With all the ruckus around free trade, CNBC's Jim Cramer didn't want investors to miss what he called "one of the greatest stories of the era:" the comeback of the personal computer.

"It's a tough narrative to swallow," the "Mad Money" host admitted on Monday. "I myself didn't believe in it until HP Inc. reported yet another fabulous quarter, at which point the PC's resurgence simply became undeniable."

HP Inc., once the hardware business of the now-split Hewlett-Packard, handily beat analysts' revenue and profit estimates with its quarterly results.

Cramer was shocked by the company's double-digit growth in "notebooks," or laptops, desktops and workstations — up 14 percent, 17 percent and 11 percent year over year, respectively.

HP Inc. has now logged five quarters in a row of double-digit revenue growth, meaning that the most recent quarter's double-digit growth happened on top of last year's double-digit growth.

"For years, the only growth in the industry had come from cellphones," Cramer noted. "Now the numbers are reversed: the PC's roaring while phones have been slowing down."

This effect isn't just important for computer manufacturers like HP Inc. It also trickles down to computer parts suppliers, specifically chipmakers like Micron, the "Mad Money" host said.

In fact, Cramer argued that Micron, which makes DRAM and flash memory chips, is the top beneficiary of the PC comeback. Shares of Micron hit a 52-week high on Monday.

Market-watchers have been concerned for months that pricing for Micron's chips — which are subject to a boom-bust cycle — was on the cusp of breaking down, which would make earnings estimates too high. But HP Inc.'s quarter showed that pricing would remain strong for 2018.

"That means Micron will likely meet or even exceed the numbers, and if that's the case, its stock is way too cheap," Cramer said. "It is a buy on this breakout."

Stocks like Nvidia, which makes semiconductor chips for a host of industries including PCs, gaming and the data center, and Intel also stand to benefit from the PC comeback, Cramer said.

Even shares of companies like Applied Materials and Lam Research, which produce the equipment used to make processing chips, could recover as a result, Cramer said.

"I see tremendous pin action off of Micron. The themes are too great to ignore," he concluded. "The PC suppliers are back and most of them are way too cheap. Even though their stocks have run, I bet they'll end up looking like bargains down the road when these companies start beating their estimates left and right as their underlying business is finally booming again."