Jim Cramer on CNBC: Buy Amazon as shares rise 7%
Business
Jim Cramer on CNBC thinks Amazon stock is worth picking up. He points out that as data center construction slows down, big cloud players like Amazon actually benefit.
Since the midterm elections, Amazon shares have climbed 7%, including a boost today.
Cloud giants gain as semiconductors slump
This data center slowdown hasn't been great for everyone. Cloud giants like Amazon, Microsoft, and Alphabet are up, but semiconductor and neocloud stocks (like Micron and Sandisk) have taken big hits.
Cramer also highlights that Amazon's massive data center network gives it an edge over smaller rivals who rely more on constant growth.