5 Good Stocks To Invest In Right Now

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

Number of Hedge Fund Holders: 278

Tom Forte at DA Davidson maintains a Buy rating and a $150 price target on Amazon.com, Inc. (NASDAQ:AMZN) as of September 6.

Amazon.com, Inc. (NASDAQ:AMZN) is a big tech giant that operates an e-commerce platform and a cloud business for customers across the globe.

Our hedge fund data shows 278 funds long Amazon.com, Inc. (NASDAQ:AMZN) in the second quarter, with a total stake value of $34.9 billion.

RiverPark Advisors said the following about Amazon.com, Inc. (NASDAQ:AMZN) in its second-quarter 2023 investor letter:

“Amazon.com, Inc. (NASDAQ:AMZN): Amazon was a top contributor in the second quarter, in reaction to a solid 1Q23 earnings report. The company generated $127 billion of revenue (2% ahead of expectations) and nearly $5 billion of operating income (57% better than expectations) driven by rebounding online sales and strong incremental gross margins. During the company’s earnings conference call, Amazon management pointed to easing inflationary pressures, higher productivity gains, and lower expected capital spending for the remainder of the year. The only negative in the quarter was slowing AWS revenue growth, which we believe will rebound later in the year.

With its ability to continue its market share gains in three leading businesses (e-commerce, web services and online advertising), plus a multi-year operating margin expansion opportunity (from improved e-commerce margins and greater contribution from the faster growing, higher margin AWS and advertising segments), we believe Amazon remains one of the best-positioned global growth companies in the world. AMZN shares trade at a 10-year trough EPS multiple, despite what we believe to be currently depressed margins and earnings.”

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See also Conservative Stock Portfolio: 10 Best Stocks To Buy and What Are The Best Stocks To Buy Right Now?

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