Billionaire Chen Tianqiao Dumped 3 Tech Stocks and Betting On These 4 Stocks

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

Number of Hedge Fund Holders: 286   

Shanda Asset Management’s Stake: $186.3 million

Amazon.com, Inc. (NASDAQ:AMZN) operates as a technology conglomerate with core interests in the ecommerce business. There are multiple strengths that make this company a standout choice for investors. The first thing that may appeal to investors is the financial growth of the company, illustrated in the report for the third quarter of 2024. For instance, operating income increased to $17.4 billion in the third quarter, compared with $11.2 billion in the third quarter of 2023. Additionally, the International segment operating income was $1.3 billion, compared with an operating loss of $0.1 billion in the third quarter of 2023. Amazon Web Service (AWS) segment operating income was $10.4 billion, compared with an operating income of $7 billion in the third quarter of 2023. Moreover, AWS has announced plans to invest an estimated $11 billion to expand its infrastructure in Georgia to support cloud computing and AI technologies.

While we acknowledge the potential of Amazon.com, Inc. (NASDAQ:AMZN) as an investment, our conviction lies in the belief that some stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for a stock that is more promising than Amazon.com, Inc. (NASDAQ:AMZN) but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

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