How to measure chip (or other component) temperature?

We have a Ryobi Non-Contact Infrared Thermometer
http://www.homedepot.com/buy/electrical/electrical-test-meters/ryobi-non-contact-infrared-thermometer-ir001.html
Put its red laser dot on the middle of a chip, or a resistor, or transistor, get a digital reading back.

No more burned finger tips!