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 NVIDIA Corporation (NASDAQ:NVDA) 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).
A close-up of a colorful high-end graphics card being plugged in to a gaming computer.
NVIDIA Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holders as of Q4: 223
Fisher Asset Management’s Equity Stake: Million
Upside Potential as of April 30: 53.27%
NVIDIA Corporation (NASDAQ:NVDA), a global leader in GPU-accelerated computing, continues to revolutionize the tech industry with its high-performance graphics processing units, powering innovations across gaming, professional visualization, data centers, and automotive sectors.
In the fourth quarter of fiscal year 2025, NVIDIA Corporation (NASDAQ:NVDA) reported a record-breaking revenue of $39.3 billion, demonstrating a staggering 78% year-over-year growth. GAAP earnings per diluted share climbed to $0.89, reflecting strong operational performance and expanding demand for NVIDIA’s AI and data center technologies.
At the same time, NVIDIA Corporation (NASDAQ:NVDA) finds itself at the heart of escalating US-China tensions over advanced technology exports, particularly as Washington tightens restrictions on the sale of AI chips to Chinese firms. In response to new U.S. Commerce Department rules, NVIDIA must now obtain export licenses for its H20 AI chip, a model originally designed to comply with earlier export controls. Despite the setback, NVIDIA remains a pivotal player in the generative AI race, with its chips underpinning platforms such as ChatGPT. The restrictions are part of a broader U.S. strategy to curb China’s access to advanced AI technology, while simultaneously boosting domestic chip production—evidenced by NVIDIA’s recent $500 billion AI server investment plan in the U.S., and TSMC’s additional $100 billion investment in its Arizona facilities.
To safeguard its interests in China, which accounted for 13% of its total sales last year, NVIDIA CEO Jensen Huang recently visited Beijing, where he met with senior officials and business leaders, including DeepSeek’s founder. Huang reaffirmed the company’s commitment to the Chinese market, emphasizing continued collaboration despite geopolitical headwinds. The visit coincided with increased scrutiny of the global semiconductor supply chain and a growing divide between U.S.- and China-led tech ecosystems.
Nonetheless, investor sentiment surrounding NVIDIA Corporation (NASDAQ:NVDA) remains strong. The stock holds a price target of $167.09, representing a projected upside of 53.27%, placing it among the huge upside potential stock picks of billionaire Ken Fisher. This optimism highlights NVIDIA’s strategic importance in the future of AI and next-generation computing, reinforcing its appeal to investors who view it as a cornerstone of technological advancement in an increasingly polarized global tech landscape.
Alger Spectra Fund stated the following regarding NVIDIA Corporation (NASDAQ:NVDA) in its Q4 2024 investor letter:
“NVIDIA Corporation (NASDAQ:NVDA) is a leading supplier of graphics processing units (GPUs) for a variety of end markets, such as gaming, PCs, data centers, virtual reality, and high-performance computing. The company is leading in most secular growth categories in computing, and especially artificial intelligence and super-computing parallel processing techniques for solving complex computational problems. In our view, Nvidia’s computational power is a critical enabler of AI and therefore essential to AI adoption. Shares contributed to performance during the quarter, driven by strong demand for its data center products, especially the Hopper H200 chips, which generated double-digit billions in revenue, marking the fastest product ramp in the company’s history. Management provided fiscal fourth-quarter revenue guidance above analyst estimates, along with resilient operating margins supported by robust demand and limited competition. In our view, Nvidia’s leadership in scaling AI infrastructure, including advancements in inference and test-time scaling (i.e., reasoning during inference), is driving adoption among enterprises and startups, providing continued demand for its high-performance chips and software solutions. As older-generation chips are repurposed for inference and new clusters are deployed, we believe Nvidia is well-positioned to capitalize on growing compute needs across AI applications.”
Overall NVDA ranks 3rd among billionaire Ken Fisher’s technology stock picks with huge upside potential. While we acknowledge the potential of NVDA 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 NVDA but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
