5 Best Machine Learning Stocks to Buy

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

Number of Hedge Fund Holders: 252

Amazon.com, Inc. (NASDAQ:AMZN) is one of the largest electronic commerce retailers in the world. The firm also offers cloud computing services and consumer electronics, and it is also working on its satellite internet constellation.

Amazon.com, Inc. (NASDAQ:AMZN) has integrated machine learning into its diverse suite of products and services. These range from its commerce platform to its Amazon Web Services (AWS) cloud computing division and its Alexa voice assistant. Its commerce platform uses the technology to provide recommendations, sniff out fraud, and analyze purchasing patterns and behavior. Alexa uses machine learning for natural language processing and natural language generation.

Additionally, Amazon.com, Inc. (NASDAQ:AMZN) also uses machine learning for search engine optimization on its platform and optimizing packaging in its warehouses to remove waste. By the end of this year’s June quarter, 252 out of the 895 hedge funds polled by Insider Monkey had held a stake in the company.

Amazon.com, Inc. (NASDAQ:AMZN)’s largest investor is Ken Fisher’s Fisher Asset Management which owns 48 million shares that are worth $5.1 billion.

Polen Capital mentioned the company in its Q2 2022 investor letter. Here is what the fund said:

“Shares of Amazon declined during the quarter against a backdrop of very tough comparisons, ongoing cost pressures, and a bolus in capital expenditures. We believe some of these issues are transitory, and we used this quarter as an opportunity to add to our position in this competitively advantaged company at what we believe is a compelling valuation. We detail our thoughts further in the Portfolio Activity section.”