With over $5 billion in cash on its books, Amazon currently trades at a whopping 110 times earnings. That may sound wildly expensive, noted Cramer, but fund managers look at the "out years," like 2015, where Amazon is expected to trade for a more reasonable 35 times earnings. This makes the stock not so expensive given its 36% growth rate.
Google is in a similar position. It dominates online search, commanding a 66% market share in the U.S. The company is a major in mobile with its Android operating system and it has a mobile and social strategy, as well as YouTube and other opportunities.
Given that online advertising still represents only 10% of all advertising, Google clearly has lots of growth ahead of it. Google trades at only 11 times its expected 2015 earnings of $67 a share.
Here's what Cramer had to say about callers' stocks during the "Lightning Round":Equinix (EQIX): "That's a cloud play that I don't expect to come down at all before the end of the year." Cliffs Natural Resources (CLF): "No. If it goes up tomorrow, I want you to ring the register." EOG Resources (EOG): "I think that EOG goes to $150." Hospira (HSP): "I like this one. I also like Covidien (COV)." NovaGold Resources (NG): "I prefer the SPDR Gold Shares (GLD) if you want to earn gold." Computer Sciences (CSC): "I worry about them. I don't like the fundamentals." Questcor Pharmaceuticals (QCOR): "No, they blew it." OraSure Technologies (OSUR): "Everyone is selling it, but I like it. I think it's cheap." Diageo (DEO): "If that stock comes down even $1, I like it. " Express Scripts (ESRX): "When this stock comes in I want you to pull the trigger." Johnson & Johnson (JNJ): "I think they have a great balance sheet and new management."