5 Best Technology Stocks To Buy Now

1. Amazon.com Inc. (AMZN)

Amazon Inc (AMZN) is a technology company that immerses itself in e-commerce, cloud computing, digital streaming, and artificial intelligence. Amazon Inc is one of the biggest American Technology companies such as Alphabet, Apple, Meta Platforms and Microsoft. Company’s current share price is $140, up more than 35% over the past couple of months. Amazon, Inc has a market capitalization of $1.4 trillion.  

Amazon produces books, DVDs, music CDs, videotapes, and software), apparel, baby products and more. Amazon also focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence. Amazon has made Prime, Prime Air, Alexa, Kindle, Cloud Computing. Key drivers of Amazon are subscriber growth, its fulfillment strategy, and cloud revenue. It is really a cloud computing company but most investors see it mostly as an online retailer. 

Amazon is indeed the largest internet retailer and e-commerce giant, but it derives the bulk of its value from cloud computing services. A couple of months ago its market value declined to $1 trillion. Insider Monkey valued the value of Amazon’s AWS at $1 trillion which meant investors could have bought the rest of the company (i.e. the biggest online retailer in the world for free). That’s probably why it is the number one stock among hedge funds (see 30 most popular hedge fund stocks). 

Amazon Inc, also has family support programs, free mental resources, and a Career Choice Program. Amazon, Inc is committed to be net-zero carbon by 2040. Amazon Inc is the biggest corporate buyer of sustainable energy. Amazon Inc, currently has 274 projects. 

 Here’s what Alphyn Capital Management has to say in its Q1 2022 report for Amazon Inc: 

“We doubled our position in Amazon after the price declined due to market worries regarding cost/wage inflation and the need for increased capital expenditure. In contrast to many “covid beneficiaries,” Amazon’s sales are proving resilient, as the convenience of online shopping for everyday items has led to habit formation. To accommodate the increase in business, Amazon increased its operating square footage by 60% and 40% in 2020 and 2021. It plans to grow a further 25% in 2022.6 Future revenues will benefit from this increase in capacity, and margins should expand as capital expenditure moderates.” 

You can also take a look at This Analyst Is Bearish on These 15 Retail Stocks Amid “Soft Landing” Expectations and 10 Best Stocks For Inflation According to Redditors. 

Disclosure: None. 5 Best Technology Stocks To Buy Now is originally published at Insider Monkey.