5 Best Upside Stocks to Buy Right Now

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

Number of Hedge Fund Holders: 269

Amazon.com, Inc. (NASDAQ:AMZN) shares have declined over 50% from their peak as high inflation has caused a slowdown in the company’s e-commerce business while weaker than expected demand has led to the company’s cloud business to underperform in the near term.

Nevertheless, Amazon.com, Inc. (NASDAQ:AMZN) has a lot of value given its leading e-commerce market share. If the company uses future technologies such as AI, robots, and drones to significantly reduce costs and shipping times, the company’s e-commerce business could be substantially more profitable than it is today.

If AI demand continues to grow and the company maintains its market share in the cloud, Amazon.com, Inc. (NASDAQ:AMZN) could benefit from more AI cloud demand. Although OpenAI uses Microsoft’s Azure for its cloud processing, future AI companies could potentially use AWS for their processing needs.

269 hedge funds in our database owned shares of Amazon.com, Inc. (NASDAQ:AMZN) at the end of September, ranking the stock #1 on our list of 10 Best Upside Stocks to Buy Right Now.

You can also take a look at 11 Biggest Malls in Europe and 11 Best Quality Stocks to Buy Now.

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