5 Best Blockchain Stocks To Buy Now

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

Number of Hedge Fund Holders: 269

Amazon.com, Inc. (NASDAQ:AMZN) is quickly becoming a leader and gaining traction in the blockchain industry. The company has been investing heavily in blockchain technology, and has already launched its own blockchain service, the Amazon Managed Blockchain. The company’s cloud business, Amazon Web Services (AWS), has been actively engaging in blockchain initiatives, such as the launch of the AWS Blockchain Templates. Amazon.com, Inc. (NASDAQ:AMZN) is one of the best blockchain stocks to buy now.

On December 1, Cowen analyst John Blackledge raised his price target on Amazon.com, Inc. (NASDAQ:AMZN) to $160 from $150 and maintained an Outperform rating on the shares.

At the end of Q3 2022, Amazon.com, Inc. (NASDAQ:AMZN) was spotted on 269 investors’ portfolios that held collective stakes of $34.6 billion in the company. This is compared to 252 positions in the previous quarter with stakes worth $30.07 billion. The hedge fund sentiment for the stock is positive. As of September 30, Fisher Asset Management is the dominant shareholder in the company and has stakes worth $5.6 billion.

Here is what L1 Capital International had to say about Amazon.com, Inc. (NASDAQ:AMZN) in its third-quarter 2022 investor letter:

“Quarterly results (mostly reported in late July and early August) were generally in line with our expectations. Solid company execution was subsequently swamped by increases in interest rates and hawkish Federal Reserve commentary. During the quarter, only one company (Amazon.com) made a positive contribution of more than 0.5% in Australian dollars. Amazon.com, Inc.(NASDAQ:AMZN) was the largest negative contributor in the June 2022 quarter, with the share price recovering modestly but it is still well below our view of fair value. No company detracted more than 0.5% from the Fund’s performance in Australian dollars, although the depreciation of the Australian dollar obfuscates some meaningful share price falls in U.S. dollars

We did not participate in the ‘unprofitable tech bubble’, but our portfolio does have significant exposure to some of the largest, highly profitable and incredibly financially strong technology companies which dominate their markets and have outstanding medium to long term growth prospects – including Alphabet, Amazon, Intuit and Microsoft. The share price of these companies has now fallen to levels we now consider provide very attractive valuations for long term investors.”

You can also take a look at 15 Best Electric Car Stocks To Buy and Top 10 Semiconductor Manufacturing Countries in the World.