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 Salesforce, Inc. (NYSE:CRM) 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).
A customer service team in an office setting using the company’s Customer 360 platform to communicate with customers.
Salesforce, Inc. (NYSE:CRM)
Number of Hedge Fund Holders as of Q4: 162
Fisher Asset Management’s Equity Stake: $4.16 Billion
Salesforce, Inc. (NYSE:CRM) is a leading provider of cloud-based software solutions headquartered in San Francisco, California. The company continues to navigate 2025 with a focus on innovation; it recently introduced Agentforce 2dx, a next-generation AI-powered platform designed to enhance both customer service and internal employee workflows. This launch represents Salesforce’s ongoing efforts to evolve its product offerings in response to dynamic enterprise needs and to maintain its position at the forefront of AI-driven enterprise software solutions.
Investor confidence in Salesforce, Inc. (NYSE:CRM) remains resilient, as reflected by a notable increase in hedge fund participation. 162 hedge funds out of 1,009 in Insider Monkey’s database held stakes in the company, with a combined stake of $15 billion by the end of Q4 2024, as opposed to 116 hedge funds at the end of Q3 the same year, signaling growing institutional optimism about the company’s long-term strategic direction.
Salesforce, Inc. (NYSE:CRM) recently reported its financial results for the quarter ending in January 2024, revealing a mixed performance that fell short of analyst expectations. While the company exceeded earnings per share (EPS) forecasts, reporting $2.78 adjusted EPS versus the expected $2.61, its revenue of $9.99 billion narrowly missed the consensus estimate of $10.04 billion. Nevertheless, this represented a 7.6% year-over-year increase in revenue for the quarter ending January 31.
The company’s net income improved to $1.71 billion, or $1.75 per share, up from $1.45 billion, or $1.47 per share, in the same quarter the previous year. This gain highlights Salesforce, Inc. (NYSE:CRM)’s continued ability to expand profitability even amid softer-than-anticipated revenue performance. However, some of its core business segments underperformed relative to market expectations. For example, its largest revenue segment, Subscription and Support, generated $2.33 billion in service revenue, up about 8% year-over-year but below the $2.37 billion forecast.
Parnassus Growth Equity Fund stated the following regarding Salesforce, Inc. (NYSE:CRM) in its Q4 2024 investor letter:
“Salesforce, Inc. (NYSE:CRM) reported third-quarter results that exceeded analysts’ expectations, as the integration of AI technology across the customer relationship management software company’s product offerings has driven robust growth in new deals.”
Overall, CRM ranks 8th 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 CRM 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.
