'I Still Believe in the Amazon World Domination Theory,' Jim Cramer Says
Amazon (AMZN) - Get Report is still the ruler.
TheStreet's founder and Action Alerts PLUS portfolio manager Jim Cramer thinks Amazon is a long-term buy. The company releases earnings for its latest quarter on Thursday.
Others on Wall Street agree.
KeyBanc analysts said Monday that a "tentative consumer" and a competitive web services landscape aren't threats to Amazon.
KeyBanc said conversations with partners suggest Amazon Web Services growth could "reaccelerate" in the second quarter following a sluggish first quarter. Revenue could jump over 10% sequentially to $4 billion. Although competition with Microsoft Corp. (MSFT) - Get Report and Alphabet's (GOOGL) - Get Report Google has increased, it does not appear to derail Amazon's cloud growth prospects.
Amazon's recent moves in retail, including its proposed acquisition of Whole Foods Market (WFM) , Prime Wardrobe release and deal with Sears (SHLD) to sell Kenmore appliances, position it well for long-term growth. Even in a "difficult retail environment," Amazon's retail business will grow 15% year over year, KeyBanc wrote.
Alphabet is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells GOOGL? Learn more now.
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