5 Best Stocks to Buy Now According to Billionaire Ken Fisher

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

Fisher Asset Management’s Stake Value: $7,703,509,000

Percentage of Fisher Asset Management’s 13F Portfolio: 4.54%

Number of Hedge Funds as of December 31: 279

Amazon.com, Inc. (NASDAQ:AMZN) is a Seattle, Washington-based e-commerce company that has branched out into artificial intelligence, cloud computing, digital streaming, and electric vehicles. During Q1 2022, Fisher Asset Management increased its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 10%, which is the biggest increase in holdings among the top 10 holdings.

Miller Value Partners discussed its stance on Amazon.com, Inc. (NASDAQ:AMZN) in its Q1 2022 investor letter. Here’s what is said:

“For frame of reference, Amazon (NASDAQ:AMZN) bottomed at the same valuation in the financial crisis (side note: Amazon bottomed at 4x EV/GP after the tech bubble burst)! So there’s historical precedent for the lows being in. We will see whether that holds true this time. Regardless, we think there’s significant upside over a 5-year time horizon. The one other topic I want to briefly address is our volatility. We hope to write something about the topic in more depth in the future, but we want our clients and prospective investors to understand our views on it. We think that volatility is significantly misunderstood. We believe it creates opportunities from which we can profit.”

As of Q4 2021, 279 hedge funds held a stake in Amazon.com, Inc. (NASDAQ:AMZN).