Jim Cramer’s 5 Most Favorite Tech Stocks to Buy Now

Page 5 of 5

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

Number of Hedge Fund Holders: 242

With the lingering fears of Covid’s new variant, Omicron, Jim Cramer places his confidence in Amazon.com, Inc. (NASDAQ:AMZN) in case of a possible economic slowdown in the future. He further acknowledged the company’s strong position in global cloud infrastructure.

With the company’s growing Web Services segment, recently, UBS assumed its coverage on Amazon.com, Inc. (NASDAQ:AMZN) with a Buy rating and a $4,700 price target.

Of the 867 hedge funds tracked by Insider Monkey, 242 hedge funds were bullish on Amazon.com, Inc. (NASDAQ:AMZN) in Q3, compared with 271 in the previous quarter. These stakes hold a consolidated value of over $42.5 billion.

Davis Funds mentioned Amazon.com, Inc. (NASDAQ:AMZN) in its Q3 2021 investor letter. Here is what the firm has to say:

“E-commerce, online search and advertising, social media and software are another component of the portfolio that have proven, attractive businesses. The online portion of the Fund is currently dominated by such market leaders as Amazon.com. We are attracted to these names based on the size and rapid expansion of their market opportunities globally, their ability to generate and grow new revenue sources through constant innovation, ample operating leverage as they continue to scale and capable, focused, highly competitive leadership teams. If purchased at sensible prices, these types of businesses in our experience can contribute meaningfully to long-term results.”

You can also take a look at 10 Best Biotech Stocks To Buy For 2021 and Top 10 Undervalued Tech Stocks

Page 5 of 5