Given the Black Friday and Cyber Monday shopping spree, it's no surprise to see Amazon (AMZN) stock price hovering just below the 52-week and all-time high of $1,213.41 set in Monday's session. On Tuesday, shares are near flat.
That's despite the news that Cyber Monday was a new record and with a price target boost to $1,450 on Amazon by Goldman Sachs. This is a "very common sense" report from Goldman, TheStreet's Jim Cramer said on CNBC's "Mad Dash" segment Tuesday.
The report comes amid the Amazon Web Services re:Invent 2017 conference in Las Vegas this week. Investors will get to hear from Amazon Web Services CEO Andy Jassy, Cramer noted.
Jassy is a "genius" who continues to bring a lot of new technologies and innovation to the AWS platform, he added. Jassy is also doing a CNBC interview on Wednesday, and Cramer wants to know a few things. Is AWS losing business to Microsoft's (MSFT) Azure platform? Even though revenue and profit are growing handsomely, the No. 2 competitor could be taking market share, too.
Second, AWS appears to be increasing prices at a time where Cramer thought it was lowering prices. He wants to know, what does that say about the current market environment?
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While this business does get plenty of recognition -- as it should -- it's sort of behind the scenes given how much attention Amazon's main retailing business gets, particularly after its Whole Foods acquisition. Oddly enough, though, many of the retailers that are suffering at the hands of Amazon are actually AWS customers, Cramer said.
Another analyst previously made the case that AWS could be worth $250 billion, Cramer pointed out. The stock's been going up over the past few days on holiday sales, but recognition of this outstanding AWS business means that Amazon's stock is "not done" going higher, he concluded.
Amazon closed at $1,193.60, down 0.19% Tuesday.
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