Jim Cramer says semiconductor stocks are bouncing back from 2018's slump and they 'punch well above their weight.'
The semiconductor sector is turning the corner and showing signs that the global economy could be stronger than previously thought, CNBC's Jim Cramer said Tuesday.
"These days the semiconductor companies have their tentacles in everything," the "Mad Money" host said."Now, I often tell you that housing punches above its weight when we talk about the economy. If housing's strong, then the strength might spread to banks and retail. These days, in the new global economy dominated by data, the semiconductor stocks punch well above their weight, just like housing.
But as both the data center segment and trade negotiations between the U.S. and China appear to be improving, the outlook is better than before, he said. Furthermore, Nvidia's move for Mellanox doubles down on the data center and artificial intelligence segment, and eases worries that China would block the deal, the host said.
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