Top 10 Technology Stocks to Buy According to Hedge Funds

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

Number of Hedge Fund Holders: 335

Amazon.com, Inc. (NASDAQ:AMZN) is one of the Top Technology Stocks to Buy According to Hedge Funds. On August 26, Procore Technologies, Inc. announced that it has signed a multi-year strategic collaboration agreement (SCA) with Amazon.com, Inc. (NASDAQ:AMZN)’s AWS. Notably, the SCA demonstrates a joint commitment to co-invest in go-to-market activities as well as product innovation targeting the global construction industry and adjacent verticals that drive construction initiatives. The availability of Procore in AWS Marketplace and the joint go-to-market initiatives will help customers access the transformative solutions.

Amazon.com, Inc. (NASDAQ:AMZN)’s net sales rose 13% to $167.7 billion in Q2 2025 as compared to $148.0 billion in Q2 2024. AWS segment sales went up by 17.5% YoY to $30.9 billion. Amazon.com, Inc. (NASDAQ:AMZN) highlighted that AWS has an annualized revenue run rate of over $123 billion. During Q2 2025, there was growth in both its generative AI and non-generative AI businesses. Amazon.com, Inc. (NASDAQ:AMZN) plans to continue its investment spree in chips, data centers, and power in a bid to pursue the huge opportunity in Gen AI.

Investment management company Vulcan Value Partners recently released its Q2 2025 investor letter. Here is what the fund said:

Amazon.com, Inc. (NASDAQ:AMZN) is a dominant, world-class company with powerful secular tailwinds in place including its e-commerce penetration, digital advertising growth, and the transition to the cloud. Amazon reported strong results during the first quarter. The company’s stock rebounded during the second quarter.”

While we acknowledge the potential of AMZN to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AMZN and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 13 Cheap AI Stocks to Buy According to Analysts and 11 Unstoppable Growth Stocks to Invest in Now.

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