In this article, we will discuss the 14 Tech Stocks to Sell Now According to Ken Fisher.
On September 4, 2025, global markets were mostly higher as cooling U.S. labor data and dovish Federal Reserve comments pointed to a possible rate cut this month. As such, Wall Street indexes climbed alongside European equities, while Chinese bourses fell overnight as Beijing wanted to cool off the stock rally, particularly the tech sector, resulting in a 6% decline in the tech-heavy STAR 50 index, its steepest drop since April. While optimism exists in the broader market, cracks are showing in the fastest-growing tech companies. Salesforce tumbled nearly 5% after experiencing challenges in the monetization of its AI products. Similarly, Nvidia and other tech giants also failed to impress investors.
Amid this tech backdrop, it’s important to discuss Ken Fisher, son of growth-investing pioneer Philip Fisher, who is known for his emphasis on price-to-sales multiples as a measure of value. The investment strategist believes that sales are a much more reliable indicator of business strength than volatile earnings. Particularly, for the tech stocks, he treats spending on research like a commodity, preferring stocks with stronger fundamentals in relation to market cap.
With this background in mind, we will move to our list of the 14 Tech Stocks to Sell Now According to Ken Fisher.
Ken Fisher of Fisher Asset Management
Our Methodology
To curate our list of the 14 Tech Stocks to Sell Now According to Ken Fisher, we used Ken Fisher’s Fisher Asset Management portfolio for Q2 2025 to extract a list of technology stocks where he reduced his stake by at least 30% or more. Finally, we ranked these stocks in ascending order of the percentage of the stake sold. We also considered the hedge fund sentiment surrounding these stocks using Insider Monkey’s hedge fund database, which tracks over 1,000 hedge funds, as of Q2 2025.
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).
14. SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)
Percentage of stake sold by Fisher Asset Management in Q2 2025: 43%
Fisher Asset Management’s Q2 Stake Value: $7,924,542
Number of Hedge Fund Holders: 43
SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) is one of the 14 Tech Stocks to Sell Now According to Ken Fisher.
On September 2, 2025, SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) acquired Curo Fund Services, a South African fund administration leader, which manages over $170.4 billion in assets.
Under the deal, which is yet to be approved by the South African Competition Commission, around 300 Curo employees will join SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) in Cape Town. The fund already leverages SSNC’s fund accounting and asset servicing technologies and will operate independently within SS&C’s Global Investor & Distribution Solutions group.
SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) expects this move to enhance innovation, service delivery, and growth across South Africa and the African continent, while ensuring continuity for Curo’s existing clients.
SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) serves over 22,000 organizations globally by providing software and services for the financial services and healthcare industries.
13. Advanced Micro Devices, Inc. (NASDAQ:AMD)
Percentage of stake sold by Fisher Asset Management in Q2 2025: 44%
Fisher Asset Management’s Q2 Stake Value: $108,579,873
Number of Hedge Fund Holders: 113
Advanced Micro Devices, Inc. (NASDAQ:AMD) is included in our list of the 14 Tech Stocks to Sell Now According to Ken Fisher.
Bank of America reported on September 3, 2025, that Advanced Micro Devices, Inc. (NASDAQ:AMD), despite being an outperformer in the sector, has become the most under-owned U.S. semiconductor stock among active managers. Active ownership fell to 20% in August from 23% in May and 39% a year earlier.
Meanwhile, Advanced Micro Devices, Inc. (NASDAQ:AMD)’s relative weighting has gone down by 80% year-over-year compared to the S&P 500. This is in line with consensus forecasts, which project 22% sales growth and AMD’s continued gains over the Philadelphia Semiconductor Index. At the same time, the investment firm reiterated its ‘Buy’ rating on AMD, thanks to strong tailwinds from rising artificial intelligence adoption and the company’s sustained market share gains against Intel.
Advanced Micro Devices, Inc. (NASDAQ:AMD) focuses on designing and developing semiconductors, offering CPUs, GPUs, AI accelerators, and embedded solutions. It serves data centers, client computing, gaming, and specialized applications globally.
12. Salesforce, Inc. (NYSE:CRM)
Percentage of stake sold by Fisher Asset Management in Q2 2025: 48%
Fisher Asset Management’s Q2 Stake Value: $1,152,671,630
Number of Hedge Fund Holders: 121
Salesforce, Inc. (NYSE:CRM) is one of the 14 Tech Stocks to Sell Now According to Ken Fisher.
On August 29, 2025, Salesforce, Inc. (NYSE:CRM) Chair and CEO Marc Benioff sold shares worth $564,422 at prices ranging from $253.67 to $257.19. At the same time, Benioff exercised options to acquire 2,250 shares at $161.50, valued at $363,375.
However, Benioff remains highly invested in Salesforce, Inc. (NYSE:CRM), owning over 11.9 million shares and indirectly controlling over 10 million through the Marc Benioff Fund LLC and additional trust holdings. At the same time, the company continues to reinforce investor confidence in its long-term growth trajectory with robust fundamentals.
Salesforce, Inc. (NYSE:CRM) helps businesses globally to connect with customers, analyze data, and streamline operations across industries through its customer relationship management (CRM) and AI-powered enterprise software solutions. It is one of the stocks to sell.
11. Fidelity National Information Services, Inc. (NYSE:FIS)
Percentage of stake sold by Fisher Asset Management in Q2 2025: 48%
Fisher Asset Management’s Q2 Stake Value: $301,891
Number of Hedge Fund Holders: 49
Fidelity National Information Services, Inc. (NYSE:FIS) is included in our list of the 14 Tech Stocks to Sell Now According to Ken Fisher.
Fidelity National Information Services, Inc. (NYSE:FIS) won two top honors at the 2025 Global Finance Treasury and Cash Management Systems and Services Awards on August 28, 2025. This achievement underscores its leadership in treasury innovation.
Fidelity National Information Services, Inc. (NYSE:FIS)’s Treasury and Risk Manager – Integrity Edition secured the “Most Innovative Treasury Solution” award for AI-powered tools like Treasury GPT, while its Quantum Cloud Edition, unveiled in April 2025, earned the “Best Treasury Management Software” award for its cloud-native risk management capabilities.
These achievements follow Fidelity National Information Services, Inc. (NYSE:FIS)’s earlier recognition at the 2025 Treasury Management International Awards, highlighting its expertise in delivering advanced solutions that help treasurers protect liquidity, fight fraud, and manage volatility in an evolving financial landscape.
Fidelity National Information Services, Inc. (NYSE:FIS) helps institutions globally run, grow, and protect their operations with innovation and reliability by providing financial technology solutions that power payments, banking, and investments. It is one of the stocks to sell.
10. Oracle Corporation (NYSE:ORCL)
Percentage of stake sold by Fisher Asset Management in Q2 2025: 50%
Fisher Asset Management’s Q2 Stake Value: $1,943,128,257
Number of Hedge Fund Holders: 124
Oracle Corporation (NYSE:ORCL) is one of the 14 Tech Stocks to Sell Now According to Ken Fisher.
Oracle Corporation (NYSE:ORCL) announced on September 3, 2025, that NYC Health + Hospitals, which is the largest U.S. municipal healthcare system, will expand its use of Oracle Fusion Cloud Applications to optimize finance, supply chain, and HR processes.
With the integration of operations on a single cloud platform, NYC Health + Hospitals expects to reduce costs, enhance efficiency, and make staff available to focus more on patient care. Meanwhile, Oracle Corporation (NYSE:ORCL) emphasized how Fusion Applications’ quarterly updates and AI-driven insights will enable the healthcare provider to tackle industry complexities, from compliance to resource allocation.
NYC Health + Hospitals has leveraged Oracle Corporation (NYSE:ORCL)’s Oracle Fusion since November 2025. With this expansion, the healthcare system deepens its reliance on Oracle to drive innovation and improve healthcare delivery for over one million New Yorkers annually.
Oracle Corporation (NYSE:ORCL) offers integrated cloud applications and secure infrastructure, enabling organizations globally to streamline operations, embrace innovation, and scale with continuous updates across industries and regions. It is one of the stocks to sell.
9. Lam Research Corporation (NASDAQ:LRCX)
Percentage of stake sold by Fisher Asset Management in Q2 2025: 52%
Fisher Asset Management’s Q2 Stake Value: $43,755,373
Number of Hedge Fund Holders: 85
Lam Research Corporation (NASDAQ:LRCX) is included in our list of the 14 Tech Stocks to Sell Now According to Ken Fisher.
Morgan Stanley downgraded Lam Research Corporation (NASDAQ:LRCX) from ‘Equal Weight’ to ‘Underweight’ on September 1, 2025, reducing its price target from $94 to $92. The investment firm cites the company’s key growth drivers, China logic and NAND memory, which are expected to slow sharply following two robust years. Meanwhile, system shipment growth is projected to decline from 82% in 2025 to 3% in 2026.
Morgan Stanley did acknowledge Lam Research Corporation (NASDAQ:LRCX)’s strong track record, particularly a 23.68% revenue surge over the past year and significant NAND market share gains. However, the investment firm believes that weakening end-markets, especially in China, could impact its future performance.
Lam Research Corporation (NASDAQ:LRCX) offers deposition, etch, and cleaning solutions critical to integrated circuit fabrication by providing semiconductor processing equipment globally. It is one of the stocks to sell.
8. IQVIA Holdings Inc. (NYSE:IQV)
Percentage of stake sold by Fisher Asset Management in Q2 2025: 56%
Fisher Asset Management’s Q2 Stake Value: $1,410,491
Number of Hedge Fund Holders: 65
IQVIA Holdings Inc. (NYSE:IQV) is included in our list of the 14 Tech Stocks to Sell Now According to Ken Fisher.
On August 28, 2025, IQVIA Holdings Inc. (NYSE:IQV) partnered with Flagship Pioneering to accelerate the creation and growth of breakthrough life sciences companies.
This collaboration will offer Flagship’s biopharma ecosystem access to IQVIA Holdings Inc. (NYSE:IQV)’s extensive data assets, AI-driven analytics, and expertise across the entire drug development cycle, from discovery through commercialization. With a focus on drug development strategy, clinical execution, and asset valuation, the partnership aims to streamline innovation and improve the success rate of early-stage therapies.
IQVIA Holdings Inc. (NYSE:IQV) and Flagship both expect the deal to drive faster, more efficient drug development, eventually delivering transformative treatments to patients and creating long-term value in the life sciences sector.
With its clinical research, healthcare intelligence, and AI-powered insights, IQVIA Holdings Inc. (NYSE:IQV) helps life sciences companies accelerate medical innovation and improve patient outcomes globally. It is one of the stocks to sell.
7. Medtronic plc (NYSE:MDT)
Percentage of stake sold by Fisher Asset Management in Q2 2025: 70%
Fisher Asset Management’s Q2 Stake Value: $23,890,437
Number of Hedge Fund Holders: 62
Medtronic plc (NYSE:MDT) is one of the 14 Tech Stocks to Sell Now According to Ken Fisher.
On September 2, 2025, Medtronic plc (NYSE:MDT) announced that the FDA cleared its SmartGuard algorithm as an interoperable automated glycemic controller, allowing its integration with Abbott’s Instinct sensor for type 1 diabetes. At the same time, the company’s MiniMed 780G system also received approval for adults with insulin-requiring type 2 diabetes.
With these achievements, Medtronic plc (NYSE:MDT) marks the first FDA-approved automated insulin delivery system with Meal Detection Technology for type 2 diabetes patients. These are supported by clinical trials, which show improved HbA1c levels, greater time in range, and reduced diabetes distress.
Thus, Medtronic plc (NYSE:MDT), in collaboration with Abbott, is advancing its plans to build a smarter dosing ecosystem designed to ease daily management, enhance flexibility, and improve quality of life for millions of patients with diabetes.
Medtronic plc (NYSE:MDT), a global healthcare technology leader, delivers innovative therapies and devices that treat over 70 health conditions. It is one of the stocks to sell.
6. Revvity, Inc. (NYSE:RVTY)
Percentage of stake sold by Fisher Asset Management in Q2 2025: 75%
Fisher Asset Management’s Q2 Stake Value: $1,505,056
Number of Hedge Fund Holders: 27
Revvity, Inc. (NYSE:RVTY) is included in our list of the 14 Tech Stocks to Sell Now According to Ken Fisher.
Revvity, Inc. (NYSE:RVTY) launched its new In Vivo Imaging Center of Excellence in Morrisville, North Carolina’s Research Triangle, on September 2, 2025. With this launch, the company consolidates its expertise to accelerate next-generation imaging innovation.
With this achievement, Revvity, Inc. (NYSE:RVTY) expects to advance instruments and AI-driven software that enhance disease research workflows by bringing together teams specializing in machine learning, optics, micro-CT, ultrasound, and applied biology.
Revvity, Inc. (NYSE:RVTY) unveiled its IVIS optical systems, Quantum GC3 microCT, Vega preclinical ultrasound, and VivoJect targeted delivery system technologies at the site. By bringing multidisciplinary teams within one site, the company plans to transform imaging modalities, helping researchers investigate cancer progression, tissue morphology, and therapeutic efficacy.
Revvity, Inc. (NYSE:RVTY) offers advanced health science solutions across multi-omics, imaging, biomarkers, and informatics segments. It is one of the stocks to sell.
5. Paylocity Holding Corporation (NASDAQ:PCTY)
Percentage of stake sold by Fisher Asset Management in Q2 2025: 93%
Fisher Asset Management’s Q2 Stake Value: $1,316,888
Number of Hedge Fund Holders: 44
Paylocity Holding Corporation (NASDAQ:PCTY) is one of the 14 Tech Stocks to Sell Now According to Ken Fisher.
On August 22, 2025, Citizens JMP reaffirmed its ‘Market Outperform’ rating with a $270 price target on Paylocity Holding Corporation (NASDAQ:PCTY). The investment firm expressed confidence despite the company’s 12% year-to-date decline and competitive shifts, including Thoma Bravo’s $12.3 billion Dayforce acquisition. Furthermore, Citizens JMP cited the company’s strong market position and growth potential.
Meanwhile, on September 2, 2025, Paylocity Holding Corporation (NASDAQ:PCTY) announced a multi-year sponsorship with the Chicago Bulls. This sponsorship makes PCTY the team’s Official HCM Software Partner. With this collaboration, the company will streamline HR and payroll operations for the Bulls while also fueling community engagement through programs like an all-girls youth basketball clinic.
Paylocity Holding Corporation (NASDAQ:PCTY) automates processes, enhances workplace culture, and helps businesses attract, retain, and empower employees with its cloud-based HR, finance, and IT solutions. It is one of the stocks to sell.
4. Shopify Inc. (NASDAQ:SHOP)
Percentage of stake sold by Fisher Asset Management in Q2 2025: 95%
Fisher Asset Management’s Q2 Stake Value: $2,578,363
Number of Hedge Fund Holders: 69
Shopify Inc. (NASDAQ:SHOP) is included in our list of the 14 Tech Stocks to Sell Now According to Ken Fisher.
Cantor Fitzgerald reaffirmed its ‘Neutral’ rating on Shopify Inc. (NASDAQ:SHOP) with a $156 price target on August 27, 2025. The investment firm cited steady cross-border performance. Analyst Deepak Mathivanan highlighted the company’s cross-border transactions, which made up 15% of its total GMV in Q2 2025, while about 4% of global GMV was shipped under de minimis exemptions.
Furthermore, the analyst noted that Shopify Inc. (NASDAQ:SHOP) has not experienced significant changes in GMV levels from merchants using China’s de minimis exemption since regulatory shifts in May. The rating reflects a cautious stance, acknowledging the company’s global commerce flows while awaiting clearer catalysts for growth momentum.
Shopify Inc. (NASDAQ:SHOP), a commerce technology company, provides tools for businesses to sell, manage, and scale across online, offline, and international channels with integrated payments, shipping, and analytics. It is one of the stocks to sell.
3. Edwards Lifesciences Corporation (NYSE:EW)
Percentage of stake sold by Fisher Asset Management in Q2 2025: 97%
Fisher Asset Management’s Q2 Stake Value: $24,745,043
Number of Hedge Fund Holders: 65
Edwards Lifesciences Corporation (NYSE:EW) is one of the 14 Tech Stocks to Sell Now According to Ken Fisher.
In an announcement on August 29, 2025, Edwards Lifesciences Corporation (NYSE:EW) expressed its positive response to newly updated ESC/EACTS guidelines for severe aortic stenosis (AS), which recommend earlier treatment, including for asymptomatic patients, and lower the TAVR age threshold to 70.
Edwards Lifesciences Corporation (NYSE:EW), as the only company with an approved TAVR indication for asymptomatic severe AS in the U.S. and Europe, highlighted its critical EARLY TAVR trial and the CE Mark for its SAPIEN 3 platform.
Furthermore, Edwards Lifesciences Corporation (NYSE:EW) also presented data from the TRISCEND II study at the same ESC Congress, showing its EVOQUE tricuspid valve replacement significantly reduced heart failure hospitalizations at 18 months. The updated guidelines and clinical evidence strengthen the company’s leadership in structural heart innovation and expand access to transformative therapies.
Edwards Lifesciences Corporation (NYSE:EW) specializes in structural heart therapies, pioneering TAVR, mitral, and tricuspid innovations to improve outcomes and expand access for patients globally. It is one of the stocks to sell.
2. A. O. Smith Corporation (NYSE:AOS)
Percentage of stake sold by Fisher Asset Management in Q2 2025: 98%
Fisher Asset Management’s Q2 Stake Value: $2,632,240
Number of Hedge Fund Holders: 45
O. Smith Corporation (NYSE:AOS) is included in our list of the 14 Tech Stocks to Sell Now According to Ken Fisher.
On August 28, 2025, A. O. Smith Corporation (NYSE:AOS) appointed Paul Jones as senior vice president, general counsel, and chief compliance officer, effective October 1. Meanwhile, Jim Stern, who previously served as general counsel since 2007, will now serve the company in the role of executive vice president of corporate development and strategy, shifting his focus to long-term initiatives.
The leadership change reflects A. O. Smith Corporation (NYSE:AOS)’s planful succession approach, capitalizing on Jones’ deep legal expertise and Stern’s strategic vision. Meanwhile, analyst sentiment remained mixed as of the start of August. On August 11, 2025, Stifel reaffirmed its ‘Buy’ rating with an $89 target, while Citi maintained its ‘Hold’ rating with a $77 target on August 8.
O. Smith Corporation (NYSE:AOS), a leading global water technology company, focuses on new product development, global expansion, and strategic acquisitions and partnerships. It is one of the stocks to sell.
1. Yelp Inc. (NYSE:YELP)
Percentage of stake sold by Fisher Asset Management in Q2 2025: 99%
Fisher Asset Management’s Q2 Stake Value: $590,437
Number of Hedge Fund Holders: 25
Yelp Inc. (NYSE:YELP) is one of the 14 Tech Stocks to Sell Now According to Ken Fisher.
On August 11, 2025, Evercore ISI reduced its price target on Yelp Inc. (NYSE:YELP) from $44 to $37, maintaining an ‘In Line’ rating. The investment firm attributed the target reduction to macro headwinds, which are impacting its Services segment. Furthermore, the revised target followed the company’s Q2 results.
For the second quarter, Yelp Inc. (NYSE:YELP) recorded an 8% YoY growth in its revenue, slightly exceeding expectations. Meanwhile, adjusted EBITDA reached $100 million, while margins grew by 10%, beating forecasts. Despite these positives, the company lowered its 2025 revenue guidance as its Services and Restaurants, Retail & Other segments slowed. While Evercore believes that Yelp’s management forecasts are conservative, the investment firm warned that softer growth expectations weighed on longer-term forecasts.
With its platform, Yelp Inc. (NYSE:YELP) connects consumers with local businesses across categories such as dining, shopping, home services, beauty, health, and professional services. It is one of the stocks to sell.
While we acknowledge the potential of YELP to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than YELP and that has 100x upside potential, check out our report about this cheapest AI stock.
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