5 Best Stocks To Invest In Right Now

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

Number of Hedge Fund Holders: 252

Amazon.com, Inc. (NASDAQ:AMZN) announced on September 9 that it is acquiring the Belgium-based firm, Cloostermans, to advance its robotics operations. Cloostermans designs and manufactures mechatronics solutions. Amazon.com, Inc. (NASDAQ:AMZN) has been using Cloostermans’ tech since 2019 to move and stack heavy palettes and pack products for customer orders. 

On September 12, DA Davidson analyst Tom Forte reaffirmed a Buy rating and a $151 price target on Amazon.com, Inc. (NASDAQ:AMZN) after the firm disclosed the purchase of Cloostermans. With this acquisition, as well as the iRobot buyout announced last month, Amazon.com, Inc. (NASDAQ:AMZN) is making a “concerted effort” into the robotics and automation market, the analyst told investors in a research note. 

Amazon.com, Inc. (NASDAQ:AMZN) is one of the best stocks to invest in right now. The Q2 2022 database of Insider Monkey suggests that 252 hedge funds were bullish on Amazon.com, Inc. (NASDAQ:AMZN), compared to 271 funds in the last quarter. Jaime Sterne’s Skye Global Management is one of the leading stakeholders of the company, with 15.4 million shares worth $1.6 billion. 

Here is what Baron Funds specifically said about Amazon.com, Inc. (NASDAQ:AMZN) in its Q2 2022 investor letter:

“Amazon.com, Inc. (NASDAQ:AMZN) is the world’s largest retailer and cloud services provider. Shares of Amazon declined 35% in the quarter due to weaker-than-expected profits resulting from an overcapacity of resources coming out of COVID. We expect Amazon to grow into its retail capacity in the quarters to come, which would enable it to improve profitability accordingly. Amazon remains one of our largest holdings due to its durable competitive advantages with a leading position in multiple trillion-dollar markets with a long runway for growth.

According to the U.S. Census Bureau, domestic e-commerce was only 14.3% of retail as of the first quarter of 2022. Internationally, the opportunity is even earlier as Amazon has still less than 2% market share of international retail spending. Its advertising share is roughly 3% and growing, underpinned by its structural closed loop, which enables accurate targeting and measurement.

Lastly, Amazon Web Services or AWS, remains the leading cloud provider, while cloud computing still represents only 9.5% out of the $4.3 trillion of global IT spending according to Gartner. Areas such as logistics and health care present additional optionality.”