Tesla's earnings miss, Southwest and CrowdStrike CEOs, T-Mobile's Incoming CEO 10/23/25

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Carl Quintanilla (0:45)

Market moving insight and analysis. Join Jim Cramer, David Faber, and me, Carl Quintanilla, on the opening bell hour of CNBC Squawk on the Street.

David Faber (0:54)

Hi, good Thursday morning.

Sara Eisen (0:55)

Welcome to Squawk on the Street.

Scott Wapner (0:56)

I'm Scott Wapner with Jim Cramer at Post9, New York Stock Exchange.

David Faber (1:00)

David is on assignment.

Scott Wapner (1:01)

Carl has the morning off. Our roadmap this morning begins with Tesla. Shares under pressure in the pre-market. Profit plunging despite a record quarter of EV sales. Plus, we have some big interviews coming up this hour. Southwest Airlines CEO joins us exclusively on the back of its earnings beat. Plus, CrowdStrike CEO George Kurtz coming up and T-Mobile's incoming CEO, the telecom giant topping estimates, raising its guidance as well. We do, though, begin with Tesla following its earnings miss and the revenue beat. Take a listen here to Elon Musk outlining his production strategy during last night's earnings call.

Elon Musk (1:39)

I feel confident in expanding Tesla's production. So that is our intent to expand as quickly as we can our future production. So I was I was ready to do that until we had clarity on achieving unsupervised full self-driving. But at this point, I feel like we've got clarity, and it makes sense to expand production as fast as we reasonably can.

Scott Wapner (2:11)

All right, so that's Musk on the call, which I'm sure you listen to and have gone through extensively. What are your thoughts?

Jim Cramer (2:16)

I actually love the call, and I think people are missing the point. Yes, okay, so there were a lot of noise about cars, including, by the way, the end of the benefit. This was a stake in the ground about autonomous, about optimists, robots, and I felt the beginning of what you could say is what we're going to see in the world. The idea of the surgeon going into a poor area and the surgeon being a robot. The reason I mention this is because the clime that we've had in this stock was not about autos. It was about optimists. It was about battery. Look, what is the biggest issue we have in the data center? We have all this power that comes out at night, but we don't use it. So he's talking about capturing it. I think he's in big think mode, and people want to trap him by the production numbers. They're beating Lilliputian.

He's got it. I mean, he really understands the moment. And other than the corporate terrorism line, which we will get to, I loved it. When he talked about how the optimist hand, how hard it is to work, this is something I hear from many of the robot companies, which is that it's very difficult to get the robot to pick up a particular package because of the different sizes.

Scott Wapner (3:33)

It's not like you can go to a supply chain and say, hey, let's order some hands of robots and their challenges. They literally have to build these things from scratch.

Jim Cramer (3:43)

Right. But look, I mean, he's running parallel to Jensen Mawg and NVIDIA. NVIDIA, they're trying to do the exact same thing with the robot. By the way, he says, I'm not going to evict NVIDIA anytime soon. I'm going to use NVIDIA chips. But Scott, when I read this, I mean, it's so easy to trap him by saying, well, wait a second, Berlin, the numbers aren't that good. Or you can say maybe he's going to have 20 million robots and that that's the way this company becomes a $10 trillion company.

Scott Wapner (4:09)

That's what the thesis is of a Dan Ives, for example, who says you can get to two, if not three trillion in market cap in calendar year 26 or 27 And none of it has to do with production. It's all about the big picture view of robots and autonomous driving.

Jim Cramer (4:27)

Over and over again, I hear that the stock, look, the stock could be up by the end of the day if people actually read the fine print about what this man is doing, whether it be for autonomous, by the way, autonomous. I mean, you know, look, Austin, he keeps talking about upping it. The idea of the rubber taxi, he's spot on on that. I just thought the quarter, his intrusion in the quarter was all about big thing. And I really urge people to read him because you will think twice about what's going to happen with AI. You'll think twice.