>> tim seymour? >> close little desk tonight. lyft, the l in blicep. >> crack staff here in ec. miles ross turning 40. 4-0. >> happy birthday, miles. >> my man. >> lockheed martin, "mad money starts right now. my mission is simple. to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now. hey, i'm cramer! welcome to a special west coast edition of "mad money." welcome to cramerica. other people want to make friends. i'm just trying to make you a little money. my job is not just to entertain but to educate and to teach you. so call me at 1-800-743-cnbc. or tweet me @jimcramer. you know why we come out here so often? it's because silicon valley is

the crucible of innovation. it's where things are created. it's where fortunes are made. you know why we don't do our show from washington? i think it's where innovation is stifled, fortunes are lost and companies aren't created. washington is the anti-silicon valley, with some incredibly rare exceptions. it isn't hard to find innovation out here. we can go to any trade show like the one we went to earlier this week the nvidia where we saw the future and we saw how we can own a piece of it. the ripple effects were everywhere today as nvidia spread pixie dust throughout the averages. dow gaining 269 points. s&p rising .32%. nasdaq advancing .2%. tonight we have a bunch of winners from nvidia's pioneering work in artificial intelligence and accelerated computing including medtronic which partners with nvidia to come up with better outcomes for colon cancer tests for all sorts of medical devices. the innovation in silicon valley, it's right in your face. but in washington it's a lot harder to detect the

government's anti-innovation bias. they're so clever about hiding it. and they're just as clever in camouflaging their contempt for those who've gotten rich with technology even if it's tech that's improved your life. and like with nvidia maybe made you wealthy too. however, there are times where the mask just slips off. maybe they can't prevent it. and you can see the truth. the regulators, they hate big business. the bigger it is, the more successful it is, the more they abhor it. especially, it seems, if it involves our crown jewels of tech. the companies that brought us back from our industrial nad ir when our nation only seemed to excel at making just movies and soft drinks, with anything of superior intellectual property being manufactured overseas. well, you know what? today was one of those days where washington couldn't hide their anti-business bias. today the department of justice along with 16 states sued apple. and you know what? i think it was a shameful day. a shameful day indeed.

because i am telling you, there is no merit to this case. now, you know me as someone who said for ages and ages not to mention a gigantic amount of points that you should own apple, don't trade it. why do i say it? because apple sells at particularly well price to earnings or sales ratio? not really. because it's got the hottest technology out there and it's just crushing, roiling over certain industries in a positive way? no, that's nvidia. watch my special interview with jensen huang, the ceo of nvidia, if you want to know my other own it not traded stock. no, i stay own apple, don't trade it, because it's the most innovative consumer product technology company ever. technology company. creating things we know and love. and trust. with the highest customer satisfaction rate of any business on earth. apple never makes anything unless it's as perfect as it can

be made. i say own it, don't trade it, because the phone represents an actual great bargain. something you can get with a telephone line that's subsidized by the carriers, so you barely even know the cost. and if you can't pay that, you can buy one used, which is often as good as new. why? because it's apple. i say own it, don't trade it because they care about my privacy and protect it better than any other company on earth, to say nothing about uncle sam, which i don't when i consider this lawsuit, get whether they try to protect our privacy at all. i say own it, don't trade it, because apple makes its ecosystem available to millions of developers who in turn have hired millions of people, taking back the mantle of manufacturing that our country lost years ago. and today, just today i just got a whole brand spanking new reason to own apple don't trade it. i know a loser case when i see one. and the united states of america

versus apple is a loser. as i used to say on the trading desk, not today, satan. now, for a moment there when the news broke i feared this might abe devastating antitrust case, maybe justice had some sort of horrible smoking gun that would make apple look like microsoft more than 20 years ago when they lost their big antitrust case. back then there was so much evidence of anti-competitive behavior it was easy for the government to paint microsoft as a monopolist out to destroy everyone else's business. absolutely. because it was true. but this time if they have a smoking gun let alone multiple smoking guns i didn't see them. the worst they have is some 2019 e-mail from a vice president of product marketing of the apple watch acknowledging that yes, the apple watch indeed, quote, may help prevent iphone customers from switching. end quote. handcuffs! last i checked there's nothing anti-competitive about trying to retain your existing customers. but maybe the law changed. now-i didn't go to harvard law school for nothing, because if that's the best they have, well, let's trim a little off that budget deficit and drop this case and file one against

someone who doesn't create the most jobs pay the most taxes and create the best products we've ever had. of course there's a huge difference between the microsoft case back in the day and apple now. at the time microsoft really did command 95% of the worldwide market share for pc operating systems. justice had a real case. but apple only has a 20% market share for smartphones worldwide and if you listen to the analysts who follow the stock that number is actually dropping pretty quickly. like the stock that lost $115 billion in value today. and then i thought okay, maybe i'm too quick, maybe justice has e-mails that look like something out of the standard oil predatory pricing model that gave it 100% of the oil market a century ago. maybe the feds have a true monopolist in their grasp, a company determined to destroy everyone else in the business even though apple obviously isn't doing anything like that in reality. believe me, you'd notice. instead what i found was a pastiche, a mosaic if not a genuine hodgepodge of issues involving allegedly suppressed super apps, hampered streaming video games, apple watch tie-ins and apple pay privacy concerns that collectively amounted to one of the most bogus bogeymen

of all time. there's no standard oil. there's no gates. there's no rockefeller. there's just the greatest product in history. the one that's become our most cherished possession and now the government wants it to make it worse, not better. thanks for nothing. and that really is what this case is about. the government wants to make it worse for the company we like and better for companies we don't like. justice literally created this whole new term. it's called the performance smartphone market and then accuses apple of attempting to monopolize the performance smartphone market. i burst out laughing when i read it. never heard that term before today. yes, it's true that apple has 70% of the performance smartphone market. but that's because hardly anyone else is making anything that can rival the iphone's performance. is that apple'sfault? the government basically created this category out of whole cloth to make apple look bad. i'll give the justice department this, though. they did manage to scare a lot of the the summer soldier and sunshine patriot shareholders out of the stock today. those people will probably sell more apple tomorrow because the regulators just created, i kid you not, the regulators just

created a head and shoulders pattern for the stock. who knew the justice department was filled with a bunch of closet chartists? love them. i'll tell you this the decision by the justice department to go against apple will end up like the myriad analysts who went from buy to hold on apple stock during my time. it's creating one more buying opportunity. because the regulators, they ain't got nothing for you. bottom line, maybe when this loser of a lawsuit comes to trial we'll look back and say thanks, justice, i remember that day when i bought the stock of apple at a discount. and boy, was i ever right to hold on to that one. let's take calls. let's go to bill in new jersey. bill. >> caller: hey, jim. boo-yah. >> boo-yah, man. what's up? >> caller: i just want to know why pepsi's so voluble. it goes from 196 a year ago to 166. now it's on the move on the upside. but it was flat yesterday, made

a couple pennies today. >> shore, this is about eli lilly. it's about mountjaro. it's about zepbound. the glp-1s. and people fear you won't eat -- you can just eat one if you take those drugs. and right now people are kind of forgetting about those drugs. pretty good manager. i say pepsi's fine not great not bad but a 3% yield's probably not going to hurt you. earl in maryland. >> caller: hey, how's it going, jim? >> it's a good day. how about you, earl? >> caller: i'm good. i'm good. i've been looking at taiwan semi for a while. about $80. i want to know should i wait for a pullback or tap in now? >> i think it's worth waiting for a pullback. you'll just get some story out of china that makes it sound like everyone's scared, and that's when you've been buying this and right to buy it and that's when you'll do it again. okay, today. i think today's decision by the justice department to go against apple is creating just another buying opportunity for the stock. thanks, justice. although that -- i'm worried

about that head and shoulders pattern, justice. tonight i'm getting a close look at all the companies partnered with nvidia's groundbreaking technology including medtronic. using nvidia's chips to improve its own technologies. i'll be finding out more from the ceo. then five below sank today after its latest earnings report. but is now the time to go shopping for the discount chain? i'm going to get to the bottom of the story with the ceo. and i couldn't come to san francisco without sitting down with the leader in cybersecurity, palo alto networks. how's the company adapting to the latest sentiment surrounding its growth? i'm going to sit down with the company's top brass. so stay with cramer! >> announcer: don't miss a second of "mad money." follow @jimcramer on x. have a question? tweet cramer. #madmentions. send jim an e-mail to madmoney@cnbc.com. or give us a call at 1-800-743-cnbc. miss something? head to madmoney.cnbc.com.

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♪ my biggest surprise at this nvidia conference has been all the health care companies that are using ai to revolutionize the industry. take medtronic. that's the leading medical device maker. they're using nvidia's technology to create more accurate colonoscopies with their g.i. genius intelligence endoscopy module that makes far fewer mistakes than an unaided human eye. but today i got a chance to see how this device and others involved with the help of nvidia firsthand seem to be changing the whole medical industry. then i spoke with medtronic's chairman and ceo geoff martha. take a look. >> geoff, from the work we've done on here i keep hearing your name, your company's name over and over and over again as being

the pioneer of how to use ai for democratization, for personalization, and for lowering the cost of health. >> right. ? so what are you doing? >> well, first of all, thanks for having me on, jim. i'm glad to hear that you've got it, you've got the headline here. so look, the intersection of traditional biomedical engineering, which is what medtronic is all about, has been all about for 75 years, the intersection of that with digital technologies, today's digital technologies, whether it be data, ai, edge computing, cloud computing, robotics, that coming into our space has been a game changer and it's allowing us to get to the headlines you just mentioned. using data to democratize, as you said it, good health care and actually personalize therapies, things like deep brain stimulation for parkinson's, personalize that

over time, or surgery like spine surgery which we were talking about off camera here. lots of room for improvement there, and the ai is personalizing surgical plans -- >> as opposed to just having 17 million people, lifelong pain. >> right. >> with no real hope. with pills that have so many side effects that it's not worth it. >> you got it. you got it. >> now, how about one that i think is palable when you give the percentages? colorectal cancer. which is preventable. and i know i talked to you off camera, said i'm going to go for a colonoscopy because i've been bad. i used another method that does not give you as much view about what can happen, just tells you where you are now. what are you doing with colorect cancer? >> all right. so what we're doing there is as we -- we already participate in colonoscopies. we have technology for k colonoscopies. but we saw an opportunity to take all these colonoscopy videos that have already been done, 13 million of them to be exact, and train an algorithm to be -- to find those poll ichz

that surgeons remove. >> classic ai with nvidia. classic. >> it's a great example. and we partner with nvidia. we partnered with them well over a year ago, and it's their -- it's their technology that's on the edge. in the g.i., the gastroenterology suite where the colonoscopy's being done processing this algorithm real time. that'sbeauty of this, is we didn't have to change the surgeon work flow. it's existing surgeon work flow. we have the algorithm, it's fda approved. and what we found in the clinical studies is that surgeons were missing 26% of the polyps. and again, it's not that they're doing something wrong. other than being human. when they're doing eight procedures a day, in some cases ten, their eyes get tired and they miss things. and some things are almost impossible to see with the naked eye. and the ai picks it up and it doesn't get tired. >> we keep learning how ai is

better than humans. they don't get tired. they don't make these mistakes that can be life-threatening. you guys are doing some incredible hypertension stuff that could make it for -- now fda approved that could make it so people who don't like to take their pmedicine because they can't see that they have hypertension you save their lives for them. >> right. i think, jim, this new hypertension procedure we call simplicity could be the biggest thing that we've ever done. we've been working on it for 15 years. as you mentioned, just got the fda approval. and what it is, it's a day procedure where we're actually applying some energy to some nerves around your kidney that is a root cause to much of hypertension and it drops your hypertension down pretty instantly and we're seeing double-digit drops in hypertension. even like a four percentage drop is like a 30%, 40% improvement in strokes and heart attacks and things like that. it's a day procedure.

no pain. and the effect lasts. we have thousands of patients in our database here and we have it going out to ten years. the effect actually gets better over time. >> now, when you do work with back, i mean, there's one where you have a lot of data. people who are doing -- from the work i've done, people are saying well, you know what, i've seen a lot of things, let me tell you what i think we should do. guesswork. people who are just relying on their own personal history of being a doctor. that can all go. now we can just do the data base and find out what's right. >> right. you're talking about spinal surgery or any surgical procedure. these surgeons spend their whole life, a lot of time in school, and then they graduate med school, they do a residency and then a fellowship to specialize in something like spine surgery, and they spend a lot of time honing their craft over years and years and years. and then when they retire we lose a lot of that knowledge. so now we're collect ing all ths literature, all these surgical experiences into a database and

applying ai to that. if you were to go into back surgery now you get your image, your ct image, your mr image. we load that into this tool, this ai surgical planning tool that has all this historical knowledge in it and is constantly learning and we'll personalize your back surgery for you. >> now, three years ago was any of this going on? >> just starting. but now we've got thousands and thousands of people in the database. now we're personalizing implants. you can actually personalize based on your images, based on what the ai algorithm is saying we should do for the surgery, we'll personalize the implant in terms of a certain -- a rod that's implanted, the scaffolding if you will for your spine. we'll personalize that curve for you. >> people have got to know that they can go to the doctors different from -- if they haven't been in three, four years maybe they could learn something about themselves and save their live. >> absolutely. and what i'm so encouraged is not just about the technology that's coming in, it's just how physicians, their intellectual curiosity is -- they're adopting

it. they're working with us. the fda. you know, they've got to watch safety and efficacy. but they want to see this technology get to patients, and they're collaborating with industry in the appropriate way to say okay, how can we make sure this is safe? how do we make sure we can -- because it's data. how do we make sure we don't betray any patient trust but how do we get this technology to patients and how do we democratize health care? i really feel like between the regulators around the world, the fda leading the way, the physician community, the big tech community like nvidia, you talked about jensen this week, they're very focused on that. working with the med tech industry to make this happen. there's big companies like medtronic but there's also a lot of start-ups out there. a lot of start-ups out there that are doing some really innovative things. they keep us on our toes. >> look, all i can tell you is what you've done with your company, i've seen you since you became ceo. you're a big thinker and you're getting it done. it's really impressive.

geoff martha, chairman and ceo of medtronic, mdt. just very exciting stuff. thank you so much. >> thanks, jim. all right.

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in north america. ontario. your innovation partner. ( ♪♪ ) what the heck just happened to the stock of five below today? we know that dollar stores have been disappointing this earnings season. last time we got some not so hot resultsfrom this $5 store, a small top and bottom line miss.

management blamed theft along with tepid guidance for the current quarter and the year ahead. and that's why the stock plunged more than 15% today. and this is a darling. what do we do with it now, though? five below still has a very ambitious store growth agenda and if they can beat the theft issue this might abe terrific entry point. although it's tough to own any of the discount retailers here. let's talk it over with joel anderson, president and ceo of five below, to learn more. mr. anderson, welcome back to "mad money." >> jim, thanks. great to have me with you as always. >> well, i've got to tell you, lost in all the kerfuffle of the stock price today it was a pretty good year and a pretty good quarter you just went through, wasn't it? >> hey, jim, it absolutely was. it was a great quarter. what happened yesterday, we obviously disappointed investors. and they let us know that today. what shouldn't be lost on everyone is we didn't disappoint our customers. we're coming off a quarter with a three one comp. and sales grew 16% last year.

the customer still likes what they see. it's all things easter over my shoulder here. and we're pushing ahead to continue to please our customer. >> let's go over some of the things that you've done also that maybe people think are not working that i think were. five beyond. this was something i know i was concerned at one point. i thought maybe you were getting too expensive. but that's working out well, isn't it? >> five beyond happened when tariffs started in pre-pandemic. and we started with ten below, which is really a defensive strategy. and how that became five beyond, we converted over 450 stores last year to the five beyond format, which is about 2/3 of the front of the store is five below and the back of the store you enter in a store inside a store and you enter five beyond. and it's working great. it's really been a driver of sales for us. >> all right. let's talk about what the analysts spent most of their time talking about. i understand that. at one point someone said you're beating a dead horse here.

but there were some theft issues. it's elevated. but not just at your place. it's elevated with a lot of different stores. and what i was thinking about was you were the first one at least to say you know what, maybe our problem is with a little bit too much self-check-out. now, you are pivoting on that, correct? and starting to address how self-check-out may be a weakness. not enough defense against theft. >> yeah. it's a good call-out, jim. but i think it's also important we remember why self-check-out really took off not only for us but most retailers surged during the pandemic because as you recall people didn't want to interact with other people and the customer really embraced self-check-out. so it was really done -- the explosion was done out of customer experience. but you know, we've got to dial that back now because as city laws have changed and we've decriminalized shoplifting and retail theft we've also got some bad actors in our stores.

and so you will see us shift more to assisted self-check-out where you'll have an associate checking you out now. >> now, at the same time some people might say oh, that's going to be too expensive. but given the problem, the size of the problem, you can find good enough labor that can help and still please your customers, right? >> absolutely. i mean, when we put self-check-out in before, shrink always grew, you know, 20 to 30 basis points. now we're seeing growth in our self-check-out well over 100 basis points. so that is way too much. and we've got to bring that back and put some labor back in the stores. which the customers will love too. so there's a customer experience to this as well that we believe will be beneficial also. >> i'm glad you said that. there was a terrific article in "the atlantic" not that long ago that said people are not as crazy about self-check-out as you think. i hadn't thought about what you said, though, which was it was sure good in covid when you

didn't want to talk to anyone. now, let me ask you. do you feel confident that you should stick by your goal of 3,500 stores by 2030 if right now the growth may have been so fast that you didn't realize you had this kind of theft problem as bad as it was? >> yeah, it's a fair challenge. the top line is not our problem right now, though, jim. and in fact, we would argue that if we get shrink back under control to pre-pandemic levels you'll even see more growth on that. we're really excited about the pipeline. we announced yesterday we're going to open between p 235 and 245 stores this year. there's a lot of demand for five below stores. our customers love it when we enter the community. and i'm not concerned about the top line at all. >> my friends who are in the real estate investment trust business say there are still some very high-quality spots but they also say that right now tenancy is very high.

are you able to find the right locations given the fact that we see 96, 97, 98% occupancy at some of these great real estate investment trust malls? >> yeah, it's -- that's clearly the truth coming out of the pandemic, but unfortunately last year we saw several bankruptcies. last week another chain announced it's closing 1,000 stores. joanne fabric announced chapter 11 this week. the shift is happening, and i think what the real estate developers really like about our store is that it's a differentiated concept. so we bring a different customer. we bring a young customer. we bring families. so they're very excited to have a chance to get five below in their center. >> finally, let's go back to what matters. you had hello kitty, disney, harry potter. you had hydration. you got anything cooking in 2024 that we should be focused on? >> well, none that i can tell you about. i can tell you right now it's all about easter.

everything up here is easter. here's a fuzzy egg. you open the egg and, you know, wouldn't you just love, jim, a skittles-scented body scrub. where else can you find a skittles-scented body scrub than five below? so that's the fun of our store. it's a treasure hunt. you always find something new in it. we'll take care of the bottom line. we're going to take care of this shrink problem. but in the meantime it's still about product and merchandising and driving the business. and yes, we do have some fun things coming down the road. >> i've got to tell you i've been wearing for the stock to come down. it never came down. suddenly when it comes down everybody's scared. i'm not. and i'm thankful for joel and sorngs president and ceo of five below, coming on the show. i'll see you in a couple weeks in philadelphia i hope. >> i'd love to see you out there, jim. appreciate you having us on. we're excited. and this is a great entry point for five below. >> i agree with you. "mad money's" back after the break. >> announcer: coming up, a long-time cramer favorite is playing defense.

is there a buying opportunity in palo alto networks? find out, next. (♪♪) access to opportunity isn't always equal. but at the massmutual foundation, we believe tha— you know, it doesn't really matter what we believe. what matters is what ruth, marcus and michelle believe. that kendall believes he has a say in his future. that these neighbors believe there's opportunity in their neighborhood. at the massmutual foundation, we don't believe. we know things get better when we invest in each other. (♪♪)

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what's happening with cybersecurity? about a month ago palo alto networks, long one of my favorites, saw its stock plunge 28% in a single session after the company gave conservative guidance and management made what sounded like discouraging comments on the conference call. ceo nikesh arora spoke about, and i quote, spending fatigue, although he later clarified he wasn't talking about overall levels of demand. he meant his clients are sick of spending their money across

different cybersecurity vendors in order to get complete protection. since then palo alto's been trying to get wall street on board with their platformization strategy where they try to get customers to adopt their complete soup to nuts solutions without going for a la carte products. we're sticking with it for the charity trust as we told the investing club. but don't take it from me. earlier today we got a chance to check in with nikesh arora, the chairman and ceo of palo alto networks. take a look. >> last time we spoke we talked about the platformization. and i like to know, because your industry works pretty fast, what's the customer response? >> you know, jim, i know there was a lot of trepidation around platformization. everybody else seems to not want to talk about platforms, which is great. i've been very excited about the response i've gotten from our customers. for the first time i have inbound calls from customers saying how can i take a bunch of my legacy stuff and move faster toward this notion of

platform -- and bigot by the way, that's not just because of platformization. i think the hacking activity continues to increase every time you and i speak. >> well, taz kind of where i'm going because i think the hacks are now beginning to affect mainstream america. i was part of a -- there was an unfortunate hack involving health care system. >> yes. >> somehow they know my data. i'm being called several times a day about what happened with me. and what i'm saying is there's got to be millions of people in my situation. what is going on in it's hitting home. >> well, jim, since you and i talked last time there have been four major things that have happened in the hacking world. one, you know, they sent an advisory that everybody has to get off legacy vp flchlts as quickly as they can. they told people every government department has to get off. and of course that means every ente enterprise, every company is getting off that. i've seen 100 inbound calls from customers saying how do we get off this as fast as we can? >> a system you are on that the government says we don't want you on and they have to go to another system. >> they basically have to get

off ivante and they have to get on to a sassy platform, which we've been deploying for the last many years. i've got customers calling saying how quickly can i get off this and get on your platform? we have free trials, hundreds of customers calling us. this is one thing that happened. >> there's no more fatigue when it comes to people figuring out what to do. >> there's never been fatigue in getting their cybersecurity to a better place. there was a challenge in getting maximum value and that's what i'm addressing. notice i changed from fatigue to maximum value. >> i think there's a crisis that we all didn't see coming and i think that the bad guys must have gotten some sort of cartel and gotten information and split up this information. because anyone who has a spam call in the last 48 hours, it's from someone who knows your health care records. >> yeah, the second, third, and fourth thing -- second, obviously we heard about the health care hack unfortunately.

they publicly stated -- >> united health. >> well, change health care is a subsidiary of united health. >> they brought you in. >> yes. in the last four weeks we have brought back their systems with their support. we have reconnected the pharmacies. the u.s. health care system is back on track. now, what that is resulting in -- >> it was down. >> yes, it was for a few days because we had to make sure we cleaned everything, we put it in the right place, made sure the data was up and running, all connections were secure. he with brought it up and running. what's important change platform health is going to platform palo alto end to end. i want to make change health care look like the example of what great looks like. we think we all deserve that, especially as it relates to our health care industry. there is no risk that can be taken in that regard. i think the health care industry is on alert making sure that everything gets up to snuff as

quick as possible. >> we spoke, that there was trouble closing federal deals. have the federal deals accelerated? >> well, good news is as we said -- out of our business forecast. yes, the federal deals are slowly moving in the right direction. a lot of the placement impacted the federal departments which they're coming back to saying how quickly we can get off that. look, business is exactly where it should be. platformization is beginning to take hold. lots of customers are calling us. hacks are continuing to rise unfortunately. they're mainstream. we're seeing a lot more nation state activity on a constant basis. the environment is where it was. and cybersecurity's going to be on for a very long time. >> i think the market is big enough for everybody. i do know that a competitor, george kirsch, and we both know, does a very about g. job at crowdstrike, told us a global giant replaced your company priz ma cloud product in a large

seven-figure deal. >> i don't know what seven figures is -- it's a million dollars. got it. yes. >> okay. he also mentioned a major mobile computing company standardized on -- people switch companies, right? i am sure there are people who were with crowdstrike that switched with you and you just don't talk about it with me. >> well, jim, i'm going to take the higher ground. i think george runs a good company. crowdstrike's a great product. i home one day to become a platform. right now we're seeing cross-platform deals. i'm focusing on eight figure, nine figure deals, that's what's going to make palo alto the largest cybersecurity in the world. and i'm glad he's getting some seven-figure deals. >> i think there's so much room in -- this is the fastest growing space in the world. i do not want to hear that one is a loser and one is a winner when united health has to call you for change because the hacks -- i mean, this morning we did a piece about how the sewer

and water companies have to be on alert. are you getting deals from that area? >> look, critical infrastructure has always been a weak spot because they have traditionally not been able to invest as much in technology as they should have. and we're busy connecting all of those to the internet. as you collect all legacy systems to the internet you need to get cybersecurity up to a state where those things cannot be interfered with. i think we'll see constant upgrades needed in the infrastructure whether it's water, electricity. soon there's a lot of discussion going to be with ai and power. power systems are needed for these ai data farms in the future. >> firewall business has been in decline. it's a legacy business for you. can this be given away as part of getting people into platformization or does it not matter? >> i think there's a fallacy out there that the firewalls aren't going to be needed. kind of like when people said we won't need storage at one point in time and we won't need pcs.

firewall will have the same fate in the future. last quarter we were the only firewall business that took share in the market and grew positively. we continue to -- >> that's different from what i understood. >> firewalls are going to be needed. there's more and more data flowing through the pipes. the more data flows you need more data inspection. the cheapest form is hardware. many people are moving to the cloud you need software firewall. higher growth in software firewalls. >> last question, we were obviously at nvidia's conference. a lot of gen ai. we know they announced a deal with crowdstrike. i have to presume you work with nvidia. right? obviously, you're partners when it comes to being partners, you need them. >> jim, ai's going to be transformative. i think you spent the whole week talking about ai. i think nvidia's amazing at what they're doing. we're working with ai, google, claw, because we have to do two

things. o one, we have to protect our kuflts from anything bad actors use these platformsfor. we're seeing bad actors are atracking female faster. second we have to make sure we embed ai in our products. we'll hear from everyone. >> i hope to stay tuned and hope we get to see all the stuff you've got planned for us. >> i look forward to showing it to you. >> excellent. nikesh arora, palo alto networks. very large position for the charitable trust. when we return, master the markets. one step at a time. "lightning round" is up next. power e*trade's easy-to-use tools, like dynamic charting and risk-reward analysis, help make trading feel effortless. and its customizable scans with social sentiment

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it is time! it's time for the "lightning round" on cramer's "mad money." say the name of the stock, buy buy buy -- play until you hear this sound. and then the "lightning round" is over. are you ready, skee-daddy? time for the "lightning round" on cramer's "mad money." start with linda in florida. linda! >> caller: hi, jim. smci. shall i buy now? >> no. no. look, i would rather buy nvidia 100 points higher than it is now than buy smci. that's how i feel about it. let's go to ann in indiana. ann. >> caller: hey, jim. thanks for the annual meeting. i'm a club member. really appreciate you -- >> we've got a meeting next week again. they're working me to death but that's okay, i'm ready for it.

what's up? >> caller: alibaba. buy more? sell? >> it's so hard. if we trusted the chinese to do the right accounting, by people working really hard, i'd say buy it. but right now they seem inclined to attack all the rich people including the people who run that company. bini in new jersey. >> caller: boo-yah, jim. thanks for taking my call. how do you feel about amd in the next 12 months? >> i think amd's been in the penalty box long enough. i do live in nvidia land but i haven't lost sight of the fact that lisa suh is one of the greatest manages of our time and it is time now for me to think can i own both of those for my charitable trust? let's go to chuck in arizona. >> caller: hey, jim. it's philadelphia's favorite son. how are you? >> oh, man. doing great. thank you for asking. how about you? >> caller: all right. yeah, i'm on the jensen huang ai

trades. and i want to ask you if it's the right time to hit the buy button on applied materials. >> it's never been the long time in the last couple years. gary dickerson's so great at what he does. it's up five. it's at a high. i'd buy some and let it pull back. i wouldn't buy it all at once. let's go to mary in idaho. >> caller: hi, jim, this is mary in idaho and i'm a frequent caller and a member of the club. i want to thank you for all the guidance and direction and information you share with us individual investors to help us reach our financial goals. >> that is our plan. thank you. >> caller: you done good, kiddo. >> thank you. >> caller: the stock i'm calling about i've held for quite a while and i notice lately it's going backwards instead of forwards although it is up today. and i know you prefer home depot, but what i've got is lowe's. and i don't know if i should

just hold on to it and see if it reverses and starts -- >> no, mary, you're -- lowe's is really good, and marvin ellis is a great ceo. and i've got to tell you, lowe's almost at its all-time high. home depot too. both of those are good. and that, ladies and gentlemen, is the conclusion of the "lightning round"! >> announcer: the "lightning round" is sponsored by charles schwab. coming up, a chip off the old stock? cramer examines the chips act. next. trading at schwab is now powered by ameritrade, unlocking the power of thinkorswim, the award-winning trading platforms. bring your trades into focus on thinkorswim desktop with robust charting and analysis tools, including over 400 technical studies. tailor the platforms to your unique needs with nearly endless customization.

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we make money from ads, but they don't follow you aroud join the millions of people taking back their privacy by downloading duckduckgo on all your devices today. when you hear the u.s. government's writing a check to intel for $8.5 billion and extending an $11 million loan on

top of that to build out semiconductor plants here in america, you're probably thinking boondoggle. to many it seems like a foolish giveaway. won't intel build these plants anyway? they've already committed to a $100 billion investment plan in the united states. but i say that is actually all wrong. intel's investing here precisely because of the chips act, gina raimondo realized our country's too dependent on foreign manufacturing. we tend to outsource the manufacturing to taiwan, south korea or malaysia. the chips act which i championed from the get-go was a response to a real need. we don't manufacture high performance chips here. we don't make many of the chips used by our own military. and as we found out during the pandemic our overseas supply chain, forget about it. it's much more fragile than we thought when it comes to semiconductors. in fact, we have an unbelievable dependence on a single company, taiwan semiconductor, which is a serious problem because our number one geopolitical rival in

the world, the people's republic of china, wants to devour taiwan. and the more our commerce department curtails the sales of our highest-end chips to china including the ones ncvidia rolld out this week the more krintive china has to doing? crazy to get its hands on the taiwan semiconductor chips. of course they argue the commerce department doesn't know what it's doing when it throws billions of dollars to fund these new facilities. it used to be the leader in cutting edge semiconductors. that ended ages ago with the ascendance of jensen huang's nvidia and lisa suh's amd. why the heck would they pick insnell it's a good question. but you've got to keep in mind that most semiconductor companies don't want to be in the business of manufacturing chips. the margins are much lower than simply designing the chips and having taiwan semi physically make them, what a deal. that's doubly true if you're doing the manufacturing here in america. it's just way too expensive.

no way intel would be building new foundries in this country without government subsidies. they could make chips in taiwan at a fracture of the cost, boost their earnings per share. how did they get to the point where we manufacture zero accelerated high performance chips here in how'd that happen? frankly we just don't know how to do it because we don't train enough engineers and our workforce has minimal experience in building these complex foundries. it can take up to four or five years to get these plants ready to produce the best chips and almost no company can afford to make that kind of investment unless they can guarantee a good rate of return on wall street. and the only way to do that in america is with government incentives. finally it drives me nuts to hear people say the government's picking winners as a guaranteed disaster because the government doesn't know what it's doing. that's the rap. i've heard it many times. sometimes that's true. but it depends on the people. i know intelcan get the job done. seems to be a fine choice to me, even as i don't like the stock. secretary raimondo's basically the only person in the biden administration that knows the ins and outs of business. before she got into politics she was a venture capitalist for

heaven's sake. her team is unbelievably rigorous. they speak constantly to all the midge hyperscalers, companies like amazon, microsoft, alphabet and nvidia. the outfit includes brad koenig the former head of goldman tech's banking group. i helped recruit at goldman back in the day. he's exactly the kind of guy you want for this job. i can't believe he's willing to take it. so think about like this. we need to build these chips in america but we have no hope of making that happen without these subsidies. and let's remember that many other countries subsidize chip making far more heavily than we do, especially china. plus we have the best possible team to pick the so-called winners. the intel subsidy will bring back business that would most likely have gone to taiwan. not that there's anything wrong with taiwan. great ally. but sadly, it's the country most vulnerable to chinese aggression. if we want to protect our strategically essential supply chains we need to be able to build these chips here. and that's exactly where our

government needs to spend this money. oh, it's no boondoggle, people. it's something like let's call it an economic necessity. i like to say there's always a bull market somewhere and i promise to try to find it just forever you right here on "mad money." i'm jim cramer. see you tomorrow. "last call" starts now. right now on last call, a nasty bite. the government going after apple. one of the state attorney general's will join us to share what comes next. liftoff. reddit soaring in its debut. with an ipo rush on the menu. leaving tech behind with the mighty hot shriek for the small caps. accuse housing market surprise. there is a lot more that needs the i. >> plus, the wild scandal involving baseball highest-paid star and the plot could soon second-period all that and more over the hour.