Mad Money w/ Jim Cramer 7/20/26

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**Jim Cramer** (1:00)
My mission is simple, to make you money.

**Jim Cramer** (1:04)
I'm here to level the playing field for all investors.
There's always a bull market somewhere, and I promise to help you find it. Mad Money starts now.

**Jim Cramer** (1:16)
Hey, I'm Cramer. Welcome to Mad Money. Welcome to Cramerica.

**Jim Cramer** (1:22)
Oh, do you want to make friends? I'm just trying to make a little money. My job is not just entertaining, but to educate, so call me at 1-800-743-CBC. Tweet me at Jim Cramer. Come in to work, and you'll learn that the Chinese are targeting all the frontier AI models, the anthropics, the open eyes, and you wonder if they can get their IPOs off. Maybe not, because the Chinese also have cheap memory, which we think they do, or maybe they don't. But if we get some hands on it, it'd be great. But if American companies truly avail themselves of the Chinese tech, won't they be targeted by China's open source models? And what does that mean for the price of tokens, Jevons Paradox, and national security?
Did you understand any of that?
I don't. I can't figure out how this will ultimately impact Intel or NVIDIA, two of my charitable trust core holdings. Could it delay an open AI, IPO, impact or deal with Oracle, keep repelling AMD?
After a day where the Dow shed 307 points, SMB declined 0.19% and Nasdaq dipped 0.05%.
After what was, by the way, a very strong opening, all this hand-wringing over AI competition from China, makes you want to turn my back on tech, and just find high-quality companies like Goldman Sachs and Wells Fargo, who dig my teeth into FedEx and FedEx Freight, maybe scoop up some Honeywell Aerospace and Boeing. You know why? See, because if you own too much tech, you're going to be slaughtered, and you won't even know what hit you. Okay, not today. And we've been hit pretty hard here, as you will find out if you stick around. But I don't want to be some journal only piles on when things are down. We might have some momentum here, but if you own these kinds of non-tech stocks that I like and they do go down, you know what you can do? You can confidently buy more of them, because Goldman Sachs or FedEx are comprehensible and they're not subject to rumors or Chinese ripostes. In so many ways, that's what's wrong with this market. I mean, right now, for example, if SK Hynex, the high bandwidth memory maker from Korea or SpaceX, the Musk Satellite Company or Oracle with its flagging bonds and stock really break down, then believe me, they're going to take everything with them, including many tech stocks that do not deserve to be hammered. Now, I've told you how my travel trust has diversified away from tech with new money, with the exception of Intel, more on that in a second. For the club, I've been content to own industrials, not necessarily data center industrials, as well as healthcare, because we don't want to be the next SK Hynex, the stock of a tremendous semiconductor company that's been hijacked by desperate traders who really should be stick with betting on the World Cup.
The Bulls remember the early 2025 Deep Seek Affair, where stocks were crushed because of the introduction of a Chinese AI program, then bounced right back. Now the Bulls are arguing that this new AI threat, Kimi K3, brought to you by the Chinese company Moonshot AI, is similar to the Deep Seek Affair, where everything else was brought down, but if you bought tech, especially data center tech, you're gonna make fortunes, just like when Deep Seek turned out to be second rate. I'm not so sure that we should swoop in and buy this time, because the stocks that could be rocked are stocks that even after the decline are still incredibly high, like a Micron, like an SK Hynex. They're ridiculously cheap on an earnings basis, but they're high. We will examine some of the most hard-hit stocks later in the show. You can make up your mind. I'm thinking some will come down so much. There is some real opportunity here, and I'm not blind to it. That said, let me tell you what we're doing. First, we are not touching the trust long-standing Apple position. The sharp knives are indeed out for the Apple, but let's say management from the tech intelligentsia, the intelligentsia say that Apple missed the most important story of our lives, artificial intelligence. They lambaste Siri. They regard the lost opportunity as critical to Apple's failure for the next generation. Yet, you know what? These same people are posting from their iPhone 17 Pro Max.