5 Best NASDAQ Stocks to Buy and Hold For 3 Years

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

Number of Hedge Fund Holders: 353

Amazon.com, Inc. (NASDAQ:AMZN) is one of the best NASDAQ stocks to buy and hold for 3 years. Reuters reported on June 4 that Pinterest announced that it would pay Amazon.com’s (NASDAQ:AMZN) AWS $4 ​billion for cloud services through 2031 in an attempt to bolster a long-term partnership between the two companies. Pinterest’s Chief Technology Officer Matt Madrigal stated that the expanded commitment with AWS offers compute flexibility, infrastructure efficiency, and hardware optionality to accelerate the company’s AI mission.

In another development, Reuters reported on June 4 that Amazon.com, Inc. (NASDAQ:AMZN) announced on Thursday an upgraded ‌AI-powered mobile robot for its warehouses as part of a €10 billion ($11.6 billion) investment in its European fulfillment network. The robot is capable of responding to conversational prompts, with the company working to speed up deliveries. The ​next-generation Proteus robot was showcased at its “Delivering the Future” event at its Dartford ​fulfilment centre, east of London.

Amazon.com, Inc. (NASDAQ:AMZN) provides its customers with a range of products and services. It offers advanced tools for AR and VR developers through its Amazon Web Services (AWS) platform.

While we acknowledge the potential of AMZN to grow, 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 the cheapest AI stock.

READ NEXT: 15 Stocks That Will Make You Rich in 10 Years AND 12 Best Stocks That Will Always Grow.

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