Conservative Stock Portfolio: 5 Best Stocks To Buy

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

Number of Hedge Fund Holders: 243

Amazon.com, Inc. (NASDAQ:AMZN) is a broad-line retail and e-commerce company with a dedicated cloud services business as well. It is based in Seattle, Washington.

Amazon.com, Inc. (NASDAQ:AMZN) was found in the portfolios of 243 hedge funds, with a total stake value of $25.8 billion.

Redburn Partners analyst Alex Haissl holds a Buy rating and a $230 price target on Amazon.com, Inc. (NASDAQ:AMZN) shares as of August 11.

Weitz Investment Management said the following about Amazon.com, Inc. (NASDAQ:AMZN) in its second-quarter 2023 investor letter:

“Amazon.com, Inc. (NASDAQ:AMZN) was another top performer for the quarter and year-to-date, also with an AI role to play. AI systems require massive computational resources, meaning that as these technologies become more pervasive for businesses of all sizes, customers will increasingly lean on cloud computing platforms like Amazon Web Services to harness the benefits.”

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