Amazon cannot catch a break. “Amazon has been horrible,” the worst of the Magnificent Seven shares this 12 months, CNBC’s Jim Cramer mentioned on ” Squawk on the Avenue .” Whereas modestly larger Monday, Amazon was again down round its post-earnings lows of early August, which have been pushed by considerations about Amazon Net Providers cloud progress. Shares have declined greater than 2% 12 months to 12 months. Cramer’s feedback got here on the again of Monday’s main AWS outage, which disrupted entry to a number of main web sites. The problem has been largely resolved, with most affected websites now again on-line. Whereas the outage grabbed the headlines, it additionally reminded traders of the broader considerations about AWS and the way Microsoft ‘s Azure and Alphabet ‘s Google Cloud grew quicker just lately. In its most up-to-date quarter, AWS income rose 17.5% 12 months over 12 months, trailing Azure’s 39% acquire and Google Cloud’s 32% advance. That has fueled the narrative that Amazon’s cloud dominance is slipping — a notion the corporate is raring to alter, given AWS stays the revenue engine of its sprawling enterprise. Cramer mentioned he’s “in favor of Amazon Net Providers,” including its progress price ought to “go from 18% to 19% to 21%, 22%.” Although, he did acknowledge that Monday’s outage might get in the best way of that progress story. Nevertheless, Cramer mentioned, “If Amazon inventory snaps again at this time [Monday] it might be an indication that the lengthy, horrible slide could possibly be working to its conclusion.” Amazon is a holding within the CNBC Investing Membership portfolio. AMZN YTD mountain Amazon YTD