5 Blue Chip Stocks to Buy Now According to Billionaire George Soros

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

Soros Fund Management’s Stake Value: $212,898,000

Percentage of Soros Fund Management’s 13F Portfolio: 3.79%

Number of Hedge Fund Holders:

Amazon.com Inc (NASDAQ: AMZN), is a multinational technology company operating online and physical stores where it sells its own products as well as allows third-party sellers to sell their products to consumers. It manufactures and sells electronic devices, including Kindle, Fire tablet, Fire TV, Echo, and Ring, and develops and produces media content; and provides cloud computing services through Amazon Web Services platform. Its ecommerce platform is home to more than 1.7 million small and medium businesses.

George Soros’ Soros Fund Management’s holds 2,004,500 shares of Amazon.com Inc (NASDAQ: AMZN), accounting for 3.79% of its 13F portfolio, as of Q2 2022. The hedge fund increased its stake by a blistering 2735% during the latest quarter, as compared to the previous one.

In July, Amazon released its financial results for the second quarter of 2022. Its total revenue increased by 7% y-o-y to $121.2 billion, while it reported a net loss of $2 billion for the three months ended June 30, 2022. The normalized EPS was recorded at -$0.20 for the quarter, missing the consensus by $0.32.

Amazon.com Inc (NASDAQ: AMZN) is also highly sought after by hedge funds with the second highest number of hedge funds as 252 out of the 895 tracked by Insider Monkey hold its shares with a total value of $30.1 billion. The ecommerce giant ranks #1 on the list of 10 Blue Chip stocks to buy now according to billionaire George Soros based on the number of hedge funds invested in the stock and portfolio weight, among several other factors.

You may also like to read 10 Blue Chip Dividend Stocks to Buy After the Market Selloff and 10 Blue Chip Stocks to Buy According to Billionaire Jim Simons.

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