Cramer Remix: The truth about Facebook's future

Jim Cramer watched as the market was roaring strong on Thursday, until about 2 pm Eastern. That's when investor Carl Icahn told CNBC that he sold Apple over concerns of Chinese weakness.

Those comments sent the market plummeting, and Apple lost another 3 percent.

However, there is still plenty of opportunity in the market. One stock that displayed exactly what a company can do in this environment was Facebook, which soared 7 percent Thursday. In fact, Cramer thinks it should have been up more than it was on Thursday.

"The numbers are downright sterile compared to what is really going on at Facebook," Cramer explained.

Cramer added that the magic behind Facebook is that it has managed to transform how people live their lives, and make an impact that most businesses can only dream of. It now has 1.09 billion daily active users that spend around one hour a day on their page, Instagram or messenger.

That is one billion more people who found time to be on a network that didn't even exist a dozen years ago.

Facebook grows its gross margins by including more ads, because users create more content. And it's all done on a phone, which Cramer thinks is the real secret, because a phone is always with the user.

Read MoreCramer: Don't just listen to Carl Icahn on Apple

Carl Icahn at Delivering Alpha 2015 in New York.
Adam Jeffery | CNBC
Carl Icahn at Delivering Alpha 2015 in New York.

Cramer watched Valeant's outgoing CEO Mike Pearson testify on price gouging this week, he wondered if the worst is finally over for all things pharmaceutical.

"When this kind of controversy finally gets to the point where there are Congressional hearings, historically it's the endpoint, not the start of an attack on what drug companies do," the "Mad Money" host said.

In fact, Cramer is seeing signs everywhere that at last the long drought for drug companies on Wall Street might finally be over.

"My conclusion is yes, if you don't' own pharma, I would say it is time to do some buying," Cramer said.

Read More Cramer: Raging bull market brewing for pharma

As for Domino's Pizza, which fell more than 9 percent on Thursday, the company saw its first earnings miss in over four quarters.

After posting excellent numbers last quarter, Jim Cramer spoke with Domino's CEO Patrick Doyle to find out if it is now a victim of its own success after delivering such a strong quarter last time.

"I think that certainly has a lot to do with it," Doyle said.

Read MoreDelivery dilemma? Why Domino's Pizza has its eye on Uber, Lyft

Bulls clash
Karim Sahib | AFP | Getty Images
Bulls clash

Cramer has been warning investors not to place too much confidence on the idea of a tech wreck on Wall Street. But there are certainly some soft spots within the sector.

Avnet is a top distributor of electronic components, computer products and embedded technology. It is also the No. 1 distributor of components such as semiconductors, and has a presence in IT hardware, software and services.

Cramer often compares it to being the supermarket of technology, or an arms dealer to the industry. However, he was surprised when Avnet indicated a decline in Asia. To find out more, he spoke with Avnet's CEO Rick Hamada.

"We don't think things are that bad in Asia as well. What it comes to the miss on the revenue, it's really concentrated more on our expectations for the IT hardware side of our business," Hamada said.

One semiconductor stock that has been roaring since February and finally took a breather on Thursday was NXP Semiconductors. Last year it purchased Freescale for $12 billion, making it a major player in the industry.

NXP's chips help to power the internet of things and the connected car, and invented what is known as near-field communications—the technology behind Apple Pay. Cramer spoke with NXP Semiconductor's CEO Rick Clemmer, who confirmed the company's strategy is to invest in areas where it has an opportunity to be a leader.

"Our strategy is to make sure that we are a leader in the spaces that we want to invest. We want to be at least 50 percent larger than the No. 2 player," Clemmer said.

In the Lightning Round, Cramer also gave his take on a few caller favorite stocks:

Cyberark Software: "Look, payments processing whether it be a Paypal or a Mastercard, and cybersecurity whether it be a Cyberark or a Fortinet, Proofpoint or Palo Alto — they are all growing fast but right now they are out of favor. I think they will come back in favor. I do not want you to sell Cyberark. By the way, that was a stock again that was hurt by the Icahn sell-off that shouldn't have been."

Greenhill & Co: "With Goldman Sachs down so much, why do we have to mess around? Goldman Sachs is back at its book-value price. Let's do some Goldman. The window is closing for the selling soon, too. I think Goldman Sachs is a better buy."

Read MoreCramer: It got hit in Icahn sell-off that shouldn't have happened