Mad Money w/ Jim Cramer – September 19, 2025

Overview

In this episode, Jim Cramer delivers his signature, high-energy take on the current state of the stock market, investor sentiment, and specific company performances. The show covers the surprisingly resilient market, the sustained skepticism from pros, sector rotation, analysis of FedEx and Darden’s latest earnings, action-packed listener Q&A, and a candid discussion on how companies are beginning to harness AI for profits.

Main Themes

• Market Resilience vs. Skepticism: The market continues to hit new highs despite persistent doubts and negativity from analysts and professionals.
• Sector Breadth and Rotations: Cramer highlights a broader rally beyond mega-caps, with banks, transports, tech, and utilities showing strength.
• “Speculative” Stocks and Investor Attitudes: He encourages listeners to embrace, rather than shun, speculation in a winning market.
• Earnings Takeaways: FedEx and Darden are under the microscope for performance amid challenging conditions.
• Opportunities Amid Pullbacks: Several favorite stocks and sectors presented as buy-on-dip opportunities.
• Listener Q&A: Stock-specific and broader investing advice in rapid-fire style.
• AI’s Real Business Benefits: Early signs that AI is beginning to drive profits outside of the chip sector.

Market Overview and Big Ideas

Bullish Market with Reluctant Bulls

• [01:39] Cramer notes that despite more record highs, skepticism prevails:

  "More record highs, more positives, more money made. And yet another week where the markets hated just despise. ...all I heard were gripes."

• The rally, he says, has broadened considerably—beyond just the “Magnificent Seven.”
• Speculative sectors (like nuclear, quantum computing stocks) continue to surge, often against expert advice:

  "Even if those future gains might not go to quantum stocks that are currently trading...the buyers don't care."

• Cramer urges engagement rather than resistance:

  "If ridiculously speculative stocks keep being winners, I say you should probably try to own one or two of them rather than fighting it."

• [04:38] Preview of the week’s agenda: U.S.–China talks, AutoZone, Micron, housing data, Cintas, KB Homes, Jabil, Costco, and the all-important PCE inflation data.

Key Segment Breakdowns

U.S.–China Relations and Market Catalysts

• [05:01] Cramer suspects the China–US presidential call was about much more than TikTok; expects weekend revelations to move stocks, especially in tech (e.g., Nvidia).

Earnings & Economic Data Outlook

Tuesday

• AutoZone [06:08]: "The most aggressive buyback on the NYSE." Profits from America’s aging car fleet.
• Micron [06:36]: Volatile, highly cyclical chipmaker—a “wait for a pullback” call given recent runs.

Wednesday

• Housing/New Home Sales [07:11]: "Until we get mortgage rates back...I don't think there's much hope..."
• Cintas [07:43]: "Could bring us an upside surprise."

Thursday

• Jabil [08:03]: Underappreciated, quietly strong tech manufacturer.
• Costco [08:44]: Overvalued, but Cramer’s willing to hold it for the trust: "It's hard to believe that Costco can fall higher from here, but I think maybe it can."

Friday

• PCE Inflation Data [09:01]: Vital to Fed’s rate decisions; cost pressures heavily tariff-related.

"[09:38] Bottom line: no matter what, we have to accept that this week brought still one more round of skepticism...as the vast majority...continue to denigrate a market despite the fact that it's made a huge amount of money."

Lightning Round – Listener Q&A Highlights

Visa: Blockchain vs. Stock Pullback

• [09:52] Robert from NY: Should you worry about blockchain threats to Visa?

  “That’s what’s called the opportunity...Periodically you get it at a good price and when you do, pull the trigger.” (10:18)

Adobe: Suffering Despite Market Highs

• [10:36] Sam from MA: Why is Adobe so weak?

  “Organic growth is what we want, not price.” (10:46)

FedEx: Breaking Down a Blowout Quarter

• [13:35] "FedEx blew away Wall Street’s expectations when it reported earnings last night."
• Despite a tough year and industry downgrades, the company beat revenue and earnings estimates.

  “They shot the lights out. These guys delivered a very healthy revenue beat...” (13:48)

• Key strengths:
  • Improved margin and cost controls (“Network 2.0”)
  • Taking market share (especially from UPS)
  • Staying nimble with tariff changes

“FedEx managed to blow away the numbers last night...I am cautiously optimistic that this one is not done and is going higher. Maybe much higher.” (19:19)

Darden Restaurants: Value vs. Cost Pressures

• [22:18] “What the heck just happened to the stock of Darden…?”
• Same-store sales at core brands (Olive Garden, Longhorn) were strong, but margins took a hit from beef and seafood inflation (due to tariffs, supply shocks).
• Cramer notes management is still guiding higher on revenues but must weather cost headwinds.
• Darden’s key advantage is value; steady traffic from all income levels, success with new menu items and delivery innovations (Uber Direct), and special promotions.

  “Darden’s benefited from the same trends that have helped insulate the broader casual dining spaces from challenges facing fast food.” (26:58)

“It’s a tough business, but I don’t want to give up on Darden stock, especially now that it’s sold all the way down here. 17 times earnings, 3.25% yield. You could certainly do a lot worse.” (28:46)

More Call-In Advice

• Wendy’s: Too risky, prefers McDonald’s (28:52)
• Pepsi: “It is bottoming...4% yield brings people in because it’s a safe yield.” (30:17)
• McDonald’s Dividend: “It’s a fantastic dividend...I think McDonald’s is a buy.” (31:01)

Investing Club: Behind the Scenes

• Waste Management (WM): Construction headwinds, but “I think it’s just plain out now a buy.” (33:10)
• Santander Bank: Wait for ~$9/share to buy. (34:10)
• Big Banks: All are strong, Wells Fargo best positioned now. Limit banking sector allocation. (35:50)
• Stocks for Teens: DoorDash, Robinhood, Reddit—buy with patience, in small increments. (37:10)
• Cruise Industry: Value appeal, not too sensitive to employment rates. Royal Caribbean is favorite. (37:45)
• Reinvesting Dividends: Always a good idea. (38:07)
• Tech High Fliers (Robinhood, SoFi, Reddit): Don’t chase; be content having taken profits. (38:50)
• Realty Income / Simon Property: Both attractive with rate cuts, great yields. (39:10)

Lightning Round Highlights

• CMS Energy: “I like Consumers Energy. I think it’s fine.” (40:12)
• Ramaco Resources (Coal): Wait for a pullback. (41:02)
• Accenture: “At 18 times earnings I’m willing to pull the trigger.” First bullish call in a while. (41:24)
• Okta: Likes the sector but prefers Palo Alto for identity management. (41:54)
• Rocket Companies (Mortgage): Trade is likely played out; prefers Wells Fargo. (43:01)

AI’s Real Business Impact

• [43:16] “We’re starting to see some tangible evidence that artificial intelligence can genuinely raise numbers for companies. And it’s a welcome change.”
• FedEx is using AI for route and cost optimization—direct bottom line improvement.
• Apple’s new iPhone is packed with AI, especially in the camera features.
• Salesforce’s AI portfolio is growing; expected to showcase real AI use cases at Dreamforce.
• CrowdStrike’s cybersecurity advantage is AI-powered.
• Banks and legal/accounting professions are cautious on AI due to risk of errors, but next-gen chips may change the game soon.

  “It’s finally going to happen. You’re going to trust the machine over the human.” (47:07)

• Cramer urges patience as AI’s business benefits begin to be realized in hard numbers.

Notable Quotes

• “Perhaps the only thing that’s crazy is the way so many people seem to despise making money in this market, except right here in Cramerica.” (03:37)
• “If ridiculously speculative stocks keep being winners, I say you should probably try to own one or two of them rather than fighting it the whole way.” (04:02)
• "FedEx managed to blow away the numbers last night. ... I am cautiously optimistic that this one is not done and is going higher. Maybe much higher." (19:19)
• “I think McDonald’s is a buy. ... as a treat, I still go had it last week. Can't beat it.” (31:01)
• “We're starting to see some tangible evidence that artificial intelligence can genuinely raise numbers for companies. … It’s a welcome change.” (43:16)
• “It’s finally going to happen. You’re going to trust the machine over the human. … It’s coming.” (47:07)

Timestamps for Key Segments

• 1:39 – Market rant: “The rally ... is now amazingly broad.”
• 9:52 – Lightning Round: Calls on Visa and Adobe.
• 13:35 – FedEx Earnings Deep Dive
• 22:18 – Darden Restaurant Earnings Analysis
• 28:52 – McDonald’s, Pepsi, Wendy’s, etc. Q&A
• 33:10 – Investing Club Q&A (stocks, strategies for kids, cruise/O, etc)
• 39:40 – Lightning Round (CMS Energy, Accenture, Okta, etc.)
• 43:16 – Companies Profiting from AI

Conclusion

Cramer’s advice this episode: Don’t get stuck in negativity or miss out on opportunities simply because the market feels “frothy.” From “speculation done wisely” to embracing the inevitable AI shift, investors should stay nimble, be disciplined with risk, and seize both pullbacks and the benefits technology is about to deliver. The market may confound the skeptics, but for believers, rewards await.