5 Best Robinhood Stocks According to Billionaires

3. Amazon.com Inc (NASDAQ:AMZN)

Number of Billionaire Investors: 33

Goldman Sachs recently released a report which talks about the top stocks that will benefit in 2024 due to the AI wave. Amazon.com Inc (NASDAQ:AMZN) is among the biggest beneficiaries of AI trends, according to the firm.

A total of 33 billionaires in Insider Monkey’s database had stakes in Amazon.com Inc (NASDAQ:AMZN) as of the end of the third quarter of 2023. Some notable billionaires having stakes in Amazon.com Inc (NASDAQ:AMZN) are Ken Fisher, Rajiv Jain, Warren Buffett and Andreas Halvorsen.

Here is what White Brook Capital has to say about Amazon.com, Inc. (NASDAQ:AMZN) in its Q3 2023 investor letter:

“The magnificent seven, that underpin the S&P 500 performance, which includes Amazon.com, Inc. (NASDAQ:AMZN), now comprise almost 30% of the market capitalization of the S&P500. At least three of the seven stocks have heightened downside risk and suffer from already high penetration, weakening end markets, competitive risk, and lofty valuation. They have been remarkably resilient to increased interest rates and the potential for slowing growth.”