5 Best Reddit Stocks According to Billionaires

2. Amazon.com Inc (NASDAQ:AMZN)

Number of Billionaire Investors: 33

Amazon.com Inc (NASDAQ:AMZN) was a key part of the Magnificent Seven group that gained in 2023. Analysts believe Amazon has more room to run as Amazon.com Inc (NASDAQ:AMZN) would see huge demand of its AI products and features offered under the AWS umbrella. Amazon.com Inc (NASDAQ:AMZN) is also among the stocks loved by Jim Cramer.

Here is what White Brook Capital has to say about Amazon.com, Inc. (NASDAQ:AMZN) in its Q3 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.”