10 Best Stocks to Buy According to Billionaire Ken Fisher

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5. Amazon.com Inc. (NASDAQ:AMZN)

Total Number of Shares Owned: 43,780,397

Total Value of Shares Owned: $8,460,561,806

Number of Hedge Fund Investors: 308

Amazon.com Inc. (NASDAQ:AMZN), a global leader in e-commerce and cloud computing, continues to transform consumer shopping and data management with significant investments in artificial intelligence and machine learning. These innovations not only enhance Amazon’s existing services but also open new revenue streams, aligning with the rising demand for AI across industries.

Amazon.com Inc. (NASDAQ:AMZN)’s expansion into the healthcare and grocery sectors further diversifies its revenue, leveraging its logistics and technology strengths. By increasing its presence in pharmacy services and expanding grocery delivery options, Amazon is poised for substantial growth. Additionally, Amazon’s commitment to sustainability and reducing its carbon footprint resonates with eco-conscious consumers, enhancing brand loyalty and driving sales.

In Q3 2024, Amazon.com Inc. (NASDAQ:AMZN) exceeded market expectations with an EPS of $1.43, beating estimates by $0.29, and reported revenue of $158.88 billion, surpassing projections by $1.59 billion. Looking forward to its Q4 earnings announcement on January 31, 2025, analysts anticipate a normalized EPS of $1.46 and revenue of $187.04 billion. With 28 upward EPS revisions in the past 90 days, investor confidence remains high in Amazon.com Inc. (NASDAQ:AMZN)’s continued strong performance and expansive growth potential.

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