Jim Cramer Shares Why Amazon.com (AMZN) Shares Are Higher

We recently shared Jim Cramer Rubbished Circular AI Deals & Commented On These 18 Stocks. Amazon.com, Inc. (NASDAQ:AMZN) is one of the stocks discussed by Jim Cramer.

Amazon.com, Inc. (NASDAQ:AMZN) is one of the largest eCommerce and cloud computing retailers in the world. Its shares are up by 44% over the past year and by 10% year-to-date. Like most other technology stocks, Amazon.com, Inc. (NASDAQ:AMZN)’s stock has also performed well over the past couple of weeks, as it is up by 20% in April so far. Citizens discussed the firm on April 14th as it reiterated a Market Outperform rating and a $315 share price target on the firm. The coverage came after Amazon.com, Inc. (NASDAQ:AMZN) announced a major deal in the satellite internet space as it acquired Globestar for a $11.7 billion price tag. The financial firm remarked that the deal will boost the eCommerce company’s spectrum and gateway station portfolio. Amazon.com, Inc. (NASDAQ:AMZN) already operates in the satellite internet industry through its Amazon Leo project (previously named Kuiper). The firm’s CEO, Andy Jassy, recently penned a shareholder letter in which he outlined the role of AI in the firm’s growth strategy. Cramer was left impressed by the letter:

“It was beautiful. . .stock hasn’t looked back, has not looked back. . .that letter, it trumped a lot of Bezos’ letters.”

Jim Cramer Shares Why Amazon.com (AMZN) Shares Are Higher

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While we acknowledge the risk and potential of AMZN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than AMZN and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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