Cramer Touts Big Tech as Defensive Plays Amid Market Volatility, Sees Upside for Nvidia and Amazon

Recent volatility in stock markets has put pressure on stocks, with rising bond yields particularly impacting markets.

Jim Cramer sees the 7 largest S&P stocks as defensive plays in this environment.

Nvidia is benefiting from high demand for its AI and data center chips, with revenue and earnings beating forecasts.

Amazon has diversified business units insulating it from shocks, with strong Q2 results driven by cloud and ads.

Analysts see upside potential for both Nvidia and Amazon stocks based on their market positions and growth prospects.