>> hold on. >> guy? >> david's favorite, i don't care if anybody gets mad, palo ghto networks turning back hier. >> thanks for watching >> my mission is simple, to make you money. i'm here to level the playing field for all investors. there is always a premarket and i'm helping you find it. mad money starts now. >> hey i'm cramer, welcome to mad money. i'm trying to make you a little money. my job is not just to entertain but to teach you and entertain. i've been searching for words which could explain what

happened to apple stock which sent it up 7%, a staggering amount and i think i may have come up with something, we heard people talk about conventional wisdom but if there's conventional wisdom maybe there could be influential wisdom. conventional stupidity. we have to explore where this comes from. stock moves that have all some action. the s&p 500 advancing and nasdaq jumping up to 80%. the average aided by the move in the consumer tech company. these are records for the snp and nasdaq. 24 hours ago apple's stock was plunging in freefall because conventional wisdom held that there was nothing new to be had

or heard about from the developer. conventional wisdom said the whole thing was the lack of some killer way to do something. the surrender they've made to others in the field of our officials intelligence. the absence of anything that could make you buy a new iphone. there's some no taking. they push ads at me and say i like this they will push this to me. according to these people, apple has to be pure as the driven snow. it means you can't raise the numbers because as tim cook told me, campus was buzzing. what are you supposed to do with that? he said everything was personal. how much do you admit to that? apple intelligence, ai for the rest of us? conventional wisdom said it was nothing but a gigantic nothing

burn. is this catch-up, maybe? the capitalization came up a cool $215 billion. a little drive. ask yourselves was the reaction not conventional wisdom but conventional stupidity at work? i think so. we found out today what matter to consumers, the whole time, was a gigantic question and that's all that matters with stock as well. will have to upgrade? if you are taking what they are offering with totality against the iphone 16 that more than 1 billion people have their iphone and a huge percentage of not a preponderance, they will upgrade. why? let's go over this. maybe it's because of the features. allow us to send personalized emoji max emoji's. smiley faces? these are serious emoji's.

siri is no longer the court jester. we keep getting to know you better and better. your pal, your friend, your companion. now we have computing power in spades. it's days like this, it's all chicken scratch. you're lucky if it's legible. those days are over. they will take down the meetings on the phone instantly they needed to focus on what was said and not on trying to decipher your own handwriting and by the way it turns out the personal ai stuff is about privacy. you don't want to give someone your personal data it's not an even trade. it could follow you wherever you go.

yes. there's no advertising, no gardening stuff. you could learn about what you need and that is it. you give it the heisman and tim cook told me to stay tuned because there's more to come with google's gemini after all, that's not something that open ai couldn't knock because they were able to lock up apple. i know that elon musk is unsatisfied. he wants them to ban the devices if they use open ai. they aren't spending $60 billion on data centers. they aren't giving oracle i gigantic check like everyone else? they aren't writing multibillion-dollar checks to nvidia and part of some arms race . it may or may not produce actual profits. this isn't a nothing murmur, it's the real deal.

a double cheeseburger with fried onions and special sauce. it's an impossible burger, the one that they ate at the hot dog eating competition. how dumb could these commentators be? did they go to business school to get a degree? i hate talking with a mouthful. did they start this to spew idiocy in your general direction? coming from that world it's uncomfortable to figure out what people could want. analyzing enterprise and enterprise hardware pushing this in a spreadsheets, apple is a consumer oriented company. it didn't give you robust dashboards for the next order. how will you know if salespeople are trying to sell

those systems? a lot good this would do when you're trying to stock up for united health. we want serious and seamless one boards to expand the software and service models. this device has nothing like that. how are they supposed to stack up against other software containment enterprise? give me a break. they don't want to do that much work. it's too subjective. yet, that's what you heard from yesterday. people want apple to be part of the ai arms race in over something that's corporate putting pen to paper to come up with 10,000 enterprises. they want to be able to model the sales to move on. they want them to play by their rules. they want to trade this nine ways to sunday. that's the source of the

negativity that you saw forfeit yesterday. the homespun wisdom that comes from people who don't want to admit apple, that they want to keep selling to what's been there key demographic for the whole time. the consumer. they are chasing enterprise. they've got no idea how to evaluate a tech company that's like that. they don't know anything about the consumer. you think i like repeating over and over again that people should just own apple and not trade it? you think i like parroting the tim cook line about the wonder of it all and how much people of the privacy and personalization and indispensability of people that's been telling you it's a total bust from the get go? darn straight. you bet i do. >> i just wanted to say, first, thank you for all you've done. you helped me to feed my four children have to recite on the first iron man movie. >> everyone made hundreds of thousands of dollars.

stark industries. >> my question is, i wanted to start looking into ipl that utz that you would suggest first. >> i think you should own berkshire hathaway period. you'll do great. thank you for your kind words. wasn't that something? let's go to and in indiana. >> hey jim, thank you for taking my call. i'm a member. i've seen you do this so many times with how you put together the whole pastiche to make a decision with the company. one quarter they seem to have pricing power and share than they are losing pricing power and the comps are down. with this in the way of the

process are they a multi-box now would you say? >> they were down a dollar 70 today. they'll have to get some good money after the bad which is exactly what it is right now. i've said it once and i like saying it again, own apple and don't trade it. eli lilly has some positive news of outcomes. i'll give you the latest on the healthcare stand up and it's progress. one of the key players making strides, we discussed the name. we will see where the energy company stands with record- breaking efficiency so stay with cramer . >> don't miss a second of mad money follow at jim cramer on

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>> everyone knows that i love eli lilly because his elect to be the biggest of all time. it's a revolution for weight loss, diabetes and other applications. it got into its current evaluation with the strength of the medication for good reason for those of you who've honed in for the long haul, let's

talk management of course, there's more to lily than the gop dash one evolution. they are working with a very exciting alzheimer's drug. the fda's peripheral and central nervous systems drugs advisory committee held a media. the results passed all expectations. this one is new. i know viewers along with the investing club they give my endless endorsements of the stock. it's a very good outcome. the advisory committee voted unanimously on the questions voted. they said one the drug is effective and the benefits of the negative outweigh the risk. because there's something of these happening. we didn't know how the advisory committee would rule. it wasn't a given. they released background documents ahead of the media with a couple of areas. it looked like his drug could

potentially get a ding on safety crafts. three patients died from a condition. there were zero deaths from that cause in the placebo group. more deaths generally in the group that got the drug been in the placebo group which is a sign that something is going to get approved. you never want to see more deaths in the aftermath of the medication so they fear it may not be approved. the second issue is more of a technicality. to change the primary endpoint of the legal trial. willie originally said they would use a measurement called the clinical dimension rating. evaluating how this works. a cognitive function called the integrative alzheimer's disease rating scale. the fda previously said they didn't like that move. in the end those concerns

didn't amount to much at all. they clear out a type of plaque we know that they could slow the cognitive decline of late stage alzheimer's over an 18 month period. imagine having the window for yourself. this is a horrible disease. with the measurement systems, in this case it was aided by the fact that the drug demonstrated significant results on the fda's reversals. they use the resistance of the formal primary endpoint. it looks good with either of the metrics. a formal proof of the fda.

this would certainly be highly unusual for them from 11-0 drug. that hardly ever happens. they usually follow directly with munition. this was three years ago when the ad panel advised the agency against approving the first alzheimer's drug. it was a very controversial decision. there are so few actual elements for this disease, they got the panel and recommended that they give the alzheimer's drug the thumbs up. i would be shocked if it doesn't get approved. after that would come the launch and how we have to see the drug does versus its competition. if approved, this would be the third treatment targeting plaque to make market following two drugs which would join the two.

it's one that the panel recommended. it's considered a much better drug. right now it's effectively the standard of care for early-stage alzheimer's. how about these? we will have to see how much market shares are there or whatever he decides to call them. we are seeing some targets that this seems safer because it's got a lower risk of imaging abnormalities. they could slow the prescription the progression by 35%. statistically wide and big. it matters. this means it may be worth the risk. though these are very big differences for now i will say the advisory committee decision represents the incremental possibilities. frankly as far as the stock goes the drug isn't even that important. certainly not compared to the

gop dash one evolution but you are looking at what they are expecting the project $33 million in sales next year. if you want some context, they are looking at $26 billion combined next year. lilly's stock has had a huge run on those gop desk one numbers. they need to prove that they've got something more in the pipeline. i'm grateful for these projections when estimates remain as low as possible. this is an 823 billion-dollar behemoth and it's nly headed to a $1 trillion valuation. mostly by the revolution. i still need more proof that it's not nearly a one trick pony. with a deeper dive into the

challenge i suggest you join the investing club where we do the homework so that you don't have to do quite so much research for your own. you could reach the same conclusion. mad money is back after the break. [ inner monologue ] i needed some help. good thing i knew someone... ♪ ♪ or... some-thing. [ a.i. copilot ] glad you called, j. [ a.i. copilot ] it's time for an upgrade.

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>> you know we think the economy is slowing down but we are getting help from the fed until the unemployment rose higher. some stocks have zero linkage with the economy. stocks like the best of big pharma. all week i'm highlighting my favorite names in the industry other than eli lilly. we already had a great run. if you think lily feels too obvious or you just want something that might have more room to play catch with, this week i'm giving you a menu of high-quality pharma. i covered one and i've been thinking about this and it's driving me crazy. a british drugmaker that released fabulous clinical trial for cancer treatments.a standing ovation at the conference. tonight i want to circle to another one i really like the united states markets. it's been one of the best drugs

out there the etf gained only 7% over the last period in healthcare select spider fund was up by 18%. it's almost triple the ganey would have received by the s&p 500, it was a tremendous out performer. i don't think it's just a coincidence that this all happened since the ceo took over. fort davis took over and merck was all about it's phenomenal franchise. the first in 2014 became the world's best-selling drug last year with a staggering $25 billion in sales . you'd build your own company around it.

it keeps the law of large numbers as it's approved for more types of cancer. 90% sales growth is the used this more frequently for earlier stage cancers launching and more countries around the world. it keeps growing in the last quarter true to sales by up 20% year after year coming in well ahead of what this will look for. this was the first cancer treatment that had an approved for any type of solid tumor that metastasized as long as it's got the right genetic markers. its latest quarter was terrific but it was half of its revenue. they keep finding new uses for this platform. they've done so many trials, they could study its impact on new types of cancer. you'll see data point after data point which will make you want to own merck stock. this is a big one. it starts losing patent protection in 2028. while four years may sound like a long time they need to prepare for many years in advance . they want to come up with new ones to replace old

ones that go off patent. what happens when it faces generic competition? pricing collapses. looking at this one, it was the previously biggest drug in the world. remember sales peaked at $21.2 billion? then it began to face its generic competition some sales fell to $14.4 billion. that's much more than i thought it could do. they've got for years to make every penny count but the company is looking at a bunch of down years unless they could find replacements made up in the patent clip. they've been on a mission to put them on the next generation to replace any that rolls off. this process began in late 2021. they acquired a company.

it bolstered its cardiovascular pipeline. it's a treatment that they developed for pulmonary hypertension or high blood pressure in the lungs which is a condition that could be life- threatening if it gets worse. it almost always does get worse sadly. they could do nearly $2 billion in sales, or more than 4 billion in 2027. then we have prometheus biosciences, a transaction which would help strengthen the mineralogy immunology. it targets a certain protein associated with intestinal inflammation and fibrosis. it's looking to advance the drug as a treatment for immune mediated diseases like ulcerative colitis, crohn's disease, and other autoimmune to conditions. they continue their takeover pitch with smaller deals announced this year.

they told us they would snap up harpoon therapeutics for $650 million. it's an early stage drug with an approach to treating small cell lung cancer and neuroendocrine tumors. two weeks ago they announced a deal to acquire a privately owned ophthalmology focused bio temp with up to $3 billion in future milestone payments. certain development of regulatory milestones. they have more significant exposure. he's got to have a bigger pipeline. is the conference for management highlighted other cancer treatments, with what's left should allow the company

to do one point billion in oncology sales by the 2030s. they've been tremendously successful in recent years it would take way too long for me to list them all. their stock will be a victim of its own success as they start worrying about what happens with the patent. the ceo refused to sit on his laurels making a series of smart acquisitions to bolster the pipeline. some of which is already paying off with great stuff and development internally. if you believe rob davis could pull this off and i do, then they deserve to be one of the best stories and big pharma right now and could maybe be in your portfolio. it's one that's growing at 5% and when the patent expires it should have a new generation of blockbusters ready to replace it just as it should. stockwell in washington.

>> you fill me and my friend? >> i'll let you know. i did a whole song about you. we love you out here man. >> send it to me i don't know, like a what's app thing or something. we could play a clip of it there. >> i don't know. fill me in. >> so look, i've got one between the cyber attacks my barking up the wrong tree or i'm on the right track? >> unh could do no wrong in the eyes of the market. i think that the hack was horrendous and that they managed to be able to get by without ever having to come on

tv and to make this what happened. figuring out who was hurt by it. addressing this stuff because it's outrageous. that said, you've got a winner because nothing ever touches this. with this combination of a great ceo and a strong pipeline i think that this deserves to be one of the best stories right now. maybe i like too many drug stocks but i think that the economy is slow but that's what you do. oil and gas. breaking down what's ahead for the growth after the mixed action. on the eve of the meeting we will take on some of the economic signals. all of your calls, rapid ire, a lightning round. stay with cramer.

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>> price for natural gas has shot up more than 8%. this got the flexibility to pivot to where the monies being made and none so efficiently. the production play that was created was specific in 2021. it's evenly split between oil and gas but they delivered it nicer. raising the oil production. the stock was valued nicely. they could reallocate resources depending on where they end up trading.

welcome back to mad money. >> first let's just get one thing straight. i know that other people are saying they have all that, when you told me this was one of the things to do as efficiently as possible but when people step back for a second they could realize there is no independent oil and gas producer that's as well set up for this environment as yours. >> that's certainly our position here . as always, we like to speak through the results. we show that we could have it capital from gas to oil and oil to gas. a low-cost supply with another organization that quite frankly is built for that kind of nimbleness. >> the hallmark of the company is, it stays between 175-195 but the growth is 5% per year

in oil. that's kind of what i'm looking for for someone who's pledged to be as an efficient custodian of our money as shareholders as is possible. that's what you are doing. >> that's exactly what we are doing. we are not in the business to be static. we need to present to the owners and be consistent with profitable growth. all of those words are well chosen. assets, cash flow, balance with consistency. then we want to grow. that's our mandate. >> i don't want to micromanage here. this might be a good chance to sell a little bit forward or some sort of a hedge because

there really is a ramp up. >> we are looking at a hedge position, the rational exuberance is what markets tend to do from time to time. all say this, it's hard to look at the macro situation and not be deeply optimistic. whether we are talking about to the increased demands of the data centers and electricity, where it's protected or the exports it's really difficult to construct a case for natural gas. we are looking really hard at this. >> you have no idea how many data centers are being put up in the southeast and i said i

really don't. i thought the data centers would be near where the companies are. and they said not at all. there's the most abundant natural gas and i think to myself this is the way to play data centers. >> that's certainly a viewpoint. we are looking at this long and hard. decades of the northeast or in texas. i think ultimately what you'll see is data centers that not only gravitate towards the population but gravitate toward the energy source. it's easier to build fiber optics to carry those vents than it is to build natural gas pipe lines. so i think you'll see the data centers spring out in production. >> i'm surprised at a certain point we don't see what i would regard as being a deal between natural gas companies and a data center company i mean why not. they are doing this themselves so why not contact directly.

that gas company, lighted up with a consistent price over the next five years so you don't have to worry about it? >> we are looking at that one as you can imagine. i think many of our peers are trying to see that. it just makes too much sense and ultimately logic will prevail on that and you said five years or more because there's a lot of natural gas in this country ready to be brought to market. i would look at a decade or more in terms of secure supply against a reasonable contract which is a win-win for data centers and the producer. >> when i think about let's say that you've got some anticipation of the capacity increases coming on the first part of next year nd you're the person who's the cfo of one of these major data centers. or a company that's building data centers like this so it's almost as if you are the missing piece of the puzzle is how much is variable here.

i could block in the variation for multiple years that i don't have to think about what my cost is. >> it's about managing risk and certainly wind and solar will be part of that growing energy mix but there's this period of time when the sun is not shining and the wind isn't blowing. we saw that in europe in the fall of 2021 and it's been a really bad position so natural gas needs to be part of the solution, it's dispatch a bowl and provides a baseline security and it's quite frankly a really economical power source. >> opec does what it does. the premium goes down even though there's no sign to the end of the war in gaza. we don't know exactly what our government is doing with the spr in that vacuum as oil prices go down and not up so i must be missing something. >> there is so many elements to

this. opec came out. reasonable forecasters will say that they were about 6 million barrels a day off of the market over the over share capacity. they said a week and a half ago was that 3.6 of that was going to continue to be without but that about 2.2 could slowly come under the work for the market and that panicked everybody. then they came out and gave clarification so when it comes to oil markets i think that one has to be calm. one has to be confident in the american producer and our ability to continue to do what we've done over the last decade and i think that the calmness has really shown itself in the geopolitical markets. as you mentioned, this conflict in the middle east, 20 years ago, we had seen $120 oil with this type of event. because of the psychology

that's changed, and the markets predominantly because of the american producers, it tends to be patient and calm. >> is it imaginable that the price of 28 to you would be the same as the price of 25 when it comes to purchasing back stocks because it's really not that much different . >> you know, we look at value and anything that we do right now, we think that this is great in its value in the marketplace. that's why we are doing what we are doing. the price of our stock is going to be set by the arket. they had a very valuable entity. >> we sure think it is . your irrational person. thank you for coming on the show.

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>> lightning round is sponsored by charles schwab. trade brilliantly. it is time for the lightning round. the lightning round is on, are you ready?

>> it's a by draft king. coming out all the way. i'm not worried about it. thank you for the call, sharon in minnesota. sharon ? >> when they ask about this whether you think it's going to be going or not? >> i think it's terrific. we try to buy for the challenge but it got away from us again. we may have to slap someone. i need to go to cory. >> hey jim. give me your take on the microns? >> they've got the lowest cost production with a terrific ceo and it's an expensive stock. go to paul in california. >> now we are going to kristin california. chris . >> you've got a 4% yield. i like the dividend. dennis in new jersey.

dennis? >> how are you doing. >> can't complain. the average cost on this is $760 and i don't know whether to buy or sell. >> i could tell you this i don't know about this position but i think they'd done a terrific job. versus all of the future products that they have. we are going to go to gloria and florida. >> first-time caller, a longtime viewer. you helped to make my significant other a multimillionaire over 20 years so now it's my turn. which is the better investment to invest in chipotle or another? >> that's an easy one. the food taste great that the stock is awful.

joe in new jersey. joe. >> hello, mr. cramer. >> yo, joe. what's up? >> thank you very much for taking my call. a 52-week high, a spillover. >> going to michigan while we are on. lynette. >> hi jim. i'm an older income investor. i've been through the long haul. is this a good time to invest in vail mountain resorts? >> i like what you are taking. they screwed up the pricing but they could always roll it back. that ladies and gentlemen is the conclusion of the lightning round. >> the lightning round is sponsored by charles schwab. coming up, our prices are finally coming down.

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>> i think they're committed to keeping money tight in the foreseeable future but hopefully not tomorrow. it's pretty easy to stay tight here with the u.s. market. the optimism is the highest it's been all year. that means more on top of the 272,000 people who got jobs last month getting rate cuts

with small businesses that remain optimistic. the fed needs to remain in vigilant against inflation with less drilling so this won't reverse easily. the median set up prices up by 30% since 2019. it used to be 40% o at least we are headed in the right direction so yes, it's important that we leave rates higher for longer at least on the surface you know me, i look at the stocks and they are actually saying otherwise. a mountain of all sorts of steel. that things getting clubbed at 26%. eight a mountain of all sorts of steel. that things getting clubbed at 26%. 8% from its peak. they've been annihilated. we are starting to get downgrades. new course down more than 10%, real-world situations and not surveys which represent a lack of demand which mean lower prices for many important goods down the road.

according to data from the fed on pricing for property- casualty insurers, one of the most attractive sources of inflation, we were finally rolling over but that won't be a problem. wheat, sugar, soy, a deep commodity because you need it for meat and poultry is down. cotton, the indicator of the intractable inflationary category is down at 2024. even copper seen as the most innermost cost is getting pummeled. now it's getting cut back as part of the state-sponsored plan. so much for the copper supercycle. when you see these building block prices coming down you've got to start thinking that everything could blow over even housing because the commodities don't get weaker like this unless there's a problem with demand so i think that the fed

has every right to be vigilant against inflation especially withdrawals with job growth last month. health career doesn't depend on the border economy. almost all of the industries were static. something that would happen before. these are the brown chutes, it will explain why some economists keep clicking toward a rate cut. i think that the lower prices have to go through a pig and a python style before we see the fed take any action. it is just not the way it used to be. all that said, prices are coming down. places that don't lower them will lose. meanwhile, the wildcard is immigration. the enforcement does not just and then wages, the stickiest of all inflation problems will

come down too, at which point the fed can start cutting rates. i like jay powell, i like him and i trust him and i think you will figure things out because he has done it before and he now deserves the benefit of the doubt. i am jim cramer, see you tomorrow. last call starts now. right now on "last call", what a difference a day makes. apple is reclaiming the markets biggest crown. technologies beef with president biden. what is fueling the growing divide. paying the price. california's minimum wage hike taking a major bite out of jobs. we will hear from the ceo, exclusively over the our on "last call" right now.