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OFFON

AMAZON.COM, INC.

(AMZN)
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Hedge funds increased exposure to growth favorites in first quarter: Goldman

05/22/2020 | 12:08pm EDT
FILE PHOTO:  Traders work on the floor of the NYSE in New York

Hedge funds concentrated their portfolios even further into growth stocks including Amazon.com Inc and Microsoft Corp in the first quarter of 2020 as the COVID-19 pandemic pummeled U.S. markets, Goldman Sachs analysts said in a report.

The two American multinationals saw the largest increase in hedge fund holdings, according to an analysis by the bank of 822 funds with 1.8 trillion in gross equity positions.

Along with Facebook Inc, Alphabet Inc's Google and China's Alibaba, they have been hedge funds' top five long positions for seven consecutive quarters, the report said.

Goldman Sachs said the focus on growth stocks, which tend to outperform the overall market, had supported recent hedge fund performance as Wall Street witnessed one of the quickest turns to a bear market amid a near-collapse in business activity.

From peak to trough, the S&P 500 slumped more than 35% in just 23 trading sessions, with investors ditching the so-called value stocks in favor of growth stocks.

Overall, funds also rotated further toward defensive sectors such as real estate, consumer staples and utilities as opposed to cyclicals.

Among sectors, Goldman Sachs said healthcare enjoyed the most net exposure, with funds also shifting to beneficiaries of the past two months' stay-at-home orders including online retail and internet services.

(Reporting by Shreyashi Sanyal in Bengaluru; Editing by Patrick Graham and Arun Koyyur)


ę Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED 0.33% 212.3 Delayed Quote.-8.78%
ALPHABET INC. -1.34% 2402.22 Delayed Quote.37.06%
AMAZON.COM, INC. -0.07% 3486.9 Delayed Quote.7.06%
DJ INDUSTRIAL -1.58% 33290.08 Delayed Quote.10.51%
FACEBOOK INC -2.04% 329.66 Delayed Quote.20.68%
LETS HOLDINGS GROUP CO., LTD. -1.79% 7.12 End-of-day quote.-8.48%
LOOK HOLDINGS INCORPORATED -3.23% 1497 End-of-day quote.56.43%
MICROSOFT CORPORATION -0.56% 259.43 Delayed Quote.17.30%
NASDAQ 100 -0.81% 14049.584838 Delayed Quote.9.01%
NASDAQ COMP. -0.92% 14030.375849 Delayed Quote.8.86%
S&P 500 -1.31% 4166.45 Delayed Quote.10.93%
THE GOLDMAN SACHS GROUP, INC. -3.50% 348.83 Delayed Quote.32.28%
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Financials (USD)
Sales 2021 490 B - -
Net income 2021 28 711 M - -
Net cash 2021 78 508 M - -
P/E ratio 2021 62,9x
Yield 2021 -
Capitalization 1 759 B 1 759 B -
EV / Sales 2021 3,43x
EV / Sales 2022 2,85x
Nbr of Employees 1 298 000
Free-Float 82,4%
Chart AMAZON.COM, INC.
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Amazon.com, Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends AMAZON.COM, INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 53
Average target price 4 238,37 $
Last Close Price 3 486,90 $
Spread / Highest target 57,7%
Spread / Average Target 21,6%
Spread / Lowest Target 8,26%
EPS Revisions
Managers and Directors
NameTitle
Jeffrey P. Bezos Chairman, President & Chief Executive Officer
Brian T. Olsavsky Chief Financial Officer & Senior Vice President
Patricia Q. Stonesifer Independent Director
Thomas O. Ryder Independent Director
Jonathan Jake Rubinstein Lead Independent Director
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