In this article, we’ll take a look at some of the notable stocks that have changed this week. You can skip our in-depth analysis of these stocks and continue reading. Why These 5 Tech Stocks Moved This Week…
This week was a real test for the market, given the situation with Evergrande in China and the Fed meeting. This week has also been a busy week for promotions such as salesforce.com, inc. (NYSE: CRM), Micron Technology, Inc. (NASDAQ: MU), Tesla, Inc. (NASDAQ: TSLA), Apple Inc. (NASDAQ: AAPL), Facebook Inc. (NASDAQ: FB), Amazon.com Inc. (NASDAQ: AMZN) and Alphabet Inc. (NASDAQ: GOOG). Let’s find out why all stocks were in the spotlight this week and how elite funds were ranked among them.
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10. Tesla, Inc. (NASDAQ: TSLA) Shares are up nearly 5.5% this week on a broader market rally and Musk’s comments that the semiconductor chip shortage that has been a headwind for many automakers could be a short-term problem. Tesla, Inc.’s beta button may also be helpful. (NASDAQ: TSLA), which allows owners to request the company’s most sophisticated autonomous driving software version with the touch of a finger. The “beta testing button” went live on Friday. While the standalone software Tesla, Inc. (NASDAQ: TSLA) is not really completely autonomous, it may appear sometime in the future. At the end of June, ARK Investment Management Catherine D. Wood owned more than 5.4 million shares in Tesla, Inc. (NASDAQ: TSLA).
9. Apple Inc. (NASDAQ: AAPL) stocks are up more than 2% this week due to market gains. With more confidence in the potential future trajectory of interest rates following the release of the data at this week’s Fed meeting, some investors are more optimistic, and this has probably helped Apple Inc. (NASDAQ: AAPL).
Apple Inc. (NASDAQ: AAPL) also made headlines after the showbiz union said Apple said it had fewer than 20 million TV + subscribers in the US and Canada as of early July. Given the scale of Apple’s other businesses, the current Apple TV + subscriber base doesn’t really matter to stocks. Many smart money funds are looking upbeat in the most recent 13F reports. The number of elite funds that were long at Apple Inc. (NASDAQ: AAPL) rose to 138 at the end of the second quarter from 127 in the first quarter.
7. Amazon.com, Inc. (NASDAQ: AMZN) are up 0.87% this week as shares continue to technically consolidate. Amazon.com, Inc. (NASDAQ: AMZN) also featured in the news this week that the company plans to open its own department stores, which could boost apparel sales. Amazon.com, Inc. (NASDAQ: AMZN) already has business as usual, having bought Whole Foods a few years ago. Amazon.com, Inc. (NASDAQ: AMZN) was the most widely used smart money stock at the end of the second quarter according to our database of 873 elite funds, with the 271 funds we track hold Amazon stock.
6. Alphabet Inc. (NASDAQ: GOOG) is up roughly 2.6% this week as the company approaches a $ 2 trillion market cap. Meanwhile, Alphabet Inc. (NASDAQ: GOOG) remains the dominant search provider and, according to The Information, Alphabet Inc. (NASDAQ: GOOG) is also looking for potential video search suggestions on Instagram and TikTok. The 190 leading funds we track are owned by shares of Alphabet Inc.
Like Tesla, Inc. (NASDAQ: TSLA), Apple Inc. (NASDAQ: AAPL), Facebook Inc. (NASDAQ: FB), Amazon.com Inc. (NASDAQ: AMZN) and Alphabet Inc. (NASDAQ: GOOG), salesforce.com, inc. (NYSE: CRM) and Micron Technology, Inc. (NASDAQ: MU) also moved this week.
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Disclosure: None. Why these 10 tech stocks moved this week originally published on the Insider Monkey website.