trading trading opportunity. >> dan yeah guys broadcom comes out avgo. >> guy guy. >> it's so. >> odd what avgo. >> i mean it's. >> just like. >> it. was a merger. >> you know. >> you. >> know what the b in tube is. >> we sure. do baba thanks for watching fast money. mad money starts right now. >> my mission is simple to make you money. i'm here to level the playing field for all investors. there's always. >> a. >> bull market somewhere and i promise to help you find it. mad money starts now. >> hey i'm cramer. >> welcome to mad money. >> welcome to cramerica. >> other friends. you know me. >> i'm just trying to make a. >> little money. >> my job is not. >> just to entertain, educate put it in perspective. >> call me one 800 743 cnbc. >> tweet me jimcramer. >> i've got a good. >> sign today. >> the beaten down tech. >> stocks rallied and rallied hard at one point after a lot of time lost. >> in the wilderness. >> while the. >> recession proof stocks well they finally got clubbed.

>> and you can see. >> in the averages rebound in the afternoon before. >> pulling back again. >> near the close. dow home of many defensive stocks finishing off 478 points. s&p declining 0.7 5%. >> but the. >> nasdaq where tech was losing. >> only 0.18%. >> although at one point in the afternoon we had a wicked rally going. >> before falling. >> into the bell. i like. >> the nasdaq. >> rally, even if it petered out toward the end of the session. it came a little too early, which left time for sellers to ring the register. that's what you have to start these things a little later. but we got a trade war going with canada. here's what happened. they announced a 25% tariff on electricity in our country earlier today. immediately, president trump announced some harsh retaliation, doubling the tariffs on aluminum and steel. take that. canada. the steel side can be dealt with. aluminum i don't know. more on that later. but it's bad news. canadians produce a huge percentage of that stuff for our airline makers, for trucks, for cars. a 50% tariff would be very inflationary and could destroy the profits of the automakers. then. >> at 1:30. >> p.m, the canadian suspended the electricity surcharge. at

the same time, ukraine said it was willing to have a 3030 day truce. now, if you take a look at what happened here, all of a sudden, boom, the market flew up like a spring loaded cannon. it's like this. everyone was just thinking, this thing's going down here. okay, but no, it went back. opportunistic investors did take profits right here. but as you can see, we had a nice rally. at one point this is up 1%. that was super. who thought that could happen? of course, there's no predicting that president trump will roll back the extra steel and aluminum tariffs. it sounds like he's considering it. the uncertainty worried people. and many, many people were so happy to rid themselves of stocks like nvidia or apple. the latter now engaged in a real hideous rollover, even as nvidia was able to bounce before disappointing close. but you can see just for a second when the canadians got constructive that this market truly does want to go higher. when the turn came, it came. the technology stocks, not the safety stocks, because they're the most beaten down. consider let's just use this. this is almost $1 trillion company. broadcom the

semiconductor company. it's on the verge of being right there. and like you know maggie whatever you want to call it reported an amazing quarter just last thursday. yet its stock had barely gotten any credit. came back hard today. rallied as much as ten points and then giving back five. but that's still a very good sign. of course, no matter what this market is about tariffs can a suspension of his electricity tariff that changed everything for the better. that's what made things work in the afternoon. so let's talk about stock prices in the white house. now this weekend the president said he's not focused on the stock market. maybe if you're in power, you're not up for reelection. the stock market can be ignored. that's just one problem. this is what the president's forgetting. the stock market serves a dual role. yes, it makes rich people richer, no doubt. at least when it's going up. but when it goes down, it can also be a signal. a signal that things aren't well, in the economy, that business getting tougher and that layoffs could be on the table now. big picture. i mostly agree with the president's attitude toward trade, even if i disagree with the details and certainly don't

like the angry way he's handling it. for years, many countries have feasted off our nation's economy. it's been a raw deal for a lot of towns across our country as factories shutter and people get thrown out of work. president trump ran on fixing that, among other issues. one of the best examples is what happened in aluminum in our country. we used to have a lot of smelters here, but now roughly half of our aluminum is now imported. vast majority come from canada. we've been closing smelters for years in this country. canada has been making up a lot of that at close capacity. but candidate does rip us off on so many different things when it comes to international trade. nobody's hands are clean. it's just that the white house hasn't bothered to explain it. that's why it feels like trump's beating up on the canadians for doing nothing other than supplying us with cheap aluminum that doesn't pollute our communities. still, if the white house bothered to explain, rather than just being angry, i think most people would understand why the president is going after canada. of course, the details matter too. a 50% tariff on canadian aluminum doesn't work because there's no new source to replace it. wherever we wherever we get aluminum, it's going to be a lot more expensive, right? raising the price of cars and trucks

dramatically. really hurting gm's profits. stinking ford's too. i don't think it's a mistake to say that the auto companies are in real trouble. with a 50% tariff on canadian steel and aluminum, you certainly can't own their stocks. now let's talk about what's happening in the real world because of the president's tumultuous approach to trade, these tariffs are beginning to scare people, regular people, you and me. and that's what the stock market's been saying for the canadians. blinked momentarily avoided a real trade war. we're still seeing a pronounced decline in small business optimism. it's a cliche small business backbone of the economy. big business is always trying to trim costs, small business hires. we're starting to see large shortfalls in many different industries. delta great airline, but it's going to miss the numbers. big. same with america. we got a real ugly read about the state of telecommunications today from verizon. stock fell 6.5% three points. wow. we're hearing disconcerting things from retail. dick's sporting goods terrific company reported excellent numbers, but its ceo lauren hobart, gave a very downbeat forecast. why? well, here's what she had to say. we are not seeing a weaker consumer now. we're coming off a fantastic q4. our guidance reflects that. there's so much

uncertainty in the world today and geopolitical environment and macroeconomic environment. we are just being appropriately cautious. end quote. that's we're talking about sports. then consider the case of kohl's, a former jewel of a chain that's fallen on hard times, cutting its dividend today from $0.50 to 12.5 cents. not good. kohl's is still making some money, but they're forecasting a huge reduction in earnings 10 to $0.60 versus $1.24 at the analysts were expecting. more important they see same store sales down 4 to 6% when the analysts were expecting only to be down 1%. ouch. that's very bad. now, we're not a manufacturing economy. we're a service economy. that's why it stings when you see these retailers, telcos and airlines linking the negativity of their customers to political actions emanating from the white house. i don't want to be a complainer. i like to be constructive. we want more good factory jobs to replace the ones that have been lost over the years. the president's been terrific at getting commitments from foreign companies to build factories here. but modern day factories, they go into them. they don't employ a lot of people. the issue is that, again, we're service. most of our business is service, and that economy is

starting to roll over because consumer confidence is declining. as people worry about impact of these tariffs, they don't understand them. sure, we have plenty of room for layoffs, so to speak, because we have a very low unemployment. but the stock market is saying the tariffs will be inflationary. and the white house hasn't explained to the american people why it's worth it. we also have plenty of room to reverse the mood, though, to make people less worried to stop the decline of retail, which is a heck of a lot bigger than manufacturing. we can stop the increase in price of cars and homes, we can lower interest rates and oil prices. all good. but the stock market is beginning to say to president trump, look, it's just not worth it. even if you want to bring back jobs to america, manufacturing jobs, there's a way to do this without causing a collapse in consumer confidence in the service economy. bottom line right now, the stock market is saying that president trump needs to change course. on how he tries to implement the tariffs. it's screaming that we have the wrong approach. and the president should not ignore that scream, because that's how you end up in a recession. let's take calls. let's go to robert in new york. robert. >> hey. >> jim, first.

>> of all, i want to thank you on warning us about this downturn. weeks ago, you came on the television and said. >> the. >> tariffs come in. we're going to have problems. >> okay. thank you. yeah, i mean, i didn't want it, i didn't want it. but yes. thank you for recognizing i did that. >> you saved us money, jim. and you also said clarity clarity on these tariffs. and tonight peter navarro was on overtime tonight and gave us a little clarity. but but what donald trump should do. >> well i've been talking to peter. you know i want peter to just be a little more. look, i known peter for 50 years. and there's a way to be able to talk about this without anger, without rancor, with a smile. witness, witness. the eight years of ronald reagan, where he accomplished a lot of things with democrats because he had a congenial attitude. attitude matters. >> president trump should create. >> the department of stock efficiency dose, and he should put. >> you in charge of it. >> i'll take it off. >> the market. >> take off the job. >> get a. >> dose of. the great thing is i

don't sleep. so i do that job in the daytime. and then i do this job at night time. what stock? what stock are we talking about? >> okay, jim, this next stock has a 32% upside potential. based on the analysts average price target of 145. there's been some. >> good insider. >> buying. but i'm a little bit worried because now that the tariffs are in place, i think. >> the home. >> builders could. >> be affected. >> and but i do believe that this. >> company is. >> a very. >> strong company. >> toll brothers okay. >> so listen to me and listen good. it's doug yearly and you know doug he's the bomb. and what i really care about here is they raise the dividend. and this is the big fly in the ointment. if president trump goes after the lumber industry of canada, then they have to raise the price of homes. you got to hope that the president does not go after lumber, even though that's an area where you could easily take down the canadians. that would make me want to sell toll. i otherwise want to buy it. i want to go to howard in my home state of pennsylvania. howard. >> jim. >> i've been. >> a. >> long time. >> investor in starbucks, and. >> their new ceo. >> seems to be.

>> making the right moves. >> however, the stock's down about 13% from its highs this year. since coffee appears to be a discretionary item. >> and. >> considering starbucks second largest investment. >> is in china. >> and the potential tariff problems. between the us and china, should starbucks be. >> held, sold or bought. >> i know you want to own starbucks. brian nichols terrific. the stock was up. it shot up to 115. that was a big move. it's a parabolic move. it's coming back down. it's more controlled. i think brian's going to do terrifically. i'm getting my coffee in four minutes. i don't know about you. i think he's instituting the right policies. i think he really knows what he's doing. all right, listen to me, guys. right now the market is trying to tell president trump that he shouldn't be so rancorous and angry. just try to get the job done sotto voce under the, you know, just fly lower, please. and if he keeps ignoring that message, we could end up a hell of a lot lower than where we are with stocks and with the economy. on mad money tonight, could niko eagle be a golden

opportunity for growth in this market turmoil? i'm getting the latest from the miners top brass. they know what they're doing. then as tariffs continue to impact the tape i'm going to be turning to the technicals to get a better read. and later i'm revealing what i think could be a winner in the ai space. and believe me, there are some things that could be winners in the ai space. don't give up jen. i stay with craig. >> don't miss a second of mad money follow jimcramer on x. have a question. tweet cramer hashtag mad mentions. send jim an email to madmoney.cnbc.com. or give us a call at one 800 743 cnbc. miss something. head to mad money cnbc.com. scan the mad money cnbc.com. scan the code. sho gold bond believes touch says everything. it says... i see you. i feel you.

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>> lost among all the headlines recently is the fact that the price of gold has been creeping back up toward the all time highs, the ones that were just set a few weeks ago. and that's great news for the gold miners, particularly agnico eagle, which shot up to a new all time high earlier today. now, this is one of the best operators in the industry. we're going to talk about that with a lot of speculation about the impact tariffs will have on the precious metal. well, we're going to be able to go right to the source and see what's one of the biggest names in the business has to say, because frankly, i don't understand the interaction between gold and the tariffs. that's all right. let's check in with amar al-jundi. and he is the president and ceo of agnico eagle mines. mr. houdini, welcome back to mad money jim. >> it's a pleasure to see you again. >> always a pleasure. >> absolutely. now, first of all, congratulations. these numbers are extraordinary. your costs are totally, totally in control. the numbers that you're producing, the cash flow that you have all. excellent. how are you able to do all this? >> well, you know, it's very simple, jim. in our business, if the gold price shoots up. $600

last year, and if we deliver record production, which we did, and we control our costs, then all of that incremental cash goes to our shareholders. >> record cash flow, record earnings. >> equals record share price. >> well, i think you said very simple. and i've interviewed enough gold executives to know that it's actually not that simple, that many costs get out of control. so many times, sir, i have been in love with a gold company. and then the cost got so bad or something went wrong that they ended up not making that much money, that your operating margin is extraordinary. far better than all the other companies i deal with. >> well. >> right now we're guiding about $940. cash costs. and take a look at the gold price. that's almost $2,000 cash margin per ounce. that is extraordinary. i would agree with that. and you know, jim, it's a tough business. you've been. around a long time. and, you know, a lot of my peers, we've been able to

do a good job controlling our costs. you know, we take a different approach. we're more of a regionally focused company. and frankly, you know, when you've been operating in the same place for almost 70 years, when you produce more gold in. canada than everybody else combined, you're able to control costs. >> a little better. >> that's incredible, because canada is the home of, i think, the safest place to be able to mine. now, i do want to know you're in canada. you're in mexico. what's your ballpark? i mean, i know look, jamie porter said some good things about what the tariff might be and what they mean. the cfo on the conference call. but i'm still trying to get my arms around, like, what do you do if you're selling into america from mexico or canada? and what does it do to hurt your profits? >> well, the best way to think about. >> gold, jim. is imagine. >> not that. >> we're mining gold. >> imagine that we're mining a currency. so our gold goes to refiners all over the world, and it gets distributed all over the

world. and it's the same price everywhere in the world. it's almost like we're mining us dollars. so we have no no tariff exposure. on the revenue side. we have a little bit of tariff exposure on the cost side. but if you take a look at our business, jim, 60% of our costs are labor, electricity, diesel in canada. i'm using canada as an example because that's where most of our production is. none of those are subject to a tariff influence. >> i get. >> it. >> i get it, the. >> other the other 40% is a little bit sensitive, but not much. >> oh, thank you for saying that. now, i do want to talk about something very controversial. those of us who believed in gold for many, many years and are so thrilled by the way that costco has it, although they run out of it every morning, but we still try are looking at bitcoin and looking at gold and bitcoin did explode, and we're willing to have a strategic reserve of bitcoin.

but we never did one for gold's past fort knox. and i'm trying to figure out what you're thinking about just in terms of when you talk to let's say the wealthier people do they want gold more than bitcoin. now given the fact that gold's had quite a run and bitcoin's toppy. >> yeah, i mean, the people i talked to. are usually very sophisticated. and they view the two are somewhat different way. they view gold as a hard asset as a currency. and as demonstrated by the fact that central banks around the world are buying gold. in fact, they're the ones buying the most gold. they. that's not a knock on bitcoin. bitcoin's fine, but bitcoin's almost more like a trade. you know i don't know what a babe ruth baseball card is worth. it might be worth $1 million to you. it might be worth $0.10 to someone else. but it's a bit of a different animal. >> you're right. i mean, one of the things that i've struggled with and so does chairman jay powell, is that it's a store of

value for some people and for other people it's a trade. whereas everyone knows that gold is a store of value. have you discovered more and more people wanting to have gold, personally putting it in different banks, in different parts of the world because the world is so uncertain? i keep hearing that from my friends, from the people i talk to, ceos, they want it distributed around the world. they don't want it in any one place. they want it in different banks. any, any, any feel about that? >> well, let me give you the scariest example i can and that is there is actual discussion now about forcing foreign holders of u.s. treasuries to convert into 100 year low coupon bonds. i tell you, if that ever happens, it will be a disastrous but very good for gold because then everybody will have to. go into a currency like gold. >> absolutely. well, look, the one thing we never want is what franklin roosevelt did, that people forget in 1932 when he confiscated all the gold. we can't have anything that has to

do with our personal savings of gold or anything other than it's ours and they can't tax it. and we put it in a safety deposit box, not in the not in the ground and not under the mattress. you know that we put it in a safety deposit box and then we live to play again. that's on our agenda, which is the president ceo of agnico eagle mine, which is the best gold miner in the world. thank you for coming on the show. >> thank you jim. >> my pleasure. >> as always. >> mad money is back. >> in quickly. >> coming up after another volatile day for the averages, it's time to get historical, not hysterical. huddle up. cramerica. cramer circling back to the technicals and revealing how to position your portfolio. next. >> cnbc live ambitiously. >> don't miss a members only event. >> we made sure that club members get the access they need to make more informed decisions. >> join the cnbc investing club to access gyms monthly meeting. go to cnbc. com slash monthly

meeting. >> welcome to. cnbc's crypto world. >> cnbc's daily digital show has trading updates, the latest headlines, a global perspective and high profile interviews. and high profile interviews. scan to watch [announcement call] final boarding call. i didn't use agentforce, the powerful ai from salesforce, so an ai agent didn't send me the fastest route to my gate, which has changed. [airport bus engine] [whistling] i'll tell the pilot to hold the plane. they've got an app for that, dude! agentforce helps heathrow create a first-class experience. agentforce. it's what ai was meant to be. >> so many legendary. >> investors quietly. >> ignoring that. >> advice and. >> instead selling the. >> stock hand. >> over fist?

>> every billionaire on your screen has. recently sold nvidia. >> some have. >> offloaded millions. >> of shares. >> and mark my words. >> this is. >> bigger than nvidia. >> hedge funds are quietly selling. >> all of their tech. stocks at the fastest. >> rate we've. >> seen since 2016. >> it begs the question what do. >> they know. >> that you don't? >> my name. >> is. >> mark chaikin. i help build three. >> indices for the nasdaq during. >> my 50. years on. >> wall street. >> that means i know. >> how to recognize. >> these signals from the. >> tech. >> market and exactly. >> what they mean for you and your money. >> i explain. >> everything in my new market briefing, including. >> the truth. >> of. what's going on with nvidia. >> today and the specific. >> stock i recommend you buy. >> instead, i'll. >> give you. >> its name and ticker. >> when you visit the website below. nvidia has been. >> the most. >> talked about stock in the market, and for good reason. >> it's led the ai revolution. >> that has taken. >> the us stock market by storm.

>> since they announced. >> their ai. >> powered computer. >> chip in 2023, nvidia stock. >> has been. >> on a history making. >> tear. >> officially surpassing microsoft to become the world's. most valuable company. >> today. >> however. >> many investors are worried the tide is changing. >> nvidia's day in the sun may soon be coming to a dramatic end, and as a result, i predict a different. under-the-radar stock is primed for big. potential gains. >> from this moment on. >> to get its name and ticker. >> 100% free. >> simply visit. >> simply visit. >> the website below. it all started with a small business idea. it's a pillow with a speaker in it! that's right craig. pulling in the perfect team to get the job done. i'm just here for the internets. at&t, it's super-fast! you locked us out?! and when thrown a curveball... arrggghh!

ahhhh! [crashing sounds] we had everything we needed. is the internet out? don't worry, we have at&t internet back-up. the next level network for small business. ♪♪ i sold a pillow! oscillated wildly on new developments in president trump's trade war. this time he was talking about a 50% tariff on canadian steel and aluminum, before white house officials later kind of walked the plants back somewhat. we have to ask ourselves how much longer the walmart white house, which brings us every day. lower prices for stocks can keep this up. but as i keep telling you, it's very hard to predict. president loves to roll out big new tariffs and roll them back a bit, or postpone them only to find something else to slap an import duty on. so it's tough to get your arms around what we're dealing with here, right? it's fluid. however, i think a big part of the recent sell off is that wall street feels betrayed. see, the big money guys thought

that they were getting a president who cares about the stock market. now, he says he doesn't care about the stock market, and that makes them very nervous. they thought they had elected mckinley. looks like they got william jennings bryan. so the moneymen well, they got a severe case of whiplash. if volatile markets like this, you know what we have to do? we have to we got to get a read of the fundamentals. i say maybe we ought to fall back on the technicians and the technicals, the charts, because it takes your subjective judgment out of the equation. certainly not. you got to get the emotions out of this thing. it's really wild. and that's why we're going off the charts with the help of jessica inskip. she's the first woman on the active trader desk at fidelity. she's now director of investor research at stockbrokers. com she also hosts a she's a co-host of a podcast and it's called market maker. as inskip sees it, this market has become real ugly. but she's not sweating the trade war. see, in her view, we've seen this movie before during trump's first term. so take a look at this chart of the action. the s&p 500 from january 2018, when trump's first trade war kicked off through the end of his term. now, if you put $1,000, that's there, if you put $1,000 in the

s&p at the beginning of the trade war with china in 2018, and then you held it through january of 2021, well, guess what? you would have had $1,841 and an 84% gain in three years. i'm calling that pretty darn good. at various points in 2018, the s&p 500 had substantial drawdowns, including a major pullback in the fourth quarter of that year. when covid hit in 2020, there was another huge pullback in which the market lost about a third of its value. the ideal moment to buy at the start of the first trade war, 2018, was about three months in when the market had been obliterated and wall street was ready to throw in the towel. sound familiar? so even if you think that this is insane policy and a lot of people do, even if you're convinced we're headed for a recession, a lot of people are, that's still not a reason to give up on the entire asset class. if you just bought an s&p 500 index fund in early 2018 and sat on your hands for the next three years. hey, come on, you would have made out like a bandit, granted that you would have done even better if you'd waited a few months for the average to come down. timing is real hard. even if you bought it the worst time, you still made plenty of money if you kept it.

now let's go through the recent action here, starting with this weekly chart of the s&p 500. and this is opinion. it's pretty ugly chart. no kidding. you probably think it's ugly too. she likes to track the 13 week, the 26 week series and the 40 week moving averages that translate into one, two and three quarters. and right now, all of these key moving averages are sloping downward, meaning we've got a real strong bearish trading cycle. and this says it's going to stay bearish until the s&p breaks out above its 40 week moving average at 5769. so it's got to go up here. that's up nearly 200 points from here. all major defensive lines have been breached and they're now acting as resistance. worse the downturn down downward momentum is pretty extreme. okay. now how about the daily chart of the s&p 500. oh man. this one is even uglier okay. look at this thing. we i mean come on. inskip points out the s&p has fallen through the bullish cup and handle formation. that gave us such a positive backdrop going into the election and led to the big

post-election rally. all these gains have been erased. the key resistance level is up almost a hundred points from here. that's huge. now we've nearly pulled back to levels last seen in august of last year, when everyone was worried about a recession because inflation wouldn't go away, meaning the fed had no reason to cut interest rates. then we got a cooler than expected inflation reading and the market bounced right back. i think it's important to remember that good things can still happen. the fed could turn things around with rate cuts, or the trump administration could turn things around, taking a more methodical approach to the trade war. remember, i'm in favor of tariffs. i just want to be methodical. of course, if we get an excessively hot inflation meeting nightmare. now let's talk about the s&p equal weighted okay. the equal weighted chart which is all the same stocks as the s&p 500. but rather than weighing them by market cap these are all weigh the same. now we like this one because it lets us see what the market would look like without the influence of the mega cap tech stocks. notice we don't use the term magnificent seven anymore because they're not magnificent. sure enough, the s&p equal weighting is a lot less volatile than the s&p 500.

but you know what? it's still pretty ugly. inskip notes that we got a bearish trading cycle here too, with the 13, 26 and 40 week moving averages. remember those are up there okay. they're they're going in the wrong direction. however this index has been coming down with a lot less momentum than the normal s&p 500. if the s&p equal weight keeps breaking down and falls below 6.691, inskip says, we risk a bearish cycle emerging that level down about 350 points from here needs to be maintained. on the other hand, the s&p equal weight can actually finish the week above the 40. okay. so you got to be above. she'd find that somewhat encouraging. finally let's take a look at tech as represented by the xlk. all right. this is a spider fund that oh man i can't even look at it. frankly. she says that a strong bearish momentum and that it might be putting at well look strong bearish i mean this is the definition of bearish. the s&p tech etf has offshore support at 205. down $3. and change from

here which represents the trend high from back in march of last year, the higher low in may and the gap up in august. she says. this is a tested and key level, but if it fails to hold, the xlk could then drop to 190. if tech keeps coming down to the expected 200 day moving average to come down to the 190 level, and when that happens, we might have a true bottom on our hands. but she's definitely not willing to call a bottom right now. i'm not getting any positive vibes from this stuff. i mean, the bottom line the charts are interpreted by jessica inskip. do not paint a pretty picture at all. let's not sugarcoat. however, she also points out that if you bought stocks the last time president trump started a trade war and wall street flipped out, you had a huge gain by the time he left office. maybe that's the best takeaway. and if you bought during the trade war lows, then you made out fabulously. now, i don't think we're anywhere near there yet, but i also think we're getting closer. i want to take some calls in this discouraging day, although certainly less discouraging than yesterday. let's start with david in texas. david.

>> hello, mr. >> cramer, i'm a first time caller. >> but long time. >> follower all. >> the way back. >> to the.com bubble. >> oh my. then you really are with me the whole way and i really appreciate that. i love long termers how can i help. >> well. >> a year. >> or so. >> back you had. >> the ceo. >> of. >> this company on the show and this stock in the 30s. i believe it's been a good one. stock recently hit a high a. little over. 500 a share. with the recent market pullback. >> it's fallen. >> into the two 50s a share. mr. cramer. >> how do you feel. >> today about. >> stock symbol app applovin. >> thank you. this is the one of the greatest momentum stocks of all time. and they deliver huge cash flow at the end of the year i think the stock can bounce. but i'm not going to go out there and be real bullish because any stock can be cut in half that quickly is not a stock i want our people in, and i thank you for your support, but i don't like stocks to be cut in half like that. let's go to joel in new jersey. joel. >> hi jim joel from new jersey here berkshire hathaway is near

all time highs with tariffs in play. do you still see it as a good value buy or was. >> your favorite? i'll tell you the truth i'm not even going to spend a second on it. that's how much i like it. and by the way, it passed tesla. that's one of the reasons why i say that i banned that particular term that involves steve mcqueen and yul brenner. i won't say it on the show, because berkshire snuck up there and a couple others have snuck past tesla. so how can you have seven stocks if one of them is the 10th? this is a terrific stock. and the last quarter i read the quarterly report. it's just it's smoking. just own it. just own it. why don't we go to ryan in mi, which i guess is i'm in missouri. is that a no? minnesota. whatever. michigan. hey, am i man, i forgot it's been so long. michigan. go ahead. i'm sorry. ryan. what's up? >> hey what's up jim. >> i was. >> i don't know. i mean, you know, i thought that we had a positive day going. tell you, ryan. and then there's just too many people who are nervous. too many people are worried. how can i help you? >> oh, yeah. i thought the day was. pretty good, too. i was

curious about netflix. >> oh. >> don't be curious. it's terrific. it's a subscription. revenue. i'm going out three. i'm going to give you one in threes. netflix has subscription. amazon has subscription and spotify subscription. and subscriptions are one of the great. i haven't started a subscription business and had some modicum of success. i can tell you there's nothing like a subscription for just the day to day cash flow. you should own netflix. they've done a very good job. i thought the de niro thing was good. it was done by noah and he used to work with us. i don't know, whatever. people get the i like netflix anyway. look, if you bought stocks the last time we had a trade war under trump, but guess what? you did really well and you had to hold it. charts don't paint a rosy picture for the market right now, though, and i do think we're closer to the end than the beginning. that's my own judgment. i'm not thrilled with what's happening. much more mad money ahead is the market volatility continues. i'm leaving no stone unturned. i'm revealing a buying opportunity. one of the hardest hit sectors, the ai infrastructure space, which everybody hates. and after today's tariff news, i'm doing a deep dive on the potential cross sector sector effect of these

headlines. and of course, all your calls. rapid fire tonight's edition of the lightning round. so stay with cramer. >> the consume pri index for february. crucial new insight into inflation and the health of the economy. what it means for your investments right now. stay your investments right now. stay ahead of the market. squawk box (vo) weight loss. for so long, i felt stuck. but zepbound means change. zepbound is for adults with obesity to help lose weight and keep it off. it's changing what i believe is possible when it comes to weight loss. it's changing how much weight i lose. up to 48 pounds. and some lost over 58 pounds. ♪ don't take if allergic to it, or if you or someone in your family had medullary thyroid cancer or multiple endocrine neoplasia syndrome type 2. tell your doctor if you get a lump or swelling in your neck.

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>> another day, another sell. off thanks to more tough tariff talk from the well. walmart. white house. i'm going to keep saying that until maybe there's a kind of a letup. yeah, the canadians say the session by rolling back their 25% electricity surcharge. but it didn't rally for long, did it? i don't know exactly when this decline is going to end. i don't really pretend to, but anytime the market rolls over like this, well guess what? good stocks end up being taken out with bad ones, and once the dust settles, you'll be kicking yourself. if you didn't buy something at a

discount. that's why all week i'm highlighting these high quality stocks that have been put on sale. sell sell sell sell. tonight i've got another one for you. that said, this one is at the center of the blast zone. dell technologies, the iconic maker of personal computer servers and storage equipment that i've liked for a very long time. dell is going from one of the big winners of the ai infrastructure story to a name that just can't seem to catch a bid, as investors have turned against anything, anything ai related. dell servers are the way that many enterprise customers actually get access to nvidia's fancy chips, and their storage products are used in many ai infrastructure stacks on top of the hardware. the company has a consulting business that basically tells customers what they need as they build out their ai infrastructure. that's why the stock rallied 90% in 2023, and more than doubled in the first five months of last year, charging all the way up to 180in last may. wow. that was halcyon times. since then, though, the stock of this amazing company has been acting terribly. it's essentially been cut in half, falling back to the

low 90s today. now, initially there was a period of choppy trading last summer, and after a couple of mixed quarters, you know what? that's what happened when i covered the stock last september at 110. i told you it was still worth owning. sure enough, the stock then rebounded to $147 and change in late november. since then, though, the stock has really rolled over again and it's been trading well, let's say it's been trending lower. how about that? and some of it has to do with the belief that no one's going to make any money off of ai except nvidia. now, obviously it doesn't own the whole ai edifice is completely collapsed, at least in the stock market. anything connected to it has been obliterated. it's a curse word. some of it has to do with this deep sikh outfit. the chinese company that said they can build a functional ai model with far less hardware. but a lot of it comes down to a general sense of uncertainty about the future. the thing is, dell, hp inc. and hp enterprises have all reported earnings over the past couple of weeks. and i got to tell you, after hearing what they had to say, i think dell is by far the best of the bunch. both dell and hp inc. have suffered from the fact that the new ai powered pc cycle never really kicked in, and with rapidly deteriorating consumer

confidence, it's not going to come around anytime soon. but both dell and hp are about pcs and something else. dell's pcs and infrastructure, meaning mostly servers and storage equipment with a roughly even split between the two segments, whereas hp is pcs and then the much smaller printing business. now, if you don't feel great about the personal computer business, then it makes a lot more sense to own dell with its big enterprise component. i know there's a lot of hesitancy about ai infrastructure here, but i simply don't believe that the theme is dead. what about dell versus hewlett packard enterprise, the other big player in the servers? well, simple. look at the numbers. both dell and hp enterprise reported quarters that the market didn't love. dell delivered a mixed set of numbers at the end of february. it was a revenue miss, paired with a 15% earnings beat and a solid full year forecast. the only big hiccup was disappointing guidance for the current quarter, but dell explained that they expect the business to ramp into the end of the year. i believe that actually sounded mostly okay to me, even though the stock slid

7% in response. i thought that was an overreaction, given the fact i thought it would be down like maybe 1 or 2%. i read that wrong. hewlett packard enterprise, on the other hand, reported last thursday and they delivered a slight top and bottom line miss. these guys are one quarter into the 2025 fiscal year, and they just issued their full year forecast, and they came in very light. wall street didn't like their guidance for the current quarter either. the stock just got completely clobbered immediately. both dell and hp enterprise are dealing with the same problem in their core server business, which is lower margins from the newer ai server models. they both have excellent demand for the products. dell, in particular, boasted that its ai backlog has doubled since the end of october 20th, 2024, up from 4.5 billion to 9 billion. and that's largely because of demand for nvidia's blackwell platforms. one of the reasons why i still hold on to nvidia, even though in many ways it's become a meme stock, as i've been telling you, and dell is simply executing better than hp enterprises, as i explained in the past. dell's margin issues, which first started to emerge last spring, were mainly caused by the fact that they were keeping. they kept selling

big blocks of servers to huge customers like the hyperscalers. as they start to sell more of these ai servers to other customers that have less bargaining power while the margins are going to come up. plus, they expect to see some progress on costs towards the end of the year. dell generated $1.5 billion in cash flow this quarter. hp enterprise had negative cash flow of $877 million. big difference. on top of that, hp enterprise admitted to execution issues, which contributed to a slight miss for the quarter and the like. forward guidance. i didn't like that quarter at all. complicating matters further is the company's pending acquisition of juniper networks, which was announced over a year ago now but has languished due to antitrust concerns. by the way, in late january, the new justice department, in a move that really surprised many, formally challenged the merger on antitrust grounds. that was something i would have expected from jonathan kanter, the previous guy. everybody thought trump's antitrust regulators would ease up, but they're still going after these tech companies. so here's my thinking in a nutshell. i still believe in the ai infrastructure thesis. i feel like i'm dwindling number of people do. and i think the selling in this group has gotten overdone, creating some incredible buying opportunities. when you look at the potential

ways to play the ai infrastructure, you should be thinking about dell. it checks all the boxes. boxes. now, to be clear, dell is not without risk. they, like you, could be hit by the tariffs if the ai infrastructure investment boom doesn't materialize the way i expect, well, then you're going to get hurt. but i got to tell you, i'm betting these potential negatives have already been baked into the share price. given that dell stock has essentially been cut in half over the past nine months, including a 38% decline from its post-election highs after its recent weakness, dell now trades at less than ten times this year's earnings estimates, down from 20 times when the stock was at its 52 week highs last may. that's amazing. that's the lowest multiple the stock has experienced since mid 2023. so the bottom line i want to bet that things aren't as bad as the ai infrastructure space indicate, as the actions of the stocks would have you believe. and after evaluating all the options, i got to tell you, i think dell is the way to play it. mad money is back after the break. >> coming up cramer takes your calls and the sky's the limit.

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patty in it is using ai agents to deal with the small stuff, so she can work on the big stuff. and ai helps jim solve customer problems before they're problems. oh. so we all work better, together! my work here is done. excuse me, which way back? brilliantly. >> it is time for the first. >> above the line. just put it right. at the time i stepped. up and then the lightning round is over. are you ready, ski daddy? time for the lightning round. i want to start with jake in new york. >> jake what's up? jim, how are you doing? >> i'm doing fine. jake. what's up with you, buddy? >> i'm. >> i'm okay. i would like to shout out your crew, though.

great crew. >> who is unbelievable. >> they make me look good. >> and i'm grumpy and they're not. what's up? >> so i feel like everybody's. >> a little excited. >> about, you know, tariffs. and we. >> like, you know, we. >> make plastic stuff in china. >> for like pennies. >> and we sell them. >> in the. us for. like tens of dollars. and that's no big risk. so my question is about crocs. >> crocs crocs. >> we got on holdings of 45. and you come to me with crocs. come on man jake, step up to the plate. crocs. no. on. yes. all right. now we're going to go to mike in connecticut. mike. >> jim. jim, thanks. >> for taking my call. >> and i have to thank you again. >> you and. >> staff, you've. >> been so valuable throughout. >> the years. >> well, we got got a good seven, 20 years. it's like 20 years now look. what's that all about? i guess when i'm 25, they'll give me a gold watch. that's okay. i got an apple watch. what's going on? >> all i can say. >> is take that off spin. >> this stock is. >> very cheap. >> right now. >> last year. >> it. >> had a. >> reverse split.

>> and usually that's a sign of weakness. >> but i don't think. >> so in this case. >> and it also. >> spun off from liberty. >> media last year. what do you think about sirius radio. >> no. >> i'm going to disagree with you on this one. i plus, you know, it is related to autos and autos aren't selling well right now. and that's going to be everyone's going to know that i just told it to you right now. i want you to know that we're going to stay away from sirius. it's just not a serious stock at this point. i need to go to stafford in colorado and california. stafford. >> hey, jim. >> how are you? >> all right, how about you, stafford. >> i'm okay. thanks. i want to get your thoughts. >> on. >> autozone in. >> this type of economic. >> eiko i love it that buyback with so much stock. it's really incredible. i think those guys are fantastic. let's go to i don't know how about you go in ohio you. >> go. >> yes jim it's. >> always a. >> pleasure to be back. >> on your show. >> thank you very much. what are you doing? my question. >> is tonight. >> that's great. >> yeah. what what. >> do you think about. >> timken symbol tkr.

>> the tkr kind. you know what? they're too late right now. they're levered a bunch of industries that are really slowing down. as much as i like the company very much, i'm going to have to say no to timken. tiktok. let's go to sandy in new york. sandy. >> thank you. jim. >> this is sandy. from syracuse, new. >> york, the. >> future home. >> of potentially micron. >> so i'm wondering. >> if i should sell. >> or hold on to my micron. >> shares okay. so micron is going to be under pressure. they took some money from the government. it's not their fault. it was the money they were giving away. and the chip program. if they come after if president trump comes after micron, he's coming after me. but sandra marotta is really terrific. and he's been an amazing man who has built a manufacturing empire in our country along with his predecessors. that's the jewel of our country. please don't go after that one. president trump, let's go to charles in new york. charles. >> hi, jim. josh. >> i'm a big. >> fan of your. >> show, and i've been a club member. >> since virtually the beginning. >> yes. that's fantastic. big

call on thursday. you want to be there? i'm going to i'm going to take apart a couple of tech stocks. what's going on? >> i've been holding. >> regeneron for. >> a. >> long time. >> now and. >> it's doing great. >> and i agree. >> with you. >> that they're. >> staffed by geniuses. >> who have done fantastic things. >> absolutely, absolutely. >> again. >> since. >> august, the price. >> since i saw it, since i saw len up there at the saratoga racetrack where i hit big, by the way. thank you, vinnie, for that little tip. but i will tell you this, regeneron, i want you to own it. i think it's doing better than people realize. that is a good stock. and i'm going to give you a two for i still like bristol-myers. and that. ladies, gentlemen, conclusion of the lightning round. >> the lightning round is sponsored by charles schwab. coming up, tariff turmoil continues to roil the market. what trump's approach could mean for your money next. tomorrow,

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need now from your structured settlement call now. >> damon. >> you are a great dad. >> you've been following me. >> this and not like this. >> i was broke. this can be worn to the club. you know what i'm saying? hit me. >> up later. >> shark tank, coming up next. cnbc. don't miss a members only event. >> we make sure that club members get the access they need to make more informed decisions. >> join the cnbc investing club to access gyms monthly meeting. go to cnbc. com slash monthly meeting. >> when it comes to tariffs, there are two ways to do it. you can burn the forest down or you can do a controlled burn. right now with canada we're opting to burn the forest down. let's go over this. i think trump's heart is in the right place on this

issue. our alleged trading partners are absolutely taking advantage of us. america is the only country that plays by the rules on trade. they love getting cheap stuff, even if it devastates entire industries here. but president trump needs to explain his reasoning, and he needs to roll the tariffs out in a systematic, non capricious way. if he did this methodically, if he spoke softly and carry a big stick, i think he'd get a lot done. that's the controlled brushfire that shows we can handle things. not personal, just business. instead, we're using flame throwers and high explosives and they aren't working. it's telling that the greatest success president trump has had so far is with mexico, because it's been quiet and forceful. trump spoke softly, but carry a big stick with mexico like theodore roosevelt. well done. i understand that trump felt trapped by mark carney, the canadian prime minister designate, who came in way too hot and very unlike himself, actually. i get it. the canadians were hopping mad. carney poked the bear with his rhetoric. sure, trump shouldn't be calling canada the 51st state. got to stop that, too. but he's got the cards. he can get away with it. the problem is, when it comes to canadian aluminum, we don't have the

cards because we've been steadily closing aluminum smelters for years for a multitude of reasons. expensive. dirty. crummy. management. reuters reports that the vast majority of imported aluminum comes from yes, canada, a 3.2 million tonnes cannon. canadian ports were twice those of the next nine countries combined. there's no way to make up for that. which means if this 50% tariff gets implemented, it's going to get passed on to you. cars, trucks, planes will all get more expensive because we have no choice. we can't get enough aluminum from anywhere else. it doesn't work. so prices must go up for the vehicles of every major auto company, including the one you buy. and how can the hobbled boeing, which builds planes mostly out of aluminum, handle it? i have no idea. 70 to 80% of their planes are aluminum based. i don't think any execs involved can say anything. oh, come on, they'd all be eviscerated by trump. did they do it? and they know it. and believe me, i know it. plus, if canada doesn't play ball, you have to assume the president will go after their lumber industry. almost 30% of our lumber comes from canada. that will make our housing totally prohibitive. it would cause a real recession quickly, i think. look, we don't have any choice with lumber.

unfortunately, these trees, they just don't grow fast. back to life. very inflationary. where's the artificial intelligence trees? these auto and aerospace companies are gigantic employers, the last bastion of high paying, union based factory jobs that trump says he likes. they are the base, so to speak. i don't know how we're going to deal with this without laying off the base. trump should recognize it. look, i wish it weren't. i wish it were as simple as reopening old aluminum foundries. we can make up the difference on the steel tariffs because we have spare capacity when it comes to aluminum. canadians, they got a corner. trump doesn't realize that the stock market isn't some idle abstraction. it's a barometer of how the country is doing. it's a barometer of how people are feeling. the numbers, according to the washington post, indicate the vast majority of people in this country have no idea why this is happening. they know it's worrisome, worrisome for them, and they're spending much less than they did even two months ago. some remember that they were taught in school that tariffs were bad. others know that their jobs are in jeopardy if consumer sentiment turns very negative because it's a service economy, they don't want to lose their jobs because of the tariffs on canada. they thought canada was okay. that's what happens when you cause a forest fire instead of a controlled

brushfire. unless the president is less impressed with william mckinley and more impressed with his successor, theodore roosevelt, it won't just be a forest he burns. he'll end up burning down the whole village in order to save it. i'd like to say there's always a bull market somewhere. i promise to find it somewhere. i promise to find it just for you right here o narrator: welcome to the shark tank, where entrepreneurs seeking an investment will face these sharks. if they hear a great idea, they'll invest their own money or fight each other for a deal. this is "shark tank." ♪♪ i'm meagan bowman. i'm from ogden, utah. i live with my husband, wes, and our two beautiful daughters. entrepreneurship has always been inside of me. ever since i was a little kid, i was doing bake sales and haunted houses and any other way i could raise money for myself. since childhood, my life has been a little tough. finding a career path was tough, and i fell back on welfare. being on welfare was humiliating.