30 Stocks That Should Double in 3 Years

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

Number of Hedge Fund Holders: 339

Amazon.com Inc. (NASDAQ:AMZN) is a large e-commerce platform. It also operates cloud computing services through its Amazon Web Services (AWS) segment, together with digital streaming and AI. The company recently unveiled its new AI model, called Nova Act, which is a software development kit that takes actions in a web browser on the user’s behalf to automate routine tasks.

The company’s revenue grew by 10% year-over-year in 2024, with an operating income of $21.2 billion, which was up 61%. Amazon’s North America segment grew 10% while the International segment saw 9% growth.. AWS continued its robust performance with 19% growth and an annualized revenue run rate of $115 billion. The company’s customers are now moving to the cloud to use AI.

Amazon’s own AI chips, Tranium 2, are 30% to 40% cheaper than its competitors, which helps it attract big clients like Anthropic. Amazon Bedrock is one of the company’s key AI services, which offers various AI models. Amazon Q, which is an AI assistant, is saving companies time and money and showcases practical AI use. On April 22, Goldman Sachs reiterated the stock’s rating as Buy due to secular growth themes across Consumer Internet and Cloud Computing. However, the firm lowered its price target to $220 from $255.

Harding Loevner Global Developed Markets Equity Strategy stated the following regarding Amazon.com, Inc. (NASDAQ:AMZN) in its Q4 2024 investor letter:

“During the quarter, we benefited from strong stocks within the Communication Services and Consumer Discretionary sectors. In Consumer Discretionary, Amazon.com, Inc. (NASDAQ:AMZN) reported strong third-quarter results. Revenue increased by double digits, led by growth in advertising and Al products, while the company’s operating margins also hit an all-time high of 11%. The key reasons for the higher margins were that its international e-commerce operations turned profitable, and there was faster growth in its high-margin cloud-computing business.”

While we acknowledge the growth potential of Amazon.com Inc. (NASDAQ:AMZN), our conviction lies in the belief that AI stocks hold great promise for delivering high returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than AMZN but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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