10 Best Stocks to Buy According to Billionaire Ray Dalio

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

Bridgewater Associates Equity Stakes: $201.79 Million

Number of Hedge Fund Holders: 339

Amazon.com, Inc. (NASDAQ:AMZN) is a technology giant that offers an array of internet-based businesses, including e-commerce, cloud computing and digital streaming. It’s also investing in artificial intelligence features and services to strengthen its robust product portfolio. While the stock only gained 12% in 2024, it remains one of the best stocks to buy, according to billionaire Ray Dalio, owing to its growth prospects.

Amazon.com, Inc.’s (NASDAQ:AMZN) edge as one of the best stocks stems from the integration of artificial intelligence across its entire business line to drive efficiency and generate more revenue. The company is already using AI to forecast demand and optimize inventory in e-commerce. It also offers generative AI tools that help brands create cost-effective and efficient advertising campaigns across media types, drawing more advertising budgets.

As a market leader in cloud computing, it has already started designing custom chips to provide cheaper alternatives to Nvidia’s expensive GPUs for treating AI models. Amazon customers’ desire to test and deploy artificial intelligence (AI) applications is driving up demand for AWS. The wave of AI integration was the catalyst behind Amazon.com, Inc. (NASDAQ:AMZN) posting an 11% year-over-year revenue increase in 2024 to $638 billion. The revenue increase was mostly driven by robust advertising and cloud service sales growth.