As swaths of the technology sector wither in response to Facebook's stock weakness, CNBC's Jim Cramer applauded one member of FANG, his acronym for Facebook, Amazon, Netflix and Google, now Alphabet, for holding up.
"Amazon is a juggernaut," the "Mad Money" host said on Wednesday. "This company is the ultimate disruptor in retail, Prime is one of the greatest bargains in history and it gives them a nice recurring revenue stream. And, of course, Amazon Web Services, the biggest player in the cloud, [is] red hot.
"The latest quarter here was a thing of beauty," he added.
While Amazon's second-quarter earnings report missed analysts' revenue expectations, the e-commerce giant more than doubled Wall Street's earnings per share estimates.
"I've long told you that Amazon could turn on the spigot and make itself much more profitable whenever it wants; that gigantic earnings beat? ... Well, that proves it," Cramer said. "I think any pullback – buy it."