Mad Money w/ Jim Cramer 11/2/26
- Oil's drop pulled long rates down, lifting Amazon, Capital One, JP Morgan, Costco and Walmart on no company news
- Non-tech growth is where the money went: medical devices like Medtronic and Intuitive Surgical, plus staples Pepsi and P&G
- Apple's record September quarter beat on iPhone and Mac, but Cramer expects the stock lower short term on guidance
- Oracle filed to raise $20 billion days after saying it would limit raises; Intel seen losing PC share to AMD
The call is that falling long rates are repricing everything outside tech right now rather than earnings, and Cramer says growth stocks away from semis are the clean way to play it. He is warning Apple holders that guidance will disappoint even after a record quarter, and he is openly annoyed at Oracle for raising capital immediately after promising restraint.