>> chair woman in full form. full form. >> spotify in my humble opinion, melissa lee. >> you agree with dan, if you don't like that narrative. i'm melissa lee. thank you so much for watching see yo 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 "mad money. welcome to cramerica other people want to make friends. i'm just trying to save you some money. my job is not just to entertain but to educate and teach you so call me at 1-800-743-cnbc or tweet me @jimcramer. you know what? you know what? i'm kinda getting real tired of all the hate that gets directed

at this market including like a day like today and the nasdaq dipped. what a bizarrely hated market this has become. i recognize that we have a wall of worry to overcome but on a big down day, i think it is important for you to hear the other side of the trade. let me list the major objections i often hear what people are saying and let me explain how each one would end up making out for the better doom and gloom may not be a big payoff here. why not we start with one that bloom and busted glam. let's talk about apple last night we learned the biggest enterprise on earth is no longer just a tech company. before last night, apple is considered a handset company

mostly covered by pure tech analyst. by looking at how the underlying set is selling so they can predict things if apple sell more than 60 million iphones, all was good. if they sold less, all was bad the consensus was that the company would have to disappoint the and stock have to miss instead, apple reported some darn good numbers. during the conference call the narrative changes about this company and changed for the better investors realize that apple makes expensive phones and the actual razer blades all of those services they provide are selling like crazy the number of so-called razer

blade club members, i am not talking about harrys, i am talking about apple. they increased by 100 million people versus last year. that's right 100 million people more than $1 shave club. to the point that apple is running the biggest most beloved affinity programs in the world and it is also a tech company. the service revenue club is 275 million strong and growing stronger because there is a 99% satisfaction rate for the product. wow. just wow and the services are not just incredibly cool. in many cases necessities of modern life. you ever lost your pictures? that's because you didn't back them up on the cloud that is a service. like the music club, that icloud club i mentioned, the air pods

club, apple needs to be analyzed they need to be follow by the people who follow clorox and coca-cola and of course proctor and gamble itself. these companies have no wear near the growth of apple's razer blade business nor the balance nor the dividends yet their stocks trade price to earnings multiple premium apple what can i do? that is best apples to apple comparison i know. that is why the abjection to owning the biggest company has become outright silly. how about facebook no wonder the stock has traded down 18% times earnings. suddenly it was facebook with a human face secondly, they ended up

reporting terrific numbers whatever the media might say about facebook, the users and advertisers still love it. the scandal at least to young people was a nonstory. and you know, it was also an idea that when we post things oj the internet, perhaps, there is not that much of an expectation of privacy third, my biggest objection was having outside council looking into the practices that this thing wouldn't happen again. they just did this it is not going to be done by facebook people, people one impeachable character. and the outside who signed are are respected by congress. presuming there is not another cambridge analytica will urking

-- lurking in the wings snap exploded last night, people are questioning its viability. memo to snap managers, only you can prevent cash fires and from the looks of things, you are not doing a very good job. next objection raw cost i am tired of hearing raw cost being so scarey. sure, when earning got rolling, heard about rising oil cost, rising steel, and rising aluminum cost. the story has been more complicated. freight has been a problem railroad that weren't ready fora surge of demeanor. and those problems aren't being solved everyday. drivers get hired. the bottle necks, do get fixed

then i waa strong dollar can hod down the price of crude. aluminum steel, okay tough calls. any time the government mandates high prices that is what you are going to get i think the impact of the tariff is baked into the market put it all together, and it is a lot less dire than it seems. next, there is china all right, china is difficult. we don't know what our delegation will do over there. we don't know what the president's plan over there. as it turns out, maybe china is less important to us than we are to it. they don't want our soy, no problem. there is plenty of demand elsewhere in the globe for soy they don't want our recyclable

waste. we have demand for it here raise the price of clothes no worries, our recourssources l source it from more else that said, obviously the chinese can hurt us, particularly the stock market, love them or hate them, so far president trump has been playing with the winning hand and making life difficult for those who don't. not long ago north korea is supposed to be blow up the world. when i came out on squawk on the street -- now, kim jong-un, i am not kidding, talking about giving up his nukes. maybe there is a method to his

madness, people aren't laughing about this thing anymore they are thinking, oh, man, maybe he is right. most people think trump met its match with china and last night after listening to apple ceo tim cook talk about the mutual dependence of both countries to each other. i started to wonder if maybe china might be willing to make a deal when they can do the same thing with jobs in a different sectors that won't upset the world's economy or cause air pollution building solar panels and wind mills, those take a lot of people i'm not saying we can stop worrying about china, but i think there is a scenario where we come out ahead. i fully excepect things to go wrong.

i think there are will more number of costs. as apple and facebook demonstrate the end of the world is not always in the eye it is not as crazy as it sounds. jerry in ohio. >> caller: yeah, jim, a big booyah my eight-year-old triplets in ohio anyway, i would like to have your take on universal display. >> tonight core vo -- universal is a big display but i think apple is going in another direction. you can't own it take a look at micron. that one can't stop going down warned you about that. took a lot of hate on that one

too. tony in georgia. >> caller: jim, what's happening brother? >> trying to get some sleep maybe during one or two nights but proving to be incapable. what's up with you >> caller: little bit depressed. the economy is good, but the market can't get its act together kind of like 2008 all over again. >> doesn't it feel terrible? >> caller: specifically, american tower, you know, the stock has been going down the past couple of weeks, reported good numbers monday and the stocks sold off tuesday. is this merger going to affect the tower industry at all? >> they have been talking about listen, we are not going to get hurt by that even if the deal goes through they periodically have these big

hiccups, i have said to buy the hiccup, we have been right we are no the going down i am tired of the hate things can work out. and enough boxes getting checked to make you want to buy not sell that's me back patting forget the next iphone model, i will tell you how apple built its next big business. apple's buy, not the only company taking the business. and i will tell you whether dominion energy could give you a boost with a 5% yield. so stick with cramer >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter have a question? tweet cramer, #madtweets send jim an e-mail to madmoney@cnbc.com or give us a

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it doesn't matter until it matters more than anything else. i'm talking about apple's growing service revenue stream something it didn't have enough critical mass to make a difference until well, now we have before hearing this business was large enough to make up its own fortune 100 company. but the largest hundred company on earth is chump change when buried in a closet with apple. for even the much derided iphone x. that narrative is gone the key take away is the service busy 270 million people subscribed to apple's version.

130 million more than hbo. doubled the size of netflix. given that apple has 1.3 billion devices, many of them need more service. soon be large enough to take visa, the big dog. apple is thinking of itself in a brand new word, members. in a world where there is almost no brand loyalty anymore, we found one consumer product brand that is staying power, apple brand with 99% satisfaction. you would sell your souls for those numbers. not only is there no brand loyalty, there is disruption everywhere something that is repugnant to old school brands that spend billions trying to indoctrinate the public to using their brands regarding of the price tech people who thinks apple

makes a dumb machine who cares about facial recognition? apparently the chinese care which is why the new iphone is selling so well over there then figure out how much apple will turn to shareholders via spy backs. wrong. long argued this is pure lunacy. real loyalty yet the stock, as i said at the top is a steal versus that cohort this is a revenue stream that grows even if it doesn't release a new iphone critical mass giv-- ability to l into a channel of their own making between apple pay, apple music, 40 million members right there and storing your pictures in the cloud apple can roll out an infinity credit card that might

add billions to the bottom line for almost no, no cost and they would have to, all they would have to do is make one phone call to visa and you can have a buying group like an online verse of -- health care you always have to fill out those forms much if apple wants to do it, it could create apple health and for $15 a month lever r everything is run through your platform that card you carry in your wallet, you can put it on your watch. apple could own it outright and the world would pay for it, because it would be encrypted and safe apple doesn't sell your data reputation is the finest of the world. that is why they would all embrace this initiative.

and tim has to lead it, it will save more lives while reducing the health care dramatic tens of billions of dollars, that would be huge 2019 there will be a gigantic year for the margins, for this kind of business, 90% margins is the realm of possibility it is that good. much better than a razer blade will ever be last night apple rewarded investors with record cash give away then dominion energy been on the down trend so far, could there be a key to turning things around and coopa's software stick with cramer.

sfrfrustrating thing about s earning season, no matter how well companies do, they don't get much credit. when you look at the numbers we have gotten from nearly two thirds of the s&p 500, earnings have increased by more than 25% on a share weighted basis. over the last three months, the markets come down from its highs. corporate profits better than ever what exactly does it take for a company to get wall street to appreciate its fabulous earnings and its numbers for revenues we have seen business after business report strong results only after strong pullbacks. hence one of the reasons why the

stock is up a terrific $7.70%. one day. it is not just apple that is buying back stock like there is no tomorrow. most cases the market is basically acknowledging them when the huge corporate tax cut was being debated last year, wall street was thrilled at the prospect we wanted people to get hired, of course we want people to get hired, but buybacks were good back too it is like people don't notice which is why i feel compelled tonight to point out the best ones i need to give out a shout out with a tweet i saw this weekend about the huge buyback boost we have seen in the first quarter buybacks in the first quarter is up more than 54% versus the previous quarter to me that is astounding

give him a follow on twitter at hsilverb got it got to like the guy. got to talk about biggest buybacks we have seen. the largest one we have gotten this quarter was bio tec can. amgen. one-quarter they retired roughly 8.5% of share count. just as important, this represents a seven fold increase even though the amgen buyback was a thing of beauty, didn't seem to have much impact trending lower and lower did you see juliet today awful. amgen did have the most offshore cash per capita.

honestly, if they keep repurchasing at this pace, i know this is difficult to believe, but so many large companies in pharmaceuticals, yes, this could be a -- amgens are excellent. oracle clean stock last quarter. i think they could go higher they are sitting on more than $70 billion. it doesn't price me that oracle is buying back a lot of stock. seems to be a major disconnect on how well the company beliefs it is doing. oracle feels like the market doesn't appreciate the quality of its business so taking action i didn't really care for the latest quarter at least putting their money where their mouth is

microsoft sheld out. insignificant. foot race i mentioned for stocks to get to a trillion dollars buyback made its stock behave like it is a buyback killer enterprise next up is boeing bought back 3 billion stocks in the first quarter. even as business remains incredibly strong, they can't make enough planes to said all the demand unless target is specifical -- h they are in there buying this stock backhand over fist if the chinese don't want boeing

planes, dozens of countries in line behind them, would be delighted to go up the queue united health, bought back $2.65 billion. and hey, why wouldn't they business is good for them. and as their managed care competitors are being sold or combining. i actually find that to be close. maybe there are others that are in the rival remember i told you to buy cnc on friday, that stock rallied a quick six bucks today from a stock offering and i think unh shareholders sold their own stock i think you need to view this weakness as a gift and then there is the buyback to

end all buybacks talking about the one from apple. everything these other companies have done pales in comparison to the 100% starting in the june quarter and 16 dividend boost by manager. considering the unprecedented size our intention is to execute our program efficiently and a fast pace then continued we believe th stock is undervalued so we have a bias towards the buyback as these prices $100 billion buyback equalities to 11.5% of share count.

let's not ignore the fact that last quarter alone, apple had the largest buyback in history during a single quarter. apple is going to be disciplined with its purchase but he also said they wanted to deploy the capital quickly. and having apple buying vast quantities of its own stock is going to make this stock easier to own even up here. which is mostly a function of the law of large numbers finally a buyback this big makes a statement. apple tells you that its stock is far too cheap here. given that it sells for 13 times net earnings, and it is the ultimate beloved consumer green company, i think they have a point. i trust tim cook and his team to execute here apple has repurchased 2 billion worth of stock when the stock drops they are there. last night's announcement

grabbed a lot of attention, the bottom line, today apple got credit but there are tons of other companies turning huge lugs of cash i think you will miss out if you ignore them. do some homework find the ones you want to buy and snag them before the companies buy up all the shares themselves allen in new york. >> caller: hello, jim cramer, big booyah to you i want to now about pepsi. it has been crashing back to its price two years ago. >> 3.7%. and you are dead right since they did beat the numbers, the problem is of course this consumer product group is way out of favor which is why we

pulled the trigger for t actualownersplus.com raj in california. >> caller: i was looking at cloud era and it recently dropped. >> it took me by surprise. i put on the sixers and they won the game, that is all i had to say about that night gilbert in maryland. >> caller: yes, jim, i'm a first time caller and i have, i own some gm. and it's come down the last few weeks. however, i notice that the ceo

has announced a buyback, do you think there will be a rebound? and if so, would you sell into the rebound. >> no. the stock is too cheap for me to tell you to sell kids aren't starting to buy cars until they are 25-years old. they have the electric problem the main reason i want you to sell it, is theit is cheapest sk in the s&p 500 i like big buybacks and i cannot eye. tons of other companies doing the same watch more "mad money" ahead i will find out why dominion energy is hoping a focus on renewables can help turn its stock around it needs to do something companies that works with proctor a

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♪ . as the yield on the benchmark ten-year treasury pulled back from 3%. a bit of a bounce on utilities tend to be extra sensitive to interest rates what do you do with like dominion energy. what they reported last week, the company gave you solid results. they delivered a terrific ten cent earning it looks like the regulators came in line

i think the merger is going to bring out a lot of value and a new capital raise that took some by surprise, dominion is down 20% for 2018 i think it is pretty attractive. let's check in with chairman and ceo of dominion. welcome back to "mad money." >> nice to see you first,i want to congratulate you, you did your incredible natural gas project. it was a monster endeavor and i have seen few people might have big cost overruns. you didn't on this company product. >> it came in three years in construction on time and a budget of $4.1 billion three years of permitting. three years of construction. but came in on time and on

budget very pleased and ships have been on their way to india and japan under 20 year long-term capacity payments. >> let's talk about the capital as you did a lot of people felt there was a period when these mass limited partnerships were so tax advantage, that you would be known as drop down one and sell stock and be able to raise capital. but the markets were unforgiving, and do you think you have raised enough capital the other way you did it, is that now behind you? and we don't need to worry about more stock >> no more stock until at least 2020 we are looking at an asset sale to make up the balance has to do with complicated rulings out of the federal energy regulatory commission that we and a lot of others are asking them to rethink and that is what caused the

significant decline of the stock. we have taken care of our financing needs for the next three years. >> let's talk about -- >> subject to the sale. >> tc pipelines, slashed their distribution because of ferc what happened and do you really think there is a chance that ferc could change its mind this has hurt. the entire effort to get oil and natural gas to market. >> going to make it difficult to finance a lot of gas infrastructure they reversed a policy that has been in place almost 40 years with almost no notice. something that a lot of people have asked them to reconsider. i think there is a significant chance they will reconsider. how they will actually rule during that part of the process, i don't know but we were not willing to wait for that that is why we went ahead with

our secondary plan which we put in place that you referred to in a minute equity issuances are behind us. >> i hope so it is discouraging for a lot of people talk about your most recent efforts to do renewable. seems like they have dropped in price to where they are competitive with natural gas. >> installed solar from the west coast to the east coast. solar farms in nine states, wind farms in two states. a lot more solar over the next few years, looking at an offshore wind farm that would be part of our regulated asset base in virginia. you need more pipeline infrastructure to back up the solar or wind because obviously

it is an intermittent source of power. so you need a more reliable backup source and for that, you need more gas infrastructure. >> how much of this is driven by customers. when i speak to companies particularly companies like amazon, and google, they don't want to have footprint they tell me coal is dead. is that the new narrative. >> you hear a lot of that from our large customers. over 1/2 of the internet traffic routes through a lot of that has to do with our inexpensive rates. a lot of fiber infrastructure. we have had a lot of negotiations with large customers like that to provide them all solar for their needs going to be a new, a very large facebook data center here in

virginia microsoft we have contracts with >> well i got to tell you, it is ridiculous that your stock is down as much as it is. 5% yield seems great for me. thank you so much. chairman and koechceo of domini energy back after the break - i love my grandma. - anncr: as you grow older, your brain naturally begins to change which may cause trouble with recall. - learning from him is great... when i can keep up! - anncr: thankfully, prevagen helps your brain and improves memory. - dad's got all the answers. - anncr: prevagen is now the number-one-selling brain health supplement in drug stores nationwide. - she outsmarts me every single time. - checkmate! you wanna play again?

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>> announcer: lightning round is sponsored by td ameritrade it is time it is time for the lightning round on cramer's "mad money." that's where i take your calls rapid fire we'll play this sound -- [ buzzer ] -- and then the lightning round is over. are you ready, skee-daddy? it's time for the lightning round on cramer's "mad money." grace in florida. >> caller: yes, hello mr. cramer i was calling to ask you about staff, i bought it at 20 and i was wondering if i should keep it or sell it. >> i'm sorry, i think it goes lower. let's go to marie in washington. >> caller: hello, jim.

i've been wanting to jump into the marijuana sector because of its anticipated medical value. what do you think of gw pharmaceutical >> i like them do need off label use. but a standardized pill that has cbd, that's perfect. brandon in new york. >> caller: booyah, what's going on, jim? >> not much. >> caller: we met at book signing. >> that was at a giant costco. that team was great. what's going on? >> caller: calling about limelight. llnw. >> i gave a seminar. i think it goes higher i like it. kim in delaware.

>> caller: booyah from the first state. my stock, i'm calling about is sea gate >> over done on the downside people got too negative on sea gate i think this one is less expensive. george in ohio >> caller: hey, jim, i appreciate your nightly perspectives i am calling about dana -- i am wondering if it is a hold, buy, or sell. >> finest company we own in the entire portfolio of the travel trust right here, right now. life size division of ge i need to go to mark in wisconsin. >> caller: good afternoon, "mad money" jim, how are you? >> good. how about you?

>> caller: excellent my question is general mills. >> holy cow, that is just ridiculous this company is not going under. i have got to tell you, i was wrong on general mills i will double down here. don in texas. >> caller: hello, big booyah too you. my question is, the past few months has only been between 98-103 texas instruments. >> one day the negativity around the semiconductors are stop. and then you are going to say why didn't i buy at 102. august from new york. >> caller: booyah from new york.

my question is fire eye. i i love that cohort and that, ladies and gentleman, concludes the "lightning round"" >> announcer: lightning round is sponsored by td ameritrade it. you know, it's made me think, i'm closer to my retirement days than i am my college days. hm. i'm thinking... will i have enough? should i change something? well, you're asking the right questions. i just want to know, am i gonna be okay? i know people who specialize in "am i going to be okay." i like that. you may need glasses though. yeah. schedule a complimentary goal planning session today with td ameritrade.

while the border market has gotten dicey at length

i am a believer of the cloud this is a growth theme that will keep working regardless what happens with china or interest rates or inflation take coupa software that helps businesses manage their spending decisions. what salesforce does, they guys do for expense management. so far coupa has left the cloud kings almost in the dust up almost 50% year-to-date let's check in with rob bernstein, find out more about how his company is doing welcome back to "mad money." good to see you. you have 44% growth. how are you able to do that? >> we are building our way into

this market opportunity. a lot of companies get their arms around hundreds of billions much dollars in spent and optimize it and spend money. everything that has to do with spending money on the goods and services companies need we help them to apply best in class cloud platform technology to go -- get it down. >> stocks at 52-week low, we hire coupa, and what is coupa going to do for us >> they may begin with expense reporting. very simple. you are traveling, at a restaurant, take a picture of your receipt data gets off it and you get reimbursed you take an uber, you pull it up, you get properly reimbursed.

not all spend is after the fact expense reporting. you may need pre approval. so let's say you are working on a new detergent, and you need a beaker, you go in to coupa and you request a beaker, and see one, and you see the preferred pricing that the company has negotiated maybe they want to work with companies that offer the best pricing or suppliers that offer green programs or social responsibility programs. the company routes purchasing directly to the suppliers they want to work with. saving them money and giving them the opportunity to optimize brand. >> a lot of companies say they save their cert customers money and they tell me they can do these procurements cheaper are you taking business from those guys or is this one of those things that so few companies have these expenses under control.

>> unbelievable how much of this stuff is being done with paper, and companies don't understand where they are spending their money. >> in 2018 >> unbelievable how much it is done this way. you take invoice processing. hundreds of billions of dollars of spend running through coupa they go into our coupa supplier network, 4 million suppliers, see their orders come in and flip them into invoices and they get matched. and no human intervention whatsoever if they find they are dealing with suppliers that are offering them bad deals or not shipping on time or other issues with them we will then help them get routed to suppliers that can deliver for them >> i thought salesforce was the most digitized automated in the world. they were doing it differently >> they have been our customers for seven years.

i was watching today, tesla, uber, snap, these are now customers of coupa, streamlining their spend management through our platform. >> no wonder you are growing so fast rob bernstein, chairman ceo coupa software "mad money" is back after the break. (baby crying) (slow jazz music) ♪ fly me to the moon ♪ and let me play (bell ring)

>> consumer good stuff is getting crushed. industrials getting killed this market has gotten so negative that if you get any spark of good news out of china, you could have something like what happened to apple or facebook yes, it can still go lower but as it gets lower, a lot of time it gets cheaper i like to say there's always a bull market somewhere. i promise to try to find it just for you right here on "mad money. i'm jim cramer, and i will see you tomorrow

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