When Amazon crossed the $1,000 mark on May 31, TV host Jim Cramer was quick to throw out what he called a "red flag."
Frankly, I think he was waving a white one…
Here's why I say that. The host of CNBC's "Mad Money" mostly looked at the price of the stock. He said that "psychologically" $1,000 is a lot to pay for a stock he feels is getting ahead of itself.
That brought him around to saying that other big tech leaders are riding a secular trend that could lose steam, hurting investors along the way.
I believe Cramer's analysis is way off the mark for a couple reasons. First, Amazon still has a long runway in both retail and its cloud sales, where it remains the dominant firm.
Second, and more to the point, I actually predicted back on Oct. 30, 2013, that Amazon would hit this milestone. I said it would be among the "next" members of tech's "Thousand-Dollar Club."
So, today I'll show you why my forecast was on the money for all the stocks I put in that group.