Caching a widget

Hello, I’ve never really done any work with caching so I wasn’t sure if this was possible:

I have several widgets on my home page, and one of them is rarely updated, but still requires a bit of processing to output its contents. Let’s say the content is only updated once a week - what is the best way to serve this widget up instantly to users? Is there a way to cache that content locally and send it to the users without having to deal with caching for the other widgets on the page? Thanks.

Take a look at this: