Billionaire Investors Boost Amazon (AMZN) Stake in Q1 2023

AI Summary

In Q1 2023, several billionaire hedge funds increased their stakes in Amazon (AMZN), highlighting its popularity. David Tepper's Appaloosa Management nearly doubled its position, while Bill Ackman added approximately 2 million shares. Larry Robbins at Glenview Capital now holds a 6% stake, making Amazon the fourth-largest investment in his portfolio. Amazon Web Services (AWS) saw a revenue increase of 28% year-over-year, accounting for 59% of Amazon's total operating profits, which supports its ongoing infrastructure investments projected at $200 billion this year.