Bell & Brown Wealth Advisors LLC Buys into Amazon.com, Inc.
Bell & Brown Wealth Advisors LLC has made a significant investment in Amazon.com, Inc. (NASDAQ:AMZN), purchasing 38,314 shares of the e-commerce giant's stock valued at approximately $9.13 million during the second quarter.
This new stake makes up about 2.8% of Bell & Brown Wealth Advisors LLC's investment portfolio and is their 10th biggest position in Amazon.com. The institutional investor has joined other major players such as Auto Owners Insurance Co, Bank of New York Mellon Corp, Amundi, Invesco Ltd., and Dimensional Fund Advisors LP, who have all increased their holdings in the company.
AWS growth is expected to continue with positive sentiment surrounding Amazon's long-term investment in cloud and artificial-intelligence infrastructure. The e-commerce giant has reportedly made large AI infrastructure commitments, including a potential $60 billion purchase from Qualcomm and a partnership with Wiwynn that will expand U.S. server manufacturing capacity and create nearly 1,000 jobs.