Goldman Sachs Tech Stocks: 10 Stocks to Buy

Page 9 of 9

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

Number of hedge fund owners – 286

Amazon.com, Inc. (NASDAQ:AMZN) is a multinational technology company specializing in e-commerce, cloud computing, digital streaming, and artificial intelligence. Amazon has evolved from an online bookstore into a global conglomerate, offering a vast array of products and services, including consumer electronics, apparel, and cloud services through Amazon Web Services (AWS).

Amazon.com, Inc. (NASDAQ:AMZN) reported strong financial results for 2024, with net sales rising 11% year-over-year to $638.0 billion. Q4 net sales grew 10% to $187.8 billion, while net income nearly doubled to $59.2 billion ($5.53 per share) from $30.4 billion ($2.90 per share) in 2023.

However, recent stock performance has been mixed, closing at $195.54 on March 19, 2025, below its 50-day and 200-day moving averages, indicating short-term bearish momentum.

Amazon.com, Inc. (NASDAQ:AMZN) continues to expand its AI initiatives, unveiling a new “AI Alexa” at a New York event. Analysts remain bullish, with JMP Securities maintaining a “Market Outperform” rating and a price target of $285. The consensus 12-month target of $267.98 suggests a potential 34.8% upside. Looking ahead, the company plans over $100 billion in capital expenditures for 2025, focusing on AWS and AI, balancing long-term growth potential with near-term profitability pressures.

Overall Amazon.com, Inc. (NASDAQ:AMZN) ranks first on our list of Goldman Sachs tech stocks: 10 stocks to buy. While we acknowledge the potential for AMZN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than 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 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.

Page 9 of 9