Mad Money w/ Jim Cramer 7/7/26

Summary

Mad Money w/ Jim Cramer – July 7, 2026

Host: Jim Cramer
Network: CNBC
Episode Theme: Market cross-currents: a pivotal day for tech and mega-caps, structural shifts in airlines, and new opportunities in defense and industrials

---

Episode Overview

Jim Cramer tackles a “shift day” in markets—a dramatic move where high-profile hardware and data center stocks tumbled in the wake of Samsung’s earnings, with money rushing into defensive healthcare, software, and even the long-neglected hyperscaler tech giants. He explains market psychology behind such rotations, tackles specific stock questions from callers, and highlights how airlines and defense names have transformed amid a new economic environment.

---

Key Discussion Points & Insights

1. Samsung’s Miss and the Domino Effect on Markets (01:01–09:49)

• Samsung’s Slight Miss, Big Market Impact

  • The South Korean memory chipmaker’s preliminary quarterly results were "superb, but not superb enough" (03:23). This led to a 9% drop, with investors questioning global data center demand and extrapolating negativity far beyond Samsung.
  • SK Hynix and Micron, both big memory names, fell sharply in sympathy, followed by ripple effects on data center-linked stocks like Western Digital, Vertiv, Seagate, Caterpillar, and equipment makers (KLA, Lam Research, Applied Materials).

• Cramer’s Metaphor:

  • “If you prune [your tomatoes], they bear the most fruit. If you don’t, they don’t do as well.” (02:00)—likening market corrections in high-flyers to necessary pruning for future gains.

• Panic Linkage:

  • “Whenever you have a visible miss, no matter how slight, there is always going to be some nervous, jittery shareholders of other companies who insist on extrapolating that weakness.” (04:43)

• Shifts in Defensive and Growth Trades:

  • Money rotated into defensive healthcare (Johnson & Johnson, Cardinal Health, PepsiCo), and classic enterprise software (Salesforce, Adobe, ServiceNow).
  • Even the “hyperscalers” (Amazon, Google, Meta)—“the walking dead”—saw money come in, a big shift from their recent underperformance (08:24).
  • Mega-cap tech (Nvidia, Microsoft, Apple, etc.) bounced despite recent pain.

Memorable Quote:

• “Maybe you just have to [put all these moves] into me, because I’m going to tell you... today kind of looked at least in the afternoon like the old days...” (08:39)

---

2. Callers & Hot Stock Q&A (09:49–13:03)

Pfizer (PFE)

• Question: Is Pfizer’s high dividend (7%) worth it given poor growth?
• Cramer: “They do have earnings growth problems. They haven’t been able to make the [Seagen] acquisition work... The dividend is safe at 7%. I wish I could be more positive... I can’t come up with where the growth is.” (11:46)

Market Rotation – Cramer’s Bottom Line

• “Today felt like a real shift when it comes to tech stocks... Mag7 could be—it could be a phantom, but it felt different.” (12:10)

---

3. Walmart’s Quiet Sell-Off—Is It a Buy? (14:56–21:47)

• Context: Walmart down almost 18% from highs, despite only reporting a "fine" quarter.
• Problem: The company reiterated rather than raised guidance; worries about consumer softness and oil prices spooked investors.
• Cramer’s Analysis:
  • Plummeting oil and gasoline prices have erased main consumer pressure points that justified Walmart’s fall—“that world is gone, people.” (16:47)
  • Tariff relief and potential refunds could be coming as a bonus not yet in estimates; management likely to pass savings to shoppers (19:36).
  • Walmart remains "one of the greatest companies on earth," and is now a key “trade-down” destination even for higher earners up to $100k households.
  • Cramer’s Call: “I think you’ve got a great setup for the consumer and for Walmart... worth buying right here, right now into weakness.” (21:24)

---

4. Airline Industry: From Boom/Bust to Secular Growth? (23:34–29:49)

• Backdrop: As oil plunged with the winding down of the Iran war, airline stocks soared—Delta up ~28% YTD, United up ~15%.

• Industry Transformation:

  • Past bankruptcies and boom/bust cycles are giving way to discipline.
  • Ultra low-cost carriers are gone or shrinking (Spirit, JetBlue, Southwest more disciplined).
  • Majors now cut unprofitable routes rather than slash prices—“no more full-on price wars” (25:37).
  • Focus has shifted to profitable premium segments (first class, business, credit cards—Delta's Amex deal is 13% of revenue).

• Secular Investment Thesis:

  • “If it’s true that Delta, United are becoming secular growth winners and not just boom and bust cyclical stocks... you’re going to start to see these stocks get rerated higher.” (28:00)
  • Current P/Es in the mid-teens, but could rise toward S&P averages if growth thesis holds.

• Cramer’s Recommendation:

  • “Go buy these two best operators [Delta, United] right here.” (29:31)

---

5. Lightning Round and Call-In Stock Picks (41:06–43:31)

Notable Q&A

• Honeywell (HON):

  • “Keep buying it... We just got one [pure play in aerospace] put together by Dave Cote—one of the greatest CEOs of all time.” (30:21)

• CSX (Railroads):

  • “Great long-term investment... I think that stock you go to 60. Let me throw in Union Pacific—I like that one too.” (31:47)

• Casey's General Stores (CASY):

  • “Buy 10 shares. If Pop were alive, I’d say Pop, buy 10 shares every three weeks.” (41:15)

• Skyworks Solutions (SWKS):

  • “They got that CEO, he’s trying to turn it around. Someone has to buy them... at a 4.75% yield while you wait.” (41:43)

• Forge Global:

  • Recent secondary offering resulted in lots of stock coming out, but “fundamentals are really gorgeous.” Cramer likes the story. (43:11)

---

6. Deep Dive: Applied Aerospace & Defense CEO Interview (33:20–40:36)

• Guest: Trip Ferguson (CEO, Applied Aerospace & Defense)

• Company Profile:

  • New IPO, positioned as an agile contract manufacturer for drones, missiles, satellites—a sector in focus with war/defense restocking needs post-Iran war.

• Ferguson on Mission:

  • “Applied Aerospace Defense exists to unleash advanced manufacturing supporting the defense industrial supply base... Decision Velocity is critical. We enable decisions to be made to build highly complex systems that operate in extreme environments.” (33:42)

• Key Insights:

  • Demand is “generational”—massive and urgent.
  • Serves both legacy defense contractors and newer space startups (SpaceX, Blue Origin), moving at different speeds.
  • Capable of scaling from startup phase to full-scale production—rare in the sector.

• Cramer’s Take:

  • “That is Trip Ferguson... It’s a good IPO. It’s an even better story.” (39:57)

---

7. The Real Use Case for AI: Analyst Reports & Productivity (43:43–47:33)

• Cramer’s AI Revelation:

  • Took a cue from Nvidia’s Jensen Huang by using ChatGPT to digest 19 bulging analyst reports on the SpaceX IPO.
  • AI summaries enabled ultra-fast, high-quality synthesis of bullish and skeptical arguments—saving a whole day’s reading.

• Notable AI-Surfaced Quotes:

  • “[SpaceX is] the apex of civilizational ambition.” – Deutsche Bank (46:05)
  • “King of the cosmos.” – Bank of America (46:11)
  • “Ambitions are bigger than any company... extends the light of consciousness to the stars.” – JP Morgan (46:16)
  • “No credible conventional model that can justify SpaceX’s $2T valuation.” – Moffett Nathanson (46:29)

• Cramer’s Bottom Line:

  • AI can dramatically boost productivity: “Nobody gets laid off for doing this exercise. We just get to make ourselves better, more productive and more useful at our jobs.” (47:24)

---

Notable Quotes & Moments

• On Market Rotations:

  • “The money that had been going into the Mag 7 got widely dispersed because it’s hot money and the people behind it wanted short term results.” (08:34)

• On Walmart:

  • “That world [of high oil prices] is gone, people. So shouldn’t we be getting more bullish on these stocks? YES, somehow Walmart shares keep going lower anyway.” (16:47)

• On Airlines:

  • “Unlike the old days, the airlines no longer aggressively expand their fleets when times are good, which always led to a vicious pricing backlash when times turned bad. That makes it much easier to own these airline stocks long term.” (29:31)

• On AI and Real-World Productivity:

  • “We just get to make ourselves better, better, more productive and more useful at our jobs.” (47:26)

---

Timestamps for Important Segments

• 01:01 – Jim sets up Samsung’s miss and the ripple effects in tech stocks
• 09:49 – First caller Q&A (Sonny, Pfizer)
• 14:56 – Walmart segment: “A quiet selloff in mega-caps”
• 23:34 – Deep dive: Airlines transformed (Delta, United)
• 33:20 – Applied Aerospace & Defense CEO interview
• 41:06 – Lightning Round with rapid-fire stock analysis
• 43:43 – Cramer on using AI to process SpaceX analyst reports

---

Summary Table: Key Stocks & Sectors Covered

| Sector | Stocks/Symbols | Cramer’s Take | |----------|------------------------------|-----------------------------------------------------------------------| | Tech | Samsung, SK Hynix, Micron, NVDA, MSFT, AMZN, META, GOOGL, AAPL | Short-term pain in hardware/data center; large-cap tech rebound | | Healthcare| Pfizer (PFE), JNJ, Cardinal | Cautious on Pfizer, positive on JNJ, Cardinal as defensive rotation | | Retail | Walmart (WMT), Costco | Walmart oversold; buy the pullback | | Airlines | Delta (DAL), United (UAL) | “Secular growth” thesis—buy leaders now | | Industrial| Honeywell (HON), CSX, UNP, Applied Aerospace (AADX) | Likes HON and rails, bullish on new IPO AADX | | AI/IPO | SpaceX (IPO) | Cramer: Consensus is bullish, but risk is high; AI summaries invaluable |

---

Tone and Language

Cramer is his usual fiery, rapid-fire self: confident, conversational, packed with analogies (“garden”, “pruning”, “walking dead” stocks), and never shy about calling out crowd psychology or Wall Street “malarkey”. He jokes with callers, expresses humility when a thesis goes wrong, and focuses any AI talk on how it can make his—and the listeners’—work more valuable, not on cost cuts.

---

Final Takeaways

• The episode portrays a turbulent, pivotal day in markets with big sector rotations, and Cramer urges investors to look beyond visible misses and not to panic-sell quality names.
• He makes a strong case for Walmart and a structural bull case for Delta and United Airlines, presents new opportunities in aerospace and defense, and shares a real productivity use-case for AI summarization.
• Cramer’s Core Message: Think for yourself, stay disciplined, and don’t let herd panic push you out of strong, long-term stories—even when markets shift suddenly.

Transcript

[Jim Cramer]

The board recommends approving regarding that seat on the committee, we're promoting quarterly earnings.

[Vanguard Announcer]

Every day, shareholders meet to discuss important matters about the companies you invest in. Now you can easily make your voice heard. Vanguard Investor Choice gives you a say in the companies you invest in. With just a few taps, you can set your proxy voting preference for your index funds. Visit vanguard.com investorchoice to learn more. Vanguard investors own shares of our index funds, which own shares of the companies they invest in. Available for Vanguard index funds that participate in Investor Choice. Vanguard Marketing Corporation Distributor when you're at

[Dell Commercial Announcer]

work, you never know when you'll be interrupted. But with the Dell Pro powered by Intel Core Ultra with vpro, no matter what distracts you, your laptop won't. It's battery optimized for the way you work. With built in intelligence that quiets distractions when you need to focus, your laptop will help keep you locked in even when it's bring your dog to work day. Built for those who stay in the flow. The Dell Pro built for you. Dell.com Dell Pro.

[Jim Cramer]

My mission is simple. 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 people, big friends. I'm just trying to make some money. But my job is not just education and not just to entertain, but to do some teaching. So call me 1873 CBC. Tweet me Jim Kramer. News flash. Sometimes stocks just go down if they're visible. High profile stocks, they can change people's minds about the rest of the market, usually for the worst. And if you don't know about that linkage, you're more likely to panic and sell some very, very stocks that were, I don't know, let's just say they were being pruned today. Hey, I put my tomatoes each week. I try to show them on letter X. They bear the most fruit. If you prune them, they don't do so well if you don't. On a not so hot day where The Dow declined 131 points, US be losing point 4 or 5%. Nasdaq telling 1.16%. Once again, we saw a wholesale change of the garden the market simply because one of the most visible stocks in the world went the wrong way after earnings. Sell, sell, sell, sell, sell. Now the stock in question doesn't trade here. Makes it a little harder. It isn't even American. It's a South Korean memory chip place called Samsung. And it's been an insane traders up more than 370% in the last 12 months and over 140% year to date. Okay, that's a good looking chart all right. But last night Samsung stock got crushed, falling over 9% after offering a preliminary quarterly report. That was superb, but not superb enough. Leaving questions about the durability of demand for their basic memory products. The ones are supposed to be in such short supply. Right. But put aside that Samsung has outperformed almost every stock in the world the last year. When you look at the booming South Korean market, only SK Hynix, the memory chip maker even comes close in terms of market capitalization. That stock goes up 700% in the last 12 months and over 230% year to date. So Samsung's no slouch. But that SK Hynix run is one for the agents. It allowed Hynix to become $1 trillion company like it's Samsung doppelganger. Now whenever you have a visible miss, no matter how slight, there is always going to be some nervous jittery shareholders of other companies who insist on extrapolating that weakness. If it's so visible, like the way that the climb was for a market winner like Samsung, they extrapolate it to their own portfolio and they don't necessarily do it right. And they don't have all those fancy computers that tell you what to do. See this thinking goes like this. Samsung makes products that are vital to the data center. We talk about data center all the time. If it misses expectations and it's got such demand from the data centers, then even very heightened expectations. Well wait a second. That means demand might be slackening. If demand is slackening in Korea, you can extrapolate that something must be rotten in America when the bears see this stuff, they went out at any cost and shorting the stocks and people get nervous. Okay, let's. And so down goes Micron. Right after reported incredible quarter which is now but forgotten, off goes G. Vernova which builds the linchpin that links power to the data center. Today it just got obliterated. Vertig makes power and cooling equipment for the data center. It may be weak. It could be weaker too for this even as we know the vert has been doing very well. Bang bang bang. Nasty. Western Digital, Sanders, Seagate, all club like baby seals, Caterpillar when it went through the same thing. Almost every stock connected to the physical part of the data center has come them the physical part. All the pin action from Samsung. The extrapolation didn't stop there. Included three favorites of mine. Kla Lammers, Applied Materials, all semiconductor equipment makers that just told us great things. They were in the back. They like the seven, eight, nine pins. Always fun. But none of those other facts about how well companies were doing still matter. Though you know something? I was last week because everything's out and superseded by last night's Samsung report. Why? Because now the thinking that goes that you don't want to be anywhere near these hardware stocks when the orders must be peaking for Samsung and the data centers build out is about to slow. Remember, I don't know if this is the narrative I'm telling. This is what the narrative that people are acting on. So money poured out of the less proprietary data center place, but it's where the money went that was most shocking. Three different places, one of and only one of it is pro se. The other two are kind of staggering. First, as I predicted yesterday, there's considerable amount of money going into the stocks of full immunity even ahead of earnings. And there's Johnson Johnson which shoved nearly eight bucks. Cardinal Health which soared another two bucks. PepsiCo gained a buck and a half. Don't forget there for Thursday. The defense has put on quite a show today. Of late and only of late, we've seen a remarkable move into what would have been considered more defensive software stocks before the advent of AI. I'm talking about Salesforce, Adobe and yes, ServiceNow. They don't have any shortages like tech hardware companies and suddenly, well, I got to tell you, ServiceNow has gotten, as we used to say, the business jiggy. All right. Hey, by the way, Adobe was up three and a half today. Someone took it from a hold to a sell. You don't get a, you know what a bottom looks like when some firm takes it to a holding a sell. The stock goes up 3. And I don't really like Adobe. Microsoft, such a hallowed stock usually trades with max 7 but lately it's traded with the defrocked enterprise software plays. I think these low prices were a gift and now we're finally getting a bounce. We are going to try to hold on to Microsoft for the charitable trust which you can follow by signing up for the CNBC investing club. But I've been in self flagellation mode about that stock. It's the fight, it's the final area, the third fund fund flows of funds that really astounded me. I'm talking about a gigantic amount of money flew into what's become the last place on earth that you want to put money. The hyperscalers. Yes, the dreading, daunted and dreadful hyperscalers. They've been acting like zombies, just walk around going nowhere. They've been a bit of see some money coming in. Amazon just did a $25 billion bond offering though I thought that was going to hurt the stock. It didn't. Maybe it was because they said they wouldn't do any more bond deals this year at least. Yes, I'm actually talking about money moving back into the walking dead. Amazon, Google, Metta. Yeah, well, I mean that's kind of what they look like to me. The latter defying the possibility of some big losses and lawsuits that would make social media the new tobacco. Apple hung in there despite scuttlebutt that the app store slowed in the most recent month. Something that bearish analysts always pick over and usually a lie. Even Nvidia managed to rally. Nvidia. Did you hear that? After the never ending drumbeat of customers value to minimize their Nvidia bills by designing their own chips, at one point the stock was down huge. Sometimes I wish you could just put all these moves into a Claude or Gemini, one of them and ask what's really going on here. Maybe you just have to though put it into me because I'm going to tell you, the Magic 7 have all had a miserable time of it for the better part of the year. Why? The reason today's action where the stocks are going up in the wild bunch are going down is precisely the correlation is eluded so many, including at times me. These are component players that are these that are soaring because we have shortages of many different semiconductors and they're hamstringing the whole tech industry. The money that had been going into the Mag 7 got widely dispersed because it's hot money and the people behind it wanted short term results. You couldn't get them with Amazon for example, things had gotten too expensive in the data center. Disproportionate amount of the pie going to companies that don't have a lot of intellectual property, including drams. Was today the day where we saw a shift back perhaps the great component trade is it over? Perhaps. Are people reverting to what they used? Like maybe will the components come down and price impacting customers more positively could happen? Or those companies budgets simply to distress, to stress? I don't know. The bottom line today kind of looked at least in the afternoon like the old days. But when we realized that you needed Nvidia chip to calculate things And Nvidia was the heart of the data center. When the stocks of Google and Met and Amazon had enough strength to carry the market, when Apple needed no one and was worried about commodity chip prices, they didn't have to worry about that back then. These commodity plays and their stocks somehow took over the market and they brought chaos with them. Is it over today? May have been one day a larger profit taking in those. Or maybe it wasn't. You know, it sure felt like a big change to me. I need to go to Sonny in Illinois, please. Sonny.

[Caller Sonny]

Hey, Jim. A big egg and berry booyah to you from Orland Park, Illinois, my longtime friend.

[Jim Cramer]

Doesn't get better than that. Thank you so much, Sonny. How can I help you?

[Caller Sonny]

Hey Jim, before I talk to you about my stock, I got to ask you a two part question. Did you break the waking up at 2:47am and if you did, how did you do so, my friend?

[Jim Cramer]

No, I didn't. I got up at 2:47 tonight and I got up to 40. I have a cough right now. And I looked and I said, oh my God, it's 2:47. And so right now I'm in 247 mode and I'm going to try to get out of it. I don't know what to do right now, but the 247 has just been the bane of my existence. You know, last week I said, Couldn't it be 248? Couldn't it just be one minute later? But it's been in my head now since, since college. What can I do? Hey, but maybe by this point there's nothing you can do. Anyway, that's my advice. But advice is there's nothing you can do.

[Caller Sonny]

It's been like 30 years.

[Jim Cramer]

Yeah, it's. No, actually been 40.

[Caller Howard]

Oh man.

[Caller Sonny]

Well, listen, I hope it gets better for you, my friend. Thank you. Before I talk to you about my stock, I want to give a huge shout out to your staff and especially Sean. He is a gentleman and a scholar.

[Jim Cramer]

Everyone loves Sean. I mean, like he should be out here as my co host. They've been. What vibes that guy generates. We love him. I'm actually in the mothership. I'm in Englewood Cliffs today. So I'm near that gang. And that gang is like the nicest people in the world. I can't curse around though. I can't say mean things. I can't pretend to be, you know, that I'm happy. I have to be happy with these guys. They're like happy people. It's really amazing.

[Caller Sonny]

You got great happy people staff, my friend.

[Jim Cramer]

Do it have happy people.

[Caller Sonny]

Well, good man. Let's get down to business. So I'm looking at a pharmaceutical company. You've had the CEO on your show several times over the past few years. Pays a high dividend down near the 52 week low. What do you think about Pfizer, Jim?

[Jim Cramer]

Okay. They do have earnings growth problems. They haven't been able to make the cgen acquisition work the way it should. The dividend is safe at 7%. I wish, I really wish I could be more positive. I just can't be. It kills me to say that a stock that yields 7 that used to have a lot of growth is going to have growth again. But I can't come up with where the growth is. I just can't.

[Caller Bill]

I'm sorry.

[Jim Cramer]

But thank you for the kind words. And how about Sean, huh? Hey, Mad Money with Sean and Kramer. All right, look, I think today felt like a real shift when it comes to tech stocks. Mag7 could be it could be a phantom, but it felt different. What's going on with the quiet sell off in Walmart? I'm investing, investigating what's behind the move downward and tell you whether I still believe in one of my favorite places to shop then. The airline industry is going through turbulence for years. But names are now starting to stand above the rest. I'm going to reveal them and how you can play this space. And I think it's different this time. I know it's supposed to be expensive words. That's not true. And Applied Aerospace Defense is one of the newest entrants to the public markets. I'm sitting down with the CEO to find out more about the company in the defense space. You will like this stock. You'll probably want to buy it tomorrow. David Kramer.

[Mad Money Announcer]

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

[Comcast Business Announcer]

Modern Enterprise is made up of a lot of moving parts. And Comcast business helps you orchestrate it all. With SD WAN working at scale to keep 150 hospital locations connected and working as one plus SASE and zero trust security protecting financial data across a bank's 2000 branches. And AI powered networking that optimizes traffic across five continents. No one does business like Comcast Business.

[EY Parthenon Announcer]

Did you know that Neuro Symbolic AI can help your business find new ways to make money. E.Y. parthenon is the only one offering this groundbreaking growth platform. Neurosymbolic AI analyzes hundreds of millions of data points to reveal new growth strategies. EY Parthenon teams deploy this innovation so you can uncover hidden value and scale beyond existing boundaries. Want to know what Neuro Symbolic AI can do for your business? Contact EY Parthenon today. Solutions that work in practice, not just on paper.

[Indeed Announcer]

When the right person joins a team, everything changes. Deadlines tighten, momentum builds, chaos settles down. That's why hiring Smart matters. Indeed Sponsored Jobs gets you quality candidates when you need them most. Spend less time searching and more time interviewing candidates who check all your boxes with Indeed Sponsored Jobs. Less stress, less time, more results. Listeners of this show will get a $75 sponsored job credit at Indeed.com podcast turn. Terms and conditions apply. Need to hire. This is a job for Indeed Sponsored Jobs.

[Jim Cramer]

Over the past few weeks there's been a quiet sell off in some of the largest companies in the entire market. You hear a lot about the beatdowns in big tech like I talked about at the top of the show. But you know what? This is really a mega cap problem. 11 of the 15 largest stocks in America are now down double digits from their 52 week highs. While a lot of that comes from selling a data center plays in order to raise cash for the space ex IPO. Well, it's not all tech. Take one I love forever. Take Walmart. Walmart's down nearly 18% from its recent highs. 18% when the stock peaked at 135 and change in mid May. It was a member of the trillion dollar club. Wasn't that for granted? The and two days later, Walmart reported this quarter, okay, so it was not well received. Stock fell 7% response since then. It just keeps drifting lower. I think you're getting an incredible buying opportunity here because the stock's been getting pummeled right as Wal Mart's biggest worries have started to fade away. Specifically, concerns about expensive oil in the state of the consumer. First, let's just, let's circle back to the original negative catalyst here. When the company reported mid May, this really wasn't a bad quarter, not by any stretch of the imagination. Wal Mart delivered better than expected revenues in line same store sales in line earnings. Okay, Martin's one, the softer side. But other than that, the results I'm calling fine. What tripped people up was the guidance. Wal Mart merely reiterated its full year forecast when the analysts were expecting them to Raise the numbers. And that's why the stock really got clobbered. At the same time, their guidance for the current quarter was flat out weaker than expected. Does that justify though the stock's 18% pullback from its May highs? No, not at all. Wal Mart shares got slammed because sentiment just got so ugly. People worried about higher fuel costs putting the squeeze on consumers. Managers seem proud of the fact that they were able to reiterate their forecast despite a dismal backdrop. But investors were very worried about the impact high gas prices could have. And the conventional wisdom on Wall street assumed that we're looking at a nightmare for environment for the consumer. And they were defying that nightmare. So when Wal Mart reports an okay quarter with some perfections with a higher price journeys multiple than we are used to, those numbers look extremely ugly. Downright bearish. Don't buy, don't buy, don't buy. Man. If you were worried that Wal Mart was about to suffer from an oil induced slowdown in consumer spending, that whole story, it has gone out the window, people. Over the past few weeks, thanks to our government's diplomacy with Iran, the price of West Texas Intermediate has fallen from 110 in mid May to the low 70s today. You know, traded down to 68 last night. Meanwhile, the national average price for gasoline has fallen from $4.56 on May 21, the exact day that Wal Mart reported, to just 379 today, according to Triple A. There are some categories of gasoline, typically jet fuel, that haven't come yet. Enough that will happen, people. Six weeks ago, everybody was terrified that Wal Mart and many other retailers would be laid to waste in a world where consumers had to spend fortunes at the pump. That world is gone, people. So shouldn't we be getting more bullish on these stocks? Yes, somehow Wal Mart shares keep going lower anyway. I mean, take a look. I'm going to get over here. Different studio mine. Don't mind my back. I got to figure this stuff out too. Just like you. Look at this. This is Wal Mart. This is not some blown up semiconductor stock. It's one of the greatest companies on earth. I now I know there are broader concerns about the state of the consumer. Wal Mart stock lurched lower yesterday along with the rest of the retail cohort, in part because we got a kind of a, you know, that labor report on Thursday, that was not that strong. But here too, I think Wall Street's jumping to the wrong darn conclusion. Wall street doesn't shop at Walmart and it doesn't know what's happening. It doesn't know. While consumers are struggling a bit, Walmart's going to be an ideal destination for shoppers all the way up to the $100,000 category. Okay. It's a trade downplay that people who are wealthier have discovered has a lot of incredible value. Go to your Walmart and you'll know what I mean. Go there. Look at what happened last night when President Trump posted on True Social that Wal Mart would be lowering prices by a lot to celebrate America's 250th birthday. Management later confirmed that they've been offering thousands of lower prices, mostly for food, beverages, outdoor living, toys and apparel. The stock jumped nicely in response because consumers are desperate for lower prices Walmart is giving them. I've gone over the pricing mechanism for so many different things. It's cheaper than everybody else's other than Costco. Finally, let's talk tariffs. Back in February, the Supreme's overturned the vast bulk of President Trump's tariffs and they ordered those payments refunded. When Wal Mart reported in May, their guidance didn't include any impact from those tariff refunds, even as they're working hard to make sure that most they get most of the money they can and most we're talking about less than a half a percent of the company's annual sales in America. But that's free money and I think a lot of analysts aren't baking into the numbers. The way I see it, okay, there's two potential outcomes here. First, Wal Mart could simply get a financial benefit from tariff refunds, which means upside surprise because not in the numbers. Second, and more likely, the company could use any benefit from tariff refunds to lean into further savings for its consumers, basically passing the tariff refunds on to their shoppers. That would be the Wal Mart ethos that I know. In fact, that's what Wal Mart basically said it would do on the last conference call. CFO John David Rainey, old friend of our show, says that the single best investment they can make right now, and I agree with them helping you in the end, Wal Mart sold off hard like many other mega caps over the past month and a half really. And I think the carnage has gotten ahead of itself. If you were worried about the state of the consumer in a high oil environment, you need to reassess your opinion. Now that we're back in a medium low environment going I think much lower somehow Walmart stock hasn't gotten an ounce of credit. Maybe the P multiples too. I, I do not know. But I think you've got a great setup for the consumer and for Wal Mart. Here's the bottom line. While Wal Mart's latest quarter. Okay, it wasn't perfect. So what? That's why the stock's down a lot. Was bad enough to justify the stock subsequent 18% decline. No, again, I think a lot of the weakness here comes down to the sense of Malays created by super high oil prices. And Walmart stocks should get a reprieve now that oil's back down to reasonable levels. That's why I think Wal Mart's worth buying right here, right now into weakness. Especially if you missed out on that fantastic rally over the past couple of years. Mad Money is back after the break.

[Mad Money Announcer]

Coming up with airline stocks taking off, Kramer's zeroing in on two top names poised to reach new heights. Next

[Pacific Life Announcer]

Confidence. It's listening to your gut. It's moving forward even when the path ahead is unclear. For nearly 160 years, Pacific Life has helped people keep their promises, building confidence for generations. Whether you're confident in your financial future or just beginning to envision it, we're here to help. Ask a financial professional how Pacific Life the Power of a Promise Pacific Life Insurance Company Omaha, Nebraska and in New York, Pacific Life and Annuity, Phoenix, Arizona.

[99% Invisible Podcast Announcer]

A History of the United States and 100 Objects is a brand new podcast from 99% Invisible and BBC Studios. Each week we're looking at a different object from across American history with a unique story to tell about who we've been, what we've built and what we've allowed ourselves to forget. Some of these objects are well known, many are not, but all of them carry the story of how we got to this moment. Find a history of the United States and 100 objects on the 99% invisible feed. Wherever you get your podcasts with the

[Pacific Life Announcer]

Vifgard, Hytrulo, Eschart, Alpha and Hyaluronidase QVFC Pre filled Syringe Self injection is in your hands. It's your treatment routine. You set the time and same day each week. Take the pre filled syringe with you on vacation or have it handy for cozy staycations. For more information visit livevividly.com that's L I V E V D Y-V I-L-Y.com brought to you by Argenics.

[Jim Cramer]

All right. Ever since the war with Iran started winding down in May, the price of oil it has plunged and that's allowed the airline stocks to when you drill down. There's more to some of these airlines Rallies that cheap fuel. When you look at two stocks I'm going to talk about here, Delta Airlines, Airlines, I think there's something more structural going on because it sure looks like they've gotten off the cyclical roller coaster and become more consistent secular winners. Bye bye, bye, bye bye. Around 20 years ago, both Delta United were in bankruptcy proceedings. Look, in the old days the whole industry would collapse every decade or two. When you look at their charts you can see that for most of their existence these have been the textbook boom and bust stocks. They're prone to big rallies and big pullbacks. Yeah, I mean look, I just love this wall. I mean this is like so cool. You can see that goes down and go up and. Yeah, you know, I don't want you down 20%. That's not my style. Okay, but anyway, listen, the airline stocks had a limited, limited shelf life. How about that? Even when they were winning, you knew it was only amount of time before you found yourself in the house of demand would be strong, the airlines would raise prices, then demand would start to wane and we see aggressive price cutting, full on price wars. I mean we don't want full on price wars profits anyway. Earnings take a big hit, stocks sell off. It was tail as old as time. Even Warren Buffett got caught up in it. But in the past pandemic era, there have been some major structural changes to the industry that I think make it a much better place to do, to do business. And other than Philip, I don't hear it talked about. So we're talking about it tonight. See in recent years we've seen a wholesale removal of low end flights. The ultra low cost carriers have either gone under like Spirit Airlines or, or cut a ton of capacity like JetBlue. Southwest Airlines, meanwhile, another low cost carrier has become more disciplined, operate much more efficiently. Ever since activist Elliott Investment management got involved two years ago. the same time we've seen a lot more discipline from the airlines on pricing. Now this is something I pointed out last year. Early on in 2025, United said it was seeing flagging domestic demand. So they responded by cutting domestic flights that no longer made financial sense. Rather than cutting price, they just remove lower margin capacity. All the majors seem to be following this playbook and it's been a real boon for business. It really, really helps the price multiple. On top of that, high end carriers like the two I keep mentioning to you, Delta and United have made a conscious effort to focus on their premium offerings, their first class and premium economy tickets, business travel, higher price, overseas flights they also moved aggressively into new revenue streams like credit cards. Delta's got this very lucrative partnership with American Express that made up 13% of the revenue last year. Now when the war with Iran started in, the price of oil spiked, this whole group got pulverized. But those losses have been erased now that we're in peacemaking mode. With Delta Stock up nearly 28% for the year, United up almost 15%. They both set fresh all time highs last week. Well, many of your semiconductor stocks may have been clubbed. And look, when Delta reported in April, even though their earnings guidance took a big hit thanks to higher oil management, made it clear that they've made themselves a lot less hostage to the price of oil crude. And boy, I got to tell you, they're very convincing. As for the United Airlines, at an industry conference in late May, CEO Scott Kirby explained that his airline has been able to better deal with the quote curveballs that have come their way over the past couple of years thanks to big strategic changes. Later on he talked about structural, permanent and irreversible. Irreversible shifts in the airline industry in terms of winning customers over through brand loyalty revenue rather than reckless price cutting. This is a new world. Now as the second half of the year begins, we're going to have to see proof from these leading airlines that all this talk about improved strategy and more resilient businesses is actually paying off. Delta, United both offered weaker than expected forecast the second quarter because at that time the price of oil going through the roof, people go even higher. I think they can beat those low forecasts the next time that we hear them. Oil's coming down now. I know. Just be sure. Jet fuel is not down enough yet, but maybe we'll hear something about that. Delta which reports on Friday morning. But here's why this is exciting. If it's true that Delta United are becoming secular growth winners and not just boom and bust cyclical stocks like they've been considered for years, then you're going to start to see these stocks get re rated higher. Phony Wall street term meaning that investors will start to pay more for the same earnings in their words. In other words, secular stocks, secular growth tend to get a higher price earnings ratio than cyclical stocks because Wall street will pay up for consistency. Currently Delta trades at just under 15 times this year earnings estimates. United tells about 13 times this year's numbers. Those are the types of multiples that you'll see for high quality cycle names. Hey, these things used to be traded at mid single digits because people didn't trust them. That's the P. E. But in Delta and United, you can. I can tell you they've become true secular growth winners. You could see their multiples expand toward the average stock in the S&P 500, which is 22 times earnings. On top of that, as we start to look beyond 2026, we see that without the fuel headwinds, both these companies are expected to grow significantly. According to current consensus estimates, Delta expected To earn around $6 per share this year. But you know what? That could go to 850 next year, maybe 10 bucks in 2028. You know, I expect to go from 10 and change of earnings per share this year to around 15 next year and 17 in 2020. If we're right about the secular growth thesis, that will happen. Here's the bottom line. The airline stocks have rebounded like crazy in recent weeks because oil prices have come down dramatically while demand for flights has remained strong. But longer term, I think the industry leaders like Delta, United are a lot less boom and bust than they used to be. It really did help to take out those other carriers. Unlike the old days, the airlines no longer aggressively expand their fleets when times are good, which always led to a vicious pricing backlash when times turned bad. That makes it much easier to own these airline stocks long term. As long as the industry stays disciplined. Maybe we catch a couple of days spike in oil. These come down, I say go buy these two best operators right here.

[Caller Bill]

Bye, bye.

[Caller Sonny]

Bye.

[Jim Cramer]

All right, you know what, let's. We're going to go for some calls here. Let's go to Bill. Oh, our friend Bill in Massachusetts. Bill.

[Caller Bill]

Hi, Jimbo. How are you, my friend?

[Jim Cramer]

Not bad at all, my friend. How are you? We're in our regular studio today from the old days. You're going to get a kick out of it, Bill. You'll like it.

[Caller Bill]

I love the club, Jimmy. I just love it. I just want you to know that.

[Jim Cramer]

Thank you.

[Caller Bill]

I wanted to ask you about Honeywell. We, we really did good on the split and I want to get a green light to get some more honey.

[Jim Cramer]

I want you. I'll tell you why. Dave Cody, who is my. I know it's not about friends, it's about money. Dave Cody is my friend. He put together the Honeywell that we see in Honeywell. A Honeywell Aerospace. And I think he put together the blue chip airline play, not Boeing, which we own for the Channel Trust. GE Aerospace is terrific and I love Larry Culp, but this company now run by Jim Currier is a winner. I Want to keep buying it for the trust. We don't have enough pure plays in aerospace and we just got one put together by the man who was one of the greatest CEOs of all time, Dave Cody. Let's go to Tim in Pennsylvania. Tim.

[Caller Bill]

Hey, Jim. How are we doing today?

[Jim Cramer]

I'm doing well, Tim. How are you?

[Caller Bill]

Not too bad. I wanted to talk to you about railroads. They've always struck me as a real economy infrastructure. Helping drive our economy. Moving freight, supporting manufacturing and connecting ports and keeping the supply chain running, which is what we usually aim for.

[Jim Cramer]

Correct.

[Caller Bill]

The stock has had. The stock in question has moved nicely recently and I'm not looking to chase it just yet. But I did want to get your opinion on it. Do you see CSX as a good long term investment?

[Jim Cramer]

Great long term investment. Steve Angel's running it. Remember how much money he made for us and Lindy? It was incredible. Jeff Marsh nailed that one. Steve Angel's the guy. I mean, look, I like Joe Henry who was before he was the railroad man of the year, but angel is doing it. $48. I think that stock you go to 60. I like the rails. Let me throw in Union Pacific. I like that one too. I look as long as the air. I just. I like transports with her. As long as the airline industry stays disciplined. And I'm telling you, I think it's going to. You can own a piece in this space. But let's make it either Delta or United, please. Much more man money at hand, including my exclusive with a new aerospace player on the block. Applied Aerospace and Defense. You're going to want to own this one then. There are a lot of use cases for AI that don't involve laying people off. I'm going to give you an example of one that just rescued my workday. And oil rapid fire. Tonight's edition of the Lightning Round. So stay with Kramer. Last month a company called Applied Aerospace and Defense came public to fairly limited fanfare. Although we told you we like this one and it's rallied a bit over the last couple of weeks. I think this is a terrific business. Applied Aerospace is basically an outsourced manufacturer for the aerospace defense industry at a time when we've learned we desperately need more drones, more missiles, more satellites. It's probably going to take years to restock after the War of Iran. Which is why we need all the help we can get. Meet it now. So let's take a closer look with Trip Ferguson. He's the CEO of Applied Aerospace and Defense. Lauren Moore.

[Trip Ferguson]

Bishop Ferguson.

[Jim Cramer]

Welcome to Money.

[Trip Ferguson]

Hey, thank you, Jim. Really, really happy to be here today.

[Jim Cramer]

Okay, so Trip, you know, we profiled your company and one of the reasons we did that is we just felt you were kind of the new contractor fast, not wedded to, to certain systems that may be out of date. Can you tell us about the ethos of your company because it resonates throughout all your documents?

[Trip Ferguson]

Yeah, absolutely, Jim. You know, Applied Aerospace Defense exists to unleash advanced manufacturing supporting the defense industrial supply base. We both support emerging innovators and the proven leaders. And we do it through a couple different kind of key data points. The first is Decision Velocity. We enable decisions to be made to build really high, highly complex systems that really operate in extreme environments for our customers. We also drive what we call innovation through IP enabled process. So we have decades of experience making really hard things. And when you have that experience, it drives the ability to take what might be a new design and really bring that forward faster and really meets the new threat environment. And that's what's changed today from the past. You know, looking, looking and saying it's going to take 10 to 20 years to build a really complex program. Hey, it's three to five years now. We have to adapt to that.

[Jim Cramer]

But you do both, you work both the old line defense primes and the newer space and defense companies. Tell us what it's like to work, to toggle between those two.

[Trip Ferguson]

It's actually, it's a lot of fun to start with, but you get the best of both worlds. So when you think of maybe the proven market leaders who move at a pace that really has been created over decades, we enable them to go faster, we enable them to operate more affordably and we offer expertise really in and around really complex manufacturing that maybe they don't want to do in house. And we do that really well. When you think of my friends that are really innovative, might wear maybe hoodies and really comfy T shirts, we really help them build at scale. So what makes Applied really unique today? We have the ability to be there day one and to be there at full scale production. And there's very few companies that can do that today. And that's why Applied is so positioned to capture demand today and prepare for what's coming in the future.

[Jim Cramer]

Do you think we can make drones as cheaply as the Iranians, Ukrainians?

[Trip Ferguson]

I do. I have a lot of confidence and a lot of faith and partnership within the American supply base. I see other leaders and other companies coming together. We not only need to be affordable, but we need to be able to make highly complex systems. So what's cheapest might not be best in all applications. So we need to do both really well.

[Jim Cramer]

Do you think that there's a possibility that Russia that. Look, there are forces right now, today that are making so that the Crimea may be lost by Russia? I mean, they're trying. Ukrainians are starving.

[Caller Bill]

It.

[Jim Cramer]

It's obvious that Russia is really stepping up the pace. Are you involved in trying to restock what they want or what NATO is doing?

[Trip Ferguson]

So Applied directly supports international, you know, governments through foreign military sales. So, short answer is yes. We currently operate here in America because the demand signal is so large, so we want to stay focused. And one of the things our leaders talk about is how do we meet America's need today. But the replenishment here and there are both very relevant, and we see it really as generational demand. This is a very unique time and everyone needs to come together and move quickly to address this demand signal.

[Jim Cramer]

Now, this is something people get. I mean, I don't usually like to talk politics in Washington, but it doesn't seem like that there. I think the defense budget percentage of the GDP is too low. I know that's going to. Half. Half the audience is going to hate me immediately, but it is. It is tracking a little lower than you would expect given the fact that the Department of War is engaged all over the globe.

[Trip Ferguson]

Well, I think right now the key is consistent funding.

[Jim Cramer]

Okay.

[Trip Ferguson]

We work with all the major primes. And so the nice thing about Applied is we have great visibility into our funding, which gives us a longer Runway before we feel the effects of some of those starts and stops.

[Jim Cramer]

Right.

[Trip Ferguson]

But right now, given the threat environment that we've seen in the world and instability, and really why Applied exists today, I personally believe that we need to move with a little bit more urgency.

[Jim Cramer]

Okay.

[Trip Ferguson]

To stay ahead of the curve. And now with the war in Iran, we need to replenish.

[Jim Cramer]

Okay. Well, are they, let's say the. What's. What's the level of urgency, say, for Blue Origin? I know you do some work for the satellites. Is that a different tempo?

[Trip Ferguson]

So the space economy as we've seen over the last month, it's pretty amazing. That.

[Jim Cramer]

Tell me the difference between that and. Well, I mean, that should be like what we should be like World War II footing right now. Maybe that's what space economy is.

[Trip Ferguson]

So the space economy moves at the pace of leaders willing to make decisions, and we see them making very quick, quick decisions. So we support both Space X and Blue Origin and NASA and we've been part of satellite programs for four decades. What we've seen recently though is really an urgency to develop that space economy and apply it is uniquely positioned at the epicenter of what's happening today. And I do wish that all of our addressable markets moved as fast as that market.

[Jim Cramer]

So it's real. We're dominant because we're smart and we're fast.

[Caller Bill]

Yes.

[Jim Cramer]

We get the best people. You get in great people from. Are you getting people from. From the Caltechs and from the Stanfords

[Trip Ferguson]

and we are, we are. So we recruit nationally.

[Jim Cramer]

Yeah.

[Trip Ferguson]

And I think we learned a lot over the last decade of the ability, if you have a great company culture that you encourage where folks are focused on their people but more importantly focused on the mission. And we want every team member and we want every person that comes to our company to know why they exist today and how they align to our business strategy and our customers mission. And you'll see where culture just parades throughout all of Applied every day it seems.

[Jim Cramer]

I mean, look, I have, I talk with the top people. Palantir, some. I don't you have a little bit of a different kind of personality from the guy who comes on tv. But I see it in them too. It's just a different pace. It's kind of the pace that I used to think America had. And you guys are bringing it back.

[Trip Ferguson]

Yeah, we do. And still here. So you know what, I would just tell everyone it really needs to have alignment, support of all of our leaders across our country.

[Jim Cramer]

Right.

[Trip Ferguson]

Everyone in industry and more importantly, you know, it's the heartbeat of America. We can do anything if we're supportive and we're all shoulder to shoulder. And that's what Applied is about. That's why we exist today. And that's why we, we felt the need that this business needed to go into the public markets today. Because we need great capital resources to invest internally, which is critically important and also be an acquirer of choice because smaller businesses today and the industrial base, they want to be part of a little bit of a bigger family in a forever home. And we're providing that to them.

[Jim Cramer]

Well, I have to tell you that you're even more enthusiastic and certainly more ready to roll than I thought when we did our piece. And we did our piece because we said the kind of IPOs we like are the ones that don't go up like a figma and then go down 85%. We like them like yours. Over time they're discovered, everybody is watching Gets a chance to buy. And you know what they should. That is. That is Trip Ferguson. He's the CEO of Applied Aerospace and Defense. The symbols aadx. It's a good ipo. It's an even better story. Thank you so much.

[Trip Ferguson]

Hey, thanks, Jim. Thanks for having me.

[Mad Money Announcer]

Coming up, he's the fastest mind on Wall street. So we're putting him to the test with your help. Bring on the lightning round next.

[Jim Cramer]

And then the lighting round is over. Are you ready? Ski, dad, tumble around. Keep it up. Start with Jack in Florida.

[Dell Commercial Announcer]

Jack.

[Caller Sonny]

Mr. Kramer. Yeah.

[Jim Cramer]

No, I appreciate you and the crew specifically. Rory helped me get on. He's the best in the business from what I can tell so far. What's happening?

[Caller Howard]

Yeah.

[Jim Cramer]

So I got a stock for you. You mentioned it maybe a little less than a month ago. Blowout earnings. It is Casey's general Casey Buy 10 shares. Buy 10 shares. That's what I tell my. If Pop were alive, I'd say pop buy 10 shares every three weeks. Okay, 10 shares. He'll buy like deep like 10 shares a year. But that was. All right. Let's go to Bill in Alabama. Bill. Hey, Jim. This is Bill Connor from Birmingham, Alabama. What should I do with my position in Skyworks? Look, I. I know they got that CEO. He's trying to turn it around. Someone has to to buy them and I don't know, it's at a 4 and 3/4% yield while you wait for someone to buy them. That's all I can tell you now. I'm going to Howard in Florida.

[Caller Howard]

Howard.

[Jim Cramer]

Hi, Jim. Hey, Howard.

[Caller Howard]

Thanks for. Thanks for taking my call. I just want to give a big thank you to you and your team for all your hard work.

[Jim Cramer]

Thank you very much. The team is very good. Teams get a lot of credit tonight. I know what the team said to make everybody, everybody say this thing. But I'm going to look into it closely after the show.

[Caller Howard]

Yeah, they. They forced me to do it.

[Jim Cramer]

That may be their game. How can I help?

[Caller Howard]

Yes. Yeah. A few months ago you profiled a company. It was a new issue. I like the story. I put on a small position because you said the it would. The lockup would end the end of July. A big supply may be coming out. However, I also see where. I think they did a secondary on Friday. And so now that there's a lot of stock out there.

[Jim Cramer]

What stock is it?

[Caller Howard]

It's forging.

[Jim Cramer]

Yes, they did that big stock offering. I'm not sure people expected there would be as many shares in that. I know they said it was oversubscribed. I would rather just focus on the fact that that I think the fundamentals are really gorgeous and I wouldn't mind owning some myself with a Chapel trust. And that, ladies and gentlemen, is the conclusion of the Lightning Round.

[Mad Money Announcer]

The Lightning Round is sponsored by Charles Schwab.

[Jim Cramer]

Many years ago is Nvidia Circumstances CEO Jensen Wong what he used AI for in his regular workday. Unhesitatingly he said he used AI to summarize the mountain of research reports he gets every day. Oh, I tried doing the same thing, but it didn't seem that informative to me. Now though, I'm wondering if that's because I didn't know how to write a good prompt. Today I finally learned what the heck Jensen was talking about. Today we got 19 analysts initiation reports on Space X, the biggest IPO of all time and suddenly those summaries are looking a lot more appealing. I had my young research assistant Zach Hodgkinson ask chat CBC to summarize all the reports, order them from the most popular, least popular, then give me an executive summary conclusion of what each of what the research is saying. Do you know? It was excellent Laid out the bookcase the base business is the dominant rocket launch platform plus Starlink plus early terrestrial AI. The upsides of full stack AI infrastructure and Orbital Compute play Putting them all together the streets bullshit Space X but the stock's currently valuation depends on hitting a series of difficult milestones. 18 out of 19 were very bullish with most of the price targets clustered in the 225 area. Although Raymond James the loan strong buy has a price target of $800 and the more circumspect Moffitt Nathan gives the neutral ready and $131 price target that's below where it is. You get a shorthand basis for each recommendation and a firm by firm scorecard. For example, here's how ChatGPT distilled rage a strong buy the $800 one quote defining industrial infrastructure company Starship unlocks transportation, communications, AI compute, manufacturing and energy long term market opportunity approaching $30 trillion all right, here's how they laid it out of Moffitt Davis's home balances all at launch monopoly and unknown unknowns against skepticism and total addressable market directed device orbital economics AI pricing durability evaluation in other words, they can say there's no credible conventional model that can justify SpaceX's $2 trillion valuation. Plus there's a real issue with Starlink that most of the other analysts gloss over. Direct to device works best for remote coverage, they said. But direct to consumer wireless requires spectrum terrestrial support and there can be geographies like whole big urban swaths where Starlink might not work that well. That isn't talked about. ChatGPT says the Moffat quote provides the clearest map of what could go wrong without dismissing what makes the company unique. End quote. The document tells you about a bunch of risk factors that make me think that some of these buys are weaker buys than people let on, but price targets don't lie. Now, it's all pretty dry stuff, but GPT has a sense of humor if you ask him to have one. I want to know the most salient points of excitement in each piece of research and it came up with some whoppers. Deutsche bank called SpaceX quote, the apex of civilization of civilizational ambition. Civilizational ambition and quote that's oh, and that's expressed in fire and steel. Bank of America calls it the king of the cosmos. JP Morgan says his ambitions are bigger than any company it's ever seen and extends, quote, the light of consciousness to the stars. Morgan Stanley says it can convert energy into intelligence at scale. Now you may say, wait a second, something sounds goofy with that quote or this observation. Well, you know what you can do then? You can go back and read the research itself and study it. The document put everything together in about seven minutes. It would have taken me the whole day to read all these pieces. The whole day. That's not a good use of my time. The efficiency gains are remarkable. And get this, nobody gets laid off for doing this exercise. We just get to make ourselves better, better, more productive and more useful at our jobs. I like to say there's always more. Some of my problems. Just for your money, I'm Jim Cramer. See you tomorrow.

[Mad Money Disclaimer]

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 forward/madmoneydisclaimer.

[Chase Sapphire Preferred Announcer]

This year's Girls trip to Telluride was the best we one upped ourselves with my Sapphire Preferred card. And with five times points on Chase Travel, please. As three times points on vacation homes with top brands, we got this incredible cabin.

[Jim Cramer]

It was a mansion.

[Chase Sapphire Preferred Announcer]

And with three times the points on dining, we ordered a wagyu steak dinner.

[Jim Cramer]

And that pistachio gelato was too good.

[Chase Sapphire Preferred Announcer]

So where should we go next year?

[Jim Cramer]

I've got ideas.

[Chase Sapphire Preferred Announcer]

Chase. Sapphire preferred the card that's preferred for a reason. Cards issued by JP Morgan, Chase bank and a member FDIC subject to credit approval terms apply.