Technology is the lifeblood of this stock market, Jim Cramer announced to his Mad Money viewers Thursday. It doesn't matter what your technology does, he said, as long as you're selling to the right types of customers.
The consumer is alive and well, which is why Roku (ROKU) - Get Report shares are up 385% for the year. Roku is the go-to streaming media device, Cramer explained, and thanks to the strength of Disney+, shares are up another 4.4% today.
On the flip side, however, is the enterprise, where Cisco Systems (CSCO) - Get Report told investors it's not only seeing softness, but also rising CEO uncertainty. Shares of Cisco fell 7.3% by the close.
In semiconductors, Advanced Micro Devices (AMD) - Get Report is up 108% for the year because its chips go into PCs and and game devices. Meanwhile, Texas Instruments (TXN) - Get Report is also seeing weakness from the enterprise and automakers. That's why investors have become leery of the cloud stocks, Cramer said, as companies like Workday (WDAY) - Get Report also sell into the enterprise.
Cramer and the AAP team are looking at everything from earnings and tariffs 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: Viacom
For his "Executive Decision" segment, Cramer spoke with Bob Bakish, president and CEO of Viacom (VIA.B) , which just reported its final quarter as an independent company before its planned merger with CBS (CBS) - Get Report . Shares of Viacom rose by 1.9%.
Bakish said Viacom was able to deliver on all of its promises for 2019 and they look forward to the CBS merger, which is expected to close in early December. Once complete, he said, the combined company will have one domestic advertising sales team, one delivery arm and one product licensing team across all of their properties, which will include CBS, Paramount, Comedy Central, MTV and many others.
When asked about their strategy, Bakish explained they will continue to distribute their content broadly as part of bundled cable TV, but also via partnerships with multiple streaming services, including their own. He was not worried about losing their partnership with the NFL, noting that CBS is an integral part of producing high-quality content for the NFL and is also a big part of the NFL's distribution plans.
Finally, when asked about their deal to license the South Park comedy series, Bakish called it "opportunistic" and a great deal for both fans and Viacom. Shares of Viacom trade for just five times earnings.
Executive Decision: BioMarin Pharmaceuticals
In his second "Executive Decision" segment, Cramer sat down with Jean-Jacques Biename, chairman and CEO of BioMarin Pharmaceuticals (BMRN) - Get Report , the orphan drugmaker that's seen its shares plunge from highs of $100 down to lows near $63 as biotechs have fallen out of favor on Wall Street.
BioMarin updated investors at their annual investor conference, and Biename said they expect continued annual growth of 15%, just as they have for the past few years. He said their drug pipeline continues to be strong.
BioMarin's seven products are on track to deliver $2 billion in revenues, Biename added, and they expect to file for FDA approval for their next drug before the end of 2019.
Cramer said shares of BioMarin are incredibly cheap and he would be a buyer at these depressed levels.
Know Your IPO
In his "Know Your IPO" segment, Cramer circled back to the Oct. 25 IPO of Progyny (PGNY) , a company helping couples manage their infertility treatments.
Cramer explained that one in eight couples have issues with fertility and treatments are very expensive. In a tight labor market, more companies and health plans are helping to cover the costs of these treatments, and Progyny helps patients manage their benefits for the best outcomes.
Progyny has spectacular growth, Cramer said, and their IPO didn't suffer the way many high-growth deals have this year. Given that shares have fallen recently on no negative news, Cramer said he'd be a buyer of Progyny, and once the company's lockup period expires, he'd buy even more.
One side Against the Other
You can't understand the trade war without first understanding U.S. politics, Cramer told viewers. The trade war is no longer just about the balance of trade between the U.S. and China, it's now about a whole lot more.
Cramer said the trade war is a battle between the populist ideology versus a technocratic one. On the democratic side, that's the battle between the populist Elizabeth Warren versus the technocratic Joe Biden. On the GOP side, both factions are in the White House, with our president switching sides seemingly on a daily basis.
While the populist side wants what is right for all Americans, the technocrats are happy with what's right for business, which would be minor changes to the status quo and a quick end to tariffs.
One thing President Trump has said is that he thinks the real enemies in this battle are his predecessors, who sold out American workers in return for China doing virtually nothing to open up their markets to the U.S. That's why Cramer said he's expecting more tariffs in the coming weeks.
On Real Money, Cramer says President Trump is using doves as carrots and the hawks as sticks when it comes to trade. Get more of his insights with a free trial subscription to Real Money.
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At the time of publication, Cramer's Action Alerts PLUS had a position in CSCO, AAPL.