Jim Cramer always has his eye out for companies that can give investors an unparalleled perspective on what is happening in multiple industries.
One of those companies is FLEX, the company formerly known as Flextronics. It is the second largest electronics manufacturing services company in the world and has widely varied businesses that touch medical, automotive, aerospace, consumer technology like smartphones, wearable gadgets such as Fitbit, as well as printers and networking equipment.
"These days FLEX is more like an innovation factory, one that helps its clients invent new products and then continues to provide its expertise through every stage of the process, from design to production to distribution," the "Mad Money" host said.
Nike recently partnered with FLEX to co-innovate products. The company has also been moving aggressively in the Internet of things space with a series of acquisitions, though FLEX prefers to call this trend "the intelligence of things" because it thinks it is about more than just making everything connect. It also wants things to be smart.
To get his finger on the latest pulse in technology, Cramer spoke with FLEX CEO Michael Mcnamara.
The CEO explained that Nike chose FLEX is to be its manufacturing partner for the future. That includes thinking about how to innovate products for the future and bringing products to customers around the world at a faster pace.
Read more from Mad Money with Jim Cramer
"Think about it, doing shoes is not really what you would think about with FLEX … but they are a manufacturing-revolution company. They are going to the next generation, and they want a next-generation-manufacturing partner," Mcnamara said.
Cramer noted that the stock is still extremely cheap even though the company has bought back a third of it. What could the market be waiting for?
"It's hard for us to figure out … we just try to put up the numbers. Even the end of last quarter, it's kind of a slow economy, and we did a beat and raise," Mcnamara said.