In this article, we will discuss Billionaire Ken Fisher’s 10 Technology Stock Picks with Huge Upside Potential.

Technology stocks have faced heightened volatility in 2025, with market sentiment swinging sharply in response to President Donald Trump’s aggressive trade policies. On April 3, tech shares endured their worst day since the COVID-19 pandemic as Trump announced sweeping tariffs on all imported goods, including a 34% duty on Chinese imports, exacerbating fears of a global trade war. An iPhone maker led the steep declines among the “Magnificent Seven,” plummeting over 9% due to its reliance on Chinese manufacturing. Other tech giants also fell between 8% and 9%, while semiconductor and PC companies recorded double-digit losses. The tech-heavy NASDAQ tumbled 6%, marking its worst session over five years and deepening its year-to-date loss to more than 14%.

Despite the recent turmoil, broader optimism about technology and growth stocks remains underpinned by longer-term trends. Notably, Ken Fisher of Fisher Asset Management has emphasized that while mega-cap tech firms often face headwinds, they tend to outperform during bullish cycles and reflect broader market confidence. He argues that 2024’s rally was more expansive than many recognize, with tech and communication services stocks leading growth across the board. While tech stocks often decline more in bearish periods, their historical track record of resilience and growth during recoveries continues to make them attractive for long-term investors. This underscores why, even amid significant volatility, tech stocks retain strategic value for portfolios, particularly when the market regains momentum.

Signs of a potential rebound appeared later in April, as major indexes recovered modestly on April 24, with tech shares helping lead the rally. Investors responded positively to reports that the U.S. and China had resumed trade talks, despite earlier denials from Beijing. Trump’s announcement that some tariffs might be rolled back helped ease immediate fears, although uncertainty remains high. Analysts noted that the recent tech selloff had left the market oversold, setting the stage for short-term gains. However, mixed earnings reports and rising costs across industries continue to fuel caution, reinforcing the unpredictable nature of trade policy’s impact on tech and broader equity markets.

Now that we have sufficient context, let’s analyze Ken Fisher’s 10 technology stock picks that have huge upside potential according to analysts.

Our Methodology

For this article, we scanned Fisher Asset Management’s Q4 2024 13F filings to identify billionaire Ken Fisher’s technology stock picks with the highest upside potential. We compiled the tech equities with upside potential higher than 27% at the time of writing this article and discussed why they stood out as sound potential investments. Finally, we ranked the stocks based on the ascending order of their upside potential. To assist readers with more context, we mentioned the hedge fund sentiment around each stock using data from 1,009 hedge funds tracked by Insider Monkey in the fourth quarter of 2024.

Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 363.5% since May 2014, beating its benchmark by 208 percentage points (see more details here).

Billionaire Ken Fisher’s 10 Technology Stock Picks with Huge Upside Potential

10. Broadcom Inc. (NASDAQ:AVGO)

Number of Hedge Fund Holders as of Q4: 161

Fisher Asset Management’s Equity Stake: $5.54 Billion 

Upside Potential as of April 30: 27.90%

Broadcom Inc. (NASDAQ:AVGO) is a leading American multinational technology company that designs, develops, and supplies a broad range of semiconductor and infrastructure software solutions. Its diverse product portfolio supports critical industries such as data centers, networking, wireless, broadband, storage, industrial systems, and enterprise software. The company plays a vital role in enabling high-performance connectivity and computing, particularly in the rapidly growing artificial intelligence (AI) and cloud infrastructure sectors.

In the first quarter of fiscal year 2025, Broadcom Inc. (NASDAQ:AVGO) delivered record-breaking financial results, with consolidated revenue reaching $14.9 billion—an increase of 25% year-over-year. This growth was fueled by a surge in demand for AI semiconductor solutions and infrastructure software. AI-related revenue alone climbed 77% year-over-year to $4.1 billion, while infrastructure software revenue rose 47% to $6.7 billion. Adjusted EBITDA also hit a new high of $10.1 billion, representing a 41% increase from the prior year. The company reported free cash flow of $6.0 billion, up 28% year-over-year, underscoring its strong cash generation capabilities. Broadcom ended the quarter with $9.3 billion in cash and cash equivalents and returned significant capital to shareholders with a $2.774 billion dividend payout on December 31, 2024.

For the future, Broadcom Inc. (NASDAQ:AVGO) projects continued momentum into the second quarter of fiscal 2025, driven by robust investment from hyperscale partners in AI data center infrastructure. The company anticipates second-quarter revenue to remain steady at approximately $14.9 billion, with adjusted EBITDA expected to account for around 66% of that revenue. CEO Hock Tan emphasized the sustained demand for AI XPUs and high-speed connectivity solutions, reinforcing Broadcom’s strategic positioning in the evolving AI-driven technology landscape.

Investor confidence in Broadcom Inc. (NASDAQ:AVGO) continues to grow, with institutional interest in the stock surging. As of Q4 2024, Fisher Asset Management held approximately 24 million shares of the company, valued at over $5.5 billion. Hedge fund interest in Broadcom has also increased, with 161 funds tracked by Insider Monkey holding stakes worth over $22.2 billion by the end of the fourth quarter, up from 128 funds in Q3.

Mar Vista U.S. Quality Select Strategy stated the following regarding Broadcom Inc. (NASDAQ:AVGO) in its Q1 2025 investor letter:

“We maintain a positive outlook on Broadcom Inc. (NASDAQ:AVGO) shares, despite recent stock price pressure stemming from two key concerns: (1) uncertainty around potential tariffs and the impact on global growth, and (2) investor skepticism regarding the return profile of large-scale AI capex investments by hyperscalers. This skepticism has been amplified by the efficiency gains recently demonstrated by DeepSeek, an unknown Chinese software company, which developed a competitive large language model at a much lower cost. These efficiency gains stoked fears that hyperscalers may have overbuilt AI infrastructure.

Broadcom maintains a strong competitive position in the custom AI ASIC market, as well as a disciplined capital allocation, most recently reflected in the VMWare acquisition. That deal is already delivering better than-expected top-line growth and margin expansion. Broadcom is the leading provider of custom AI ASICs and has been steadily diversifying its customer base beyond its initial anchor client, Alphabet. Many hyperscalers are interested in developing custom ASICs, which are tailored to specific computing tasks, given their lower costs and attractive performance attributes relative to general-purpose GPUs from providers like NVIDIA.

While we remain constructive on Broadcom’s long-term prospects, we did trim our position earlier in the quarter at higher levels to reallocate capital toward a more favorable risk-reward opportunity. Nonetheless, Broadcom remains a core holding in our portfolio and offers an attractive margin of safety. We believe the company is well-positioned to grow intrinsic value by +20% over the intermediate term.”

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

Number of Hedge Fund Holders as of Q4: 339

Fisher Asset Management’s Equity Stake: $9.91 Billion 

Upside Potential as of April 30: 30.92%

Amazon.com, Inc. (NASDAQ:AMZN) delivered robust financial results for the first quarter of fiscal 2025, continuing the momentum it built in 2024 despite a challenging macroeconomic environment shaped by renewed U.S. trade tariffs. The company reported earnings per share (EPS) of $1.59, significantly surpassing analyst expectations of $1.36, and marking a notable increase from $0.98 per share in the same quarter last year. Revenue for the quarter reached $155.67 billion, slightly ahead of the $155 billion analysts had forecast, and up from $143 billion year-over-year. Amazon’s advertising business was a standout performer, growing 19% in Q1 2025 and exceeding analyst projections, further underscoring the company’s strength in high-margin, scalable business segments.

This performance marks the third consecutive quarter that Amazon.com, Inc. (NASDAQ:AMZN) has exceeded analyst expectations. CEO Andy Jassy expressed optimism, stating, “We’re pleased with the start to 2025, especially our pace of innovation and progress in continuing to improve customer experiences.” These figures reflect Amazon’s continued operational discipline and leadership across its core businesses, including e-commerce, cloud computing, and digital advertising.

In alignment with its long-term growth strategy, Amazon.com, Inc. (NASDAQ:AMZN) is making an aggressive push into artificial intelligence. The company has outlined plans to allocate approximately $100 billion in capital expenditures in 2025, with a significant portion directed toward expanding its AI infrastructure. Amazon executives have stated that as AI inference costs decline, the company will accelerate investments in both its cloud and retail AI capabilities.

Investor sentiment toward Amazon remains strong. Fisher Asset Management, for instance, held 45.16 million shares valued at $9.91 billion by the end of Q4 2024. Broader institutional interest has also increased, with 339 hedge funds reporting stakes in Amazon.com, Inc. (NASDAQ:AMZN), up from 286 in the previous quarter. The collective value of these positions has reached nearly $69.04 billion, highlighting enduring confidence in Amazon’s long-term potential, particularly in AI-driven innovation and logistics efficiency. With an upside potential of 30.92%, Amazon is among Ken Fisher’s technology stock picks with huge upside potential.

Alger Spectra Fund stated the following regarding Amazon.com, Inc. (NASDAQ:AMZN) in its Q1 2025 investor letter:

“Amazon.com, Inc. (NASDAQ:AMZN) is a global technology company renowned for its expansive e-commerce platform, offering a vast array of products and services to consumers worldwide. Beyond online retail, Amazon generates revenue through its cloud computing division, Amazon Web Services (AWS), which provides scalable computing solutions to businesses and governments; subscription services like Amazon Prime, offering members benefits such as streaming content and expedited shipping; and advertising services that enable brands to reach targeted audiences on its platform. During the quarter, shares detracted from performance due to concerns surrounding U.S. President Donald Trump’s impending tariffs on imported goods, raising fears about increased operational costs and weaker consumer spending. Additionally, management’s lower-than expected fiscal first-quarter sales forecast and substantial planned investments—including a $100 billion commitment to AWS and AI infrastructure in 2025—further pressured sentiment regarding near term profitability. Despite the near-term share price weakness, we believe Amazon’s fundamentals remain strong given its diversified business model, continuous innovation, and dominant positions in high-growth areas like e-commerce and cloud computing.”