According to billionaire Ken Fisher, the top ten growth stocks to buy today.
Ken Fisher is a prominent figure in the hedge fund industry and ranks among the wealthiest individuals globally. According to Forbes Magazine’s December 2023 estimate, his net worth stands at $7.5 billion. His wealth stems from his extensive involvement in stock market investments through his hedge fund, Fisher Investments, spanning several decades. As of September 2023, Insider Monkey’s research revealed that Fisher’s investment portfolio was valued at $176 billion, positioning it as one of the largest hedge funds worldwide.
It’s important to note that the $176 billion portfolio may not entirely represent the total capital entrusted to Mr. Fisher’s hedge fund. Hedge funds often leverage client funds to secure additional borrowing from financial institutions for further stock market investments, potentially inflating their portfolio values beyond their actual capital holdings.
The year 2023 has proven to be highly successful for Fisher Investments in terms of its portfolio growth. By the conclusion of Q3 2022, the firm’s investment portfolio had reached a value of $133 billion, marking a remarkable 32% annual increase by 2023. The robust performance of technology stocks throughout 2023 has significantly contributed to this growth, with the S&P 500 Information Technology index posting a year-to-date increase of 52% and the NASDAQ 100 index recording returns of 49.87%.
Fisher Investments’ impressive standing can be attributed to these favorable market conditions and its strategic investment decisions. The top ten growth stocks to buy today are:
1. Microsoft Corporation (NASDAQ:MSFT) (The top ten growth stocks to buy today )
In the world of technology, Microsoft Corporation (NASDAQ:MSFT) stands as a major player. The month of December marked a significant period for the company’s stock, with Cathie Wood’s Ark Investment making headlines by acquiring over 8,800 shares of Microsoft Corporation (NASDAQ:MSFT) – the first such purchase since Q1 2023. Additionally, in the third quarter of 2023, Insider Monkey reported that 306 out of 910 hedge funds had invested in and held shares of Microsoft Corporation (NASDAQ:MSFT). Notably, Michael Larson’s Bill & Melinda Gates Foundation Trust emerged as the company’s largest shareholder with a substantial $12.4 billion investment.
2. Apple Inc. (NASDAQ:AAPL) (The top ten growth stocks to buy today )
Apple Inc., the leading consumer technology company, is rumored to be considering incorporating 6G technology into its future iPhones based on recent job postings seeking 6G engineers. As of the third quarter of this year, 134 out of 910 hedge funds tracked by Insider Monkey had invested in Apple Inc. The largest investor in the company is Warren Buffett’s Berkshire Hathaway, which holds $156 billion worth of shares.
3. ASML Holding N.V. (NASDAQ:ASML) (The top ten growth stocks to buy today )
ASML Holding N.V. (NASDAQ:ASML) is a leading global manufacturer of industrial equipment used in the production of semiconductors. Analysts have given its shares an average Buy rating and set a target price of $720. At the close of the September quarter this year, 57 out of the 910 hedge funds in Insider Monkey’s database had invested in ASML Holding N.V. (NASDAQ:ASML). The largest hedge fund investor in ASML Holding N.V. (NASDAQ:ASML) is Fisher Asset Management, owned by Ken Fisher, with a holding of 2.8 million shares valued at $2.8 billion.
4. Adobe Inc. (NASDAQ:ADBE) (The top ten growth stocks to buy today )
Adobe Inc., a well-known software company traded on the NASDAQ under the ticker symbol ADBE, is recognized for its image editing and other software products. The company is wrapping up 2023 with a positive outlook following the update of its web and application design system, Spectrum, in December 2023. Insider Monkey’s data reveals that out of 910 hedge funds tracked, 112 were shareholders of Adobe Inc. (NASDAQ:ADBE) during the third quarter of 2023. Fisher Asset Management, led by Ken Fisher, emerged as the largest shareholder with shares valued at $2.3 billion. Ken Fisher recommends Amazon.com, Inc. (NASDAQ:AMZN), Adobe Inc., Costco Wholesale Corporation (NASDAQ:COST), and Eli Lilly and Company (NYSE:LLY) as top growth stocks worth investing in.
5. Mastercard Incorporated (NYSE:MA) (The top ten growth stocks to buy today )
Mastercard Incorporated (NYSE:MA) is a leading provider of financial services and products. It has exceeded analyst EPS predictions in its last four quarters, and the stock is highly recommended with an average price target of $447.91. Insider Monkey analyzed 910 hedge funds’ third quarter 2023 holdings and discovered 140 shareholders of Mastercard Incorporated (NYSE:MA). The largest investor was Akre Capital Management, led by Charles Akre, with a substantial $2.3 billion investment.
6. Netflix, Inc. (NASDAQ:NFLX) (The top ten growth stocks to buy today )
Netflix, Inc. (NASDAQ:NFLX) is a company that provides a platform for users to stream TV shows, movies, and other content. Shareholders received positive news in December 2023 when a report revealed to Reuters indicated that Netflix, Inc. (NASDAQ:NFLX) is projected to increase its advertising revenues by an impressive 50% next year. At the end of Q3 2023, Insider Monkey’s data showed that out of the 910 hedge funds analyzed, 102 were invested in the company. The largest hedge fund investor in Netflix, Inc. (NASDAQ:NFLX) is Fisher Asset Management, led by Ken Fisher, which holds a stake worth $1.5 billion.
7. Salesforce, Inc. (NYSE:CRM) (The top ten growth stocks to buy today )
Salesforce, Inc. (NYSE:CRM) is an American technology company that specializes in customer relationship management and data management for businesses. In December, a recruitment company announced its plan to utilize Salesforce, Inc. (NYSE:CRM)’s chatbot to enhance the user experience, marking the company’s expansion into the A.I. market. During the September quarter of 2023, 122 out of 910 hedge funds included in Insider Monkey’s database held a stake in Salesforce, Inc. (NYSE:CRM). Fisher Asset Management, led by Ken Fisher, emerged as the largest shareholder with 14.1 million shares valued at $2.8 billion. Alongside Costco Wholesale Corporation (NASDAQ:COST), Amazon.com, Inc. (NASDAQ:AMZN), and Eli Lilly and Company (NYSE:LLY), Salesforce, Inc. (NYSE:CRM) is considered one of Ken Fisher’s top growth stock picks.
8. Intuit Inc. (NASDAQ:INTU) (The top ten growth stocks to buy today )
Intuit Inc., listed on the NASDAQ as INTU, is a company specializing in financial software solutions that help businesses with payroll management, accounting, and various other tasks. Despite challenges in the business environment with high interest rates, the company has consistently exceeded analyst EPS estimates in its last four quarters and is rated as a Strong Buy on average. At the end of Q3 2023, Insider Monkey’s survey of 910 hedge funds revealed that 86 of them had invested in Intuit Inc.’s shares. The largest hedge fund shareholder of Intuit Inc. is Fisher Asset Management, headed by Ken Fisher, which holds a stake worth $1.4 billion through ownership of 2.4 million shares.
9. Advanced Micro Devices, Inc. (NASDAQ:AMD) (The top ten growth stocks to buy today )
In Santa Clara, California, Advanced Micro Devices, Inc. (NASDAQ:AMD) is a chip designer company that experienced a significant increase in its stock value of over 9% in December 2023. This boost followed the company’s announcement of a range of new A.I. products and the revelation that it is the sole provider of an end-to-end A.I. product ecosystem. In the September quarter of that year, 110 out of 910 hedge funds analyzed by Insider Monkey held shares in Advanced Micro Devices, Inc. (NASDAQ:AMD). The largest investor was Ken Fisher’s Fisher Asset Management with a $2.8 billion investment.
10. Amazon.com, Inc. (NASDAQ:AMZN) (The top ten growth stocks to buy today ).
Amazon.com, Inc. (NASDAQ:AMZN) is a major player in eCommerce, cloud computing, and artificial intelligence. In December 2023, the company expanded its AI capabilities by partnering with Bigbear.ai Holdings, Inc. (NYSE:BBAI) to enhance its supply chain management systems. According to Insider Monkey’s survey of 910 hedge funds’ third-quarter 2023 shareholdings, 286 of them had invested in Amazon.com, Inc. (NASDAQ:AMZN). Fisher Asset Management, led by Ken Fisher, is the largest shareholder with a $5.2 billion investment in the company.
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Conclusion:
In conclusion, the top ten growth stocks to buy today, presented in this article, offer a promising investment opportunity for those looking to maximize their returns. These companies have demonstrated strong financial performance, innovative products or services, and a solid track record of growth. By carefully considering these options and conducting thorough research, investors can position themselves to benefit from potential future gains. It is important to remember that all investments carry some level of risk, and it is crucial to seek professional financial advice before making any investment decisions. Take the time to evaluate each stock’s potential and consider diversifying your portfolio for long-term success in the stock market.