Cramer's Morning Take: Cisco Systems 5/15/25

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Jim Cramer (1:04)

Hey, it's Cramer, and this is my morning take on the market from today's CNBC Investing Club morning meeting. Today feels to me like a little dicey day, and I'll tell you why. We got these retail sales and PPI, they look cooler, and I saw the bonds immediately, interest rates go down, and then there were questions about it, and we're still at that 4.5 level of the tenure that makes people very nervous.

SPEAKER_2 (1:28)

Sure, I mean, when you look at what the S&P has done over the last few days, last few weeks, it's had a big run, so with the oscillator remaining overbought, you'd have to think there'd be some fatigue, or at least some digestion starting to kick in, a little bit of a small gain in the index yesterday, today. A little bit lower, you do mention bonds, though, four or five, it is up there. But we did have a lot of earnings come out, some big names, big companies. I'd call them all generally good, right?

Jim Cramer (1:59)

Yes, and Cisco, I interviewed Chuck Robinson. Cisco had its best quarter of years, and they also have a lot of business coming, both in the Gulf, they'll have even more business coming. One of the reasons why I think the stock is so strong, taking some share I see from Anet, which matters tremendously, working very closely with NVIDIA. Those orders aren't even in yet. They're Splunk Acquisition, cybersecurity doing incredibly well. Chuck, doing just a terrific job.

SPEAKER_2 (2:25)

Yeah, always a great bellwether for enterprise spending. You mentioned product orders up 9% year over year, X Splunk, AI infrastructure orders, they hit their target of a billion this year, a quarter early, which is just a great sign, kind of dovetails with what we've had to say with AI accelerating, robust demand.

Jim Cramer (2:45)

Not economically sensitive, demand sensitive, because people are afraid to fall behind, including the Saudis. He's gonna get some huge orders from the gold.

SPEAKER_2 (2:55)

Interesting. And then you have Walmart. The results were, yeah, there was a slight revenue miss, but earnings beat by three cents. First profitable quarter for the e-com business in the US and globally. 2Q, net sales up 3.5 to 4.5. Didn't give guidance, though, for EPS or operating income due to tariffs, and they do say some tariff-related price hikes could start later this month.

Jim Cramer (3:16)

Well, look, I think that people have to understand there are going to be hikes. The question isn't hikes. The question is who can eat them, who can afford it, and then most importantly, who is the scale to say to the suppliers, we're not, look, you may want to sell that, you can sell that to Coles, but we're not paying that price. We got the balance sheet, we're going to go elsewhere, we can shift, or we can go private label on you. So, remember, he who has the biggest balance sheet in retail wins, and they in Costco have the biggest balance sheets. Sure. Start your day with my outlook 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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