5 Best Stocks to Invest In According to Billionaire Steve Cohen

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

Point72 Asset Management’s Stake: $1.2 Billion

Amazon.com, Inc. (NASDAQ:AMZN) has consistently featured in the 13F portfolio of Point72 Asset Management for more than a decade. The fund first disclosed a stake in the company back in the third quarter of 2014. This position comprised 2 million shares. By the second quarter of 2016, the fund had increased this to over 13 million shares. A cool-off period followed, during which Cohen trimmed this stake and brought it under 5 million shares. Latest filings, submitted at the end of the fourth quarter of 2025, show that the fund owned 5.2 million shares in the company, up 68% compared to filings for the previous quarter.

Amazon.com, Inc. (NASDAQ:AMZN) is turning heads on Wall Street not just because of AI but the growth inflection at Amazon Web Services, which has returned to its fastest growth rates since 2022. In early 2026, AWS reported that virtually all new capacity added is immediately purchased by customers. As of Q1 2026, Amazon’s cloud backlog has reached a staggering $200 billion. This massive committed revenue provides a safety net that few other tech giants can match. Hedge funds are also rewarding Amazon for its Trainium3 and Graviton5 chips. These custom processors allow AWS to offer AI training at a significantly lower cost than competitors reliant solely on third-party hardware, protecting long-term margins.