Oct 24, 2025 · 44 min
Cramer weighs earnings risks across speculative and defensive stocks
Mad Money w/ Jim Cramer 10/24/25
With earnings season approaching, Cramer connects inflation, supply constraints and investor risk appetite to portfolio construction across sharply different sectors.
- 1Cramer sees benign inflation and limited macroeconomic news making company earnings especially important for the coming week.
- 2He distinguishes established holdings from speculative bets, weighing risk levels across technology, energy, pharmaceuticals, uranium and digital assets.
- 3The discussion links tightened supply to stronger earnings surprises while repeatedly emphasizing diversification and appropriate portfolio risk.
Don't miss
The portfolio reviews crystallize Cramer’s framework: one speculative position may fit, but the overall mix must match the investor’s risk level.
The brief
Jim Cramer opens with an earnings-season preview, arguing that benign inflation and limited macroeconomic news leave company results to carry unusual weight.
His stock-by-stock analysis moves from Berkshire Hathaway and consumer staples to Globant, cloud companies and Circle, testing whether growth prospects justify current risk.
Portfolio reviews sharpen the distinction between core holdings and speculation, with Tesla, Palantir, quantum computing and digital assets treated as positions requiring discipline.
The lightning round contrasts higher-risk opportunities with steadier income choices, including Apollo, energy stocks, MongoDB, Main Street Capital, Cameco and Vanda Pharmaceuticals.
Cramer closes by connecting supply constraints to stronger-than-expected earnings, reinforcing diversification as the episode’s practical organizing principle.
What was said on this episode
72 statements · 58 positive · 10 negative · 2 mixed · 2 neutral
The Federal Reserve will cut rates by 25 basis points next week.
“I think we'll get a quarter point rate cut.”
Listen at 1:37
Nucor is the world's best steelmaker.
“Nucor is the best steelmaker in the world”
Listen at 2:13
Nucor is unlikely to report a blowout quarter.
“I can't expect a blowout”
Listen at 2:20
UnitedHealth's billing investigations will be dismissed as non-major.
“I think they'll be dismissed as not major.”
Listen at 2:36
UPS could reach $100 after a good quarter or fall to $80 after a bad one.
“A good quarter takes this $87 stock to $100. A bad one takes it right back to $80.”
Listen at 3:24
VF Corp will offset its weak prior quarter with terrific upcoming results.
“I think the last quarter, which was not up to stuff, will be put to bed by a terrific set of numbers”
Listen at 3:50
Visa will meet or exceed expectations again.
“This is a company that never misses, and I bet they won't miss this time.”
Listen at 4:06
Visa will not miss expectations in its upcoming report.
“I bet they won't miss this time.”
Listen at 4:08
Seagate is supply constrained.
“the stock of Seagate. Yes, the disc drive company, which is supply constrained.”
Listen at 4:20
Caterpillar's stock may have risen too far.
“I fear its stock has moved up too much”
Listen at 4:45
Boeing will report restrained positives that lift its stock.
“should offer a restrained set of positives that will get the stock moving higher”
Listen at 4:59
Starbucks results may disappoint elevated expectations.
“I think that could be a little strongly expected”
Listen at 5:21
Alphabet will report a monster quarter led by YouTube, Search, and Waymo.
“Alpha will report a monster quarter led by YouTube, then Search, and then Waymo.”
Listen at 5:31
Microsoft will repeat its prior best-in-class hyperscaler quarter.
“I expect a repeat from this company.”
Listen at 5:41
Meta continues delivering strong quarterly results.
“Meta's Mark Zuckerberg keeps finding ways to deliver great quarter after great quarter”
Listen at 5:43
Chipotle's upcoming quarter may determine whether it remains a growth company.
“this quarter seems, maybe it's make or break in terms of maintaining the company's growth status.”
Listen at 6:01
ServiceNow will deliver the week's best quarterly results.
“My nomination for the best quarter this whole entire week? ServiceNow.”
Listen at 6:08
Bill McDermott is the market's most successful non-mega-cap CEO.
“Bill's quietly become the most successful non-mega-cap CEO in the entire market.”
Listen at 6:24
Carvana will substantially beat expectations in its report.
“the heavily shorted Carvana... We'll blow the doors off on reports Wednesday night.”
Listen at 6:33
Investors should own Agnico Eagle because of its low finding costs.
“Own Agnico Eagle, which is incredibly low finding costs.”
Listen at 6:44
Mastercard will report strong results.
“Mastercard's going to be great.”
Listen at 6:56
Eli Lilly stock will fall into the $700s without new Zepbound use or pill timing.
“the stock's going to pull back to the 700s from its current 825 level.”
Listen at 7:09
Amazon needs AWS growth to accelerate from high teens to low twenties for a rally.
“the stock, which has been the least of the magnificent of the Magnificent Seven, needs to see Amazon web services grow from high teens to the low 20s”
Listen at 7:29
Apple should present a favorable multi-year growth story.
“Apple should have a good multi-year story to tell.”
Listen at 7:56
Investors should own Apple rather than trade it.
“Own Apple, don't trade it.”
Listen at 8:01
Chevron and Exxon are linked to crude oil prices.
“Two laggers that are linked to the price of crude”
Listen at 8:13
Berkshire Hathaway has outperformed the S&P 500.
“How about if someone said, why not just own Berkshire Hathaway? They did a heck of a lot better.”
Listen at 9:30
AppLovin is a winning investment.
“Aplovin is a winner.”
Listen at 9:59
Consumer packaged-goods stocks have likely bottomed.
“Now, maybe it's just kind of bottom, but it's a bottom.”
Listen at 12:03
Procter & Gamble is unmatched in scale, portfolio breadth, and science.
“Procter's basically unmatched in its scale and the range of its portfolio and the science, too.”
Listen at 12:54
Investors should buy Procter & Gamble.
“Procter is the one to buy.”
Listen at 13:32
Procter & Gamble gains market share through product differentiation.
“the company's able to set its products apart, taking market share”
Listen at 15:31
Procter & Gamble may be the best way to invest in a staples recovery.
“Procter & Gamble might be the best way to go.”
Listen at 17:40
Current AI is especially capable at writing software code.
“the rise of artificial intelligence. There are very few things that current AI can do better than a well-trained human. But the one thing it's terrific at is writing software code.”
Listen at 20:32
Improving AI will intensify competition for software-development firms.
“as AI gets smarter and starts reasoning, I think it's only going to be more difficult, really competitive for these guys.”
Listen at 20:56
Globant has become a no-growth company.
“this has become a no-growth company.”
Listen at 22:54
Another Globant forecast cut would make its valuation look more expensive.
“If Globan cuts its forecast again, suddenly it's going to look a lot more expensive on an earnings basis.”
Listen at 23:07
Generative AI, not Argentina, is driving Globant's weakness.
“The weakness here has nothing to do with Argentina and everything to do with the fact that generative AI is eating these guys alive.”
Listen at 24:24
Cramer does not recommend Globant.
“I can't bring myself to recommend this one”
Listen at 24:31
The proposed acquisition would benefit the unnamed Neocloud company.
“I do think that the acquisition would be better than not.”
Listen at 25:35
Circle will become a large company.
“Circle is going to be a big company.”
Listen at 26:18
Circle Internet may be a good way to invest in digital assets.
“I think Circle Internet may be the right way to go.”
Listen at 26:37
Cramer approves Leslie's diversified portfolio.
“I am blessing what Leslie's giving us”
Listen at 28:47
Investors should retain Palantir in the portfolio.
“Let's keep Palantir.”
Listen at 29:39
Tesla should be viewed primarily as a robotics company, not a car company.
“Tesla as robots, no longer thinking cars”
Listen at 30:11
The aggressive portfolio is likely to generate substantial gains.
“he's going to be eating money for lunch.”
Listen at 30:23
Valero will perform strongly as refining margins remain favorable.
“I think Valero is going to work big.”
Listen at 31:20
AbbVie stock will reach $250.
“I think it goes to 250.”
Listen at 31:26
Walmart stock will return to $110 when it reports.
“Walmart goes back to 110 when they report.”
Listen at 31:28
Microsoft will report a great quarter.
“I think Microsoft has a great quarter.”
Listen at 31:46
Meta will report a terrific quarter.
“I think. has a terrific quarter.”
Listen at 31:48
D-Wave is the best quantum stock among those studied.
“That's the best of the quantums.”
Listen at 33:04
IBM and Google are the leading quantum-computing companies.
“the two real quantum kings are IBM and Google.”
Listen at 33:08
Chubb stock will reach $300.
“I think Chubb's going to $300.”
Listen at 33:28
Agnico Eagle will report much better results than Newmont.
“Agnico Eagle, when they report next week, I think they're going to be much, much better the new month.”
Listen at 33:32
Apollo is a tough negotiator in deals.
“they're very tough negotiators”
Listen at 34:56
National Fuel and Gas offers consistent performance.
“NFG has got consistency.”
Listen at 35:59
ServiceNow is currently preferred over MongoDB after MongoDB's rally.
“after this run, I'm thinking about... Service now. That's my favorite right now, Dave, not MongoDB.”
Listen at 36:45
Investors should avoid Main Street Capital because its holdings are unclear.
“You've got to line up in pump formation, honestly, because I have no idea what they really own.”
Listen at 37:39
Cameco is an established, high-quality uranium business rather than a speculative stock.
“Camco's not expected. It's just a business. It's a very good business”
Listen at 38:29
Investors can own Cameco.
“you can own that stock.”
Listen at 38:39
Vanda Pharmaceuticals is acceptable as one speculative portfolio holding.
“This is a spec, and it's absolutely like what I say in how to make money in any market. You can have a spec. I'm going to bless that one as your spec.”
Listen at 39:22
Product shortages enabled Intel to report better-than-expected earnings.
“These shortages are why Intel was able to report sharply better than expected earnings.”
Listen at 40:21
Supply constraints give companies the ability to raise prices.
“When you're supply constrained, you have the ability to raise prices”
Listen at 40:25
Sandisk, Western Digital, and Seagate have pricing power.
“All three have pricing power.”
Listen at 40:42
Micron's products are in short supply.
“I'm going to add Micron MU to the list of companies whose products are in short supply.”
Listen at 40:54
Tight supply can drive storage and semiconductor stocks higher for years.
“That allows these stocks to go higher for far longer than most investors expect.”
Listen at 40:58
AMD is supply constrained across much of its product line.
“AMD similarly supply constrained for much of its product line.”
Listen at 41:05
NVIDIA is the most supply-constrained company.
“NVIDIA is the most supply constraint of all.”
Listen at 41:23
GE Vernova and Boeing will benefit from aircraft and power-equipment demand.
“I think both G-Vernova and Boeing will be winners.”
Listen at 42:41
Gold is currently priced at $4,100 per ounce.
“with the precious metal now going for $4,100 an ounce”
Listen at 43:04
Excess demand over supply supports strong stock performance.
“we have more demand than supply in a host of industries, and that's the ticket for good stock performance.”
Listen at 43:29
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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