5 Best Tech Stocks to Buy According To Billionaire Laffont

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

Coatue Management’s Stake value: $1.62 Billion
Percent of Portfolio: 7.94%
Number of Hedge Fund Holders: 278

Amazon.com, Inc. (NASDAQ:AMZN) is one of the technology stocks with a diversified business empire spanning various sectors. The company is known for its e-commerce platform that connects merchants and consumers. It has also unlocked significant opportunities in offering cloud applications and solutions through Amazon Web Services.

Likewise, Amazon.com, Inc. (NASDAQ:AMZN) remains one of Laffont’s top stock picks as it moves to unlock a $100 billion opportunity to open its logistics network to third parties. Nevertheless, Amazon’s investments in artificial intelligence have strengthened its sentiments in the market.

278 of the 910 hedge funds profiled by Insider Monkey for their second quarter of 2023 shareholdings had invested in Amazon.com, Inc. (NASDAQ:AMZN). Out of these, the biggest shareholder is Harris Associates, with a $2.04 billion investment.

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