Obama Stock Portfolio: 10 Year Returns and Top 5 Stocks

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

Number of Hedge Fund Holders: 269    

Amazon.com, Inc. (NASDAQ:AMZN) engages in the retail sale of consumer products and subscriptions in North America and internationally. It is one of the premier stocks in the Vanguard index in which Obama had stakes in during his time in the office. On November 2, Snapchat revealed that it has partnered up with Amazon for its augmented reality-powered Virtual Try-On shopping experience. Amazon will offer Snapchat users the ability to digitally try on eyewear styles from a range of popular brands.

On November 2, Tigress Financial analyst Ivan Feinseth maintained a Buy rating on Amazon.com, Inc. (NASDAQ:AMZN) stock and lowered the price target to $192 from $232, noting that the new price target reflects a re-rating of valuation and growth rate adjustments.

At the end of the third quarter of 2022, 269 hedge funds in the database of Insider Monkey held stakes worth $34.6 billion in Amazon.com, Inc. (NASDAQ:AMZN), compared to 252 in the preceding quarter worth $30 billion.

In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Amazon.com, Inc. (NASDAQ:AMZN) was one of them. Here is what the fund said:

“Amazon.com, Inc. (NASDAQ:AMZN) is the world’s largest retailer and cloud services, provider. Shares of Amazon declined 35% in the quarter due to weaker-than-expected profits resulting from the overcapacity of resources coming out of COVID. We expect Amazon to grow its retail capacity in the quarters to come, which would enable it to improve profitability accordingly. Amazon remains one of our largest holdings due to its durable competitive advantages with a leading position in multiple trillion-dollar markets with a long runway for growth (…read more)