Billionaire Ken Fisher’s 5 Stock Picks with Huge Upside Potential

3. NVIDIA Corporation (NASDAQ:NVDA)

Ken Fisher’s Stake Value: $3.63 billion

Average analyst price target: $661.00

Average analyst price target upside: 41.35%

NVIDIA Corporation (NASDAQ:NVDA) has been the performer of the year among the technology stocks. The company stock has gained nearly 227% year-to-date. Even after such a massive gain, Wall Street analysts still see a 41.35% upside to NVIDIA Corporation (NASDAQ:NVDA)’s December 1 stock price.

NVIDIA Corporation (NASDAQ:NVDA) represented 2.05% of Ken Fisher’s stock portfolio in Q3, with nearly 6.35 million shares worth $3.63 billion. According to Insider Monkey’s database, 180 hedge funds had stakes worth $29.576 billion in the company.

O’keefe Stevens Advisory mentioned NVIDIA Corporation (NASDAQ:NVDA) in its Q3 2023 investor letter. Here is what the firm said:

“This quarter, we actively reduced our position in our favorite company, NVIDIA Corporation (NASDAQ:NVDA). Over the past several years, I have consistently noted the concentration of the top 5 holdings in our portfolio, with NVDA comprising 26% of the last quarter’s 40%. The business, management, and outlook are nothing short of excellent. The business has a dominant market share in a rapidly growing market with competition seemingly years behind, though, fighting hard to gain share. Gross margin is expected to exceed 70% in 2024 and expand in 2025, reflecting the premium customers pay for their advanced technology. Revenue growth of 30%+ on a $50B base and a return on equity over 50%. If this isn’t the best business in the world currently, certainly it is in the top 5.

Jensen is the reason we held onto the stock despite our unease about the valuation. Jensen came to the U.S. from Thailand and was sent to a boarding school in rural Kentucky for troubled youth by his aunt and uncle, who mistook it for a prep school. When buying an ownership stake in the business, we must ask ourselves who we partner with. Are they honest? Capable? Aligned?

Honest: Listening to Jensen (while promotional) is like a breadth of fresh air. He tells you how it is. When the business looked like it was headed for failure in 2009, Jensen reduced his salary to $1….” (Click here to read the full text)