In this article, we will discuss billionaire Ken Fisher’s 10 favorite tech stocks. If you want to skip reading our comprehensive analysis about Fisher’s history, investment philosophy, and hedge fund performance, you can go directly to Billionaire Ken Fisher’s 5 Favorite Tech Stocks.
Tech stocks continue to face a bloodbath amid a rising interest rate environment. However, long-term analysts believe that the current rotation out of tech stocks is bound to end in the near future and currently there is an opportunity to buy solid technology stocks that have long-term growth catalysts. Some of these stocks include Apple Inc. (NASDAQ:AAPL), Microsoft Corporation (NASDAQ:MSFT) and Amazon.com, Inc. (NASDAQ:AMZN). Goldman Sachs tech fund manager Brook Dane recently said in a program on CNBC that the current selloff in tech stocks has created an attractive buying opportunity.
Perhaps what differentiates an average investor from legends like Ken Fisher is the latter’s ability to not give in to the temptation of daily news. Despite the huge selloff, a cursory glance at Ken Fisher’s latest holdings reveal that the billionaire investor is holding huge stakes in notable technology companies.
Let’s analyze the Q1 2022 holdings data of Fisher’s hedge fund and find out which stocks Fisher likes the most.
Billionaire Ken Fisher’s 10 Favorite Tech Stocks
10. Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:TSM)
Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:TSM) is one of the most popular semiconductor stocks in the world. Ken Fisher’s hedge fund holds 26.2 million shares of the company, worth $2.73 billion. DigiTimes’ Monica Chen and Willis Ke recently said in a research report that Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:TSM) is expected to generate a revenue of NT$500 billion from fulfilling Apple (AAPL) orders in 2022, up from NT$405.4 billion in 2021. The stock is down 31% year to date. In addition to TSM, some other stocks Ken Fisher and other hedge funds are holding on to include Apple Inc. (NASDAQ:AAPL), Microsoft Corporation (NASDAQ:MSFT) and Amazon.com, Inc. (NASDAQ:AMZN).
9. American Express Company (NYSE:AXP)
Ken Fisher’s hedge fund owns 15.7 million shares of American Express Company (NYSE:AXP), as of the end of the first quarter. The total value of these shares was $2.9 billion. Earlier this year, the New York-based payment card services company upped its quarterly dividend by 20%. The dividend is payable on May 10, 2022, to shareholders of record as of Apr 8. Citi analyst Arren Cyganovich increased his price target for American Express Company (NYSE:AXP) to $190 from $187 but kept a Neutral rating on the stock.
8. Visa Inc. (NYSE:V)
Another notable technology stock in Ken Fisher’s Q1 2022 portfolio was Visa Inc. (NYSE:V), in which his fund has a $2.9 billion stake. Year to date Visa Inc. (NYSE:V) is down about 8%. Piper Sandler recently downgraded Visa Inc. (NYSE:V) on the back of fears that Europe could enter a recession in 2023. In Insider Monkey’s database of 924 hedge funds, 142 hedge funds had stakes in Visa Inc. (NYSE:V) as of the end of the fourth quarter of 2022, making the stock the 10th most popular company among elite funds. Like Apple Inc. (NASDAQ:AAPL), Microsoft Corporation (NASDAQ:MSFT) and Amazon.com, Inc. (NASDAQ:AMZN), Visa is also under pressure these days.
7. ASML Holding N.V. (NASDAQ:ASML)
Netherlands-based ASML Holding (NASDAQ:ASML) is a supplies photolithography systems which are used to make semiconductor chips. Ken Fisher’s hedge fund owns 4.4 million shares of the company. The total worth of these shares as of the end of March was about $3 billion. On April 29, ASML Holding (NASDAQ:ASML) declared a €3.70 per share final dividend. UBS analyst David Mulholland recently lowered his price target on ASML Holding (NASDAQ:ASML) to EUR 630 from EUR 685 and kept a Neutral rating on the stock.
Ken Fisher’s fund bought a stake in ASML Holding (NASDAQ:ASML) back in 2012. Since the last quarter of 2017, the fund has been increasing its hold in ASML Holding (NASDAQ:ASML).
6. Adobe Inc. (NASDAQ:ADBE)
Ken Fisher’s hedge fund bought a stake in Adobe Inc. (NASDAQ:ADBE) via 408,000 shares in the third quarter of 2018. The fund has since piled into the design tools and Cloud company consistently, ending the first quarter of 2022 with 6.54 million Adobe Inc. (NASDAQ:ADBE) shares, worth about $3 billion. In March, Exane BNP Paribas analyst Stefan Slowinski initiated coverage of Adobe Inc. (NASDAQ:ADBE) with an Outperform rating and $570 price target. Like Apple Inc. (NASDAQ:AAPL), Microsoft Corporation (NASDAQ:MSFT) and Amazon.com, Inc. (NASDAQ:AMZN), Adobe Inc. (NASDAQ:ADBE) is one of the notable tech stocks hedge funds are buying.
Click to continue reading and see Billionaire Ken Fisher’s 5 Favorite Tech Stocks.
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Disclosure: None. Billionaire Ken Fisher’s 10 Favorite Tech Stocks is originally published on Insider Monkey.
