Cramer said he continues to like EMC for three reasons. First, he likes the company's international exposure and said the positive comments Monday from IBM (IBM) should also bode well for EMC. Second, Cramer expects the company's new flash-based products to do well in the third quarter. Finally, Cramer notes EMC will benefit from its huge stake in VMware (VMV) in February, when it can begin selling the stock.

Wind River, Cramer says, could also be a natural takeover candidate and fetch as much as $15 per share. With the stock down 33% from its recent highs, Cramer sees value in the stock.

He expects ADC could rise as much as 60% as analysts realize the estimates for ADC are too low. Cramer says the company just needs to meet expectations to be rewarded by the market.

Cramer believes the current price represents an excellent risk-reward proposition. The estimates, he says, are so low that Riverbed can easily beat them. The company has a 41% long-term growth rate, and Cramer says he's willing to pay up to 80 times earnings for a growth rate that high. "There aren't a lot of cheap stocks that work in this horrible environment," he said, "but Riverbed's one of them."

Cramer says Microsoft will benefit from the launch of Windows Server 2008 and Windows Vista Service Pack 1 later this year. He recommends getting into the stock before it reports earnings next Thursday, adding that "Microsoft is the best tech stock for this bear market."