5 Stocks That Will Double In 2023

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

Number of Hedge Fund Holders: 278

There were 278 hedge funds long Amazon.com, Inc. (NASDAQ:AMZN) in the second quarter, with a total stake value of $34.9 billion.

Amazon.com, Inc. (NASDAQ:AMZN) is another big tech giant on our list. It operates an e-commerce and physical retail business under the Amazon name, among more.

Michael Pachter at Wedbush reiterated an Outperform rating and a $180 price target on Amazon.com, Inc. (NASDAQ:AMZN) on September 15.

Motley Fool named Amazon.com, Inc. (NASDAQ:AMZN) as a stock that will double in 2023 on December 20. Between then and September 16, the stock has risen by 65.32%.

Diamond Hill Capital said the following about Amazon.com, Inc. (NASDAQ:AMZN) in its second-quarter 2023 investor letter:

“Among our top contributors were insurance company American International Group (AIG), auto retailer CarMax and global online retailer Amazon.com, Inc. (NASDAQ:AMZN).

Amazon’s management team has been working to improve retail profitability, and Q1 results showed progress. In the case of Amazon’s web services (AWS), the market has shifted its focus from where growth will bottom in the near term to how AI can help accelerate the adoption of public cloud services in the future. We believe Amazon’s competitive advantages will continue to grow and that the business has the potential to grow faster than the overall economy in the coming years.”

Follow Amazon Com Inc (NASDAQ:AMZN)

See also Stocks On the Rise: 12 Best Stocks To Buy and 10 Stocks That Will Skyrocket.

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