments, using limit orders. It's a $16 and change stock that could easily trade down to $14 on no real news because it's so volatile," Cramer said. Nonetheless, if you want to harness the opportunity, Cramer added, "if the pullback continues, this stock is worth buying in increments on the way down. However, if it shoots up tomorrow, take a pass for the moment—put it on your shopping list and circle back if it comes down again."
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