10 Best Big Tech Stocks to Buy Right Now

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

Market Cap: $2.4 Trillion

Number of Hedge Fund Holders: 328

Amazon.com Inc. (NASDAQ:AMZN) is one of the best big tech stocks to buy right now. On Thursday, August 14, Morgan Stanley’s Brian Nowak reiterated his Buy rating on Amazon, keeping a $300 price target, citing the company’s push deeper into the grocery business as a key growth driver.

Amazon recently expanded its grocery offerings on Amazon.com to include more fresh and perishable items and lowered delivery fees for Prime members. Nowak sees these steps as positioning the company to tap into the $1.5 trillion offline grocery market.

The company, a day ago, announced that Prime members in over 1,000 cities and towns can now get fresh groceries with free same-day delivery on orders above $25, with coverage expected to expand to more than 2,300 locations by the end of 2025. In 2024, Amazon recorded over $100 billion in grocery and household essentials sales, excluding Whole Foods Market and Amazon Fresh.

The analyst believes that Amazon can use its scale, expansive logistics network, and data-driven operations to gain an edge over its competitors. In addition, it can combine a broader grocery selection with competitive prices and faster delivery, which can help the company to capture more market share in the category.

Nowak views this initiative as a meaningful contributor to Amazon’s long-term revenue trajectory, reinforcing the case for the stock at current levels.

Amazon.com Inc. (NASDAQ:AMZN) operates across e-commerce, digital content, advertising, and cloud computing. Its online and offline stores offer both in-house and third-party products, while its Amazon Web Services (AWS) division runs one of the world’s largest data center networks.

While we acknowledge the potential of AMZN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AMZN and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 13 Best Defensive Stocks to Invest in According to Analysts and 10 Best Large Cap Tech Stocks to Buy Now.

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