Goldman Sachs named Amazon, Uber and Meta the three tech stocks that offer the “most attractive risk/reward” looking ahead to the rest of the year. If that happens later in 2023, big tech companies are well-positioned to “survive a turbulent environment” because of their established market positions and ability to improve margins, the Wall Street bank said. Goldman also ranked the three companies in order of priority in a May 19 note to clients. 1. Amazon Amazon is at the top of Goldman Sachs as its stock has underperformed for years in the wake of Covid-19 and amid macroeconomic headwinds. Shares of the online retailer are down 38% since reaching an all-time high in July 2021. Consumers who subscribe to Amazon’s Prime service, which costs $139 a year, boosted spending, providing downside protection for the company’s largest revenue segment, Goldman said. The bank added that despite near-term challenges, cloud computing unit Amazon Web Services continues to offer multi-year growth opportunities. “Given the market debate, we will focus investors’ attention on the story of Amazon’s sustained multi-year margin improvement as it is the stock price,” analysts led by Eric Sheridan wrote in a note. Compounding more important drivers.” Note to client. Goldman Sachs expects Amazon shares to rise 43% to $165 a share in the next 12 months. Amazon shares closed at $115 on Monday. AMZN 1Y line 2. Uber Uber, which focuses on transportation services such as rides and food delivery around the world, was No. 2 on Goldman Sachs’ “Top Picks” list heading into the second half of the year. The bank said Uber is continuing to expand into delivery services as it recovers from pandemic-related setbacks in its mobile business. Uber will also be able to gradually improve profit margins by finding “synergies” in existing services, Goldman said. Shares of Uber have risen 58% this year, and analysts’ consensus price target could rise another 23% over the next 12 months, similar to Goldman Sachs’. 3. Meta Meta, formerly Facebook, is No. 3 on Goldman Sachs’ top picks list. The Wall Street bank remains bullish on the stock despite concerns about its long-term growth in an increasingly competitive social media environment. Goldman Sachs said Facebook still has unmonetized elements, such as messaging and short-form video, that could drive revenue growth once fully monetized. Meta is reportedly launching a new text-based service on Instagram that will compete with Twitter and potentially open up new sources of profit. The social media network’s revenue took a hit after changes to Apple’s privacy settings limited online user tracking. According to Goldman Sachs, Meta’s stock price is expected to rise 21% to $300 per share in the next 12 months.