A murderers’ row of hedge fund managers agree on one investment move: Amazon is a bargain megacap stock in the artificial intelligence trade that looks expensive.
During the most recent quarters, a roster of money managers including David Tepper’s Appaloosa Management, Seth Klarman’s Baupost Group, Al Gore’s Generation Investment Management, and Sanders Capital have been enlarging their stakes in the $2.5 trillion tech-and-retail giant. For both Klarman and Tepper, the stock has become their single largest holding.
