5 Safe Stocks To Invest In

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

Number of Hedge Fund Holders: 243

Amazon.com, Inc. (NASDAQ:AMZN) is another big tech company on our list, offering an online retail platform alongside physical stores, among more. It is based in Seattle, Washington.

A total of 243 hedge funds were long Amazon.com, Inc. (NASDAQ:AMZN) in the first quarter, with a total stake value of $25.8 billion.

JMP Securities analyst Nicholas Jones reiterated a Market Outperform rating on Amazon.com, Inc. (NASDAQ:AMZN) shares, alongside a $140 price target, on July 18.

Here’s what The Ithaka Group said about Amazon.com, Inc. (NASDAQ:AMZN) in its second-quarter 2023 investor letter:

“Founded in 1994, Amazon.com, Inc. (NASDAQ:AMZN) has evolved from its early roots as an online bookstore to become one of the world’s largest eCommerce retailers. At the end of 2022 Amazon stood poised to capture ~40% of all US e-commerce sales, representing five times more share than the next closest competitor. In addition to eCommerce, Amazon Web Services (“AWS”) has become the market leader in outsourced cloud infrastructure. Further, Amazon Advertising is garnering significant share in digital advertising, particularly product placement ads, thanks to consumers beginning their product searches on Amazon’s site. Despite providing tepid forward guidance on its 1Q23 earnings call, Amazon’s stock appreciated on the back of increased confidence the company would be able to contain expenses and push operating margins above prior peaks in the near-to medium term.”

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