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Cramer Likes Amazon's Valuation Amid Company Spending Cycle

Jim Cramer is a little uneasy with Amazon (AMZN - Get Report) stock but takes solace in a report by a notable analyst who maintains that the e-commerce giant is undervalued.

"I'm struggling with Amazon right now because I think they're in a spending cycle right now," Cramer said, "meaning they are not necessarily going to show the earnings growth that you might want."

Amazon's stock closed at $625.89 Friday. The company has yet to report its...