Mad Money w/ Jim Cramer 6/2/26

Summary

Mad Money w/ Jim Cramer (6/2/26) — Episode Summary

Episode Overview

In this episode, Jim Cramer navigates the rapidly changing investment landscape, focusing on the challenges and opportunities presented by the current tech-driven bull market, especially around AI and data centers. Cramer expresses both excitement about tech leaders' explosive gains and concern over the immense capital required by these advancements—signaling potential vulnerabilities. He systematically identifies underappreciated non-tech sectors and highlights quality opportunities outside of tech. The episode also features in-depth CEO interviews (Palo Alto Networks, Signet Jewelers, Cisco), stock-specific advice during the Lightning Round, and Cramer’s reflections on recent market psychology with Salesforce and Alphabet.

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Key Discussion Points

1. Market Narrowness and AI Mania

Timestamps: 01:02–07:00

• Tech Euphoria:
  Cramer opens with awe over how AI leaders (e.g., Nvidia’s Jensen Huang) catapult stocks like Marvell and ARM. ARM and Marvell, both tied to AI and data centers, have delivered massive single-session surges, while other market segments stagnate.

• Potential Downside:
  Recent news—like Alphabet’s surprise $80B capital raise for data centers and OpenAI/Oracle’s multibillion-dollar Michigan project—expose the unprecedented costs behind AI infrastructure.

  "The build out of AI is looking like it is going to be a lot more expensive than we thought... that's what Alphabet's saying... OpenAI is saying... That's what they're all saying or will be saying the next few weeks and I don't really like that."
  (Jim Cramer, 04:45)

• Market Vulnerability:
  Cramer warns: with $500 billion potentially needed for data center build-out, tech could grow fragile. Equity raises could pressure valuations, forcing investors to seek alternatives.

2. Sector Rotation: Bargains Outside Tech

Timestamps: 07:00–10:10

• Undervalued Sectors:
  After a quick scan of the S&P 500’s laggards, Cramer identifies sectors suffering from investor neglect:
  • Banks: Credit worries dominate sentiment, making premier franchises—like JPMorgan (“the best bank in the world”)—attractive at bargain multiples.

    "You can buy JP Morgan, put it away. Mighty hard to buy and put any tech stocks away right now."
    (Jim Cramer, 07:51)

  • Healthcare: Hit by regulatory and competitive pressures, but quality names like Johnson & Johnson offer resilient, diversified income streams.

    "...Johnson & Johnson has no big patent expirations. Instead, it has more potentially big drugs on the way."
    (Jim Cramer, 09:09)

  • Consumer Staples: Kimberly Clark highlighted for its safe yield and upcoming synergies from a planned business merger.
  • Fast Food: McDonald's (recovery expected after a rare miss) and Yum Brands (potential upside post-Pizza Hut divestiture) are cited as turnaround stories.
  • Packaged Foods: Kraft Heinz—a faith-based bet on new management’s revival plan with a high dividend yield.

    "...these are the stocks that will start going higher if tech retreats and we have to start thinking like that. You'll wish you had some when the time comes..."
    (Jim Cramer, 10:05)

3. Lightning Round & Listener Questions

Timestamps: 10:18–12:25, 40:54–42:09

• Stock-Specific Advice:
  • On Netflix’s puzzling weakness:

    "I think you're onto something. And I'm gonna follow up on it and we're gonna get down to the bottom of it."
    (Jim Cramer to Frank, 10:57)

  • Zoetis/Elanco (Animal Health):

    "I actually do prefer Elanco... That would be the one in animal health that I'd like you to be in."
    (Jim Cramer, 41:14)

  • Energy Transfer (ET):

    "Energy transfer is a terrific situation. I like it very much. I think it is inexpensive and it's got a good dividend..."
    (Jim Cramer, 41:57)

  • Emphasizes importance of portfolio diversification, especially owning some non-tech names for stability.

4. CEO Interviews & Company Deep Dives

A. Palo Alto Networks – Nikesh Arora

Timestamps: 14:27–22:39

• AI in Cybersecurity:
  The “Sassocalypse” is declared dead. AI both foments threats and enables stronger defenses, but the antidote is consolidation: bringing all cyber data together to “fight AI with AI.”

  "AI has the capability to understand bad code... There is only one long term solution—to consolidate, platformize... and fight AI with AI."
  (Nikesh Arora, 15:19 & 15:56)

• Key Data:

  • 1200 customer interactions post-Mythos AI model, 800+ meetings in the past 12 weeks alone.
  • Large deals ($80M+, $200M+) highlight that scale matters.
  • CyberArk acquisition puts PANW in pole position for identity security.

    "Large, happy customers... the only way you do that is you can bring a lot of products to bear, make them work together..."
    (Nikesh Arora, 19:56)

B. Signet Jewelers – Jacob Smith

Timestamps: 24:11–30:39

• Quarterly Beat: 18 cent earnings beat, stable revenue, and better-than-expected comps. Raised full-year guidance.

• Operating Model Transformation:

  • Closure of underperforming James Allen brand, focus on core brands (Kay, Zales, Jared, Blue Nile).
  • Centralization for scale in key corporate activities; decentralization to preserve brand uniqueness.

    "Our mantra is to perform while we transform... the headline for this quarter is consistency."
    (Jacob Smith, 25:28)

• Cash Position & Web Overhaul:

  • $600M free cash flow, 30% YOY EPS growth.
  • New digital platforms to enhance discovery and differentiate brands.

    "Our website is our largest storefront... we want to make sure we're reaching not only the existing customers, but potential customers..."
    (Jacob Smith, 29:29)

C. Cisco – Chuck Robbins

Timestamps: 31:01–40:13

• AI Data Center Boom:

  • Cisco is “best-performing stock in the Dow,” up 66% YTD on the back of data center demand.
  • Recent AI cybersecurity platform launch; massive internal code scans (1.8B lines) using Mythos.

• Strategic Investments:

  • Early bets on silicon (Silicon One) and optics (Acacia) positioned Cisco for hyperscaler supply.

    "If we didn’t have the silicon, we wouldn’t be a player..."
    (Chuck Robbins, 33:18)

  • Early research into quantum-safe infrastructure and encryption.

• Business Durability:

  • Retained broad client trust via fair dealings and reliability.
  • Not capital intensive—focus on OPEX, R&D versus heavy infrastructure spending.

• Industry Collaboration:

  • Cisco shares security learnings post-Mythos with both clients and competitors, believing joint defense is “better for the customer.”

    "We're... talking to other security companies about what we're learning and what we're finding, because we believe doing that actually serves our customers more effectively."
    (Chuck Robbins, 38:13)

5. Market Psychology: Salesforce and Alphabet

Timestamps: 42:21–47:25

• Dip-Buying Mentality:
  Cramer highlights Salesforce's rapid rebound from a widely panned quarter, illustrating the market’s opportunistic buyers. Even after bad news or huge stock offerings (e.g., Alphabet's $80B), there’s robust appetite for tech stocks at a perceived bargain.

  "If we had sold at $176 for the Chapel Trust, we would have been total morons... The pain of selling too low is more important than you might think right now in this market."
  (Jim Cramer, 44:47–46:05)

• Advice:
  Selling stocks in panic/in at lows can be more painful than enduring declines; patience and conviction are rewarded in current market structure.

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Memorable Quotes

• On Tech Market Narrowness:
  "If it's not in the data center or connected to artificial intelligence and connected to Nvidia, then Wall Street's just not interested." (Jim Cramer, 03:18)

• On Bank Stocks:
  "Nothing drives buyers away like credit issues... if you're looking for fortress, I like to stock at JP Morgan here." (Jim Cramer, 07:19)

• On Rotation Risks:
  "You'll wish you had some [non-tech stocks] when the time comes and the momentum tech stocks run out of momentum." (Jim Cramer, 10:05)

• Palo Alto Networks on Consolidation:
  "There still needs a lot of cybersecurity capability and expertise brought to bear... The answer is: consolidate, automate, platformize and use AI." (Nikesh Arora, 19:14)

• Cisco’s Strategic Defense:
  "If you don’t own your silicon, then you really don’t have a value proposition for the hyperscalers." (Chuck Robbins, 38:55)

• Salesforce Market Lesson:
  "The pain of selling too low is more important than you might think right now in this market... Regret's not a strategy. It's a compulsion." (Jim Cramer, 45:58)

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Key Timestamps & Segments

• 01:02: Market open—AI/tech euphoria, concern over capital needs
• 07:00: Sector rotation—banks, healthcare, staples, restaurants, non-tech picks
• 10:18: Lightning Round with callers
• 14:27: Palo Alto Networks interview, AI for cybersecurity
• 24:11: Signet Jewelers interview, business transformation
• 31:01: Cisco interview, AI/data center boom and security
• 40:54: Lightning Round—Zoetis/Elanco, Energy Transfer
• 42:21: Salesforce, Alphabet—market reactions, dip buying, psychology

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Takeaways

• AI Spending Risks: Investors must account for colossal capital needs in tech and the potential for future funding to pressure stocks.
• Rotation Opportunity: Quality non-tech sectors (banks, healthcare, staples) present bargains and portfolio resilience in case of tech pullback.
• Execution Matters: CEO interviews reinforce how strategic execution (consolidation, differentiation, early tech bets) pays off, even in mature industries.
• Psychology & Discipline: Panic selling at lows can be a costly error in a market where buyers readily pounce on perceived value.

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For new listeners: This episode emphasizes a critical moment where AI and tech euphoria meet newfound cost realities, and the importance of diversifying into strong non-tech companies. Cramer’s blend of excitement, caution, and actionable stock ideas—backed by leader interviews—offers clarity in turbulent times.

Transcript

[Venture Global Representative]

At Venture Global, we think about what can be done, not what's usually done through innovation. Venture Global is not only building some of the largest energy facilities in the world right here in the United States, but delivering American energy at a fraction of the cost in a fraction of the time. So while others are busy talking, we're busy building. That's Venture Global. That's unstoppable energy.

[Jim Cramer]

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[Jim Cramer]

To make you money. I'm here to level the playing field for all investors. There's always a bull market somewhere and I promise to help you find it. Mad Money starts now. Hey, I'm Kramer. Welcome to Mad Money. Welcome to Kramerica. Other Friends. Hey man, I'm trying to be a little bit money here. My job, not just entertain, but to educate, teach. Call me 1-800-743-CBC. Tweet me at Jim Cramer. How can you not love a market where videos Jensen Huang can send stocks into the stratosphere like it's magic. Last night, for example, he pronounced Marvell Technology company. We love the next trillion dollar company. He says this outfit with a $200 billion market cap suddenly shoots up 32.5% single session. He's just temple through Nay Haas, the CEO of ARM holdings and jokes about how every time he announces new product, ARM stock goes higher. ARM has been unstoppable for a week now. These are huge wins for anyone who owns them. They are making people fortunes. They are making people millionaires. All these comments coming out of the Computex festival in Taiwan have colored the tape, if you really can't tell. Dow edging up 229 points. SB advancing point 13%. Nasdaq edging up.03% kind of a nothing day, but there's something quizzical here too. Marvell and ARM are emblematic of this market's even more ever more nature of narrowness. If it's not in the data center or connect to artificial intelligence and connected to in video, then Wall Street's just not interested at all. Now I was fine with that. For the travel trust we got plenty of winners, including some that I'm trimming because they've just run up so much. There have been no hurry to it though. However, last night something else happened that really jarred me to the core. Alphabet the total surprise. You notice Google, one of the best, most respected companies on earth decided it had to raise $80 billion to continue its build out of its data center business. Ouch. I thought they had raised enough money in the bond market. That was wrong. At the same time David Faber's excellent interview with OpenAI Sam Altman and in front of a construction site for a data center. 250 acres were a town in Michigan. The site was gigantic and to the naked eye, largely empty. While Sam has plenty of partners, the whole facility is going to cost more than $15 billion. And then Oracle CEO Clay McGurk told David that the tech that goes into it will cost another 30 to 40 billion dollars more. Oh man, where is that money going to come from other than from you if you're a shareholder. These revelations, plus a bit of a pause and a host of growthy stocks, my word connected to software that ran out of juice after a three day gain of strength. It's got me thinking a little more, a little more circumspect. In other words, tech seems to have found some newfound vulnerabilities. The build out of AI is looking like it is going to be a lot more expensive than we thought. That's what Alphabet saying. That's what Open Air is saying. That's what they're all saying or will be saying the next few weeks and I don't really like that. Now I don't like to be contrary for the sake of contrary either. But I do want to take advantage of the fact that the market could it could turn on a segment that is voracious and needy for money like the data centers becoming. The cost is getting too high people. Even as Jensen Wong does say that the more you buy of his ships the more you make. And you know I believe that but it's not yet self evident. I want to find an antidote to some other maybe some other sectors were growth stocks and non growth sectors are now being thrown away. I want to be systematic about it. So here's what I thought. I drew up a list of the worst performing sectors in the S&P 500 this year looking for stocks that seem way too out of favor within those sectors. The most miserable part of this market right now are the banks. People have lost faith in the bank stocks because of credit worries. Nothing drives buyers away like credit issues. And with the economy weakening thanks to the price of gasoline, we have to ask ourselves which financials can withstand the pressure. Now the investment banks like Goldman Sachs and Morgan Stanley, they've got relatively little exposure to consumers. They've been monstrously good stocks though. And we love gold. We have a big position for the trust. Honestly, if you're looking for fortress, I like to stock at JP Morgan here. It's got balanced growth, sells for only 13 times earnings, is the best bank in the world. So that's 10 turns we call less than the average stock. I'm not going to give you the performance of Micron by telling you to buy J.P. morgan. You, you aren't going to get it. But anyway, you're not that early on Micron. You could be early on JP Morgan. JP Morgan is the antithesis of Micron. You normally don't get to buy the stock so cheap and no one would regard it as a lousy franchise. Even as the stock's down 7% year to date. You can buy JP Morgan, put it away. Mighty hard to put to buy and put any tech stocks away right now. Next worst is health care. Oh my. This group has just been annihilated. I've never seen it trading this bad ever. There are myriad problems. Federal government's been putting pressure on drug pricing. The FDA is not exactly friendly. Investors are worried about competition, especially for the GLP1 formulations. Now it's easy for me to suggest to you Eli Lilly as it has Multiple versions of GLP1 drugs including a new one that may be the first that sheds fat without muscle. I know people on this one from the so called gray market in candy. I barely recognize them because they they look so much better, younger and stronger. Notice this version is not approved for these things, but I think that if approved it'll only give Lilly the unassailable knockout punch against Novo Nordisk because it's got fat busting without muscle crunch. The worry I have with this one though, it's the same unreliable fellow shareholders who go to Go Go Tech. Also Lilly. So I'm going to do something completely out of favor and recommend one that we're buying for the Chapel Trust. Gingerly as club members know, which is Johnson and Johnson. JJ has 10 commercialized drugs that bring in more than $1 billion. Several more coming growing med tech business helped by some terrific acquisitions like Shockwave Abiomed for Cardio repair. Meanwhile, JJ is divesting its Prosec commodity artificial hips and knees business. Something that could further raise its price earnings multiple which currently stands at a very low 19 times earnings. Plus unlike almost every other drug company besides Lilly, JJ has no big patent expirations. Instead it is more potentially big drugs on the come. Buy this one slowly because like the banks there is very little support for the stock right here. Well then why start now again? Because we don't know when this vicious rotation will end. They take you by surprise. We need some staples. I've got an odd one. How about a stock I haven't talked about at all? How about Kimberly Clark? Here's a premier Kleenex paper towel toilet paper diaper company world class set of brands right now sells for just 13 times earnings. 5.25% safe yield. I like Kimberly Clark because it's merging with can be J&J's former consumer products division which didn't get much love as the company was determined to move into faster growth pharma. It will be run by the terrific Michael Shu who has synergies lure that he can exploit. Deal closes in the second half. I'm not worried about RFK Junior's aversion to Tylenol. To me like the tax suits filed against JJ issue has become litigation noise gives you an extra bargain. Got two fast food companies that are down on their luck that we all know McDonald's and Yum Brands. The former missed a quarter. Something's very rare. I don't think that's going to happen again. As for Yum, yesterday we started hearing chatter that they're in talks to sell the ne' er do well Pizza Hut business to an ethical long range capital. I thought this one would explode higher in the news because the remaining KFC and Taco Bell are two amazing performers. I think the love affair with tech though is taking the stock down to well below where it should be. A Yum free of Pizza Hut is a Yum that's going to trade much higher. Finally. All right, I'm going to put my neck in there. I want to take on the risk of owning Kraft Heinz with CEO Steve Kalane, the miracle worker who made you a huge amount of money with Kellogg and that breakup at a time when the rest of the industry was falling apart. Steve came on the show not that long ago and laid out a vision that could turbocharge old lost brands. I hope he can pull it off and save the dividend. Currently yield 6.85%. Now this is faith based Investing, though, as I have faith in Steve, he. After what he did with the arguably more difficult Kellogg. But I don't have all that much faith in Kraft or Hines after previous management gutted the company. Now understand why this, this is so important. Things could get tough in tech because there's some $500 billion that might need to be raised in a very short period of time for this data center build out. If more companies sell stock like Alpha, it's going to put pressure on the entire group. And that's when you'll need something non tech, like the stocks I just mentioned. See, those stocks are less likely to be a source of funds because someone who owns Kraft Heinz is not someone who's going to end up trying to sell that one in order to buy some open AI. Bottom line, you're foregoing some risk. But more important, these are the stocks that will start going higher if tech retreats and we have to start thinking like that. You'll wish you had some when the time comes and the momentum tech stocks run out of momentum. Hey, how about Frank in New York? Frank.

[Caller (Frank)]

Jim. How are you today? Boy, I'll tell you, this was a good day.

[Jim Cramer]

I went to the dentist. I had no cavities. That's the kind of thing I now live for as a person. Right? No cavities is a huge win for someone like me.

[Caller (Frank)]

No cavities and great integrity. What a hallucination.

[Jim Cramer]

You're very kind. I wish my dad were allowed to hear that.

[Caller (Frank)]

He called me.

[Jim Cramer]

He called me at 71 said, that guy said, yeah, great integrity. Thank you, dad. So what's up?

[Caller (Frank)]

Hey, Jim. I thought after Netflix was done bidding for the movie studio and all of that, it would revert back to its old price 1:15. They were in a class by themselves, what, holding this stock back.

[Jim Cramer]

Okay, so here's what's amazing, Frank. You and I are thinking alike. I saw today 83 and I said to myself, all right, I got to do a piece about how this stock got down to 83. It shouldn't be. It shouldn't be down 11%. You are onto something. I am going to do it. I can't just say, yeah, I agree with you because obviously that's not rigorous. But I. I think you're onto something. And I'm gonna follow up on it and we're gonna get down to the bottom of it. That's the end of the top. I wanted to show where I had a pain in my tooth and it went away. Dr. Kramer's incredible. He spells it with A K. Now, it might not seem like now, but you still have to own some non tech names in your portfolio. Hey, thank heavens for boredom. You'll thank me once these momentum stocks start running a little bit out of steam. Got a big action packed lineup. That's what you always say, action packed. It's just something you say on tv. You should never say it in real life. Starting with my conversation out the networks, the cybersecurity kingpin is jumping out after a true actual real blowout. Let's sit down with the CEO, learn more about the quarter. Insignia Jewelers just reported a sterling quarter. And I'm learning more about how this company can keep delivering diamonds for investors. I think it had a really good quarter and Cisco's already up more than 65% so far in 2026. Old Dog, New tricks. So could this legacy tech theme keep its momentum in the air? I get an idea. Why don't we sit down with the CEO, C.H. robbins? So stay with Kramer.

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[Venture Global Representative]

Head to madmoney.cnbc.com@venture global, we think about what can be done, not what's usually done through innovation. Venture Global is not only building some of the largest energy facilities in the world right here in the United States, but delivering American energy at a fraction of the cost in a fraction of the time. So while others are busy talking, we're busy building. That's Venture Global. That's unstoppable energy.

[Jim Cramer]

Hey, Fidelity. How can I remember to invest every month?

[Fidelity App Representative]

With the Fidelity app, you can choose a schedule and set up recurring investments in stocks and ETFs.

[Jim Cramer]

Huh, that sounds easier than I thought.

[Fidelity App Representative]

You got this?

[Jim Cramer]

Yeah, I do. Now, where did I put my keys?

[Fidelity App Representative]

You will find them where you left them.

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[Jim Cramer]

I want to make it this quarter. Palo Alto Networks. If the closed stocks been all the way up and come all the way down, it's kind of just going around. Let's go right to the source with Nikesh Roy, the Chairman CEO of Palo Alto Networks. Learn more about the quarter and what comes next. Mr. Roy, welcome back to Mad Money.

[Nikesh Arora (Palo Alto Networks CEO)]

Jim, nice to see you again.

[Jim Cramer]

Okay, so Nikesh, in the last, I don't know, 90 days, how do people figure out what you knew was truth from the beginning?

[Nikesh Arora (Palo Alto Networks CEO)]

I don't know, Jim. I think we just finished our conference call and I think we declared the Sassocalypse dead for cybersecurity officially.

[Jim Cramer]

Well, it's very clear that it's been a boon for you particularly because you've got a couple things going. Everybody needs to be privileged now because there's millions. We, we got machines all over the place and they've got to be stopped. And I don't know who else has a solution like you.

[Nikesh Arora (Palo Alto Networks CEO)]

Well, Jim, look, I think what we've seen, a lot of people have discussed mythos in different public environments and I think what is very important to understand. AI has the capability to understand bad code. AI has the capability to take vulnerabilities, stitch them together and figure out a way to attack bad cyber infrastructure. Now we have to find antidotes to that. There is no easy way around it. The antidote in the short term is a lot of testing, a lot of blocking and tackling which I think a lot of people are trying to do as we speak. Lots of consulting companies are involved, cybersecurity vendors involved. But remember, these models have a 30% false positive. So when you think it found something, it may not have found something, it may not have found something it should have found. So there still needs a lot of cybersecurity capability and expertise had to be brought to bear to figure out where the problem are to solve them. That's a short term problem. What this does prove is there is only one long term solution is to consolidate, platformize, bring all your cyber data in one place and fight AI with AI. And that's become apparent to not just the market and to everyone in the last, I think 90 days or so that you know, we are a net enabler of better cybersecurity. We're not a victim of amazing AI that's going to happen in the future.

[Jim Cramer]

I mean there are, there are some daunting things when I read your stuff sometimes I just, I'm allocated favor, I'm not scared out of my wits about it, so to speak. Although he's okay. But machine identities, 109 to 1, that's how many machine identities there already are.

[Nikesh Arora (Palo Alto Networks CEO)]

There are, look, there are service accounts, there's agents, there's all kinds of non human identities that are out there which are doing stuff in the back. They're talking to each other. Now as you look at your cybersecurity, if you look at IT Enterprise, you have humans, you have machines, you have agents, you have got to manage all of them because any of them that's unmanaged becomes a potential attack vector. So that was our thesis of buying Cyberark, because Cyberark is the only true identity security company that actually stops things from happening, not just keeps track of them or catalogs them. We figured that was in pole position to build this capability to help us manage the entire enterprise from identity perspective. We relaunched it and built more products under the brand Idera three months ago. And as you saw from our results, we seem to be making good progress in the first quarter. Having Cyber Arc as Palo Alto. We have amazing plans for them going forward. But it's going to be crawl, walk around, get them amazing, build more capability, get out and make sure every customer has that capability.

[Jim Cramer]

Now it's got to be that these, these particular gremlins, if as smart as they are, if you don't have a platform, won't they find the crack and get in? Won't that be something that they are programmed to do?

[Nikesh Arora (Palo Alto Networks CEO)]

Well, Jim, you know, if one thing the last two years has taught us is more data gives you better AI, that's obvious, right? If you look at all these models, you're saying let's train them more and more parameters, more and more bits. Because the more bits you put into training, the better the outcomes are. Every enterprise is chasing. Let me get more data. You have companies that do training data. They're flying into the stratosphere because they're helping train models to get better and better, smarter. Guess what? Cybersecurity needs the same thing. Which means you have to bring all the data together in one place, train your defensive models so they can fight the aggressors of AI. And there are very few companies out there which are providing platforms, allow it to integrate data and allow you to have a whole bunch of capabilities under one roof. And that's why networks.

[Jim Cramer]

Now, how many calls, incoming calls have you had since, since methods? I mean, how many people just say listen, I Don't know to be scared. Am I okay? I mean, just people who just know, you know, you as someone who understands this business, been around a long time, just say, am I dead? Are they going to wipe me out?

[Nikesh Arora (Palo Alto Networks CEO)]

Across the company, we've had 1200 customer interactions where they've asked to talk to us. We've spent the last six weeks talking to 800 of them. We have 400 more to go. Just to give you a sense, we did 1200 meetings all of last year. We've done 800 the last 12 weeks.

[Jim Cramer]

Right.

[Nikesh Arora (Palo Alto Networks CEO)]

So we're busy. We're busy. And this is not just about help me buy some. This is about help me understand what the problem is. How do I solve this problem? How do I deal with today? How do I deal with the next version of Mythos? How do we deal with the following version of Mythos? What does the world look like in six to 12 months when these AI models keep getting smarter? So the customers are smart. They don't want to solve just the problem today. They want to understand how to get ready and position themselves for six to 12 months from now. And the answer is consolidate, automate, platformize and use AI.

[Jim Cramer]

And that's what's happening. What a $200 million air leading frontier AI lab. That's giant, Fortune 500 power producer, $80 million deal. These are huge deals to being done just like that.

[Nikesh Arora (Palo Alto Networks CEO)]

Well, Jim, we've always maintained if you want to build a large enterprise company, you have to have large customers. You have to have large, happy customers. And the only way you do that is you can bring a lot of products to bear, make them work together, have the customers see the value of those products together. I don't want to sound like a broken record, but you have to platformize.

[Jim Cramer]

Well, there were many companies in this business when you and I started talking. There's another company we're all familiar with. Everybody in this business seems to be friendly. It's you and George Kurtz. But now I don't know anybody else is. Are you just into Wapley now after having a dozen companies in this business when I first met you?

[Nikesh Arora (Palo Alto Networks CEO)]

Well, Jim, I think some of us took a very platform centric approach and said the customers need for us to do the heavy lifting and to bring all these capabilities to bear. We have to get out of the feature business, get into the platform business. And I think George done a tremendous job at CrowdStrike. Very, very admirably. What he's done. We're still slightly bigger than him. So I please tell him that when you see him tomorrow. But I think both of us are trying to do the right thing about the customers, trying to make sure our customers are protected, trying to make sure the customers have an antidote to fight AI. We're trying to make sure that our customers can go do what they need to do because they can trust us to protect them.

[Jim Cramer]

How did you know to take Cyberark, which I always knew is that, you know, there was the keys to the kingdom is very small group of people. How did you know you had to blow that out to everybody? And how were you able to do it so fast?

[Nikesh Arora (Palo Alto Networks CEO)]

Well Jim, we're still early days, I think. Remember what's very important is our first phase of M and A was to take product companies, find a way to integrate them into our platform and put them into our go to market engine to make sure our customers had the capability across the board. I've always wanted to look at subsectors of cybersecurity to see when is that sector going to hit an inflection point. Because typically when you hit inflection points you need innovation and people are willing to change. And as the AI train started moving, we said, wait, this is going to create a whole bunch of new sort of vectors, new identities capabilities, machine identities. And then we said the only company that is so well respected in identity that does security, cyber arc. And you don't know Udi. Udi's a great guy, he built a great business. They just needed a little more sort of push to get more innovative quickly. And I have to say the team's amazing. They've responded very, very effectively. In fact, the entire team is in our headquarters today. We're working with them. We're trying to make sure that they become the platform of choice for identity in the future for both human and non human identities. That's our aspiration. It's good progress in the first quarter together with us and hopefully we can continue to make progress with them going forward.

[Jim Cramer]

Well, congratulations. Great quarter all coming together. I knew it would the other. I don't know where the doubters went, but I don't think they're in the business anymore. I want to thank the cashier or chairman CEO of Palo Alto Networks B and W. Thank you. It's always good to see it.

[Nikesh Arora (Palo Alto Networks CEO)]

Thank you. Thanks for having me again.

[Jim Cramer]

Everybody's back, everybody.

[Mad Money Announcer]

Coming up, is it time for investors to put a ring on signet jewelers? Kramer's inspecting the stock with the company's CEO next.

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[Jim Cramer]

This morning Signatures were a surprisingly strong quarter. The retailer you know is Kay Jewelers, Zales Jared, bunch of digital brands including Blue nile. Delivering an 18 cent earnings beat off a $38 basis with in line revenue and slightly better than expected. Same store sales growth. Even better, Signet gave solid guidance for the current quarter, raised its full year forecast across the board. Not many retailers have done that. That's why the stock jumped 3.75% today. Of course this has been a real wild trader of the years seeing it right from $45 at its lows in March of last year to 110 its highs in October. Then the stock pulled back all the way to $71 a few weeks ago. But despite widespread worries about the consumer discretionary space has now rebounded to $88. So could this be the start of a larger recovery? Let's take a closer look with JK semantics. JK Semancy. He's the CEO of Signatures. Mr. Smith, welcome back to man oh

[Jacob Smith (Signet Jewelers CEO)]

thanks for having be here.

[Jim Cramer]

Okay so Jacob, this I want to posit this. For a long time this thing's been a Tigers. Wow. Yeah, I saw something this quarter. You know the cadence wasn't that great in the sales. It went up and down. The end was good. But you are making this company a lot easier for people like me to understand who have followed it. And I am thinking and that means you are actually going to have that slow progression higher rather than the up and down oscillator. Is that possible?

[Jacob Smith (Signet Jewelers CEO)]

Yeah, I believe so. I you Know our mantra is to perform while we transform. And I think that what you see in this quarter is consistency. We saw growth, you know, 15 out of the left last 17 months. Positive comp performance. Positive comp performance across all brands save for two James Allen.

[Jim Cramer]

Right.

[Jacob Smith (Signet Jewelers CEO)]

Which obviously we've, we've closed down as a business.

[Jim Cramer]

We're going to talk about that.

[Jacob Smith (Signet Jewelers CEO)]

Diamonds Direct, which is actually showing sequential improvement. And we saw balance across the the business with all categories off on a balance of both unit improvement or sequential improvement to the trend. And a. You are growth. So, you know, I think the headline for this quarter is consistency, which I think is. Is something that, you know we're positioned to deliver.

[Jim Cramer]

That's what I want under the grow brand love strategy. I see focus on top brands. Kay Jewelers, Zales, Jared and Bruno. You bit the bullet on James. There's nothing wrong with biting the bullet.

[Jacob Smith (Signet Jewelers CEO)]

That's right.

[Jim Cramer]

You want courage from management in order to get things so that you're revealed as now a free machine.

[Jacob Smith (Signet Jewelers CEO)]

Correct.

[Jim Cramer]

Yeah.

[Jacob Smith (Signet Jewelers CEO)]

You look at free cash flow, $600 million EPS growth of 30%. I mean that this is a great business. It's a business that matters to consumers. It's a business that's really undervalued relative to its performance. And I think the key to that is durable growth but also consistent performance. And that's what I hope we're starting to show the ability.

[Jim Cramer]

I couldn't agree more. I turned to Ben Stoddard. He and I were working. I said did you see the cash position here? And I said how they do it, making a huge amount of money. That's right. It's not hidden by all different divisions. Now I do want to understand what is the plan to have make it so that there's going to be a little more synergy among the different divisions to be able to cut some of the costs.

[Jacob Smith (Signet Jewelers CEO)]

Yeah, I mean we've worked hard over this last year to really rebalance our thought around what's distributed at brand level and what's centralized. So when you think about centralization, think about places where we can better leverage scale. How we buy media, how we generate content as a company and leverage that. That economy of scale. The economy of scale that comes with operating a better e commerce environment, sourcing, thinking about a cohesive diamond sourcing strategy, where and how we choose to play big or where we want to operate as a smaller company. That's really what's driving the centralization side of it. Those things that are about customer experience, they really are best distributed to brand. We had, we had centralized those which had an effect of really kind of pulling the brands on top of each other.

[Jim Cramer]

Yes.

[Jacob Smith (Signet Jewelers CEO)]

Now as we move into this year, we were really excited about. We've leveraged the benefit of centralization and starting to see our operating model work. You see that in our SG&A. You see that how we're able to. Despite some of the balancing act between top line and gross merch margins, we're still expanding our operating margins. That's because of that centralization. Now the work in year two of grow brand love is about how do we really differentiate and bring distinction to these brands centered around four core engines, Blue Nile, Jared and Diamonds Direct. I'm so K Zales.

[Jim Cramer]

I can't tell you how great I feel about that because I myself and I've studied the company now for a long time have not been able to figure out why one sells at one and one sells at the other. And you can't do that. It's the kind of thing that confuses the consumer. We've seen this over and over again. The great retailers know how to differentiate. That's where you're going.

[Jacob Smith (Signet Jewelers CEO)]

I think that's really where the unlock and more value for the company is not just for investors and for us as a business, but also for consumers. We're in a category that matters. The more we target the right consumer group, the better off we're going to be.

[Jim Cramer]

You know, there's so many things, look, I love the changing pay structure, new website. That's about time, isn't it?

[Jacob Smith (Signet Jewelers CEO)]

Yeah. We're essentially operating on the same rails from a digital experience with K Zales Jared that have existed since 2019. Safe to say, I mean, I joked earlier, we've probably had a couple of iOS updates that change how we navigate our phone just in the last three months. And so to think about an experience that's going to have improved navigation is really going to put us in a position to allow discovery and content sharing to be better and ultimately, you know, get beyond a single set of wireframes that run multiple brands to an experience that really reflects what, what each brand stands for. Our website is our largest storefront. We want to make sure we're reaching not only the existing customers, but potential customers with the message roll.

[Jim Cramer]

And I kind of like it right now. I. My dad was in the seasonal gift visit. Okay, this is a nice time to buy. There's nothing really cooking. You can get a good price and then you're going to hit it hard for me.

[Jacob Smith (Signet Jewelers CEO)]

Yeah, we'll position these websites be well positioned coming through the summer to take advantage of it, reach customers when it matters.

[Jim Cramer]

Well, look, I can't wait to see what it's going to be like because it's so clear. You got the cash, got the strategy, you're getting rid of the brands. It didn't work. You're making it very clear. Look, sing it's right here. Right here. You've got it right.

[Jacob Smith (Signet Jewelers CEO)]

I appreciate our team's working hard. We're excited about not only what we've done, but the road in front of us.

[Jim Cramer]

But sometimes they do. Yeah, it takes a little time. Jakey. Semantics is Jakey Smith. I've got to tell you, I usually don't say this, but this sig take a look at because it's really, really right. Thank you, jk.

[Jacob Smith (Signet Jewelers CEO)]

Appreciate it. Thank you.

[Jim Cramer]

Jim. That money's back.

[Mad Money Announcer]

Coming up is Cisco the stock to own in the era of the data center. Kramer, seeing where things stand with the company's top brass next,

[Jim Cramer]

All sorts of old fashioned respected tech stocks have caught fire here thanks to this AI data center boom. Take Cisco, the networking and security giant. Here's the Stock that's up 66% for the year, by the way. Do you know that's the best performing stock in the Dow Jones average on surging data center demand? Something we heard all about when the company reported a magnificent quarter last month. Today, Cisco routed another 5.5% as we learn more about their newly unveiled AI cybersecurity platform. Cisco cloud control unified platform built for humans and AI agents to defend critical information technology infrastructure. Is this a whole new approach to cybersecurity? Let's check in with Chuck Robbins. He's the chair and CEO of Cisco. To learn more. Mr. Robbins, welcome back to Bit Money.

[Chuck Robbins (Cisco CEO)]

Thanks for having me, Jim. I hope you're doing well.

[Jim Cramer]

We're sure trying, Chuck. I though I periodically get nervous and worried along with my partner David Faber about this Mythos. I feel like somehow something's been unleashed and you got to go back to people who have seen all kinds of things like you have at Cisco to make it understand that maybe we have to have a new approach to stopping this beast.

[Chuck Robbins (Cisco CEO)]

Well, Jim, first of all, I think our teams have had access to Mythos the model for about three months and we've run to give you just a sense of the scale. We've run 1.8 billion lines of code through Mythos in eight weeks and it's 25 different programming languages and it would have taken us eight years to do this prior. So if you want good news, the good news is that every manufacturer who delivers software to customers should be able to find their vulnerabilities and deliver quality software. So that's the good news if you want to see that. What most of our customers are dealing with right now is understanding that many of these vulnerabilities exists because of tech debt. So equipment that's past last day of support, that's fundamentally just not patchable. So while there's a security element where we have to change security architectures, the first thing everyone needs to do is just get their technology modernized to be ready for this.

[Jim Cramer]

Now, a lot of the things that I think have gone well for you, they've been the best Dow stock of the year, is because you're a trusted name, but also you've made some acquisitions. Silicon One is something that we. That looks like it was such a prescient acquisition. Acacia, these things have come together. Can you tell us about the Cisco that you've created that have made it so it's uniquely right for this time?

[Chuck Robbins (Cisco CEO)]

Jim, it's, it's funny to think back that we actually bought a company called Leiba, which is the core of silicon one, literally in 2016. And so working over the years to build this new silicon architecture has enabled us to deliver technology to the hyperscalers for their training model connectivity. If we didn't have the silicon, we wouldn't be a player. We would get zero out of that. So that's been an incredibly important acquisition. And then Acacia, which, if you recall, we got caught up trying to get China's approval and we had to go back and then come back again. And we got it done because we felt like it was that important. And now you see, optics are as important as the silicon is on the networking side. And we have this incredible set of technologies that then enable us to build systems. And I think if you, if you look at supply chains today, owning your own silicon and owning your own technology so that you can actually have more control over your supply chain is a massive competitive differentiator as we go to the future.

[Jim Cramer]

Now, another thing that you point out yet a really good note that came out this morning, which you talked about, clear path to quantum safe infrastructure. Chuck, I got to tell you, I've had a bunch of quantum guys on. I own some, I own some, some crypto and I realize it's maybe a mistake. I think other people are selling it too, because we don't know how powerful quantum can be. You're the first person who has Taken a hard look at what it could mean and how to make safe communications. And I got to ask you, can it be kept safe?

[Chuck Robbins (Cisco CEO)]

Well, Jim, we talked today about the fact that these individual nodes like GPUs and models and inferencing are powerful unto themselves, but they're much more powerful when you network them. You have to connect them to get the true value. And Quantum is going to be no different. You have to be able to connect these quantum computers, but you have to be able to do it in a way that connects them so that you can preserve the encryption and that sort of thing. And we, we stood up a research team probably six years ago to begin this work seven years ago, and we delivered the first prototype of a quantum ethernet switch. And our intent is for us to be post quantum cryptography ready, which G2 talked about today on stage with some of our current platforms. And we think the network layer, we think we're in good shape to be ready when Quantum hits the scene right now.

[Jim Cramer]

Chuck, just to be a little philosophical, second, we remember when Cisco was the largest company and you know, I had people always keep saying, well, it's a bubble 2000, Chuck, you've been around. You know, this is very different. But I was concerned today when I see Google raising a huge amount of money and I know these other companies are coming public, I'm just worried about the sheer amount of money that's really needed in order to be able to get to where Jensen is saying, if you spend money, you make money. How do we get to that promised land? How is Cisco assured that it doesn't have to overspend to keep up?

[Chuck Robbins (Cisco CEO)]

Well, for us it's different because we're not capital intensive. So it's about OPEX and just investing in R and D, which is something that we're going to do because our business is accelerating right now. So we need to invest in silicon, we need to invest in optics. And I think you're going to see the cost of tokens come down over time. And I think that's where we're going to get to so that both sides, as the enterprises can derive the value from these AI models as well as the models will continue to make money and continue to be able to invest as they are today. But I think the big difference if you look at it, are the big spenders in this space are companies that have great cash flow, strong balance sheets, and they view this technology as existential. And they're going to spend what they need to spend to make sure that they are prepared for the future. And I think that's a good sign for all of us in this space.

[Jim Cramer]

Okay, so just to go back for a second, you're at the infrastructure services that you are offering. I mean, look, it's absolutely important to talk about. To talk about cyber, but the fact is, is that you've got a tremendous breadth of clients. The whole time, you never lost them. How did you do that, Chuck? How come everybody came back as if it's, you know, look, they just know Cisco, and it turned out to be your advantage that you were an older company?

[Chuck Robbins (Cisco CEO)]

Well, what we've tried to do is build relationships with our customers over the years so that they trust us, and we try to treat them fairly, and we try to be there. And when we screw up, we admit it and we fix it. And when things are going well, we don't take too much advantage of it. And I think that's helped us along the way. I think it's a real advantage for us to be providing infrastructure in the cloud networks, because that gives us an understanding of what's going on there. Our strong presence that we've always had in the enterprise, which is public sector and commercial and enterprise, and then the telecom market, the telco market, which is going to play an increasing role in AI capacity as we look to the future. Our ability to understand how all of that fits together, I think is just a unique capability that's going to serve us well as we look to the future.

[Jim Cramer]

Well, then tell me how many big customers or people who want to be big customers called you after this Mythos came out because they know that Chuck Robbins is not just going to, you know, feed them about a line that's not your style.

[Chuck Robbins (Cisco CEO)]

Well, that's. That's very nice, Jim. I think the reason they called me is because our team had built a harness which is basically a blueprint for how you use this technology to run code through it. We'd had it longer than anybody else, and so a lot of our customers called and still call. We had conversations today with multiple customers. Our security and trust team has probably had thousands and thousands of conversations, and we're doing it. And we're also talking to our competitors, we're talking to other security companies about what we're learning and what we're finding, because we believe doing that actually serves our customers more effectively.

[Jim Cramer]

And one last thing. I know that when you mentioned Silicon One, if you don't have it, you're in trouble. Some of your competitors don't have it, do they, Chuck?

[Chuck Robbins (Cisco CEO)]

Well, I've said all along that if, particularly in the hyperscale space, the value is either in the operating system or the Silicon Valley, and if they are moving to open source operating systems or their own proprietary operating systems and you don't own your silicon, then you really don't have a value proposition for the hyperscalers. The good news for us is we own our silicon. We continue to work with them to co design silicon in many cases for one particular customer. And I think that's going to serve us well.

[Jim Cramer]

And then were you surprised at all that the stock had this takeoff today? I thought. I'm asked this because I know you and we both know stocks and you talk about a lot. I thought it was. I think you're finally getting your due. But that was one hell of a move today.

[Chuck Robbins (Cisco CEO)]

That was a big move today. We were talking about it earlier and that's probably one we didn't expect, but our friends at HP had a great quarter last night. I texted Antonio and congratulated him last night on a great quarter. And I think there was some sentiment that pulled us along with him, which we're happy to take.

[Jim Cramer]

Well, look, congratulations. You deserved it. You put all these acquisitions together and it turned out to be they were right. You took some shots. Other people should do the same thing, Chuck. They really should. Anyway, you have a good time at your conference. I know you got a lot more people to talk to, but thank you for coming on Mad Money on a really special day for you and your company.

[Chuck Robbins (Cisco CEO)]

Thank you, Jim.

[Jim Cramer]

Good to talk to you. All right. That Chuck Robbins chair, CEO of Cisco. Remember, best performing stock in the Dow Jones Industrial average. Man Bunny is back after the break. It is time. It's time for the light rail stock and then the lightning round is over. Are you ready, Ski? That's a lot. I'm gonna start with Lou in Florida.

[Caller (Frank)]

Lou, Hi, Jim. Thanks for taking my call again.

[Jim Cramer]

My pleasure.

[Caller (Frank)]

Been following you guys for like 12 years. I love your show.

[Jim Cramer]

Oh, thank you, buddy. Thank you very much.

[Caller (Frank)]

My question I'd like to get your view on, please, is a company called Zotis. They have a position.

[Jim Cramer]

Zoetis. So Edis. Now there's something not well there. It's the first time I'm going to say this, but I actually do prefer Elanco. I think Elonko and Jeff Simmons have really come on very strong. That would be the one in animal health that I'd like you to be in. But I heard something, but I'm going to ignore it entirely. Let's go to Bill in Texas. Bill.

[Caller (Frank)]

Booyah Jim. Club member, proud club member, longtime student and thank you so much for all you do for us.

[Jim Cramer]

Thank you. Thank you.

[Caller (Frank)]

I wanted to get your thoughts on old time favorite hadn't talked about lately. What do you think going forward on energy transfer?

[Jim Cramer]

Energy transfer is a terrific situation. I like it very much. I think it is inexpensive and it's got a good dividend and that. Ladies and gentlemen, conclusion of the Lightning round.

[Mad Money Announcer]

The Lightning round is sponsored by Charles Schwab. Coming up, Kramer's using his history with shares of Salesforce to guide you on how to navigate turbulent stocks.

[Jim Cramer]

Next. I saw the shocking news last night that outlets plan to sell $80 billion worth of its stock. I thought to myself, oh, if this doesn't bring out the sellers, what will? But then I remembered the incredible snapback in the stock of Salesforce less than a week ago. A stunning move that happened for no apparent reason after many thought that company reported a lukewarm quarter. Since then, I now realize there are plenty of dip buyers in all sorts of tech. How are the sellers going to keep the seller Alphabet down even with a ton of stock for sale when they can't even keep Salesforce down after a widely panned quarter? Full disclosure, my Chapel Trust has owned Salesforce for ages. It's a stock I've liked ever since CEO Mark Ben aff explained how the company really works me during the depths of the financial crisis. Since then, the stock's given us some spectacular gains and we gradually peel off a bunch of shares for really, really terrific profits. We did keep someone though, out of a belief in the product, in the man, and maybe a sense that software as a service business model remains somewhat viable. Let's do that. But ever since artificial intelligence took the world by storm, Salesforce has gone out of style along with Surface, now, Adobe Workday, and all the other heavy hitters. The whole idea behind AI is it will let you do more with fewer people. And these software as a service companies charge per user, their growth path has slowed noticeable. That means sales will have to slow for these companies. Mark has made great strides in creating an agentic AI product that might be the best in the category. He's got Slack system, very popular. I know, I like it. For the record, I actually like the quarter too. But Salesforce's growth isn't supposed to reaccelerate until the second half of the year. In the interim, the company's buying back massive, massive stocks. 25 billion already. Another 25 billion to go. Real sonic conviction Speaks louder than words to me. Last week, after Salesforce reported the very good set of numbers with the not so hot forecast for the current quarter, lots of longtime shareholders decided to throw in the towel. Boy, there was a lot of negativity. But we stuck with it for the trust. The next morning. If we interviewed Mark the night before about the quarter, stock was down 4$4 in premarket trading was hanging at 173. Call continued asking on air what I do with it, I hold. I pause for a second, reluctant to say it, but I said I buy it. Salesforce and 13 times earnings. Too many dollars to be short sellers. I remember when people love this one at 26 times earnings. Now they hit it 13 times earnings. That's crazy. The stock had gone out at 177 the night before. Soon after I called the bottom, the stock opened lower and hit 171. Then it shot up to 181 just after 10 o' clock that morning. Oh, but then it fell back to 176 and it closed. There was hanging by a thread. I figured it was only a matter of time, maybe another day before Salesforce took out that 173 level that I that I said I'd buy it at and I'd be one more idiot beaten by the enterprise software stick. But it didn't happen. Instead, we got a real shock. Buyers swarmed out of nowhere. They were all over the place, snapping up every enterprise software stock, including the formerly hated software as a service place like Salesforce. Oh man, the buyers. They were everywhere. I couldn't tell if it was a concerted sweep or just a frantic bout of short covering. Maybe even use one of the myriad ETFs that include these stocks. Well, guess what happened? The stocks eventually finished up more than 8% last Friday. Then yesterday the stock gained another 9.7%. The next thing you know, that $176 stock is at $209. Of course, today it pulled back to $200 and change. But it's still up big from its lows last week. It was just too hated in the 170s. Now, has anything actually happened to the company Salesforce since Thursday justified this crazy move beside the change of sentiment? No. The whole go around is based on a just reported quarter. What does matter though, is that the stock of Salesforce mounted a furious rally right after. It looked like a total corner and we still don't even know why. The takeaway is clear. If we had sold at $176 for the chapel Trust. We would have been total morons. Sellers threw in the towel simply because they couldn't take it anymore. Bad reason to do anything. But now we know there is a level where it's finally become more dangerous to sell than it is to buy. And that could be the real bottom. What's the moral of the story? Simple. The pain of selling too low is more important than you might think right now in this market, the risks are now asymmetrical. Selling Salesforce at the lower is worse than owning it as it goes lower. That's what's changed. I think it lasts. Discipline says don't let a stock get to where it can hurt you, like Salesforce did to me. But conviction says it isn't worth selling all the way down here from where it was. Everything has a price, and 173 was below what we call the clearing price. It's a balance. Right now the balance says hold on because if it comes back without you, you'll never stop kicking yourself for missing that move. Regrets, not a strategy. It's a compulsion. And the compulsion to buy Salesforce, if it gets back to the 170s, will be very hard to resist. I'd like to say there's always a market somewhere and I promise try to find it. Just for you. Right here. Made money. I'm Jim Cramer. See you tomorrow.

[Mad Money Disclaimer Narrator]

All opinions expressed by Jim Cramer on this podcast are solely Kramer's opinions and do not reflect the opinions of CNBC or its parent company or affiliates, and may have been previously disseminated by Kramer on television, radio, Internet or another medium. You should not treat any opinion expressed by Kramer as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his opinion. Kramer's opinions are based upon information he considers reliable, but neither CNBC nor its affiliates and or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. To view the full Mad Money disclaimer, please visit cnbc.com madmoneydisclaimer hey Fidelity, what's

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