Jim Cramer: 'I like that Amazon's never done trying to make you money'

Core Viewpoint - Amazon's stock has underperformed compared to the S&P 500 since July 2021, with a 29.5% increase versus the S&P's doubling performance, leading to discussions about its long-term potential and management decisions [2][3][5] Company Performance - Amazon's stock has only increased by about 30% since Andy Jassy became CEO, which is viewed as underperformance [5] - The company has faced significant challenges during the pandemic but has managed to turn around its European operations, which were previously losing money [7] - Amazon Web Services (AWS) is currently growing at a rate of 17.5%, with expectations that it could approach 20% growth in the near future, which would positively impact the stock price [8] Management Decisions - Amazon is laying off 14,000 corporate workers to streamline operations and conserve cash, indicating a focus on improving shareholder value [8][9] - The company has been slow to rationalize its workforce but is now leveraging AI to enhance productivity among remaining employees [11][12] Competitive Landscape - AWS faces tough competition from Microsoft Azure and Google Cloud, which are seen as formidable rivals in the cloud services market [8] - Despite concerns about competition and regulatory scrutiny, Amazon is viewed as a resilient company capable of adapting and thriving in a competitive environment [20] Investment Strategy - The company remains a key holding in investment portfolios, with a belief that it will eventually align its stock performance with its long-term value proposition [20][24] - The importance of maintaining positions in companies like Amazon, despite short-term underperformance, is emphasized as a strategic investment approach [24]