5 Growth Stocks in Billionaire George Soros’ Portfolio

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

Number of Hedge Fund Holders: 271

Soros Fund Management’s Holdings: $362,540,000

Percentage of Soros Fund Management’s Portfolio: 5.51%

Stock Price as of June 30: $107.40

Return since March 31: -38.2%

Amazon.com, Inc. (NASDAQ:AMZN) is a Seattle, Washington-based e-commerce and tech giant.

On June 29, Alex Haissl at Redburn started coverage on Amazon.com, Inc. (NASDAQ:AMZN) stock with a Buy rating and a price target of $270. The analyst thinks that Amazon Web Services (AWS) is worth $3 trillion, which is three times higher than the current market capitalization of Amazon.com, Inc. (NASDAQ:AMZN). The AWS segment has a cost and technology advantage that is helping the company gain market share. Haissl added that separating AWS from the existing setup is not under discussion right now. However, if the difference between the performance of the AWS and non-AWS segments widens, this proposition can be brought to the table. Amazon.com, Inc. (NASDAQ:AMZN) stock remains a top idea during these uncertain times due to the company’s diversification across various segments.

Weitz Investment Management discussed its outlook on Amazon.com, Inc. (NASDAQ:AMZN) in its Q1 2022 investor letter. Here’s what the firm said:

Amazon.com’s (NASDAQ:AMZN) stock was down modestly in the quarter, but opportunistic purchases helped the position contribute positively to the Fund. Our index short positions against ETFs tracking market indexes provided helpful ballast during the first quarter drawdown but were otherwise detractors for the fiscal year. During the quarter, we covered roughly 20% of our S&P 500 short and 50% of our Nasdaq 100 short at progressively lower prices. Among our long equities, we added materially to high-conviction holdings Amazon.com.”

As of Q1 2022, Amazon.com, Inc. (NASDAQ:AMZN) was held by 271 hedge funds.