Cramer's Morning Take: Inflations Cools & Amazon Stock 4/13/2023

Jim Cramer (0:02)

I'm Jim Cramer, and you're about to hear a sample taken directly from today's CNBC Investing Club morning meeting.

We usually don't start and then dominate with the macro, meaning all these kind of bigger numbers, but we got slower numbers today in labor, slower numbers today in PPI, and this is proving what I think, Jeff, which is that we are having a slowdown. And I think the people who are still saying, hey, listen, the expansions intact are worsening past the graveyard. I don't think the slowdown means recession, but we're having a slowdown.

Jeff Marks (0:34)

Sure, and of course this comes after a cooler than expected CPI report from yesterday. We'll get retail sales coming up soon. That will be another good sign of whether or not to slow down. But Fed Minutes, we do have the Fed a little bit more cautious now, projecting perhaps we do get a mild recession later this year.

Jim Cramer (0:52)

That's the staff that's important, but remember what happens when we get this and why we're focused on it.

All this means that you buy the NASDAQ. A slowdown with lower inflation means buy NASDAQ. We cannot overthink this. When we overthink it, we miss big moves for our people.

Jeff Marks (1:09)

Yeah, it's the same type of bifurcation that we just saw last week as well. Some industrial names lagging, but tech, especially the mega cap tech names, are really shining today.

Jim Cramer (1:20)

Now, I listened to Andrew Ross working at his usual job interviewing Andrew Jassy, but I came away hoping that he would talk about how he's going to let people go and rationalize the workforce. He did not give us that, at all. He was asked about the stock price. He said, look at it, he did that long-term weighing machine thing from Warren Buffett. That's a kind of Warren Buffett.

Jeff Marks (1:40)

We're talking Amazon here.

Jim Cramer (1:41)

Amazon. But the stock's been cut in half. We've experienced the cut in half.

First, we bought it at a good basis, but I'm still in a what have we done lately because you are what have we done lately and I'm not letting you down. Amazon's not where I want it to be. He has to get efficient. This is a stock that's not, this is a company that's not efficient.

Jeff Marks (1:56)

You can see here over a three-year period, it has not performed well. A lot of it was because they got hit very hard by inflation over the last couple of years. They over expanded their warehouses. So Jim, the question is, of course, why still own it?

And because there's still a lot of things that can go right here, whether it's increasing efficiency, you know, building, you know, growing into those overbuilt warehouses. They did lay off 27,000 people, some high-paying jobs, high-paying jobs that will matter.

Jim Cramer (2:30)

Start your day with my outlook on the daily market every morning at 10, 20 a.m. Visit cnbc.com/morningtake to access all the benefits of being a CNBC Investing Club member.

Jeff Marks (2:42)

Remember.