Jim Cramer Recently Shed Light on These 13 Stocks

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

Number of Hedge Fund Holders: 328

Amazon.com, Inc. (NASDAQ:AMZN) is one of the stocks Jim Cramer recently shed light on. Cramer discussed the positives and negatives around the company’s earnings report. He stated:

“Let me give you two salient ones. First is Amazon, the company we know as a retailer, put up fantastic retail numbers when it just reported. It crushed in advertising, but when it came to its quiet Amazon Web Services division, the business where the big money’s made, the one that competes with Microsoft Azure division and Google Cloud, well, guess what? We got a whole new narrative. It was one of a penny-pinching Amazon, underspending and not buying the latest and greatest NVIDIA chips, the ones that young companies thrive on when they want to develop software. This narrative of Amazon being a share donor to OpenAI swept through Wall Street… But then yesterday, Amazon announced a deal with OpenAI that could be the beginning of an effort to catch up. Customers might not migrate to Microsoft Azure, which is joined at the hip with OpenAI. More important, it was a signal that the shorts had pressed their bets too hard and longs flooded into the stock that had been down 10% between Friday and Monday. This is Amazon. By midday, I wondered if the shorts didn’t get wise to the fact that Amazon’s no pitiful, helpless giant. If it wants to play catch-up, it will simply spend more money because it’s got it to spend.”

Amazon.com, Inc. (NASDAQ:AMZN) sells consumer products, subscriptions, and advertising. The company also offers cloud services, media content, and devices.

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