Squawk on the Street 5/11/26

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Jim Cramer (1:00)

It's Jim Cramer here. You're listening to the opening bell of CNBC Squawk on the Street. Don't miss a minute of the action.

Carl Quintanilla (1:14)

Good Monday morning, welcome to Squawk on the Street. I'm Carl Quintanilla with Jim Cramer, David Faber of Post 9 of the New York Stock Exchange. We kick off an important week this morning with inflation data on deck for the week, a Senate vote on Kevin Warsh, this US-China summit. Meantime futures a bit soft and oil's a bit elevated as the war does enter week 11, and the president calls Iran's counter proposal totally unacceptable, retail gas, 452 a gallon. Roadmap begins with the S&P and NASDAQ both riding six weeks windstreaks as we begin this new week of trading.

David Faber (1:45)

Plus, we're going to continue to watch that incredible move we're seeing in some of these chip stocks or at least when it comes to Intel and Micron. Yep, they're rallying again in the pre-market. Both names have more than doubled since April. We'll take you live to Oakland as well. That is where Microsoft CEO Satya Nadella is expected to take the stand today. It is the third week of the Elon Musk versus OpenAI trial.

Carl Quintanilla (2:11)

Let's begin with the market's record run here thanks in part to the AI trade and earnings optimism, Jim. Even if it is highly concentrated in semis right now.

Jim Cramer (2:19)

Look, no one's ever seen it like this. Okay, so I have a 2X DRAM to start today. Thank you very much for that. Where you have this, let's see, you know, you have one DRAM index and I'm looking at the index. I'm saying, holy cow, this thing is just chock full with what's red hot. You see that NVIDIA is the donor to Intel, to AMD, Qualcomm in particular, which probably makes no sense to me because that's like the least impacted.

It is David almost as if taking, this is what people say. I'm not believing this, but I know what people say.

David Faber (2:55)

Tell me what they say.

Jim Cramer (2:56)

What phrase do they say?

Taking candy from a baby. Now, that's usually right at the end.

David Faber (3:02)

When you're taking candy from a baby.

Jim Cramer (3:04)

I'm here to take candy from a baby.

David Faber (3:06)

No kidding.

Jim Cramer (3:07)

Yeah.

David Faber (3:09)

What really happens when you take candy from a baby, though?

Jim Cramer (3:12)

The baby doesn't, the baby doesn't, can't stop you.

David Faber (3:15)

No?

Jim Cramer (3:15)

No.

David Faber (3:16)

All right, I'm just thinking about that.

Jim Cramer (3:17)

Well, I mean, like I read, you took candy from a baby, and then they did a convertible. You were the loser.

David Faber (3:21)

That same quote, that different quote about babies, like I sleep like a baby, Robert Grissetta, the old CEO of Coke, when I wake up every few hours and I cry. Remember that one? So I was just thinking about, I love that one.

Jim Cramer (3:33)

Just to bring it back to the material, there is an unreal nature to when you come in.

David Faber (3:42)

This is unbelievable.

Jim Cramer (3:44)

Yeah, it is.

David Faber (3:44)

These moves are incredible. Now, things have changed that quickly. We're in such a dynamic period.

Jim Cramer (3:50)

So Micron may be.

David Faber (3:51)

That your view of Micron is, well, now it's worth three times what it was worth.

Jim Cramer (3:55)