Mad Money w/ Jim Cramer 8/20/26

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**Jim Cramer** (1:01)
In the shadow of Idaho's mountains, the future of technology is being built from the ground up. My problem was born here nearly a half a century ago. Today it's building the technology powering the next industrial revolution.

**Jim Cramer** (1:13)
Steel in the ground, ingenuity at work, billions of dollars and tens of thousands of jobs.

**Jim Cramer** (1:19)
The race for AI may be global, but its next frontier is taking shape on American soil. Right here in Boise, Idaho, a legacy of American manufacturing is shaping the future of innovation. Mad Money's Invest in America from Micron in Boise begins now.
My mission is simple, to make you money. 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** (1:57)
Hey, I'm Cramer.

**Jim Cramer** (1:59)
Welcome to a special edition of Mad Money, coming to you from Micron's headquarters in Boise, Idaho.
Welcome to Cramerica. By the way, my friends, I'm just trying to make you a little bit of money. My job is not just to entertain, but to educate, to teach you. So call me at 1-800-743-CBC. Tweet me at Jim Cramer. You take your eye off the market for one lousy day and come out here where they actually make things like a Boise, Idaho construction site for Micron's new semiconductor factory.
You realize there's an incredibly jarring gulf between stock prices and reality.
Of course, the market doesn't seem to rally just because it's a beautiful day out here, does it? I'm watching 8,000 workers crawling all over 10 million square feet of steel and concrete infrastructure. But instead, what I really have to do is settle for a rough and nasty day on Wall Street, 2,150 miles away from here, where the Dow tumbled 704 points, as it beat the Klein point, 8.7 percent, and the NASDAQ lost a full percent.
Oh, I wish we had a better session, though. Because there's no manufacturing process on the planet that's more complex than building semiconductors, and Micron builds them right here. This is a company that's always been committed to the United States, and we have come out here to see and praise that commitment.
This company's spending 250 billion, yeah, will it be, 250 billion dollars to here, New York, and Virginia to make the most advanced memory chips. Many for the gigantic data center build out right now and soon for robots, self-driving cars. They all need memory to work, and Micron's a heavy hitter in the memory space, the third largest after Samsung and SK Hynix. If you measure a company's success by its gross margin, the percentage of revenue they keep after the cost of goods sold, what you're looking at will be just two fabs within one of the most lucrative companies in the world. Unfortunately, though, you can't take your eye off the broader market. Even if you think, as I do, that Micron stock is radically undervalued, yeah, that's even after today's $37 rally. In the end, we always have to look at stocks through the market's prism, okay? Not ours, but the market's. And right now, the market's not gonna give Micron its due because the factor's beyond this company's control. What is clouding the market's prism? What is making everything so darn bare?
Let me spell it out.
I'm gonna start with the United States of Walmart, the largest retail chain in the world, where more than 200 million customers shop every single week. Walmart's a fantastic company. You know I think that. Tremendous prices. Lately, it's been able to attract people from all ends of the economic spectrum, and it has a very strong e-commerce business that was on display this last quarter. That said, when Walmart reported this morning, it missed Wall Street's expectations.