Advertisement
UK markets close in 4 hours 32 minutes

  • FTSE 100

    8,230.18
    -24.00 (-0.29%)
     

  • FTSE 250

    20,586.11
    -119.16 (-0.58%)
     

  • AIM

    805.10
    -3.26 (-0.40%)
     

  • GBP/EUR

    1.1750
    -0.0005 (-0.04%)
     

  • GBP/USD

    1.2754
    -0.0017 (-0.14%)
     

  • Bitcoin GBP

    53,256.66
    -474.07 (-0.88%)
     

  • CMC Crypto 200

    1,462.90
    -21.80 (-1.47%)
     

  • S&P 500

    5,306.04
    +1.32 (+0.02%)
     

  • DOW

    38,852.86
    -216.74 (-0.55%)
     

  • CRUDE OIL

    80.46
    +0.63 (+0.79%)
     

  • GOLD FUTURES

    2,346.60
    -9.90 (-0.42%)
     

  • NIKKEI 225

    38,556.87
    -298.50 (-0.77%)
     

  • HANG SENG

    18,477.01
    -344.15 (-1.83%)
     

  • DAX

    18,564.61
    -113.26 (-0.61%)
     

  • CAC 40

    7,980.49
    -77.31 (-0.96%)
     
Money:

Should you support your children at university or help them on to property ladder?

What parents should consider before making a financial decision

Is Amazon.com Inc (NASDAQ:AMZN) The Best Jim Cramer Stock to Buy Now?

Attiya Zainib
·2-min read

Jim Cramer has been recommending Amazon.com Inc (NASDAQ:AMZN) for long-term investors as Amazon.com Inc’s (NASDAQ:AMZN) AWS business continues to shine. Businesses around the world are starting to experiment with AI apps, and companies need AWS computing power and platforms to develop, deploy and maintain AI technology. In the first quarter, Amazon.com Inc (NASDAQ:AMZN) earned $0.98 per share, surpassing estimates by $0.15.  Total revenue increased by about 13% to $143.3 billion, versus the Wall Street estimates of $142.55 billion.  AWS revenue saw growth of 17% to $25 billion. Wall Street was expecting AWS revenue to grow by 14.7%.

Jim Cramer called the Q1 an “absolutely tremendous, lights-out” quarter.

“Amazon is at the top of the class when it comes to generative AI. It has so much going for it that it’s too long to list here,” Cramer said.

AWS accounted for about 62% of Amazon.com Inc’s (NASDAQ:AMZN) total net income in the quarter, which shows how important the segment has become.

ADVERTISEMENT

Amazon.com Inc (NASDAQ:AMZN) bulls believe with inflation expected to slow down in the near future, Amazon.com Inc’s (NASDAQ:AMZN) core ecommerce business will also continue growing.

Vulcan Value Partners stated the following regarding Amazon.com, Inc. (NASDAQ:AMZN) in its first quarter 2024 investor letter:

“Amazon.com, Inc. (NASDAQ:AMZN) is a dominant, world class company with powerful secular tailwinds in place including its ecommerce penetration, digital advertising growth, and the cloud transition. Amazon reported strong results during the quarter. Losses in the Core Retail business significantly narrowed. Amazon reduced its cost to serve on a per unit basis for the first time since 2018 as the company’s recent regionalization efforts continue to bear fruit.”

Is AMZN The Best Jim Cramer Stock?

Despite these positive catalysts, is Amazon the best Jim Cramer stock to buy now?

Our in-depth research and coverage of Jim Cramer's stock picks shows that AMZN is not the best Jim Cramer stock to buy now.

Click to see 10 Best Jim Cramer Stocks To Buy that are better than Amazon.