Top 12 Tech Stocks to Buy According to Billionaire Ken Fisher

4. 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.