Jim Cramer Recently Commented on These 12 Stocks

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1. Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders: 335

Amazon.com, Inc. (NASDAQ:AMZN) is one of the stocks Jim Cramer recently commented on. Cramer discussed the company in detail during the episode. He said:

“So let’s consider the case of Amazon. A week ago, despite tremendous derision, I defended owning Amazon on this show, a stock that had fallen behind the other six names in the Mag Seven… First, Amazon reported an incredible quarter with a huge uptick in the web services business, where the growth rate jumped from 17.5% to 20% off a much larger base than Microsoft. And for the second punch, if you were worried that Amazon wasn’t investing enough in the web services biz, well, today we learned that’s not the case at all. Amazon Web Services inked a multi-year strategic partnership with OpenAI…

Under this $38 billion agreement, OpenAI is ‘accessing AWS compute comprising hundreds of thousands of state-of-the-art Nvidia GPUs.’ The result, in just a few days’ time, the gigantic company, now $2.7 trillion, bolts from $222 to $254, and the stock goes from being unchanged for the year to nearly up 16%. A loser? Nah, a winner. That’s monumental… Now, I don’t bring up this incredible Amazon gain to brag that I own the stock for the Charitable Trust despite constant chiding and endless criticism from the bears who seem to be everywhere….

But no, I bring this up to refute the worries about the dangers of concentration that I heard literally that this is what’s going to cause the market to go down and hurt these stocks the most… The reason why this market gravitated to Amazon last week is that it’s the most valuable unit, Amazon Web Services has accelerated growth. It went from 17.5% growth, not too shabby, to 20% growth, which is rather remarkable given the law of large numbers. 20% growth off a $132 billion revenue run rate with a 34% gross operating margin? For heaven’s sake, that’s some of the most profitable growth the world has ever seen.”

Amazon.com, Inc. (NASDAQ:AMZN) sells consumer goods and digital content through online and physical stores, provides advertising and subscription services, operates Amazon Web Services for cloud computing, develops electronic devices, produces media content, and offers programs supporting third-party sellers and content creators.

While we acknowledge the potential of Amazon.com, Inc. (NASDAQ:AMZN) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AMZN and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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