Jim Cramer Discusses These 10 Stocks & An Outfit Better Than DeepSeek

Page 9 of 9

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

Number of Hedge Fund Holders In Q3 2024: 286

Amazon.com, Inc. (NASDAQ:AMZN) is a global eCommerce giant and a key player in the cloud computing industry. Like several other mega-cap tech stocks, its shares closed lower after fourth-quarter earnings on the back of weaker cloud computing revenue. Tech giants have spent billions of dollars on AI, and as Amazon.com, Inc. (NASDAQ:AMZN)’s cloud division posted $28.79 in cloud revenue to miss analyst estimates of $28.87, the stock dipped by 4%. Before the earnings, Cramer commented on how Amazon.com, Inc. (NASDAQ:AMZN) might talk about custom chips during the earnings:

“. . .we know that there are a lot of people who say that Amazon’s going to talk about more custom chips. Maybe that’s Broadcom. But Amazon, so far is not using AMD GPU. And that was what the customer they really needed and we don’t see it.”

AMZN is a stock Jim Cramer recently discussed. 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

Disclosure. None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and investors. Please subscribe to our daily free newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.

Page 9 of 9