10 Best Gig Economy Stocks To Buy

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

Number of Hedge Fund Holders: 308

Amazon.com, Inc. (NASDAQ:AMZN) is a big-tech e-commerce player. It entered the gig economy with the launch of Amazon Flex, an app that allows users to use their own vehicles to deliver Amazon packages to earn extra cash.

By investing in Amazon.com, Inc. (NASDAQ:AMZN), investors don’t just get to benefit from a classic gig economy player’s profitability since this company has a lot more going on. Its e-commerce business is among the biggest in the world and is the major driver of company revenues. In the second quarter, company revenue rose 10% year-over-year to $148 billion, and the biggest contributor to this was e-commerce sales.

The e-commerce business is really the heart of Amazon.com, Inc. (NASDAQ:AMZN) as a company. Through this segment, the company not only benefits itself, but also uplifts merchants selling on its platform – which in turn drives up profits for Amazon.com, Inc. (NASDAQ:AMZN) in the end. The second quarter also saw the e-commerce segment’s operating margin jump by 58% year-over-year to $5.1 billion, for instance. Most of the profits here come from online sales, but a huge chunk also comes from the fees charged to sellers on the Amazon platform.

Amazon.com, Inc. (NASDAQ:AMZN) is also well known for its cloud computing business, Amazon Web Services, which only makes it an even more lucrative player in the market for those looking to buy gig economy stocks that might be able to offer some extra profit generated from other lucrative business segments.

Holding a total stake value of $65.8 billion in the stock, 308 hedge funds were long Amazon.com, Inc. (NASDAQ:AMZN) in the second quarter.

While AMZN is an exceptional investment, we believe that AI stocks hold promise for delivering high returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than AMZN and which trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: $30 Trillion Opportunity: 15 Best Humanoid Robot Stocks to Buy According to Morgan Stanley and Jim Cramer Says NVIDIA ‘Has Become A Wasteland’.

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