Jim Cramer Discussed These 12 Stocks Amidst The DeepSeek AI Selloff

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

Number of Hedge Fund Holders In Q3 2024: 286

Amazon.com, Inc. (NASDAQ:AMZN) is one of the biggest eCommerce companies in the world. It also plays an important role in the cloud computing industry. Amazon.com, Inc. (NASDAQ:AMZN) is one of the leading players in the AI industry courtesy of its partnership with Anthropic which has provided it with access to the Claude AI model. The shares are up by 8.14% year-to-date, and they closed Monday flat by gaining 0.24%. Amazon.com, Inc. (NASDAQ:AMZN)’s narrative depends to a large extent on online sales. This was evident in August 2024 when the shares dipped by 12% after sales growth slowed down sequentially. As he did with Disney, Cramer wondered what role Amazon.com, Inc. (NASDAQ:AMZN) would play in an era of low AI costs:

“By the way, I question, what is Amazon’s role? Did Amazon, are they a winner or loser? They spend a lot with Anthropic, but so [do] others.”

AMZN is a stock Jim Cramer talked about as DeepSeek wreaked havoc on the stock market. While we acknowledge the potential of AMZN as an investment, our conviction lies in the belief that some 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 AMZN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

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