CNBC’s Jim Cramer on Thursday commended Amazon’s (AMZN) recent efforts to improve profitability.
's recent efforts to improve profitability, which have helped shares of the e-commerce and cloud-computing giant ascend more than 70% so far this year.
Cramer's comments on"Squawk on the Street" came in response to a research note from Morgan Stanley, which argued Amazon's stock could see additional upside between 20% and 60% in the coming years if its North American retail business continues to become more profitable. "This is a note which is basically saying that management has figured out how to make a lot of money again ... on retail," said Cramer, whose Charitable Trust, the portfolio used by the CNBC Investing Club, owns Amazon."It's a justification of the move more than it is, I think, another reason to buy it because it's been up a huge amount," Cramer added.Amazon's stock closed at its highest levels of the year Wednesday, at $144.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Here are the 15 stocks Jim Cramer is watching, including Amazon, Nvidia, ArmHere are some of the tickers on my radar for Thursday, Sept. 14, taken directly from my reporter’s notebook.
Read more »
Jim Cramer says this software stock is a buy here after earnings-driven declineThe Investing Club holds its Morning Meeting every weekday at 10:20 a.m. ET.
Read more »
Jim Cramer's top things to watch in the stock market WednesdayEquities edge down Wednesday morning, as the Labor Department's monthly consumer price index shows inflation increased more than expected last month.
Read more »
Here's why Jim Cramer says wait to buy this AI software winnerCNBC’s Jim Cramer sees a difficult setup for Adobe (ADBE) into the software maker’s earnings report, due to mounting optimism and impressive 2023 stock gains.
Read more »
Jim Cramer says 'watch Ford as a barometer' of potential United Auto Workers strike riskFord Motor's (F) stock may offer clues into Wall Street's current attitude toward potential strikes by the United Auto Workers union, CNBC's Jim Cramer said.
Read more »
Supply Chain by Amazon sounds like Amazon Prime for manufacturersAmazon is expanding its logistics operations.
Read more »