Jim Cramer Believes Amazon Needs to See AWS "Grow From High Teens to the Low Twenties"

Amazon.com, Inc. (NASDAQ:AMZN) is one of the stocks in focus in the game plan Jim Cramer shared. Cramer explained why it is a “controversial” stock and said:

“After the close, we hear from two controversial stocks for different reasons, Apple and Amazon. They could not be in more different shapes right now. Right now, Amazon’s Web Services business, once the jewel in its crown, has become an albatross around the company’s neck. I think it’s incorrect, but that’s what the Street is saying. The stock, which has been the least of the… Magnificent 7 needs to see Amazon Web Services grow from high teens to the low twenties or else, well, we’re not going to have a rally.”

Amazon.com, Inc. (NASDAQ:AMZN) operates online and physical retail stores, provides digital subscriptions, and offers cloud computing, storage, and AI solutions. It develops electronic devices and produces media content, and delivers advertising and membership services. Cramer mentioned the company during the October 20 episode and commented:

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