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Did you miss last night's "Mad Money" on CNBC? If so, here are Jim Cramer's top takeaways.

Broadcom (AVGO - Get Report)  : What's not to like about Broadcom, the chip maker with shares up over 30% so far this year? Cramer said the company's merger with Avago for $37 billion is one of the best deals he's ever seen, yet it remains under-appreciated by Wall Street.

After closing on the Avago deal, the new Broadcom is now the third largest semiconductor company in the world, and even after posting strong results that sent shares up 5%, Cramer said, the stock still has a lot more upside.

Broadcom has successfully diversified itself away from just smart-phone chips and now boasts wired and wireless communications chips, along with chips for the data center, hard drives and, yes, the red-hot Internet of things. The company just posted a 9% increase in revenue and doubled its dividend yield to 2.3%.

Cramer last recommended Broadcom in April at $157 a share, or 12.3 times earnings. He likes it even more now at $178 a share, because earnings estimates are up, keeping the price earning ratio below 13.

Shares of Avago, now Broadcom, are up over 1,000% since their August 2009 IPO and Cramer said he's still a believer in the company's management.

Find out why Cramer and Jack Mohr are taking a starter position in Apache (APA - Get Report) on the heels of the recent OPEC/non-OPEC agreement. Get a free subscription to Action Alerts PLUS.

Regional Banks Roar Despite Downgrades

It's no surprise that the banks have been leading the markets higher since the election. But what is a surprise is that the regional banks in particular have been doing so while getting pummeled with analyst downgrades.

Cramer's been a longtime fan of BB&T (BBT - Get Report) , a stock that received no less than five downgrades ahead of the election, and another two downgrades since. According to the analysts, the bank has run out of catalysts to propel it higher. Shares of BB&T are up over 10% since the election.

Likewise with Fifth Third Bank (FITB - Get Report) , a stellar regional bank with six downgrades ahead of the election and three since. Shares are up 20% since November.

The list goes on, Cramer said, with Key Corp (KEY - Get Report) , Regions Financial (RF - Get Report) and SunTrust Banks (STI - Get Report) all seeing multiple undeserved and short-sighted downgrades.

Despite the lack of support from Wall Street, all of these stocks have kept on soaring higher, Cramer concluded, and that's how you know the rally is for real.

Cramer and Jack Mohr are putting the energy rally in perspective for the members of their investment club. Read what they're saying with a free subscription to Action Alerts PLUS.

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At the time of publication, Cramer's Action Alerts PLUS had a position in APA.