5 Best Strong Buy Stocks To Invest In

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

Average Upside Potential as of March 20: 38.31%

Number of Hedge Fund Holders: 240

On March 16, JPMorgan analyst Doug Anmuth reiterated Amazon.com, Inc. (NASDAQ:AMZN) as his best idea and maintained his $135 price target and Overweight rating on the stock. Amazon.com, Inc. (NASDAQ:AMZN) is one of the best Strong Buy stocks to invest in according to analysts and hedge funds.

Over the past 3 months, Amazon.com, Inc. (NASDAQ:AMZN) has received 37 Buy ratings and 1 Hold rating from Wall Street analysts. The stock has an average price target of $136.86, which implies an upside of 38.31% from current levels.

At the close of Q4 2022, 240 hedge funds were bullish on Amazon.com, Inc. (NASDAQ:AMZN) and disclosed positions worth $27.5 billion. Of those, Harris Associates is the top investor in the company and holds a position worth $1.62 billion.

Here is what Artisan Partners had to say about Amazon.com, Inc. (NASDAQ:AMZN) in its Q4 2022 investor letter:

“Amazon.com, Inc. (NASDAQ:AMZN) is the world’s largest retailer. The company has gone through a period of massive investment as it doubled its fulfillment network and hired over 800,000 people to meet growing demand over the past few years. Capital expenditure (capex) in the 2017 to 2019 period was $10 billion – $17 billion per year before ramping up to $40 billion in 2020, $61 billion in 2021 and is expected to end 2022 at another $61 billion. We believe the company is in the later innings of this capex cycle and will be transitioning toward a period of harvesting those investments through higher margins and free cash flow generation. At a valuation that appears to be discounting a deteriorating environment for consumer spending, we decided to start a GardenSM position.”