5 Set-It-and-Forget-It Stocks to Buy According to Financial Media

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

Number of Hedge Fund Holders: 286

Amazon.com, Inc. (NASDAQ:AMZN) is an online retailer that provides services related to or focused on cloud computing, online advertising, digital streaming, and artificial intelligence.

On December 18, it was reported that Amazon.com, Inc. (NASDAQ:AMZN)’s Amazon Content Services entered into an agreement with Games Workshop for the possible development of Games Workshop’s Warhammer 40,000 universe into films and television series. The company will hold exclusive rights to the films and television series.

On December 20, Amazon.com, Inc. (NASDAQ:AMZN)’s Amazon Web Services (AWS) announced its second AWS infrastructure region in Canada. Including the AWS Canada West (Calgary) Region, AWS now has 105 availability zones across 33 geographic locations.

White Brook Capital Partners mentioned Amazon.com, Inc. (NASDAQ:AMZN) in its third quarter 2023 investor letter. Here is what it said:

“The magnificent seven, that underpin the S&P 500 performance, which includes Amazon.com, Inc. (NASDAQ:AMZN), now comprise almost 30% of the market capitalization of the S&P500. At least three of the seven stocks have heightened downside risk and suffer from already high penetration, weakening end markets, competitive risk, and lofty valuation. They have been remarkably resilient to increased interest rates and the potential for slowing growth.”

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