Third Point sees more value in Amazon, likes some "old" tech stocks

FILE PHOTO: A logo of Amazon is pictured on a vehicle as Extinction Rebellion activists protest outside the Amazon Fulfilment Centre in Altrincham, near Manchester, Britain, November 26, 2021. REUTERS/Carl Recine

BOSTON (Reuters) - Hedge fund Third Point LLC said it added new positions and bulked up on names it already owned when markets sold off earlier this year and said that Amazon is at an "inflection point" that should lead to a higher share price.

The New York-based firm whose investments are closely watched by rivals also said certain technology stocks often referred to as "old" tech like Intel "deserve a second look."