Seagate Technology (STX) shares surged on Monday following its upbeat quarterly earnings.
Seagate's focus is on disk drives, but the company's performance has implications for other stocks, according to TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer.
"If drives are doing well, then perhaps PCs are doing well," Cramer noted, referring to the thought process of investors on Monday. "If PCs are doing well, you could make a case that DRAMs are doing well. If DRAMs are doing well, you could make a case that Micron Technology (MU) is doing well. If Micron is doing well than you could make the case that LAM Research (LRCX) is doing well."
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