tv Mad Money CNBC September 10, 2021 6:00pm-7:00pm EDT
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execution on a limit order on that complex spread. i think that's the way to get you done. >> okay, thank you, carter, mike, and tony, that does it here for us on "options action." we'll be back next friday at 5:30 p.m. eastern. but don't go anywhere because "mad money" with jim cramer starts right now. right now. my mission is simple to make you money. i'm here to level the playing field for all investors. there is always a bull market somewhere and i promise to help you find it. "mad money" starts now >> hey, i'm cramer welcome to ma"mad money," so le me get this. two world leaders speak on the world for 90 minutes and tech buyers chew the results even
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though we don't know what they are. have relations between china and the united states gotten so strains that the mere act of a phone call gives the bulls smgs to celebrate that is how is felt at the opening for this market took a serious turn for the worst dow losing and the nasdaq seeking .87% and apple having a lot to do with that. and most tech hardware stocks managed to hold off. as this industry has been collateral damage between the u.s. and china the whole group blossomed except for apple. me, i remain skeptical of any sort of day taunt here every time we've gotten optimistic about better relations from china since president trump, we've been disappointed every time. a lot of beam thought when biden got in it would change i don't see any way to reconcile with chinese embracing communism. but that doesn't mean the situation can't momentarily
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improve. if we could take the possibility of a step up over taiwan, the real worry off the table, then you good get major relief in the semiconductor and that is what was happening this morning which is very much hostage to the taiwan semi corporation. and it is run by a fragile government that is fiercely hostile to the people's republic of china and it seems to take place every single day during this downturn and leaves behind a lot of other groups but that september for you. that is why i keep telling you this these chinese good feeling rallies have staying power who knows. we didn't hear about a follow-up meeting or new commerce or anything we didn't see much of a rally in the so-called chinese stocks boeing, and any rom academiery down more than $3. they need planes and boeing has ton of them. and judging by how the stock is doing, let's say no dice on monday we'll see if this
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morning's tech rally can expand beyond the hardware into all aspects of tang -- of tech including faang. i like that, tang. my mom used to make that probably not doing well. tang is bad. it is nasty. anyway, i fear that september just won't release its bearish grip on the the stock that easily i just, there is a lot of people who think it will. i don't. now witness the sudden and hard downturn in the stock of app when a federal judge ruled they must allow external links from their app store. that is a real blow to apple's profitability as the app store margins are huge but they wanted to reclaim for autonomy and the judge ruled in their favor, mostly. it is a complicated decision something that we've been saying that is not that bad, it is full of ambiguity the judge said apple is not a monopoly that is a win for apple.
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but she also ruled they're violating the california unfair competition law. it is been a long time since i was in law school. but what map matter is that this negative news was not baked into the stock coming into this morning. which has been ripping over the last few weeks until today i think it will shave earnings off of apple and it gives more ammo to the analysts bearish on this stock for ages. that said, yes, this is going to surprise you, but while you could try to trade it, i think it is going to be a loser to trade. i still think you should own now i don't love the ruling. nobody is putting a gun to your head and making you use apple eco-system i want to say it is bad for business but it is bad for apple and good for third party developers that want to make money selling apps so you're going be looking for number cuts in the out years and even from the bulls even after the dramatic five
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point decline. this week president biden is trying to get more people vaccinated forcing federal employees to get shots or tested on week. i'm totally on board we need to wipe this thing out even if it requires coercion, but the anti-vaxxers whine how this is a violation of civil liberties. never mind we've had them for years. and monday palo alto hosts an analyst hearing and i think this cybersecurity firm will roll out new products that will help them keep taking market share remember cybersecurity is one of my favorite themes along with financial empowerment and technology and the stock of affirm today that is the king of buy now and pay later. this stock was up 31 points or 34%. ceo explained to us just last night and while the move today seemed exaggerating you know
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that the firm is growing has zoom video been overly punished in the inability to raise numbers when it report tds last week. i think they'll make a compelling case to own the stock at what is known as the zoom topia conference all virtual this year. makes sense given the business zoom needs to show us they could grow with new products and acquisitions and without that, i think the stock may give back the gains it had in the last couple of days after close on monday, oracle reportsand this stock has one of the most amazing values, up nearly 40% this year that is soaring much faster than the groernl rate now that might not matter though it has a halo after years of being in the dog house. >> that comes from the inexpensive nature versus the expensive colleagues did you know that crocs has seen its stock jump 130%. pretty extraordinary but it is consistently beaten the numbers. why? how about we find out when they
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host an analyst day. this is a very unknown company i think it will be well attended and cause earnings to be bumped the next day i think the same thing will happen with cisco after its analyst meeting on wednesday or morgan stanley just grabbed it and drown graded the stock yesterday. don't you think that is gutsy given the excellent set last reporting. i bet the bulls win this battle. i don't want to be that downgrading analyst at the end of this day. om kipure falls on thursday. that is a day where companies are loathe to do anything but the federal government releases retail sales and if they're weak you could buy some stock of amazon that is the default stock to buy. how about ford retail sales. for that i look at university of michigan sentiment numbers that come out on fry. let's pars the number. maybe because my wife lease and
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a i have found one tv program we like, ted lasso, i'm listening in on the the manhattan united conference call. i believe soccer or football could be experiencing interest globally and we lack ways to invest in it there is no better way to own a piece of the premier league premier team manu, especially if they just resigned superstar jamie tarp -- christian ronaldo. gain the nature of september, you have to expect next week to feel more like the ugly sell-off of this afternoon. as there may be some individual price spots. i don't want to be a downer here but i need you to expect some brutal days ahead and don't get sucked into the morning rallies. let's go to les in oregon. >> i appreciate you providing a master class and market analyst and i really enjoy that. >> you're really kind. i hope the air is getting better.
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>> i have a question about ford. >> sure. >> they are closing two assembly plants in india, taking a 1.7 net billion dollars write-off. how is that going to impact this going -- >> les, the stock went down and when it should have gone up. because they've lost $2 billion in the last five years it is the last part of the world that they're losing mfrn money that means that the numbers in 2022 should goup but no, the street gnt get it. they're wrong. les, you and i are right on the whole, remember it is september. you cannot expect ugliness i won't stop this theme until october. what is the fashion forward furniture retailer plan to continue to dominate the home depot space and i'm talking to the ceo. and then september is known for being a tough month for stocks
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but do the technicians back up this theory? i'll help you navigate this thing. and from cables to semiconductor and ab net is supporting the -- wow, what is that shortfall and chips and supply chain problems mean for you i'm getting the latest from the companies' top brass so stay 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 call at 1-800-743-cnbc miss something head to madmoney.cnbc.com.
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in an ugly week for market that there was huge winners. take rh, the home furnishing team which reported another quarter on wednesday hr is on fire. sales up 40% since 2019. monster earnings beat. and even management raised the full scale and they have big plans they want to be a luxury lifestyle brand but they'll build guest houses and restaurants and residents in aspen, colorado and a yacht that is smashing. the stock has been a huge long-term winner up more than 1800% over the past five years i think it has more to run let's check in the with ceo of rh to talk about his big plans for the future welcome back to "mad money."
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>> great, thank you, jim. >> gary, i'm going to doing? that i have to because we're going to talk a lot about style. but three years ago, i sat down with you and you said i bought stock four times, you said this on air, four times, buying now so i looked at it. the stock was at $120. $120 that is a $700 stock you told people what you were doing which a lot of times i think is incredible and yet at the same time i read the research many people think it can't keep going. do you know they said the same thing back then. why are they wrong what don't they see? >> well, look, i think, jim, when you're kind of creating a new market, redefining a market, you know, it's most people from the time we're born we're all taught to conform. we're taught to conform to conventional wisdom and other people's thinking and taught to look at the stars not reach for the stars.
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so when you think about markets or the way companies are looked at, there is more of a sense for what box do you fit in where do you conform who are you like we're asked all of the time, are you like home depot or more like williams sonoma or bad bath and beyond who are you like and when you're creating a new market, you're really unlike anyone else. you're a little bit like the best of many people. so, it is hard to understand businesses like ours and we tell the team internally here, look, we say leaders have to be comfortable making others uncomfortable because we're taking people somewhere they've never been doing something they've never done, seeing things they've never seen. so it is -- and i think the other things are i think it is warren buffett that said this, over the short-term, the market is like a voting machine but over the long-term it is like a
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weighing machine and thinks get weighed out accurately so if you think about we went public eight and a half years ago i think on our s-1 when we filed. we had less than a billion dollars in revenues and we had around 70 or $80 million of ebidta and over the course of the journey, it has been a volatile stock because it tends to be misunderstood. a lot of the story is misunderstood and it is an evolving story when you're innovating and you're inventing, there is constantly change. so it is hard to kind of pin down who are we like and what are we doing it is not familiar to people but the most important people we have to focus on is not really what wall street said about us or what analysts say about us, it is not with the short sellers say about us it is really what the customers say about us it is what the customers say about us and the customers are the most important votes if you're
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looking for votes. >> so let's talk about the customers. when the customer goes to paris, a rooftop bar, will i be able to go when this is open have champagne and bar and look at the eiffel tower. will i go to a 73-acre estate in britain from 1600 and tour it? because these are now things that i feel like have to be on my agenda if i'm going away. >> well that is the point. it's how do you redefine spaces. we say in our company we don't build retail stores. we create inspiring spaces that activate all of the senses and their filled with fresh air and natural light and you know, we call them galleries because their artistic abstractions of home furnishings in a gallery
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setting. so it is -- there is a lot of art that goes with the science in our business. we have integrated hospitality, we have, as you say in paris, we're going to have a champagne and caviar bar on the the top floor that extends up into the rooftop and have a beautiful garden with views of the eiffel tower. the first restaurant we did was in chicago and i think in the first year we had more than 100 wedding proposals. now if you just stop back and think about that, in the beginning everybody said, who wants to eat in the middle of a furniture store. and we said, look, we don't build furniture stores we build inspiring spaces and you have to come see it to understand it. and i think most people that have been critics of the company or don't get it, it is because they haven't lived it, they haven't experienced it i think about every person that has been short our stock or rode a negative article on our stock, they've never come to visit this company. they've never talked to us
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they just formed their own opinions out of kind of a lack of information and truth so, the great thing is you're going to be able to go to paris and enjoy champagne and caviar on a rooftop with views of the eiffel tower and you're going to be able to to inho, a 73 acre estate built in 1615 and designed by the architect sir johnstone, there is the sir johnstone museum in london that is his original house. he's one of the most inspiring architects in history. and you're going to see products and you're going to experience our business in a way you've never experienced it before. and it is not even how many people go to the gallery at inho, which is by the way about an hour and a half outside of central london and it is the 73-acre estate in a 55,000 square foot beautiful
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castle like building it is really, it is about the 40 to 50 million people that will see it on our website, we'll do it on the cover of our sourcebook and mail it to millions of people, it will be written about. >> are people -- are there that many wealthy consumers, in u.k. and, there are many people doing that well right now. we hear about how things aren't that good. but a destination, now we have to decide, whileyou're talking about major commitments by people and they have that money, or as you said at the end of the call, it is their goal to do better it is their goal to get better stuff. that is what people do >> sure. i mean, you know, you could look at history and humans always aspire to better quality, right. we -- and but you don't -- look you don't build a long-term strategy based on short-term temporal interruptions in
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economy or anything like that. so people say oh, it is not doing that well in europe right now. i mean, i got it it is a -- right now is just right now. long-term visions and strategies are beyond right now >> right. >> and so i think when people -- when people see what we're doing next, i think they'll understand it it is no different than we introduced rh 1 and it is our private jet is that will be available for charter. it just ran an architectural digest in the october issue and they did a spread on a plane okay in architectural digest history, i think it was only one plane and the gettys plane, the jetty in the 1980s, i heard they did another article four or five years ago on another plane
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but these pieces of the puzzle are helping us to kind of climb the pount and establish rh as an arbiter of a taste in style in the world for like we say prords places and services and spaces and eco-system that elevates hr as a thought leader, a taste maker and a place maker. so it is -- there is a integrated treat to all of this. but until you kind of see it and understand it, i think for anybody that doesn't get it, that is in the financial world, whether you're an investor or an analyst, i would say come visit us in marin county come see the center of innovation and product leadership but we don't spend our time you know, trying to convince people to love us we do what we love with people that we love for people that love us. >> all right i know there is -- i'm trying to cut you off but i'm not letting them do it
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i asked my wife, why do we keep using rh, she said jim, it comes in two to three weeks no matter what everybody else i'm waiting six months for you've been able to do that too. you've mastered the supply chain. >> well the good thing is, looking we own inventory we're not one of the platforms that is just selling other people's goods >> right. >> and not carry inventory we have a great competitive advantage from that point of view but look, we face the same kind of challenges. again they're all kind of temporal issues and they're not long-term strategic issues they're short-term distractions. you have to stay focused on your long-term vision to create value long-term. >> they're giving me a wrap. you know that i am always torn about talking to you because you -- look, i don't have -- only if aroundo would come on, we would be able to figure this out. you are a genius, my friend. you're a genius.
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let's leave it at that. >> thank you >> you'ra genius that is gary freedman, four times he bought below $100 and then he bought a fifth you know what, he makes you a lot of money he's also a money maker. "mad money" is back after the break. >> coming up, cramer explains the reason for the season. off the charts next [swords clashing] - had enough? - no... arthritis.
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serena williams... wonder woman. serena... wonder woman... serena... wonder woman... ♪ ♪ ace. advantage! you cannot be serious! ♪ ♪ get your tv together with the best of live and on demand. introducing directv stream with no annual contract. all week i've been warning you to steer yourself for a rough month, because september has not been a good time to own stocks there is only so much you could glean from the calendar but this tends to be a brutal month how brutal we're going off the charts with a help of larry williams who has been trading stocks since i was too young to drive i had a lot of pimples
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he's written more than a dozen books and talk about all of the time on the the show but he's been on a roll for last year and i half, since the pandemic hit, he has identified opportunities including what i saw last spring let's talk about september if you like musicals you could try to take your queue from the fantastics when life was slow and oh, so mellow. but that is hard to do because this is rarely a mellow month for the stock market sell in september and go away as a better track record than sell in may and go away but it is not exactly rigorous approach to the market that said, you need to be aware of the tons that traders pay very close attention to what i'm about to show you. very close attention to the seasonal patterns and gritting their teeth by what i'm about to show you but if they're a short seller they're licking their lips in
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anticipation when you layer in the delta variant induces causing a slow down, let's face it and the fear of the federal reserve and the possibility of debt ceiling in washington, it could easily become what i call a self-fulfilling prophecy so first let's circle back to the seasonal pattern and take a look at the how the s&p 500 have traded historically. this is what it looked like in 2001 using data from the year 2001 this is what williams calls the true seasonal pattern. even back then september was a rough time for the s&p we had no idea how bad it would be but it tends to be a dark period for the market even when we don't get hit by a horrifying terrorist attack it shows weakness in september and it predicted that weakness would accelerate on 9/17, holding until the 17th would have been a mistake. but if you sold at the
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beginning, your portfolio would have side stepped the value or maybe lighten up and raise some cash that is what we've been doing for the charity trust. that is too compelling how does the season pattern look like today now we'll look at 20 years additional data. check this out this is what the pattern looks like today it is incredible how it held up. this is using numbers from 1998 to 2001. the pattern hasn't changed all that much. williams points out that the optimal seasonal sell point is the same around september 17th. believe me on the the 16th you'll see a lot of selling because of what i'm showing you on the 17th. this is when prices drop if history is any guide there is a high probability this market will get hit with a meaningful decline at the end of this month. which is one reason i think it is been so soggy for the last week this stuff is known by a select few and now i'm giving it to everybody.
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what is the best moment to sell in september i'm going to show you a table which shows how you would have done if you sold the s&p 500 on the last trading day of the september through the 15th, last trading day. i know it is tricky but i'll show you this and in this method using a 2500 stop loss order and exiting on the first profitable opening after being on trade for two days so this is pretty short-term move over from this. if you saw in the 15th, the last trading day, earlier in the month and used this method, you've lost a lot of money the optimal moment to sell the s&p on the seventh to last trading day of september for 23 years, this is is right here, this is when you do it, 23 years it is been -- 23, that is extraordinary. now if you sold on the 10th, get this so it is clear, if you sold it on the the 10th, the last the eighth to the last trading day those had a 90% accuracy
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but the sweet spot is the seventh which translated to september 22nd this year that taper only shows you would you would have done if you only held it for a few days so what happens if you sold on the seventh to last trading day of september and held that trade for longer take a look at this table which shows you would have done if you pushed your luck and held the trade for one to 15 days when you hold this trade for a longer period of time, you're sacrificing accuracy in order to pursue greater profits if you bought the s&p futures only a couple of days later, you end up 866 there it is. but that trade is worked every year for $23 so you could make this much every year, that is worked 23 straight. now if you hold the trade for longer, say 14 sessions, your average gain on williams was $3,092 but you only made 16 out
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of 23 years. all tolled if you do this every year you would have had more gains if you only closed the position after 14 trading days sox williams thinks it is worth the tradeoff i want you to know if you're interested in trading. in short the late september sell-off has legs. were it to go back to the fantastics and try to remember and follow, follow here is bottom line. the chart by larry williams suggests that the rest of september could be uglier than the month so far and the last week might be brutal so steer yourself. because like mr. t, and in rocky 3, this prediction is pain santo in florida santso >> booyah, mr. cramer. >> how you been? >> all right so engine 39 ladder 16 fire department in new york city. >> oh, man, thank you for everything you do.
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thank you. >> the stock i'm interested in is power school, pwsc and maybe what do you think about it >> pwsc. i have looked at this. this is one that we've actually done some stuff on the problem is that it's another cloud based one. this time it is for education. but it is good i'm not going to tell you it is great. because it is cloud based i'm going to send you to sales force. thank you for everything you do for the city the charts suggested that the rest of september could be even uglier than we've had so far and i need you to know this stuff and brace yourself the last week of september could be the most brutal or you could profitif you really are very, very nimble and much more "mad money" ahead with ab net how are the tight supply chains impacting the 100-year-old electronic component supplier. and then tomorrow is the 20th anniversary of 9/11 and i'm looking back on that fateful
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morning that changed our country forever from a personal point of view i was downtown at the time and all of your calls on rapid fire for the edition of the lightning round. so stay with cramer. zero-commission trades for online u.s. stocks and etfs. and a commitment to get you the best price on every trade, which saved investors over $1.5 billion last year. that's decision tech. only from fidelity.
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lately we've seen company after company preannounce bad numbers due to supply chain issues so we have to, how about we check in with the finger on the the pulse of tech supply chain and i'm talking about ab net with finished hardware and electronic components including ones that are in short supply like semiconductors. last month ab net reports excellent numbers with much better than expected guidance
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because this is a terrific stock for them but now it is pulled back in the last few weeks where it is selling for less than nine times this year's earnings and i've seen it as high as 18 times so this ko this be a bargain let's talk to the ceo of ab net to get a better read on ab net itself welcome to "mad money." >> thanks, jim, i appreciate that we appreciate the opportunity and by the way i saw yesterday's news i wish you all of the best in your next chapter as well. >> you are so kind thank you so much. you and i are old man in this. you have to stay at it i've been 37 years in ab net congratulations. >> thank you. >> and here is what i want to know no one knows more about supply chains issues than ab net. we here supply chain, every company used an excuse to miss the numbers but you worked in partnership with a lot of companies. would it be possible to say i'm going to ab net and work this through ahead of time and
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wouldn't be bemoaning themselves and their supply chain issues. >> that is an interesting point. for sure we're seeing a lot more opportunities even though we were prior to the constraints. but you're right, the pull back in inventory and in manage inventories and the leans and things that are going on, preempted where we are today that is exasperated with the covid issues in the last several years, or going on several years. so the answer is yes, we believe we're in the center technology supply chain that is what we do and i would venture to say that customers are deal with us in r in better shape than ones that weren't but it is providing a great opportunity for us and a lot of new customers and suppliers that are really engaging our supply chain architects to help them out. >> so what are the largest companies that would use that. the companies that we would know brand name companies or large industrials? >> yes, sir. we don't mention their names but you look around your house,
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whether it be your thermostat, by the way your car which i know you want to talk about. >> yes, i do that is where i'm going next. >> your sub zero refrigerator to tractors to home automation, building automation, it is really all around us, jim. so they're all household names big networking companies you might guess. big 5g companies in san diego you might guess. so they're all pretty much household names. but you don't see us because we're behind the scenes supplying the parts and chips and components that go inside of those branded products. >> so i saw today toyota had lower numbers and gm, let's say hi been like a chinese company and said, you know what, phil, i don't want to do adjust in time. i want to do just in case. would the dialogue be different with the companies now preannouncing weaker numbers >> think the dialogues are now in parallel changing and evolving some of the tier 1 companies, we
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may not -- you mentioned toyota and ford we may deal with directly but other subcontractors particularly as they get more into the entertainment systems in the car, the mirrors, all of the things that are electronic we're doing a lot with the second and third tier guys and now we're getting calls from the tier ones. because you have 50 cent, $1 micro controllers holding up 50,000 cars so there is a transformation i believe that is going to happen. like i said, we're getting calls from not just in the automotive but other oems, original equipment manufacturers that can't get what they need and their calling some misses in their numbers. but it is not going to change overnight. >> by you have many, many other chips. and i love the high performance computing. but we're talking about the full featured chips now in the end, many of them remain say by global-but you
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can't call global foundry and jump the queue >> no. or tsmc that is in arizona by the way. and that is the issue. and that is where a lot of the companies got caught short they might not have had as much electronic in the content prior and they didn't change the sup supply chain methodology and bang their fist on the the table to get more and it doesn't work that way and you can't jump the line. and there is 12, 18 cycle time to when it could be shipped when there is constraints and our suppliers and you've had them on, on recently in sales and some others, they can't change the production that quickly. they're adding capital but you're talking 18 to 24 months before you see any through put. >> i'm a ceo and i want to deal with what i make but if i were to call phil and
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say, listen, i've been 100 years my company has worked with your company a hundred years. will you show us how to do this, show us what supply chain means. this is not any new environment. isn't it better if they do it with you then try to reinvent the wheel itself. >> the answer is yes and we're getting calls. supply chain architects, that is what they do and they come out of supply chain backgrounds and we help these customers and suppliers, they're good at manufacturing. they're good at marketing products or designing their products but they would rather use us to drive the supply chain piece because we're right in the center of it we're a great aggregator so we're dealing with forecasts on a daily, monthly basis that we send it to the supplier up stream as i call it and say what kind of buffers do we need what are we willing to invest in
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together so we get a fair roi. and the cost of inventory, i have a little bit of a buffer is not a bad thing. inventory through the '80s and '90s was a bad word. it is not a bad word any more. right. >> well it was bad because it meant that you were sloppy and you were using up a lot of your working capital and you were a poor manager but the world changed and i have to tell you, i'm so grateful you came on. our show had a long relationship with ab net. i want to reinstitute it because you have the pulse on everything i feel badly that we dealt so many on semis because there is so much that you do. but you're going to come back and we'll learn more from. >> thanks a lot, jim go birds. >> my friend chuck robbins is an lawsuit guy and his supply chain works very well. i wonder if. big gallagher ceo of ab net. "mad money" is back after the break. >> stick around. "the lightning round" is coming up next.
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you sure you want to leave that all behind? yeah. stay restless with the rx. crafted by lexus. experience amazing at your lexus dealer. "the lightning round" is sponsored by td ameritrade >> it is time. it is time for "the lightning round. and then "the lightning round" is over. are you ready skee daddy mark in wisconsin. >> jim, i've got a crypto occurrence minor up in toronto, they're ticker symbol is hut, name of the company is hut eight. i would appreciate -- >> they're a dime a dozen unfortunately. i wish it were more special than that i don't think you have anything
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proprietary. go buy some theory um. >> michael >> dbax. >> i like this company i like companies involved in anything that is what i call personalized cancer, personalized immunology and that is one i'm going to jose in california. >> booyah, jim thanks for taking my call. >> sure. >> so this company went public recently and had a extreme high -- [ inaudible ] like microsoft and netflix and mcdonald's and last night the ceo earlier today and i'm bumped i got in 16. let me know yu thoughts on sprinkler. >> that was a direct listing and people didn't like the quarter i don't think you have enough -- there are not enough companies that follow this to be able to get a true picture on it that is part of the problem with having all of the companies that have become public very hard to get a real reading on it. alex in pennsylvania alex >> greeting jim chill from york,
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pennsylvania >> yeah. so just enough close to philly what is up >> i'm doing good. i hope you're doing good i like the long prospects for a stock trading under $30 a pop, buy sell hold, [ inaudible ]. >> i happen to like ping very much and like cyber but my recommendations are you do palo alto or crowd strike right now and that, ladies and gentlemen, is the conclusion of "the lightning round. >> the "the lightning round" is sponsored by td ameritrade >> coming up, cramer reflects o american resilienceand acknowledges 20 years since the world changed forever, next. ♪
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in between the glints and the gone came a world of pain and hurt and death that is still with us. except for the younger generation who either hadn't been born yet or were too small to understand what was happening when those planes crashed into the north and south towers like pretty much everyone in the business, i learned of the unfolding tragedy from watching my late friend mark haines on cnbc he put it out, it was no ordinary fire or no billowing smoke plume or in b-25 that hit another building back in '45 well at time the empire state building wass enshrouded by fog it was such a beautiful day. honestly, what happens then still feels like science fiction. i was stuck in lockdown at 14 wall street, not far and all i could think was that if there were a couple more floors in those towers, and they
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fell, maybe they'd take our building down too. that or maybe one more plane could be heading our way or across the street from the new york stock exchange. no one knew anything that morning. don't let anyone tell you other wise and then it happened once not twice. i never heard a sound that loud. and everything went black. not once but twice two terrorist made eclipses of the sun. after a time the fire department let us out and i recall it snowing. snowing hard accumulating one to two inches and i looked up to see how it could be possibly snowing on such a clear day and then i look down at the dust that covered my shoes. i made up shredded pieces of research, mostly dean whiter, i saw a recommendation of a couple of tech stocks but who knew what that contained i knew not to shine my shoes i hitchhiked home and wonder field goal it really happened. what i remember next has more to
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do with the confusion than anything else. somehow the enormity of the situation didn't hit home almost immediately signs were everywhere in manhattan. families looking for loved ones. it seemed inconceivable that unless you got out you died. there had to be survivors right, buried in the rubble or people gotten out and simply not accounted for. there weren't. we didn't yet know of the tales of heroism, just the tales of horror only later did we hear about firefighters and police going upstairs when everybody else was trying to come down. climbing stairs to certain death. who would do that? how about dedicated moms an dads and brothers and sisters who choose to die in the possibility vain hope of saving people they didn't even know that was our pearl harbor in the global world on terror i think many younger people may not understand how different the world was before september 11th. this was a pivotal moment. it changed everything. so i've a suggestion to a leader
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of a country to sadly divided. we, my generation, knew that december 7th, 1941 is a day that will live in infamy. september 11th 2001 should be remembered as infamous there is a way to do it. we have a museum dedicated to that day right at ground zero one so powerful and so poignant that those who don't know better could see what like was like the minute before the mass murders and then after with horrific details including a jumper room. i say whatever it takes to make sure people remember 20 years later we hear downtown is alive and some say better all things considered with beautiful beaming buildings and thriving residential neighborhoods. i say nonsense give me the nondescript white mountains the ones that could glint and glean and all of the
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people in them then and only thencan there be an end to the sadness. i'm jim cramer see you monday up next, cnbc continues the coverage of the 20th anniversary of 9/11. a special edition of the news with shepard smith live from lower manhattan starts now. lows now. \s nice and comfortable, clear sky, a brilliant-looking tuesday. ♪ >> a plane has just crashed into the world trade center. >> hijacked american airlines flight 11 from boston to los angeles. >> another one just hit. >> crashing into the second tower. what is going on >> we're looking at live pictures of the pentagon. >> there was a third plane that hit the pentagon, america apparently under attack. every aircraft has been
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