Today we found out whats wrong with the drugstores. Its not the maximum security of merchandise where you need to call the jailer to get a bar of soap. Its not the often downtrodden employees. No. Its amazon. On a day where the dow gained 36 points, up 0. 9 , i see amazon hitting an alltime high, putting it in rarefied air of the 2 trillion club. I see wall grgreens hitting a multiyear low of 12, down 22 today. After reporting an abysmal quarter, it was its worst day ever. Sell, sell, sell house of pain. We had our cnbc Investor Club meeting today, and we discussed the greatness of amazon, but i feel we gave it short shrift. Amazon is so phenomenal, it can destroy any industry it chooses to go after. Its the retail death star. We learned that amazon is planning to launch a Discount Store to go after the ultralow cost but often ultralow quality of temu and shein. Those have become the most powerful apparel makers in the woshld. Now that amazon is rolling out a similar discount story to compete against them, i dont envy they prospects. With walgreens, amazon taking no prisoners, tnp. Amazon missed the estimates by a mile, causing the stock to cascade back to the lowest level since 1997. It will close a significant number of money losing stores. Tim wentworth didnt mince words on the Conference Call. The severity and challenges of the operating environment have only added urgency. He went on to say, we are at the point at the point where the current pharmacy model is not sustainable, and challenges require we open the market differently. No wonder the stock was down 22 . Wentworths ideas include putting money behind the pharmacy business, because that business is still good. That doesnt mean opening clinics as walgreens has a stake in village md, which they intend to monetize, although i dont know how. Walmart recently closed its 51 Health Care Clinics in their stores because they couldnt make them work. Too costly, hard to staff. Who they have thats going to pay for these properties, i have no idea. Lets deal with the reality of the situation. If you listened to the Conference Call today, and it was a tale of woe, frankly, you would have heard Tim Wentworth trying to make sense of the decline. You may not know hes one of the finest Business People in the world. He knows this business well. Hes identified the edge that walgreens has for the moment. The pharmacy in the back of the store. But as walmart found out, pharmacists are also hard to find. Wentworths been spending a lot of time talking to 15 pharmacy schools, as well as talking to trade associations, just to find some workers. Its vital. But how much will it even matter . It might be a foot race. Can they close enough stores, stop the pilferage and hire enough pharmacists while they get out of bad leases, shrink the store . Will rite aid close enough stores . Or will amazon simply eviscerate them . Like it did to the late, lamented borders or the shri shrinking barnes noble bookstores. For years and years, walgreens relied on shoppers who bought all sorts of merchandise in part because they needed to get to the back of the store and pick up their drugs and walk back to the registraer. They were terrific almost captive customers who seemed more sensitive to time than price. We had two huge Beautiful Stores of theirs within a block of our office. When the second one opened, it was a gorgeous store. It had everything. It had sushi. I had the sushi. It was okay. We did a show from it with an old ceo of walgreens. I remember asking the manager how it was possible, how they could have two Stores Within a block of each other. The answer . Too much business to handle at one store. Now, both stores are closed. Too little business. What really happened here . For one thing, service went to hell. They fired as many people as they could. But then they became groeund zeo for theft. Now you have to call a clerk to open the gate. However, having fired a ton of workers, there arent enough people to open the plexiglass lids. I once waited five minutes, charted on my phone, pressed the button to see it was really five minutes. Nothing happened. Five minutes waiting for shaving cream. Pushing some button while i stood by idly. I finally just left. Its a lesson in how to turn a Walgreens Customer into an amazon customer. If youre an amazon prime subscriber, instead of taking time to ring the buzzers and hope that some downtrodden walgreens employees will break away from what they were needing to do and open your plastic doors, or just order from amazon. Amazons been working endlessly to ensure sameday delivery for the stuff. Do you care you cant forget the shaving cream at 10 30 a. M. At your office or home. You dont save intraday. The only difference is that prime is cheaper. And its not like the he was the president of the united states. And its not like they only have the basics instead of the exotics that are almost always under lock and key. Amazon more varieties than walgreens. They have 42 different old spices instead of just the usual 17. They got every old spice. How many new old spices came out today . Come back to me. Amazons never set out to destroy borders. They didnt set out to destroy walgreens, either, but they set out to get the best products with the best prices at the most convenient places, meaning your home. Walgreens cant afford to have the lowest prices and we never expected them to. Who would have thought the stores could be less convenient than amazon . Its a wonder to behold. Lets throw in one more issue, watching people right in front of you steal what youre actually paying for. Ive seen this happen in walgreens all over the country. Ive seen people caught by police and then released on the spot. I was part of a San Francisco catchandrelease program. Im not get a Police Officer told me first, he asked me if im an angler. Heres an amazing thing. You have to pay when you shop at amazon. Its a bummer, you know, you got to press that button. I dont know. You pay. Sorry. Meanwhile, beyond the front of the store, amazon is constantly trying to be your pharmacist. They offer a bunch of medicine, and you can go toglp1. They got the wegovy. Its on the home page. I think it will be game over for the back of the store once we begin to speak to an a. I. Version of our doctor pharmacist, which is what theyre working on, and that doctor is a lot more empathetic than your doctor, especially if youre the village what is it . The village dm . What is it . What do they call that . The city md summit . Whatever. Thats when the drugstore goes the way of the dodo, bookstore. Heres the bottom line. The stock market can be a brutal, brutal, brutal ctask master. So can capitalism. Im sure well come up with some way to make money before its dead position wipes it out, but right now, my money is on the company with the stock thats on the alltime high list, not the one thats on the new low list. My money is on amazon. I feel like taking calls. I feel like going to betsy in california. Lets speak to betsy. Betsy . Yeah, hey, cramer. I got one that is on the low list, and im struggling with it, because the pe is 8. 9. The profit margin is 13. 59. And the institutions at 77 or 75 depending on which chart you read. And yet, the Raw Materials are schlepped halfway across the country, and is you need a process the Raw Materials into coke before you even can make the finished product. Okay. Cramer, when tell me when can i invest in nucor again . I think nucor is the greatest manufacturer in america. I think the problem is that the estimates are going to prove to be too high, because business is slowing. This is what the feds doing. And understand that were not against the fed, because we dont want inflation, but nucor right now is a casualty, and once the fed starts cutting, youre going to be in that stock. Maybe it takes some pain now, betsy, and youll get some gain later. By the way, when shes speaking of coke, shes not speaking of an illegal one or a liquid one. Shes speaking about something thats made in a steel mill. I dont want people to get the wrong opinion of anybody. Look, im sure walgreens will find a way to make some money before its deposition wipes it out, but my money is on amazon. Its the company thats hitting alltime highs rather than the ones that are hitting the lows. On mad money tonight, micron fell out of favor today because of a forecast. Thats ridiculous. Lets i think its garden variety profittaking and redhot stock. Lets talk to the ceo. Dont miss my exclusive. Then, is it time to raise a glass to corning . Im giving you my take and sharing if the glass remains half full on the story. What should you make of aerovironment . Im getting the latest from the ceo. Stay with cramer. Citis industry leading Global Payments solutions help their clients move money around the world seamlessly in over 180 countries. And help a partner like the World Food Programme as they provide more than food to people in need. Together, citi and the World Food Programme empower families across the globe. Clems not a morning person. Or a. People person. But he is an i can solve this in 4 different ways person. You need clem. Clem needs benefits. Work with principal so we can help you with a plan thats right for him. Let our expertise round out yours. Daves company just scored the comcast business 5year price lock guarantee. High five high five. Im on a call. Its 5 years of reliable, gig speed internet. Five years of advanced security. Five years of a great rate that wont change. Yep, daves feeling it. Yes. But its only for a limited time. Five years . Five years. Introducing the comcast business 5year price lock guarantee. Powering 5 years of savings. Powering possibilities. All right, what the heck just happened to the stock of micron . Last night, the commodity chip maker, and this is the last time ill call it a commodity, by the way, reported an impressive set of numbers but the stock did get hurt. 14 cents beat off a 48cent basis, its earnings per share up from the previous quarter. Sounds pretty good, right . I thought so, and most of the analysts agreed, but the stock got slammed anyway. I saw people saying the problem was microns Sales Guidance, which was merely in line with the consensus estimates, not above expectations. That strikes me as a bad reason to dump this stock. I think its just micron was due. Its doubled since a year ago. Thats what i think is going on. Dont take it from me. Lets check in with the president and ceo of micron technology. Welcome back to mad money. Jim, great to be back on your show today. Thank you, sanjay. Lets step back for a moment from the daytoday trading. You have come up with some incredible chips. Theyre not commodity chips. Theyre incredibly proprietary, and you have a hidebandwidth memory chip thats probably going to be the star of the next 10, 15 years for a. I. You are not given to hyperbole. There are people who want you to be hyperbolic. Is it not true that these chips could be particularly high bandwidth memory huge chips for many years because of a. I. . Absolutely. We are in the very early innings of a. I. Here. Highbandwidth memory last year was in single digit billions of revenue, low singledigit billions of revenue in our industry. As we look ahead in 2025, highbandwidth memory is going to grow to over 20 billion of revenue, and micron, in the very First Quarter we reported we began shipping this product and already achieved 100 million of revenue, and we said in our fiscal 24, we will have several hundred millions of dollars of revenue, and growing into multiple billions of dollars of revenue in our next fiscal year, which will start in september. And this product is already accretive, and jim, what is exciting is that this is a highly complex product. Micron has the best product in the industry, 30 lower power than any of the product, and you know that in a. I. Applications, datacenter applications, performance is important. And of course, we have better performance with our product as well. So, this product is critical to a. I. Applications, because this is what increases the power for the communication between the gpus and the memory. Thats very important. Thats what enables, ultimately, a. I. Applications. It enables generative a. I. We are in the early things. I think we have a long road ahead of exciting opportunities. This is hpm3e. There will be hbm4 and following iterations, so exciting road map ahead, and we are very much focused on it and excited about the opportunities and micron team. Its very much focused on execution here. Some people are know the micron, say, from the 90s and the early part of the of this century, and then last, even, eight, ten years, that its boombust, boombust, but the product you just described is not a commodity. It is a secular growth chip that people arent used to seeing micron do, and therefore, i think they dont understand that you are not going to sit here and say that its going to be huge, although we dont know whats going to happen after. Thats not the trajectory of this hbm. Hbm enables tremendous opportunities for differentiation. It enables opportunities for differentiation. The future generations of hbm that i mentioned, like hbm4 actually enable processor and memory to come together to even drive data innovation faster performance, the compute platforms at the accelerator levels in terms of interface with the gpus, and important thing also is that hbm is the kind of memory that takes three times more silicon to produce the same number of bits. So, as hbm grows in penetration and the dram market, and of course it will scale up as a. I. Gets bigger, it actually is a headwind to the supply growth in the industry, so hbm is really a great margin accretive product for not only by itself but it actually has an impact, that ripple impact on the pricing increases through the rest of the dram industry as well, because of this supply impact that it has. At the same time this is a great product, and important thing, jim, is that, of course, hbm is a great product for a. I. , but a. I. Is permeating through edge devices as well. Pcs and smartphones where micron is well positioned are also, you know, enabling a. I. And they require more memory content than those devices as well. And this is why, jim, we say that micron will be one of the biggest beneficiaries of growth enabled by a. I. In the semiconductor industry, because our exposure to a. I. Growth goes from datacenter to edge devices such as smartphone and pcs and automobiles, so, really, i dont think, besides nvidia, any other company has as large an exposure to the a. I. Growth as micron does in the semiconductor industry. I want people to know your history. You came on. You told me back in, literally, a year ago, that, look, inventories, which had been very bloated, and i many, many times, i said, give me the five give me the go ahead. You said, the inventories are elevated. Inventories were no longer elevated last summer. You said that. Thats when the stock was in the 60s. What and that was money good, and everybody who listened caught a double who listened to you. Im hearing you now aying, listen, we and i know that you these products are harder, so you dont get the yield immediately that you are not saying that, look, we are in the sixth or eighth inning. Youre saying we are early because this is a different kind of chip for micron. Absolutely. A. I. Is in early things. Generative a. I. Is in early innings. Highbandwidth memory is absolutely in early innings, and it is really a generational product, totally transformative kind of product for our industry, but again, its not just hbm. Micron has products, highdensity, which will be several hundred millions of dollars in our second half of this fiscal year for us, as well as low power drams which also go in datacenter servers. And of course, we have strong portfolio of products that go into smartphones and pcs and automobiles, and of course, drives our enterprise as ddrives hit a record for us in our f q3 that we reported, again, driven by growth of a. I. We talked about it in our Earnings Call yesterday, jim, that our datacenter revenue mix this year will be a record level, and it will grow from here on in fiscal year 2025 as well, so we are absolutely playing along the stretch that we defined a while ago to continue to shift the mix of our products toward higher margin solutions, and datacenter is an important piece of that. At the same time, i was trying endlessly to say, listen, can i call an end to the pc cycle . And you said, no, no, no, and that was dead right. But now, with a. I. In the pc, i hear you saying that things could be quite good. Things have largely played out as we said before, jim. We said datacenter inventories will normalize by midsummer. They have normalized, and you are see a strong buying pattern for memory in datacenter. We had said sometime ago that because of increasing prices of memory, as well as tightening supply that our customers were seeing with memory shifting more and more toward datacenter, and of course, that a. I. Pcs and a. I. Smartphones coming online in the second half of the decade, some customers in pc and smartphone markets built some inventory, but this is really to address their demands, and as we look at 2025, a. I. Will drive growth in pc and smartphone as well. Pc is going to have refresh, windows 12, as well as expiration of windows 10 and new a. I. Pcs is going to drive a new replacement cycle. Many, many so, yes, we are positive on pc and smartphone, and well positioned to address growth there as well. I want people at home to understand, he did not say that because he is hyperbolic. Sanjay, and hes right here, so i feel a little awkward saying it behind his back in front of him, is conservative. Thats one of the reasons why people sold down the stock. Dont ever say, im going to sell a stock because someone gave conservative guidance when they have been right about their guidance the whole way in the sense that they did not put any hype into the numbers. Sanjay mehrotra, thank you for coming on mad money. I think you really told us the way people should understand. Great to see you. Thank you, jim. No hype. Just great numbers. Mad money is back after this. Announcer coming up, in case of profits, break glass . A stock screen about a stock that helps make screens. Next. sandals rhythm and blues caribbean sale is now on. Visit sandals. Com or call 1800sandals. University of maryland global campus isnt just an innovative state school, its a school for real life, one that values the successes youve already achieved. 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