Billionaire Steve Cohen recommends Amazon as one of the best stocks to buy.

From Yahoo Finance: 2025-04-08 18:11:00

Steve Cohen, founder of Point72 Asset Management, is known for his work in finance and his ownership of the New York Mets. He expressed uncertainty about the US economy due to President Trump’s tariff proposals, foreseeing a potential market pullback. Cohen also raised concerns about Elon Musk’s use of DOGE to reduce government spending, fearing significant job cuts.

Amazon.com, Inc. (NASDAQ:AMZN) is highlighted as one of the best stocks to buy according to Steve Cohen. The company’s e-commerce dominance gives it a competitive edge, with 38% of total US e-commerce sales. In 2024, Amazon reported a 10% increase in net sales to $187.8 billion for the fourth quarter and nearly doubled net income to $59.2 billion. Analysts predict continued growth, with AWS expected to reach $56.3 billion by 2030.

Ariel Appreciation Fund mentioned Amazon.com, Inc. (NASDAQ:AMZN) in its Q4 2024 investor letter, along with Diageo and Uber as new investments. While AMZN ranks highly as an investment, other AI stocks may offer higher returns in a shorter time frame. For those seeking promising AI stocks, a report on the cheapest AI stock with significant upside potential is available.



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