5 Best Tech Stocks to Buy Now According to Lee Munder’s Hedge Fund

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

Lee Munder Capital Group’s Stake Value: $38,866,000

Percentage of Lee Munder Capital Group’s 13F Portfolio: 2.67%        

Number of Hedge Fund Holders(Q1): 271

Amazon.com, Inc. (NASDAQ:AMZN) was still the most popular stock at the end of Q1 among hedge funds we cover despite a decline in the number of hedge funds that disclosed holding a stake in the company to 271 from 279 at the end of 2021.

Earlier this week, LiveMint reported that the e-commerce giant is in advanced talks to acquire a 51% stake in India-based logistics solutions provider Ecom Express for between $500 million to $600 million valuing the latter at close to $1.2 billion. If the deal goes through, it will provide an exit to global private equity giant Warburg Pincus LLC which currently owns a 52.2% stake in Ecom Express.

On August 10, Amazon.com, Inc. (NASDAQ:AMZN) announced that it is expanding its palm-scanning technology, first introduced in 2020 as part of the Amazon One payment service, to 65 Whole Foods stores in California.