Jim Cramer’s Bold Predictions About These 10 Tech Stocks

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

Number of Hedge Fund Holders In Q3 2024: 286

Date of Cramer’s Comments: 09-04-24

Performance Since Then: 33.4%

Amazon.com, Inc. (NASDAQ:AMZN) is the world’s largest eCommerce company. The firm also has a sizable presence in the cloud computing industry. Its dual moat, through exposure to the high volume eCommerce and the high margin cloud business, helps the stock during turmoil. The stability surrounding Amazon.com, Inc. (NASDAQ:AMZN)’s shares was clear on Monday when its shares actually closed 1% higher during the DeepSeek selloff. Since Cramer’s remarks, the shares have gained 33.4% as they have benefited from events such as a whopping 52% EPS growth in November. Here’s what Cramer had said in September:

“Stocks can’t stabilize until these weak shareholders sell out. History shows that significant market drops like this tend to offer great buying opportunities. On April 29th, 2022, Amazon lost $126 billion in market cap. Since then, it has rallied over 39%, beating the S&P, which is up 33% in the same timeframe.”

AMZN is a stock Jim Cramer talked about in September. 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.

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