5 Best Guru Stocks To Buy Now

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

Number of Hedge Fund Holders: 293

Guru’s Stake as of March 11: $696,609

Amazon.com, Inc. (NASDAQ:AMZN) is one of the best Guru stocks. As of March 11, The Global X Guru Index ETF (NYSE:GURU) holds 4,051 shares of Amazon.com, Inc. (NASDAQ:AMZN) valued at $696,609. On February 1, Amazon.com, Inc. (NASDAQ:AMZN) reported a Q4 EPS of $1.00 and a revenue of $169.96 billion, outperforming Wall Street estimates by $0.20 and $3.70 billion, respectively.

According to Insider Monkey’s fourth quarter database, 293 hedge funds were bullish on Amazon.com, Inc. (NASDAQ:AMZN), an increase from 286 funds in the last quarter. Ken Fisher’s Fisher Asset Management held the top position in the firm, comprising 41.78 million shares valued at $6.35 billion.

Alger Spectra Fund stated the following regarding Amazon.com, Inc. (NASDAQ:AMZN) in its fourth quarter 2023 investor letter:

“Amazon.com, Inc. (NASDAQ:AMZN) is a well-known online retailer and cloud computing leader. The company’s Amazon Web Services (AWS) business provides utility-scale cloud offerings that facilitate corporate America’s transition to digital systems. During the quarter, shares contributed to performance as Amazon reported strong fiscal third quarter results, where the company beat sales and earnings estimates. Moreover, AWS growth remained steady. contributing to Amazon’s better-than-expected operating income despite concerns around cloud cost optimizations, showing signs of increasing net new cloud workloads. While management noted that customers remain price-conscious and focused on deals, demand remains strong across all segments, leading the company to raise their fiscal fourth quarter revenue and operating income guidance.”

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