5 Best Undervalued Stocks To Buy Now According To The Media

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1. Amazon.com Inc (NASDAQ:AMZN)

No. Of Hedge Fund Investors: 286

Concerns recently circled Amazon.com Inc (NASDAQ:AMZN) stock amid fears that rising inflation and threats to consumer sentiment might hurt the Amazon.com Inc’s (NASDAQ:AMZN) business. Slowing growth in Cloud business also emboldened Amazon.com Inc (NASDAQ:AMZN) bears. But Amazon bulls believe Amazon.com Inc (NASDAQ:AMZN) fundamentals are strong and once the inflation and recession clouds begin to recede, Amazon.com Inc (NASDAQ:AMZN) will rebound with full force. The stock is already up by about 71% year to date through December 8.

Dan Niles, Satori Fund founder, recently said in a program that Amazon.com Inc (NASDAQ:AMZN) was his favorite Magnificent Seven stock. The analyst praised Amazon.com Inc’s (NASDAQ:AMZN) operating profit and valuation.

Here is what Claret Asset Management has to say about Amazon.com, Inc. (NASDAQ:AMZN) in its Q3 2023 investor letter:

“We have mentioned in the last letter that the “magnificent seven”, including Amazon.com, Inc.,dominated the performance of the S&P 500. We might have left you with the feeling that we are bearish because we don’t find the Magnificent 7 attractive. Let us make it clear: we are just not so pessiimistic as to believe there are only 7 growth opportunities in the entire global equity market. In fact, we are optimists and think opportunity is abundant. Just not in everyone’s current 7 favorite stocks.”

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