Jim Cramer Expects Netflix to Reach Market Cap Over $100 Billion

Jim Cramer answers viewers' Twitter questions from the floor of the New York Stock Exchange. Cramer answers his first Twitter question on Netflix (NFLX). ‘I think that Netflix is going to ultimately have a $100 billion market cap,’ Cramer said. As of the opening bell on Thursday, August 6th, Netflix’s market cap was at $53 billion. Cramer attributes his target to the fact that Netflix ‘is the channel to the world,’ and says that the media streaming company should be worth more than Time Warner (TWX), CBS (CBS) and Viacom (VIAB) combined, leading him to a market cap above $100 billion. The next question was in regards to Pepsico (PEP). Although people may not have liked Pepsico’s latest earnings, Cramer says that ‘the quarter was in fact ‘excellent,’ given that the company ‘had the best organic growth of any food company.’ ‘I have always endorsed owning Pepsico as long as Indra Nooyi is running it,’ he said. On the topic of Fitbit (FIT) and its drop in after-hours trading despite a strong quarter, Cramer reminded investors that when the company went public on July 19th, it traded at $20 and subsequently ‘roared’ to a height of $47 by the end of July. Although Cramer said that if Fitbit went to $50 it would be at ‘GoPro (GPRO) like valuations,’ his interview with Fitbit’s CEO James Park, left him ‘very confident that they have a lot in the pipe.’ In regards to Fitbit stock, Cramer says, ‘below $45, pull the trigger.’ If you have a stock question, tweet it @jimcramer using #CramerQ.