He said the company is investing heavily in new warehouses to deliver more goods faster, ultimately making customers even happier. Meanwhile, it's expanding gross margins by 8%. What's not to love?
Starbucks also reported a strong number with same-store sales up 7%. But the headlines only focused on a decline in sales that started in June and continued into early July.
Cramer said the company seems to have hit a wall, which is worrisome, but even on the company's conference call things seemed to already be getting out of hand, with analysts panicking. Cramer said he's taking more of a wait-and-see approach to Starbucks.
Finally, there's Facebook. Cramer said Facebook's first conference call was "just plain weird," more of an infomercial for itself rather than an update on how the company is doing. He said it's clear that Facebook needs a sales force to sell it's good and cannot rely on a self-service approach for advertisers like Google (GOOG). The company was overvalued at its IPO, he said, and remains overvalued today.Facebook may know its users, Cramer concluded, but they're still amateurs at making money.