Should You Add Amazon.com (AMZN) to Your Portfolio Now?

Polen Capital, an investment management company, released its “Polen Global Growth Strategy” third-quarter 2022 investor letter. A copy of the same can be downloaded here. The fund was down -8.63% in the third quarter compared to a -6.82% decline for the MSCI ACW Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Polen Capital discussed stocks like Amazon.com, Inc. (NASDAQ:AMZN) in its Q3 2022 investor letter. Headquartered in Seattle, Washington, Amazon.com, Inc. (NASDAQ:AMZN) engages in the sale of consumer products and subscriptions. On October 20, 2022, Amazon.com, Inc. (NASDAQ:AMZN) stock closed at $115.25 per share. One-month return of Amazon.com, Inc. (NASDAQ:AMZN) was 1.29% and its shares lost 30.90% of their value over the last 52 weeks. Amazon.com, Inc. (NASDAQ:AMZN)  has a market capitalization of $1.174 trillion.

Polen Capital made the following comment about Amazon.com, Inc. (NASDAQ:AMZN)  in its Q3 2022 investor letter:

At an individual company level, the top three absolute contributors were Amazon.com, Inc. (NASDAQ:AMZN), ADP, and Autodesk. Amazon reported better-than-expected earnings during the quarter driven by robust earnings and margins in AWS, its cloud division. The company also posted positive numbers for advertising in the face of a tough environment for the sector.”

Amazon.com, Inc. (NASDAQ:AMZN) is in 2nd position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 252 hedge fund portfolios held Amazon.com, Inc. (NASDAQ:AMZN) at the end of the second quarter which was 271 in the previous quarter.

We discussed Amazon.com, Inc. (NASDAQ:AMZN) in another article and shared the best future stocks to buy. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.