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Pershing Square Bets Big on Amazon, Dumps Alphabet

Guavy AI Editorial Team
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Bill Ackman's Pershing Square made Amazon its fourth-largest holding by selling Alphabet, according to recent filings. The investment firm exited its position in Alphabet in the second quarter and now holds a significant stake in Amazon.

Ackman expects Amazon's earnings to grow at more than 20% annually due to opportunities in artificial intelligence (AI) and continued e-commerce growth. This view is based on the company's two growth engines: Amazon Web Services (AWS) and e-commerce.

Amazon's total revenue rose 20% year over year in the second quarter, while operating income jumped 43% to $27 billion. The retail business has room for margin expansion, supported by investments in robotics and tightened inventory management.

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