Top trades by global Sharesight users — August 2024
Welcome to the August 2024 edition of Sharesight’s monthly trading snapshot for global investors, where we look at the top 20 trades made by Sharesight users around the world, excluding Australia and New Zealand (which we cover separately). Below we will reveal the top trades by our global userbase, highlighting some of the most popular stocks and the market-moving news behind them.
Top trades in August 2024
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This month’s top trades were led primarily by buy trades in NVIDIA (NASDAQ: NVDA), with opportunistic investors taking advantage of declining share prices in the wake of the company’s quarterly earnings report. The top trades were followed by Apple (NASDAQ: AAPL), which has seen its share price rise steadily throughout August. It was a strong month for tech stocks in general, with 14 of the top 20 trades consisting of stocks belonging to the tech, EV, semiconductor and e-commerce sectors.
Let’s look at the market-moving news behind some of this month’s top stocks:
NVIDIA (NASDAQ: NVDA)
- NVIDIA share price drops despite record sales; investors concerned about slowing rate of growth
- Raises revenue expectations amid high demand for its next-gen chip
Apple (NASDAQ: AAPL)
- Apple announces new CFO Kevan Parekh
- Apple in talks to invest in OpenAI
- Share price edges closer to its all-time high
Amazon (NASDAQ: AMZN)
- Amazon downgraded by Wall St analysts after falling short of market expectations in Q2 results
- Amazon slashes costs and time with AI-powered assistant for software development
Intel (NASDAQ: INTC)
- Intel share price plunges to eight-year low following disappointing Q2 earnings report
- Share price in freefall as analysts say Intel faces “formidable hurdles”
- Intel expects to cut costs by US$10 billion in 2025
Meta (NASDAQ: FB)
- Meta share price soars following higher-than-expected profit of US$13.5 billion
- Analysts bullish on Meta as CEO sells investors on AI plans
Advanced Micro Devices (NASDAQ: AMD)
- AMD beats analysts’ expectations in Q2 sales, fuelled by record data centre revenue
- CEO sells over US$12 million in shares
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