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While many of the market's semiconductor stocks slid into Tuesday's close, CNBC's noticed one key player prevail: the stock of Advanced Micro Devices, which has rallied an astounding 192 percent just in 2018.
"Many of the semiconductor stocks were down today, but not this one," the "Mad Money " host said. "Why? End markets."
A leader in chips — a colloquial term for high-power computer processors — for personal computers, video gaming, data centers and cloud computing, AMD has positioned itself in a number of growth areas under Su's leadership, Cramer said.
"In fact, AMD and Nvidia are the two chipmakers most intertwined with the growth of all this cloud-based software, " he noted.
The semiconductor space, an industry that makes minuscule chips for massive industries like gaming, data collection and storage, cloud computing and the Internet of Things, has been at the center of the U.S.-China conflict over trade and intellectual property. Many top chipmakers including AMD receive notable annual revenues from China.
But Nvidia and Intel, another major competitor, don't pose a particularly large threat for AMD simply because of the growing need for high-power processing chips, the "Mad Money" host said. That need is sometimes represented as the industry's total addressable market.
"I think there's room enough for all of them," Cramer said of the leading chipmakers. "In short, AMD's part of the tech renaissance that's hard to deny and even harder for investors to bail on, no matter how much they [hear] experts fret about how the bull market is getting long in the tooth."
Cramer also sat down with AMD CEO Lisa Su for an interview Tuesday. Watch it here.