12 Best Dow Stocks to Buy Right Now

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

No. of Hedge Fund Holders: 286

Amazon.com, Inc. (NASDAQ:AMZN) is a global leader in e-commerce, cloud computing, and digital streaming. Amazon is one of the most diversified companies and earns through retail sales, third-party marketplace fees, and subscription services such as Amazon Prime, and AWS. The company’s consumers include individuals, corporations, and government organizations.

On January 22, Cantor Fitzgerald analyst Deepak Mathivanan reaffirmed an Overweight rating on AMZN and maintained a price target of $270. The analyst highlighted Amazon.com, Inc.’s strong positioning among mega-cap companies and its strength in e-commerce and cloud business. Mathivanan further pointed out that the investor sentiment is aligned with AMZN’s positive outlook, driven by strong revenue growth of 11.93% year-over-year in Q3 2024.

Amazon.com, Inc. (NASDAQ:AMZN) will continue to deliver strong results, benefiting from the growing demand for AI, mainly in inference workloads. AWS enjoys the highest global cloud market share and has a robust infrastructure and well-established customer relationships, which are key to its continued growth.

While we acknowledge the potential of AMZN to grow, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than AMZN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.

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