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NEW YORK (TheStreet) -- All roads lead to China, Jim Cramer told his Mad Money viewers Wednesday. If a company has business in China, the markets have declared it in bear market mode, Cramer continued, but if not, then its stock is a buy, buy, buy.
This mindset was clearly on display with Apple(AAPL) - Get Report, a stock which Cramer owns for his charitable trust, Action Alerts PLUS. Apple reiterated that China will be a great driver of growth for years to come, but when it also mentioned there will be some "speed bumps" in that growth, the markets took shares of Apple down 4%.
A similar story rang true with United Technology(UTX) - Get Report, which cited softness in its Otis Elevator division in China, and with BEA Aerospace (BEAV) , which mentioned slowing private jet sales in China, news that sent shares tumbling 12%.
Cramer said he's not worried about Apple, as the markets always overreact to the downside. He told viewers to sit back and wait until the panic subsides.
In the meantime, Cramer was bullish on domestic restaurants, supermarkets and retailers, including Domino's Pizza(DPZ) - Get Report, as well as homebuilders and biotechs. He also reiterated his buy on Google(GOOGL) - Get Report, another Action Alerts PLUS name that just so happens to not do any business in China.
Executive Decision: Michael Rapino, CEO Live Nation
For his "Executive Decision" segment, Cramer sat down with Michael Rapino, president and CEO of Live Nation Entertainment(LYV) - Get Report, the live music production company with 158 venues in six countries as well as four of the top five music festivals in the U.S.
Rapino said that Live Nation is all about the live concert side of the business. He said his company now has a complete ecosystem that provides everything from ticket sales to food and beverages and even live streaming of shows to drive digital advertising dollars. In a world where artists make 90% of their income from playing live, Live Nation is becoming increasingly important.
Rapino continued by noting that Live Nation will produce over 25,000 shows this year, including 66 music festivals around the globe. Thanks to technology, artists are becoming known worldwide, he said, leaving Live Nation with lots of room still to grow.
Live Nation is both a business-to-business company, attracting artists and venues, but also a business-to-consumer company, thanks to its acquisition of TicketMaster. Rapino said they now have the ability to know their customers even better and offer more personalized services.
Look Closer at These Techs
Stocks like Ambarella(AMBA) - Get Report, Fitbit(FIT) - Get Report and GoPro(GPRO) - Get Report might seem ridiculously expensive at first glance, but when you take a closer look at the numbers, Cramer said these companies actually make a lot of sense.
The GoPro bears argue that this commodity hardware maker will soon lose its edge to knock-off competition, while the bulls continue to have faith in the company's ability to innovate with new products. Who's right? Cramer said GoPro is about more than just hardware, it's also an ecosystem that includes software, sharing and a passionate fan base that's not likely to go away overnight. Given that GoPro is growing revenue by 71% year over year, Cramer said this stock is a buy going into the holiday season, even at 31 times earnings.
Then there's Ambarella, the brains behind GoPro and a whole lot more. Shares trade at 35 times earnings, but given the company's 200% revenue growth this year, this is also a stock worth owning on any weakness.
Finally, there's Fitbit, the leading wearable fitness tracking company. There's no doubt Fitbit is expensive at 61 times earnings, but the earnings estimates are likely too conservative, Cramer said, and here again, 200% revenue growth is hard to argue with. He'd be a buyer on any 5% to 10% pullback in the company's shares.
Executive Decision: Jeff Marrazzo, CEO Spark Therapeutics
In his second "Executive Decision" segment, Cramer also sat down with Jeff Marrazzo, co-founder and CEO of Spark Therapeutics(ONCE) - Get Report, a development-stage biotech company working on gene therapies to cure some rare genetic diseases.
Marrazzo explained that gene therapy aims to correct the underlying causes of certain diseases by delivering the necessary genes to patients that need then.
Spark's first drug, which targets the RPE65 gene that causes blindness in some children, is thus far showing miraculous results. Marrazzo said that RPE65 is one of over 200 genes that can cause blindness, which makes his company hopeful that their therapy can be applied to other genes as well.
When asked about the explosion in gene therapy treatments, Marrazzo said the growth is two-fold. First, there is better genetic testing available to discover and understand which genes are in play and second, there are new technologies available to attack the problem genes.
Spark is also exploring treatments for hemophilia and other diseases. Cramer said this company is capable of amazing things.
Cramer was bearish on Twenty-First Century Fox(FOXA) - Get Report, Exact Sciences(EXAS) - Get Report, Kandi Technologies(KNDI) - Get Report, Murphy Oil(MUR) - Get Report and General Electric(GE) - Get Report.
No Huddle Offense
In his "No Huddle Offense" segment, Cramer reminded viewers to stop jumping the gun when it comes to earnings releases. Case in point, Chipotle Mexican Grill(CMG) - Get Report, a stock that Cramer warned viewers about earlier this week as shares had run up ahead of its earnings yesterday.
Just as Cramer predicted, Chipotle's results were immediately reported as a miss, sending shares down $50 within minutes of its release. But then midway through the company's conference call, after management indicated that July sales were very strong and the pork shortage that has been saddling growth would be ending at many locations. This, plus other positive news, caused shares to swing back into the black, ultimate ending up over $52 a share by the close today.
That's a $100 swing from bottom to top, Cramer concluded, a move that was easily predicted and could have been had by all.
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At the time of publication, Cramer's Action Alerts PLUS held positions in AAPL, GOOGL.