Top trades by global Sharesight users — September 2024

Welcome to the September 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 September 2024

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This month’s top trades were led primarily by buy trades in NVIDIA (NASDAQ: NVDA), which saw its share price rise throughout the month, once again surpassing a market capitalisation of US$3 trillion. The top trades were followed by Microsoft (NASDAQ: MSFT), which announced its plans to invest US$1.3 billion in cloud and AI tech. It was a strong month for tech stocks in general, with 15 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 surpasses US$3 trillion market cap once again
• China urges companies to use local chip products rather than NVIDIA

Microsoft (NASDAQ: MSFT)

• Microsoft to invest US$1.3 billion in cloud and AI tech in Mexico
• Microsoft Azure predicted to reach US$200 million in revenue by 2028
• Microsoft stock gets rare downgrade over concerns it’s losing market share to Amazon and Alphabet

Tesla (NASDAQ: TSLA)

• Tesla share price hits 2-month high ahead of Q3 results and robotaxi event
• Tesla CEO Elon Musk on track to become world’s first trillionaire
• Tesla rival NEO receives US$1.43 billion cash injection

Apple (NASDAQ: AAPL)

• Apple share price rises on comments about demand for iPhone 16
• Is Apple’s AI-related upside overexaggerated?

Amazon (NASDAQ: AMZN)

• Analyst bullish on Amazon due to ad strength
• Amazon share price declines as investors concerned over US hiring data

Palantir (NYSE: PLTR)

• Analyst optimistic on Palantir due to growing interest in AIP platform
• Palantir joins S&P 500 index

Intel (NASDAQ: INTL)

• Intel share price rises on news of funding from US govt. and Amazon
• Rumors of takeover interest from Qualcomm and Apollo

Meta (NASDAQ: FB)

• Meta fined €91 million by Irish Data Protection Commission over password storage
• Meta among companies accused of ‘undermining democracy’
• CEO unveils AR glasses at Connect conference

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FURTHER READING

• Subscribe to Sharesight20 trading snapshots
• How Sharesight calculates your investment performance
• Top trades by global Sharesight users — August 2024