When you're looking for long-term investment themes, remember that the baby boomers no longer rule the Earth, Jim Cramer told his Mad Money viewers Tuesday. It's the millennial generation that matters, Cramer said, and that's not going to change anytime soon.

Back in the old days, there was such a thing a brand loyalty. Children simply bought what their parents bought. Whether it was your bank, your car or the credit card in your wallet, brands used to matter.

But with the advent of online shopping, price comparisons and the changing tastes of millennials, big brands are now seen as the enemy. All of the old norms have been throw out the window, as national brands are seen as interchangeable.

Who still has brand loyalty? Just look to FAANG, Cramer's acronym for Facebook (FB) , Amazon.com (AMZN) , Apple (AAPL) , Netflix (NFLX) and Alphabet (GOOGL) . These stocks have been out of favor this week as money rotates elsewhere, but over the long run, they're some of only a handful of companies that the millennials can't live without.

The millennials don't want brands, they want experiences, like cruises and vacations. They like natural and organic foods and they love their pets. These are the themes that need to be bought, Cramer concluded, especially on days like today. 

Executive Decision

For his "Executive Decision" segment, Cramer sat down with Gary Wojtaszek, president and CEO of CyrusOne (CONE) , the global data center REIT that fell 6% yesterday as the market rotated money into other sectors.

Wojtaszek said that there's nothing wrong with their business and data centers are not slowing down in any way. He said they're still in the early stages of what he sees as at least a decade-long trend. All of CyrusOne's industry sectors and geographies are performing well.

For as good as things are here in the U.S., they're even better in China, as that market is far less penetrated than the U.S. and is growing faster. China also gives CyrusOne the opportunity to cross-pollinate their client bases, which often need services in multiple geographies. The company currently operates 44 data centers around the globe.

Finally, when asked about security, Wojtaszek said that while reliability and keeping their centers functioning will always be the top priority, providing physical security at those centers is now a close second.

Off the Charts 

In the "Off The Charts" segment, Cramer checked in with colleague Carolyn Boroden over the charts of Facebook, Apple and Netflix, to see if the recent declines are warranted.

Boroden first looked at Netflix, noting the stock has typically seen declines around $26 a share, which is right where they are currently. If the stock holds the $177 a share level, $211 could be next.

Next, Boroden looked at Apple, noting typical pullbacks in the range of $14 to $15 a share. With many floors of support below the $170 level, it was likely that Apple too would rally again soon from current levels.

Finally, Boroden noted that Facebook rallied just as she predicted to the $184 level. Typical declines for Facebook are between $10 and $11, leading Boroden to be bullish here as well.

Cramer said he also believes much of these declines are over and all three stocks should be bought on the way down.

Executive Decision II

In his second "Executive Decision" segment, Cramer sat down with Dean Stoecker, chairman, president and CEO of the data analytics company, Alterex (AYX) .

Stoecker said that Alteryx is putting the thrill back into problem solving, putting data scientists back on the edge of their seats with tools that were built for our big data world. Spreadsheets are no longer good enough, he said, which is why Alteryx makes tools for novice users as well as data scientists.

When asked about competition from Tableau Data (DATA) , Stoecker noted that Alteryx actually partners with Tableau, because while some users prefer Tableau's dashboards, analysis needs to be output on many different screens and into many different platforms, like machine learning.

Despite being a mature company, Alteryx is still seeing growth of 52%.

Lightning Round

In the Lightning Round, Cramer was bullish on Cypress Semiconductor (CY) , Home Depot (HD) and Magellan Midstream Partners (MMP)

Cramer was bearish on Sunoco (SUN) , Trivago (TRVG) , Mattel (MAT) , Lumber Liquidators (LL) and Universal Display (OLED) .

Over on Real Money, Cramer asks, "What's so bad about things being good?" Get more on his insights with a free trial subscription to Real Money.

Cramer and the AAP team have the weekly roundup and the outlook. 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.

No Huddle Offense

In his "No Huddle Offense" segment, Cramer opined on why he didn't abandon the tech stocks during yesterday's sell off. In a word, valuation.

The tech stocks always get a bad rap for being "expensive," but are they really? Shares of Colgate-Palmolive (CL) trade at 24 times earnings and that company has a 7% growth rate. Clorox (CLX) also trades at 24 times earnings and has a 5% growth rate.

So how then is Apple expensive at just 14 times earnings, when earnings are expected to grow near 25%? Even at half that, 12%, shares would be a bargain by comparison. Facebook sells for 21 times earnings with a growth rate of 21%, another bargain.

That's why Cramer said he's sticking with the tech stocks, even if they are out of favor this week.

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At the time of publication, Action Alerts PLUS, which Cramer co-manages as a charitable trust, was long GOOGL, MMP, AAPL and FB.

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