Jim Cramer and Ken Fisher Love These 5 Stocks

2. Amazon.com Inc (NASDAQ:AMZN)

Ken Fisher’s Stake: $7,678,116,830

Jim Cramer simply loved Amazon.com Inc’s (NASDAQ:AMZN) latest quarter in which Amazon.com Inc (NASDAQ:AMZN) threw it out of the park with its AWS business, in addition to other segments. Cramer thinks it was 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.

Ken Fisher’s fund, as of the end of 2023, owns a $7 billion stake in Amazon.com Inc (NASDAQ:AMZN).

Ithaka US Growth Strategy stated the following regarding Amazon.com, Inc. (NASDAQ:AMZN) in its first quarter 2024 investor letter:

“Founded in 1994, Amazon.com, Inc. (NASDAQ:AMZN) has evolved from its early roots as an online bookstore to become one of the world’s largest eCommerce retailers. At the end of 2022 Amazon stood poised to capture ~40% of all US e-commerce sales, representing five times more share than the next closest competitor. In addition to eCommerce, Amazon Web Services (“AWS”) has become the market leader in outsourced cloud infrastructure. Further, Amazon Advertising is garnering significant share in digital advertising, particularly product placement ads, thanks to consumers beginning their product searches on Amazon’s site. Amazon’s stock appreciated on the back of stabilization of the company’s cloud computing segment and increased confidence the company would be able to contain expenses and push operating margins above prior peaks in the near-to-medium term.”