5 Stocks ChatGPT Says Will Make Me Rich in 10 Years

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

Number of Hedge Fund Holders: 240

Amazon.com, Inc. (NASDAQ:AMZN) is a consumer discretionary company engaged in the retail sale of consumer products and subscriptions through online and physical stores. The company is based in Seattle, Washington.

Rob Sanderson at Loop Capital holds a Buy rating on Amazon.com, Inc. (NASDAQ:AMZN) shares as of February 14.

Wall Street analysts have an average price target of $137.05 on Amazon.com, Inc. (NASDAQ:AMZN) shares, with a high forecast of $192. They see an upside potential of 44.45% on the shares. The stock has also risen by 10.56% year-to-date as of March 15.

Our hedge fund data shows 240 funds long Amazon.com, Inc. (NASDAQ:AMZN) in the fourth quarter. Their total stake value was $27.5 billion.

Weitz Investment Management, an investment management firm, mentioned Amazon.com, Inc. (NASDAQ:AMZN) in its fourth-quarter 2022 investor letter. Here’s what the firm said:

“Amazon.com, Inc. (NASDAQ:AMZN), perhaps the ultimate “COVID beneficiary,” has seen its shares dip below pre-pandemic levels as investors brace for a potential recession’s impact both on retail spending as well as slowing adoption of Amazon’s cloud infrastructure service, Amazon Web Services.

Meta, Alphabet, Amazon and CarMax were all top detractors for the quarter and calendar year periods (FIS and Liberty Broadband, respectively, complete the quarterly and calendar-year detractor lists.) To varying degrees, each is managing through cyclical challenges during a period of substantial investor pessimism. Drawdowns of this magnitude are painful, and it may be prudent for management to moderate the pace of some investments, but we remain encouraged by their long-term focus. In the short run, cutting spending indiscriminately to “defend earnings” may lessen the pain of a drawdown, but it seldom grows a company’s business value — the ultimate prize.”