Goldman Sachs Tech Stocks: Top 5 Stock Picks

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

Goldman Sachs’ Stake Value: $4,907,650,282

Number of Hedge Fund Holders: 243

Amazon.com, Inc. (NASDAQ:AMZN) is yet another prominent Goldman Sachs tech stock. On August 3, Amazon.com, Inc. (NASDAQ:AMZN) announced a Q2 EPS of $0.65 and a revenue of $134.3 billion, beating Wall Street estimates by $0.31 and $2.96 billion, respectively. At the end of Q1 2023, Goldman Sachs held 47.5 million shares of Amazon.com, Inc. (NASDAQ:AMZN) worth $4.91 billion.

According to Insider Monkey’s first quarter database, a total of 243 hedge funds were bullish on Amazon.com, Inc. (NASDAQ:AMZN). During the prior quarter, 240 hedge funds were invested in the company. Harris Associates held the largest stake in the company, with 22.8 million shares valued at $2.3 billion. 

Weitz Partners III Opportunity Fund had this to say 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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