Billionaire Ken Fisher’s Top 5 Stock Picks

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

Fisher Asset Management’s Holdings: $4,272,714,000
Percentage of Fisher Asset Management’s Portfolio: 2.58%

Amazon.com, Inc. (NASDAQ:AMZN) is a retail giant that sells consumer products and subscriptions online and in physical stores worldwide.

Amazon.com, Inc. (NASDAQ:AMZN) has featured on Fisher Asset Management’s portfolio since the third quarter of 2015.

In its investor letter for Q1 2023, Diamond Hill Capital provided a comment regarding Amazon.com, Inc. (NASDAQ:AMZN):

“We did have several strong performing stocks this quarter. Our top contributors to return included NVR, Amazon.com, Inc. (NASDAQ:AMZN), Alphabet, Microsoft and Booking Holdings, all of which posted double-digit gains.

Global online retailer Amazon reported mixed quarterly results as improvement in retail profitability was offset by weakening demand at AWS (Amazon Web Services). Management responded with another round of layoffs (focused in high-margin areas like AWS and advertising) that will help protect margins until cloud and ad demand improves. We believe Amazon’s competitive advantages will continue to grow and that the business has the potential to grow faster than the overall economy in the coming years.”

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