5 Best Consumer Cyclical Stocks To Buy Now

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

Number of Hedge Fund Holders: 278

An Overweight rating and a $175 price target were maintained on Amazon.com, Inc. (NASDAQ:AMZN) on October 2 by Brian Nowak at Morgan Stanley.

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.

Amazon.com, Inc. (NASDAQ:AMZN) is a big tech giant. It operates an e-commerce business alongside its physical retail stores and a cloud computing business named Amazon Web Services.

Here’s what Diamond Hill Capital said about Amazon.com, Inc. (NASDAQ:AMZN) in its second-quarter 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.”

Follow Amazon Com Inc (NASDAQ:AMZN)

See also 15 Best Cyclical Stocks to Buy Now and 11 Best Consumer Cyclical Dividend Stocks To Buy.

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