5 Best Metaverse Stocks to Buy

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

Number of Hedge Fund Holders: 252

Amazon.com, Inc. (NASDAQ:AMZN) is an internet and direct marketing retail company operating in North America and internationally. The company began incorporating metaverse technology into its digital marketplace with its Amazon AR view, which lets shoppers use augmented reality to design and decorate their homes.

An Outperform rating was reiterated on shares of Amazon.com, Inc. (NASDAQ:AMZN) on October 17 by John Blackledge at Cowen. The analyst also placed a $195 price target on the stock.

Amazon.com, Inc. (NASDAQ:AMZN) beat revenue estimates in the second quarter of 2022, bringing in revenue of $121.23 billion, which beat estimates by $2.09 billion. This October, the company’s cloud computing division also announced profitable investment plans worth $5 billion to invest in the strengthening of Thailand’s cloud infrastructure over the next 15 years.

In total, 252 hedge funds were long Amazon.com, Inc. (NASDAQ:AMZN) in the second quarter, with a total stake value of $30.1 billion. In comparison, 271 hedge funds were long the stock in the previous quarter, with a total stake value of $48 billion.