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Why Amazon Is a 'Terrific Story' Longer-Term

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Amazon (AMZN) - Get Inc. Report is dominating headlines Thursday. 

Jeff Bezos, CEO of Amazon, released his annual investor letter.

Jeff Marks, senior portfolio analyst for Jim Cramer's Action Alerts Plus investing club, weighed in on Amazon and what both he and the portfolio are thinking about the company.

"Yeah, I thought it was a great letter by Jeff Bezos today. I mean, he hit the right points. He was humble where he needed to be, but he talked a lot about innovation and how what Amazon's trying to do right now is they're trying to create the products that you don't even know that you want yet. Perfect example that he referenced was the Echo, but at the same time that the humility came in because he talked about the failures of the Fire phone, which was a miss. So I'm all in," said Marks. "I just think Amazon is a terrific story. They're doing, again, like as [Bezos] said, they're doing what the customers want and that's why Amazon Web Services has been so successful as well. That's such a a profit engine for them. So I'm all in. It's just, it's a good story. It was a good story for them today. The stock's not really reacting to it, but longer term, [Action Alerts Plus] still liked that one a lot."

Related. Mickey Mouse Streaming Club Welcomes Analysts

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