Billionaire Ken Fisher’s Top 13 Growth Stock Picks

7. Broadcom Inc. (NASDAQ:AVGO)

Fisher Asset Management’s Equity Stake: $5.54 Billion

Number of Hedge Funds Holding Stakes: 161

Broadcom Inc. (NASDAQ:AVGO) is a technology giant that designs and develops semiconductor and infrastructure software solutions. Its solutions are used in data centers, networking, software, broadband, wireless, storage and industrial sectors. It is one of the top growth stocks in Ken Fisher’s portfolio as it benefits from strong demand for its chips for use in data centers and cloud computing.

Broadcom Inc.’s (NASDAQ:AVGO) competitive edge stems from designing and developing application-specific integrated circuits (ASICs) that are task-specific instead of general-purpose graphics and central processing units. Consequently, it benefits from the growing demand for ASICs for use in AI software.

Broadcom Inc.’s (NASDAQ:AVGO) AI revenue increased by more than 300% in fiscal 2024 to $12.2 billion. The momentum continued in the fiscal 2025 first quarter as AI revenue increased 77% year-over-year to $4.1 billion. Further affirming Broadcom’s growth metrics is the fact that the serviceable addressable market (SAM) for its AI chips is expected to grow to between $60 billion and $90 billion over the next three fiscal years.