CNBC’s Jim Cramer said he’s bullish on Amazon after the company released one of the two best earnings reports he’s ever seen. “Amazon will go to $300, but it’s not going to stop there,” Cramer said on “Squawk on the Street” Thursday, a day after a strong quarter. “All analysts have targets in excess of $300.” Amazon delivered a strong profit, reporting earnings of $2.78 per share and revenue of $181.52 billion. The company’s cloud division, Amazon Web Services, also beat expectations, bringing in $37.59 billion. For Cramer, the most important driver was AWS, with growth accelerating to 28%. This is a sudden re-acceleration that highlights the surge in demand related to artificial intelligence. Amazon shares started the day almost flat, but fell on profit taking. This isn’t surprising, given that the stock closed at an all-time high of nearly $264 last week. Jim sees Thursday’s decline as a buying opportunity. AMZN YTD Mountain Amazon YTD “They’re making a lot of money right now with Amazon Web Services. They’re making a lot of money,” Kramer said, pointing to Amazon’s expanding push into custom AI chips. Amazon CEO Andy Jassy said on an earnings call that the company currently has more than $225 billion in revenue commitments related to its latest generation of Trainium silicon. “Our Trainium2 chips offer approximately 30% better price performance than comparable GPUs and are mostly sold out,” said Jassy. “Trainium3 just started shipping in early 2026, offers 30-40% better price/performance than Trainium2, and is almost fully registered.” AWS also secured key partnerships with OpenAI and Anthropic for compute capacity, further incorporating Amazon into its rapidly expanding AI infrastructure buildout. Kramer said the results, taken together, highlight how powerful Amazon’s revenue engine is as it expands its cloud and AI businesses. “They delivered,” he said. “I couldn’t believe how much money they were making.” Alphabet, Microsoft and Meta Platforms also reported earnings Wednesday night. Companies have raised their spending forecasts to keep up with the AI race. All four companies, including Amazon, are included in the Investing Club’s portfolio.
