protect my longs s&p puts. >> fun show. great to be back. >> great to have you back. >> other than my face, you know what's breaking out there? >> no idea. >> look at the screen. 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" upon welcome to cramerica. other people want to make friends, but my job is not just to entertain you, but teach you, call me at 1-800-743-cnbc.

>> stay in the game, bite the bullet and disrupt the industry where you get disrupted and you know what? you end up like road kill on a good day where the dow gained 148 points and the disruptions were some of the biggest pointers that's been a major recurring theme in this market since the year began i know they've been dominated correctly by the decision for the president to ground the boeing 737 max, joining the rest of the world and keeping the plane from flying until we find what the heck causes us to crash, and it's a tragic story and many asked me about the impact on boeing and the stock you know the stock went up today, it's a little too soon, but i have this. i have total confidence in the boeing company to get to the bottom of this and restore any trust lost in the company if that's enough, you should buy it i want to focus today on this disruptive theory is also the

losers that come from not disrupting look at the financial technology stocks to start. visa, paypal, square, america's best mastercard and the banks were able to rally for once and for month, hedge funds have the big tech plays which have no interest rate risks instead of traditional backs. paypal has made its de facto disruptor and cash machine via venmo. square has taken the backseat to no one and once it's installed with millions of businesses, they start against the cash register receipts, and that's the traditional banks and it's way too hard for them to do that these guys are better than the banks because they have access to the receipts and they know who is likely to default what else? facebook, alphabet and amazon has disrupted the entire advertising market, the companies let businesses do targeted advertising and places where consumers are most likely to buy at that moment. that's been a disaster for traditional advertising. the ads supported media and the

subscription-based model because they just don't make any money in the gifts at all. you want radical disruption? here's a theory for you. look at the medical device company that has up ended the way we do type 1 diabetes and cgm paired with diabetes insulin pump and makes a laborious process and makes it nearly effortless and painless. it's been dominated by medtronic and johnson & johnson and it dropped out of the competition and the industry has changed the landscape. these two devices, glucose monitor worked together like an artificial pancreas. go watch diabetic danica who has a youtube show about all things diabetes and a crystal clear run about how those were, and of course, knowing the research for these companies and the videos are unprofessional and it's informative. i want to go to tim cook and aka tim apple and say eureka, and forget the streaming video service and go by dex com and

you know that monoes of missing and put them together and spend $ $26 billion which is a fraction of what they spend, and the glucose monitor, this works and this changes things. they can give the hardware away for free and charge you $10 a month for the service and it would be an instant hit among investors who see that service businesses aren't disrupting that's the nature of that pharma business, isn't it i suffer from migraines. and i was trying everything from extra strength excedrin to botox, waste of time and now they are not one, not two and three different companies, amgen, and tegra that have provided relief for thousands of people and they're not yet in the ballpark and there will be hundreds of thousands when this is over in the firstining and according to many doctors they are more effective than botox. we haven't been following this

one for ages and one of the first guests on this show was a man was the ceo of regeneron and he talked about the drug that was far more effective than the competition. i asked him how he knew. he explained every month that a doctor would inject you in the eye, and that sounded awful. then he told me that the existing standard of care had yet to be injected once a week well, that wasn't hard for me to recommend regeneron, was it? the stock was nine and it's now 409. and you end up with a red-hot stock, and what happened to the ones that didn't innovate? go look at that lineup of products, will you something is rocky and bullwinkle and you stepped way back in the machine, mr. p peabody. stuff lasts forever, but i regard it as david for a long time the stock was popped up by analysts and wanted you to believe that it was paving the way while kraft heinz lays off a bun of workers and

boosts profits not how to grow organically. never. >> they were in the fire department they fired so many people, but the stock finally melted down once the stock figured out this business is plain terrible and it had to be cut. is there any way out of this dilemma or will kraft-heinz end up like road kill and some of them are takeover business, but it's too late. i have anned a i have an idea because i like to be constructive. i think they should buy a cannabis company hear me out. he became a strategic adviser for cannabis, one of the fastest growing marijuana companies in exchange to buy 20 million shares at least to start when i caught up with nelson on the board of procter & gamble and used to be on the board of heinz itself and the monster shareholder is no longer a board member, let me just say each said cannabis is the next frontier and i agree it could be used for snacking, drirngin

drir drinking, medicine you name it it can disrupt up to 500 business in commerce from analgesics and tobacco and think, coal. the device companies know this it's taken a big position in cronos and it's a solid, well-run marijuana company in exchange for a $1.8 million investment corona modelo, and the world's largest cannabis company in the world. anything that can be eaten or drunk and it is a nice huedge they already know how to get you intoxicated. the tobacco companies are obvious players and selling a weed may be a step up from selling cigarettes, yeah, even for jewel. watermelon jewel hey, yeah. let's have some in high school during the break that's why i think kraft heinz needs to work quickly. they sell maxwell house, bravestone and cottage cheese. that would prove without a doubt

that kraft heinz is a company with a forward-looking agenda. if i were running kraft heinz i would sell the stock swap with cash and take cronos and scoop up some of yaurora in exchange for cash i don't care anymore, and i just know what's right. they're worth buying and at fabb alphabet and that leaves room for other package food companies that are otherwise going to be moribund here's the bottom line try to reinvent your business has its risk and it has a dicier prop tigz. you disrupt or get disrupted and the companies that do nothing have the stocks that should be sold how about we start the questions with daniel in new york. daniel >> hey, jim. a big fan of your show >> thank you thank you, my brother. >> first i just want to say thank you for helping me and many investors become smarter investors. >> square one.

thank you. >> so my question is about snapchat since the ipo snapchat dropped under $5, but had a nice comeback the past week i know its earnings fell off the bus, but you always say invest in companies that you use. i and million of millennials use snapchat on a daily basis. whenever i want to take a picture i open up snapchat and take a picture as opposed to using the phone camera do you think it still has pots earn with only a $14 billion valuation? >> if they can get it to 13, 14, anything can go up like that i just don't think the company is well run as people would like and i don't like the shareholder structure, but yeah you can trade. it's up from an abysmal low. why don't we go to harry in south carolina harry! >> thanks, jim, for taking my question. >> of course >> back on november 8th you had the new ceo of dell dupont ed green on your show now that they went issued and shares of dow begin trading on

march 21st, i believe, i was hoping you might comment on having him back as a guest and giving your current opinion on the stock. >> i have not been that thrilled with the dow's performance, but boy, we round tripped and that is just disgraceful. we talked about it tomorrow at the 11:30 conference call, but i'll tell you this we are bearing down on it, and you've got to buy. okay, guys if you want to stay relevant, and you have to learn to disrupt your own operation and "mad money" tonight, could investment in t.j. maxx maximize your portfolio profit well, i have to tell you if there's still a retailer, i'll let you know. then, dude, you're getting a dell, remember that? we have an interview with michael dell i sat down with the ceo earlier today to find out what's ahead for his great company and wells fargo ceo got grilled on capitol hill today it might have been a tough day for the company, but how did the shares do? i'm breaking it all down so stay with cramer. ♪

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 call at 1-800-743-cnbc miss something head to madmoney.cnbc.com. you should be mad at airports. excuse me, where is gate 87? you should be mad at non-seasoned travelers. and they took my toothpaste away. and you should be mad at people who take unnecessary risks.

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♪ ♪ when a company with a fabulous long term track record expresses a tiny bit of caution about the future and its stock gets mauled by the bear, you might be getting an incredible buying opportunity i want you to look at the trajectory of tjx, the parent of tj maxx, marshall's and home goods. it is almost totally immune to amazon ♪ hallelujah >> tjx keeps putting up great numbers and the stock keeps marching steadily higher for months the bears have been telling us that tjx's business model is unsustainable, at a

time when so many other chains are shutting down underperforming stores, tjx keeps adding them and spins very little on the web. they hear these guys will eventually get steam rolled by pretty much everyone else in the retail industry. so when tjx reported a terrific quarterback in november and not up to the snuff of tjx the stock just got annihilated at a time when the rest of the market was selling off and everybody else is panicking -- simply about retail. tjx expressed caution about the future and so, of course, everyone acted like the sky was falling. >> sell, sell, sell. now, look, the stock had declined from $56 at its highs to $49 when the day before reported november 30th and it bottomed at $41 and change by christmas. what an opportunity that was we just learned from tjx a couple of weeks ago and it turns

out there was nothing to fear at all. the company put up a spectacular quarter and there's supposed to be a classic case of upod with management under promising in november so that they can overdeliver, o.d. in february. while the stock has come roaring back, tjx is down $4 from the october all-time high and it's doing much better than what we thought it would be way back then it sounds like an opportunity doesn't it >> tjx is a very different model than most other retailerand a dick's sporting goods and it is alive because they're spilling out their online presence to fend off amazon, rather than sourcing the purchase directly from the furniture makers they buy it up from other stores and the retailers aren't doing well to bring in new inventory and go to tjx and excess inventory is the bane of the traditional

retailers' existence and it's pleasure for these guys and every season you get new product and you need to get rid of that and tjx snaps it up and dated merchandise and discount, right? because these other stores had no choice, but to get rid of it and they turn around and sell it to you as a substantial mark-up. the traditional retailers are doing badly. they have no choice and they sell it to tjx if they can't sell it to you tjx buys the leftovers from department store chains and they do it on the cheap which means tjx can beat amazon on price amazon doesn't do that you won't find a better steal on this stuff anywhere else tjx and home goods does the same thing with tchotchkes for your house. in keeping about the web even more than when it's convenient is it allows you to comparison shop retailers can't rip you off because you can do a quick search to find the price and that's terrible for the margin,

but tjx was never ripping you off in the first place the company has always offered its customers great deals on all sort of high-quality merchandise. i've got one in my building downtown and sometimes you just go to see what's really cheap. i might pick up some t-shirts and some jammies, and i call them that. i buy all my things there except for the one in milan this is the bargain based business that works regardless of how the economy is doing. by the way, it is some time and i used to go with my mom to marshall's of course, they made me go home and change anyway, look, there's only been a single year where tjx saw same-store sales shrink. oh, what a great business model as long as you don't do anything too stupid like unfortunately burlington stores did and parkers that didn't stock

enough, and i wanted those guys to come on because i know this will get it right. so boeing management and come one, i think you might be in the right place, right time now. tjx has never been that bone headed let's go over what happened with the november sell-off because i want you to be prepared and the stock gets hit even though i think the finals have shrunk tjx reported a strong quarter with the 11% same-store sales growth even though wall street was looking for 4% and the forecast was more bullish than investors hoped for. management's guidance was lower than expected and that's what panicked people. everybody starts going and tjx will have a bad holiday season and since the company doesn't give interim updates we have to wait until the report in april 27th and as it turns out, t.j. has had a spectacular holiday season and it was slightly better than expected revenue, the real kick is the same-store sales growth, 6% shocked wall street because wall street was

looking for 3.4% and the best part is the strength was treated by higher traffic and management was being conservative and when tjx had gained conservative guidance and it didn't hurt that the company boosted its dividend by 18% and it was a 1.5 billion addition and we also learned that the company launched an e-commerce platform and that's right, 2019 and you can't buy anything from marshall's on the internet wow! we're not doing this because the competitors are forcing them to do it and they just see an opportunity like they saw with t.j. max you still need to go to the stores for the treasure hunting experience that i love so much no wonder the stock has rebounded to $52 here, and i think it has a lot more upside when you see the retail that's putting up new stores all over the place and it's something that you want to stick with.

t.j. max and marshall's are on fire and they go up 5% last year and those increases in traffic and same-store sales don't seem to be flowing through the bottom line however, matthew boss at jp morgan argues that the company is leaning to this year and the margins are poised to expand moving forward this is the bottom line on this important story, at the end of the day there aren't many retailers having tremendous success in the brick and mortar side of the business tj maxx is one of them i like the stock here and i'd like them more if we had another breakdown like we had earlier. i doubt that we will it's too good a situation. stick with cramer. coming up, cramer is getting a dell dell technologies is back on the ticker tape, and the legendary founder is on "mad money". >> we are the essential infrastructure company >> next.

for years they operated off the tape, reimagining their strengths with gaming, enterprise and cloud now trading publicly again, can the man who made hardware look easy build a bright future for his namesake company what do we make of dell technologies now it's a publicly traded company again. the dell of today is very different from the personal computer focus dell that took itself private and it has become a major player and software thanks to the acquisition of emc. an 82% stake and cramer fife think of dell technologies as a one-time pc assembler that's now the major arms dealer software and hardware to the rapidly growing data center business as well as the internet of things i'm betting it's got a bright future and certainly better than what the stock indicates and

i've said it over and over it's way too low and earlier today we had a chance to speak with michael dell, founder and ceo of dell technologies, take a look i've got to tell you your story's remarkable and you know that you had the humble beginning at the university of texas building computers to what is now the best technology purchase in history. $67 billion for emc. what a journey >> that's right. i mean, we combined the leading i.t. infrastructure companies in the world and a lot of people talked about cloud infrastructure and you take the software infrastructure that vmware provides and emc and dell and we created the world's leading i.t. infrastructure company. last year $91 billion in revenues and the cloud data center business grew, 19% and almost approaching the $40

billion business, and we're gaining share and growing faster than all of the leading competitors and really have positioned ourselves as a company that can help our customers with the digital transformation and their journey to the cloud and modernizing their i.t. environments and their workforce environments and also i.t. security >> right people also would know, storage number one server number one, and these are businesses that i don't think people knew that dell was in, but when you were private, you built this empire. >> absolutely. storage, we're larger than number two, number three and number four all combined >> we grew more than half of the industry growth last year was dell emc, and again -- >> it's actually not that hard when you think about it in hindsight, when you combine the leader in storage and the leader in servers and the leader in virtualization and software

infrastructure software. so you've got the winning hand and customers are betting with us and we have 99% of the fortune 500. millions of small and medium-sized businesses around the world and now we continue to grow very nicely >> speaking of betting with you, say investing. i remember when you came public. i was working at goldman sachs and the compound rate, 13,500% 27 times the s&p for your previous iteration, how do you beat that? can you come close to that now >> well, it would be pretty hard if you do the math, gym. >> but you're a winner and i want people to know who you were i'm old enough to know and i want others to know. >> look, we have a fabulous business and an incredible team and 20,000 engineers, scientists and phds constantly innovating

and we invested well over $20 billion in the last five years in rnd and the combined innovations and the customer relationships that we have, i think we're incredibly well positioned and when you layer on top of that what is happening in the world today, with the explosion and the number of connected devices and the absolute explosion in the amount of data and 5g coming around the corner, the requirement for new infrastructure is tremendous, and we are the essential infrastructure company, whether it's in the -- you know, wherever that may reside, right? the public cloud, the telco cloud and the boom in the edge, we are going to, you know, serve up that capability better than anybody on the planet. >> i think that there's demystifying we have to do i think the analysts covered nice is the sum of the parts i think that they're not including deferred revenue and

not to be too nitty-gritty, but i have to make money for people and they're not looking at the excess cash flow are those better ways to analyze the companies just looking at eps? >> we'll let the analysts decide that. >> i want people to recognize, it grew 15% year over year and certainly, when you look at the profiles of the business, and it is a very different business, and a mentioned the 20,000 engineers before, and almost 90% of them are software. so it is a very different company than the company we had ten years ago, and look, you know, customers are voting with their dollars. >> i do think people are underestimating you. you have a dell and they're looking at you as a company that figured out how to hook up the pc to this network and how did you have the vision to note, that you're taking share still,

24 of share take. >> right, but how did you know that you had to say that wasn't enough most of the companies haven't been able to pull it off >> i don't mind being underestimated, okay that's a good thing. we talked about that earlier look, again, you know, we had an alliance with emc for many years. we had a partnership with vm ware and it was pretty obvious to us that when we put all these together you create an incomparable set of capabilities and a platform that is incredibly powerful for this future that is being built out right in front of us, and you know -- >> the digitization -- >> your series has been much more than anyone anticipated, including us, by the way we grew over $11 billion just last year to record 91 billion

so it's working very well. >> and you also got a billion dollars far more than people felt and my problem is going on the web, looking at twitter and people are saying wait a second, why should i buy vmware which is a stock that i am recommending and mathematically, how is it possible if vmware, could be bigger than dell it doesn't make sense. can you help people understand the math >> we do own a little over 80% of vmware. i'll let the analysts do the math >> my job is to -- we grew every one of our businesses last year at a double digit rate my job is to lead this incredible team and continue to grow faster than the industry, and over time we'll figure out that this is an incredible company, and the right things will happen. >> you mentioned incredible team one of the things i have to do

in 2019, i've always wanted to do what's right. >> but you have been an unbelievable ethical business, and you've won a number of awards for sustainability and you and your wife susan have to do more philanthropy i'll say it, okay? i have seen what you've done with health care and what you've done with the hospital and i've seen what you've done with the monumental effort of the hurricane and how do you divide your time, but more importantly, why is it so important that you do these things both for yourself and for your team and for your wife? >> we've been given a great opportunity and, you know, i think if we look at the world economic system today, you can say it's not working perfectly for everyone. >> no. and we have been very fortunate, you know, in august of 2017 when

hurricane harvey showed up on the coast of texas, my wife and i were watching this on television, and they showed a neighborhood in houston, texas, and it was actually the neighborhood where i grew up and rode my bike every day on the streets that they were showing and the water was up to the rooftops. >> wow >> to watch that and not do anything is irresponsible, and so yeah, we organized this rebuild texas, campaign and raised $100 million and pitched in 36 million, but you know, it's a great privilege to be able to make a difference and to, you know, do so not just with our company, but personally and my wife is super involved in running the foundation. >> last question and let's feature, sometimes i worry that a.i., and our artificial intelligence machine learning

that these things will leave people behind, michael we know that a.i. is the future and how do we protect people while we advance and how do we control it in a responsible way? >> i think we have to, as humans, make, you know, these machines reflect our humanity and do it in a responsible way and an ethical way, and look, the pace of technology change is going to get faster and faster >> you know that you've done more in your area than anybody >> it absolutely is, and we have to think about and figure out how we engage more of those people, but also, look, i am a huge optimist that technology will do far more good than bad, and it's addressing all kinds of opportunities in health care and education in sustainability, the environment, certainly,

businesses are becoming more productive and more effective and ultimately, technology is about enabling human potential. >> it's about enabling human potential and we're spreading it out and bringing it to the edge and not disenfranchising >> the last 35 years have been remarkable and amazing, but actually this is just the beginning. we're still in the pregame show to what's going to come in the next 35 years. >> we'll leave it at that. >> that's michael dell and the chairman and ceo of dell technologies >> what can i say? it's the most inexpensive tech stock i follow thank you, michael >> thank you, jim.

yesterday was a rough day for wells fargo and its ceo, tim sloan who got raked over the coals by the house financial services committee it's almost painful to watch for the bank's past transgressions you think wells fargo's stocks should have been clobbered yesterday, right i mean, you had chairwoman maxine waters and no fan of sloan in particular or the financial industry in general running the show she kicked things off by arguing that wells fargo was too big to manage implying that it should

be broken up you have the representative calling for sloan's head accusing him of dishonesty, and calling the sincerity into question and wells fargo has changed its way and there are a lot of big changes and what happens? i'll tell you what happens the stock barely gets dinged as fiery as yesterday's proceedings were, there is almost no discernible impact on wells fargo's shares down 11 cents because we all knew sloan would be turned into a congressional pinata, and the question is whether we would learn anything new that would impact it going forward and there really wasn't. so that makes me wonder, has the pessimism about wells fargo's stock already peaked i know the bank stocks have been in the favor of the wall street fashion show, and far from it. i know wells fargo deserves to be raked over the coals for what it did, for the millions of fraudulent checking accounts and

when the scandal broke in 2016 to never charging and auto loan, but i know sloan agrees with me on this, which is why the company has spent more than two years cleaning up its corporate culture and while that doesn't change what they did, it makes me think the stock may have less down side than many people think. if you believe all wells transgressions and misdeeds have been uncovered and have you not expected the shoe to drop and i'm not because the company's been under a microscope for three years now, and then there's a real case to be made for buying wells fargo's stock right here how can i watch that hearing yesterday and figure out recommending wells fargo, even if members were congress were the leader of the criminal enterprise airing the company's dirty laundry all over the nation's capital and he stayed focus and stayed on message and he even showed real contrition >> sloan seems to understand that he's being slowsly watched and he needs to get wells fargo back on the straight and narrow

and maybe it was all an act, but if so, i actually believe them and from my perspective on investors, that's what matters if all these worries can be put in the rear-view mirror we can judge wells fargo in the merits and an actual business again when tim sloan came on the show in january, i asked him if the company would start playing offense after years of playing defense and here's when at he sd >> we are playing offense and i think the fourth quarter which was not the -- it was a great quarter. >> yeah. we made $6.1 billion in the quarter and when you look at our earnings per share for 2018, with $4.28, and it was the highest earnings per share in 166 years, right so we're definitely playing offense. >> i don't know. it sounds pretty convincing for me and not only did wells fargo generate record earnings they had the highest loan growth

and the deposit quote picked up, too. i'm not saying the company is in great shape and you know that, but it's doing better than it was and that's what matters and see what changed, and it's the net interest margin and what they pay you for your deposits and what they charge for loans and increased a bit and it's a measure of cost control down from 65 to 64.6% and loans were effectively flat year over year and they both flew versus the previous quarter most importantly, wells fargo was more profitable than last year, which are on equity and something the record earnings per share numbers yet, since the beginning of last year was the stock that was down nearly 18%, making this the worst performer of all of the banks. wells fargo has tanked at these levels it sells for less than nine times last year's earnings estimates and it's 3.6% yield and they're made to be

beaten i think yesterday's hearing was the perfect moment for wells fargo to put in a bad sentiment low, and think of it as a hatred low and i doubt the stock would have more downside and the house financial services committee and this time, and tim strong won't be the other one on the hot seat and they'll rake him over the coals and let me put it like this the last time sloan spoke to congress where elizabeth warren told he she should be fired and just before wells fargo went on the last real run, and that rally went into a brick wall and they slapped an asset cap with wells fargo and that got gutted and when the penance paid. i'm not saying wells fargo is ready to rally big, but if you think the risk reward has gotten attractive at these levels and so attractive that yesterday's contentious hearing barely

caused it to get dinged and i now feel like the stock has been derisked and you hear so much about what happened three years ago when people stop caring. bottom line, for those willing to be patient. wells fargo is doing a lot better right now than it was a year ago and is not getting any credit for it. this may take some time to play out and i think the down side is contained and they have a hostile congressional hearing and i would say it's pretty darn insulated and it serves to trade higher at least as high as its com padres they look great with rates lower and they have a great environment with retail lending there is real strength mad money is back after the break. - hello, i'm brad castillo.

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how are you? >> i'm well. my dad got me into trading the stock market. >> thank you >> okay. and i am inquiring about apria, apha >> the guy who i think runs it day to day is irwin simon, the old friend from hanes celestial and i think he can pull something off here i'm not betting him. i don't want to. >> let's go to tim in florida, tim? >> boo-yah, jim. this is tim in st. cloud, florida, and nova gold, mg >> yeah. novagold it's just really, really speculative and it's not worked out for a lot of people and i say you have to stick with bristol and barrett. that's what i want you to do >> how about we go to brad in missouri. >> thanks for taking my call and thanks for what you do for us. >> my stock is inspire >> i know this company neurostimulation i think it's good.

neurostimulation is the future as we know, when we interviewed omar from medtronic he talked about it as being terrific that's technology. let's go to dave in the illini >> dr. cramer! >> dave! >> we are nearing the completion of mad money with jim cramer congratulations. >> well, you know, thank you, dave we've been around for a little bit, trying to look younger than when the show started. what's going on? >> you're doing just fine. >> thank you >> jim, my stock for today is not the old relic, but the new relic, newr. >> i like it that is an an gram for loose journey. like the lab room or roman cat, and rosemary's baby. i like new relic and it's come down a lot >> wooe n >> we're not dumb, we're going to pierre in michigan. >> boo-yah

hey, jim this is pierre calling from the motor city i just wanted to get your insight on edward life sciences. >> i've been recommending that stock from a hundred points and i'm not backing away yet and that, ladies and gentlemen, is the conclusion of the lightning round! >> the lightning round is sponsored by td ameritrade d, yo? well sure, at first, but jj can help you with that. jj, will you break it down for this gentleman? hey, ian. you know, at td ameritrade, we can walk you through your options trades step by step until you're comfortable. i could be up for that. that's taking options trading from wall st. to main st. hey guys, wanna play some pool? eh, i'm not really a pool guy. what's the hesitation? it's just complicated. step-by-step options trading support from td ameritrade

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we've got a lot of stocks, and i wonder how much of this is simply what i call the greater fool theory in action. you buy something and then another person just buys it again higher and then you buy it higher and it's about ult multie expansion meaning that one person pays more than another and another and another. the most visible ones are apple, facebook and alphabet. they're undergoing a huge amount of spins think about it what happened with apple as the stock rallied from 142 in the beginning of the year. >> what? >> there's nothing about rising earnings per share in any of the research the only thing i can see is that data showing the iphone shares have plummeted to me it feels like investors simply looked at apple and decided to pay a higher price to earnings multiple for a company that makes less for cell phones these days and more than services how about facebook one major development, mark

zuckerberg has become as determined to dispel the impression that facebook sells the data and commerce to the point where he's potentially cut back revenues and introduced margins and the stock has surged anyway from 123 to 173 once again, greater multiple expansion, and paying much more for the same or even reduced estimates than the people who owned it before you. it may be the most multiple expansion theory and the entire bunch and the stock packed on more than 200 points from the bottom and last year and the only new development was the earnings report that generated enthusiasm is the company still seems to be under siege and the core surge business. is it a revaluation of the hard division is the company finally getting credit for the health care initiatives that seem to be run almost in secret how much do we know about the life sciences arm? the truth is i can't find a thing that's gone positive for alphabet since the bottom or

when they reported a pretty disappointing quarter. once again, that stock is running on multiple expansion/greater fool theory. these three stocks should never have been down so much in the first place and it's coming on the heels of major mobile compression in the fourth quarter and i still want to see this kind of action and nothing's changed and that's what propelled visa to 142 and apple, in the wake of a quarter that was widely panned i think the numbers are just fine and wall street deciding to pay more for the financial technology stocks or paying less for traditional bank stocks which has seen the price to earnings multiples collapse. the same thing could be said about what's aiding the cloud kings and how it's been from 147, and 83 to 125 and 113 to 160. these three are more debatable

as they've all reported strong numbers and i think the move is very much about investors rushing into these stocks as they realize the digitization may be a much longer opportunity than they believe, but they should have done it earlier. at the same time, we have seen some major multiple compression in a number of stocks, especially the ones that are competing into amazon. it's gone from 32 in november, cbs has gone from 82 to 56 with the pit stop at 52, and they reported disappointing numbers when the earnings are weaker than expected it makes sense that wall street will pay less for the future estimates because they're not trusted. you can't say the same thing for most of the stocks that have been running they're just levitating. endless series of re-ratings multiple expansion so here's my dilemma i adore the companies that i mentioned that are having this multiple expansion i think they're fabulous long term stories which is why my charitable trust owns them and

is not selling them. you can follow along by joining actionable trust.dom and we'll talk about the fact that we're not selling these stocks even though i don't like the way that they run if i didn't believe so strongly in apple and face book and sales force and apple and ideally i want stocks to rally on higher earnings and the forecast and right now they rally on hope and as much as i like these stocks, i know better because hope should not be part of the equation stick with cramer.

i just want to go over what i said at the top of the show. i have total faith in the company that is boeing they will get to the bottom of it because they always have. is this the level where you want to buy the stock i don't know yet there is too much information that is not yet here i always like to say there is always a bull market somewhere

and i promise to find it here on "mad money." i'm jim cramer and i'll see you tomorrow male announcer: like kristen "tex" iniguez. - cheerleading and glitter are in my blood. what you got now? announcer: but tonight she'll be the one asking for support. - can you guys cheer me on? can you please cheer me on? announcer: with a chance to break the bank... - [inaudible]. bring me up a million, yeah! announcer: will tex have what it takes... [cheers and applause] - she is risking it and going all the way. - ahh. "ahh" must mean "hello" in texan, right? - yeah! announcer: to go home cheering? - her job is strictly numbers. - i came here to win the big money. - ohh! - no deal! no deal. - there is an energy. there is an electricity here.