We recently published a list of Top 12 Tech Stocks to Buy According to Billionaire Ken Fisher. In this article, we are going to take a look at where Amazon.com, Inc. (NASDAQ:AMZN) stands against other top tech stocks to buy according to billionaire Ken Fisher.
Under the umbrella of Fisher Asset Management, Billionaire Ken Fisher has maintained a positive stance on technology stocks, particularly those within the “Magnificent Seven.” While emphasizing the strong performance of these large-cap growth companies, Fisher emphasizes that the ongoing bull market extends beyond just these high-profile names. According to him, the 2024 rally has been broader than it is generally perceived, with growth stocks, especially in tech and communication services, consistently outperforming their value and small-cap counterparts.
Ken Fisher’s discussion revealed a notable trend: tech stocks have tended to outperform during market upswings and underperform during downturns. This pattern, evident throughout the statistics of 2024, strengthens the theory that if investors believe in a continuing bull market, technology stocks will likely remain strong performers. Although they may not always lead the market consistently or across every metric, according to historical evidence, their overall performance consistently outshines most other sectors and groupings.
Fisher’s perspective suggested that while technology stocks may not dominate the market indefinitely, their performance still serves as a bellwether for broader market sentiment. He stated that investing in these companies is not about expecting perfection but recognizing that in bullish environments, they tend to deliver higher returns. At the same time, he warned against focusing too narrowly on these names, as the broader growth category spanning across sectors is also poised to benefit from favorable market conditions.
In summary, Fisher Asset Management’s investment approach shows confidence in the long-term prospects of technology stocks. Though Ken Fisher concedes there are no certainties in the market, he points to a clear directional relationship: when the market rises, these stocks tend to rise more; when it falls, they decline more. For Fisher, this reinforces the strategic value of maintaining strong exposure to tech-driven growth stocks in a bullish environment.
Our Methodology
We searched through Fisher Asset Management’s Q4 2024 13F filings to identify the top tech stocks that the firm is invested in. From the resultant data, we ranked the technology equities based on his hedge fund’s stake value in each holding. Additionally, we have mentioned the hedge fund sentiment around each stock using data from 1,009 hedge funds tracked by Insider Monkey in the fourth quarter of 2024.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
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Amazon.com, Inc. (NASDAQ:AMZN)
Number of Hedge Fund Holders as of Q4: 339
Fisher Asset Management’s Equity Stake: $9.91 Billion
In the current era dominated by artificial intelligence, Amazon.com, Inc. (NASDAQ:AMZN) has strategically woven the technology into the fabric of its core operations, including e-commerce, cloud computing, and digital advertising. This integration has played a pivotal role in the company’s robust financial performance throughout 2024. Amazon reported an 11% increase in total revenue, reaching $638 billion for the year. At the same time, net income surged 90% year-over-year to $5.53 per diluted share. A major contributor to this impressive performance was Amazon Web Services (AWS), which remains the company’s fastest-growing segment. AWS reported a 19% increase in revenue for Q4 2024, climbing to $28.8 billion, with operating income growing 47% to $10.6 billion. This growth is driven in part by Amazon’s investment in proprietary AI processors, application-specific integrated circuits (ASICs), which enhance performance and help lower operational costs.
Looking forward to 2025, Amazon.com, Inc. (NASDAQ:AMZN) plans to deepen its investment in infrastructure, with a specific focus on expanding same-day delivery facilities and enhancing its inbound logistics network. The company also aims to introduce more automation within its fulfillment centers and transportation systems to accelerate delivery speed and drive down costs. These investments are aligned with Amazon’s broader vision to maintain its competitive edge through AI and logistics innovation.
Investor confidence in Amazon.com, Inc. (NASDAQ:AMZN) remains high, as evidenced by notable institutional activity. By the end of Q4 2024, Fisher Asset Management held over 45 million shares in the company, valued at around $9.9 billion by the end of the year. Broader hedge fund interest also rose significantly, with 339 of the 1,009 funds tracked by Insider Monkey holding positions in Amazon, up from 286 in the previous quarter. These holdings were collectively worth nearly $69.04 billion, underscoring strong institutional belief in Amazon’s long-term growth potential, particularly as the company continues to lead in AI-driven innovation and infrastructure expansion.
Overall, AMZN ranks 4th on our list of top tech stocks to buy according to billionaire Ken Fisher. While we acknowledge the potential of tech companies, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than AMZN but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
