5 Best Machine Learning Stocks to Invest In

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

Number of Hedge Fund Holders: 243

Amazon.com, Inc. (NASDAQ: AMZN) is a technology and e-commerce giant operating across the globe. The company makes use of machine learning and AI to aggregate and analyze purchasing data on products to forecast demand, and to accomplish a range of other tasks as well. It ranks 2nd on our list of the best machine learning stocks to invest in.

This June, Piper Sandler analyst Thomas Champion reiterated an Overweight rating on Amazon.com, Inc. (NASDAQ: AMZN) shares, alongside a $4,000 price target. Champion mentioned that Amazon Prime Day sales saw a 13% increase year over year as well.

In the first quarter of 2021, Amazon.com, Inc. (NASDAQ: AMZN) had an EPS of $15.79, beating estimates by $6.15. The company’s revenue was $108.52 billion, up 43.82% year over year and beating estimates by $3.89 billion. Amazon.com, Inc. (NASDAQ: AMZN) has gained 16.43% in the past 6 months and 15.68% year to date.

As of the end of the first quarter of 2021, 243 hedge funds out of the 866 tracked by Insider Monkey held stakes in Amazon.com, Inc. (NASDAQ: AMZN) worth roughly $50.4 billion. This is compared to 273 hedge funds in the previous quarter with a stake value of about $51.3 billion.