That means in the end one is an upgrade or a reiterate with a much higher price target and, the other? It's a soft downgrade.
Worse, if you own Alphabet, there is a sense that it doesn't matter. The company says it is doing well, so you better believe it.
That's OK when you are Amazon and you can say ads, services and retail are all good, because it's pretty self-evident. But you can't even figure what Alphabet wants to really be, other than a search company, which isn't enough.
So in the end it seems to be happy to be in the playoffs, while Amazon wants to win the Super Bowl.
And how about the other Action Alerts PLUS charity portfolio holding, Apple (AAPL) - Get Report ? It's the underdog; it has a price to earnings multiple that is well under all of the others, meaning the others in the consumer packaged good business.
So, it is hard to get hit even after we get a long-awaited downgrade from chief Apple bear Tony Sacconaghi of Bernstein.
Takeaways: Alphabet will do nothing much; Apple will shade up, and Amazon is going to $1,600.
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Action Alerts PLUS, which Cramer co-manages as a charitable trust, is long AAPL and GOOGL.