5 Tech Stocks to Invest in Today According to John Armitage’s Egerton Capital

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

Egerton Capital’s Stake Value: $1,265,270,000

Percentage of Egerton Capital’s 13F Portfolio: 6.28%

Number of Hedge Fund Holders: 271

Amazon.com, Inc. (NASDAQ:AMZN) is an immensely popular tech stock according to John Armitage’s Egerton Capital. The American tech company is a multinational focusing on e-commerce, cloud computing, digital streaming, and artificial intelligence. It is one of the Big Five technology firms in the United States, and is the most valuable global brand. Amazon.com, Inc. (NASDAQ:AMZN) has had vast economic and cultural influence worldwide. 

Armitage’s Egerton Capital, as of the end of the second quarter, owns 367,794 shares in Amazon.com, Inc. (NASDAQ:AMZN), valued at $1.26 billion, and making up 6.28% of Armitage’s 13F portfolio. 

Amazon.com, Inc. (NASDAQ:AMZN) is the most popular tech stock amongst the smart money. Of the hedge funds tracked by Insider Monkey, 271 funds were bullish on Amazon.com, Inc. (NASDAQ:AMZN) at the end of June, up from 243 in the previous quarter. 

Baird analyst Colin Sebastian kept an Outperform rating on the stock on October 13, with a price target of $4000.

Worm Capital LLC mentioned Amazon.com, Inc. (NASDAQ:AMZN) in its Q3 2021 investor letter. Here is what they said: 

“Our core portfolio as of this writing—TSLA, SPOT, SHOP, ABNB, and AMZN—are all premier examples of companies that use the concept of aggregation of marginal gains to continuously improve their value proposition for customers. After all, what is innovation if not just a continuous search for fractional advantages in business?

Amazon, for instance, accumulates marginal gains by compressing their costs year after year for consumers, creating an infrastructure and logistics network unrivaled by its peers. In the short-term, the market can often misunderstand the intentions of the “marginal gain accumulators,” but over time, their value-creation becomes obvious in hindsight.”