10 Best Stocks to Buy According to Billionaire Ray Dalio

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

Total Number of Shares Owned: 2,645,567

Total Value of Shares Owned: $511,255,823

Number of Hedge Fund Investors: 308

Amazon.com, Inc. (NASDAQ:AMZN) has a bright outlook, supported by strong financial results and smart strategies for growth. In Q2 2024, Amazon.com, Inc. (NASDAQ:AMZN) reported revenues of $144.5 billion, a 12% increase from the previous year, with net income reaching $7.9 billion. This growth came from solid performances in both e-commerce and Amazon Web Services (AWS), which generated $26.4 billion in revenue, up 15%, showing its strength in the cloud computing market.

A major reason for Amazon.com, Inc. (NASDAQ:AMZN)’s success is its continuous investment in logistics and fulfillment. Amazon.com, Inc. (NASDAQ:AMZN) is expanding its delivery network, including new centers and advanced technology, which improves customer satisfaction and helps it gain more market share. Additionally, Amazon.com, Inc. (NASDAQ:AMZN)’s advertising business is thriving, with revenue reaching $12.2 billion in Q2 2024, a 21% increase, as more brands invest in digital marketing on its platform.

Moreover, Amazon.com, Inc. (NASDAQ:AMZN) is making strides in artificial intelligence to enhance customer experiences, offering personalized recommendations and better search features. Overall, Amazon.com, Inc. (NASDAQ:AMZN)’s strong financial performance, focus on improving logistics and advertising, and commitment to technology position it well for future growth and success.

Bridgewater Associates owns 2,645,567 shares of Amazon.com Inc. (NASDAQ:AMZN), worth $511.3 million.

Meridian Hedged Equity Fund stated the following regarding Amazon.com, Inc. (NASDAQ:AMZN) in its Q2 2024 investor letter:

“Amazon.com, Inc. (NASDAQ:AMZN) is a global technology company that operates e-commerce, cloud computing, digital advertising, and other businesses. We own Amazon because we believe it is well-positioned to benefit from several strong secular trends, including the shift to online shopping, the growth of cloud computing, and the increasing importance of digital advertising. The company exceeded expectations in the first quarter, with cloud-computing revenue growth accelerating, driven by easing cost optimization pressures and the ramp of generative AI workloads. The North American retail segment drove record operating margins, highlighting the success of Amazon’s efforts to improve efficiency and lower its cost to serve. International retail also showed promise, as emerging markets steadily progressed towards profitability. Given the strength across these key segments, we continue to hold the position in the company.”