5 Best S&P 500 Stocks to Buy Right Now

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

Number of Hedge Fund Holders: 381

Topping our list of the Best S&P 500 Stocks to Buy Now is Amazon.com, Inc. (NASDAQ:AMZN). The company provides a broad selection, value, and convenience across a range of customer experiences, including online shopping, cloud computing, streaming entertainment, consumer electronic devices, advertising, healthcare, AI services, and more.

On April 2, Wells Fargo slightly upped its price target on Amazon.com, Inc. (NASDAQ:AMZN) from $304 to $305, while maintaining an ‘Overweight’ rating on the shares. The bumped target indicates an upside potential of over 45% from the current levels.

Wells expects Amazon.com, Inc. (NASDAQ:AMZN)’s CapEx guidance for 2026 to remain stable, with accelerating AWS revenue supporting upward revisions to free cash flow, marking the first improvement in the last four quarters. Amazon remains the analyst firm’s top internet pick for this year, given its strong growth and an attractive valuation of 21 times 2027 GAAP price to earnings.

Amazon.com, Inc. (NASDAQ:AMZN) is targeting to spend about $200 billion in capital expenditures in FY 2026, with a big portion of it invested in AWS, given the high demand. The company expects its net sales for the first quarter to range between $173.5 billion and $178.5 billion.

Amazon.com, Inc. (NASDAQ:AMZN) was also recently included in our list of the 8 Best Blue Chip AI Stocks to Buy Now.

While we acknowledge the potential of AMZN as an investment, 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.

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