Is Amazon.com (AMZN) The Best Tech Stock to Buy For Long-Term Gains?

We just covered the 10 Best Stocks to Buy According to Billionaire Ken Griffin. Amazon.com, Inc. (NASDAQ:AMZN) ranks #2 (see the Best Stocks to Buy According to Ken Griffin).

Ken Griffin’s Stake Value: $3,263,557,286

Despite Azure and Google Cloud catching up, AWS still owns 32% of the global market, maintaining a lead over Azure’s 22% and staying nearly three times larger than Google Cloud’s 12% share.

But how does Amazon.com (NASDAQ:AMZN) benefit from the AI revolution?

While everyone else is fighting over expensive NVIDIA chips, AWS has built its own: Trainium3 and Inferentia2. AWS touched a $10 billion annual run rate just from its own AI chips. Why are these chips special? Amazon.com (NASDAQ:AMZN) claims they allow customers to train models at a much lower cost than using NVIDIA GPUs.

Amazon.com’s (NASDAQ:AMZN) core e-commerce business remains its biggest growth driver. Amazon.com (NASDAQ:AMZN) commands 40% of the U.S. e-commerce market share.

Montaka Global Investments in its investor letter talked about AMZN and said investors should keep in mind that temporary underperformance is a “feature,” not a bug, when it comes to quality stocks. Click here to read the full text of the letter.

While we acknowledge the risk and potential of AMZN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than AMZN and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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