5 Best Forever Stocks To Buy Now

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

Number of Hedge Fund Holders: 286

Our hedge fund data for the third quarter shows 286 hedge funds long Amazon.com, Inc. (NASDAQ:AMZN), with a total stake value of $38.9 billion.

Oppenheimer’s Jason Helfstein maintained an Outperform rating and a $200 price target on Amazon.com, Inc. (NASDAQ:AMZN) on December 1.

Amazon.com, Inc. (NASDAQ:AMZN) is a broad-line retail company. It is based in Seattle, Washington.

Here’s what White Brook Capital Partners said about Amazon.com, Inc. (NASDAQ:AMZN) in its third-quarter 2023 investor letter:

“The magnificent seven, that underpin the S&P 500 performance, which includes Amazon.com, Inc. (NASDAQ:AMZN), now comprise almost 30% of the market capitalization of the S&P500. At least three of the seven stocks have heightened downside risk and suffer from already high penetration, weakening end markets, competitive risk, and lofty valuation. They have been remarkably resilient to increased interest rates and the potential for slowing growth.”

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