Jim Cramer Dismisses Worries About Amazon.com, Inc. (AMZN)'s Prime Business That Sent Stock Lower

We recently published Jim Cramer Analyzed These 10 Stocks & Discussed Inflation. Amazon.com Inc. (NASDAQ:AMZN) is one of the stocks Jim Cramer recently discussed.

Amazon.com, Inc. (NASDAQ:AMZN)’s shares have lost 3.8% since the firm’s latest earnings report but have clawed back some of the immediate 9.6% drop. The primary concern that’s driven the stock lower is a slowdown in its AWS cloud computing business. Cramer’s previous comments about the firm have seen him shift his views from criticizing Amazon.com, Inc. (NASDAQ:AMZN) for relying on in-house Trainium chips instead of NVIDIA’s GPUs to admitting that the decision might have some merit. This time, he discussed a media report about the firm’s Prime business:

“[On a Reuters report saying Prime signups missed internal targets] I like Andy Jassy very much. And the one thing you would not know is what they really were looking for, internal targets. They, and anyway what we care about is how much is bought. I happen to like Amazon and it’s a big position for my charitable trust, there’s an example of where at a certain point, at a 30 multiple, kind of interesting, but the long knives are out for them because of the Amazon Web Services slowing versus Azure which was something that there is a belief among a lot of people that Azure is passing them. I don’t wanna bet against Andy, I just find that some plays are stupid.”

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