Was Cliff Asness Right to Bet Big on These Tech Stocks?

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

Shares held (as of June 30): 104,567
Total Value (as of June 30): $45.39 million
Percent Change from First Quarter: 364%

Amazon.com, Inc. (NASDAQ:AMZN) soared by 17.9% in the third quarter as more investors took note of Amazon.com’s infrastructure as a service division’s success. Amazon Web Services might not be a ten-billion-dollar-a-year company yet, but it is quickly getting there. AWS revenues in the third quarter grew by 78% year-over-year as more corporations and startups outsourced their computing needs. Given the size of the cloud market, there is plenty of growth ahead. Ken Fisher’s Fisher Asset Management owned 2.49 million at the end of September. AQR increased its holding by 364% in the second quarter to 104,567 shares.

#2 Xilinx, Inc. (NASDAQ:XLNX)

Shares held (as of June 30): 1.61 million
Total Value (as of June 30): $70.92 million
Percent Change from First Quarter: 989%

Xilinx, Inc. (NASDAQ:XLNX) inched down by 3.3% in the third quarter amid a broader market sell-off. Analysts think there is limited upside, as they have a consensus target price of $47.67 per share, or roughly 1.07% above current levels. Given the forward P/E of 20.98 and dividend yield of 2.63%, shares of the semiconductor company are not cheap, but the company could do well if it merges with another company or does an accretive acquistion.