Cramer’s Morning Take: Cisco 12/18/25

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Jim Cramer (0:10)

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Jim Cramer (0:47)

Hey, it's Cramer, and this is my morning take on the market from today's CNBC Investing Club morning meeting. Now, we have to do with AI and Micron.

People say what's good for Micron could be good for the complex. Not true. Micron is pretty much of a tax elicits. In other words, Micron makes chips. They correctly gauge that there was going to be a lot of demand, but incorrect in terms of what they thought that they... They're an input cost, right?

Carl Quintanilla (1:13)

Memory is an input cost for a lot of these things that...

Jim Cramer (1:17)

Right. So they managed to be able to make a lot and charge a lot. And the companies that pay are Apple and Dell. You will have to put enterprises.

Carl Quintanilla (1:26)

Yeah, I think that explains what's happening in Apple today, what's happening in Dell today. Now, they did say demand still exceeds supply. They're completely sold out. A lot of them met demand. That is helping, I think, NVIDIA today.

Jim Cramer (1:39)

But not Broadcom.

Carl Quintanilla (1:40)

Not Broadcom. Memory prices came up on the last earnings call, and they did say it's a little bit of a headwind, so not seeing the rebound yet.

Jim Cramer (1:46)

This is a taker. This is a buyer. Whoever's a buyer is getting knocked down. NVIDIA is not a buyer.

Carl Quintanilla (1:52)

I think you have to watch Cisco, too, although they've been managing it. It came up on their last call.

Jim Cramer (1:56)

Yes, Cisco. I'd like to see Cisco pricing. Cisco, it used to be that you sold it when you sold DRAM pricing, but Chuck Robbins seems to have neutralized that input cost.

Carl Quintanilla (2:05)

Yeah.

Jim Cramer (2:06)

Cisco remains a very, very strong stock here.

Carl Quintanilla (2:09)

Now, at the same time, OpenAI, maybe a new valuation round, the information reporting, they held talks with investors about raising new funding at a valuation of $750 billion, could raise tens of billions, maybe $100 billion.

Jim Cramer (2:20)

If they get $750 billion and we slow down the day to build out, then everybody wins. That's a real dream.

Carl Quintanilla (2:26)

So yeah, I mean, I'm feeling this is positive. I know all the headlines are negative around it, but if they can pay the bills, then around the round we go.

Jim Cramer (2:33)

But we don't want a situation where I'm paying you to take my chips.

Carl Quintanilla (2:37)

Sure.

Jim Cramer (2:38)

That's the problem because when in the course of human events, do I pay you to give you something?

Carl Quintanilla (2:44)

Yeah.

Jim Cramer (2:44)

Government doesn't like that. Even this government doesn't like that. Something to watch. Start your day with my out book on the market every morning. Visit cnbc.com/morningtake to become a CNBC Investing Club member at a special rate today.

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All opinions expressed by Jim Cramer on this podcast and in connection with the CNBC Investing Club are solely Cramer's opinions and do not reflect the opinions of CNBC, NBC Universal or their parent company or affiliates and may have been previously disseminated by Cramer on television, radio, internet or another medium. No specific outcome or profit is guaranteed in connection with your reliance upon or other use of the content from Cramer. The opinions offered in connection with this podcast and the CNBC Investing Club are not an attempt to induce any particular trading behavior, investment or strategy. You should be aware of the risk of loss and following any strategy or investment discussed in the content from Cramer. To view the full CNBC Investing Club Disclaimer, please visit cnbc.com/investingclubdisclaimer.

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