Billionaire Ken Fisher’s Favorite Tech Stocks for Q3

#2. Apple Inc. (NASDAQ:AAPL)

– Shares owned by Fisher Asset Management as of June 30: 11.31 Million

– Value of Fisher Asset Management’s holding as of June 30: $1.10 Billion

Fisher Asset Management did not adjust significantly its position in Apple Inc. (NASDAQ:AAPL) during the three months that ended June 30, as the firm’s stake in the iPhone maker was reduced by a mere 312 shares quarter-over-quarter. Mr. Fisher’s investment firm has 11.31 million Apple shares in its portfolio as of the end of the second quarter, worth $1.10 billion as of June 30. Apple has lost 7% of its market value since the start of 2016 and analysts argue that the iPhone maker trades at a low price-to-earnings multiple and represents an attractive value play. However, investors are worrying about slowing iPhone sales, as well as lackluster new products. According to fresh estimates, the company’s line of Mac computers is not selling at the pace it used to, so Apple may need to launch a new laptop and other products to turn things around. Estimates show that Apple shipped 5%-to-8% fewer computers in the second quarter of 2016 than a year ago. Warren Buffett’s Berkshire Hathaway acquired a new stake of 9.81 million shares of Apple Inc. (NASDAQ:AAPL) during the first quarter.

#1. Amazon.com Inc. (NASDAQ:AMZN)

– Shares owned by Fisher Asset Management as of June 30: 1.98 Million

– Value of Fisher Asset Management’s holding as of June 30: $1.50 Billion

The multi-billion-dollar asset manager trimmed its stake in Amazon.com Inc. (NASDAQ:AMZN) by 20% during the second quarter of 2016 to 1.98 million shares. The reshuffled stake was valued at nearly $1.50 billion at the end of June. Amazon.com was the largest equity holding in Mr. Fisher’s portfolio on June 30, accounting for 2.8% of the entire value of that portfolio. Earlier this week, the e-commerce giant commenced its biggest operation of the year called “Amazon Prime Day”. The company introduced Prime Day last year as a one-day sale solely for members of its Prime subscription service. The so-called Prime Day offers existing subscribers a reason to spend more, simultaneously encouraging more consumers to come into the possession of the $99-per-pear Prime service. The e-commerce behemoth generated revenue in the range of $375 million-to-$400 million on last year’s Prime Day, with retail advisory firm FBIC anticipating this year’s Prime Day to generate $525 million in sales. Amazon shares are up 10% so far in 2016. Andreas Halvorsen’s Viking Global owned 3.44 million shares of Amazon.com Inc. (NASDAQ:AMZN) on March 31.

Disclosure: None