Oct 14, 2026 · 44 min
Workday pitches AI transformation as Cramer tests market discipline
Mad Money w/ Jim Cramer 10/14/26
The episode connects bank earnings and an enterprise-software AI strategy to a broader argument for valuation, profitability, and gradual buying.
- 1Major-bank earnings offer an early read on the economy and set the tone for the broader reporting season.
- 2Workday frames AI as a refounding moment built on enterprise data, cloud applications, and partnerships with leading model providers.
- 3Cramer rejects takeover speculation and money-losing enthusiasm, favoring strong businesses bought gradually at defensible valuations.
Don't miss
Anil Bhusri presents Workday’s AI transition as a refounding moment, linking enterprise data and applications to new agent-based products.
The brief
Volatile markets make every stock call feel conditional, so Cramer starts with a practical rule: strong companies may deserve gradual buying rather than panic selling.
Major-bank results provide the episode’s market backdrop, with Cramer using money-center and investment-bank earnings to gauge the economy and investor expectations.
The stock-by-stock discussion turns skeptical toward takeover hopes and money-losing AI or power names, emphasizing profitability, valuation, and what investors are willing to pay.
Workday CEO Anil Bhusri describes AI as a refounding moment, with cloud data supporting products such as Concierge, Coach, and an emerging agent system of record.
The episode closes by applying the same discipline to nuclear, healthcare, and technology stocks: enthusiasm matters less than durable businesses and reasonable prices.
What was said on this episode
48 statements · 28 positive · 15 negative · 1 mixed · 4 neutral
The latest CPI reading indicates one Fed rate hike is insufficient.
“This CPI reading says. That one hike, not enough.”
Listen at 2:56
Without further Fed action, the 30-year Treasury yield could rise to 6%.
“Unfortunately, if the Fed does nothing, I think it's actually possible that the 30-year Treasury, currently at 5.5%, goes to 6%”
Listen at 4:01
Housing is currently the weakest part of the economy.
“Right now, housing is the worst part of the economy.”
Listen at 4:10
Rate hikes will not stop consumers bearing higher prices.
“The rate hike won't stop that process.”
Listen at 4:31
Oil prices could fall by at least half if peace breaks out.
“I think oil could be cut in half. Even more.”
Listen at 4:54
A peace-driven oil collapse would produce a large stock-market rally.
“The stock market rally would be huge.”
Listen at 5:00
Peace would cause inflation to fall sharply.
“if we can give peace a chance, inflation will come down hard.”
Listen at 5:19
CoreWeave is a large company carrying substantial debt.
“It's a big company, a lot of debt.”
Listen at 6:37
Walmart is well positioned for the current market environment.
“Walmart is the winner in this environment.”
Listen at 9:05
Investors should continue holding Costco.
“keep Costco if you got Costco.”
Listen at 9:11
Investors should not sell Walmart.
“don't sell Walmart.”
Listen at 9:13
Cramer prefers SpaceX over Tesla.
“I do like SpaceX more.”
Listen at 10:43
Investors should buy SpaceX gradually using a pyramiding strategy.
“You're going to have to buy it slowly in pyramid style.”
Listen at 10:47
JPMorgan has a favorable intermediate-term outlook.
“the intermediate term future is looking bright. That one's a winner.”
Listen at 16:15
Citi's turnaround makes its stock attractive to buy after the decline.
“if you believe in the turnaround, as I do, this is a buying opportunity.”
Listen at 17:35
Citi's decline represents a buying opportunity.
“this is a buying opportunity.”
Listen at 17:36
The market is incorrectly judging Goldman Sachs's strong results.
“I think the market is dead wrong.”
Listen at 22:32
Cramer's charitable trust upgraded Goldman Sachs to a buy rating.
“my charitable trust upgraded Goldman Sachs to a one yesterday. That is a two. Basically a buy.”
Listen at 22:34
Cramer plans to buy Goldman Sachs again on a dip.
“I'm going to do it again.”
Listen at 22:57
Capital markets would recover quickly if inflation cools and rate hikes ease.
“I think the capital markets would bounce right back.”
Listen at 24:50
Cramer is unfavorable toward PayPal.
“I've not been a big fan of PayPal.”
Listen at 25:41
PayPal trades at ten times earnings.
“it sells at 10 times earnings.”
Listen at 25:45
PayPal's business is too limited relative to alternatives.
“I just think that that PayPal is too limited.”
Listen at 25:51
Investors should not buy stocks primarily expecting a takeover.
“I don't like to buy stocks just with the idea that maybe they get a takeover.”
Listen at 25:57
Workday's stock rebounded 71% from its April low.
“the stock's now rebounded 71% from its April lows”
Listen at 26:49
Workday's recent pullback may offer a buying opportunity.
“Could be an opportunity.”
Listen at 27:05
Claude is unlikely to make Workday obsolete.
“How did anyone ever believe Claude would make this company obsolete?”
Listen at 27:19
AI applications are built on top of cloud infrastructure.
“AI is built on top of cloud.”
Listen at 29:17
Workday's unified data and software enable effective AI agents for business.
“That data and that one version of software lets us train the models to produce amazing AI agents that make business better, automate, make better decisions, all the like.”
Listen at 29:35
Workday AI is improving 7-Eleven's hiring process.
“7-Eleven example is one really great example of how that is coming to pass.”
Listen at 30:56
Every Workday customer receives SANA Concierge.
“every customer gets it.”
Listen at 32:34
Workday considers Anthropic, OpenAI, and Google valuable partners.
“No, they're a wonderful partner. As is OpenAI, as is Google.”
Listen at 33:12
Combining AI models with enterprise applications is highly powerful.
“the power of the two together is amazing.”
Listen at 33:42
Anil Bhusri intends to lead Workday over the long term.
“I came back for the long run.”
Listen at 34:24
Workday has an agent system of record modeled on employee management.
“we have an agent system of record that manages agents the way we manage employees.”
Listen at 35:27
Investors should avoid companies that are losing money.
“I do not recommend companies that lose money”
Listen at 37:25
McKesson is well positioned in the current environment.
“McKesson's a winner.”
Listen at 37:42
McKesson's stock will rise substantially.
“The stock is going to go much higher.”
Listen at 37:45
Vishay Precision is currently overvalued.
“it's valued too high right now.”
Listen at 38:07
Investors should wait for Vishay Precision to fall about 10% before buying.
“I wait till it came in, maybe 10%, and then you can buy it.”
Listen at 38:09
Cramer recommends buying Medtronic over MiniMed.
“It's Medtronic. I would buy that one.”
Listen at 38:31
Medtronic trades at fifteen times earnings.
“15 times earnings for Medtronic.”
Listen at 38:34
Investors should not own Cypher because it is losing substantial money.
“you can't own Cypher. It's losing a ton of money.”
Listen at 39:06
Semiconductor stock declines are driven by multiple compression rather than earnings.
“The P.E. multiples are being crushed. PE compression explains this move, not earnings.”
Listen at 42:26
It is too early to conclude that hardware stocks have bottomed.
“My take, too early to call bottom in hardware.”
Listen at 43:03
Data-center construction requires hardware.
“you will need the hardware to build data centers.”
Listen at 43:07
Enterprise software stocks can continue rising.
“The enterprise software companies, they can keep going higher”
Listen at 43:11
AI will not destroy enterprise software companies after their changes.
“with the changes they're making, it never will.”
Listen at 43:23
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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