19 Trending AI Stocks on Latest Analyst Ratings and News

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

Number of Hedge Fund Holders: 308    

Amazon.com, Inc. (NASDAQ:AMZN) operates as a technology conglomerate with core interests in the ecommerce business. The company recently announced that it would invest £8 billion in the United Kingdom over the next five years as part of a major push to expand data center infrastructure across the country. Other tech giants, like Google and Microsoft, have also previously announced plans to boost data center infrastructure in the UK. The former plans to invest $1 billion in the UK while the latter has confirmed around £2.5 billion to expand AI growth. The cloud departments of these tech giants are leading these investments.

Wells Fargo recently lowered the price target on Amazon.com, Inc. (NASDAQ:AMZN) stock to $225 from $232 and kept an Overweight rating. In an investor note, the advisory noted that heavy upfront costs related to satellite launches, commencing in the second half of 2024, reduce operating income forecasts for Amazon from 2025 through 2027. The note further detailed that Kuiper presented an attractive opportunity longer term for Amazon, but also unclear synergy with core operations.

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