A surface-to-air missile shot down a U.S. military drone over the Strait of Hormuz, a U.S. official said Thursday.World Politicsread more
President Donald Trump has publicly blamed the Federal Reserve's interest rates hikes for holding back U.S. economic growth.The Fedread more
China's President Xi Jinping arrived in Pyongyang on Thursday morning for a state visit to North Korea — the first by a Chinese state leader in 14 years. Experts say the move...Asia Politicsread more
Gold prices spiked in the afternoon of Asian trading hours on Thursday after a dovish U.S Federal Reserve opened the door to further rate cuts, and the 10-year Treasury yield...Metalsread more
The Fed came very close to promising a rate cut Wednesday, and now markets are focused on a possible July rate cut.Market Insiderread more
Waymo has signed a deal with Renault and Nissan to develop self-driving cars and trucks for use in France, Japan and possibly other countries in Asia, including China, the...Autosread more
It's crucial to note that the culprit behind attacks on two commercial tankers last week has not been conclusively proven.World Politicsread more
"No U.S. drone was operating in Iranian airspace today," a U.S. Central Command spokesman said, according to NBC News.World Politicsread more
The Fed left interest rates unchanged at its monetary policy meeting. The U.S. central bank did, however, drop the word "patient " from its statement and said it would "act as...Asia Marketsread more
As the presidents of U.S. and China near a highly anticipated meeting on trade, the gap in both sides' expectations regarding a deal remains wide.World Politicsread more
Markets had expected the central bank to keep its benchmark interest rate steady while setting up a cut at the July meeting.The Fedread more
Trump feels he has to "sacrifice Broadcom on the alter of Huawei" to humble China in trade negotiations, Cramer argued. Last year, Broadcom received about $900 million in revenue from China-based Huawei, a major maker of smartphones and mobile networking gear.
"The president regards Huawei as the Achilles' heel" of Chinese leader Xi Jinping. The calculation in effectively blacklisting Huawei from doing business with American companies is that China would never let one of its crown jewels of technology fail, the "Mad Money" host speculated.
Tan may be feeling hard done by Trump, said Cramer, pointing out that the Broadcom CEO in 2017 went to the White House, and joined the president, to announce he was relocating the Singapore-based company back to the United States.
In another knock, the Trump administration last year blocked Broadcom's $117 billion bid to buy San Diego-based Qualcomm on national security grounds.
"What a kiss of death, if you're a great friend with the president," Cramer said on "Squawk on the Street. "
"Broadcom is a remarkably good company and it's going to be hurt" in the crossfire between the world's two biggest economic superpowers, he explained.
Shares of Broadcom fell sharply at Friday's open on Wall Street, after the semiconductor maker reported late Thursday weaker-than-expected quarterly revenue. It also announced a 2019 revenue forecast cut, predicting a slowdown in demand stemming from the conflicts between Washington and Beijing. This is being "driven by continued geopolitical uncertainties," Tan said in a statement.
The company is also seeing the "effects of export restrictions on one of our largest customers," Tan added, in a reference to the Trump administration last month barring Huawei, without special permission, from buying equipment from U.S. companies. However, the Commerce Department did put a 90-day hold on the move.
The White House has accused Huawei of being too closely tied to China's communist government and expressed concern about Huawei technology being used for spying against the U.S. For its part, Huawei has repeatedly asserted that it is independent from the Chinese government.
A spokesperson for the White House was not immediately available to respond to CNBC's request for comment on Cramer's remarks.