Top 5 Stock Picks of Zweig-DiMenna Associates

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

Zweig-DiMenna Associates’ Stake Value: $15.798 million

Number of Hedge Fund Holders: 271

There is little need to introduce one of the biggest companies in the world, in Amazon.com, Inc. (NASDAQ:AMZN). Amazon.com, Inc. (NASDAQ:AMZN) is rarely out of the news for one thing or the other, though it is often in the news because of its working conditions for employees, or lack thereof.

Just like most tech stocks in 2022, Amazon.com, Inc. (NASDAQ:AMZN) has seen its share price plummet YTD, dropping more than 23%. If Amazon profits continue to grow, however, the stock could increase.

Amazon.com, Inc. (NASDAQ:AMZN) was mentioned by Oakmark Funds in its Q2 2022 investor letter. Here is what it said:

“Amazon (NASDAQ:AMZN) is the leading e-commerce and cloud-computing provider in the world. Two-thirds of U.S. households are Amazon Prime subscribers, and over half of all online product searches now start on Amazon. We believe the company’s strong customer loyalty and massive infrastructure are significant barriers to entry in a growing e-commerce market. Separately, Amazon Web Services (“AWS”) controls nearly half of the market in cloud computing. We believe AWS has become utility-like in nature and scale and we expect healthy growth moving forward as IT workloads continue moving to the cloud. More recently, concerns about rising investment spending have weighed on the stock-as they have in times past-providing us another opportunity to purchase shares at a very attractive price. At our purchase price and valuing AWS like its peers, an investor isn’t paying much of anything for the immensely valuable e-commerce franchise.”