Billionaire Ken Fisher’s Top 5 High-Growth Stock Picks

2. Amazon.com Inc (NASDAQ:AMZN)

Fisher Asset Management’s Stake: $7.1 Billion

Number of Hedge Fund Holders: 353

EPS Growth Next 5 Years: 21.61%

Amazon.com Inc (NASDAQ:AMZN) is one of billionaire Ken Fisher’s top high growth stock picks. Analysts see Amazon shares gaining at least 30% over the next 12 months.

On June 7, UBS reaffirmed its Buy rating on Amazon.com Inc (NASDAQ:AMZN) stock. For this call, the firm cited Amazon’s growing cloud business amid AI-driven demand for computing capacity.

UBS said Amazon’s cloud revenue sales increased 28% year-over-year to $37.6 billion in Q1 2026. It noted that this growth represents an 11-point acceleration over the same period a year ago. The firm further pointed out that Amazon has posted four consecutive quarters of strong sequential cloud revenue growth.

On potential cloud revenue, UBS noted that Amazon’s backlog stood at a massive $364 billion at the end of Q1. The firm further said that 62% of Amazon’s cloud backlog, or $225 billion, is tied to the commitment for the company’s custom AI chips known as the Trainium.

Amazon’s cloud operating margin held at 38% in Q1. The company’s annualized cloud AI revenue increased more than 100% in Q1. In a UBS survey, the Amazon cloud was found to be preferred by 53% of enterprises for AI infrastructure. Amazon’s AI development platform, called the Amazon Bedrock, is now used by 125,000 customers, UBS noted. These include 80% of Fortune 100 companies.

Amazon.com Inc (NASDAQ:AMZN) is a multinational technology company. While Amazon is best-known for its namesake online marketplace, the company is also a leading provider of cloud computing services. It also runs media and entertainment businesses.

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