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Jim Cramer Says Amazon Wants to Take Over The World

TheStreet's Jim Cramer said everyone is freaking out about Amazon but at the end of the day, the online retail giant is spending so it can take over the world.

TheStreet’s Action Alerts PLUS Portfolio Manager Jim Cramer said about Amazon’s (AMZN) fourth quarter, which fell short of earnings estimates: ‘Everyone is freaking about Amazon and that’s because Amazon has decided once again that it wants to reignite spending in order to take over the world,’ Cramer said. The Seattle-based company posted fourth quarter earnings of $1 a share, missing estimates of $1.56 a share. However, quarterly profit was the biggest in its history. ‘If you go through their conference call, the only time they really talk about what’s going on is when they mention their video releases,’ Cramer said. ‘This is one of those periods where after being transparent for a couple of quarters, they are back to being opaque.’ Amazon is part of the FANG acronym, which includes Facebook (FB), Netflix (NFLX) and Alphabet’s Google (GOOGL). He said the fastest growers in FANG are Amazon and Netflix. Cramer said investors who like Amazon and its products should stay long in the stock.

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