5 Best Jim Cramer Stocks To Buy According to Billionaires

2. Amazon.com Inc (NASDAQ:AMZN)

Number of Billionaire Investors: 33

 Jim Cramer earlier this year said that Andy Jassy, Amazon.com, Inc. (NASDAQ:AMZN)’s CEO, is “back” and he’s in his “prime.” Jassy recently sat down with Cramer for an interview and they spent most of their time discussing AI and how Amazon.com Inc (NASDAQ:AMZN would benefit from the AI revolution.

Billionaires have been piling into Amazon.com Inc (NASDAQ:AMZN) shares this year. A total of 33 billionaires in Insider Monkey database had stakes in Amazon.com Inc (NASDAQ:AMZN) as of the end of the September quarter. Some notable billionaires having stakes in Amazon.com Inc (NASDAQ:AMZN) include Ken Fisher,  Rajiv Jain, Philippe Laffont and Warren Buffett.

Here is what White Brook Capital has to say about Amazon.com, Inc. (NASDAQ:AMZN) in its Q3 2023 investor letter:

“The magnificent seven, that underpin the S&P 500 performance, which includes Amazon.com, Inc. (NASDAQ:AMZN), now comprise almost 30% of the market capitalization of the S&P500. At least three of the seven stocks have heightened downside risk and suffer from already high penetration, weakening end markets, competitive risk, and lofty valuation. They have been remarkably resilient to increased interest rates and the potential for slowing growth.”