5 Best NASDAQ Stocks to Buy Now

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

Amazon.com, Inc. (NASDAQ: AMZN) is a Seattle-based multinational technology corporation primarily operating in the e-commerce business. It has a market cap of over $1.65 trillion and posted more than $386 billion in revenue in December 2020. Earlier this month, WSJ reported that Amazon had increased digital advertising revenue to more than 10% of the global total, closing the gap on competitors who stood at more than 20%. Last week, global investment firm Evercore named Amazon as one of the top technology stocks for the first half of 2021. Amazon features second on our list of 10 best NASDAQ stocks to buy for now. 

At the end of the fourth quarter of 2020, 273 hedge funds out of 887 in the Insider Monkey database held stakes in Amazon, up from 245 out of 817 in Q3 2020. The total value of the shares held by these hedge funds in Q4 2020 was over $51.5 billion, up from $43.7 billion in the preceding quarter. Out of the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group held the most shares – 4.9 million – worth more than $16 billion. SB Management was 2nd with 2.2 million shares worth almost $7.3 billion.