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Forget about the Federal Reserve. The things that really matter to America's biggest companies are time and anti-competitive regulations, Jim Cramer told his Mad Money viewers Wednesday. Cramer said both Facebook (FB) - Get Free Report and Apple (AAPL) - Get Free Report , two Action Alerts PLUS holdings, delivered terrific earnings, but their upside remains stunted.

With so many streaming and entertainment options, there simply aren't enough hours in the day to consume it all, Cramer explained. That means that even if Apple were to buy a sports league like the NFL, NBA and MLB or any number of competing streaming services, it really wouldn't matter to Apple's bottom line.

Time is the enemy, he said.

So, too, are the government regulators that are pushing hard against our largest companies, keeping them from getting any bigger.

Facebook has come under intense scrutiny from regulators, and that has limited the company's growth options. Success has become politicized, Cramer said, and too much of it is now a bad thing. If you're Facebook, Apple, Amazon (AMZN) - Get Free Report or Alphabet (GOOGL) - Get Free Report , regulation is now the new normal. 

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Executive Decision: Wingstop

For his "Executive Decision" segment, Cramer spoke with Charlie Morrison, chairman and CEO of Wingstop (WING) - Get Free Report , the restaurant chain that delivered a three-cents-a-share earnings beat that sent the stock up 1.5% by the close.

Morrison said Wingstop still sees its best years ahead, Morrison said. The company is in their 16th year of positive same-store sales growth and is still on pace to deliver 10% unit growth for 2019. They continue to expand their digital ordering, which now stands at 36%, and they are expanding their partnership with DoorDash for delivery services.

Morrison was also bullish on Wingstop's prospects overseas. He said chicken wings are a food that translates well all over the world and they are seeing positive results in Mexico and with their locations in London.

When asked for more details on their delivery plans, Morrison explained that DoorDash has been a terrific partner as they are focused on service and are a perfect complement to the Wingstop brand. He said they will continue to expand their delivery options. 

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Executive Decision: Trex

In his second "Executive Decision" segment, Cramer again sat down with Jim Cline, president and CEO of composite building materials maker, Trex (TREX) - Get Free Report , which posted a four-cents-a-share earnings beat earlier this week, but also a revenue shortfall with subdued guidance. Shares of Trex have fallen 7% in the past week.

Cline said the Trex story remains strong and consumers still prefer Trex, with its 95% recycled content, over traditional building materials. He said the residential repair and remodel market continues to drive their growth.

Cline continued by saying that 2020 will be another growth year for Trex, but with demand outstripping supply, he's excited for 2021 when they're able to bring additional manufacturing capacity online. He said that despite new competition, Trex still only has one competitor and that's wood. Traditional wood products still account for over 84% of all decking materials sold. 

Spotify's Sounding Better 

Is it time for Spotify (SPOT) - Get Free Report to rock and roll? With shares back to their IPO price from last year, Cramer said the streaming music provider may have finally found its footing.

Spotify came public to a lot of excitement in 2018, but after a short rise, shares have been sliding lower since. Cramer said part of the reason is that investors haven't been able to determine which metrics really matter for Spotify. Should they pay attention to active users, paid subscribers or revenue? Even the analysts aren't sure, which has led to upgrades and downgrades that make following the stock a dizzying experience.

But this past quarter, the company finally put all of those questions to rest with a 28% rise in year-over-year revenues and a 30% gain in subscribers. Shares responded by rallying 3.2%, and Cramer said the company is now positioned for long-term successes, thanks in part to a non-promotional management team that never overplays their successes. 

On Real Money, Cramer has some more suggestions for the health of your portfolio: drug stocks. Get more of his insights with a free trial subscription to Real Money.

Drug Stocks Are Too Cheap

In his "No-Huddle Offense" segment, Cramer said big pharma may have gone out of style on Wall Street, but the stocks are simply too cheap to ignore. He said that Pfizer (PFE) - Get Free Report now trades at just 14 times earnings, making it a steal, while Merck (MRK) - Get Free Report is seeing positive results in its anti-cancer treatments that make it a big winner as well.

Cramer was also bullish on a host of other pharma names, included Biogen Idec (BIIB) - Get Free Report , Amgen (AMGN) - Get Free Report and Bristol-Myers Squibb (BMY) - Get Free Report , with its 3% yield. He also expected to hear good things from AbbVie (ABBV) - Get Free Report when it reports later this week. 

Lightning Round

In the Lightning Round, Cramer was bullish on Cedar Fair (FUN) - Get Free Report , Square (SQ) - Get Free Report , MGM Resorts (MGM) - Get Free Report , Idexx Laboratories (IDXX) - Get Free Report and Marvell Technology (MRVL) - Get Free Report .

Cramer was bearish on Six Flags (SIX) - Get Free Report .

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At the time of publication, Cramer's Action Alerts PLUS had a position in FB, APPL, AMZN, GOOGL, MRVL, ABBV.