Jim Cramer Insisted Recent AI Chip Selloff Wasn’t A Bottom & Discussed These 17 Stocks 

7. Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holdings in Q1 2026: 357

Amazon.com, Inc. (NASDAQ:AMZN)’s shares are up by 9.5% over the past year and by 7.6% year-to-date. Bank of America discussed the firm on July 7th as it raised the share price target to $165 from $145 and kept a Buy rating on the shares. The bank remarked that Amazon.com, Inc. (NASDAQ:AMZN)’s sell-through appeared to be accelerating due to the recent Prime Day event. The next day, TD Cowen commented on the stock. It outlined that Amazon.com, Inc. (NASDAQ:AMZN)’s second quarter revenue could sit at $200 billion due to faster cloud computing growth. The firm trimmed the share price target to $340 from $350 and kept a Buy rating on the stock. Cramer discussed Amazon.com, Inc. (NASDAQ:AMZN)’s shares in the context of a recent Morgan Stanley note where analyst Mike Wilson suggested that the recent weakness in semiconductor stocks was due to investor preference for hyperscalers:

“Michael Wilson this morning says you should go back into the hyperscalers, which have not done that well. That’s moved Amazon.

“I think that Mike Wilson, has a really cogent piece today. He’s talking about the gains broadening out, talking about the semis losing momentum. Now the takeaway people are using, is that he’s saying buy the hyperscalers. That was one of the reasons why Amazon was up, really they want to buy Alphabet. I looked at what he said about biotech should also benefit from broader leadership. There is a move in biotech that we have not talked about at all that is really extraordinary particularly since the change in FDA.”