Shortly after the opening bell, we’ll be buying 75 shares of Amazon at roughly $168. Following Monday’s trade, Jim Cramer’s Charitable Trust will own 750 shares of Amazon, increasing its weighting to roughly 3.9% from 3.54%. Now that we are no longer restricted, we can finally add to our Amazon position. We’ve been eyeing this buy since Aug. 2 after the stock fell roughly 10% in reaction to a second – quarter earnings report . The quarter was not clean as the revenue surge in the highly profitable Amazon Web Services cloud unit could not offset the softer sales in its online retail and related businesses. The lower-than-expected third-quarter guide did not ease concerns about a consumer spending slowdown. Management attributed some of the weakness to consumers focusing on major news events like the assassination attempt of Donald Trump and the Olympics. AMZN YTD mountain Amazon YTD No analysts downgraded Amazon after earnings, but the quarter was not universally defended. Morgan Stanley lowered its price target to $210 and removed it as a Top Pick last week. The analysts cut their 2025 operating income outlook by 12% due to margin pressure from an increasing mix shift to lower average selling prices in retail and slowing advertising revenues cost to serve benefits. Morgan Stanley maintained its buy-equivalent overweight rating and said the stock’s current valuation “is not demanding.” However, the analysts added that the company “needs to demonstrate an ability to deliver growth and profitability.” The margin improvement story may have lost a step last quarter, but we don’t think it’s over. Even in the softer quarter, the company lowered its cost to serve in North America on the retail side and reiterated that there are more gains to be had by further building out its same-day delivery network, regionalizing its inbound network, and expanding the use of automation and robotics. Let’s not forget the 1,128 basis point margin growth at Amazon Web Services. This is not getting enough attention. AWS is the real profit engine at the company — and if revenue growth sustains at these levels thanks to enterprise spend on modernizing their infrastructure and artificial intelligence, then this business is going to make a lot of money in the years ahead. (Jim Cramer’s Charitable Trust is long AMZN. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.