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This chipmaker ‘can be a leader' that sparks gains in other semiconductor stocks, Cramer says

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“This stock can be a leader. There are others that can go with it,” CNBC’s Jim Cramer said Monday about Micron Technology.

"This stock can be a leader. There are others that can go with it," Cramer said on"Squawk on the Street.""For instance, historically, you might find that AMD will go with it because there's a big PC component," he said, referring to

, which designs central processors for computers. Micron makes memory chips that also go into computers.to buy, from hold. The firm also raised its price target to $85 per share, up from $65, implying more than 20% upside from where the stock closed Friday, at $69.88 per share. Micron stock climbed modestly in Monday trading.

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