In this article, we will look at Jim Cramer’s 5 Stock Calls and the Truth About Strong Consumer Spending Despite the Iran Conflict. Please visit Jim Cramer’s 10 Stock Calls and the Truth About Strong Consumer Spending Despite the Iran Conflict, if you’d like to see the extended list and methodology behind it.
5. Ross Stores, Inc. (NASDAQ:ROST)
Ross Stores, Inc. (NASDAQ:ROST) made our Mad Money recap, as Jim Cramer shared his take on the stock and highlighted resilient consumer spending despite the Iran conflict. Cramer showed quite a positive sentiment toward the company’s earnings, as he said:
I’ve been blown away by Ross Stores. That last quarter showed more strength than I’ve seen from that company in ages.
Ross Stores, Inc. (NASDAQ:ROST) runs off-price retail chains that provide apparel, accessories, footwear, and home goods. The company targets middle- to moderate-income customers with its brands, including Ross Dress for Less and dd’s DISCOUNTS. Brown Advisory stated the following regarding Ross Stores, Inc. (NASDAQ:ROST) in its fourth quarter 2025 investor letter:
Ross Stores, Inc. (NASDAQ:ROST): Operates off-price apparel and home fashion stores. Ross Stores (ROST) reported a strong third quarter, led by 7% comparable sales growth. An emphasis on better brands at compelling value continues to resonate with increasingly value-conscious consumers, while more effective digital marketing helped drive improved engagement with Gen Z shoppers.
4. The TJX Companies, Inc. (NYSE:TJX)
The TJX Companies, Inc. (NYSE:TJX) made our Mad Money recap, as Jim Cramer shared his take on the stock and highlighted resilient consumer spending despite the Iran conflict. Cramer mentioned the stock during the episode and remarked:
The discounters are cleaning up here. TJX has put up some extraordinary numbers at all their brands, from T.J. Maxx to Marshalls, HomeGoods. These guys are making a killing by scooping up excess inventory from troubled retailers that desperately need cash.
The TJX Companies, Inc. (NYSE:TJX) sells off-price apparel, footwear, accessories, and home goods. The company offers a wide range of merchandise, including clothing, beauty items, furniture, decor, kitchenware, and seasonal products. During the February 25 episode, Cramer said that he likes the company, as he said:
… I don’t believe in the white-collar job apocalypse. Maybe AI can eventually replace most of the positions, and that’s very bearish, but it’s going to take many, many years for that to happen, and many new jobs will be created in the process. So, tons of stocks just sold off on Monday, retailers, credit cards, banks, travel. They should all come back. And which ones in particular? You know, I like names, I like to mention companies. I like TJX, which had a terrific quarter. HomeGoods was amazing, Marshalls, T.J. Maxx, but its stock got hit anyway because it had been straight up. Management’s always cautious in the conference call.
3. Jacobs Solutions Inc. (NYSE:J)
Jacobs Solutions Inc. (NYSE:J) made our Mad Money recap as Jim Cramer shared his take on the stock and highlighted resilient consumer spending despite the Iran conflict. Cramer noted that the stock’s decline does not make sense to him, as he commented:
People keep saying the market’s overvalued. I know a lot of high-quality stocks have come down from their highs in the last month and a half. Take one that we’ve liked for a long time, Jacobs Solutions. It’s the engineering construction firm that’s got some tremendous data center exposure. They reported an excellent quarter in early February. I mean, beat and raise, beat and raise, beat and raise, but the stock’s down about 2% year to date. Makes no sense to me.
Jacobs Solutions Inc. (NYSE:J) provides consulting, design, engineering, and infrastructure delivery services for several industries. A caller asked about the stock during the November 24 episode, and Cramer responded:
Okay, let me just say right now, Jacobs Solutions, I think, was incorrectly valued last week when an analyst came out and said that they did not do the number and did not do the forecast. That was not true. Bob Pragada did the number, and he gave a good forecast. And that’s why I think that Goldman Sachs recommended it today. I can’t speak highly enough about both Jacobs and the price that it’s at. I would buy this thing at $132.
2. Ulta Beauty, Inc. (NASDAQ:ULTA)
Ulta Beauty, Inc. (NASDAQ:ULTA) made our Mad Money recap, as Jim Cramer shared his take on the stock and highlighted resilient consumer spending despite the Iran conflict. Cramer highlighted the company’s earnings and the following market reaction, as he said:
On a day when beauty conglomerate Estee Lauder confirmed it’s in discussions to combine with Spanish cosmetics company, Puig, an announcement that caused Estee Lauder’s stock to fall 7.7%, we thought it might be a good time to check in with Ulta Beauty. That’s long our favorite cosmetics retailer. About a week and a half ago, Ulta Beauty reported a mixed quarter with strong same-store sales, but also higher-than-expected costs that translated into a legitimate earnings miss. The next day, the stock tumbled 14%, and it’s now down almost 28% from its February all-time highs, a perch it is rarely that far from… We think it is a very good price… Consider today’s trip to Ulta Beauty. Kecia Steelman, a 35-year veteran of retail, told us a tale of non-promotion, of a consumer that’s spending upfront where the more expensive goods are and also on the sides and in the back where you can find bargains. I was surprised that high price point merchandise up front was moving well, good gross margins.
Ulta Beauty, Inc. (NASDAQ:ULTA) provides cosmetics, skincare, haircare, and fragrance products. In addition, the company offers in-store beauty services, including hair, makeup, brow, and skin treatments.
1. Swarmer, Inc (NASDAQ:SWMR)
Swarmer, Inc. (NASDAQ:SWMR) made our Mad Money recap, as Jim Cramer shared his take on the stock and highlighted resilient consumer spending despite the Iran conflict. Cramer said that he cannot endorse the stock, as he stated:
I cannot in good conscience endorse Swarmer up here… Now, normally, I’d tell you something like this is more of a business plan than an actual business, but clearly, something about Swarmer resonated with the market. So I dug deeper, and the truth is this company’s got a great story even if it’s still in its infancy… Even down here with the stock down nearly 60% from its highs… last Wednesday, I can’t tell you to buy Swarmer in anything more than an extremely speculative position because the numbers just aren’t there yet. Again, Swarmer has barely had any revenue to date, and it’s losing millions of dollars a year.
Now, in its IPO prospectus… the company does cite signed contracts for new and existing customers amounting to roughly $33 million over the next 12 to 24 months, with about 60% of the revenue expected to be recognized this year. But even if we run the numbers on that and make a wildly optimistic assumption that Swarmer has almost 20 million in revenues this year, then the company’s still valued at more than 16 times sales, not earnings, sales, which is very, very expensive. Plus, it’s worth noting that there are a ton of shares set aside for employee stock plans and other things that are not being included in the company’s official share count, but could result in significant dilution for shareholders, and that’s in the not-too-distant future.
And of course, given how well the stock’s done to start, the company would be crazy not to issue more shares itself as soon as it’ll be able to. Finally, I just don’t love how Swarmer seemed to come out of nowhere. There’s no real institutional support for this one, given that it used just one boutique capital markets firm as its underwriter. I don’t know, doesn’t seem right. If the stock stays elevated, it might pick up some coverage from larger firms, but we can’t assume that.
So here’s the bottom line: Swarmer hit the market with a bang last week. But after looking closely at the company, I think this one needs more time in the oven, maybe much more. It’s still very, very early, even if it’s got a terrific elevator pitch. My verdict? Why don’t we do this? Let’s keep an eye on Swarmer for now and see if those signed contracts result in some more meaningful revenue this year. And let’s see how the stock trades when there’s not the pinch of a very low float like right now, because I expect there to be lots of dilution coming in the next year or two. For now, though, Swarmer, let’s call it a cool story, but not much more than that.
Swarmer, Inc (NASDAQ:SWMR) is a defense technology firm that develops vendor-agnostic software for autonomous swarm coordination and multi-domain unmanned systems.
While we acknowledge the potential of SWMR to grow, our conviction lies in the belief that some 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 SWMR and that has 100x upside potential, check out our report about the cheapest AI stock.
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