We recently published an article titled Billionaire Ken Fisher’s 10 Technology Stock Picks with Huge Upside Potential. In this article, we are going to take a look at where JD.com, Inc. (NASDAQ:JD) stands against the other technology stocks.

Technology stocks have faced heightened volatility in 2025, with market sentiment swinging sharply in response to President Donald Trump’s aggressive trade policies. On April 3, tech shares endured their worst day since the COVID-19 pandemic as Trump announced sweeping tariffs on all imported goods, including a 34% duty on Chinese imports, exacerbating fears of a global trade war. An iPhone maker led the steep declines among the “Magnificent Seven,” plummeting over 9% due to its reliance on Chinese manufacturing. Other tech giants also fell between 8% and 9%, while semiconductor and PC companies recorded double-digit losses. The tech-heavy NASDAQ tumbled 6%, marking its worst session over five years and deepening its year-to-date loss to more than 14%.

Despite the recent turmoil, broader optimism about technology and growth stocks remains underpinned by longer-term trends. Notably, Ken Fisher of Fisher Asset Management has emphasized that while mega-cap tech firms often face headwinds, they tend to outperform during bullish cycles and reflect broader market confidence. He argues that 2024’s rally was more expansive than many recognize, with tech and communication services stocks leading growth across the board. While tech stocks often decline more in bearish periods, their historical track record of resilience and growth during recoveries continues to make them attractive for long-term investors. This underscores why, even amid significant volatility, tech stocks retain strategic value for portfolios, particularly when the market regains momentum.

Signs of a potential rebound appeared later in April, as major indexes recovered modestly on April 24, with tech shares helping lead the rally. Investors responded positively to reports that the U.S. and China had resumed trade talks, despite earlier denials from Beijing. Trump’s announcement that some tariffs might be rolled back helped ease immediate fears, although uncertainty remains high. Analysts noted that the recent tech selloff had left the market oversold, setting the stage for short-term gains. However, mixed earnings reports and rising costs across industries continue to fuel caution, reinforcing the unpredictable nature of trade policy’s impact on tech and broader equity markets.

Our Methodology

For this article, we scanned Fisher Asset Management’s Q4 2024 13F filings to identify billionaire Ken Fisher’s technology stock picks with the highest upside potential. We compiled the tech equities with upside potential higher than 27% at the time of writing this article and discussed why they stood out as sound potential investments. Finally, we ranked the stocks based on the ascending order of their upside potential. To assist readers with more context, we mentioned the hedge fund sentiment around each stock using data from 1,009 hedge funds tracked by Insider Monkey in the fourth quarter of 2024.

Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 363.5% since May 2014, beating its benchmark by 208 percentage points (see more details here).

JD.com, Inc. (NASDAQ:JD)

Number of Hedge Fund Holders as of Q4: 78

Fisher Asset Management’s Equity Stake: Million 

Upside Potential as of April 30: 54.41%

JD.com, Inc. (NASDAQ:JD) is a Beijing-based e-commerce powerhouse and China’s largest retailer by revenue. The company has evolved into a technology-driven conglomerate, expanding its footprint into logistics, healthcare, and property development alongside its core e-commerce operations. With a reputation for innovation and operational excellence, JD.com has strategically diversified into high-growth sectors that complement and enhance its retail business, reinforcing its dominant position in China’s competitive digital economy.

On March 6, 2025, JD.com, Inc. (NASDAQ:JD) released its financial results for the fourth quarter and full year ended December 31, 2024, revealing robust year-over-year performance across multiple key metrics. The company posted Q4 net revenues of RMB347.0 billion ($147.5 billion), a 13.4% increase over the same period in 2023. Full-year net revenues climbed to RMB1,158.8 billion ($158.8 billion), up 6.8% from the previous year. Operational profitability surged, with Q4 income from operations rising to RMB8.5 billion ($1.2 billion), up significantly from RMB2.0 billion in Q4 2023. The operating margin improved from 0.7% to 2.4%, while non-GAAP income from operations increased to RMB10.5 billion ($1.4 billion), reflecting a non-GAAP operating margin of 3.0%, up from 2.5% the year before.

JD.com, Inc. (NASDAQ:JD) CEO Sandy Xu noted that double-digit year-on-year growth in both topline revenue and bottom-line profitability reflected strong momentum across most product categories. She also emphasized significant increases in quarterly active users and shopping frequency, underscoring rising consumer engagement and loyalty. Looking ahead to 2025, Xu affirmed the company’s optimistic outlook amid recovering consumer sentiment and a continued focus on high-quality growth.

Overall JD ranks 2nd among billionaire Ken Fisher’s technology stock picks with huge upside potential. While we acknowledge the potential of JD as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than JD but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stock To Buy Now and 30 Best Stocks to Buy Now According to Billionaires

Disclosure: None. This article is originally published at Insider Monkey.