In this article, we will look at Jim Cramer’s stock calls on Mad Money recently. The host of Mad Money said Monday that the stock market’s relatively calm response to the Iran conflict suggests investors are concentrating on forces that outweigh geopolitical developments.

When you saw the news this weekend that the Iranians voided the agreement to open the Strait of Hormuz, the very thing that sent us to new all-time highs last week, you had to believe we were just going to get clobbered today, right? After all, the market vaulted 4 and a half percent last week after two straight weeks of 3% gains. But the averages barely blinked today… The stock market’s responding to the bond market, not to the Strait of Hormuz. It’s not unusual. Bond market is much bigger than the stock market. It’s a forecast of a host of things, from inflation to what the Fed might do next.

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Cramer also said that concerns about rising fuel costs may be overstated. He said there is a growing realization that gasoline no longer carries the same weight in everyday life as it once did, which could explain why spikes in oil-related tensions are not rattling investors as much as in the past. He also noted that corporate earnings have come in strong, which provides further support for stocks. Lastly, he points to advances tied to the artificial intelligence revolution as another driver that is powering the market.

So here’s the bottom line: I’m not saying that the Iran war doesn’t matter. If something catastrophic happens in the next 48 hours, of course, it’s going to impact the markets. But otherwise, all these key stories are totally separate from the Gulf. And they’re what controls the day-to-day action, which is what you come to me to find out about. Until the war gets bad enough to impact the bond market, don’t expect it to matter to the stock market.

Our Methodology

For this article, we compiled a list of 17 stocks that were discussed by Jim Cramer during the episode of Mad Money aired on April 20. 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 498.7% since May 2014, beating its benchmark by 303 percentage points (see more details here).

Jim Cramer’s 17 Stock Calls: Applied Materials and CoreWeave

17. Johnson & Johnson (NYSE:JNJ)

Johnson & Johnson (NYSE:JNJ) was among Jim Cramer’s stock calls on Mad Money recently. Cramer highlighted buying the stock for the Charitable Trust, as he stated:

We bought the stock of Johnson & Johnson today for the Charitable Trust… Are we crazy? No, we’re not crazy. We’re buying what may be the best drug stock, or at least the second-best if you’re Eli Lilly. We’re buying it into free fall. You don’t get a chance to buy the best at a discount very often. When you do, you buy some, then you let it fall a little more, and you buy some more. And we’ll likely get that opportunity because pharma is so out of favor… Why J&J right now? We’ve had a lot of noise in healthcare. It’s obscured a major FDA approval for a new J&J drug, Icotyde, an autoimmune drug for the treatment of moderate to severe psoriasis, which is a gigantic market…

Doesn’t hurt that the company decided to spin off its orthopedics business as a standalone company. This is a slower-growing piece of the pie, so the breakup will help unlock value. In the past, JNJ might have gotten credit for these moves, but right now, buyers have deserted the stock. I like that, too. Always remember, though, that this is the kind of stock that gets cheaper as it goes lower, which is why we’ve left plenty of room to buy more JNJ on weakness for the Charitable Trust. More important, your portfolio always needs to have a decent mix between what’s hot and what’s not… Here’s something I was taught at Goldman Sachs: They don’t all go up at once. To which I always said, but something should go up in your portfolio. And that’s why you buy J&J, one of the greatest drug companies out there, one of the greatest American companies out there, when everyone else is selling it.

Johnson & Johnson (NYSE:JNJ) develops and sells healthcare products, including pharmaceuticals and medical technologies, with treatments in immunology, oncology, neuroscience, cardiovascular care, and infectious diseases.

16. Biogen Inc. (NASDAQ:BIIB)

Biogen Inc. (NASDAQ:BIIB) was among Jim Cramer’s stock calls on Mad Money recently. Toward the end of the lightning round, a caller asked what Cramer thinks of the stock, and he commented:

Well, I read the upgrade today by Wells Fargo, and it talked about a bunch of revenue streams. including Alzheimer’s, and it was very impressive. I actually said, you know what? I got to reopen the file on Biogen. It looks pretty… good. I also like Gilead, for that matter.

Biogen Inc. (NASDAQ:BIIB) develops therapies for serious neurological and autoimmune conditions, including multiple sclerosis, Alzheimer’s disease, and spinal muscular atrophy. Patient Capital Management stated the following regarding Biogen Inc. (NASDAQ:BIIB) in its fourth quarter 2025 investor letter:

This quarter we entered three new positions and exited one position. We increased our exposure to Biogen Inc. (NASDAQ:BIIB) in the quarter by buying long-dated call options expiring in 2028 with a strike price of $150. We continue to think Biogen is an attractive asset over the long term. The company has a number of late-stage pipeline assets that should reach the market over the next few years, at the same time that its Alzheimer’s franchise should continue to ramp as blood-based biomarkers and subcutaneous injections broaden the potential treatable universe. Longer term, we believe Biogen is positioning itself to own multiple stages of the Alzheimer’s disease lifecycle, similar to its historical approach in multiple sclerosis. With a cleaned-up cost structure, a more focused research effort, and a growing late-stage pipeline, we continue to view the risk/reward as attractive.

15. Flex Ltd. (NASDAQ:FLEX)

Flex Ltd. (NASDAQ:FLEX) was among Jim Cramer’s stock calls on Mad Money recently. Responding to a caller’s query about the stock, Cramer said:

Oh, that thing is just a rocket ship. Again, you know, this is the problem…. it is just a monster. And everyone keeps raising the price target, raising the price target, and I begin to think, you know, it’s doing it without me. It’s doing it without me. It’s doing so many things that are great. They just bought a really terrific power company. What can I say? I just can’t recommend it here. It’s too high. It’s just too high. I don’t want to hurt people. Let it come in.

Flex Ltd. (NASDAQ:FLEX) provides manufacturing and supply chain solutions for industries including automotive, healthcare, and data centers. TCW Relative Value Mid Cap Fund stated the following regarding Flex Ltd. (NASDAQ:FLEX) in its fourth quarter 2025 investor letter:

Flex Ltd. (NASDAQ:FLEX), based in Singapore (for tax purposes but domiciled in the U.S. with functional headquarters in Silicon Valley), is a leading provider of electronics manufacturing services (EMS) and outsourced design and engineering. The company operates in two segments: Flex Agility Solutions (Communication, Enterprise, Cloud, Lifestyle and Consumer Devices) and Flex Reliability Solutions (Automotive, Industrial and Health Solutions). FLEX is benefiting from the build out of AI data infrastructure. Flex maintains a leading-edge global network of manufacturing sites that offers customers the ability to relocate final assembly from high-tariff geographies in a timely and cost-efficient manner enabling customers to reduce or avoid tariffs. Despite the success of the FLEX data center business, end market uncertainty around its automotive and industrial end markets led us to eliminate the position.

14. Netskope, Inc. (NASDAQ:NTSK)

Netskope, Inc. (NASDAQ:NTSK) was among Jim Cramer’s stock calls on Mad Money recently. A caller sought Cramer’s opinion on the stock, and he replied:

Oh, yeah, okay, it’s an interesting cloud security platform. Frankly, it’s not my cup of tea, but it looks like it’s bottoming. How about that? It’s losing a lot of money. It’s not my stuff.

Netskope, Inc. (NASDAQ:NTSK) provides cloud-based cybersecurity and networking solutions through its Netskope One platform. The platform protects data, users, and applications using zero-trust security and provides analytics to improve visibility and performance. During the October 27, 2025, episode, a caller asked about the company’s stock, and Cramer responded:

Look, there’s two cybersecurity companies. There’s CrowdStrike and there’s Palo Alto, and then there’s just everybody else. And we’re going with CrowdStrike. We’re going with Palo Alto.

It is worth noting that since the above comment was aired, Netskope, Inc.’s (NASDAQ:NTSK) stock has declined by nearly 58%.

13. Infleqtion, Inc. (NYSE:INFQ)

Infleqtion, Inc. (NYSE:INFQ) was among Jim Cramer’s stock calls on Mad Money recently. When a caller mentioned the stock got a “big boost” at NVIDIA’s GTC conference, Cramer remarked:

I know, I know. Look, this is a parabolic move right at the end. I think you take a little profit and you can buy it back lower. I swear to God, I really do believe that you can buy it back lower.

Infleqtion, Inc. (NYSE:INFQ) builds quantum hardware, including computers, precision sensors, and specialized software for the defense and commercial sectors. The company’s solutions include cold atom systems, quantum clocks, and several electronic components used by research institutions and government agencies.

12. InterDigital, Inc. (NASDAQ:IDCC)

InterDigital, Inc. (NASDAQ:IDCC) was among Jim Cramer’s stock calls on Mad Money recently. Answering a caller’s question about the stock, Cramer said:

Well, I don’t know. I mean, it’s a telco play to be honest. I don’t regard it as much as an AI play, but yeah, it’ll work here. I like it. I like it a lot. It came down today. Yeah, I like it. It was, I haven’t heard about it in a long, long time.

InterDigital, Inc. (NASDAQ:IDCC) specializes in research and development for wireless, visual, and artificial intelligence technologies used in communications and entertainment products. The company licenses its patented innovations to manufacturers of smartphones, consumer electronics, and connected vehicles.

11. The AES Corporation (NYSE:AES)

The AES Corporation (NYSE:AES) was among Jim Cramer’s stock calls on Mad Money recently. Starting the lightning round, a caller asked for Cramer’s thoughts on the stock, and he replied:

Yeah, it’s incredibly cheap. I would be a buyer of it. I think that you could do very well there. It is ridiculously cheap, frankly.

The AES Corporation (NYSE:AES) produces and sells electricity through a large portfolio of energy assets. During the December 10, 2025, episode, a caller inquired about the stock in light of huge data center demand, and Cramer responded:

It’s always been disliked, and you know what? I’ve taken a liking to it down here. I think you’ve got a buying opportunity in AES.

10. Applied Materials, Inc. (NASDAQ:AMAT)

Applied Materials, Inc. (NASDAQ:AMAT) was among Jim Cramer’s stock calls on Mad Money recently. A caller asked if the stock is a “good buy,” and here’s what Cramer had to say:

No, it’s not a good buy, it’s a great buy. Applied Materials, Lam Research, KLA, of those, I’m going to order them, Lam, AMAT, and KLA. They’re all good because they are, this the only way we can get the, alleviate the shortages that we’re seeing in semiconductors. Those guys are it. And they have the intellectual property. They are the strong ones. Glad you came to me with Applied Materials.

Applied Materials, Inc. (NASDAQ:AMAT) provides equipment, software, and services that help manufacturers produce semiconductors and other electronic devices. Cramer mentioned the stock during the March 11 episode and said:

If we see the $120 oil, those are the four stocks you gotta reach for, or you can go with the semiconductor capital equipment makers, a little less risky. Lam Research and KLA… You can do AMAT too, Applied Materials. The memory shortage will ultimately drive lots of businesses their way. Again, though, none of these will be real winners until the war ends and the decline runs its course.

9. Salesforce, Inc. (NYSE:CRM)

Salesforce, Inc. (NYSE:CRM) was among Jim Cramer’s stock calls on Mad Money recently. A caller mentioned they are close to getting out their cost basis and asked whether they should trim their position. Cramer replied:

Okay, we have a small position for my Charitable Trust. There was an interesting article today in the Journal about how the good things that, two things that Marc Benioff sees. We’re holding it. We think that… eventually, it’s a long-term position because I think that what Marc’s talking about is stuff that will happen by 2030. If you can wait that long, there’s no need to do anything. But I think that the stock is putting in a bottom here because it’s incredibly cheap. I would not sell it at these prices.

Salesforce, Inc. (NYSE:CRM) provides CRM-focused tools that help businesses manage customer interactions, use AI agents, analyze data, collaborate, and run marketing, commerce, and field service operations. Cramer highlighted the company’s share buyback plan during the April 13 episode and commented:

Salesforce is fighting back, too, with a $50 billion buyback and half of that being done on an accelerated repurchase basis. This buyback should not be ignored; it represents one-third of the company’s stock at these levels. Stock finished up $7.86 today, or 4.7%, but it’s still down 34% for the year. Both ServiceNow and Salesforce have some businesses that should be disruptable and others that aren’t. If you have any division, though, that is disruptable right now, Wall Street is merciless to your stock.

8. CoreWeave, Inc. (NASDAQ:CRWV)

CoreWeave, Inc. (NASDAQ:CRWV) was among Jim Cramer’s stock calls on Mad Money recently. When a caller inquired about the stock during the episode, Cramer commented:

Okay, CoreWeave is an aggressive… CoreWeave is what I regard as being a very, it’s an aggressive buy. You’re doing something very aggressive. I happen to think the fundamentals are terrific, but remember, this is a new company with lots of debt, and it’s going to be prone to these kinds of up and down moves. So, it’s a roller coaster, and I just want you to know that I’m with you in thinking it’s terrific, but understand that you’re in for volatility when you own the stock of CoreWeave.

CoreWeave, Inc. (NASDAQ:CRWV) runs a cloud platform designed to power and scale GenAI workloads with high-performance compute, storage, networking, and managed services. Cramer highlighted his discussion with the company’s CEO during the April 10 episode, as he stated:

My late friend, Mark Haines, the legendary CNBC anchor, almost always said during the break… There are no free passes on this show… I used to be a hedge fund manager and a very active trader, so he pointed out that I would like a stock one week and dislike it the next. I’d talk about price and events and how a stock had gone up high or a catalyst had come on, so you had to move. But the free passes, Mark hated it when someone was interviewed, and there were no tough questions asked, because he always said the audience deserved better.

I bring this up because of our interview this morning on Squawk on the Street with Michael Intrator, the man behind CoreWeave, a company that manages data centers. He just won a huge order from Anthropic, which we know is the be-all and end-all of these days of AI. After congratulating him, I asked him when his company was going to start making money; they lose a ton. He gave me an answer that I thought wasn’t on point, talking about how there’s so much growth to be had, he couldn’t afford to focus on profitability. So later in the interview, I went right back at him on profitability. He said, CoreWeave could be profitable in three months, but the opportunity was too great, so he planned to keep investing in the business. Actually, I found that answer satisfactory. I think it contributed to the immense run the stock enjoyed today, up 11% as people maybe felt better about the balance sheet because I pushed Michael hard on profitability, and he said, hey, listen, we could be profitable, but we’re not.

7. ON Semiconductor Corporation (NASDAQ:ON)

ON Semiconductor Corporation (NASDAQ:ON) was among Jim Cramer’s stock calls on Mad Money recently. Cramer mentioned the company during the episode and said:

Finally, rounding out the top 10 performers in the S&P 500 since the bottom is ON Semiconductor, which ended up in fifth place, up 49%. Bit of a mystery to me. ON Semi, as it’s known, makes power and sensing chips but mostly for the automotive end market, which is supposed to be weak. The best I can tell is that the demand for CPUs has bled into… scenarios like this or that ON stock is doing well thanks to a combination of demand for power chips and lower interest rates, which investors think will boost new auto sales. Either way, I’ve long followed ON Semi, and I like their CEO, Hassane El-Khoury, so I won’t complain about the nice pop of the stock.

ON Semiconductor Corporation (NASDAQ:ON) provides intelligent sensing and power solutions, including integrated semiconductor devices for power conversion and signal conditioning.

6. Arista Networks Inc. (NYSE:ANET)

Arista Networks Inc. (NYSE:ANET) was among Jim Cramer’s stock calls on Mad Money recently. Cramer called it an “amazing company” during the episode, as he remarked:

Next, the only non-semiconductor and non-memory stocks in the top 10 were networking plays… Arista Networks, another major networking play, did make the top 10 with a 41% gain over the past three weeks. Amazing. It’s been an amazing company, amazing stock for many years, a personal favorite of mine… These rallies are all about the move from copper-based networking solutions to fiber optics which are faster and carry less heat. Again, I have some queasiness about the one-way nature of these moves, but this is another place where the shortages and the sold-out nature of these products are all that seem to matter to the buyers, and I don’t blame them because we’ve never seen anything like this. Never.

Arista Networks Inc. (NYSE:ANET) sells cloud-based networking solutions and related software for data center, AI, and enterprise operations. In addition, it provides network services, support, and hardware solutions.

Click to continue reading and see Jim Cramer’s 5 Stock Calls: Intel and Micron.

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