EQT Corporation (EQT), Amazon.com, Inc. (AMZN): Billionaire Steve Cohen’s Top Stock Picks for Q2

Visa Inc (NYSE:V) was another of SAC’s top stock picks with the filing disclosing ownership of 1.2 million shares. The credit card brand is another stock which looks a bit pricy to us: even with earnings per share expected to increase over the next couple years, Visa Inc (NYSE:V) trades at 21 times forward earnings estimates. In addition, bottom-line performance has not been too great recently with net income actually lower in its most recent quarter compared to the same period in the previous year (though revenue was up at a double-digit rate).

Cohen and his teamhad about 19 million shares of Micron Technology, Inc. (NASDAQ:MU) in their portfolio at the beginning of April. Micron Technology, Inc. (NASDAQ:MU), a $12 billion market cap company, manufactures semiconductors, which are used as data storage systems in computer and peripheral memory components. It has been unprofitable on a trailing basis, but the sell-side is looking for it to recover in the fiscal year ending in August 2014. While there is a range of outcomes, all analysts are expecting at least some positive earnings with consensus implying a forward P/E of 17.

Final thoughts

For better or worse, Steve Cohen is one of the most highly discussed hedge fund managers out there. All insider trading speculation aside, SAC Capital manages one of the largest equity portfolios in the game, and each of its top five picks warrants investors’ consideration. Micron Technology, Inc. (NASDAQ:MU) is an intriguing play on the semiconductor space, and although many bears proclaim this market a modern-day Tech Bubble, we’d caution against that line of thinking, as it’s very tough to call a bubble’s top. Visa Inc (NYSE:V), meanwhile, just one of three mobile payment companies any big-time investor tends to place his or her capital in, while Suncor, Amazon.com, Inc. (NASDAQ:AMZN) and EQT Corporation (NYSE:EQT) each hold dominant positions in their areas of expertise.

Disclosure: I own no shares of any stocks mentioned in this article.