Aug 17, 2026 · 43 min
Listen from 4:24
Listen at 4:24
Cramer weighs memory-stock momentum against market volatility
Mad Money w/ Jim Cramer 8/17/26
The episode tests whether investors can pursue strong individual companies without losing discipline as war, oil, rates, and valuations unsettle markets.
- 1Memory stocks are surging, but Cramer links the opportunity to strong margins, long-term agreements, and disciplined entry points.
- 2His stock-by-stock framework favors selective buying, gradual accumulation, and long-term fundamentals over chasing sharp price increases.
- 3Geopolitical uncertainty is keeping oil and interest rates elevated, complicating the case that the bull market can continue.
Don't miss
Cramer connects the memory-stock surge to a broader investing discipline: pair index funds with selected companies, buy gradually, and respect valuation.
The brief
Cramer opens with the memory-stock boom, pointing to Western Digital and Micron while arguing that investors should combine index funds with carefully chosen individual companies.
Across questions on Honeywell, Vertiv, Microsoft, Abbott, and Airbnb, the recurring tension is clear: strong businesses may deserve patience, but sharp rallies are not invitations to chase.
The homework blitz and lightning round turn that framework into specific calls, including Uber as a buyer, Tanger Outlets as an income stock, and gradual buying for Rockwell Automation.
The episode closes on the market’s larger problem: war-related uncertainty is blocking the lower oil prices and interest rates investors want, amplifying volatility without proving the bull market is over.
What was said on this episode
58 statements · 37 positive · 15 negative · 6 mixed
Memory and storage stocks have surged sharply year to date.
“Sandisk, it's up 653% year to date. Seagate has Gallup 261%. Micron's up 254%. And Western Digital's up 211%.”
Listen at 1:12
Data-center demand for memory products appears effectively endless.
“The demand for memberships has now become seemingly endless.”
Listen at 1:59
Memory manufacturers are limiting capacity to preserve shortages.
“They're not overbuilding this time. They want the shortage to last.”
Listen at 2:05
Memory manufacturers are building capacity primarily to match customer commitments.
“They're basically building only to suit.”
Listen at 2:25
Several memory companies prioritize buybacks over new production capacity.
“They're taking that money and sending it to you, the shareholder, rather than investing in new capacity.”
Listen at 2:47
Samsung is unlikely to add factories and flood memory supply soon.
“That could happen, but not anytime soon. Takes too long to build the factories.”
Listen at 4:24
The memory industry has structurally improved.
“I truly believe this industry has changed for the better.”
Listen at 4:52
Micron could double before the memory boom ends.
“I think Micron can double again before the boom comes to an end.”
Listen at 5:36
A data-center slowdown is not occurring.
“So there's no data center slowdown.”
Listen at 5:39
Memory overbuilding is unlikely in the near term.
“I can't see the overbuild happening any time soon.”
Listen at 6:41
Investors should consider owning a memory stock.
“So why not own one of the memory stocks?”
Listen at 6:44
Investors should review Cramer's Investing Club analysis of memory stocks.
“you ought to go play the replay.”
Listen at 6:48
Cramer recommends buying Cisco at current levels.
“I would buy Cisco right here”
Listen at 7:12
The data-center boom will convert many cyclical stocks into secular growth companies.
“this whole data center move has created a gold rush that will turn many formerly cyclical stocks into secular growth winners.”
Listen at 7:45
Investors should own at least one memory stock.
“Bottom line, I say own one.”
Listen at 8:25
Cramer would recommend Honeywell near a price of 220 after a downgrade.
“I say when another guy downgrades it and hits 220, that's when I'm going to tell you to buy it.”
Listen at 9:02
Cramer would buy Honeywell if it falls to $220 after a downgrade.
“when another guy downgrades it and hits 220, that's when I'm going to tell you to buy it.”
Listen at 9:03
Vertiv is expected to have a very strong year.
“I think that Vertib is going to have a very, very strong year”
Listen at 9:39
Vertiv has an exceptionally strong order book.
“I think the order book is incredibly solid.”
Listen at 9:46
Microsoft investors can take short-term profits after its price spike.
“short-term, you can take profits because the stock's up on a spike”
Listen at 10:07
Cramer believes he previously underestimated Microsoft.
“Longer-term, I think I've made a mistake”
Listen at 10:11
Microsoft's latest quarter warrants stronger support from Cramer.
“that quarter was so excellent that I really have had— I've had to change my view of being a soft supporter to being a stronger supporter.”
Listen at 10:13
Cramer has become a stronger long-term supporter of Microsoft.
“I've had to change my view of being a soft supporter to being a stronger supporter.”
Listen at 10:16
Abbott is undervalued at 20 times earnings and should be held.
“It's only 20 times earnings. That's still too cheap for Abbott. I would hold on.”
Listen at 11:10
Investors should continue holding Abbott shares.
“I would hold on.”
Listen at 11:12
Airbnb's growth has reaccelerated.
“Basically, Airbnb's growth is accelerating again.”
Listen at 13:46
AI may be highly beneficial to Airbnb.
“AI might be the best thing, not the worst thing, but the best thing that ever happened to Airbnb.”
Listen at 15:56
Airbnb hotel nights are growing roughly three times faster than its core lodging business.
“hotel nights are already growing roughly three times faster than the homeless business.”
Listen at 17:51
Airbnb is expanding into several travel-adjacent services.
“Airbnb is also expanding beyond accommodations with car rentals, grocery delivery, airport pickups, luggage storage, resort passes.”
Listen at 18:06
Investors should not chase Airbnb at its current valuation.
“I don't want to chase the stock when it's selling for 34 times earnings.”
Listen at 19:10
Investors may buy a small Airbnb position and wait for a pullback.
“Maybe you just buy a little and wait for a pullback.”
Listen at 19:15
Investors should sell Excel Services Holdings.
“So I think you're getting a terrific opportunity to sell, sell, sell this one and move on to something else.”
Listen at 21:02
Cramer prefers Expedia and Booking over MakeMyTrip.
“I'd much rather go with those two, especially the latter”
Listen at 21:57
Cramer advises against recommending unprofitable companies in this market.
“I don't like recommending unprofitable companies at this stage of the market where we're really high.”
Listen at 22:52
NVE Corporation's recent results justify cautious optimism.
“when I see these numbers, it's hard not to be cautiously optimistic, if not just optimistic.”
Listen at 24:03
NVE Corporation is a high-risk, high-reward investment.
“Just keep in mind, it's a high-risk, high-reward situation.”
Listen at 24:16
Cramer does not recommend investing in Ubiquiti.
“Overall, I'm not going to stick my neck out for these guys.”
Listen at 25:17
Ubiquiti is a less attractive network-equipment investment than alternatives.
“There are much easier ways to bet on network equipment than Ubiquiti”
Listen at 25:20
Cisco is a preferable lower-drama alternative to Ubiquiti.
“Cisco sure comes to mind.”
Listen at 25:26
NVE Corporation is interesting as a speculative investment.
“I think NVE Corporation, interesting for speculation.”
Listen at 25:36
Cramer would sell Excel Services Holdings after a rally.
“Excel Service Holdings is one that I'd sell in the strength.”
Listen at 25:43
MakeMyTrip and Ubiquiti are not worth their investment risk.
“make my trip in Ubiquiti. just don't seem worth the risk to me”
Listen at 25:47
Cramer recommends buying Uber.
“the answer is I am a buyer of the Uber, not a holder, not a seller.”
Listen at 33:32
Cramer recommends buying Uber.
“I am a buyer of the Uber, not a holder, not a seller.”
Listen at 33:33
Cramer recommends buying Tanger Outlets.
“I say buy.”
Listen at 34:12
Rockwell Automation is attractive as a long-term investment.
“I think it's a great long-term situation.”
Listen at 34:51
Rockwell is attractive long term but should be bought gradually.
“I think it's a great long-term situation. So I'm going to say it's a good idea, but don't buy it all at once because the stock is one ugly chart.”
Listen at 34:51
Investors should buy Rockwell Automation gradually rather than all at once.
“don't buy it all at once because the stock is one ugly chart.”
Listen at 34:55
Cramer approves Neurocrine because it is profitable.
“Because it's profitable, I'm going to say fine.”
Listen at 35:49
Cramer evaluates Neurocrine Biosciences as performing well.
“But I will say NeuroCream does a good job.”
Listen at 36:01
Lower oil prices and interest rates would benefit the stock market.
“We know what this market wants. Lower oil and lower interest rates.”
Listen at 38:06
War prevents oil prices and interest rates from falling.
“Lower oil and lower interest rates. But neither can happen as long as there is a war on.”
Listen at 38:08
Presidential threats against Iran cause oil prices to rise.
“Every time the president threatens, the Iranians test the threat. Every time he warns them about bombing, oil goes higher.”
Listen at 38:45
Higher oil prices mechanically push interest rates higher.
“When it sees oil goes higher, then axiomatically rates go higher.”
Listen at 39:17
Higher oil prices push bonds down and interest rates up through inflation.
“Bonds just plain go down and rates go higher because oil going higher is inflationary.”
Listen at 39:30
Excessive government borrowing could keep interest rates rising independently of Middle East events.
“If it's because the government's borrowing too much money, then rates will keep rising, regardless of what happens in the Middle East.”
Listen at 41:11
High oil and interest rates will make stocks decline more often than rise.
“With this combination, just get used to the stock market going the wrong way far more often than it goes higher”
Listen at 41:41
Persistent oil and Treasury pressures may make stocks decline more often than rise.
“just get used to the stock market going the wrong way far more often than it goes higher”
Listen at 41:43
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.
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