Jim Cramer Says Amazon “May Actually Be Reaching a Bottom”

Amazon.com, Inc. (NASDAQ:AMZN) is one of the stocks Jim Cramer was focused on recently. Cramer made bullish comments about the stock during the episode. He remarked:

“Amazon, despite this painful Web Services outage today, may actually be reaching a bottom. And that’s what it means when your stock goes up on bad news like Amazon did today.”

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Amazon.com, Inc. (NASDAQ:AMZN) sells consumer products and digital content and provides advertising, subscription, and cloud computing services. The company also produces electronics and develops media content. Cramer mentioned the stock during the September 8 episode and commented:

“Now, we had another one, Amazon. A few weeks ago, this stock was plummeting. Why? Because we heard that Amazon Web Services was falling behind Microsoft’s Azure, something that actually we picked up loud and clear on the show from Snowflake’s explosive conference call. It didn’t help when a Morgan Stanley analyst asked Amazon CEO Andy Jassy if he was worried about falling behind, and Andy didn’t say, ‘We are spending and getting a great return on our spending, whether it’s on our Trainium chips or NVIDIA chips.’ He didn’t say that. The Street was quick to hammer the stock because he didn’t say that.

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Disclosure: None. This article is originally published at Insider Monkey.

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