Michael Burry Is Selling These 7 Stocks in 2024

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1. Amazon.com Inc (NASDAQ:AMZN)

Number of Hedge Fund Investors: 293

Michael Burry dumped his entire stake in Amazon.com Inc (NASDAQ:AMZN) during the first quarter of 2024, selling 30,000 shares in Amazon.com Inc (NASDAQ:AMZN) he’d owned in the previous quarter. This surprised many as Amazon.com Inc (NASDAQ:AMZN) is apparently just getting started reaping rewards of the AI revolution, thanks to Amazon Web Services that offers software and Cloud features to develop, deploy and maintain AI apps.

Vulcan Value Partners stated the following regarding Amazon.com, Inc. (NASDAQ:AMZN) in its first quarter 2024 investor letter:

Amazon.com, Inc. (NASDAQ:AMZN) is a dominant, world class company with powerful secular tailwinds in place including its ecommerce penetration, digital advertising growth, and the cloud transition. Amazon reported strong results during the quarter. Losses in the Core Retail business significantly narrowed. Amazon reduced its cost to serve on a per unit basis for the first time since 2018 as the company’s recent regionalization efforts continue to bear fruit.”

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