5 Best Cyclical Stocks To Invest In

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

Number of Hedge Fund Holders: 278   

Amazon.com, Inc. (NASDAQ:AMZN) engages in the retail sale of consumer products and subscriptions through online and physical stores. The European Union is set to review the purchase of iRobot, a vacuum firm, by Amazon by the beginning of next year. Amazon purchased iRobot last year in a deal worth nearly $1.6 billion. A review of the deal, which had been suspended in August, was set for hearing in November but now may be delayed until February of next year. 

On October 27, DA Davidson analyst Tom Forte maintained a Buy rating on Amazon.com, Inc. (NASDAQ:AMZN) stock and raised the price target to $157 from $150, noting that the sales and profits were better than the consensus for the firm in the recent earnings. 

At the end of the second quarter of 2023, 278 hedge funds in the database of Insider Monkey held stakes worth $34 billion in Amazon.com, Inc. (NASDAQ:AMZN), compared to 243 in the preceding quarter worth $25 billion. 

In its Q3 2023 investor letter, White Falcon Capital Management, an asset management firm, highlighted a few stocks and Amazon.com, Inc. (NASDAQ:AMZN) was one of them. Here is what the fund said: 

“There are comparable narratives involving NU Holdings, Amazon.com, Inc. (NASDAQ:AMZN), and Teck Resources, to name a few holdings from the White Falcon portfolio. Amazon constructed its logistics network and cloud computing infrastructure using yesterday’s currency, but it is poised to capitalize on this network with the inflated dollars of tomorrow. In essence, we believe we hold wonderful businesses with growing revenue streams and potential for operating leverage – all at reasonable valuations.”

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