Jim Cramer: Amazon and Apple Have Managed to 'Reinvent Life'

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Amazon reported earnings after the bell Thursday.

Amazon reported that net income for the three months ending in December rose 8% to $3.3 billion, while sales surged 21%. Costs linked to the plan, however, came in under Amazon's $1.5 billion estimate -- at $12.39 billion -- helping profit margins and efficiency.

Amazon also said it sees current quarter operating income of between $3 billion and $4.2 billion, adding that one-day shipping costs will continue to affect its bottom line over the three months ending in March. 

"What we saw was essentially very strong holiday performance from the middle of November on," Amazon CFO Brian Olsavsky said on a conference call late Thursday following the earnings release. "We also had a very big uptick and response to the one-day availability that's been building through the year. I think Prime has been very strong too."

So is one-day Amazon's iPhone moment? 


"We have a Whole Foods that's 20 minutes from us and that's not even one day. They dropped the $14.95 to have that service, that's going now. They give it for free for Prime--which has 150 million subscribers. Prime is the great bargain of our era. The Apple iPhone reinvented life and I think same-day reinvented life. It's really hard to justify going to the supermarket," said Cramer.

Watch the video above for more.

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