Jim Cramer, the host of Mad Money, on Wednesday said that several stocks traded during the session as though the war could end sooner than many had expected.
So what happens if the war winds down, we get a defanged Iran? Maybe we should be thinking about that because I’ll tell you what happens. We’re going to go back to where before we started, which is why I was so adamant that you avoid the panic earlier this week and not blow out of stocks on that first day. If you remember, that was the entire top because I didn’t want you to go. What’s amazing is that, like almost every snapback rally after a real hammering, buyers return to the tried and true. First, they go for the highest risk stocks, not the lowest, but the highest, that’s a little magical investing there, as well as Bitcoin, which we know now trades with the bullish animal spirits that could be unleashed by some good news out of the Middle East.
READ ALSO: Jim Cramer’s Takes on These 17 S&P 500 Stocks and Jim Cramer Looked at These 11 Stocks Recently.
Cramer also noted that NVIDIA stock began climbing again, gaining nearly $3 during the session. He emphasized that the rally had no clear connection to specific news. He mentioned that the jump had more to do with market mood than with fresh information, with upbeat sentiment arriving first and explanations coming later.
Look, here’s the bottom line: We don’t know if the Iranians are out of drones or out of leaders, although the oil stocks indicate that the war’s headed in the right direction. We do know that we may have found the limits of software company destruction via Anthropic and may have seen a resumption in the buying of high-quality stocks after a war that some still expect to be long and drawn out. But I’m starting to think maybe that’s not the case.
Our Methodology
For this article, we compiled a list of 11 stocks that were discussed by Jim Cramer during the episode of Mad Money aired on March 4. We listed the stocks in the order that Cramer mentioned them.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 427.7% since May 2014, beating its benchmark by 264 percentage points (see more details here).
Jim Cramer Discussed 11 Stocks: Amazon, Affirm, and More
11. Public Service Enterprise Group Incorporated (NYSE:PEG)
Public Service Enterprise Group Incorporated (NYSE:PEG) is one of the stocks Jim Cramer discussed. A caller asked if the stock is a buy and noted that it is down from its 52-week high. Here’s what Cramer had to say in response:
No, actually, I was talking to my friend and writing pal, Matt Horween. I’m not as big an enthusiast of the bond market right here, and that’s going to be what determines Public Service Enterprise. I don’t want you to buy any.
Public Service Enterprise Group Incorporated (NYSE:PEG) is a utility provider focusing on the distribution of electricity and natural gas. The company also manages nuclear power generation facilities and invests in solar energy projects. On February 26, it reported Q4 2025 results, posting non-GAAP EPS of $0.72, which exceeded forecasts by $0.01. Its revenue of $2.92 billion was up over 18% year-over-year and beat estimates by $50 million.
For the full-year 2026, Public Service Enterprise Group Incorporated (NYSE:PEG) guided its EPS toward the range of $4.28 to $4.40 per share, compared to $4.22 in FY 2025. In addition, the company announced a capital spending plan for 2026 through 2030, ranging from $24 billion to $28 billion, and expects a Rate Base compound annual growth rate of 6% to 7.5% from its $36 billion balance at the end of 2025. It also updated its long-term outlook for non-GAAP operating earnings growth to 6% to 8% through 2030.
10. Paychex, Inc. (NASDAQ:PAYX)
Paychex, Inc. (NASDAQ:PAYX) is one of the stocks Jim Cramer discussed. Answering a caller’s query about the stock during the lightning round, Cramer stated:
The long knives are out for Paychex. I think that Paychex is doing well. I want to buy it at 17 with a 4.5% yield. I’m not sticking my neck out because I’m not worried. I think that that’s a good company, and it shouldn’t be this low.
Paychex, Inc. (NASDAQ:PAYX) provides human capital management solutions, including payroll processing, payroll tax and compliance, HR administration, benefits, and workforce management for small to mid-sized businesses. Fenimore Asset Management stated the following regarding Paychex, Inc. (NASDAQ:PAYX) in its fourth quarter 2025 investor letter:
Paychex, Inc. (NASDAQ:PAYX) performed the worst. Despite PAYX reporting strong earnings that exceeded expectations, the stock sold off 10% on economic concerns which mutes the near-term outlook. Employment numbers for small and midsized businesses remain weak which pressured the stock.
9. Affirm Holdings, Inc. (NASDAQ:AFRM)
Affirm Holdings, Inc. (NASDAQ:AFRM) is one of the stocks Jim Cramer discussed. When a caller expressed concern about seeing the insider buying in the stock, Cramer remarked:
Oh no, I like Affirm. I like Affirm. I like Max Levchin. I like Affirm. The stock is down way too much. I think it’s at a really attractive level. I couldn’t believe that… might be able to buy it under 50. I would say pull the trigger, Affirm.
Affirm Holdings, Inc. (NASDAQ:AFRM) provides a digital payment platform that enables consumers to pay for purchases over time through its point-of-sale solutions and app. During his game plan presented during the January 30 episode, Cramer suggested buying the stock. He commented:
And then there’s Affirm, which I think will put up a fantastic quarter, and once again, the bears will be put on the run by CEO Max Levchin. I think this buy-now, pay-later kingpin should be bought, yes, bought ahead of the quarter.
8. Accenture plc (NYSE:ACN)
Accenture plc (NYSE:ACN) is one of the stocks Jim Cramer discussed. During the lightning round, a caller asked why the stock has not gained any traction. In response, Cramer said:
I don’t know… I opened the file on them again yesterday after I saw that they bought this really interesting business from Ziff Davis, and I said, jeez, … that stock’s so low. And then I realized, you know what? It shouldn’t be that low. I think you’re on to something.
Accenture plc (NYSE:ACN) provides consulting, technology, and operations services, including systems integration, software engineering, and AI automation. Sequoia Strategy stated the following regarding Accenture plc (NYSE:ACN) in its fourth quarter 2025 investor letter:
Notable new positions added this past year included MSA Safety, Inc., Accenture plc (NYSE:ACN), and Align Technology, Inc. We introduce each of these investments below.
Accenture Plc (“Accenture”), another notable new position, is the market leader in information technology (“IT”) services, providing strategic advice, systems implementation, IT outsourcing, and business process outsourcing to Global 2000 enterprises. Originally a spin-out of accounting firm Arthur Andersen, the firm has grown to nearly 800,000 employees and over $70 billion in revenues. Its market capitalization currently exceeds $180 billion.
Accenture is another company that we have followed and admired for years. More specifically, we have been impressed by the company’s strong and consistent execution against an attractive industry backdrop. Like the engineering services space, which we know well from our prior investment in Jacobs Solutions Inc., the IT services space has enjoyed consistent, GDP-like growth with minimal invested capital. While barriers to entry are low, barriers to success are high, particularly with large corporate customers for whom a vendor’s reputation and track record are paramount… (Click here to read the full text)
7. Rocket Companies, Inc. (NYSE:RKT)
Rocket Companies, Inc. (NYSE:RKT) is one of the stocks Jim Cramer discussed. A caller asked if Cramer can see the stock redoubling once the housing market unfreezes, and he replied:
No, I cannot. No, I can’t. There’s just too many headwinds to housing. I’d love to be more bullish. We own Home Depot for my Charitable Trust. It’s one of my worst positions… I’ve gotta tell you, I don’t want you to be big in Rocket. I don’t think you’ll make a lot of money.
Rocket Companies, Inc. (NYSE:RKT) provides mortgage, real estate, and personal finance services. The company delivers its services through Rocket Mortgage, Rocket Homes, Rocket Loans, and Rocket Money. During the episode aired on November 20, 2025, a caller asked about the stock, and Cramer responded:
I got enough problems, I don’t need no Rocket Companies. Like, I can’t get… No one’s buying homes here.
We discussed Wells Fargo’s price target revision on the company’s stock. You can read about it here.
6. Target Corporation (NYSE:TGT)
Target Corporation (NYSE:TGT) is one of the stocks Jim Cramer discussed. Cramer noted that he is a “believer” in the new management, as he stated:
Yesterday, we got a much better than expected quarter from Target, which had been struggling for years, but it’s now under new management… Overnight, every analyst that covers the company seemed to be raising their price targets, and two different firms upgraded the stock… So, have I become a believer in Target under new management? Honestly, yes, I am a believer. I couldn’t leave her if I tried, at least for now. The new management team will have to deliver on the promises that it made yesterday, and I’ll need to see some same-store sales turn positive, along with continued margin improvement and legitimate earnings growth, before fully buying in.
But it’s tough not to be encouraged by what we heard yesterday. Target was already improving before the management handover, and now the new regime has a bunch of plans to keep that going. The most important thing in my opinion is that the new management team seems to have a very good grasp of what the company’s been doing wrong, and they’re not afraid to admit those mistakes… This is a fresh start here.
The first step, as they say, is acceptance, and Target’s now well beyond that first step, moving on to the point where they’re rectifying the most pressing problems. Again, the proof will be in the pudding. These guys still need to deliver. Better numbers will have to follow this period of better vibes and big plans. But with Target currently selling for still just 15 times its midpoint of its new earnings forecast, while Walmart trades at nearly 44 times and Costco trades at almost 50 times, well, the bottom line is, Target stock, it could still here be considered a steal. It’s just way too cheap if the company can maintain a sustained recovery under new CEO, Michael Fiddelke. And you know what? I think he’s worth betting on.
Target Corporation (NYSE:TGT) is a retailer that sells clothing, beauty items, groceries, electronics, home goods, and everyday essentials.
5. The Home Depot, Inc. (NYSE:HD)
The Home Depot, Inc. (NYSE:HD) is one of the stocks Jim Cramer discussed. During the episode, a caller asked what Cramer thinks of the stock, and he said:
Home Depot, big position for my Charitable Trust. It’s been problematic but we have it on because rates are going to get cut, and you have to own the stock when rates get cut.
The Home Depot, Inc. (NYSE:HD) is a home improvement retailer that sells tools, building materials, and decor. It also provides installation and equipment rental services. Cramer discussed the stock during the January 8 episode, as he remarked:
Finally, the homebuilders. Hardly a day goes by without an analyst downgrading these stocks. cutting the price targets, but today turned out to be a cut too far, and the home builders actually bounced. Do I want to own them? I don’t know. But I do want to own the stock of Home Depot, a leading indicator, rallied 3% today. Lots of people have given up on the stock because it’s so tied to housing turnover, something that would get a real boost though, if the president can force institutional investors that own single-family homes to dump them en masse. We own Home Depot for the Charitable Trust proudly, our only housing exposure, and I am beginning to feel pretty darn good about this situation, which has been tough.
4. Forgent Power Solutions, Inc. (NYSE:FPS)
Forgent Power Solutions, Inc. (NYSE:FPS) is one of the stocks Jim Cramer discussed. Cramer noted that he likes the company, as he commented:
The truth is, I’ve been watching this Forgent like a hawk. It’s the biggest IPO of the year so far… There’s a reason this stock’s been doing so well since it came public. It’s a terrific play on the hottest theme in the market, the great AI data center buildout. Now, the story’s a good one, and the numbers are pretty darn good, too… Forgent has a leverage ratio of 1.4, which is really nothing to worry about. Now, the one private equity worry that does apply here is the fact that Neos, the sponsor, has a concentrated ownership stake in Forgent and will continue to control the company. Specifically, they still own roughly 79% of the business, and someday, they’re going to want to ring the register. When Neos starts selling down its stake… I think it’s going to put some real pressure on the stock. It really will…
Luckily, we’ve got a good comparison here, which is the aforementioned Vertiv, another electrical equipment maker with big data center exposure. If we adjust Forgent’s calendar using the next four quarters of estimates, we find that Forgent has an enterprise multiple of 27. That’s pretty darn high compared to most industrial companies, but not compared to Vertiv, which has an enterprise multiple of 29.5 based on its 2026 estimates… I think Vertiv really does deserve a premium multiple. So yeah, it’s expensive but it’s still cheaper than the closest competitor. I like that.
Here’s the bottom line: I like Forgent Power Solutions. In fact, I borderline love it. Stock’s had a great start. While it seems pricey, I think the valuation’s justifiable when you look at Vertiv. In my view, Forgent’s worth buying right here, right now. The company reports in two weeks. If you want to wait, maybe you want to wait and see what happens there. But maybe there’ll be some reason for Forgent to pull back, giving you a better buying opportunity. Then again, maybe they’ll tell such a good story that you’d want to buy more… I like the look of this one. Put half of it on now and half of it on after it reports.
Forgent Power Solutions, Inc. (NYSE:FPS) designs and manufactures electrical distribution equipment, such as switchgear, transformers, and power units. In addition, the company provides maintenance, repair, and commissioning services to companies in the technology, utility, and industrial sectors.
3. Zscaler, Inc. (NASDAQ:ZS)
Zscaler, Inc. (NASDAQ:ZS) is one of the stocks Jim Cramer discussed. A caller asked if they should exit their position in the stock, as they already hold CrowdStrike, Rubrik, and Cloudflare. Cramer replied:
You got a tough one, because first of all, I like everything you have. But second, I would say Zscaler, I would not sell it here, but I would want to sell it if you’ve got all those other stocks. Get that bounce going. We’re starting to see some of these stocks really bounce, but do lighten up because you’re a little too in, you have too many of these kinds of stocks, and there’s too many days of pain. I don’t want you to have that much pain because you’ll end up leaving the game.
Zscaler, Inc. (NASDAQ:ZS) provides cloud-based security that protects users, applications, and data through its zero-trust platform and threat-defense tools. We recently discussed the company’s record revenues, which you can read about here.
2. Amazon.com, Inc. (NASDAQ:AMZN)
Amazon.com, Inc. (NASDAQ:AMZN) is one of the stocks Jim Cramer discussed. Cramer discussed the stock’s decline post-earnings and its recent rally, as he said:
Then we saw strength in two other tech stocks that… many people had given up on. I was not tiring of them, but I was, they got me down: Amazon and NVIDIA. Ever since Amazon reported last quarter, and its stock fell from 242 down to 198 over a two-week period, the stock couldn’t find its footing. But not today. Amazon finally managed to actually break out of its negative range and burst higher, rallying $8 or almost 4%. Maybe there’s a recognition that Amazon Web Services is not going to be wiped out by Anthropic.
Amazon.com, Inc. (NASDAQ:AMZN) sells consumer goods and digital content through online and physical stores, provides advertising and subscription services, operates Amazon Web Services for cloud computing, develops electronic devices, produces media content, and offers programs supporting third-party sellers and content creators. During the February 6 episode, Cramer discussed the company’s CapEx forecasts, as he stated:
This week, two members of the Mag Seven reported, Alphabet on Wednesday night, and Amazon last night. And with both of these, Wall Street focused on their massive CapEx forecast. That’s what they said… Amazon said, hold my beer and projected $200 billion in CapEx this year when Wall Street was only looking for $146.6 billion… As for Amazon, I believe in management’s ability to deliver, but you need a certain level of faith if you’re planning to own this one. That $200 billion CapEx number was shocking as the company… invested in everything from AI infrastructure to its retail operations to the low Earth orbit satellites that it can use to compete against Starlink. It totally overshadowed positives from the quarter, including strong growth from Amazon Web Services.
But away from that $200 billion CapEx burden, the stock also sold off because their operating income guidance for the current quarter came in substantially worse than expected. I think their investments will pay off eventually, but in the meantime, it’s obviously going to hurt. So again, do you trust Amazon to come out of the other side of this investment cycle in a better position with more earnings power? I do, which is why we own it for the CNBC Investing Club, but not everyone agrees.
So, I wasn’t shocked to see the stock down more than 5% today. As a matter of fact, I thought it’d be down more than that. I’m not going to pound the table for the stock of Amazon here. It’s too hard. I am saying that I’m willing to hold on to it because I trust CEO Andy Jassy to execute here. But I know that’s a leap of faith that’s too hard for many of you to take. It’s a big change to go from a solid growth company to one that may have to take on a lot of debt to grow faster. Not what many of you signed one for. Hard stock to own.
1. CrowdStrike Holdings, Inc. (NASDAQ:CRWD)
CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is one of the stocks Jim Cramer discussed. During the episode, Cramer called it his “favorite” cybersecurity company and said:
First, I want to talk CrowdStrike, my favorite cybersecurity company… CrowdStrike’s the best of the best, but its stock has been crushed, down 13% for the year. Why? It’s been caught in the mass exodus of money from enterprise software because investors are worried that they’ll all be replaced by AI agents… A couple weeks ago, Anthropic seemed to be pumping out press release after press release after press release about how it’s going after every software vertical under the sun… Anthropic explained that it could protect AI agents from themselves… that they’d be secure. The result? CrowdStrike stock fell from 420 to 350.
People told me, get out of the way, Jim. This one’s going much lower. Sellers didn’t think to stop and maybe say, oh, could Anthropic really mimic CrowdStrike?… I know I was in disbelief that the stock could plummet like that. CrowdStrike doesn’t provide a dashboard or help sell something or… make onboarding better… It’s a mission-critical company. As George said in the conference call last night, “In cybersecurity, you simply cannot have a hallucination. You cannot prompt twice. It is first time, final. It is the difference between thwarting an adversary or experiencing a breach.” And that is not something Anthropic can do…
Last night, CrowdStrike reported an incredible quarter… George… explained again how CrowdStrike’s not traditional software, meaning it’s not so much fodder for… Anthropic’s cannons. He explained that CrowdStrike specializes in protecting institutions from cyber attacks, a business that has nothing to do with Anthropic’s moving into, and once again, it does seem almost humorous, and once again, it seemed to fall on deaf ears.
CrowdStrike Holdings, Inc. (NASDAQ:CRWD) provides cloud-based cybersecurity solutions. The company offers protection for endpoints, cloud systems, identities, and data.
While we acknowledge the potential of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CRWD and that has 100x upside potential, check out our report about this cheapest AI stock.
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