Mad Money w/ Jim Cramer 10/30/25

Summary

Mad Money w/ Jim Cramer – October 30, 2025

Episode Overview

In this lively episode, Jim Cramer guides listeners through a volatile day on Wall Street, dissecting the market’s reaction to Meta's capital spending, critically evaluating Big Tech’s earnings (especially Amazon and Apple), and highlighting the overlooked strength in “real economy” stocks. The episode also features exclusive CEO interviews—including Reddit, Shake Shack, and Logitech—plus Cramer’s signature Lightning Round and a take on Starbucks’ ongoing turnaround prospects.

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Key Discussion Points & Insights

1. Market Reaction to Meta’s Earnings and Tech Rotation

[01:40 - 07:30]

• Cramer analyzes the sharp sell-off in Meta Platforms (formerly Facebook), which dropped over 11% after surprising Wall Street with much higher-than-expected capital expenditures.
• He explains how Meta’s plunge triggered a broad tech sell-off, hurting S&P and Nasdaq more than the Dow due to their tech-heavy compositions.
• Higher Meta spending is seen as reckless by many hedge funds, prompting short-term sector rotation into industrials, financials, and healthcare.
  • Quote: “To many of these big time tech players, not me, but them, Mark Zuckerberg has lost his mind, or at least all his discipline that he had demonstrated so well during that year of efficiency. To them, he's now in the year of living dangerously.” — Jim Cramer [03:09]
• Cramer highlights “guilt by association,” where Meta’s actions indirectly pressure semiconductor leaders like Nvidia’s stock.

2. Earnings Spotlight: Amazon and Apple Save the Day

[07:30 - 13:40]

• Post-market miracles: Amazon and Apple report much stronger-than-expected quarters, reversing negativity in tech sentiment.
  • Amazon: AWS (Amazon Web Services) revenue growth reaccelerates to 20.2%, with strong margins and higher guidance.
    • Quote: “As CEO Andy Jassy put it, ‘AWS is growing at a pace we haven’t seen since 2022, reaccelerating to 20.2%.’” — Jim Cramer (quoting Andy Jassy) [08:59]
  • Apple: Achieves record service revenues (up 50% YoY), better-than-expected iPhone growth, and surprisingly bullish guidance for China.
    • Quote: “Apple posted records of great service revenue at 50% year over year. But you know what? Nobody cares about that. You see that's not the way it works… But tonight they said it's going to be 10 to 12% revenue growth and the iPhone will be up double digits too.” — Jim Cramer [10:32]
• Cramer maintains that tech demand is resilient and expects a “snap back” in tech stocks after this positive news.

3. Rotation to Real Economy Stocks & Surprising Sector Strength

[03:30 - 06:30]

• As tech faltered, cyclicals and defensive stocks outperformed; examples include Home Depot and Eli Lilly.
  • Eli Lilly delivered a massive $1 billion earnings beat thanks to their weight-loss diabetes drugs.
    • Quote: “Eli reported this Morning...made $1 billion more than Wall street expected. That's, that's tech. Like when I first saw it I was thinking okay, the market won't care big yawner…Apparently I was wrong. That's right. Eli Lilly stock rallied nearly 4% today.” — Jim Cramer [05:04]
• Reason: money managers flee tech and park capital in healthcare, financials, and industrials when macro risks spook them.

4. Reddit CEO Interview: Advertising Growth & AI Partnerships

[14:04 - 23:33]

• Guest: Steve Huffman, CEO of Reddit
• Reddit reported a stellar quarter: 68% revenue growth; 74% YoY ad revenue growth.
  • High gross margins (91%) and strong EBITDA (40%) show business efficiency.
    • Quote: “Our aim... is we can be an AI winner without the cost.” — Steve Huffman [16:45]
• Huffman discusses Reddit’s strategy to balance a quality user experience with monetization; ad loads remain low, with growth focused on user engagement.
  • Quote: “The best way to grow inventory on Reddit is to grow usage of Reddit. So we had 190 million Americans visit Reddit every week in the last quarter or on average. And so the reach is there.” — Steve Huffman [19:20]
• Ongoing legal battles over scraping, but strong partnerships with Google and OpenAI to leverage Reddit’s data.
  • Quote: “Our duty is to protect our data for our business and our users. But we also have great relationships in this space with Google, with OpenAI, and we're very excited.” — Steve Huffman [17:39]
• International growth touted as a future catalyst (currently 45% US, 55% international, but peers are 80-90% international).

5. Shake Shack CEO Interview: Operations Turnaround

[25:41 - 33:18]

• Guest: Rob Lynch, CEO of Shake Shack
• Discusses process improvements: focus on operational efficiency, re-trained staff, faster service (70 seconds quicker on average).
  • Quote: “If we’re taking care of our team members, they’re taking care of our guests. We're going to create that virtuous cycle and increase frequency because people are going to come in and have a great experience.” — Rob Lynch [26:05]
• Notable innovation: new, longer-cooked fries for better crispness without longer wait times.
• Strategic pivot to value menu through the app, resulting in 80% increase in app traffic and significant same-store sales uplift.
• Consumer environment tough for Gen Z, but digital focus and value platform are showing strong results.
• Navigating beef inflation with supply diversification.

6. Logitech CEO Interview: Resilience Amidst Tariffs and International Success

[34:38 - 39:42]

• Guest: Hanukkah Faber, CEO of Logitech
• Logitech shows strong growth: 25c EPS beat, higher sales, raised holiday guidance, and ability to offset tariff impact.
• Rebound in “work” categories (driven by office returns and Windows 11 refresh) plus double-digit gaming demand in China.
  • Quote: “Our business was up more than 20% in the quarter in China, and that's not the first quarter that's happened. The market is solid in gaming in China...” — Hanukkah Faber [37:11]
• Focus on product innovation tailored to Chinese consumers (“China for China” model) drives robust Asia growth.

7. Lightning Round: Quickfire Stock Takes

[39:43 - 43:28]

• Noteworthy picks:
  • Sentry Energy (LTU): Not crazy expensive, rates as a buy for now.
  • USA Rare Earth: Avoid due to waning sector momentum and loss-making.
  • Arcos Dorados: Skip; recommends McDonald’s instead.
  • Ollie’s Bargain Outlet: Cramer is a fan, amusing personal anecdotes.

8. Starbucks: The Turnaround Case

[43:54 - 48:07]

• Cramer highlights why he believes Starbucks is on track, drawing parallels to Chipotle’s dramatic turnaround under Brian Niccol (now at Starbucks).
  • Quote: “I think it's all coming together. Few believe...So the turn of Starbucks is being overlooked. I'm betting that won't last for long.” — Jim Cramer [46:43]
• Emphasizes the importance of operational process and throughput; recent numbers suggest the company is “finally ahead of plan.”

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Notable Quotes & Memorable Moments

• On Meta’s shock spending:
  “To many of these big time tech players, not me, but them, Mark Zuckerberg has lost his mind…” — Jim Cramer [03:09]

• On Amazon’s AWS turnaround:
  “‘AWS is growing at a pace we haven’t seen since 2022, reaccelerating to 20.2%.’” — Andy Jassy (quoted by Cramer) [08:59]

• On Apple’s future guidance:
  “Tonight they said it's going to be 10 to 12% revenue growth and the iPhone will be up double digits too.” — Jim Cramer [10:32]

• Reddit’s margin brag:
  “91% gross margins, which I regard as extraordinary. Most impressive 40% adjusted EBITDA margins.” — Jim Cramer [16:30]

• Shake Shack’s operational mantra:
  “If we’re taking care of our team members, they’re taking care of our guests...” — Rob Lynch [26:05]

• Logitech’s China performance:
  “Our business was up more than 20% in the quarter in China… The market is solid in gaming in China...” — Hanukkah Faber [37:11]

• Starbucks leadership:
  “The turn of Starbucks is being overlooked. I'm betting that won't last for long… It's time to buy the stock of Starbucks.” — Jim Cramer [46:43]

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Timestamps for Key Segments

• [01:40] Cramer on Meta’s spending & tech sell-off
• [07:30] Amazon & Apple earnings breakdown
• [14:04] Reddit CEO Steve Huffman interview
• [25:41] Shake Shack CEO Rob Lynch interview
• [34:38] Logitech CEO Hanukkah Faber interview
• [39:43] Lightning Round
• [43:54] Starbucks turnaround commentary

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Takeaways for Investors

• Big Tech remains volatile, but strong earnings from Amazon and Apple point to a resilient sector.
• Meta’s outsized capex had knock-on effects—not just for Meta but for supplier stocks and broader tech sentiment.
• “Real economy” names (industrials, healthcare, retail) demonstrate unexpected strength during tech rotations.
• Reddit demonstrates high growth, strong profitability, and upside in AI/data partnerships—not just a meme stock.
• Shake Shack’s operational revamp and digital focus produce tangible sales rebound, even in a tough environment.
• Logitech shows that targeted international innovation and supply chain flexibility pay off—even in turbulent markets.
• Cramer remains bullish on selected tech, retail, and consumer names, calling out Starbucks as a turnaround to watch.

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For those who missed the episode:
This installment captures a day of sharp sector rotation on Wall Street, delivers in-depth CEO interviews from pivotal growth companies, and arms listeners with actionable insight—contagiously delivered in Cramer’s irrepressible tone.

Transcript

[Jim Cramer]

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[Jim Cramer]

Hey, I'm Kramer. Welcome to Mad Money. Welcome to Cramerica. Out to make friends. I'm just trying to make you some money. My job is not just to teach and entertain, but to do some education. Call me 1-800-743- CNBC. Tweet me imKramer. We keep wondering what would it take to make people start focusing on all the other stocks in what I call the real economy instead of just the speculative stocks in the AI data center stocks. Well, today we found out you need to see a big tech company screw up and then get slaughtered. I'm talking about right through the meat grinder. I'm talking about just annihilate. I'm talking about Meta. And that's when people start to care about the hundreds of stocks that are part of the real economy. Yet although you might not have noticed from the action today with The Dow dip 110 points, S&P tumbling point 99%. Asda plunged 1.58%. Yet last night better platforms reported what I thought was an amazing set of numbers. Beautiful in every way, Great user growth, incredible profitability, good margins. So far so great. But the company had to take this big charge no one saw coming. Don't worry, non cash still plug Ugly. More important, management committed to a level of capital spending that far outstripped what anyone saw coming to an amount that, I mean frankly seemed imprudent, if not downright reckless. To many of the big hedge fund managers who determine your stock prices, the result met A stock did indeed get eviscerated, plummeting more than 11% today. Which is why the S and P and the Nasdaq got hit so much harder than Dow Jones industrial average as the Dow's got a lot less tech. To many of these big time tech players, not me, but them, Mark Zuckerberg has lost his mind, or at least all his discipline that he had demonstrated so well during that year of efficiency. To them he's now in the year of living dangerously. I know this seems like circular reasoning, but there's another reason the S and P and especially the Dow held up so much better than Nasdaq. Whenever investors start fleeing from tech, something they do very rarely, I know they swap into industrials or the finance or even the health care stocks, including ones that reported bad numbers, their stocks were surprisingly buoyant today. Now some of these moves have a lot to do with people hoping that yesterday's quarter point Fed rate cut would actually do something to help the broader economy as we know is sluggish, including housing, which is how Home Depot still managed to rally. And by the way, that's my go to stock for both the store for home improvement. I always like to have a couple of stocks that I follow very closely to be sure that I am right about the market. Or how about the drug companies? Holy cow, remember them? They used to be big, big and important, weren't they? Eli reported this Morning and their GOP Dash 1 complex, the weight loss diabetes and made $1 billion more than Wall street expected. That's, that's tech. Like when I first saw it I was thinking okay, the market won't care big yawner. We only for the trust. We believe in it but we feel like we're dopes lately. But you know what? I knew that Dave Ricks the CEO was going to be on squawk in the street. I said hey listen, maybe something good will happen here. I, maybe I'm too jaded, right? I just assume nobody will care because it's pharma group that nobody seems to want in this environment. Apparently I was wrong. That's right. Eli Lilly stock rallied nearly 4% today. I think we have met his weakness to thank for that gain. Mark Zuckerberg. Go Dave Ricks, go. Thank Mark Zuckerberg. That's right. Wall street was horrified by what they saw from that is incredibly profit spending in their view, on all the hardware that goes in the data center. So shocked that it made people sour on the entire group for at least 24 hours. By the way, when Meta spends that money, you better believe that a ton of it goes to Nvidia. So talk about guilt by association. If Meta stock is going to get punished for spending money in video, then a lot of money managers will assume it's time to sell Nvidia the $5 trillion monster. I disagree. And do I worry about what the President's going to do with China? Nvidia? Of course, if you're an Nvidia hawk, as I am, you bet I'm worried. But when I see the reaction to Metta and the pin action that ripple through that is far more disconcerting. Is it time to give up tech? You might be asking. No, not at all. It doesn't work like that. Money can fly and flow right back in easily. And I think that that actually is probably what's going to happen tomorrow because of some astounding developments that happened after the close of the market. That's right. We got some miracles tonight. Two of them. We got not just one, but two huge upside surprises in both the future and the quarters. And they I'm talking about Amazon and Apple. Amazon reported a hefty top and bottom line beat crushing expectations. But much more important this Amazon Web Services aws, regarded currently as its most important division and also its Achilles heel, saw its revenue growth accelerate from 17.5% to 20.2% with higher than expected margins too. Remember coming the quarter, I told you that Wall street was focused like a laser on the growth rate for web services. I think that's a little myopic, if not downright stupid, but it's what the shareholder base care about. And Amazon, well, it blew away all expectations. As CEO Andy Jassy put it, quote us is growing at a pace we haven't seen since 2022, reaccelerating to 20.2%. Yeah, we continue to see strong demand in AI and core infrastructure and we've been focused on accelerating capacity, adding more than 3.8 gigawatts in the past 12 months, end quote. So far, so good. On top of that, management gave strong guidance for the current quarter. Hey, maybe Meta spending like a drunken sailor, but Amazon is doing just fine and efficiently, putting up great numbers in the process. It's great to be prudent sometimes. This was some darn quarter and I look, am I doing cartwheels about it? Yeah, kind of. All right, how about Apple? I think they reported a pretty darn good quarter with record revenue for the period of time. Up 8% year over year, slightly above expectations low with 8 cent earnings beat off a $77 basis. Apple posted records of great service revenue at 50% year over year. But you know what? Nobody cares about that. You see that's not the way it works. See that's what's called the past. And the past while people say the stocks up a lot so stock started falling, it was like step by step, inch by inch, you could see the stock slowly fall. And then what happens? They put out the guidance. And the guidance while you had China sales late when, when the quarter came out. You had iPhone sell short when the quarter came out. But when I say that guides I always say you own Apple, don't trade it and certainly don't trade until you hear what they say on a conference call. And oh boy. CEO Tim Cook told an excellent story, calling out strength across all almost all the company's products and services, giving very strong guidance for the current quarter. I mean like I'm talking ramp. And on the call it became clear that the iPhone 17 hey, who told you it was good? Thank you. I like to kiss myself periodically. Has been a smashing success coming into tonight. Wall street was expecting 6% overall growth for Apple in the current quarter. Roughly 6% growth for the iPhone specifically. But tonight they said it's going to be 10 to 12% revenue growth and the iPhone will be up double digits too. At the same time, Cook told me ton that he expects China to return to growth this quarter. As an Apple acolyte, I couldn't believe this. Suddenly the two biggest pain points, the house of become house of pleasure. Because the quarter was just that good and the guidance was much better. Which is why ultimately Apple got a nice pop in after hours trading. I expect more. And by the way, can I just explain to this, it looks like my anger about the right to own Amazon earlier this week and my moldy or admonition to own Apple, don't trade it paid off again. And what's really important for you to know, everyone thought Apple stock looked expensive. But when you saw the future you realize, hey, maybe it wasn't that expensive after all. The bottom line today people focus on the real economy. And again as meta stock got obliterated. But after these two terrific, no, I should say after Apple's good quarter and fabulous guidance and Amazon's Great quarter and great guidance. I wouldn't be surprised if the money comes right back in the tech. Yeah, tech will be back in the saddle tomorrow. But wasn't it great to have a day when the real economy did okay, let's go to Carl in Illinois, please. Carl. Hey, Jim calling from the cab of a John Deere. How are you doing today? I am doing well and I like deer. I think it goes to 600. I like the soybean order from the Chinese too. Obviously. It was very good. I liked it. Soybean order. Take that. Yeah. Okay, I'm curious for your take on Goodyear tire and rubber. No, you know, you guys. No, no, I mean let's stick with Deere now that's just a really hard business. It doesn't seem to matter who runs it. I haven't liked the stock since 1984. I'm not going to deviate. No, I haven't. Come on a roll here. My executive producer just pulled the plug on this segment. Says it's time for a commercial. Do you know how fired up I was? You know how right I was. Okay, I'm sorry. That was bad. I didn't mean to say that I've been very. I've been wrong. Hey, it's a nice night. People turn their attention. I care. People turn their attention to stocks died in the time today but I wouldn't be surprised if tech retakes the reins tomorrow at these four quarters from Apple and Amazon predicted and this. Thank you. Good look bad for years on man money tonight. Once a market darling Reddit has spent the past month in the doghouse. So was tonight's report the catalyst that the stock needs to be get going again. Don't miss my earnings exclusive with the CEO. That is a shack back. I'm digging in a shake shack story with the company's top brass and seems to start nibbling at the stock again. If not the fries and Logitech found itself in the tariff crosshairs. So how's the company doing to pursue what looks like to be an all time high? I'm sitting down with the CEO and getting the latest so stay with Kramer. Don't miss a second of Mad Money. Follow imkramer on X. Have a question. Tweet Kramer Madmentions. Send Jim an email to madmoneynbc.com or give us a call at 1-800-743-cnbc. Miss something? Head to madmoney.cnbc.com on Fox One now you can stream your favorite live sports so you can be there live for the biggest moments. Touchdown and catch. History in the making. Fox 1 We live for live streaming.

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[Jim Cramer]

At these numbers from it the online message board that's become a major force in digital advertising and a stock that I say is one of the 10 best, maybe for the next generation. This stock's been roaring for months, although it got hit hard today it was down nearly 8%. I think was the gravitational pulled matter. Like I talked about the top of the show, even though Reddit has nothing to do with excessive data center spending and tonight at foreclose, this could report just a monster good quarter beats on every single key line, quitting 68% revenue growth. Without that, Reddit's guidance for the current quarter was much higher than expected and it's still such a bargain for for for Advertisers I think this growth story, as I say in the book, is still in its early innings. Don't take it from me. Earlier today I got a chance to speak with Steve Huffman, aka Spez, the co founder, president and CEO of Reddit. So take a look. Mr. Huffman, welcome back to Mad Money.

[Steve Huffman]

Thanks, Jim. Glad to be here. Thanks for having me.

[Jim Cramer]

Steve, I got to tell you, these are indeed blowout numbers. And your advertising revenue is clearly on fire. You are one of the most visited sites in the US you're able to monetize it in a way that I didn't think was possible when we first met a couple of years ago.

[Steve Huffman]

Look, I think, yeah, look, another strong quarter for Reddit. We're really happy with the execution across the board and the ads revenue growth, 74% year over year, we're very happy with. Look, I think the allure of a tech company is that you can be a high margin, profitable, efficient business. And we've really tried to demonstrate that, you know, early here in our journey.

[Jim Cramer]

Well, one thing that's absolutely certain is that you are bargain customers who advertise with you because you're so heavily targeted, find that almost everybody, that you place the ad with reason. Now that's an extraordinary thing. And yet you don't charge as much as I thought that you might as someone who has sampled you as an advertiser.

[Steve Huffman]

Well, look, it's a journey, Jim. Look, our goal is to provide for our customers, you know, across the full funnel and in any climate. And so, you know, from what we can see, the ads market is stable. We do hear from our customers that, you know, there's some uncertainty about macros and maybe tariffs, but as we always do, we do our very best to, to show up for our customers and deliver them results.

[Jim Cramer]

Well, it's, it certainly doesn't hurt. You have 91% gross margins, which I regard as extraordinary. Most impressive 40% adjusted EBITDA margins. These are much higher than every publisher, publisher I deal with.

[Steve Huffman]

Look, that, that's, that's the aim of Reddit. High margin, high efficiency, very low capex. I love the position we're in. I love our roadmap looking forward and you know, our aim and what we've learned so far is, is we can be an AI winner without the cost.

[Jim Cramer]

Right now, one thing though, I am concerned about, I think that you have purity and I love purity. But when we had Matthew Prince on, he said not that long ago from Cloudflare, that your site has actually been, let's Say, liberated by some companies that I think should know better. I'm thinking about anthropic and perplexity. I know you've been involved in some legal tangles, not asking you to get into that, but there is truth to people who are saying, I believe you think that there are people who just plagiarize you and taking advantage of you, and it's not right.

[Steve Huffman]

Well, look, we see both sides of this. Of course, I can't add anything to the legal conversation right now, but our complaints are out there, and I think they're actually a good read. And our duty is to protect our data for our business and our users. But we also have great relationships in this space with Google, with OpenAI, and we're very excited. Over the last couple of years, I think we've mutually learned how valuable Reddit's data is and the ways that we can collaborate to make our mutual products better for our mutual customers. I'm really looking forward to, you know, progressing these relationships over time.

[Jim Cramer]

My hope is, is that I know, for instance, Wall Street Journal and Open, I have a good relationship that, that you can have more lucrative deals. I want your ad model. I think it's fantastic. But I still think that there are people you can make deals with who would, who absolutely love to show that they're using your content. So the other guy should use it legally, of course.

[Steve Huffman]

Like, I think there's. There's so many uses for Reddit.

[Jim Cramer]

Right?

[Steve Huffman]

Our primary product is community and conversations, but part of our mission is to make the knowledge on Reddit that comes from other humans accessible by everybody. And so, like, we love to be, I think, a player in this space to see how we can, you know, kind of help everybody advance the state of the art and build these great consumer experiences.

[Jim Cramer]

Now, one of the things that I thought was quite surprising is I know many people who, I'm a big user who were afraid that you would jam it up with ads, that you would junk it up. You yourself wanted to be sure you had the right amount. I don't hear any complaints at all. I mean, I don't know, how did you strike that balance?

[Steve Huffman]

So ad load is one way of growing inventory, but for us, it's like strategy number 10. The best way to grow inventory on Reddit is to grow usage of Reddit. So we had 190 million Americans visit Reddit every week in the last quarter or on average. And so the reach is there. And so our work is, can we increase the frequency? And we do that by just making the Product better.

[Jim Cramer]

Right.

[Steve Huffman]

When you visit Reddit, we want to make sure in the first 30 seconds that you see something that's really amazing and relevant to you, that causes you to come back. That's the best way of growing inventory and in harmony with the consumer usage of the product.

[Jim Cramer]

Do you think you're still relatively unknown? When my wife's company approached you for Mezcal, we were shocked that we were not overwhelmed by other mescal advertisers. I think they just felt, well, maybe this is not the right qualified audience. Now, we're, we're sure that others are going to find it, but the fact is, is that there are just many buyers of ads who just still don't know that you're the number three.

[Steve Huffman]

I think this is the exciting thing about Reddit, both on the ad side and the consumer side, which is we're actually still early in our journey and so we see so much opportunity to grow our user base, to grow our customer base, to deliver better and better results. So I love where we're at and how we've got here, but I love even more our outlook for the future.

[Jim Cramer]

Now, there's been a big move, obviously, in the stock of Robinhood, and a lot of those people get their ideas from Wall Street Bets. What's the growth and the qualification of Wall street bets? Can that also extend to these companies that are making bets on events that occur.

[Steve Huffman]

Like Wall street bets? Is it. It's a community near and dear to my heart. I love that community and I've loved to see the evolution of it. And it's one of many investing communities on Reddit. But I think they've done a particularly good job, I think, at highlighting the fun and uniqueness of Reddit. And they've actually been experimenting with our developer platform as well. And so I think there's a lot of momentum across the board. But with that community in particular, I'm.

[Jim Cramer]

Seeing great, I'd say allegiance to the health care. Health care portions for people who have been sick, who have come together, talked to each other, and the advertisers are finally getting wind, the drug companies are finally getting wind that Reddit is the place where they have true, true community.

[Steve Huffman]

Well, so that's the thing about Reddit. There's really something there for everybody. And look, you can go there to talk about stocks, as we discussed, but every moment in your life's journey, whether you're getting a job, the ups and downs of relationships or medical challenges, we call those support communities, you can go through your life's journey on Reddit because really it's about connecting humans with other people who are going through the same thing. And so sometimes this can be fun and silly, but other times, you know, profound and really meaningful for people. And I think that's why this product is so interesting and that's why it's, it's so fulfilling to work on.

[Jim Cramer]

One last question. I like the fact that if a site is somewhat, let's say genteel, not saying gentle, but genteel. International. It does well like Pinterest. Our friends at Pinterest are doing terrific job. International. I still think you have a lot of land, a lot of real estate International that you can get for Reddit. Do you feel the same way?

[Steve Huffman]

Oh, absolutely. So today our Traffic is about 45% US, 55% outside the US you know, for most of the people in our space, that international number is 80 to 90%. And so, you know, that's, that's where we look to go. So a lot of our growth over the next decade should actually come outside the United States.

[Jim Cramer]

Well, that's terrific. You know, I'm a huge believer. Use user and use believer and talk about you and how to make money in any market is maybe one of the 10 best that has come through in the last five years at Steve Huffman. He's co founder and CEO of Reddit. Steve, so, so that you came on the show.

[Steve Huffman]

Very kind, Jim. Really appreciate your support and thanks for having me out.

[Jim Cramer]

Of course. That money's back after break. Coming up, is Shaq back? Shake Shack just served up results and Kramer is sitting down with the CEO to see if it's time to take a bite. Next streaming is changing the way we watch live sports. And your Internet connection can be the difference between catching the game winning touchdown.

[Rob Lynch]

As it happens or hearing about it.

[Jim Cramer]

From your neighbor's cheers. That's why Comcast is building the network of the future. Using cutting edge AI and edge computing technology, we're bringing fans closer to the.

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[Jim Cramer]

It's not just fast, it's game changing. Learn [e-mail] sports the heaviest metal credit card of all time, rumored to be one of only 18 in existence, plated with the very same tungsten that forged the international space station and wielded at business dinners like a samurai sword. It's a classic corporate power move. But the real power move having end to end visibility on your most critical shipments. FedEx. The new power move is the Shack back over the Past few months we've seen some big pullbacks in the restaurant space including high quality operators like Shake Shack, which you know I love. When these guys reported at the end of July results were a little less than perfect. The Stock plunged from 100%. 40 and change just under 90 as of last night's close. But this morning Shake Shack reported a solid quarter with better than expected same shock sales, a solid revenue beat and a 5 cent earnings beat off a 31 cent basis. That's huge. While the guidance for the current quarter was necessary perfect, it was good enough to let the stock rally almost 2% today in a restaurant chain group. That is just awful. And now I'm wondering if it might be time for Shake Shack to make up some of those losses for in the past three months. We got a great chance to find out because we're going to talk to Rob lynch, he's the CEO of Shake Shack, to learn more. Mr. Lynch, welcome back to Bear buddy.

[Rob Lynch]

Thanks for having me, Jim.

[Jim Cramer]

Rob, when you're on last, you told us look there are going to be some changes. It's going to, the place is going to have better, some better procedures, better supply chain. I don't know how you did it, but it looks like it all came together. Can you describe what it's like to go from a low same store sales to much higher? Because this is a very big deal that you've engaged years.

[Rob Lynch]

Yeah. I mean it all starts with operations as a foundation for everything that you do in a restaurant company.

[Jim Cramer]

Right.

[Rob Lynch]

If we're taking care of our team members, they're taking care of our guests. We're going to create that virtuous cycle and increase frequency because people are going to come in and have a great experience. It also gives us confidence to go out and invest in driving traffic because we know when these folks show up at our restaurants, they're going to have a great experience and we're going to derive lifetime value versus just that one transaction.

[Jim Cramer]

So.

[Rob Lynch]

So we've spent a, you know, a year and a half deliver working on.

[Jim Cramer]

Trans, but it's not a quick turn. Yeah, that's a very good point now.

[Rob Lynch]

And, and you know, our team is, is unbelievable. We brought in some new people, have brought in some external perspective, but also the people that have been around Shake Shack for a long time are completely bought in on the model moving forward. So every KPI is moving in the right direction where we're much more efficient and productive. So that's translating straight into margin. So it's been a great transformation and then, you know, the investments we're making in the food innovation and the media dollars are driving people into, to our shacks and they're having a great experience.

[Jim Cramer]

I'll tell you, I go to a number of shake shacks. Whenever I can, I go and I said to myself, you know, it seems that it might be faster. And then on the call, you actually are shaving a minute off. Now, pumping was him. What's a minute? It really is important, correct?

[Rob Lynch]

Yeah. You know, when I started my career, I started at a fast food company that's probably close to the fastest in the industry. And we always said if we could save one second, it was worth $1 million to the system.

[Jim Cramer]

Right.

[Rob Lynch]

So we've now reduced our speed of service on average by 70 seconds in a year and a half. So we've got more to go. We've got more to go. You know, we have instituted a lot of new processes and a lot of new labor management tools, but we've got great equipment coming, you know, assets that are going to make our, make it easier to operate our restaurants, make it easier for our team members to execute with excellence. And, you know, we're going to keep getting better. But I'll tell you, it's not just about speed, it's about accuracy too. And we are really focused on, on accuracy, making sure that the orders that, that come in, especially in a digital age, and a lot of the delivery and takeout, if you don't get that order right, they're not sitting in your dining room with the ability to come up and say, hey, you put cheese on this. And I didn't want cheese. So that really frustrates guests. So we're really focused on trying to make sure that we're the best in accuracy as well.

[Jim Cramer]

And not only that, but obviously when it's, when it comes faster, it is hot. And we like it hot for sure.

[Rob Lynch]

Especially fries. And you know, our fries, we believe we have the best fries. But you know, I was, I was at a shack, we opened up our battery shack in Atlanta back in June and I was.

[Jim Cramer]

Oh, that was the one you were all excited about?

[Rob Lynch]

Yeah, full bar, first company operated bar. And I was eating the fries and like, you know, these just aren't crispy enough and they're kind of a little light. So we went back and we looked at everything and I said, what if we cook them a little bit longer? So we are now instituting a new process on our fries, on our bread and butter of our business, our fries. We're cooking them a little bit longer and it's not going to add any time to our, to our delivery for our guests. And our fries are going to be the best they've ever been.

[Jim Cramer]

Oh, I bet they will be. I love them anyway, but this is good to know. Now one of the things that distinguishes you as an operator, I followed your career. You don't suffer fools. Guilty. And you're also willing to admit mistakes, takes and move on quickly. Limited time offer that wasn't that good. This, this time. And you just said, hey, let's go to value. Correct.

[Rob Lynch]

You know, I mean, look, you have to take into account your internal diagnostics as well as the external environment. Right. This, this French, French onion soup burger. Oh my God, it's unbelievable. People love it. The reviews are amazing. But in this, in this time period over the last month, like there's so much value and you know, we were promoting a full price premium burger. So we've pivoted and we've launched a new value platform in our app only. And our app traffic is up 80%.

[Jim Cramer]

Wow.

[Rob Lynch]

So I mean that's transformational and that's just in the last week. So we're going to continue to monitor it. But that's driving 400 basis points, points of traffic growth across our business just in the last week. So.

[Jim Cramer]

Oh my God. So this is going for you, go forward. This could be very exciting people.

[Rob Lynch]

This could be, you know, this is, could be transformational for our business.

[Jim Cramer]

Now I know comparisons are odious, but there was a call this time from Chipotle, a company you and I both like. And Scott Boatwright, CEO, did talk about how there was this kind of. I want to, I'm going to use a Jimmy Carter was like a malez among people in their 20s. Gen Z. And I question that. I don't think I see that at your shop. You don't have a group of people in any particular generation that you think is not, is weaker or not spending.

[Rob Lynch]

You know, it is a tough environment out there. I mean, I'll, you know, I'll definitely agree with Scott on that. I believe that tough environments are opportunities to make your company better. And I know Scott does too. You know, we're focused on making sure that we get the value equation right, particularly for that younger audience. You know that the 16 to kind of 25 year old demographic, unemployment's up in that group.

[Jim Cramer]

Yes.

[Rob Lynch]

Spending is a little, little tougher. So we need to make sure that we're delivering solutions, you know, delivering options for them to come in and, and Deliver a great value for them. This 1 3, 5 is a perfect example. And you know, they're heavy app users, so we're, we've increased our app downloads 50% this year. You know, we are driving people to that app to deliver the value platform that we're launching. And, and I think that's really going to appeal to that audience.

[Jim Cramer]

Okay, one last question. I know my friends at Texas Roadhouse struggling because beef is so much part of their menu. And they, they have a ten, you know, they have an eleven dollar kind of top and someone has to pay the price. Cattle still been miserable, but your overall basket's not that bad, correct?

[Rob Lynch]

Yeah. So beef we're projecting to beat next year to be up about mid, mid teens. Overall inflation expense a lot. It's a lot. And you know, and it's not something that turns quickly. You know, rebuilding the herds, getting the supply back where it needs to be is a challenge. And you know, we don't buy from the, the, the main beef supply. I mean, our beef is all natural, no hormones, no antibiotics. So it's a smaller segment of the beef industry which is even more restricted.

[Jim Cramer]

Right.

[Rob Lynch]

So we've had to go out and find incremental supply because we're growing so rapidly. And we, you know, in doing that, not only have we found the supply, we've also brought on some new suppliers, same high quality, but it's going to reduce our cost.

[Jim Cramer]

Well, so I'll tell you, make my job easy. So many people come up to me and say, I just had a great burger, Shake Shack, can I buy the stock? And I always had to say, sometimes you can't relate the taste to the price of the stock. Now you can, because of the great throughput procedures and discipline that you have brought to this organization, which it needed. And I think the stock is going all the way back. I want to thank Rob Lynch, CEO of Shake Shack. I am so glad that he's a shack. But now I get to say, yeah, you can buy it if you liked it. It's good. Everybody's back after the break. Coming up, Logitech posted strong results, but can the stock keep scrolling higher? Kramer's plugged in with the CEO. Let's talk about the incredible move in the stock of Logitech International. Walk into any office, pretty good chance you're going to see an ocean of Logitech keyboards, mice, webcams. Here's a stock that's now up more than 46% year to date, including a 2% gain yesterday, another 4% gain today. Now, that's because Logitech reported on Tuesday night a 25 cent earnings beat off a $20 basis. With higher than expected sales and management raising its guidance for the holidays. The company was able to offset the damage from the tariffs in the quarter and they expect they can do it again. Even though a lot of this merchandise does come from Southeast Asians, from China, it's been hit hard. Now, could this one even have more room to run? So that's going on here. That's very positive. Let's check in with Hanukkah Faber. She's the CEO of Logitech International. Find out more. Ms. Faber, welcome back to Money.

[Hanukkah Faber]

Thanks. Hi, Jim. Thanks for having me.

[Jim Cramer]

Well, I think that we all have this view that perhaps the consumer is not doing well. I look at your numbers and I think something's going on. Maybe secular, not cyclical. Maybe it's gaming, maybe it's a PC refresh. You don't see these kinds of numbers if a consumer is not doing well here or worldwide. Is this product derived or is it just a belief that you can spend money on tech even if you don't want to spend money going out to dinner and having a few drinks?

[Hanukkah Faber]

Yeah, we're obviously really pleased with the results of the quarter. It's really our strategic priorities in a market that continues to be robust. So what we see around the world is that certainly on the work side of our business, so we do products for work and for play on the work side of our business. The markets are strong around the world. That's driven partly by return to office mandates by businesses. You know, many companies asking their people to come back to work and therefore redecorating offices, renovating offices, moving offices, that's good for our business. Second also to Windows 1111 refresh, helping the market around the world. So that's all looking really, really great. And then gaming as you know, I mean, you're such a big gaming fan and expert, also continues to look pretty good.

[Jim Cramer]

Well, is something like GTA Grand Theft or the new, new version? Is that already making people think, you know what, I ought to have some. Let's get some new stuff. This thing is going to be amazing. And I would say that because people thought it might have come out earlier, it's not going out the later. But it is a driver of things, isn't it?

[Hanukkah Faber]

Yeah. So our business is not just linked to great games coming out. And GTA 6 now won't come out till next May, but it does help. So actually what we did see around the world, gaming continued to be very strong for us in the quarter, we were up 5% in sales. Demand was up double digit. China was outstanding. The US Was actually a little softer to marketing. Gaming was a little softer. But we're cautiously optimistic that that will change for the holidays. Because to your point, there are some big games that are just coming out this month. Battlefield 6, for example, which is off to a great start. And that kind of game plays to our strengths.

[Jim Cramer]

Let's talk about China. We all hear that China is doing some things very right, obviously, and presidents and talks with them, but we don't hear often that the consumer is spending a lot there. So what kind of equipment are they buying there?

[Hanukkah Faber]

Yeah, so our business was up more than 20% in the quarter in China, and that's not the first quarter that's happened. The market is solid in gaming in China, and that's. There's a little bit of that lipstick effect. The consumer is a little cash strapped. She can't go out to eat or go on a vacation. But what do you do? You spend time gaming. So the market's very robust in China at the moment for gaming. And then I'm very proud of our team. We put in place a China for China team in Shanghai that's multifunctional, coming out with some outstanding innovation because that Chinese gamer is super sophisticated. So came out with a new G316 keyboard for China in the quarter. And our marketing there is just improving every day. We had a huge logiplay event in Shanghai in the quarter with thousands of influencers creating content. And we actually won a prize for best marketing ROI at a big Chinese show last week. So our team in China doing a great job, and Logitech remains by far number one in gaming there.

[Jim Cramer]

Okay, so what's your plan to reignite America?

[Hanukkah Faber]

Yeah, so some of that. We're obviously number one in America, too. And the business is also very strong. But we take some inspiration both ways. In the US Too, we're doing some really cool stuff. For example, we just signed a New deal with McLaren that's global, but the US doing a great job leveraging that with some cool new products. Headsets with McLaren, of course, True Force Gaming. Wheels with McLaren. So, you know, we learn from each other, and that's the beauty of a big global business.

[Jim Cramer]

When did you see that that things would. Would really take off? Because there have been a while where, you know, things were steady, but it just seems like that so many cycles are kicking in, and it's been a long Time since anyone said on our air, and you know what? China was really strong. I mean, this is a. It's a big change from what I'm used to hearing.

[Hanukkah Faber]

Yeah. Again, I think our intervention to have a China for China team is really important. In G, that's the biggest gaming market in the world. You need to be on the ground there and developing for that consumer, and that can then benefit the rest of your global business. That's what we've done. And I'm really proud of the team delivering those results.

[Jim Cramer]

I'm really proud of you and the numbers that you generated. These are fantastic. The stock has broken out definitively, and I don't think it's stopping here. I want to thank Heineken Faber. She's the CEO of Logic Hanukkah. Great to have you on. Wow.

[Hanukkah Faber]

Thanks, Jim. Appreciate it.

[Jim Cramer]

Absolutely. Mad money's packed yet for the break. Coming up, Kramer takes your calls. And the sky's the limit. It's a fast fire lightning round next. It is time. Turn to the light. We'll come to the front. Close to the msu. My step bears the grab a plane of sound. And then the lightning round is over. Are you ready, Ski? Guys, time for the light round. Let's start with Sam in Missouri. Sam. Hi, Jim. Thanks for taking my call. I bought your book two weeks ago. Great book. Learned a lot from it. Oh, thanks a lot. I got a lot in there and some good stuff for tonight, too.

[Rob Lynch]

How can I help?

[Jim Cramer]

Yes. Hey, I bought a stock in the nuclear energy sector back in December 24th. Had a great run. And back on the 16th, it had some negative news in the sector and it really started to drop. So on the second day, I took three quarters of my profits. And I was watching and waiting for it to go down because I thought the fundamentals were good. And I was going to buy back in, okay. And all of a sudden it bounced and now it's going back up. Okay, and which stock is it? And the Sentry Energy ltu look that it's a good company. I mean, look, it did have that nice pullback, which is what I wanted to see because it was just parabolic. I think you're buying it. It's not. I sold my power. It's not crazy expensive. Let's go to Phil in Connecticut.

[Rob Lynch]

Phil.

[Jim Cramer]

Hey, Jim, how you doing? It's Phil. Actually. I'm a Philly guy and I'm a big Eagles fan, so. Go Birds. Go Birds. I like this guy Carter. I think he might be the answer. I like this Guy Roseman. Here's my question. Yeah. Rare earth stocks have been dominating the news cycle, especially now with the deal with China. So is USA are a buy or just an ill fated trade? I'm going to say that you have to stay away for now. I mean, one of the things that you needed was that kind of mojo that came from the shortage. If we work out a long term deal with rare Earth, it's not, it's not going to rebound very well for USA Rare Earth, which is losing a fortune. Let's go to Paul in Texas. Paul? Booyah, Jim. Oh yeah, Paul, my company. I want to know if it's a buy. It's Arcos Dorados Holdings. No, no, I mean you just own McDonald's. That's my key. That's my. I happen to like McDonald's by the way. Not the stock and the burger. Let's go to Bubblegum in Alabama. Bubblegum, a big boom, boom, boom. Booyah to your Jimmy Till. Hey, Bubblegum, how you doing today? I'm doing good, Jim. Good, Jimmy, good. I stepped on the other day. It's still sticking. Go ahead. I'm sorry about that, Jim. Jimmy, chill. I just want you to know you are the king of the hill, my friend. You are a rock star. Oh, thank you. Thank you, chief. Yes, yes, sir. I, I just love the energy you bring to the show, Jim. And thanks for taking my call. I have a great step. They, they are like fuel. Cool. For me. You're like 98 octane. So what stop you got here? Bubblegum. Yes, sir. Jim, what's your opinion on Ollie. Ollie's Bargain Outlet? Ah, man, I'm a member of Ollie's army. Never go to one of the army members and think that he'll doubt Ollie's. I got a nice tarp there with a small hole in it.

[Steve Huffman]

You never know.

[Jim Cramer]

All right. And a book for 98 cents about the end of World War II. But it was waterlogged. Still. Read well. And that, ladies and gentlemen, conclusion of the Lightning Round. The Lightning Round is sponsored by Charles Schwab. Coming up, turnarounds don't come easy. But Starbucks may be brewing something stronger than expected. Kramer explains why next turnarounds are so difficult to pull off that it's very hard for people to stick with them, even though the gains, they can be enormous. Often the company that a new CO takes over has been so abused by previous management that nothing can be done. Even the best of the best, Mary Dillon, wasn't able to turn around Footlocker along neglected retail chain and she's the best in the business. She saved Ulta Beauty, for heaven's sake. In the end, she had to accept the takeover bid that was considerably less than the stock was worth when she took over, although much higher than it was trading at that time. So why bother with these then? Because when they hit, they hit really big. Say to the case of Chipotle, which admittedly needs another turnaround after today's beatdown, but I'm talking about the old Chipotle. This company fell hard times in 2015, stayed down for another three years, losing its mojo thanks to a series of foodborne illnesses outbreaks all over the country. It seemed at its earliest moment, with the stock at a split adjusted price of around $5. In February of 2018, Chipotle brought in Brian Nicol, a rising star from Taco Bell, which he turned into the strongest business of the three legged stool that is Yum brands, installing him as CEO. At the time, I don't know, I was skeptical. Putting someone in who helped push a burrito with 80 ingredients versus one with just eight. I mean, really, was he the right guy? Well, the answer was absolutely, you bet it was. About a year later, the ship was completely righted and the stock rallied all the way to $56. That's right, $5 when he came in to $56. When Starbucks poached him last year because they needed to turn around the rest of their own. Unfortunately, police clearly struggling under the current leadership, but Starbucks now under Brian Nicholl. We're slightly more than a year into his tenure and after some fits and starts this morning on Squawk on the street, he told me that he's finally ahead of plan. Both September and more important, October better than expected. Given that we're still in the final days of October, that's a huge heads up. People pay attention. It's one that foolishly very few did pay attention to because the stock finished down a dollar today. How's Brian doing it? He's doing it the nickel way, taking care of service first. He's got scale, he's got the biggest chain, he's got the biggest drive through the biggest delivery. He just needed to staff all these businesses correctly, needed to get maximum throughput. That was his challenge at Chipotle when he took over to IS so he knows how to do it. Starbucks throughput, he explained to me once, is the name of the game. You get that right, it can all come together. Process, you need process. It's like Shake Shack. And that's what he's seeing right now with his green Apron service plan, time to serve. Down big complaints versus positive comments down big as he put it. Quote it gives us confidence that we really have turned the page to a new chapter. End quote. Now I know to some of you that sounds like boilerplate. Let me do my job for you. I wanted to come out here with something conclusive, conclusively positive about Starbucks. I simply didn't have the confidence to truly stick my neck out. So worried that this would happen it until today. Too many things were wrong, too much destruction. I was concerned about too much fraud. But now with the Chinese business about to get a big partner and with cadence improving at the stores, I think it's all coming together. Few believe the environment's gotten tougher. Many restaurant chains are disappointed. So the turn of Starbucks is being overlooked. I'm betting that won't last for long. I get the reservations. Like I said earlier, turnarounds are hard. Bracken Dow fantastic CEO put Logitech on the map. Yes, the one we heard from today having struggling with turning around VF Corp. Yeah Powell Julie Masinel. She's a stalwart at Yum Brands who delivered stellar results. Is trying so hard to modernize Cracker Barrel without alienating existing customers. Difficult. But Starbucks under Brian Niccol, just like when he was running Chipotle. I think the turn has started. You can't hold out to buy it until all's clear. What are you waiting for? It's time to buy the stock of stock Like I said, as always, bull market summer. I promise finding just for you right here on Man Bunner. I'm Drew Kramer. See you tomorrow.

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[Steve Huffman]

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[Jim Cramer]

The entire time.

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[Jim Cramer]

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