Chinese Billionaire Lei Zhang is Selling These 4 Tech Stocks in 2022

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

Number of Hedge Fund Holders as of December 31: 279

Amazon.com, Inc. (NASDAQ:AMZN) is a Seattle, Washington-based e-commerce giant. Hillhouse Capital liquidated a stake of 15,000 shares in the trillion-dollar company in the first quarter. The hedge fund opened a position in Amazon.com, Inc. (NASDAQ:AMZN) in Q1 2017, with 11,562 shares purchased at an average quarterly share price of $833.5. Amazon.com, Inc. (NASDAQ:AMZN) stock has come under pressure after major retailers in the US provided a very bleak outlook regarding consumer spending for the rest of the year due to the increase in inflation.

Miller Value Partners shared its insights on Amazon.com, Inc. (NASDAQ:AMZN) in its Q1 2022 investor letter.

“For frame of reference, Amazon (NASDAQ:AMZN) bottomed at the same valuation in the financial crisis (side note: Amazon bottomed at 4x EV/GP after the tech bubble burst)! So there’s historical precedent for the lows being in. We will see whether that holds true this time. Regardless, we think there’s significant upside over a 5-year time horizon. The one other topic I want to briefly address is our volatility. We hope to write something about the topic in more depth in the future, but we want our clients and prospective investors to understand our views on it. We think that volatility is significantly misunderstood. We believe it creates opportunities from which we can profit.”

Amazon.com, Inc. (NASDAQ:AMZN) is the most owned stock amongst the 924 hedge funds tracked by Insider Monkey at the end of Q4 2021.

You can also take a peek at the 10 Best ETFs to Invest In for Retirement and 10 Biotech Stocks to Buy According to Billionaire DE Shaw.

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