Amazon.com, Inc. (AMZN) Is "An Overall Piece," Says Jim Cramer

We recently published 12 Stocks Jim Cramer Talked About. Amazon.com, Inc. (NASDAQ:AMZN) is one of the stocks Jim Cramer recently discussed.

Amazon.com, Inc. (NASDAQ:AMZN) is one of the most important retailers and cloud computing companies in America. While Cramer has focused on its Alexa platform earlier, more recently, he has started discussing the firm’s Prime Day sales and its efforts to offer discounts. This time, he discussed a Wall Street Journal article, which also commented on Amazon.com, Inc. (NASDAQ:AMZN)’s prices since President Trump introduced his tariffs in April:

“[On WSJ piece saying they’ll keep prices low but raising them instead]Look I think that Amazon is an overall piece and I don’t know how much that includes Prime, where the prices were incredibly low. Amazon’s assured me that that story, didn’t say it’s this story exactly, but anybody who thinks that the prices are up, will take a look at Prime and think that’s not true.”

Previously, Cramer discussed Amazon.com, Inc. (NASDAQ:AMZN)’s share price movement:

“We’re going to start with the daily chart of Amazon, which is Lang’s (Bob Lang, founder of explosiveoptions.net and the author of Know Your Options) favorite right now after its remarkable run over the past couple of months. Even after this move, Amazon’s trading at $222 and change, down about 20 bucks from its all-time highs…

Lang also points out that volume trends have been bullish with Amazon, often rallying on very high volume, which indicates that big institutional money managers keep loading up on this one. Finally, let’s not forget that Prime Day’s in full swing, although this year it’s four days and… not just two… I want to explain this for a second. There’s a lot of chatter this very evening that so far, Wall Street will be disappointed with the numbers from Prime and… that would obviate a lot of stuff we see. I beg to differ. I think because we’re on day two, and there’s four days, you cannot make a judgment yet.

I’m willing to go with Lang’s judgment on the chart more than the so-called chatter about how Prime’s doing in this sacred four days of buying. As Lang sees it, Amazon’s worth buying here, and he’d recommend [it] even on a pullback because he could see this stock at $222 going, I know this sounds like hyperbole, but to $260 or $270 by the end of the year. As for me, I wouldn’t bet against it. The Charitable Trust has a very big position, and I do believe that it can go higher, I don’t know, 260, 270.”

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