5 Best Tech Stocks to Buy Now

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

Number of Hedge Fund Holders: 271

Amazon.com, Inc. (NASDAQ:AMZN) is a highly sought-after tech stock by hedge funds. The American tech multinational specializes in e-commerce, cloud computing, digital streaming, and artificial intelligence.

Amazon.com, Inc. (NASDAQ:AMZN) is the most popular tech stock amongst hedge funds. At the end of June, of the hedge funds tracked by Insider Monkey, 271 funds were long Amazon.com, Inc. (NASDAQ:AMZN), up from 243 in the previous quarter. 

Baird analyst Colin Sebastian kept an Outperform rating on Amazon.com, Inc. (NASDAQ:AMZN) on October 13, setting the price target at $4000. Even though the future outlook of the company was positive, according to Sebastian, Q4 and 2022 earnings would be lower due to an increase in labor costs, logistics and transportation expenses, product costs, and expensive technology infrastructure. 

Worm Capital LLC mentioned Amazon.com, Inc. (NASDAQ:AMZN) in its Q3 2021 investor letter. Here is what they said: 

“Our core portfolio as of this writing—TSLA, SPOT, SHOP, ABNB, and AMZN—are all premier examples of companies that use the concept of aggregation of marginal gains to continuously improve their value proposition for customers. After all, what is innovation if not just a continuous search for fractional advantages in business?

Amazon, for instance, accumulates marginal gains by compressing their costs year after year for consumers, creating an infrastructure and logistics network unrivaled by its peers. In the short-term, the market can often misunderstand the intentions of the “marginal gain accumulators,” but over time, their value-creation becomes obvious in hindsight.”

You can also take a look at 11 Best Penny Stocks To Buy According To Hedge Funds and 10 Stocks in the Limelight After Earnings Reports.

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