5 Best Stocks to Buy According to Billionaire Ken Fisher

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

Number of Hedge Fund Holders: 271

The world’s largest e-commerce platform Amzon.com Inc. (NASDAQ: AMZN) is the third-largest stock holding of billionaire Ken Fisher’s portfolio. At the end of the second quarter, his firm held a $6.45 billion worth of stake in the e-commerce platform. Shares of Amazon bounced back during the second quarter after experiencing volatility at the beginning of the year.

In its second-quarter investor letter, Nelson Capital Management, an investment management firm, commented on a few stocks including Amazon. Here is what Nelson Capital Management stated

“In the consumer discretionary sector, we trimmed pandemic winners in favor of companies we believe will outperform in a recovery period. We reduced our position in Amazon following its stellar performance through the pandemic. Though we believe online shopping is here to stay, we think some portion of consumer wallet share will transition to services and experiences.”