Billionaire Chris Rokos’ 10 Stock Picks with Huge Upside Potential

6. First Solar, Inc. (NASDAQ:FSLR)

Rokos Capital Management Stake Value: $1,434,201

Upside Potential as of May 7: 54.74%

Number of Hedge Fund Holders: 65

First Solar, Inc. (NASDAQ:FSLR) is the largest publicly traded solar modules manufacturer in the US. The company designs and manufactures photovoltaic (PV) solar panels and develops utility-scale solar power projects. Some of its products include thin-film solar modules, battery systems, and large solar farms.

First Solar, Inc. (NASDAQ:FSLR) reported Q1 2025 earnings in late April 2025; the results are solid. Gross margin was 41% (up from 37% in the prior quarter), and energy production reached 4.0 gigawatts. But despite these highlights, the company cut its full-year guidance. Earnings forecast was reduced to between $12.50 and $17.50 per share (down from $17 to $20), and revenue expectations were cut to $4.5-$5.5 billion (from $5.3-$5.8 billion).

CEO Mark Widmar indicated that while the company had anticipated some trade policy changes, the scale and depth of Trump’s tariffs were more disruptive than expected. This situation created a “significant economic headwind” for First Solar, Inc.’s (NASDAQ:FSLR) manufacturing facilities in India, Malaysia, and Vietnam. The company faces uncertainty regarding whether the tariffs will remain at 10% or increase after the president’s 90-day pause. This complicates the company’s ability to quantify precise tariff rates for module shipments.

On April 30, 2025, Jefferies downgraded the stock from “Buy” to “Hold” and reduced its price target to $127 from $202. The research firm cited concerns over the challenging near-term environment and margin compression.