In this article, we discuss the 5 buy-the-dip stocks to buy according to billionaire Ken Fisher. If you want to read our detailed analysis of Fisher’s stock selection and the current sell-off in tech, go directly to 10 Best Buy-the-Dip Tech Stocks According to Billionaire Ken Fisher.
5. ASML Holding N.V. (NASDAQ:ASML)
Number of Hedge Fund Holders: 40
Fisher Asset Management’s 13F Portfolio: 1.75%
Fisher Asset Management’s Stake Value: $2.96 billion
ASML Holding N.V. (NASDAQ:ASML) is up next on Ken Fisher’s list of buy-the-dip tech stocks to buy. It is a provider of semiconductor manufacturing equipment to the world’s leading semiconductor producers. Fisher owned 4.44 million shares of the company in the first quarter of 2022, up 4% from the previous quarter’s stake of 4.27 million shares.
As of May 19, ASML Holding N.V.’s (NASDAQ:ASML) shares have lost 34.04% in the year to date, and currently trade at $526 on the Nasdaq stock exchange. On April 20, Summit Insights analyst KinNgai Chan gave ASML Holding N.V. (NASDAQ:ASML) a ‘Buy’ rating, stating that he views the firm as well-positioned for outperformance in the medium to long term, as demand for its EUV (extreme ultraviolet) tools increases as customers shift towards chips with even higher performance.
40 out of the 900+ hedge funds tracked by Insider Monkey owned positions worth $5.59 billion in ASML Holding N.V. (NASDAQ:ASML) at the close of the fourth quarter. This is down from 41 hedge funds in the previous quarter.
In the first quarter of 2022, ASML Holding N.V.’s (NASDAQ:ASML) quarterly revenue stood at $3.83 billion, outperforming estimates by $87.2 million. EPS of $1.88 was also above estimates by $0.06.
ClearBridge Investments talked about ASML Holding N.V. (NASDAQ:ASML) in its Q1 2022 investor letter. Here’s what the investment firm said:
“During the quarter, we reduced our semiconductor exposure through the trim of ASML (NASDAQ:ASML) to manage concerns of a slowdown due to the risk of double ordering and potential softness in some consumer end markets. We increased our position in IT services with the purchase of Accenture as we remain optimistic about the long-term growth potential these companies provide, which is underpinned by the compressed digital transformation cycle, rising cloud adoption and growth in data-driven insights.
Despite the market volatility and hyper focus on rising rates, chief information officer surveys continue to forecast resilience in IT budgets this year. Growth in IT spending for 2022 is expected to remain above the 10-year pre-COVID-19 average, according to Morgan Stanley. We believe this is a result of the strong secular underpinnings brought on by digital transformation and businesses focusing on increasing efficiencies through technology.”
