Jim Cramer Says “Hang On To Stocks” and Recommends 5 Stocks

2. Amazon.com Inc (NASDAQ:AMZN)

Number of Hedge Fund Investors: 293

Jim Cramer loved Amazon.com Inc’s (NASDAQ:AMZN) latest quarter, which he called an “absolutely tremendous, lights-out” quarter. Cramer highlighted Amazon.com Inc’s (NASDAQ:AMZN) strengths in AWS, advertisement and international business.

“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.

Jim Cramer advised investors to read Amazon.com Inc’s (NASDAQ:AMZN) earnings release:

“You will be blown away,” Cramer added.

Patient Capital Opportunity Equity Strategy stated the following regarding Meta Platforms, Inc. (NASDAQ:META) in its first quarter 2024 investor letter:

“Meta Platforms, Inc. (NASDAQ:META) was a top contributor in the first quarter gaining another 37.5%. Performance has been supported by strong top and bottom-line growth as the company maintains its leadership in the advertising space, despite Reels still being under monetized versus Newsfeed and Stories. The company continues to return cash to shareholders, increasing their buyback program by another $50B in February (6.4% of shares outstanding), and announcing their first dividend of $0.50 per share (0.39% yield). The company trades at 25x this year’s earnings, which we do not view as too demanding for a company with some of the best AI assets, an improving topline that should lead to free cash flow outperformance and continued capital return.”