5 Best Big Company Stocks to Buy

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

Number of Hedge Fund Holders: 278

Amazon.com, Inc. (NASDAQ:AMZN) is one of the top big company stocks to buy now according to hedge funds. Amazon.com, Inc. (NASDAQ:AMZN) is currently facing a lawsuit from the FTC that alleges the company used an algorithm to raise prices to manipulate competition. But Wall Street analysts believe this is a temporary distraction and Amazon.com, Inc. (NASDAQ:AMZN) is a long-term pick.  JPMorgan recently called Amazon.com, Inc. (NASDAQ:AMZN) one of its stop ideas and kept an Overweight on the stock.

As of the end of the second quarter of 2023, 278 hedge funds tracked by Insider Monkey had stakes in Amazon.com, Inc. (NASDAQ:AMZN). The biggest hedge fund stakeholder of Amazon.com, Inc. (NASDAQ:AMZN) was Natixis Global Asset Management’s Harris Associates which owns a stake worth over $2 billion in the company.

Diamond Hill Large Cap Strategy made the following comment about Amazon.com, Inc. (NASDAQ:AMZN) in its Q2 2023 investor letter:

“Among our top contributors were insurance company American International Group (AIG), auto retailer CarMax and global online retailer Amazon.com, Inc. (NASDAQ:AMZN).

Amazon’s management team has been working to improve retail profitability, and Q1 results showed progress. In the case of Amazon’s web services (AWS), the market has shifted its focus from where growth will bottom in the near term to how AI can help accelerate the adoption of public cloud services in the future. We believe Amazon’s competitive advantages will continue to grow and that the business has the potential to grow faster than the overall economy in the coming years.”