Jul 13, 2026 · 44 min
Cramer weighs tech momentum against legal and market risks
Mad Money w/ Jim Cramer 7/13/26
The episode tests whether enthusiasm for technology and financial stocks can withstand lawsuits, IPO volatility, and changing oil-price pressures.
- 1Technology stocks lead market strength, but Apple’s lawsuit against OpenAI adds a major legal and competitive fault line.
- 2Bending Spoons’ volatile debut raises questions about acquisition-led growth and whether its pullback creates an opportunity.
- 3Santander’s U.S. expansion and AI strategy show how banks are using scale and technology to compete for customers and returns.
Don't miss
Ana Botín explains how Santander plans to use the Webster combination and artificial intelligence to expand in the United States.
The brief
Cramer opens with a market still favoring technology, pointing to SK Hynix, memory stocks, and semiconductors before urging caution around bullish calls that may outrun confirmation.
Apple’s lawsuit against OpenAI becomes a broader test of the AI industry’s legal and recruiting tensions, while Bending Spoons’ sharp IPO reversal challenges the appeal of acquisition-led growth.
Santander executive chair Ana Botín discusses the Webster combination, U.S. expansion, customer growth, and AI tools designed to personalize service and improve shareholder returns.
The lightning round shifts from Duolingo and speculative aerospace-related exposure to oil-sensitive sectors, retail bargains, airlines, and aerospace stocks facing higher fuel costs.
The episode’s recurring discipline is patience: after Sienna’s pullback and Bending Spoons’ decline, Cramer favors waiting for confirmation instead of calling an exact bottom.
What was said on this episode
44 statements · 32 positive · 8 negative · 2 mixed · 2 neutral
Investors should not chase oil-related winners for the long term.
“I don't think you should chase today's winners long term.”
Listen at 0:53
Technology stocks are robust and near a buying zone after their decline.
“the sector that is tech is wonderfully robust versus other groups, and it's just been clobbered back to where I think is very near the buying zone again.”
Listen at 1:15
Technology stocks should perform well despite Iran-related risks.
“Despite Iran, wonderful things should happen to tech.”
Listen at 1:26
Meta needs to monetize excess computing capacity by selling some of it.
“They have to sell some of that compute.”
Listen at 1:51
The memory shortage may persist until 2020.
“it might not change until 2020.”
Listen at 2:49
The Solstice acquisition of Element Solutions will ultimately be beneficial.
“Now, ultimately, I think it would be a good deal.”
Listen at 3:26
NVIDIA stock is unlikely to rise without a substantially more aggressive buyback.
“Can the stock go higher? No, actually, I don't think so. Not unless the company dramatically expands the size of its buyback and gets much more aggressive.”
Listen at 4:17
Separating and partially floating Waymo could substantially increase Alphabet’s stock price.
“If it were announced tomorrow that Waymo would be a separate company and it would float a piece of it to get started, well, you know what? Who knows how high this stock would go?”
Listen at 6:32
Waymo leads Tesla in self-driving trials and data.
“Waymo's self-driving technology is far ahead of Tesla's in terms of trials and data.”
Listen at 6:42
Waymo would receive an exceptionally high valuation if separately floated.
“I believe we get a ridiculous valuation.”
Listen at 6:46
Alphabet stock would rise dramatically after a Waymo partial flotation.
“then I think Alphabet stock would move up dramatically.”
Listen at 6:49
Investors should own Apple rather than trade its shares.
“Apple, own it, don't trade it.”
Listen at 7:39
A very strong Goldman Sachs quarter might produce only a four-percent gain.
“A gigantic quarter might only give you a 4% gain.”
Listen at 7:56
Technology is a more fertile investment sector than other sectors.
“tech certainly seems to be a much more fertile ground to plow than any other sector”
Listen at 8:22
Investors can buy Palantir at its current price.
“I agree that Palantir can be bought here.”
Listen at 10:09
OpenAI’s legal dispute with Apple is a major IPO problem.
“I think this is a major problem for the privately held AI lab that's looking to come public.”
Listen at 14:53
OpenAI’s litigation could result in severe monetary penalties.
“At worst, this litigation could result in severe... monetary penalties against OpenAI.”
Listen at 17:22
Apple’s lawsuit could slow OpenAI’s entry into consumer electronics.
“the Apple lawsuit could really slow the progress when it comes to entering new markets like consumer electronics”
Listen at 17:32
OpenAI’s legal problems worsen its IPO prospects.
“it certainly doesn't improve their IPO prospects”
Listen at 18:19
Bending Spoons’ sales and earnings will grow strongly if acquisitions remain disciplined and profitable.
“If they keep buying good businesses at disciplined prices and make them more profitable, then the sales and earnings will keep throwing like crazy.”
Listen at 23:57
A disappointing acquisition could materially worsen Bending Spoons’ outlook.
“One disappointing takeover could make this a much uglier story.”
Listen at 24:10
Bending Spoons has a brilliant business strategy.
“I think they're doing something brilliant.”
Listen at 25:30
Investors may take a small Bending Spoons position but should reserve funds for lower prices.
“You've got my blessing to put on a small position here right now. as long as you leave more room to buy at lower levels, because I expect this one to come down.”
Listen at 25:34
Investors should wait one day before buying Sienna.
“I would say right now you've got to give it a day.”
Listen at 26:53
Investors should wait for Bending Spoons to decline, then buy a small position.
“if you want a piece of it, I think you should wait until it inevitably comes down. Buy small and then hope.”
Listen at 27:05
Santander is among the world’s largest banks by customer count, with 180 million customers.
“we're one of the largest banks in the world by number of customers, 180 million, with local scale.”
Listen at 28:50
Santander’s strategy is to grow revenue, lower costs, and improve profitability.
“we grow revenues and lower costs and improve profitability.”
Listen at 29:21
Santander grew revenue four percent, cut costs three percent, and increased Q1 EPS 17 percent.
“we've grown revenues by four percent and lowered costs by three percent. And EPS is 17 percent up on Q1.”
Listen at 29:41
The Santander-Webster combination will create a bank with roughly $300 billion in assets.
“Together, it becomes a $300 billion asset bank, a bit more than that”
Listen at 30:25
The Webster acquisition puts Santander on track for over 18% ROT by 2028.
“it gives us basically the road to get to over 18% ROT by 28.”
Listen at 30:34
Santander’s personalized AI service can generate shareholder returns.
“AI would allow us to do that. in a way that gives returns to shareholders.”
Listen at 32:09
Santander’s AI-enabled data access will support expansion into new markets.
“That is what will allow us to have an offensive role and try to go into new markets in a very different way.”
Listen at 32:43
The Santander-Webster merger combines two U.S. banks and brings $12 billion into America.
“We're combining two U.S. banks. So think of this as in-market merger, where we bring capital, we're bringing $12 billion into the United States”
Listen at 33:39
Santander expects above 20% ROT and €20 billion profit within three years.
“in three years will be above 20% ROT and above 20 billion euros in profits.”
Listen at 34:33
Santander expects to meet its targets despite weaker Brazilian performance.
“we're still going to deliver all the numbers.”
Listen at 34:52
Santander is the preferred bank for American companies operating internationally.
“Santander is the go to bank.”
Listen at 35:32
Santander’s Openbank has over $11 billion in deposits and 235,000 customers.
“Open Bank is a huge success. We have over $11 billion in deposits and, you know, 235,000 customers.”
Listen at 36:52
Enlight is a speculative buy.
“laser, which is a symbol for Enlight. is a speculative buy here.”
Listen at 39:35
Investors should buy Valero, Marathon Petroleum, and Phillips 66 when oil prices rise.
“The winners are the refiners that can raise prices at the pump immediately, which means Valero, Marathon Pete, and Phillips 66 should be bought.”
Listen at 40:53
Dow benefits when Persian Gulf chemical competitors go offline.
“Dow's a case of knocking out the competition.”
Listen at 41:32
Mosaic becomes a low-cost fertilizer producer when Gulf supply is disrupted.
“Mosaic becomes a low-cost producer instantly.”
Listen at 41:59
TJX is an attractive bargain stock.
“The real bargain, though, is TJX, which the Chapel Trust owns.”
Listen at 42:39
TJX could quickly gain approximately ten points as oil prices rise.
“you could get a quick 10 in TGX.”
Listen at 43:06
Aerospace stocks may be the best buys by Thursday if gasoline prices reverse.
“I think they're actually the ones that are best to buy by Thursday.”
Listen at 43:24
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.
Weekly email
State of the Pod, every Monday
The week's most-discussed names and stories from podcasts, with the moments behind them. Free, five minutes, unsubscribe in one click.