Amazon Gains 7% as Cramer Backs Stock on Data Center Slowdown
Updated
Updated · CNBC · Nov 9
Amazon Gains 7% as Cramer Backs Stock on Data Center Slowdown
3 articles · Updated · CNBC · Nov 9
Summary
Amazon shares have climbed 7% since last week’s election, and Jim Cramer said Monday the stock could still reach $300—about 10% above current levels.
A slower data-center buildout would favor incumbents such as Amazon and Microsoft, he argued, because they already run vast cloud networks and can better absorb new permitting or political hurdles.
That view has split the AI trade: Microsoft and Alphabet also rose, while expansion-dependent names sold off sharply, with Micron down 14.1%, Sandisk 21.2% and CoreWeave 8.9%.
The rotation helped the Nasdaq rebound 3.3% over Friday and Monday after Thursday’s 5.5% drop, as investors reassessed whether hyperscalers could benefit from lower AI capital-spending pressure and stronger cash flow.