Don’t Miss Out: Jim Cramer’s 10 Key Stocks to Watch

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

Number of Hedge Fund Investor: 308

Jim Cramer shared that Intel Corporation (NASDAQ:INTC) has struck a deal with Amazon Web Services to produce custom AI semiconductors. Amazon.com Inc. (NASDAQ:AMZN), a major customer of Intel Corporation (NASDAQ:INTC), uses its chips to power its AWS servers.

“Intel Corporation entered a deal with cloud computing giant Amazon Web Services to produce custom AI semiconductors. Amazon is a big customer of Intel chips to power its AWS servers.”

A positive outlook on Amazon.com, Inc. (NASDAQ:AMZN) is through its strong earnings growth, expansion in cloud services, and strategic investments in logistics and AI. In its latest quarterly report, Amazon.com, Inc. (NASDAQ:AMZN) reported impressive revenues of $134.4 billion for Q2 2023, largely driven by its strong performance in e-commerce and AWS (Amazon Web Services), which alone generated $22.1 billion.

AWS continues to thrive despite rising competition, reflecting solid demand for cloud solutions. Additionally,  Amazon.com, Inc. (NASDAQ:AMZN)’s investments in logistics, such as new fulfillment centers and improved delivery technologies, will enhance customer experience and operational efficiency, driving sales growth.

Amazon.com, Inc. (NASDAQ:AMZN)’s use of AI to optimize supply chains and personalize customer interactions is also expected to boost sales. Recent announcements about expanding Prime offerings and ongoing AI investments further highlight  Amazon.com, Inc. (NASDAQ:AMZN)’s confidence in its growth potential, reinforcing a positive outlook for its future in the marketplace.

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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