5 Best Streaming Service Stocks To Buy

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

Number of Hedge Fund Holders: 293

Established in 1994, Amazon.com, Inc. (NASDAQ:AMZN) has built its reputation primarily as a leading online marketplace, facilitating the purchase of diverse products from numerous vendors. Beyond its e-commerce platform, the company provides an array of additional products and services, such as streaming video and music, cloud storage solutions, and home security offerings. Notably, Amazon Prime Video ranks as the second-largest streaming platform globally, boasting a subscriber base exceeding 200 million.

Insider Monkey’s database, which monitors 933 elite hedge funds, reveals a positive sentiment towards Amazon.com, Inc. (NASDAQ:AMZN) in Q4. The number of hedge funds with investments in the stock rose to 293, up from 286 in the previous quarter.

Alger Spectra Fund stated the following regarding Amazon.com, Inc. (NASDAQ:AMZN) in its fourth quarter 2023 investor letter:

Amazon.com, Inc. (NASDAQ:AMZN) is a well-known online retailer and cloud computing leader. The company’s Amazon Web Services (AWS) business provides utility-scale cloud offerings that facilitate corporate America’s transition to digital systems. During the quarter, shares contributed to performance as Amazon reported strong fiscal third quarter results, where the company beat sales and earnings estimates. Moreover, AWS growth remained steady. contributing to Amazon’s better-than-expected operating income despite concerns around cloud cost optimizations, showing signs of increasing net new cloud workloads. While management noted that customers remain price-conscious and focused on deals, demand remains strong across all segments, leading the company to raise their fiscal fourth quarter revenue and operating income guidance.”

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