"If you want to sell these shares, sell them"

CNBC's Jim Cramer on Monday warned investors who hold shares in computer chip makers as the White House continues to crack down on Chinese telecommunications giant Huawei.

"If you own these stocks, please acknowledge the risk," Cramer said in "Squawk on the Street".

The VanEck Vectors Semiconductor ETF – which follows the biggest companies in the sector – has lost 3.3% since President Donald Trump effectively blacklisted Huawei last Wednesday.

Since then, Alphabet has suspended some of its activities with the Chinese technology giant by sending shares of Nvidia, Texas Instruments, Advanced Micro, Intel, Qualcomm, Xilinx and Analog Devices.

The prices were already too high for these tech companies, said Cramer, and the host of "Mad Money" expects them to continue falling.

At the same time, a Bloomberg report stepped up the pressure Monday, noting that other US suppliers, including Qualcomm and Intel, will not sell to Huawei until further notice.

"If you want to sell those shares, sell them," said Cramer. "I thought it was so stupid that people clung to them while everything else was even more negative."

Last week, Cramer said it was clear that Trump did not want US companies to do business with China. "Huawei has the best technology for building 5G wireless infrastructure, but without components of US suppliers, this technology just does not work. They will be beaten."