Top 20 trades in US stocks by Sharesight users – April 2023

Welcome to the April 2023 edition of Sharesight’s monthly USA trading snapshot, where we look at Sharesight users’ top 20 trades in US stocks on the Nasdaq, NYSE and NYSE American market (AMEX) over the month.

In this snapshot, trades were strongly led by Tesla (NASDAQ: TSLA), which saw its share price plummet due to weak YoY earnings. Trades were followed by Microsoft (NASDAQ: MSFT), which beat analysts’ expectations in its latest earnings report, sending shares upward. It was a tech-heavy month overall, with 11 of the top 20 stocks belonging to the tech, EV, e-commerce, semiconductor and aerospace industries.

Top 20 US stock trades April 2023

Let’s look at the news behind some of the key stocks in this month’s snapshot:

Tesla (NASDAQ: TSLA)

• Tesla share price drops almost 10% due to YoY earnings decline

• Leading advisor raises Tesla price target

• Tesla shareholder group calls for board to reign in "distracted" Elon Musk

Microsoft (NASDAQ: MSFT)

• Microsoft beats analysts’ expectations in latest earnings report, driving up share prices

• CEO describes Microsoft as platform of choice for ‘next generation of AI’

• Microsoft projects ‘relatively flat’ commercial bookings for Q4

Amazon (NASDAQ: AMZN)

• Amazon cuts jobs in HR and cloud divisions

• Share price on watch ahead of Amazon’s Q1 earnings report

• Amazon CEO gets 99% pay cut

NVIDIA (NASDAQ: NVDA)

• NVIDIA share price up 86% YoY

• Bank of America forecasts 23% upside for NVIDIA due to rising AI demand

• NVIDIA shares jump as Microsoft announces increased spending on AI infrastructure

Alphabet (NASDAQ: GOOGL)

• Alphabet beats expectations in Q1 earnings report

• Small gains for Alphabet share price following earnings report

• Announces US$70 billion stock buyback

Meta (NASDAQ: FB)

• Meta stock soars as company reports first revenue growth in almost a year

• Attributes growing ad sales to AI

• Meta starts announcing latest round of layoffs

Alibaba (NYSE: BABA)

• Alibaba plans to roll out ChatGPT rival

• Share price drops after SoftBank sells majority stake

• Alibaba migrates shares to Hong Kong

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• Top 20 trades in US stocks by Sharesight users – March 2023