Jim Cramer Says Amazon’s Retail Strength Reasserts Itself After AWS Concerns

Amazon.com, Inc. (NASDAQ:AMZN) is one of the stocks to watch as Jim Cramer looked at market rationality. Cramer called the company “arguably the best retailer in the world,” as he commented:

“Today, we had a giant run in Amazon, up almost 3%. Why? It’s a follow on move from yesterday’s announcement that the company will be moving to same-day grocery delivery, which the analysts wrote about overnight. Now this is an incredibly disruptive initiative that was basically ignored yesterday. Given that delivery is free with Amazon Prime, it could spell real problems for Instacart, perhaps even DoorDash and Uber. Just as importantly, this announcement changed the narrative about Amazon.

You see, for the past two weeks, the story of Amazon was about how its AWS business had fallen behind Google Cloud and Microsoft Azure, its principal competitors, because it’s using its own slower chips instead of buying them from NVIDIA. It was a very damning storyline. This week, though, we remember that Amazon’s also a retailer, arguably the best retailer in the world. That’s rational, not frothy.”

Jim Cramer Says Amazon’s Retail Strength Reasserts Itself After AWS Concerns

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Amazon.com, Inc. (NASDAQ:AMZN) sells consumer products, digital content, and subscriptions while also providing cloud computing, advertising, and entertainment services. The company develops devices like Kindle and Echo, supports third-party sellers and content creators, and operates the Amazon Prime membership program.

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Disclosure: None. This article is originally published at Insider Monkey.