As the first earnings season of 2024 comes to a close, Jim Cramer has given his assessment of the latest financial reports from the Magnificent Seven mega-cap companies, with NVIDIA Corp (NASDAQ:NVDA) and Amazon.com Inc (NASDAQ:AMZN) receiving special recognition.
What Happened: On Wednesday, Cramer commended Nvidia for its record revenue, which saw a 265% increase due to high demand for its AI products. He also lauded Amazon for its growing advertising and web services sector, reported CNBC.
“To me, a longer-term vision is what’s required,” Cramer said.
“Too bad make or break is all that we ever heard during earnings season.”
Nvidia was the first to receive praise from Cramer for its record revenue, which soared by 265% due to sustained high demand for its artificial intelligence products. Cramer then lauded Amazon as the “most definitive summa of all,” highlighting its thriving advertising business and expanding web services sector.
The CNBC host also praised Meta Platforms Inc. (NASDAQ:META) for its robust advertising and WhatsApp business, and Microsoft Corporation (NASDAQ:MSFT) for its strong cloud business. However, he remarked that Microsoft’s …
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