5 Best Growth Stocks to Buy Today According to Billionaire Ken Fisher

In this piece, we will take a look at the five best growth stocks to buy according to billionaire Ken Fisher. If you want to learn more about Mr. Fisher and his hedge fund, then check out 12 Best Growth Stocks to Buy Today According to Billionaire Ken Fisher.

5. Intuit Inc. (NASDAQ:INTU)

Latest Price To Forward Earnings Ratio: 35.71

Intuit Inc. (NASDAQ:INTU) is a financial software company that enables businesses to manage payroll, maintain accounts, and conduct other tasks. Despite business stress in a high rate environment, it has beaten analyst EPS estimates in all four of its latest quarters and the shares are rated Strong Buy on average.

As of Q3 2023 end, 86 out of the 910 hedge funds surveyed by Insider Monkey had bought the firm’s shares. Intuit Inc. (NASDAQ:INTU)’s largest hedge fund shareholder is Ken Fisher’s Fisher Asset Management as it owns a $1.4 billion stake that comes via 2.4 million shares.

4. Advanced Micro Devices, Inc. (NASDAQ:AMD)

Latest Price To Forward Earnings Ratio: 38.36

Advanced Micro Devices, Inc. (NASDAQ:AMD) is a chip designer headquartered in Santa Clara, California. Its shares surged by more than 9% in December 2023 after the firm announced a slew of new A.I. products and shared that is the only one with an end to end A.I. product ecosystem.

During this year’s September quarter, 110 out of the 910 hedge funds profiled by Insider Monkey were Advanced Micro Devices, Inc. (NASDAQ:AMD)’s shareholders. Ken Fisher’s Fisher Asset Management was the biggest investor through its $2.8 billion investment.

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

Latest Price To Forward Earnings Ratio: 38.46

Amazon.com, Inc. (NASDAQ:AMZN) is an eCommerce retailer and cloud computing company. It is also one of the biggest players in the A.I. market right now through its chips and software. On this front, the firm further expanded its A.I. capabilities in December 2023 after it partnered up with Bigbear.ai Holdings, Inc. (NYSE:BBAI) to bring the latter’s A.I. capabilities to its supply chain management systems.

For their third quarter of 2023 shareholdings, 286 out of the 910 hedge funds surveyed by Insider Monkey had held a stake in the company. Amazon.com, Inc. (NASDAQ:AMZN)’s largest shareholder in our database is Ken Fisher’s Fisher Asset Management due to its $5.2 billion investment.

2. Costco Wholesale Corporation (NASDAQ:COST)

Latest Price To Forward Earnings Ratio: 40.32

Costco Wholesale Corporation (NASDAQ:COST) is an American discount retailer with a presence all over the country. The firm is due to report its first quarter earnings soon, and the results will shed light on the state of the U.S. economy as well as Costco Wholesale Corporation (NASDAQ:COST)’s development initiatives.

Insider Monkey dug through 910 hedge fund holdings for this year’s September quarter to discover that 65 had bought and owned Costco Wholesale Corporation (NASDAQ:COST)’s shares. Ken Fisher’s Fisher Asset Management was the biggest investor among these as it owned 2.7 million shares that are worth $1.5 billion.

1. Eli Lilly and Company (NYSE:LLY)

Latest Price To Forward Earnings Ratio: 47.85

Eli Lilly and Company (NYSE:LLY) is a pharmaceutical giant creating hype these days with its weight loss drug. However, the shares traded lower in December after a study revealed that people who had lost weight due to its weight loss drug Zepbound ended up regaining weight after discontinuing use.

By the end of Q3 2023, 102 out of the 910 hedge funds surveyed by Insider Monkey were the firm’s investors. Eli Lilly and Company (NYSE:LLY)’s largest shareholder is Ken Fisher’s Fisher Asset Management as it holds a $2.3 billion stake.

Disclosure: None. You can also take a look at 15 Undervalued S&P 500 Stocks Billionaires Are Loading Up On and 10 Best Bill Gates Stocks Other Billionaires Are Also Piling Into.

Follow Insider Monkey on Twitter