In this article, we will discuss: Billionaire Ken Fisher’s Latest Portfolio: 5 Best Stocks to Buy. For more stocks, you can head to Billionaire Ken Fisher’s Latest Portfolio: 10 Best Stocks to Buy.
5. Amazon.com, Inc. (NASDAQ:AMZN)
Fisher Investments’ Stake: $7.1 billion
eCommerce and cloud computing giant Amazon.com, Inc. (NASDAQ:AMZN)’s shares are up by 22% over the past year and by 12.2% year-to-date. It is one of the major players in the cloud computing industry and targets the needs of the AI sector via its computing infrastructure and Trainium custom AI chips. One of Amazon.com, Inc. (NASDAQ:AMZN)’s closest partners in the AI industry is AI lab Anthropic. The pair has deals in place where Anthropic will spend more than $100 billion to utilize the firm’s cloud computing services. For its part, Amazon.com, Inc. (NASDAQ:AMZN) will invest as much as $25 billion in Anthropic, with a large portion of the investment based on performance milestones.
Amazon.com, Inc. (NASDAQ:AMZN) has a forward P/E ratio of 25.64, which is lower than the total market’s forward ratio of 27.66. Truist discussed the firm on May 29th as it raised the share price target to $320 from $310 and kept a Buy rating on the stock. AWS revenue estimates and Amazon.com, Inc. (NASDAQ:AMZN)’s partnerships with Anthropic and OpenAI factored into the coverage.
Vulcan Value Partners discussed Amazon.com, Inc. (NASDAQ:AMZN) in its Q1 2026 investor letter:
“There were seven material detractors to performance: Ares Management Corporation, Ryan Specialty Holdings, Inc., Microsoft Corporation, Salesforce, Inc., UnitedHealth Group Incorporated, Amazon.com, Inc. (NASDAQ:AMZN), and SAP SE. Amazon reported strong results for its fiscal year and fourth quarter. During the fourth quarter, AWS’s revenue increased 24% and highly profitable advertising revenue grew 22%. AWS is benefitting from AI driven demand for its cloud services and its growth is accelerating. In addition, Amazon is aggressively building out its promising Leo satellite service that will compete with Starlink. As a result, Amazon’s capital spending is forecast to increase over 50% in 2026 to approximately $200 billion. We expect a solid return on this capital spending. Bears believe that Amazon is investing too much money in capital spending. Our view is that it is a darn good problem to have and that Amazon will become even more competitively entrenched as the leading cloud services provider in the world.”
4. Microsoft Corporation (NASDAQ:MSFT)
Fisher Investments’ Stake: $9.6 billion
Technology giant Microsoft Corporation (NASDAQ:MSFT) is perhaps one of the weakest performers in Fisher Investments’ portfolio. The shares are down by 7.8% over the past year and by 9.7% year-to-date. The firm has been in the news lately following its latest Build conference. The event saw Microsoft Corporation (NASDAQ:MSFT) make a host of crucial announcements, which covered sectors such as quantum computing, artificial intelligence, and agentic computing. On the quantum computing front, the firm announced its Majorana 2 chip, which claims to make qubits a thousand times more reliable compared to its predecessor. It also announced Microsoft Scout, a new personal AI system and Project Solara, a platform for agentic computing.
Microsoft Corporation (NASDAQ:MSFT)’s shares trade at a forward P/E multiple of 19.46, which is significantly lower than the market’s 27.66 due to the weakness in the shares in 2026.
One of Microsoft Corporation (NASDAQ:MSFT)’s biggest critics in 2026 has been CNBC’s Jim Cramer. In an appearance on Mad Money on May 5th, he remarked:
“It’s hard to see that because the other publicly traded companies in the data center race, Microsoft and Meta, seem at this point to be, well, losers or at least their stocks… Microsoft appears stuck with old software that has fallen out of favor with the market. And Meta doesn’t have a cloud business to help offset the losses from the myriad AI initiatives away from Facebook, Instagram, and WhatsApp. Really smart Ray-Bans, I love them, I love them, don’t get me wrong, aren’t going to bring the profits, a cloud business would for the quizzical Meta. Even as sales from traditional businesses were spectacular this quarter, nobody cared.”
3. Alphabet Inc. (NASDAQ:GOOGL)
Fisher Investments’ Stake: $11.3 billion
Technology giant Alphabet Inc. (NASDAQ:GOOGL)’s shares are among the top performers in Fisher Investments’ portfolio. They are up by 121% over the past year and by 18% year-to-date. The firm started June on a strong note after it announced a $80 billion equity investment round, out of which $10 billion would come from Warren Buffett’s Berkshire Hathaway. Alphabet Inc. (NASDAQ:GOOGL) announced that through the investment, it intends to “fund investments in its world-class AI compute infrastructure to meet its unprecedented customer demand.” The capital raise came after the firm had raised its capital expenditure forecast to 180 billion and $190 billion from an earlier $175 billion to $185 billion in April.
Alphabet Inc. (NASDAQ:GOOGL) trades at a forward P/E ratio of 25, which is a bit lower than the market’s 27.66. The ratio is still higher than Microsoft’s stock, which has a multiple of 19.46.
Alpha Wealth Insiders Fund discussed Alphabet Inc. (NASDAQ:GOOG) in its Q1 2026 investor letter:
“Business: Alphabet Inc.’s (NASDAQ:GOOG) dominant market share and broad scope are often underestimated. The Company is now the 2nd most valuable company in the world, last holding this distinction in 2019. I have been saying for some time that Google will become the most valuable company in the world and won’t have anyone in the rear view mirror for the foreseeable future. I view Alphabet as today’s Berkshire, except stronger as its portfolio businesses are in growth mode and have moonshot potential.
Search Engine Market Share: This is Google’s largest business as of April 2026, ~89.8% to 91.4% Google remains the undisputed leader in the global search market, though its “position” is evolving due to the rise of Generative AI. (Statcounter Global Stats).Fears of ChatGPT disrupting search have largely given way to Google’s own AI disrupting itself…” (Click here to read the full text)
2. Apple Inc. (NASDAQ:AAPL)
Fisher Investments’ Stake: $14.3 billion
Consumer electronics giant Apple Inc. (NASDAQ:AAPL)’s shares are up by 53% over the past year and by 14% year-to-date. The firm was at the center of coverage from several analysts in May. For instance, Melius Research raised the share price target to $385 from $355 ahead of the firm’s highly anticipated WWDC conference in June. Some of the factors that Melius noted in its coverage about Apple Inc. (NASDAQ:AAPL) included the growing uptick in consumer preference for voice commands and the unique value proposition of offering consumers hardware and software under a single roof.
Like Melius, Evercore ISI also raised Apple Inc. (NASDAQ:AAPL)’s share price target. It bumped the target to $365 from $330 and kept an Outperform rating on the stock. The financial firm praised Apple Inc. (NASDAQ:AAPL)’s high prices and noted the potential for monetizing AI, among other factors.
Apple Inc. (NASDAQ:AAPL) was briefly featured in Impax US Sustainable Economy Fund’s Q1 2025 investor letter for QUALCOMM Incorporated (NASDAQ:QCOM):
“QUALCOMM Incorporated (NASDAQ:QCOM) (Information Technology, Semiconductors) is held due to its best-in-class Corporate Resilience score, scoring highly from Environment & Social factors as well as Governance. The stock is also well positioned from a sustainability opportunity perspective with high scores on Digital Infrastructure and Resource Efficiency. Underperformance was driven by a sharp sell-off after record fiscal Q1 results were overshadowed by deeply disappointing forward guidance, as AI data center demand has created industry-wide memory shortages. Apple’s accelerating development of in-house modem chips threatens Qualcomm’s largest customer relationship, and escalating US-China trade tensions create meaningful uncertainty around its substantial China revenue exposure.”
1. NVIDIA Corporation (NASDAQ:NVDA)
Fisher Investments’ Stake: $15.4 billion
Given the crucial role that it plays in the AI ecosystem, it is unsurprising that NVIDIA Corporation (NASDAQ:NVDA) is the top stock in Fisher Investments’ portfolio. June is a crucial month for the firm as it kicked it off by holding the much talked about GTC conference in Taipei, Taiwan. The event saw NVIDIA Corporation (NASDAQ:NVDA) focus on agentic AI computing as the event came at a time when the market was focused on its impact on CPU demand. A key announcement at the GTC was NVIDIA Corporation (NASDAQ:NVDA)’s RTX Spark CPU which will feature in Windows laptops and is designed for agentic AI use.
NVIDIA Corporation (NASDAQ:NVDA) currently trades at a forward P/E ratio of 24.57 which is slightly lower than the market’s 27.66. Tigress Financial discussed the firm on May 27th as it raised the share price target to $426 from $360 and kept a Strong Buy rating on the stock. The firm based its coverage on NVIDIA Corporation (NASDAQ:NVDA)’s position in the AI factory ecosystem.
Weitz Investment Large Cap Equity Fund discussed NVIDIA Corporation (NASDAQ:NVDA) in its Q1 2026 investor letter:
“One takeaway from our ongoing portfolio analysis was that we did not have enough exposure to “what could go right?” stocks. Over the years, our team has done extensive work on companies with exceptional or plainly improving business trends. Along the way, we have tried to follow Mr. Buffett’s advice not to “pay a very high price for a cheery consensus” for their stocks. And, in many cases, we have been left in the dust. The “March Madness” market turmoil gave us a chance to own five new “on deck” companies at reasonable-to-good prices across a range of scenarios.
Over time, our investment team has built a deep knowledge base within the semiconductor industry. Three of our five new portfolio additions reside in the semiconductor value chain. The AI data center infrastructure buildout has been “the” theme of the past few years, and it is no stretch to say that ASML, Taiwan Semiconductor, and NVIDIA Corporation (NASDAQ:NVDA) have been three of the best companies in the world. NVIDIA has a linchpin position in the accelerated computing revolution, with a complete ecosystem fueled by an integrated hardware and software platform.” (Click here to read the full text)”
While we acknowledge the potential of NVDA to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NVDA and that has 100x upside potential, check out our report about the cheapest AI stock.
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