Billionaire Ken Fisher’s Top 13 Growth Stock Picks

4. Amazon.com, Inc. (NASDAQ:AMZN)

Fisher Asset Management’s Equity Stake: $9.91 Billion

Number of Hedge Funds Holding Stakes: 338

Amazon.com, Inc. (NASDAQ:AMZN) has established itself as a global e-commerce and cloud computing giant. Its vast ecosystem encompasses retail, digital streaming, cloud computing, AI, and advertising services. The company has found a perfect approach to translate its competitive edge into one of the fastest-growing companies.

Amazon.com, Inc.’s (NASDAQ:AMZN) net sales for fiscal year 2024 rose by 11% to $638.0 billion as net income nearly doubled to $59.2 billion, or $5.53 per diluted share. Its North American e-commerce division, which enjoyed an especially prosperous holiday shopping season, was the primary driver of the solid financial results. Management expects the first quarter of 2025 to be top line with growth of between 5% and 9%, affirming underlying growth.

As it has been for many years now, AWS, the cloud computing division, remains a key driver of bottom-line growth. In fiscal 2024, the segment grew 19% year-over-year to $107.6 billion in revenue with an operating income of $39.8 billion. Additionally, Amazon.com, Inc. (NASDAQ:AMZN) is already pursuing growth opportunities in the cloud infrastructure segment as it has already unveiled its custom-made AI chip Trainium, designed to train generative AI models.