Cramer's Morning Take: Micron & Home Depot 3/21/25

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Jim Cramer (0:46)

Jim Cramer here to share with you a sample of my take on the market from today's CNBC Investing Club morning meeting. Jeff, I have to tell you that in terms of the negativity that I saw this morning, if we were not oversold, I would say, well, let's just find out what's down the most. Go buy some Micron. I know FedEx is a little dangerous, and Nike was terrible. Lenoir had some problems, and you can say, listen, those are all bad. But I do think that we are starting to throw out good ones. And Micron was a good quarter, and Micron was the quarter that I've been looking for for a long time. So I'm reluctant to be able to say, I know I was looking for it, but now that I have it, I don't like it. Because that's what you do with when you're not a serious investor. I went to Home Depot yesterday. It was really a fabulous story. You can decide I want to sell it because of tariffs. They'll tell you, look, there's not that much, it's tariffs. So the negativity is really, I think it's getting to people, and people are just throwing stocks away.

That's opportunity, but I don't want to get too far ahead of the tariffs.

Jeff Marks (1:47)

Sure, the reciprocal tariffs coming April 2nd, certainly an overhang the market continues to grapple with. Yesterday, it looked like we were having a pretty good day, gave it up towards the end of the day. S&P now on pace for its fifth straight weekly decline. So obviously a lot of negativity out there. And then when you look at the companies that are down the most today, it is interesting.

It is all the ones that reported last night or gave some type of prelim outlook. And it just kind of shows you that where we are in the earning season, when you have had to deal with the weak February and January and maybe you are seeing some uncertainty in March and you have that tariff uncertainty looming, it is just leading to some downbeat forecasts and that negativity is spreading. But I thought your interview yesterday with Ted Decker, CEO of Home Depot, made me feel better. There is some optimism around there. It is not just mortgage rates, right? It is the aging housing inventory and the needs for repair and remodeling.

Jim Cramer (2:53)

Yeah, look, I mean the stock down six today. Stocks now down well, almost $100. That is very unusual for Home Depot. Home Depot is a large dollar amount stock, $348. People are fleeing the stock. I think there are people who don't recognize the history of Home Depot and how it is done when housing prices are high versus when they are low. Both work out, but the one they are high is pretty good. I don't blame anyone. Look, we have a position at Home Depot and we are not sitting there and saying, listen, we are going to scoop up more. I think what we are saying is as it comes down, it is getting more attractive because there is a lot of good there. But we are not in that kind of market. We are in a market where you will have some fed guy of no consequence come on who is eloquent and talked about how things are not so good and then you will sell Home Depot even though interest rates are only part of the factor about what makes sales go well. But it is our job to be able to say, okay, listen, we are not going to just react to negativity if you are negativity. We are going to try to figure out what makes it tick. And Ted Decker was certainly very optimistic. I don't want to be negative on that stock at all, chef. Not at all.

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