Amazon

I’ve owned Amazon (NASDAQ: AMZN) for a few years now. However, last month, I decided it was time to buy a few more shares.

Why did I invest more money in the company?

Well, one reason is that I’m excited by the tech giant’s artificial intelligence (AI) offerings. Recently, it launched a new service called ‘Bedrock’ that lets customers build their own generative AI tools (similar to ChatGPT). It believes this has the potential to improve “virtually every customer experience”.

Another reason is that after a huge pullback, Amazon shares are now trending up again. So, they have positive momentum.

It’s worth pointing out that this stock is expensive. Going forward, I expect it to be volatile. I think the investment here will pay off in the long term, however.

Edwards Lifesciences

Another stock I added to was Edwards Lifesciences (NYSE: EW). It’s an under-the-radar US-listed healthcare company that specialises in artificial heart valves and blood flow monitoring.

I see this one as a great play on the world’s ageing population. In older adults, heart disease is one of the most frequent medical conditions observed. So, I expect demand for Edwards’ heart valve products to be high in the years ahead.

This stock is also quite expensive. I’m comfortable with the valuation here, however, as this is a very profitable company with a great long-term track record.

It’s worth noting that Fundsmith took a small position in it late last year (most likely for the Smithson investment trust).

Estee Lauder

The new stock I bought was beauty giant Estee Lauder (NYSE: EL). I’ve wanted to own it for a long time. When it crashed in May on weak guidance, I took the opportunity to begin building a stake.

What I like about it is that it gives me exposure to a number of powerful themes including:

• Rising incomes in China and emerging markets
• The increasing focus on skincare
• Demand for make-up to look good on Zoom

Of course, this doesn’t mean my investment will pay off. The company is experiencing a few challenges right now due to China’s slow reopening.

But I expect it to recover, and see further success, in the years ahead.

Unilever

Finally, I took the opportunity to top up my holding in Unilever (LSE: ULVR). It owns Dove, Domestos, and a bunch of other household-name brands.

One reason I added here is that I wanted to boost my ‘defensive’ exposure. I have a lot of exposure to growth stocks at present. Unilever adds balance to my portfolio.

A second reason I added is that Unilever has raised its prices significantly recently (this hit me when shopping for Dove deodorant). I think that when inflation (in raw materials, packaging, transportation) starts to moderate, it could see a decent jump in earnings.

It’s worth noting that Unilever is about to get a new CEO and CFO. This adds some uncertainty in the near term.

I’m confident in the long-term story though.

The post 4 shares I’ve been buying for my ISA appeared first on The Motley Fool UK.