Jan 24, 2026 · 44 min
Cramer weighs execution against speculation in a mixed market
Mad Money w/ Jim Cramer 1/23/26
The episode tests whether earnings, proven operations, and disciplined risk assessment can outweigh macro uncertainty and enthusiasm around emerging technologies.
- 1Cramer links Nebius’s risk to potential technology-spending cuts and demands clearer execution from speculative companies.
- 2Capital One’s pullback reflects merger and policy concerns, while CSX faces disappointing results, tariff pressure, and leadership questions.
- 3Memory-chip shortages support storage and semiconductor-equipment stocks but create pressure across related companies.
Don't miss
Cramer contrasts Oklo’s noncommercial status with established nuclear operators that have demonstrated the ability to build plants.
The brief
A mixed market session sets the frame: easing geopolitical concerns compete with tariff uncertainty and questions about whether major technology companies will keep spending.
Nebius becomes a test of execution as Cramer warns that technology-spending cuts could hurt AI infrastructure companies; Cardinal Health receives a more measured discussion.
Capital One’s pullback brings merger and policy concerns into focus, while CSX’s disappointing quarter, tariff pressure, and new leadership complicate its outlook.
Cramer’s Oklo view is blunt: established nuclear operators have demonstrated they can build plants, while Oklo remains noncommercial and speculative.
The Lightning Round compresses judgments on Nu Holdings, Arm Holdings, and Celestica before the show turns to shortages lifting memory and equipment stocks.
What was said on this episode
57 statements · 41 positive · 13 negative · 3 neutral
Investors should buy Nucor if its stock declines Monday.
“If the stock gets hit on Monday, you should be a buyer.”
Listen at 1:43
Boeing has begun a multiyear stock turnaround.
“this is the year one of a multi-year turn in the stock of Boeing.”
Listen at 1:58
Kimberly-Clark will report a better quarter.
“I think it's going to report a better quarter.”
Listen at 2:36
Seagate will deliver a massive earnings beat and raise.
“I think you get it.”
Listen at 3:11
Danaher may report its first truly strong quarter in years.
“this could be the first truly strong quarter in years.”
Listen at 3:39
Starbucks stock cannot keep rising without exceptionally strong results.
“The stock's wildly overbought here, which means it can't keep climbing unless the numbers are insanely strong.”
Listen at 3:58
Cramer favors Starbucks as a long-term holding.
“I do like it for the long haul”
Listen at 4:03
Investors should wait for a better entry point in GE Vernova.
“I think you need a better entry point.”
Listen at 4:33
Corning has excellent prospects.
“I think the prospects are terrific.”
Listen at 4:46
Generative AI pressure on Microsoft software is an unfounded concern.
“I think that's a false worry in this case.”
Listen at 5:09
Tesla stock will rise if its non-car narrative is established.
“The stock goes higher.”
Listen at 5:49
Tesla stock will surge if results define it as a non-car company.
“the stock's going to go sky high.”
Listen at 5:55
ServiceNow will be the week's most consequential report.
“I think it's going to be ServiceNow.”
Listen at 6:25
Cramer favors Caterpillar stock.
“I like the stock.”
Listen at 8:18
Investors should own Apple rather than trade it.
“I say own Apple, don't trade it.”
Listen at 8:46
Apple's decline may continue if it guides margins lower.
“it is reasonable to believe that the decline is not over.”
Listen at 8:51
SanDisk and Western Digital will report positively.
“They'll be very positive.”
Listen at 8:59
Cramer favors Chevron because of its buyback and dividend yield.
“I like Chevron with its big buyback and its 4% yield.”
Listen at 9:31
Nebius could halve if a Magnificent Seven company slows AI infrastructure construction.
“one of these MAG7 companies is going to say, you know what, we're going to slow down the building, and then Nebius is going to be cut in half.”
Listen at 10:12
“I can see that stock going to three. $100.”
Listen at 11:20
A 10% credit-card interest cap would damage the economy.
“it would indeed wreck the economy.”
Listen at 13:18
Capital One's pullback creates a buying opportunity.
“I think that you are now getting a buying opportunity”
Listen at 13:39
Capital One's core business is strong and Discover integration is on plan.
“the core business is doing very well, and the integration of Discover is proceeding as planned.”
Listen at 15:18
Capital One's Brex acquisition expands its challenge to American Express.
“this is yet another move from Capital One to, yes, take on American Express.”
Listen at 16:25
Capital One could reach $330 if its valuation gap halves.
“That would make this a $330 stock.”
Listen at 18:40
Capital One will fall to a buyable level, probably Monday.
“I think it's finally going to come back down to where you can buy it again, probably on Monday.”
Listen at 18:54
CSX represents an excellent buying opportunity.
“I think CSX represents an excellent buying opportunity”
Listen at 26:24
CSX could be a major winner if economic growth accelerates.
“I think it is going to be a big winner if the economy actually picks up steam.”
Listen at 26:43
CSX's new leadership will succeed.
“I think it's going to work.”
Listen at 27:03
Investors should wait for Dover's January 29 earnings before judging it.
“we have to wait until the 29th for the quarter before we opine on it.”
Listen at 27:46
Cramer recommends selling Oklo.
“I've been saying sell it.”
Listen at 28:43
GE Vernova knows how to build a nuclear plant.
“Chief Ibernova knows how to build a plant.”
Listen at 29:00
Oklo is not yet a commercial enterprise.
“O-K-L-O is not a commercial enterprise. Period.”
Listen at 29:07
Investors should use limit orders instead of market orders.
“You use what I call limit orders, OK, not market.”
Listen at 30:41
Investors should buy Netflix.
“you should be a buyer of Netflix here.”
Listen at 31:21
Banks will benefit from AI-driven efficiency improvements.
“That's going to be the banks.”
Listen at 31:36
Wells Fargo has the best handle on AI among banks.
“the one that I think has the best handle on it is Wells Fargo.”
Listen at 31:39
Investors should generally reinvest dividends.
“We always reinvest.”
Listen at 31:53
AutoZone is a suitable point to reenter.
“I think this is where you can get back in.”
Listen at 33:19
Cramer finds few attractive individual small-cap stocks.
“I see very little that I really like.”
Listen at 33:39
Most chip and related stocks are secular rather than cyclical.
“They are not cyclical.”
Listen at 34:07
NXP, ON Semiconductor, and Texas Instruments are cyclical stocks.
“NXPI is cyclical. On Semi is cyclical. Texas Instruments is cyclical.”
Listen at 34:10
Cramer favors AeroVironment and Lockheed Martin.
“I liked AV, which is air environment. I like Lockheed Martin.”
Listen at 34:34
Cramer wants Caterpillar stock to decline before buying.
“I would like to see the stock lower.”
Listen at 35:15
Cummins is a better buy than Caterpillar currently.
“I do prefer right here Cummins CMI. I think it represents a better buy.”
Listen at 35:26
Analysts raise targets after stocks move because they missed the earlier rise.
“That's usually because they've been left behind by the stock and didn't foresee the big move ahead.”
Listen at 37:01
Cramer dislikes Nu Holdings' high valuation multiple.
“I don't like a bank that has that big a price. There is multiple”
Listen at 37:43
Investors should buy Arm Holdings.
“I think you do buy the stock, and I think it's a great call”
Listen at 38:15
Investors should trim Celestica on Monday.
“Why don't you trim some on Monday?”
Listen at 38:42
Product shortages drive higher stock prices.
“This park's being driven by shortages. If your product's in short supply, your stock goes higher.”
Listen at 39:29
AMD rallied because it accounted for the CPU shortage.
“AMD, which rallied nicely today because they did factor in the shortage.”
Listen at 40:59
The semiconductor industry is healthy despite Intel's poor execution.
“The industry's in great shape. This is just one company with lackluster execution.”
Listen at 41:17
Intel remains a strong company.
“I think Intel is still a great company.”
Listen at 41:25
Lip-Bu Tan can fix Intel's problems.
“I do believe that LibBoo can fix what's ailing the company.”
Listen at 41:33
Investors seeking gold exposure should buy Agnico Eagle.
“I would buy an Agnico Eagle if I wanted to participate in it because they're the best miner.”
Listen at 43:01
Gold is the only effective inflation hedge.
“Only gold could.”
Listen at 43:15
Cryptocurrency is not an effective inflation hedge.
“Crypto turns out to not be a great inflation hedge.”
Listen at 43:22
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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