Fisher Asset Management’s Top Stock Picks

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#1 Amazon.com, Inc. (NASDAQ:AMZN)

Shares held (as of September 30): 2.5 million
Total Value (as of September 30): $1.28 billion
Percent of Portfolio (as of September 30): 2.66%

Investors like Amazon.com, Inc. (NASDAQ:AMZN) mainly because of the extraordinary success of company’s Amazon Web Services unit, which has dominated the cloud Infrastructure as a Service market so far. Margins are higher than expected, while growth is faster than estimates. In Amazon’s third quarter, the unit reported revenues of $2.09 billion, up 15% quarter-over-quarter and 78% year-over-year. Segment operating profit was an amazing $521 million. Given the large potential size of the cloud market, Amazon Web Services can continue growing at a fast rate for a long time yet. Meanwhile, Amazon shareholders don’t seem to care about profits in other units, giving Amazon a competitive advantage over its competitors in other sectors. Andreas Halvorsen‘s Viking Global owned 2.28 million shares at the end of the second quarter.

Follow Amazon Com Inc (NASDAQ:AMZN)

Disclosure:none

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