ChatGPT Stock Advice: 5 Recent Stock Recommendations

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

Amazon.com, Inc. (NASDAQ:AMZN) has gained about 53% year to date through October 18. It is one of the “magnificent seven” companies that have been driving the stock market with their huge gains throughout the year.

A total of 278 hedge funds out of the 910 funds tracked by Insider Monkey had stakes in Amazon.com, Inc. (NASDAQ:AMZN) as of the end of the June quarter. The biggest stakeholder of Amazon.com, Inc. (NASDAQ:AMZN) was Natixis Global Asset Management’s Harris Associates which owns a $2 billion stake in the company.

White Falcon Capital Management made the following comment about Amazon.com, Inc. (NASDAQ:AMZN) in its Q3 2023 investor letter:

“There are comparable narratives involving NU Holdings, Amazon.com, Inc. (NASDAQ:AMZN), and Teck Resources, to name a few holdings from the White Falcon portfolio. Amazon constructed its logistics network and cloud computing infrastructure using yesterday’s currency, but it is poised to capitalize on this network with the inflated dollars of tomorrow. In essence, we believe we hold wonderful businesses with growing revenue streams and potential for operating leverage – all at reasonable valuations.”