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Cramer's Mad Money Recap: Advanced Micro Devices, Google

Jim Cramer says this was a good day to celebrate owning the stock of the greatest companies.
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Wednesday was a day to celebrate owning some of the best stocks around, Jim Cramer told his Mad Money viewers. It was not a day to be contrarian and short them.

Love them or hate them, the short sellers are here to stay, Cramer explained. But for as exciting as it may be to take the other side of the trade, shorting a stock can be a dangerous game. Case in point: Advanced Micro Devices  (AMD) - Get Advanced Micro Devices, Inc. Report.

Over on Real Money, Cramer writes: "I'm grateful for those who say that they like to short everything I like, because crow is a dish best tasted cold, and are they ever eating a ton of it." Read the full column and get more of his investing ideas and strategies.

Back when Intel  (INTC) - Get Intel Corporation (INTC) Report ruled the chip world, and AMD traded near $5, Cramer admitted he didn't give the company much thought. But when Lisa Su took over as CEO, Cramer did an about-face. Su transformed AMD into an engineering powerhouse that has largely left Intel years behind the curve, and shares have rallied to near $100 a share. With AMD likely to close on its Xilinx  (XLNX) - Get Xilinx, Inc. (XLNX) Report acquisition by the end of this year, Cramer said AMD still has a long way to run.

The same applies to other stocks investors like to bet against. Many investors short shares of Alphabet  (GOOGL) - Get Alphabet Inc. Class A Report at their peril. Google is constantly improving every aspect of their operation, from YouTube to the cloud and beyond.

Then there's Boeing  (BA) - Get Boeing Company Report. Between the 737Max grounding and continuing Dreamliner delays, it would seem like Boeing would be an easy win for the shorts. But China needs planes, lots of them, and there are only two companies that can provide them. That means shares of Boeing are also moving higher, troubles and all.

So the next time you're thinking about shorting a great company, think again, Cramer concluded, the chances you'll be right are slimmer than you might think.

Cramer and the AAP team are looking at everything from earnings and politics to the Federal Reserve. Find out what they're telling their investment club members and get in on the conversation with a free trial subscription to Action Alerts Plus.

Executive Decision: Wingstop

In his first "Executive Decision" segment of the night, Cramer spoke with Charlie Morrison, chairman and CEO of Wingstop  (WING) - Get Wingstop, Inc. Report, the restaurant chain that just completed 17 consecutive years of positive same-store sales growth.

Morrison said Wingstop invested heavily into digital sales, even before the pandemic, which put it in a great position to weather that storm. During its most recent quarters, 65% of sales came from digital and that number is increasing every quarter. Wingstop is also moving beyond just chicken wings, Morrison added. The company is planning big promotions around tomorrow's "National Wing Day" that include chicken thighs as well.

Cramer was excited for Wingstop's plans to enter Manhattan. Morrison said that their first location will be opening within a few weeks and there are 25 locations planned by 2023, all of which will be company-owned. Wingstop is not stopping with New York, Morrison said. They are already a global brand that is growing quickly in Europe as well.

All of this growth comes at a time when chicken prices are up 60%. Morrison said he believes prices will stabilize in 2022, giving the company even more earnings power.

Executive Decision: Rockwell Automation

For his last "Executive Decision" segment, Cramer checked in with Blake Moret, chairman and CEO of Rockwell Automation  (ROK) - Get Rockwell Automation, Inc. Report, the industrial automation provider that just posted 26% organic growth. Shares responded up 1.9% on the news.

Moret said that Rockwell's mission is to empower highly-trained and engaged workforces with state-of-the-art factory automation technologies and systems. Rockwell's recent acquisition of Plex Systems for $2.2 billion will extend their capabilities with all new cloud-native software solutions.

Moret added that Rockwell currently has recurring revenues between 5% to 6% of total sales. Plex will add another 2% to that figure, putting them at roughly 10% recurring by the end of the year.

It's not just factories that use Rockwell, Moret continued. E-commerce and warehouses also need conveyors, sorting machines and communication systems to run efficiently. And while Amazon  (AMZN) - Get Amazon.com, Inc. Report is a big Rockwell customer, Moret added that many retailers are also upgrading their operations to more efficiently receive, sort and restock their omnichannel operations.

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Rockwell even has technologies for tire manufacturing. Moret said they offer a single control platform that can mix materials, mold tires, cure them, and handle the entire process.

Don't Overthink Big Tech

When it comes to big tech, don't overthink it, Cramer told viewers. All of the big tech giants delivered monster earnings this quarter, and while Wall Street may have sent their shares lower, they still deserve to be bought.

Cramer said that Apple's  (AAPL) - Get Apple Inc. (AAPL) Report earnings were spectacular, with this Action Alerts PLUS holding beating revenue and earnings estimates in every category including iPhone, iPad, Mac, services and wearables. But that didn't stop shares from selling off after Apple warned of supply constraints on the horizon. Cramer told viewers that people are more than willing to wait if their favorite Apple devices are delayed, which is why shares should be bought into weakness.

Next up was Microsoft  (MSFT) - Get Microsoft Corporation (MSFT) Report, which would have seen a huge rally had it reported at anytime other than today. Like Apple, Microsoft beat estimates in every segment and received multiple analyst upgrades. Microsoft is also a buy according to Cramer.

Finally, Alphabet remained a favorite. As our economy reopens because advertiser dollars are flowing back to Google and YouTube, and the company's cloud offerings are picking up steam as businesses keep digitizing their operations.

Companies Can't Win For Losing

In his No-Huddle Offense segment, Cramer said the future is getting tough to predict right now. Throughout much of the second quarter, it looked like we were beating COVID. But then things changed in July, when the Delta variant surged, China began cracking down on capitalism and we learned just how bad our semiconductor shortage had become.

With all of this going on, how are companies supposed to talk about their outlooks? It doesn't seem to matter which route they choose, Wall Street hates all of them. If you're bullish and you miss your numbers, you lose. If you're conservative and you make the numbers, you lose. And if you give no guidance at all, well, you also lose.

That puts companies in an impossible position, Cramer concluded, and even our best companies aren't immune.

Lightning Round

Here's what Jim Cramer had to say about some of the stocks that callers offered up during the "Mad Money Lightning Round" Wednesday evening:

Roblox  (RBLX) - Get Roblox Report: "The last quarter was not as good as we thought, but I think it's gonna snap back."

Fast Acquisition  (FST) - Get FAST ACQUISITION CORP Report: "You want to be with them, not against them. I bless it."

Cassava Sciences  (SAVA) - Get Cassava Sciences, Inc. Report: "This is a hard field. if they succeed it's worth a lot, but if they fail it's worth a lot less. That makes it too hard."

Western Digital  (WDC) - Get Western Digital Corporation Report: "This is an inexpensive stock. I also like Micron Technology  (MU) - Get Micron Technology, Inc. (MU) Report."

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At the time of publication, Cramer's Action Alerts PLUS had a position in AMD, GOOGL, AAPL, MSFT, AMZN.