5 Best American Stocks To Buy Heading into 2024

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

Number of Hedge Fund Holders: 278

Amazon.com, Inc. (NASDAQ:AMZN) is a broad-line retail company. It is based in Seattle, Washington.

A total of 278 hedge funds were long Amazon.com, Inc. (NASDAQ:AMZN) in the second quarter, with a total stake value of $34.9 billion.

An Outperform rating and a $170 price target were maintained on Amazon.com, Inc. (NASDAQ:AMZN) by Oppenheimer’s Jason Helfstein on October 19.

White Falcon Capital Management mentioned Amazon.com, Inc. (NASDAQ:AMZN) in its third-quarter 2023 investor letter:

“There are comparable narratives involving NU Holdings, Amazon.com, Inc. (NASDAQ:AMZN), and Teck Resources, to name a few holdings from the White Falcon portfolio. Amazon constructed its logistics network and cloud computing infrastructure using yesterday’s currency, but it is poised to capitalize on this network with the inflated dollars of tomorrow. In essence, we believe we hold wonderful businesses with growing revenue streams and potential for operating leverage – all at reasonable valuations.”

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