Cramer delivered a pointed message to investors during the member Q&A segment on the July 17th episode of CNBC Mad Money Investing Club, outlining what to sell and where to rotate.
His core advice was direct: dump Oracle (NYSE: ORCL), stay away from every liquor stock, and position for late 2026 in cyclicals, defensives, and select semiconductors.
A member asked Cramer what to do with Oracle after holding it for two years, during which the stock has fallen roughly 6% despite offering a 1.6% dividend yield.
Cramer’s response cut straight to the point: “I don’t care where you bought a stock. I care where it’s going to, and I think that stock is going down. It doesn’t fit in for what I would consider to be an IRA. I think it’s too risky. I think you should sell it.”
Oracle’s Q4 FY2026 results showed Cloud Infrastructure revenue jumping 93% year over year to $5.79 billion, while remaining performance obligations surged 363% to $638 billion.
However, full-year free cash flow came in at negative $23.69 billion against capital expenditures of $55.66 billion, with management planning to raise roughly $40 billion in FY2027 through debt and equity issuance.
The stock has fallen 47.64% over the past year and 33.43% over the past month, closing at $126.78, raising serious questions about near-term risk for retail investors.
On the spirits sector, Cramer was equally categorical, warning investors not to attempt to pick a bottom in a sector that is broadly deteriorating.
He stated: “I know this liquor business is cold… I would not touch any liquor company right now. There are a lot of ones, the gins, the vodkas, the browns, they’re all doing terribly. You don’t need to try to call a bottom.”
Diageo (NYSE: DEO) fits squarely within that warning, with the company’s North America region, its largest, weakening materially in fiscal Q3 2026 while US Spirits contracted and management flagged the need for a more competitive commercial offer.
Diageo shares are down 49.1% over the past five years, underscoring just how prolonged the pain in this sector has become for long-term holders.
Cramer outlined where he sees opportunity, saying: “I like the banks. I like the pharmaceuticals… I know it sounds crazy, but I love travel and aerospace. And then I will like tech when the big unwind is over, particularly some of the less speculative semiconductors that I think are really great.”
In banking, JPMorgan (NYSE: JPM) delivered a strong Q2 2026 with a significant EPS beat, double-digit revenue growth, standout equity markets performance, and a new share repurchase authorization, with shares up 22.34% over the past year.
In pharmaceuticals, Johnson and Johnson (NYSE: JNJ) grew Q1 revenue at a high-single-digit pace, raised its dividend for a 64th consecutive year, and lifted its FY2026 adjusted EPS guidance, with shares up 55.49% over the past year.
On the travel side, Delta Air Lines (NYSE: DAL) posted a Q2 adjusted EPS beat, with premium revenue up double digits and a 15% dividend increase set to begin in the September quarter, with the stock up 25.89% year-to-date.
In aerospace and defense, RTX Corporation (NYSE: RTX) beat Q1 EPS estimates, grew free cash flow sharply year over year, and closed the quarter with a record multi-hundred-billion-dollar backlog spanning commercial and defense contracts, with shares up 31.49% over the past year.
For semiconductors, Nvidia (NASDAQ: NVDA) reported Q1 FY2027 revenue growth above 80% year over year, with Data Center revenue surging sharply and management describing the AI infrastructure buildout as the largest expansion of its kind in modern history.
Cramer’s overall positioning for the remainder of 2026 reflects a preference for companies with proven earnings power, durable demand, and manageable risk profiles over high-capex technology bets still searching for profitability.
