The latest quarters of the Magnificent Seven have been ranked by Cramer.

• Nvidia and Amazon received high praise from CNBC's Jim Cramer in his analysis of earnings from the Magnificent Seven tech stocks.
• He cautioned investors against judging a company solely on its performance in one quarter.

CNBC's Jim Cramer evaluated the latest reports from the Magnificent Seven mega caps during the first earnings season of 2024, particularly commending the performance of and.

One quarter does not typically determine a company's future.

Cramer stated that a longer-term vision is necessary, lamenting that make or break was the only focus during earnings season.

He praised Nvidia for its record revenue increase of 265%, driven by the continued demand for its AI products. He also referred to Amazon as the ultimate summary, with a thriving advertising business and expanding web services sector.

Cramer awarded a "summa" for advertising capabilities and praised WhatsApp business, but gave a "magna" for cloud business, while Co-Pilot received mixed reviews.

Cramer did not receive "high honors," but Wall Street was too tough on the stock, stressing the unique nature of its products like the new Vision Pro. He was mixed on , celebrating its cloud business, but noting that its advertising sector wasn't up to par with competitors. And Cramer earned a "gentleman's C," uncertain about how this year will shape up for the company.

"The seven companies performed exceptionally well, with some of them receiving top grades in their oral presentations, earning what can only be described as 'summas,'" he said.

Join the CNBC Investing Club to receive updates on Jim Cramer's market moves.

The CNBC Investing Club Charitable Trust owns stakes in Nvidia, Apple, Amazon, Meta, Microsoft, and Alphabet.