10 Large Cap Stocks Jim Cramer Can’t Stop Talking About

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

Number of Hedge Fund Investors: 308

Market Capitalization: 1.85T

Jim Cramer shared his views on Amazon.com Inc. (NASDAQ:AMZN), explaining that he recently purchased more shares of the company because he felt the market was too critical of its last quarterly performance. Cramer believes Amazon.com Inc. (NASDAQ:AMZN) is a solid investment and expects it to continue performing well in the future.

“We recently bought more Amazon shares because I believe the market was too harsh on their last quarter. Amazon is a buy, and I think it will continue to perform well.”

Amazon.com Inc. (NASDAQ:AMZN)’s Q2 2024 earnings report reveals a strong recovery, with revenue reaching $134 billion, up 11% from the previous year, and net income soaring to $6.7 billion, up from $6.75 billion from the same quarter last year. This turnaround is largely driven by a 19% increase in revenue from Amazon Web Services (AWS), underscoring Amazon.com Inc. (NASDAQ:AMZN)’s dominant position in the cloud and AI markets. Amazon.com Inc. (NASDAQ:AMZN)’s investment in generative AI and warehouse automation supports its long-term growth prospects, especially in high-margin areas.

Although the retail segment faces some challenges due to cautious consumer spending, Amazon.com Inc. (NASDAQ:AMZN)’s strategic improvements in its delivery network and shopping experience are expected to enhance margins and increase market share. Analysts remain optimistic about Amazon.com Inc. (NASDAQ:AMZN)’s future, with expectations for continued growth in AWS and positive outlooks from major financial institutions like JPMorgan and Wedbush.

While we acknowledge the potential of Amazon.com Inc. (NASDAQ:AMZN), our conviction lies in the belief that under the radar AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than the ones on our list but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: $30 Trillion Opportunity: 15 Best Humanoid Robot Stocks to Buy According to Morgan Stanley and Jim Cramer Says NVIDIA ‘Has Become A Wasteland’.

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