• CNBC's Jim Cramer guided investors through this week's most important Wall Street action, highlighting earnings reports from Micron, Walgreens and General Mills.
• He also noted that Monday was tough for Big Tech, but expressed continued faith in the success of the mega caps in the sector.

CNBC's Jim Cramer guided investors through this week's most important Wall Street action, highlighting earnings reports from Micron, Walgreens and General Mills. Cramer said Monday was tough for Big Tech, but he expressed continued faith in the success of the mega caps in the sector.

"The reason why we pay so much for the mega caps is that their growth isn't slowing, and everyone else's might be if the Fed doesn't see a cut or two in the future," he said. "It's just a lot easier to buy a stock that has a chance to outrun the economy than one that'll be brought down by the economy."

On Tuesday, Cramer will be following reports from Carnival and FedEx. Cramer wondered if the cruise line's stock can catch up to that of its peer, Royal Caribbean, saying some investors believe this could be the last good quarter for bookings. Cramer said it's likely FedEx will put up decent figures, perhaps helped by aggressive cost cuts. Chipotle will also split its stock for the first time on Tuesday, and he recommended that investors own and not trade the burrito maker.

Wednesday brings a slew of earnings reports, including Micron, General Mills, Levi Strauss, AeroVironment and Jefferies Financial. Cramer noted some segments that drive General Mills' business — including snacks, cereal and dough — could be vulnerable because of the rising popularity of weight loss drugs. However, he said its pet food business is performing well. He called Micron one of the "quiet bellwethers" of some of the non-AI semiconductor plays and said the stock could climb further even though it often pulls back after earnings.

Cramer said Levi Strauss could keep going higher, noting that it's already up more than 40% year to date. He said he expects Jefferies Financial will report a positive quarter, but added that he's concerned about the results of the Federal Reserve's "stress tests," or checks on the health of big banks. AeroVironment's report could determine whether the government is buying more drones, he added.

Walgreens will report on Thursday, and Cramer said Wall Street doesn't have great expectations for the company. But he suggested that CEO Tim Wentworth "has something up his sleeve that can stem the bleeding." McCormick also reports that day, and Cramer said analysts are taking down price targets due to sluggish growth.

On Friday, Cramer will be paying attention to the personal consumption expenditure deflator report, a key inflation metric that could influence the Fed's next move.

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