Up 66 percent year to date, Netflix's stock is the best performer in the S&P 500. Better yet, shares of the streaming giant have climbed over 1,000 percent in the last five years.
"But after spending a week in Silicon Valley, I realized something kind of crazy. Right now, the thing the experts love most about Netflix is its massive library of original content. Yet, not that long ago, this was the single most hated part of the story," the "Mad Money" host said.
The naysayers were so forceful that investors who listened might have assumed that Netflix was effectively burning money, accelerating its inevitable downfall, Cramer said.
Now, the market has almost universally accepted Netflix's content library as its greatest strength — a far cry from what Cramer heard the experts say for years.
"These days, we all accept that when Netflix spends $7.5 to $8 billion on non-sports content this year — more than Viacom or CBS — it's a good investment, good because this programming is what fuels the company's explosive subscriber growth," Cramer said. "And new subscribers are the magic ingredient that sends this stock to new highs."