In this article, we discuss the 12 best long-term stocks to buy according to Ken Fisher.
Ken Fisher is a prominent American billionaire investment analyst, author, and the founder of Fisher Asset Management, one of the biggest and most successful hedge funds in the world. Fisher was born in California in 1950. His net worth is estimated at over $11.2 billion, ranking him high on the list of richest Americans and global billionaires. Fisher’s early life was influenced by his father, Philip A. Fisher, a renowned stock investor. He pursued higher education at California State Polytechnic University, Humboldt, graduating in 1972 with an associate degree in economics. In 1979, Fisher founded Fisher Investments, which has grown into a global financial advisory firm managing close to $252 billion in 13F securities.
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Fisher’s influence extends beyond asset management. He authored the Portfolio Strategy column in Forbes from 1984 to 2016, making him the longest continuously running columnist in the magazine’s history. Currently, he contributes monthly columns to major publications worldwide, including the New York Post, The Daily Telegraph, and The Australian, among others. In addition to his columns, Fisher has authored 11 books on investing, with four becoming New York Times bestsellers. His work has significantly influenced investment strategies and financial planning. Notably, he popularized the price-to-sales ratio as a stock analysis tool and has been involved in groundbreaking work in behavioral finance.
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For this article, we selected stocks by combing through the 13F portfolio of Fisher Asset Management at the end of the fourth quarter of 2024. Only the companies that have been in the 13F portfolio of the fund consistently for the past three years were selected. These stocks are also popular among other hedge funds. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
Ken Fisher of Fisher Asset Management
Best Long-Term Stocks to Buy According to Ken Fisher
12. Advanced Micro Devices, Inc. (NASDAQ:AMD)
Number of Hedge Fund Holders: 96
Fisher Asset Management’s Stake: $2.9 billion
Advanced Micro Devices, Inc. (NASDAQ:AMD) operates as a semiconductor manufacturer. For the full year 2024, AMD reported record revenue of $25.8 billion, gross margin of 49%, operating income of $1.9 billion, and net income of $1.6 billion. In January, the company announced new gaming products to expand its leadership in desktop, mobile and handheld gaming and deliver incredible performance for the most demanding games. AMD unveiled new Ryzen 9900X3D and 9950X3D Series desktop processors, offering extraordinary performance for desktop gamers, as well as the second-generation handheld gaming PC processor – the Ryzen Z2, enabling top-tier performance for AAA titles on the go. In February, the company signed a Letter of Intent with France’s CEA to develop advanced, energy-efficient AI computing technologies for demanding fields like energy and medicine.
11. The Home Depot, Inc. (NYSE:HD)
Number of Hedge Fund Holders: 88
Fisher Asset Management’s Stake: $3.7 billion
Home Depot, Inc. (NYSE:HD) operates as a home improvement retailer. The firm reported sales of $40.2 billion for the third fiscal quarter of 2024, an increase of 6.6% from the third fiscal quarter of the prior year. In January, the company announced the acquisition of its 1.4 million-square-foot Savannah Distribution Center (DC) and more than 100 acres of adjacent land from the Savannah Economic Development Authority (SEDA). The distribution center typically employs around 250 associates. In January, the firm partnered with the US Soccer Federation as a strategic sponsor for 27 US National Teams, including Men’s, Women’s, Youth, and Extended teams. Through this partnership, US Soccer and The Home Depot will bring communities together by shining a spotlight on local Hometown Heroes who are creating a positive impact in their communities, engaging them as Gameday Ambassadors for unique matchday experiences at US Soccer matches.
10. Meta Platforms, Inc. (NASDAQ:META)
Number of Hedge Fund Holders: 262
Fisher Asset Management’s Stake: $3.9 billion
Meta Platforms, Inc. (NASDAQ:META) engages in the development of products that enable people to connect and share with friends and family. For the fourth quarter and full year 2024, revenue recorded was $48.39 billion and $164.50 billion, representing increases of 21% and 22% year-over-year, respectively. Revenue on a constant currency basis would have increased 21% and 23% year-over-year for the fourth quarter and full year 2024, respectively. In February, Business Today reported that the company was laying off almost 5% of its workforce on February 10, reported by several media outlets based on a leaked memo. The layoffs will be global, but employees in Germany, France, Italy, and the Netherlands will be exempt due to local regulations.
9. Eli Lilly and Company (NYSE:LLY)
Number of Hedge Fund Holders: 115
Fisher Asset Management’s Stake: $4 billion
Eli Lilly and Company (NYSE:LLY) develops and markets human pharmaceuticals. Revenue in the fourth quarter of 2024 increased 45% to $13.53 billion, driven by volume growth from Mounjaro and Zepbound, and non-incretin revenue grew by 20% compared to the fourth quarter of the previous year. In February, the company announced results from the VIVID-2 study, showing that most patients with moderately to severely active Crohn’s disease achieved long-term clinical and endoscopic improvements after two years of continuous treatment with Omvoh. It includes 43.8% of patients who had previously failed biological treatments. In February, Jomfruland reported that the company is revolutionizing diabetes care with an AI-driven metabolic analysis platform that personalizes glucose management, improving medication effectiveness and patient outcomes.
8. Walmart Inc. (NYSE:WMT)
Number of Hedge Fund Holders: 115
Fisher Asset Management’s Stake: $4.4 billion
Walmart Inc. (NYSE:WMT) engages in the operation of retail, wholesale, and other units worldwide. In the third quarter of the fiscal year 2024, strong revenue growth was 5.5%, with operating income growing faster at 8.2%. In February, Bloomberg reported that Walmart, America’s largest private employer, is eliminating hundreds of roles and closing one of its North Carolina offices as it continues to pull workers back to its main hubs in California and Arkansas. The initiative aims to consolidate the company’s corporate footprint.
7. Broadcom Inc. (NASDAQ:AVGO)
Number of Hedge Fund Holders: 161
Fisher Asset Management’s Stake: $5.5 billion
Broadcom Inc. (NASDAQ:AVGO) supplies semiconductor infrastructure software solutions. The firm’s fiscal year 2024 revenue grew 44% year-over-year to a record $51.6 billion, as infrastructure software revenue grew to $21.5 billion on the successful integration of VMware. The firm is a significant beneficiary in the AI sector, even amidst the emergence of DeepSeek’s advanced AI models. Broadcom’s dominance in the application-specific integrated circuits (ASICs) market, with an estimated 55% to 60% market share, positions it well to capitalize on this trend. ASICs are designed for specific tasks and are generally more cost-effective and power-efficient than GPUs. As companies seek to reduce their AI development costs, they are likely to turn to Broadcom’s custom AI chips, driving growth in the company’s AI-specific revenue.
6. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)
Number of Hedge Fund Holders: 186
Fisher Asset Management’s Stake: $5.6 billion
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) makes and sells integrated circuits and semiconductors. The company reported that on a consolidated basis, revenue for January 2025 was approximately NT$293.29 billion, an increase of 5.4% from December of the prior year and an increase of 35.9% from last year’s January. In February, Asia News Network reported that Taiwan’s TSMC launched full-scale production in Japan, the US, and Germany as part of the ‘silicon shield’ vs China. The firm has adopted a ‘silicon shield’ strategy to reduce the risk of Chinese aggression by concentrating production on the island, but it will also increase ties with other countries by spreading its production around the world.
5. Alphabet Inc. (NASDAQ:GOOG)
Number of Hedge Fund Holders: 174
Fisher Asset Management’s Stake: $9.6 billion
Alphabet Inc. (NASDAQ:GOOG) is a California-based technology company that owns and runs the internet search engine Google. In the fourth fiscal quarter of 2024, consolidated Alphabet revenues increased 12% year over year to $96.5 billion, reflecting robust momentum across the business. In February, BBC reported that Google’s parent company lifted a longstanding ban on artificial intelligence (AI) being used for developing weapons and surveillance tools. Alphabet has updated its ethical guidelines on AI, dropping a line that barred its use for creating technologies that could cause or are likely to cause overall harm. The firm believes in responsible development and deployment, stating that AI undoubtedly comes with its own risks and challenges, but it must be managed carefully throughout its lifecycle, from design and testing to deployment and iteration.
4. Amazon.com, Inc. (NASDAQ:AMZN)
Number of Hedge Fund Holders: 338
Fisher Asset Management’s Stake: $9.9 billion
Amazon.com, Inc. (NASDAQ:AMZN) operates as a technology conglomerate with core interests in the ecommerce business. In the fiscal year 2024, operating cash flow increased 36% to $115.9 billion for the trailing twelve months, compared with $84.9 billion for the trailing twelve months that ended in December of the prior year. In February, the company announced plans to invest over $100 billion in capital expenditures (CapEx) this year, focusing heavily on artificial intelligence (AI) advancements. This decision came despite the rise of DeepSeek, a Chinese AI startup known for developing highly efficient and cost-effective AI models that have stirred the tech industry. A large portion of Amazon’s CapEx is allocated to AI development with AWS – Amazon Web Service – which requires upfront investments in data centers and hardware to support the platform’s fast-paced growth.
3. Microsoft Corporation (NASDAQ:MSFT)
Number of Hedge Fund Holders: 317
Fisher Asset Management’s Stake: $11.9 billion
Microsoft Corporation (NASDAQ:MSFT) is a Washington-based technology company. The company recently reported that operating income in the fiscal year’s second quarter reached $31.7 billion, marking a 17% increase (16% growth in constant currency). In February, the company announced its plans to spend PLN 2.8 billion by June 2026 to expand its hyperscale cloud and artificial intelligence (AI) infrastructure in Poland, as well as collaborate with Polish National Defense to establish a framework to strengthen national cybersecurity. The investment will support the growth of the existing data center campuses, bringing an expanding set of Azure services to meet the demand of customers in the region.
2. NVIDIA Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holders: 223
Fisher Asset Management’s Stake: $13.2 billion
NVIDIA Corporation (NASDAQ:NVDA) provides graphics, computing and networking solutions. The company reported that in fiscal 2024, revenue surged 126% to $60.9 billion, while GAAP earnings per diluted share soared 586% year-over-year to $11.93. Non-GAAP earnings per diluted share were $12.96, up 288% from a year ago. In February, the company reported that computational biologists conducted research using AI to create proteins that neutralize lethal snake venom more effectively than traditional antivenom. They used NVIDIA’s Ampere architecture and L40 GPUs to power deep learning models like RFdiffusion and ProteinMPNN, generating millions of potential antitoxin structures through computer simulations. Instead of testing countless proteins in the lab, they used AI tools to predict how these designer proteins would interact with snake venom toxins, which may reshape the AI-designed medicine world.
1. Apple Inc. (NASDAQ:AAPL)
Number of Hedge Fund Holders: 166
Fisher Asset Management’s Stake: $14.8 billion
Apple Inc. (NASDAQ:AAPL) is a consumer electronics firm. According to the fourth quarter of 2024, strong business performance in the September quarter generated nearly $27 billion in operating cash flow, enabling the company to return over $29 billion to the shareholders. In mid-February, Forbes reported that the company had released a new budget iPhone. The device comes with a price increase from the current $429 and features Apple Intelligence, along with a design similar to the iPhone 14. It is the first iPhone to include Apple’s in-house modem, a project the company has been working on for years. While Qualcomm has supplied modems for previous models and renewed its contract with Apple in September of the prior year, the company is gradually shifting toward its own technology.
While we acknowledge the potential of Apple Inc. (NASDAQ:AAPL) as an investment, our conviction lies in the belief that some stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for a stock that is more promising than Apple Inc. (NASDAQ:AAPL) but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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