Cramer Praises Amazon CEO as Shares Hold $265 Record Post-Q1 AWS Surge

Amazon stock maintained its $265 all-time high momentum into May 2, with Jim Cramer lauding CEO Andy Jassy after blockbuster Q1 results on April 30 showed AWS revenue accelerating 28% YoY to $37.6B and cloud backlog ballooning to $364B from $244B end-2025. The 27% one-month rally, making AMZN the top Magnificent Seven performer YTD, built on pre-earnings hype from Anthropic's $100B 10-year AWS commitment, Meta's Graviton5 adoption across tens of millions of cores, $15B AI run-rate, and $20B custom chips revenue—validating the $200B 2026 capex plan. Analysts raised targets to $275+ despite capex and FCF risks.