In this piece, we will take a look at the five consumer technology stocks to invest in according to Ken Fisher’s Fisher Asset Management. If you want to learn more about the billionaire hedge fund investor and more stocks, then head on over to 10 Consumer Technology Stocks to Invest In According to Ken Fisher.
5. Meta Platforms, Inc. (NASDAQ:FB)
Fisher Asset Management’s Stake Value: $3.2 billion
Percentage of Fisher Asset Management’s 13F Portfolio: 1.8%
Number of Hedge Fund Holders: 224
Meta Platforms, Inc. (NASDAQ:FB) is a communications technology company headquartered in Menlo Park, California, United States. It offers a host of services that allow consumers to stay in touch with each other and share their daily lives with family and friends. The company also sells gadgets such as virtual reality headsets.
Fisher Asset Management held 9.5 million Meta Platforms, Inc. (NASDAQ:FB) shares during Q4 2021. These were worth $3.2 billion and they represented 1.8% of its investment portfolio. During the same time period, 224 of the 924 hedge funds polled by Insider Monkey had also held a stake in the company.
Meta Platforms, Inc. (NASDAQ:FB) brought in $33 billion in revenue and $3.67 in GAAP EPS by the end of its fiscal fourth quarter, in a mixed bag of results that saw it beat analyst revenue estimates but miss them for EPS. UBS raised its share price target to $300 from $280 in April 2022, as it outlined that expected earnings weakness is already priced into the share price and that changes made by the company to its services will reap dividends next year.
Meta Platforms, Inc. (NASDAQ:FB)’s largest investor after Fisher Investments is Boykin Curry’s Eagle Capital Management. It owns 6.9 million shares that are worth $2.3 billion.
Boyar Value Group mentioned the company in its fourth quarter 2021 investor letter. Here is what the fund said:
“Corporate executives can have many different reasons for selling shares (anticipation of tax law changes, philanthropy, diversification, and much more), but the sheer number of billionaire founders who sold shares in 2021 should raise eyebrows and might well be signaling a market top. Bloomberg’s Ben Steverman and Scott Carpenter report not only that Mark Zuckerberg of Meta Platforms Inc. (formerly known as Facebook) sold shares in his company almost every day last year but also that the founders of Google sold ~$3.5 billion worth of stock (the first time either Sergey Brin or Larry Page has sold shares since 2017).”
4. Alphabet Inc. (NASDAQ:GOOG)
Fisher Asset Management’s Stake Value: $5.6 billion
Percentage of Fisher Asset Management’s 13F Portfolio: 3.15%
Number of Hedge Fund Holders: 158
Alphabet Inc. (NASDAQ:GOOG) is the holding company of Google, which is best known for its online search engine. Google has a variety of services such as YouTube and Gmail. Additionally, it also sells consumer electronics products such as smartphones and speakers.
For its fiscal fourth quarter, Alphabet Inc. (NASDAQ:GOOG) reported $3.5 billion in revenue and $30.69 in GAAP EPS, beating analyst estimates for both. Tigress Financial raised the company’s price target to $3,670 from $3,540 in March 2022, as it stated that the company’s investments in artificial intelligence will enhance its services for consumers and businesses.
Fisher Investments owned 1.9 million Alphabet Inc. (NASDAQ:GOOG) shares during the fourth quarter of last year. These were worth $5.6 billion and represented 3.15% of its investment portfolio. Insider Monkey’s Q4 2021 survey of 924 hedge funds revealed that 158 had invested in the firm.
Chris Hohn’s TCI Fund Management is Alphabet Inc. (NASDAQ:GOOG)’s largest investor. It owns 2.9 million shares worth $8.5 billion.
Vulcan Value Partners mentioned the company in its fourth quarter 2021 investor letter. Here is what the fund said:
“In contrast, we made a different kind of mistake about a decade ago. Google, now Alphabet, performed very well for us while we owned it. The company kept outperforming our assumptions and we kept lowering them to be conservative. “Trees do not grow to the sky.” The stock kept going up and our value grew but did not keep pace with the stock. It hit our estimate of fair value and we sold it with a nice gain, patting ourselves on the back. We kept following the company and what they actually did over the next several years was roughly double the assumptions we used to value it. Therefore, our value was too conservative, and we sold it too cheaply, missing many years of compounding. Fortunately, we experienced some volatility several years ago that allowed us to purchase Alphabet (Google) again with a margin of safety.”
3. Amazon.com, Inc. (NASDAQ:AMZN)
Fisher Asset Management’s Stake Value: $7.2 billion
Percentage of Fisher Asset Management’s 13F Portfolio: 4.04%
Number of Hedge Fund Holders: 279
Amazon.com, Inc. (NASDAQ:AMZN) is primarily known for its online marketplace that connects buyers with a large variety of sellers, both large and small. The company also offers consumer electronics products such as readers and smart speakers.
Mr. Fisher’s investment firm held a $7.2 billion stake in Amazon.com, Inc. (NASDAQ:AMZN) as the fourth quarter of last year came to an end. This came via 2.1 million shares and represented 2.04% of its investment portfolio. Insider Monkey’s research covering 924 hedge fund holdings for the same time period revealed that 279 had owned the company’s shares.
Amazon.com, Inc. (NASDAQ:AMZN) earned $27.75 in EPS and $137 billion in revenue for its fiscal Q4, missing analyst revenue estimates and beating them for revenue. The company’s satellite internet division Kuiper, which aims to provide both ordinary users and firms with internet coverage, announced a mega launch contract with three different companies in April 2022.
Boykin Curry’s Eagle Capital Management is Amazon.com, Inc. (NASDAQ:AMZN)’s largest investor after Fisher Investments, holding 677,828 shares that are worth $2.3 billion.
Davis Funds mentioned the company in its fourth quarter 2021 investor letter. Here is what the fund said:
“Within the traditional growth category, growing euphoria has led to bubble prices for many companies, most especially those with new and unproven business models such as those discussed above. In contrast, our research focuses on a select handful of proven growth stalwarts whose shares still trade at reasonable valuations. For example, because of concerns about future litigation and regulation, several dominant internet businesses, including Amazon, trade at steep discounts to many unproven and unprofitable growth darlings that, in our view, trade at euphoric prices. While we expect a continued barrage of negative headlines around the company, as well as increased regulation in the years ahead, we do not expect a significant decline in its long-term profitability.”
2. Microsoft Corporation (NASDAQ:MSFT)
Fisher Asset Management’s Stake Value: $9 billion
Percentage of Fisher Asset Management’s 13F Portfolio: 5.05%
Number of Hedge Fund Holders: 262
Microsoft Corporation (NASDAQ:MSFT) is an American company best known for its Windows operating system which has enabled it to become one of the largest firms in the world. Not only is Windows the most widely used operating system in the world, but Microsoft Corporation (NASDAQ:MSFT) has diversified its business over the years and now sells gaming consoles and notebook computers.
For its fiscal second quarter, Microsoft Corporation (NASDAQ:MSFT) managed to post $51 billion in revenue and $2.48 in GAAP EPS, beating analyst estimates for both. Morgan Stanley kept a $372 price target for the company in February 2022, as it outlined that the company is on target to meet an EPS compounded annual growth rate of 18% for the next couple of years.
By the end of December 2021, Fisher Asset Management owned 26.8 million Microsoft Corporation (NASDAQ:MSFT) shares for a $9 billion stake that made up 5.05% of its investment portfolio. Insider Monkey’s Q4 2021 survey of 924 hedge funds revealed that 262 had bought stakes in the company.
After Fisher Asset Management, Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital is Microsoft Corporation (NASDAQ:MSFT)’s largest investor. It owns 17 million shares that are worth $5.7 billion.
Motiwala Capital mentioned the company in its fourth quarter 2021 investor letter, stating that:
“Microsoft (NASDAQ:MSFT) re-enters our portfolio after a long gap. MSFT sells enterprise and consumer software products as well as hardware products such as the Xbox video game console and Surface laptops. All business segments experienced double-digit revenue growth and earnings per share have compounded in the mid-double digits over the last 5 years. We believe MSFT continues this momentum in the years ahead.”
1. Apple Inc. (NASDAQ:AAPL)
Fisher Asset Management’s Stake Value: $11.3 billion
Percentage of Fisher Asset Management’s 13F Portfolio: 6.36%
Number of Hedge Fund Holders: 134
Apple Inc. (NASDAQ:AAPL) is one of the largest consumer electronics firms in the world. The company is best known for its iconic iPhone smartphone lineup, and it also has a host of other gadgets and services under its portfolio. These include notebook computers, headphones, and payments.
Mr. Fisher’s investment firm owned 63 million Apple Inc. (NASDAQ:AAPL) shares as part of his Q4 2021 portfolio. These were the largest holdings for Fisher Asset Management, and they represented 6.36% of the firm’s overall investments. During the same time period, Insider Monkey surveyed 924 hedge funds and found out that 134 had owned a stake in the company.
Apple Inc. (NASDAQ:AAPL) earned $0.21 in GAAP EPS and $123 billion in revenue by the end of its fiscal first quarter, beating analyst estimates for both. BofA kept a $215 price target for the company’s shares in March 2022, outlining that its iPhone trade in price analysis indicated strong demand.
Apple Inc. (NASDAQ:AAPL)’s largest shareholder is Warren Buffett’s Berkshire Hathaway which owns 887 million shares worth $157 billion.
ClearBridge Investments mentioned the company in its Q4 2021 investor letter which stated that:
“Despite these mixed emerging growth results, the ClearBridge Global Growth Strategy outperformed the benchmark due to resilience among our secular and structural growth holdings. The bulk of these contributions came from U.S. mega-cap growth stocks Apple and Microsoft which continued to uniquely act both offensively and defensively as they have through most of the pandemic.”
Disclosure: None. You can also take a look at 10 Best Dividend Stocks for College Students and 12 Best Large-cap Biotech Stocks To Buy Now.
