Dec 23, 2025 · 44 min
Cramer tests 2025 market calls against AI and real estate
Mad Money w/ Jim Cramer 12/22/25
The episode weighs which parts of Cramer’s 2025 outlook held up while contrasting speculative technology bets with durable logistics demand.
- 1Cramer finds cyclical semiconductor and memory stocks outperformed his AI-PC thesis and reshaped the technology review.
- 2He urges caution on speculative names, emphasizing short squeezes, balance sheets, position sizing, and taking profits.
- 3Prologis CEO Hamid Moghadam argues warehouse demand, data centers, and public markets retain long-term importance.
Don't miss
Hamid Moghadam’s closing argument that public markets remain a vital route for individuals to access leading businesses.
The brief
Cramer revisits his 2025 market questions, beginning with the 10-year Treasury yield and moving through sectors, consumer companies, technology, and individual stocks.
The technology review exposes a split: AI PCs and the PC refresh cycle disappointed, while cyclical semiconductor and memory stocks delivered exceptional gains.
Rivian becomes a case study in speculation as Cramer attributes part of its rise to a short squeeze and recommends taking some profits while keeping a remainder invested.
In the episode’s central interview, Prologis CEO Hamid Moghadam discusses warehouse demand, durable rent growth, data centers, capital spending, and the company’s compounding model.
Moghadam closes with a defense of public markets as an important way for individuals to access leading businesses despite private equity’s growth.
What was said on this episode
38 statements · 29 positive · 7 negative · 1 mixed · 1 neutral
Takeovers and acquisitions will strongly support bullish markets in 2026
“The cheap killer. takeovers and acquisitions. They're going to be an extraordinary force for the bulls in 2026.”
Listen at 0:52
OpenAI and Elon Musk may issue substantial new stock
“I also expect a very robust issuance here. with a few potential blockbuster deals, one from OpenAI and one from Elon Musk, flooding the zone, so to speak, with new stock.”
Listen at 2:20
Reduced stock supply leads to higher stock prices
“Tight supply means higher stock prices.”
Listen at 2:40
Netflix appears favored by Warner Bros. Discovery’s board unless Ellison raises his bid
“I think Netflix has the blessing of Time Warner board unless Ellison comes back with a huge amount of money.”
Listen at 4:32
Larry Ellison is personally guaranteeing $40.4 billion
“Larry's standing up for $40.4 billion, a personal guarantee.”
Listen at 4:54
The Janus Henderson transaction will inspire dozens of companies to go private in 2026
“I think this deal is the template for dozens of companies going private in 2026.”
Listen at 6:03
A 64% premium is an appropriate price for UniFirst
“Frankly, I think a 64 percent premium seems to me. to be the right price.”
Listen at 7:25
Stanley Black & Decker’s aerospace sale benefits shareholders and repairs its balance sheet
“This is a terrific deal for Stanley Black & Decker shareholders because that company needs to repair its balance sheet”
Listen at 7:43
Cramer may sell the remainder of his Costco position
“I am concerned I might sell the rest.”
Listen at 9:07
Investors should buy more Home Depot
“Yes, I would buy more.”
Listen at 9:33
The Federal Reserve will cut interest rates dramatically
“They're going to cut rates and cut rates dramatically.”
Listen at 9:44
Home Depot is the best stock for benefiting from a housing recovery
“you have to be in Home Depot for that because it's the single best way to play a turnaround in housing.”
Listen at 9:46
The Trump administration has generally benefited stocks
“The Trump administration has overall been just fine for stocks.”
Listen at 13:42
Immediate capital-expensing provisions could substantially increase earnings
“It could boost earnings dramatically”
Listen at 14:37
Capital One is likely to have an exceptionally strong 2026
“I think it's going to be a monster year in 2026 for these guys.”
Listen at 19:23
Packaged-food stocks failed to overcome GLP-1 concerns and remain among the market’s worst groups
“the answer is a plain no. Package Foods is really one of the worst cohorts in the entire market.”
Listen at 21:19
Investors seeking energy exposure should prefer pipeline companies
“If you want energy exposure, I suggest the pipelines”
Listen at 22:09
Real estate needs lower rates to recover
“We need more relief from the Fed and the bond market if real estate is going to make a comeback.”
Listen at 22:58
Rivian investors should take partial profits and retain the remainder
“I want you to take some off the table and then let the rest run”
Listen at 25:27
More selective AI infrastructure spending will ultimately benefit markets
“I think this new, more discerning phase will ultimately be positive for the market”
Listen at 26:59
The PC refresh thesis failed
“The PC refresh thesis, it was a bust.”
Listen at 28:07
Memory-chip stocks can continue rising strongly
“these can keep booming.”
Listen at 28:42
IBM should still be bought
“it still should be bought.”
Listen at 29:27
Cybersecurity will remain a powerful secular growth theme in 2026
“I still believe this is a powerful secular growth story for 2026”
Listen at 29:48
CrowdStrike is the preferred cybersecurity company, ahead of Palo Alto Networks
“I still think that's Palo Alto, but more importantly, it's CrowdStrike.”
Listen at 29:59
Waymo remains the autonomous-vehicle market leader
“Waymo's clearly still the market leader.”
Listen at 30:17
Waymo is currently most likely to win the robotaxi market
“I think right now it's Waymo to win.”
Listen at 30:54
Investors should own Apple rather than trade it
“Apple own it. Don't trade it.”
Listen at 31:11
Investors should own NVIDIA rather than trade it
“NVIDIA, I say own it, don't trade it.”
Listen at 31:34
Cryptocurrency remains useful as a portfolio hedge
“I still like crypto as a hedge”
Listen at 32:19
Network Appliance holders should trim their positions
“I wouldn't mind if you trimmed some and gotten some more exciting stocks.”
Listen at 33:20
Rubrik has an excellent growth trajectory
“I can't say enough about how great the trajectory of this company is.”
Listen at 33:52
Cramer rejects oil and gas stocks for recommendation
“No, oil and gas is just a flat-out no on this show.”
Listen at 34:44
Fubo’s stock price is too high to justify additional buying
“FUBU's had a big run. And I don't think there's any need to pile on at this price. I think it's just too high.”
Listen at 35:51
Data centers will become a significant investable real-estate category within ten years
“will data centers be a pretty significant investable aspect of the real estate universe i would say absolutely”
Listen at 40:16
Demand for data centers will grow
“Will demand grow? For sure.”
Listen at 40:34
Prologis’s track record will differentiate it in data-center development
“having a 40-year track record of performing for big global customers is going to be a differentiator.”
Listen at 41:40
Public markets provide individuals excellent access to leading businesses
“the public markets are an excellent way for individuals to gain exposure to the best businesses in the world.”
Listen at 42:36
Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.
Books & mentions
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