5 Best Robotics Stocks To Buy According To Hedge Funds

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

Number of Hedge Fund Holders: 252

Amazon.com, Inc. (NASDAQ:AMZN) is one of the largest digital retailers in the world, whose platform allows merchants to connect with customers to sell their products. Additionally, the firm also has other divisions such as satellite internet and cloud computing. It has also developed a small home robot to aid consumers in their daily lives.

Amazon.com, Inc. (NASDAQ:AMZN)’s home robot is called the Astro Robot and it uses the company’s Alexa voice recognition system and its artificial intelligence technology. In a sci-fi-esque take on things, the Astro Robot is designed to be a family pet, act as a security guard and home patroller, follow the owner around playing music, act as a cupholder, and make different sounds. Additionally, Amazon.com, Inc. (NASDAQ:AMZN) also operates its fully autonomous robot called Proteus in its warehouses to move large carts.

Insider Monkey’s Q2 2022 survey of 895 hedge funds revealed that 252 had bought Amazon.com, Inc. (NASDAQ:AMZN)’s shares.

Out of these, 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.

Alger Capital mentioned the company in its Q2 2022 investor letter, outlining that:

Amazon.com, Inc. (NASDAQ:AMZN) detracted from portfolio performance in part due to poor operating profit and concerns about future margins. The company disclosed that its first quarter retail revenues increased 3% relative to Q1 2021 due to increased online shopping last year during the COVID-19 pandemic restrictions fueled by direct-to-consumer fiscal stimulus payments. This growth met an estimate from a consensus of analysts at financial services firms, according to FactSet. For the first quarter, however, amazon.com reported $3.7 billion in operating profit versus $5.3 billion anticipated by a consensus estimate. This substantial miss was driven by increased fuel and international shipping expenses, increased staffing due to hiring for employees who were sick with covid-19 and fulfillment center capacity buildout that is now becoming better utilized. These factors resulted in shares of amazon.com underperforming during the second quarter.”

Disclosure: None. You can also take a look at 10 Best Vanguard ETFs to Invest In and Top 10 Technology Stocks to Buy According to Billionaire Cliff Asness.

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