12 Best Stocks to Invest in for the Next 3 Months

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1. Amazon.com, Inc. (NASDAQ:AMZN)  

No. of Hedge Funds: 286  

Amazon.com, Inc. (NASDAQ:AMZN) is a global leader in e-commerce, cloud computing, and digital services. The company’s vast ecosystem includes online retail, AWS (Amazon Web Services), Prime Video, and AI-driven solutions. Amazon.com, Inc. (NASDAQ:AMZN) has revolutionized the retail industry and continues to expand its reach through innovative logistics and technology.

On October 31 Amazon.com, Inc. (NASDAQ:AMZN) announced financial results for its third quarter ended September 30. The company’s net sales increased 11% year-over-year to $158.9 billion and reported an impressive $15.3 billion in net profit, which is a 54.54% increase compared to $9.9 billion in the third quarter of 2023. AWS continues to be a cornerstone of Amazon’s business, delivering 19% year-over-year revenue growth to $27.5 billion in Q3. AWS also announced plans to invest $10.12 billion over five years in the United Kingdom.

During the third quarter, Amazon.com, Inc. (NASDAQ:AMZN) introduced several advancements in its AI and infrastructure capabilities, powered by the Graviton4 processor, which offers 75% more memory bandwidth and 30% better compute performance compared to its predecessor. AWS also announced a collaboration with Databricks to enhance custom AI model development using Databricks Mosaic AI for improved generative AI application performance and cost efficiency.

While we acknowledge the potential of Amazon.com, Inc. (NASDAQ: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 timeframe. 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: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

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