5 Tech Stocks to Buy According to Former VP Al Gore

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

Number of Hedge Fund Holders: 242
Generation Investment Management’s Stake Value: $1,357,750,000

In Q3, Amazon.com, Inc. (NASDAQ:AMZN) accounted for 5.64% of Al Gore’s portfolio, representing shares worth $1.35 billion. Recently, UBS initiated its coverage on Amazon.com, Inc. (NASDAQ:AMZN) with a Buy rating and a $4,700 price target, highlighting the company’s importance in the U.S. internet sector. Since the beginning of the year, the stocks is up 4.69%, as of the close of December 20.

Ken Fisher’s Fisher Asset Management was one of the company’s largest shareholders in Q3, owning a stake worth $6.3 billion. Overall, of the 867 hedge funds tracked by Insider Monkey, 242 hedge funds held stakes in Amazon.com, Inc. (NASDAQ:AMZN) in Q3, down from 271 in the previous quarter. These stakes are valued at over $42.5 billion.

Davis Funds mentioned Amazon.com, Inc. (NASDAQ:AMZN) in its Q3 2021 investor letter. Here is what the firm has to say:

“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.”