5 Best Big Company Stocks to Buy

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

Amazon.com, Inc. (NASDAQ:AMZN) is a Washington-based company that is engaged in providing services related to e-commerce, online advertising, digital streaming, and more.

On February 5, Amazon.com, Inc. (NASDAQ:AMZN) revealed a partnership with Reach under which the company will gain access to contextual first-party data to bypass the media industry’s move to remove third-party cookies.

40 Wall Street analysts covered Amazon.com, Inc. (NASDAQ:AMZN) in the last three months, and all maintained a Buy rating on the shares. The average price target of $207.72 had an upside of 19.88% at the time of writing on February 9.

Polen Capital stated the following regarding Amazon.com, Inc. (NASDAQ:AMZN) in its fourth quarter 2023 investor letter:

“For the full year, the top relative and absolute contributors were Amazon.com, Inc. (NASDAQ:AMZN), Salesforce, and ServiceNow. Amazon shares appreciated 88% in 2023, driven primarily by rapidly expanding operating profit margins and free cash flow growth. After the pandemic, Amazon experienced a period of inefficiency and overinvestment in its distribution and logistics infrastructure. Amazon is now leveraging these investments as growth returned to its e-commerce business in 2023 after a highly unusual 2022. At the same time, Amazon’s rapidly growing and high-margin advertising business is contributing strongly to the entire company’s operating profit growth. The AWS (Amazon Web Services) cloud infrastructure and services business continued to slow in 2023 as customers anticipating a more difficult economic environment looked to save money on their cloud spend, but these cloud spending optimizations began to stabilize in the second half of 2023. We now expect customer interest in generative AI will begin to contribute to growth.”