5 Best Stock to Buy in 2021 According to Billionaire D.E. Shaw

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

Amazon.com, Inc. (NASDAQ: AMZN) is a Seattle-based multinational technology firm that operates one of the largest e-commerce businesses in the world. Over the last few years, the company has also become one of the largest technology firms in the United States. Jeff Bezos, the owner of Amazon, is one of the richest men globally. The firm has stakes in the cloud computing, publishing, digital streaming, and artificial intelligence businesses. Amazon is also the second-largest private employer in the US.

Amazon has a market cap of over $1.65 trillion and posted more than $386 billion in revenue in December 2020. Earlier this month, WSJ reported that Amazon had increased digital advertising revenue to more than 10% of the total, closing the gap on competitors who stood at more than 20%. Last week, global investment firm Evercore named Amazon as one of the top technology stocks for the first half of 2021. The company thus features first on our list of top 10 best stock picks of billionaire David E Shaw for 2021.  

At the end of the fourth quarter of 2020, 273 hedge funds out of 887 in the Insider Monkey database held stakes in Amazon, up from 245 out of 817 in Q3 2020. The total value of the shares held by these hedge funds in Q4 2020 was over $51.6 billion, up from $43.7 billion in the preceding quarter. As of February 2021, DE Shaw Capital Holdings held 647,039 shares of Amazon, with a total value of over $2.1 billion. The hedge fund holds more than 1% of the total shares in the technology company.

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