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

Welcome to the July 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, buy and sell trades were strongly led by Tesla (NASDAQ: TSLA), which saw its share price decline towards the end of July after reporting a huge slump in vehicle profit margins. Trades were followed by Apple (NASDAQ: AAPL), which saw its market value exceed US$3 trillion. It was a tech-heavy month overall, with 12 of the top 20 stocks belonging to the tech, EV, e-commerce, semiconductor and aerospace industries.

Top 20 US stock trades July 2023

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

Tesla (NASDAQ: TSLA)

• Tesla stock dives 10% following latest earnings results
• Shares continue to fall as leading broker downgrades Tesla rating
• Tesla CEO Elon Musk reclaims title of “world’s richest person”

Apple (NASDAQ: AAPL)

• Apple’s market value exceeds US$3 trillion for first time since Jan 2022
• Leading broker expects Apple to beat Q3 earnings estimates
• Apple Pay continues to grow in popularity, taking market share from PayPal

Microsoft (NASDAQ: MSFT)

• Microsoft shares drop despite strong earnings results
• Microsoft promotes AI as the way forward in the face of falling cloud demand
• Cuts 50 jobs from Australian office

Amazon (NASDAQ: AMZN)

• Amazon share price on watch ahead of Q2 earnings report
• More Amazon job cuts announced
• FTC preparing lawsuit that could break up Amazon

Meta (NASDAQ: FB)

• Meta share price soars 9% as Q2 earnings beat estimates
• Reveals optimistic guidance for Q3
• Meta close to hitting 52-week high, with AI craze driving upswing

Alphabet (NASDAQ: GOOGL)

• Alphabet share price rises as Q2 profits exceed expectations
• CFO promoted to joint president and CIO following Alphabet’s strong Q2 results
• Shares rise to highest intraday level in 15 months

Alibaba (NYSE: BABA)

• Alibaba shares rise after Chinese regulators fine Ant Group; investors hope it marks end of regulatory uncertainty
• Alibaba decides not to participate in Ant Group’s US$6 billion rights issue
• Reports it is well on the way to carbon neutrality by 2030

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FURTHER READING

• Subscribe to Sharesight20 trading snapshots
• How Sharesight calculates your investment performance
• Sharesight users' top 20 trades in US, ASX and NZX stocks – June 2023