Billionaire Ray Dalio’s Bridgewater Is Crazy About These 15 Stocks

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6. Amazon.com, Inc. (NASDAQ:AMZN)  

Bridgewater Associates’ Stake Value as of Q3: $263 million

Number of Hedge Fund Holders:

Amazon.com Inc. (NASDAQ:AMZN), a tech giant known for its leadership in e-commerce, cloud computing, streaming, and online retail, is also advancing in artificial intelligence (AI) through partnerships with startups like Anthropic and agreements with the U.S. government for AI model testing.

Amazon.com Inc. (NASDAQ:AMZN) recently committed an additional $4 billion investment in Anthropic, a competitor to OpenAI, as it seeks to strengthen its position in the generative AI space. This doubles Amazon’s earlier investment in the firm, which is known for its GenAI chatbot, Claude. The investment, made via convertible notes, will be phased, with an initial installment of $1.3 billion.

On November 22, Truist Securities reaffirmed its Buy rating on Amazon.com Inc. (NASDAQ:AMZN) shares with a price target of $270. The firm noted that Amazon’s North American revenue is trending slightly above consensus estimates for the current quarter, reflecting strong momentum through November 18. This performance aligns with the upper range of industry growth projections for the holiday season.

In its fiscal Q3 2024 results, Amazon.com Inc. (NASDAQ:AMZN) reported net sales of $158.9 billion, an 11% year-over-year increase, driven largely by the robust performance of Amazon Web Services (AWS). AWS revenues surged 19% year-over-year to $27.5 billion, while operating income for AWS rose from $7 billion in Q3 2023 to $10.4 billion in Q3 2024. Looking ahead, the tech giant projects Q4 2024 net sales growth between 7% and 11% year-over-year, signaling continued momentum across its business segments.

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