Stocks
Hayek Kallen Invests $6 Million in Amazon, Citing Strong Demand for Cloud Computing
Hayek Kallen Investment Management has acquired a new stake in Amazon.com, Inc. (NASDAQ:AMZN) worth approximately $6 million.
The institutional investor bought 25,353 shares of AMZN stock during the second quarter, making it its 16th largest holding at around 1.8% of its portfolio.
Amazon's e-commerce business and cloud computing division, Amazon Web Services (AWS), remain a central bullish case for analysts and commentators, who argue that demand for AWS computing, custom chips, and AI capacity justifies the company's roughly $200 billion capital-expenditure plan by 2026.