10 Best Big Data Stocks To Buy Now

04. Amazon.com, Inc. (NASDAQ:AMZN)

Average Analyst Share Price Target Upside: 25.21%

Average Analyst Share Price Target: $221.69 

Amazon.com, Inc. (NASDAQ:AMZN) uses big data via Amazon Web Services (AWS) to manage and analyze large datasets, supporting efficient data storage, processing, and insights. It also leverages this data to optimize e-commerce operations, including inventory management, personalized recommendations, and logistics, reinforcing its leadership in cloud services and market competitiveness. Amazon.com, Inc. (NASDAQ:AMZN) has an average analyst share price target of $221.69, indicating a potential upside of 25.21%. Amazon.com, Inc. (NASDAQ:AMZN) leads in cloud computing with AWS growing 19% recently, despite competition from Microsoft Corporation (NASDAQ:MSFT). It dominates e-commerce through Prime, driving increased sales and faster shipping. Amazon.com, Inc. (NASDAQ:AMZN) is also a major player in digital advertising, exceeding a $50 billion annual run rate with a 20% growth. The company has generated $53 billion in free cash flow over the past year and remains attractive at its current share price due to strong cash flow yields.

Diamond Hill Select Strategy stated the following regarding Amazon.com, Inc. (NASDAQ:AMZN) in its Q2 2024 investor letter:

“Among our top individual contributors in Q2 were Amazon.com, Inc. (NASDAQ:AMZN), Texas Instruments and Mr. Cooper Group. Internet retail and cloud infrastructure company Amazon is benefiting from strong profitability, particularly in its Amazon Web Services (AWS) business. Shares also received a boost amid growing optimism around the demand for AWS as Amazon customers’ investments in generative AI projects continue growing.”