Cornerstone Capital Invests Heavily in Amazon Amid Revenue Growth
Cornerstone Capital Inc., an investment firm, has acquired a new stake in Amazon.com, Inc. (AMZN) worth approximately $43.17 million.
The company purchased 181,132 shares of AMZN's stock in the second quarter, which accounts for about 3.9% of Cornerstone Capital's portfolio and is its sixth-largest holding.
This development comes as several other large investors have increased or decreased their stakes in Amazon.com. Vanguard Group Inc., for example, raised its holdings in AMZN by 1.1% during the first quarter, while State Street Corp boosted its stake in the company by 1.8% during the fourth quarter.
Amazon's revenue has seen significant growth, with a 19.6% increase year-over-year and EPS substantially above expectations. The company is also investing heavily in AI infrastructure, which some analysts see as both an opportunity and a risk.