5 Favorite Stocks of Cathie Wood and Ken Fisher

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

Ken Fisher’s Stake Value: $6,343,928,000

Cathie Wood’s Stake Value: $43,737,000

Number of Hedge Fund Holders: 242

Amazon.com, Inc. (NASDAQ:AMZN), an e-commerce, AI, digital streaming, and cloud services provider, posted Q3 earnings on October 28. EPS in the period equaled $6.18, missing estimates by -$2.78. The quarterly revenue came in at $110.81 billion, up 15.26% from the prior-year quarter, but missing estimates by $784.89 million. 

It was announced on December 2 that Amazon.com, Inc. (NASDAQ:AMZN) has partnered with the EV automaker, Rivian Automotive, Inc. (NASDAQ:RIVN) and Pfizer Inc. (NYSE:PFE) as their cloud services provider. 

UBS analyst Kunal Madhukar assumed coverage of Amazon.com, Inc. (NASDAQ:AMZN) with a Buy rating and a $4,700 price target on December 2. Amazon.com, Inc. (NASDAQ:AMZN) is the analyst’s favorite name in the U.S. internet sector, and he stated that the company has multiple growth drivers. 

In the third quarter, 243 hedge funds reported owning stakes worth $42.5 billion in Amazon.com, Inc. (NASDAQ:AMZN), down from 271 funds in the preceding quarter, holding total stakes valued at $60.5 billion. Ken Fisher’s Fisher Asset Management is one of the leading Amazon.com, Inc. (NASDAQ:AMZN) stakeholders from Q3, with a $6.34 billion position in the company. 

Here is what Davis Opportunity Fund has to say about Amazon.com, Inc. (NASDAQ:AMZN)  in its Q3 2021 investor letter:

“E-commerce, online search and advertising, social media and software are another component of the portfolio that have proven, attractive businesses. The online portion of the Fund is currently dominated by such market leaders as Amazon.com. We are attracted to these names based on the size and rapid expansion of their market opportunities globally, their ability to generate and grow new revenue sources through constant innovation, ample operating leverage as they continue to scale and capable, focused, highly competitive leadership teams. If purchased at sensible prices, these types of businesses in our experience can contribute meaningfully to long-term results.”