ARM Holdings Is Still a Buy

"When you have an ultra-hot, turbocharged momentum stock, it's rarely enough just to meet expectations," Cramer said Tuesday. "You have to blow them out of the water."

Take Cramer fave ARM Holdings , for example. When the chipmaker reported earnings Tuesday, it beat slightly on revenue and gave in-line guidance for the rest of the year. Given the stock is currently selling for 46 times earnings with a 14 percent long-term growth rate, Cramer said momentum investors were hoping for more. Meanwhile, analysts are concerned its average royalty per device is down 2 percent for the quarter. Cramer doesn't care about past deals, though. He's only concerned about the future, including new licensing deals that he thinks are strong.

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To learn more about the company's future prospects, the "Mad Money" host welcomed CEO Warren East onto the program. Check out the video to see video of the full interview.

Call Cramer: 1-800-743-CNBC

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