5 High Growth IT Stocks to Buy

Page 5 of 5

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

P/E Ratio: 78.31

Number of Hedge Fund Holders: 286

Amazon.com, Inc. (NASDAQ:AMZN), a prominent American multinational technology company, encompasses a diverse range of business interests, including e-commerce, cloud computing through Amazon Web Services (AWS), online advertising, digital streaming, and artificial intelligence.

In the quarter ending in September, Amazon.com, Inc. (NASDAQ:AMZN) reported a 236% growth in EPS to $0.94. For its closely-watched Amazon Web Services Cloud business, the company recorded a 12% year-over-year sales increase to $23.1 billion, slightly below analysts’ expectations for sales of $23.2 billion. Amazon.com, Inc. (NASDAQ:AMZN) also stated that it anticipates sales to fall within the range of $160 billion and $167 billion for the current fourth quarter.

Based on data from Insider Monkey’s database, a total of 286 elite hedge funds held positions in Amazon.com, Inc. (NASDAQ:AMZN) stock, with a collective stake value of $38.8 billion. This represents an increase from the 278 hedge funds that collectively held a stake valued at $34.9 billion previously. Notably, Ken Fisher’s Fisher Asset Management emerged as the most significant stakeholder in the company, with 41.35 million shares valued at $5.25 billion.

You may also like to read Warren Buffett Sees Big Gains in These Small-Cap Stocks and 10 Top Stock Picks of Israel Englander

Page 5 of 5