CNBC’s “Mad Money” host Jim Cramer, on Tuesday, expressed his bullish views on Lam Research Corporation (NASDAQ: LRCX), KLA Corp (NASDAQ: KLAC), and Applied Materials, Inc (NASDAQ: AMAT), based on technical analysis from Bob Lang.

Cramer said that “semiconductor capital equipment names could give you a lot more upside.” He reiterated that the vaccine rollout timeline does not impact his bullish view.

All three companies reported good last quarter earnings, and Cramer said that Wall Street anticipates these chipmakers to spend heavily on production capacity in 2021. The companies’ exposure to China under the Biden administration also bodes well fundamentally.

Lam Research: At the onset of the COVID-19 outbreak, LRCX stock tanked in the third week of March to hit the 52-week low price of $181.38 but is on a recovery phase since then. The stock has increased a whopping 130% from the fourth week of March to date and gained 18% in October. Earlier in November, Lam Research’s board approved the resolution for a $5 billion share repurchase program along with a quarterly dividend of $1.30 per share. 

LRCX stock has traded in a bullish pattern of higher highs and higher lows on strong volume. Lang expects the stock to pull back by 7% from the current level to $400 before making an up move to $500. Cramer said to “buy the dip.”

Applied Materials Inc: With close to $68 billion in market cap as of Tuesday, AMAT stock price is inching towards its 52-week high of $75.93. The stock nosedived in March to its 52-week low price of $36.64 and recovered since then to post a 96% gain to date, including an 18% up move in October.

AMAT has been trading higher past its August highs on substantial volume, creating a floor of support. Cramer said AMAT could hit $100, as the Chaikin money flow is not in the “overbought” category.

KLAC has gained 16% in October, and the MACD momentum indicator has made a bullish crossover. The Chaikin money flow shows that the stock is far from the “overbought” territory. Cramer agreed with Lang’s analysis of KLAC hitting $260.

Price Action: On Tuesday, LRCX shares closed lower by 1.68% at $431.93; AMAT closed 0.15% lower at $74.37; KLAC shares gained a marginal 0.025% to $241.84.