5 Best Blue Chip Stocks To Buy According to Hedge Funds

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

Number of Hedge Fund Holders: 243

Amazon.com, Inc. (NASDAQ:AMZN) ranks second on our list of the best blue chip stocks to buy according to hedge funds. It seems the core business of Amazon.com, Inc. (NASDAQ:AMZN) (ecommerce) has taken a backseat these days amid all the hullaballoo about AI and Cloud computing. While ecommerce remains its biggest growth catalyst, Amazon.com, Inc. (NASDAQ:AMZN) has huge plans for Cloud growth. Amazon.com, Inc. (NASDAQ:AMZN) recently announced to invest a whopping $12.7 billion in Cloud markets in India.

A total of 243 hedge funds tracked by Insider Monkey were long Amazon.com, Inc. (NASDAQ:AMZN) as of the end of the first quarter. The biggest stakeholder of Amazon.com, Inc. (NASDAQ:AMZN) during this period was Harris Associates of Natixis Global Asset Management which had a $2.4 billion stake in the company.