Dow futures are falling Friday after the "earnings gauntlet" that Jim Cramer said was one of the most important 72 hours of the year for the stock market. The tech giants didn't disappoint in their reports.
In the last episode of Mad Money, Cramer said we're seeing a classic rotation from tech into the safety of food stocks, and it won't be the last.
TheStreet's Katherine Ross and Cramer are talking about buying Ford stock, Qualcomm earnings and meme stocks like AMC Entertainment.
Ford: Buy Or Sell?
Ford F shares slipped in Thursday trading after the automaker said second-quarter production would be hit dramatically by the global semiconductor chip shortage. Ford reported higher-than-expected first-quarter earnings.
Cramer said buy Ford stock hand over fist because CEO Jim Farley indicated that the second quarter is the trough of the chip shortage. "I would buy Forst stock right here right now because Farley said they're going to solve the chip dilemma," said Cramer.
Cramer said he is a big believer that AMC Entertainment could be a great reopening story. "I like that meme stock," he added.
Qualcomm: Buy Or Sell?
Cramer said Qualcomm missed the quarter previously because people thought it was not going to do well in 5G and this quarter they got a pop, the numbers are coming right back up. "People who lost some last time they picked it up this time and then some. So own it right here," said Cramer.