5 Stocks ChatGPT Said Will Make Me Rich in 10 Years

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

Number of Hedge Fund Holders: 278

Returns Since March 16: 35.01%

Amazon.com, Inc. (NASDAQ:AMZN) was seen in the portfolios of 278 hedge funds in the second quarter. Their total stake value was $34.9 billion.

Based in Seattle, Washington, Amazon.com, Inc. (NASDAQ:AMZN) is an e-commerce and broad-line retail company. It engages in the retail sale of consumer products and subscriptions.

On August 11, Redburn Partners’ Alex Haissl maintained a Buy rating and a $230 price target on Amazon.com, Inc. (NASDAQ:AMZN) shares.

VGI Partners Global Investments Limited said the following about Amazon.com, Inc. (NASDAQ:AMZN) in its second-quarter 2023 investor letter:

“We continue to see upside to Amazon.com, Inc. (NASDAQ:AMZN)’s two core businesses – Amazon Web Services (AWS) and retail/ecommerce. Whilst Microsoft and ChatGPT have captured the imagination of investors looking for AI exposure, the AI business at AWS is extremely well positioned to increase sales through its combination of software infrastructure products, proprietary training and inference chips (an alternative to NVIDIA). AWS is also developing large language models which are only beginning to be appreciated by the investment community.

In addition, we see significant room for Amazon’s retail business to surprise to the upside through margin expansion. After a period of massive capacity expansion and transport infrastructure investment, Amazon has rationalised its North American retail footprint and we believe it will reap the margin benefit of this over the coming years.”

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