Billionaire Ken Fisher’s Top 15 Stock Picks Heading into 2025

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

Fisher Asset Management’s Equity Stake: $8.32 Billion

Number of Hedge Funds Holding Stakes: 286

Amazon.com, Inc. (NASDAQ:AMZN) is a company that built its name as a retail giant on the sale of consumer products and advertising. It has since diversified its business empire with investments in cloud computing and the sale of electronic devices. About 38% of online sales in the US happen in the company’s online store. Consequently, the company is well-positioned to benefit from the growth of e-commerce industry sales.

Amazon.com, Inc. (NASDAQ:AMZN) is succeeding in fending off competition in online sales. The launch of ultra-cheap products through Amazon Haul has strengthened its edge in attracting more sales through the mobile-only marketplace.

Amazon.com, Inc. (NASDAQ:AMZN) also boasts the largest cloud computing unit. Amazon Web Services is emerging as a key growth and profit driver amid the digital revolution. Grandview Research expects the cloud market to grow by about 21% annually by 2030. Likewise, AMZN should be the biggest beneficiary as it controls 33% market share in the segment.

Amazon.com, Inc. (NASDAQ:AMZN) also invests in artificial intelligence solutions to enhance its cloud computing solutions. Consequently, AWS sales rose by 19% in the third quarter to $27.5 billion. The increase came as the company rolled out new services, improvements, and solutions for its cloud unit and e-commerce site.

Parnassus Core Equity Fund stated the following regarding Amazon.com, Inc. (NASDAQ:AMZN) in its Q3 2024 investor letter:

“Amazon.com, Inc. (NASDAQ:AMZN) ended the quarter slightly down, so our underweight position contributed to relative return. We added the stock after the share price declined significantly, and the timing of the purchase proved beneficial: after we initiated the position, shares rebounded strongly as sentiment around the consumer improved.”

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