2. Research firm said that EMC’s Q4 has improved significantly. If that’s the case, then Cramer refused to believe that the company’s performance would fall off a cliff immediately after the new year.
3. Micron Technology is profitable for the first time in three years, thanks to an increase in demand and prices for memory, demand for servers and Microsoft’s Windows 7 release.
4. Jabil Circuit is also reporting strong numbers and issued guidance for three times its previous expectations. This company in particular is important, Cramer said, because it counts Cisco Systems, Nokia, Motorola and other big-name tech firms as clients.
5. Arrow Electronics just told us that demand for semiconductors and other components is up in North America, Europe and Asia. This is a company with 800 suppliers and 130,000 customers, making it an important link in the tech chain.
6. Avnet on its analyst day predicted accelerating growth going into the first quarter, as North America starts to catch up to Asia. This is another big player with 100,000 customers.
7. ON Semi CEO Keith Jackson has told Mad Money that demand is strong for autos, video games and cell phones.
8. Infineon said on Tuesday that auto and industrial strength was beginning, those admittedly it’s not as strong as rivals STMicroelectronics and Texas Instruments . But Infineon’s inventories are so low that its factories are running at almost full tilt.
9. ThinkEquity’s note on SanDisk showed that pricing for memory chips is on the rise, as the company’s clients – Samsung, Hynix, Toshiba – are running at full capacity and supplies are constrained. Pricing should in fact be down at this point in the year, but the opposite is true because SanDisk’s chips are in such high demand.
10. Texas Instruments, Microchip Technology and National Semiconductor in the past month have all reported an improvement in business. That puts them in company with Xilinx and Altera as semi companies who are doing well. These specialized chipmakers also play a part in Cramer’s favorite growth trend, the mobile Internet, which he said is on fire right now.
Given these reasons, Cramer has to believe that tech’s run will continue into Q1 2010.
That means selling the sector right now, he said, “is just plain nuts.”
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