Jim Cramer Notes Amazon's "Web Division is Doing Amazing"

Amazon.com, Inc. (NASDAQ:AMZN) is one of the stocks that Jim Cramer recently shed light on. Cramer mentioned the company during the episode and said:

“There truly is a tremendous concentration of capital tied up in a handful of companies, but there’s so much fear mongering about this phenomenon that it’s almost guaranteed to lead you in the wrong direction. 12 years ago, I helped coin a term called FANG, Facebook, Amazon, Netflix, Google, because these companies were changing the world. Their spectacular growth prospects made them incredible investments… You had to hold onto these for dear life. Their impact on our lives was palpable. And of course, they’re worth far more now than they were selling for 12 years ago. There was a concentration then, there’s a concentration now. It’s not fatal, it’s lucrative. At the time, though, I took a lot of heat about my selection… Ladies and gentlemen, we’ve now had more than 12 years of concentration, a dozen years. All along, it’s been the same stocks… Amazon’s the largest retailer in the world. Its web division is doing amazing, phenomenal.”

Amazon.com, Inc. (NASDAQ:AMZN) operates a global retail platform. It provides consumer goods, digital media, and devices, alongside services for third-party sellers, creators, and advertisers. Additionally, the company offers cloud computing through AWS and subscription services like Amazon Prime.

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