Top 5 Stock Picks of Joe Magyer’s Lakehouse Capital

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

Lakehouse Capital’s Stake Value: $18,643,000

Percentage of Lakehouse Capital’s 13F Portfolio: 10.53%

Number of Hedge Fund Holders: 271

Amazon.com, Inc. (NASDAQ:AMZN) is a global ecommerce, artificial intelligence, online streaming, and cloud-based services corporation. 10.53% of Joe Magyer’s Q3 portfolio is represented by his $18.6 million stake in Amazon.com, Inc. (NASDAQ:AMZN). Tigress Financial analyst Ivan Feinseth on November 10 raised the price target on Amazon.com, Inc. (NASDAQ:AMZN) to $4,460 from $4,370, and kept a Buy rating on the shares. He stated that Amazon.com, Inc. (NASDAQ:AMZN) is well-positioned to overcome near-term supply chain bottlenecks and can achieve strong revenue growth in 2022.

At the end of the second quarter, Amazon.com, Inc. (NASDAQ:AMZN) was one of the most sought after stocks by the hedge funds, with 271 funds being bullish on the tech giant, with reported stakes worth over $60 billion. Boykin Curry’s Eagle Capital Management is one of the biggest Amazon.com, Inc. (NASDAQ:AMZN) stakeholders, with a position worth more than $2.3 billion in the company. 

Amazon.com, Inc. (NASDAQ:AMZN) posted its Q3 earnings on October 28. EPS for the quarter totaled $6.12, missing estimates by -$2.78. The $110.81 billion Q3 revenue also missed estimates by -$784.89 million.

Here is what Polen Capital has to say about Amazon.com, Inc. (NASDAQ:AMZN) in its Q3 2021 investor letter:

“Amazon has also lagged as its revenue growth is slowing on the very difficult comparisons from last year when this behemoth was growing revenue by over 40%. We still expect exceptional long-term growth and significant margin expansion as the fastest growing (and now large) segments of Amazon are also generating the highest margins.”