5 Best Blue Chip Stocks to Buy According to Hedge Funds

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

Number of Hedge Fund Holders: 240

Amazon.com, Inc. (NASDAQ:AMZN) is the second most popular hedge fund stock in our database with 240 hedge funds holding shares in the e-commerce and cloud computing giant at the end of Q4. Although 269 hedge funds in our database owned shares of the company at the end of Q3, Amazon.com, Inc. (NASDAQ:AMZN) nevertheless has substantial growth potential in the future as AI processing will likely increase cloud processing demand. In the future, Amazon.com, Inc. (NASDAQ:AMZN) could also make more of its own computing chips for AWS that could help it save more money and offer more value. Like several other big tech companies, Amazon.com, Inc. (NASDAQ:AMZN) has also recently trimmed some of its workforce with around 9,000 more layoffs expected.