5 Blue Chip Stocks to Buy That Are Down Over 30% YTD

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

Number of Hedge Fund Holders: 269

Year to Date Performance as of 12/26: -48.87%

As a result of rising inflation, e-commerce demand for Amazon.com, Inc. (NASDAQ:AMZN) has slowed and corporate spending on the cloud has been more cautious than before. As a result, Amazon.com, Inc. (NASDAQ:AMZN) shares have declined 48.87% year to date.

If the Federal Reserve wins its battle against inflation in the long term, demand for Amazon.com, Inc. (NASDAQ:AMZN) could bounce back and the company’s stock could also benefit. At the end of Q3, 269 hedge funds in our database owned shares of Amazon.com, Inc. (NASDAQ:AMZN), ranking the stock #1 on our list of 12 Blue Chip Stocks to Buy That Are Down Over 30% YTD.

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