5 Best Stocks To Invest In Right Now According To Tech Billionaire

4. Amazon.com, Inc. (AMZN)

The world’s largest e-commerce platform Amazon.com (NASDAQ: AMZN) is the fourth largest stock holding of tech billionaire Coleman’s portfolio. It is one of the best stocks to invest in according to the tech billionaire. Tiger Global Management has recently raised its stake in the e-commerce platform by 1% to 604,800 shares valued at $1.90 billion, accounting for 5.61% of the overall portfolio.

In a letter to investors, Baron Opportunity Fund believes Amazon will expand its market share in the days ahead. The firm said, “Amazon.com, Inc. is the world’s largest retailer and cloud services provider. Shares were up on strong second quarter revenue metrics – with paid unit growth accelerating to 57%, a startling figure for a company of this scale – as Amazon benefited from recent investments in logistics and distribution to meet increased COVID-19-related demand. Amazon has the unique ability to deliver all the necessities of life safely to your doorstep, including groceries. Amazon also reported a stunning beat in operating profit, with $5.8 billion of operating income, almost six times Wall Street’s expected figure. While e-commerce penetration is rising rapidly and Amazon continues to grow its addressable market by entering new verticals, we continue to view Amazon Web Services as the more material driver of the company given its leadership in the vast and growing cloud infrastructure market and potential to compete in application software in the years to come.”