Transcript:

CAROLINE WOODSMad Money’s Jim Cramer is back at the desk. He’s co-founder of TheStreet and author of How to Make Money in Any Market. Jim, great to have you back.

JIM CRAMEROh, gosh. Look, I, I do miss the street. I think you do a fabulous job.

CAROLINE WOODSWell, we love when you join us. And today we’re putting your playbook to the test in this market. Sure. But before we talk about making money in this market, I want to get a vibe check from you in terms of how you’re thinking about the market. Because we have stocks near all time highs, yet there is tension in the Middle East that seems to escalate, right.

On a daily basis we have oil above 90. We have a fed chair that could be uncertain. It doesn’t really seem like the backdrop for that supportive of stocks.

JIM CRAMERIt does help us make sense. Let me tell you I look at it, I’m a creature of the bond market. I learned this during my first week at Goldman Sachs, when I was kicked out of the office. When I was asked about what I was thinking about the market. And I just literally it was, you get out of here.

And the reason why was that I didn’t start by saying, you know what? The bond market is stable. The bond market is tame, a much bigger bond market. Just give me a set of clues. This bond market has done nothing, even with oil, when it spiked to 100. It just doesn’t a 105. The bond market gives you the license to buy what you want.

And that’s what I’m doing.

CAROLINE WOODSMarket actually signaling.

JIM CRAMERNot signaling low inflation. It’s signaling that we’re going to have a fed that’s going to ease its it’s signaling that whatever you see that is up in price, too much is going to come down. And therefore stocks are a great buy yet.

CAROLINE WOODSStocks are at all time highs right now for someone that’s listening. And they’re sitting in cash right now because maybe they missed out. Is it time to buy the breakout or is it time to be patient?

JIM CRAMERWell, first of all, I’m sorry that they didn’t catch it because we’ve been pretty constructive. But I would say that you have to buy the little dips that you get or the little dips that you, of the stocks that you might want because there’s been rotations where stocks have gotten hit, of which there are some very good stocks.

CAROLINE WOODSWhat’s an example like.

JIM CRAMERFar more right now Jay and Jay’s fantastic Cardinal health is down this. If it’s a bad company that’s ridiculous. Merck has retreated all the way. I even think, frankly, I know it’s probably some people feel sleepy, but Eli Lilly will work here. Because I think the pill form numbers are going to be very good. But Johnson Johnson, my favorite.

CAROLINE WOODSIf you’re already invested, is it time to trim or is there still a lot of room.

JIM CRAMERYou might want to trim and then get into something else? Because I think that again, part of the rotation is just gifts. They just give you these gifts and you got to take them. You can’t just say, I don’t like the market. You have to do it case by case because there’s so much opportunity.

CAROLINE WOODSSo give me an example of an area in this market that would be good to trim right now, given the run up that we’ve seen in another area outside of pharma that.

JIM CRAMERI want to show the oils, except for Chevron, because Chevron has got a good yield, but those have had if you’ve noticed, they don’t go up that much anymore. When, oil goes up, they’re like, it’s their last breath. So I think that you can rotate out of those and rotate out of the refiners, I don’t think.

And these are where people have made a lot of money, but I think it’s time to move on. I don’t really like gold at all. Now, gold is can be a fundamental part of your portfolio, but I don’t like it for trade. Even any co-equal Newmont. I just think that gold is way overplayed. So is silver.

So is uranium, for that matter. Except for some. Some. And I don’t think that people should be, buying rockets. Space is coming. That’s all you need. I also don’t think that people should be going nuts for interest rate plays until we get closer to being improved.

CAROLINE WOODSOkay, so outside of pharma, where should that money that you’re trimming be put to work?

JIM CRAMEROkay, I still believe in the data center. Partially. Okay. And I can break down everything in the data center. I really, really like,

CAROLINE WOODSBreak it down.

JIM CRAMEROkay. We want all your first. I want, I want memory. So I when she went west you digital I once had this guy one micron at these levels. Absolutely. Okay. But you buy small and then you wait. Okay. I mean, for instance, today, you and you, you’ll have some of these rotate down. I mean, less than digital down.

And you might want to buy a little. Don’t buy all at once. I mean micron when they reported the stock got hit last time maybe it maybe gets hit again. It wouldn’t shock me. I really, you know, I like semis very much. I still think Nvidia can be bought. Believe it or not, AMD can be bought, but not big.

Marvell can be bought, but not big. I like networking, which means I like CCNa. I like, Arista Networks. I like fiber, which means I like momentum. And I really love Corning. I think Corning is terrific. And to the point where I think that I could go to $200. So we have a lot of companies like the coherent is really, really great.

These are all laser within the data center, and you got to go to the data. You can even do a core weave, which is a data center build or look. Verdict. Verdict is down on, on its quarter. But it was really a beautiful quarter. So, the data is the reason why I’m in favor of the data center.

I know everyone think I’m late, but. And I’ve liked it more long, to be fair to me, but, we’re in the fourth industrial revolution and the fourth industrial revolution. We’re still at the stage where even trying to convince people it’s happening, all those stocks are integral to the industrial revolution. They’re part of what Jensen Wong, the CEO of Nvidia, would say is the power layer and the network layer.

And, you know, if you want power layer, there’s no, no better Stockton G Rover which just reported amazing quarter but is so not done. I mean, it is just the only game in town when it comes to providing power to the data.

CAROLINE WOODSSo are there any that are actually a good value right now though?

JIM CRAMERAre you like down like.

CAROLINE WOODSYeah, like cheap enough to actually buy because it’s hard from Holdings.

JIM CRAMERARM Holdings because ARM Holdings has introduced a CPU. The CPU is the basic building block. That’s what senior PC people don’t realize. Is this new at Genting, part of the fourth, fourth industrial revolution, where you have agents doing things that are programed, by by artificial intelligence, they need CPUs. So you’ve had, great. There’s only three CPU companies, there’s AMD, there’s Intel, which is also still a buy, but then there’s ARM Holdings.

Arm just got into the business and it does seem reflective. They’ve gotten into it. So ARM represents real bad okay.

CAROLINE WOODSYou know you mentioned Nvidia but you’ve been calling for the breakup of the mag seven. Which of the mag seven still deserve the magnificent title and which are crowded?

JIM CRAMEROkay. Well, a lot of them have come back to life. More I.

CAROLINE WOODSJust recently.

JIM CRAMERDoesn’t own Tesla just because a lot of the good stuff at Tesla is buried within an auto company, and I don’t think the auto business is that good. From from best to worst. Okay. Nvidia stuck at 200. It hasn’t gone up. And yet all that real excitement is when these companies buy and veneer chips, and they all have the video chips.

Come on. I’m now I’m looking at a situation where you’re kind of like, you can buy Google’s chips. Not nearly as powerful. Will be benchmark. You can buy Amazon chips, but they’re nowhere near as good as Nvidia, which have much greater power, can do much more. So that would be number one. Then. Number two is still alphabet Google, which is doing very well, but it’s not.

I remember you’re buying YouTube, you’re buying, Google Cloud Services, which is just talking about great is your voice. And you know you’re you’re buying search which is absolutely terrific. You’re buying Waymo, which is great. These are all fantastic properties and they’re all within one, you know, all over the.

CAROLINE WOODSOne. All right. So for the sake of time Nvidia I like number three and Amazon.

JIM CRAMERAnd the Amazon is just now getting credit for Amazon web web services getting hotter. Look I would have put Apple up top. But you know I gotta get to know this new guy. And I don’t know I know Tim Cook really well, but I don’t know. This meta is like he’s just now got a new form factor Mark, but it’s not as good. It’s very inexpensive.

CAROLINE WOODSSo what comes in at number four order Apple.

JIM CRAMEROh app. Apple. And then meta. And then you know you’ve got

CAROLINE WOODSWell Microsoft and Tesla.

JIM CRAMERThose are tough okay. So let’s talk Microsoft. Microsoft may actually represent value. And that’s because they have so much cash. And they have copilot which is not that good. But they could go make an acquisition or an acquisition or two. I mean, I just saw one of this the that it’s not a up space go, but go buy a product called cursor, which all the young people right there, that’s how they write their programs on.

And I think that’s a great deal. Even with 60 billion, that’s just a great idea. And so they’re willing to take bold action. I will like anthropic because it’s business, you know, it’s an entrepreneur enterprise. And I might like OpenAI where it comes public. So OpenAI space is rapidly very exciting.

CAROLINE WOODSIt’s just quickly, what’s a software name that you would buy right here that you don’t think will be as disrupted as some of some of the others.

JIM CRAMERThat won’t be disrupting caterpillar won’t be disrupted. New core won’t be a software name. Oh I’m sorry.

CAROLINE WOODSSo sorry. But I was like, are we really sure.

JIM CRAMERThey’re all there all the time?

CAROLINE WOODSSo there’s not there’s not a clear buy here given the pull that they’re all saying. Okay,

JIM CRAMERServiceNow is vulnerable. They’re in poor Salesforce. Great company report. Microsoft is a hybrid company, but the part that can be, duplicated is problematic. Adobe no. Go be. No.

CAROLINE WOODSWe spent a lot of time talking about tech, but we’ve also seen this rotation into other names. We have names like Costco and Walmart that are actually pretty close to us as well. How should investors be thinking about rotation?

JIM CRAMERInflation plays? I mean, the consumer is not that strong. Should you buy TJX? You buy Costco, you buy five below, you buy Dollar General, and you buy Walmart, and you can buy any one of those or any combination of those. You can pick two of them, weep for the Chapel Trust and pick TJX, which been a monster winner.

We’ve on Costco. I don’t even know you know.

CAROLINE WOODSWhere you get your gold bars. So we’re before we get to our rapid fire round of this or that, which I know you’ve played with us before. We do have a few audience questions that I want to get to, and for the sake of time, we’ll have to keep these pretty rapid fire as well. Bruce says any sectors you’d avoid right here?

JIM CRAMERYeah, I out of gold and I would avoid oil.

CAROLINE WOODSOkay, Julian, I demand is there. But how on earth is it going to be monetized fast enough?

JIM CRAMEROkay, that’s a really great question. And I think that you have to wait till 2027, 2028 when you see a really good return for everything that they put in everything.

CAROLINE WOODSTim. Our factor ETFs are good. Set it and forget it strategy.

JIM CRAMERNo Tim. Don’t do ETFs. Pick stocks. Give me a break.

CAROLINE WOODSBecause of fees.

JIM CRAMERYeah yeah well I just think go in the S&P 500 period underscore okay.

CAROLINE WOODSRebecca says where are the best buying opportunities. You’ve given a lot. But one name that you haven’t given yet okay.

JIM CRAMERRebecca. Corning. The fundament of the data centers no longer be copper. It’s going to be fiber. And the only maker of fiber that’s good enough is Corning. Imagine that. You having one.

CAROLINE WOODSAll right. Erin says best and safest health care stocks that have potential psychedelic breakthroughs.

JIM CRAMEROkay, I had a okay. Second thought. I have one on the other day. I these are too speculative for me. Johnson Johnson has unbelievable has the thing called bravado which kind of has that and is, very, very.

CAROLINE WOODSBut, you know, that’s not too speculative for you. What’s.

JIM CRAMERNo, that’s Triple-A balance sheet. Really inexpensive stock. Okay. I think everyone should buy JNJ in its core position.

CAROLINE WOODSOkay. And of course, because there will always be people who comment in verse Cramer. Oh you have to ask you I mean I do think it.

JIM CRAMERIs they but I guess they shorted. Did they short Nvidia $2. They short Apple.

CAROLINE WOODSIt’s my understanding the inverse Cramer ETF actually shut down because it couldn’t keep up with your winners.

JIM CRAMERI mean my wife asked that Inverse Cramer and I said I don’t read anything about me. I haven’t in five years now. And my life has been much better.

CAROLINE WOODSBut aside from Nvidia, what’s one recent call that proves the crowd is wrong? Background.

JIM CRAMEROkay, my, Cardinal health. I’m quite surprised how bad it’s been. It’s not devastating anything Cardinal health in Nike or my two bad ones. I don’t think, I’m not sure Nike can come back as fast as I’d like. And Cardinal Health is just a buy. I refuse to believe I’m wrong. I just refuse that.

But I am wrong so far. Okay. All right. Wrong.

CAROLINE WOODSTime for our rapid fire game of the year that do that. Quick questions, quick answers. You know, you know a thing or two about lightning rounds. You ready? That’s all right. This rally broadening out or running on fumes.

JIM CRAMERRunning on fumes.

CAROLINE WOODSBy the break out or wait.

JIM CRAMERWait.

CAROLINE WOODSStock pickers market or just by the index? Stock pickers take profits or let your winners run.

JIM CRAMERLottery winners run.

CAROLINE WOODSSmall, mid or large caps.

JIM CRAMEROnly large.

CAROLINE WOODSS&P cap weighted or equal weight.

JIM CRAMERCap mag seven.

CAROLINE WOODSStill leadership or crowded tracksuit. Leadership mag seven or the rest of the market.

JIM CRAMERMakes seven.

CAROLINE WOODSEye chips or eye power.

JIM CRAMERHey chips.

CAROLINE WOODSNvidia buy or trim here.

JIM CRAMEROut of your mind. Don’t Nvidia’s own don’t trade.

CAROLINE WOODSMore upside Walmart or Target.

JIM CRAMEROoh very tough because target’s really running here. But still when you Walmart.

CAROLINE WOODSBetter buy after earnings RTX or G Ivanova.

JIM CRAMEROh my god G from Nova because it doesn’t have any near-term war risk.

CAROLINE WOODSG for Nova or Boeing.

JIM CRAMERLoved Boeing.

CAROLINE WOODSBetter airline stock United or.

JIM CRAMERDelta G’s. Delta’s a better run company. Let’s go with Delta.

CAROLINE WOODSOkay, but you probably fly United, right?

JIM CRAMERWell, because I live near new Jersey.

CAROLINE WOODSBetter health care about CVS, UnitedHealth.

JIM CRAMERUnitedHealth I was an amazing quarter.

CAROLINE WOODSIs UnitedHealth still a buy here? Yes or no? 500 luxury bet or Mars or Ferrari.

JIM CRAMERA Ferrari. Amyris had a really bad quarter.

CAROLINE WOODSFerrari recurring.

JIM CRAMERCurry had a really big quarter go for.

CAROLINE WOODSBerkshire without Buffett or Apple without cook.

JIM CRAMEROh my god, oh my god. Apple outlook.

CAROLINE WOODSOne speculative name you like right now. You know.

JIM CRAMERYeah.

CAROLINE WOODSUranium retail investor right now. Underexposed or overconfident?

JIM CRAMERUnderexposed.

CAROLINE WOODSMore promising IPO anthropic or OpenAI.

JIM CRAMERAnthropic.

CAROLINE WOODSAnthropic or space X.

JIM CRAMERSpace X.

CAROLINE WOODSRate cuts. Bullish catalyst or signs. Something’s breaking.

JIM CRAMERSuper bullish.

CAROLINE WOODSOne word to describe how your feeling about the market for the rest of 2026. Sanguine Jim Cramer always a pleasure. We should note for those people who haven’t read your book yet, there’s an opportunity to actually get a signed copy. How do we do that?

JIM CRAMEROkay, you just become a member of a CMC investing club and there’s a nice discount right now if you join, I everybody loves it. So what can I say? It’s it’s been a labor of love for 20 years. And people get a kick out of it, but get a signed book. Right.

CAROLINE WOODSAnd I should say, I actually have my signed copy here.

JIM CRAMERYou’re terrific.

CAROLINE WOODSBut I listened to the audio version and you read it to me, so that was great.

JIM CRAMERYeah, I spent I ruined a lot of Saturday.

CAROLINE WOODSSo.

JIM CRAMERI didn’t get to to I didn’t get to harvest my garden and gardeners. My 37th annual garden.

CAROLINE WOODSWell, there’s always this.

JIM CRAMEROh my God, is there ever.

CAROLINE WOODSChance you are fresher?

JIM CRAMERAnd I do miss the street. But that’s a we.

CAROLINE WOODSLove that you come. Come back and say hi every time.

JIM CRAMERI would do.

CAROLINE WOODSAll the time to time. And, thank you for helping us make money in this market.

JIM CRAMERYou’re terrific. Thank you.

CAROLINE WOODSThat’s Jim Cramer. Want more Cramer. My last interview with Jim dives into his investing playbook and the exact strategy he uses to find breakout stocks. Check it out.