1. Amazon.com, Inc. (NASDAQ:AMZN)
Baupost Group’s Stake Value: $649,543,000
Stock Upside: 31.87%
Number of Hedge Fund Holders: 353
Amazon.com, Inc. (NASDAQ:AMZN) is one of the best Seth Klarman portfolio stocks to buy. On July 2, Amazon.com, Inc. (NASDAQ:AMZN) confirmed it has now launched 396 satellites for Amazon Leo, its low Earth orbit broadband network formerly known as Project Kuiper. This milestone, the company said, is sufficient to begin an initial rollout of internet service later this year.
Amazon said that the latest batch of 29 satellites went up on United Launch Alliance’s (ULA’s) Atlas V rocket during the LA-08 mission. The rocket launched from Cape Canaveral Space Force Station on July 2 and marked Amazon Leo’s 14th mission overall. This mission also marked the end of Amazon’s use of the Atlas V rocket for Leo deployments. Melissa Wuerl, Amazon Leo’s Director of Launch Systems, noted that Atlas V had deployed 224 satellites across eight flights with a perfect success record, and that the company is now shifting to ULA’s newer, heavier-lift Vulcan rocket to carry larger satellite payloads and speed up deployment.
Amazon Leo now ranks as the third-largest satellite constellation currently in orbit, and the company has secured more than 100 total launches to gradually build out its planned network.
Amazon’s push toward internet service rollout comes after the US Federal Communications Commission granted the company a limited waiver last month on its original requirement to deploy half of its 3,232-satellite Gen1 constellation by July 30. The company acknowledged it could not meet that deadline.
Under that waiver, satellites launched after the original July 30 deadline will temporarily lose their earlier spectrum priority status, which Amazon can regain once it reaches 50 percent deployment, or automatically by March 2028 if that threshold isn’t met sooner. The company still faces a firm final deadline of July 30, 2029, to complete its full authorized constellation of 3,232 first-generation satellites.
Amazon.com, Inc. (NASDAQ:AMZN) is a retail and technology company. It engages in the retail sale of consumer products, advertising, and subscription services through online and physical stores. The company also operates Amazon Web Services, which provides compute, storage, artificial intelligence, database, analytics, and machine learning services.
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