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Core Facts
Chase Coleman III, a prominent hedge fund manager and one of the “tiger cubs,” has increased his fund’s investment in Amazon (NASDAQ: AMZN) to over 4 million shares, making it the fourth-largest holding for Tiger Global Management, which manages more than $34 billion in securities. This acquisition occurred last month.
Amazon’s net income has surged by over 500% to $70.6 billion, while the share price has nearly doubled, resulting in a price-to-earnings ratio of 34x. In its latest quarter, Amazon reported a 13% growth in net sales year-over-year, with notable growth in its cloud platform, Amazon Web Services, which generated a 17.5% increase in revenue.
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