Top 5 Blue Chip Stocks to Buy in 2022

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

Number of Hedge Fund Holders: 279

Amazon.com, Inc. (NASDAQ:AMZN) ranks first on our list of the best blue-chip stocks to buy in 2022, and hedge fund sentiment is a testament to the stock’s dependability and bullish trajectory. 279 hedge funds held positions in Amazon.com, Inc. (NASDAQ:AMZN) as of the end of the fourth quarter of 2021, the most of any stock tracked by Insider Monkey. In the quarter before, 242 hedge funds were bullish on the company shares.

On March 17, Amazon.com, Inc. (NASDAQ:AMZN) announced that it had closed an $8.5 billion deal to buy film studios MGM, which is behind popular hits including the James Bond franchise. The second-largest acquisition made by Amazon.com, Inc. (NASDAQ:AMZN) will add more than 4,000 film titles to its Prime Video streaming service.

Deutsche Bank analyst Lee Horowitz initiated coverage of Amazon.com, Inc. (NASDAQ:AMZN) with a Buy rating on March 10, and set a price target of $4,100. Horowitz believes that Amazon stock presents a highly compelling risk/reward at current levels, and that the market is under-appreciating potential upside associated with the firm’s retail revenue, multi-channel grocery share gains, and Amazon Web Services.

Amazon.com, Inc. (NASDAQ:AMZN) reported earnings per share of $27.75 in the fourth quarter, outperforming consensus estimates by $24.09. $137.41 billion in revenue for the fourth quarter was up 9.44% year-over-year but fell below analysts’ forecasts by $173.16 million.

Weitz Investment Management talked about Amazon.com, Inc. (NASDAQ:AMZN) in its Q4 2021 investor letter. The fund said:

“Several “platform” companies thrived during COVID and have been very strong stocks. In 2021, their businesses continued to thrive, though their stock prices cooled off. Amazon continues to steamroll the competition and grow rapidly, but its stock ended the year about where it began.”

You can also take a look at Top 15 Dividend Stocks With Upside Potential and 15 Biggest Petrochemical Companies In The World.

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