Amazon stock closed at a record high Tuesday after the Department of Defense announced it would scrap the hotly-contested JEDI contract. The Pentagon is replacing JEDI with the Joint Warfighter Cloud Capability (JWCC) project and opening up the contract to multiple potential vendors including Amazon, Microsoft and other leaders in the cloud space.
"Shares of Amazon are up 15% over just the past month and Jim Cramer said the momentum remains strong. Investors can also consider names like Apple, another Action Alerts PLUS holding that ended up 1.4% by the close, Scott Rutt noted in his Mad Money Recap.
Recap TheStreet Live: Everything Jim Cramer Is Watching 7/7/21