Amazon.com, Inc. (NASDAQ:AMZN) is one of Billionaire Ken Fisher’s Latest Portfolio: 10 Best Stocks to Buy. eCommerce and cloud computing giant Amazon.com, Inc. (NASDAQ:AMZN)’s shares are up by 22% over the past year and by 12.2% year-to-date.
It is one of the major players in the cloud computing industry and targets the needs of the AI sector via its computing infrastructure and Trainium custom AI chips
One of Amazon.com, Inc. (NASDAQ:AMZN)’s closest partners in the AI industry is AI lab Anthropic. The pair has deals in place where Anthropic will spend more than $100 billion to utilize the firm’s cloud computing services. For its part, Amazon.com, Inc. (NASDAQ:AMZN) will invest as much as $25 billion in Anthropic, with a large portion of the investment based on performance milestones.
Amazon.com, Inc. (NASDAQ:AMZN) has a forward P/E ratio of 25.64, which is lower than the total market’s forward ratio of 27.66. Truist discussed the firm on May 29th as it raised the share price target to $320 from $310 and kept a Buy rating on the stock. AWS revenue estimates and Amazon.com, Inc. (NASDAQ:AMZN)’s partnerships with Anthropic and OpenAI factored into the coverage.