{"id":12115,"date":"2024-07-10T20:50:40","date_gmt":"2024-07-10T20:50:40","guid":{"rendered":"https:\/\/economicherald.net\/?p=12115"},"modified":"2024-07-10T20:50:40","modified_gmt":"2024-07-10T20:50:40","slug":"top-stocks-local-miners-rise-in-q2-but-its-all-about-ai-and-megatech","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=12115","title":{"rendered":"Top Stocks: Local miners rise in Q2, but it\u2019s all about AI and Megatech"},"content":{"rendered":"

Nvidia does Apple to become eToro\u2019s no. 2 most-held stock in Australia\u00a0
\nMega tech (ie: Nvidia, Intel and Microsoft) among nation\u2019s top stock risers\u00a0
\nBHP, Core Lithium and Pilbara Minerals also among the top 20 risers for Q2\u00a0<\/p>\n

\u00a0<\/p>\n

There\u2019s been movement at the station when it comes to equity investing across Australia, but while there\u2019s a little more interest in ASX miners, Aussie retail investors continue to back Nvidia and big tech to the hilt.<\/p>\n

That\u2019s according to the latest quarterly equity investing data pulled from the servers of global trading and investing platform eToro.<\/p>\n

eToro\u2019s latest quarterly insights reveal a fair bit about the stocks we\u2019re loving and the stocks we\u2019re avoiding with eToro tracking which companies saw the biggest proportionate change in holders, quarter-on-quarter, and the 10 most held stocks on the platform in Australia.<\/p>\n

\u00a0<\/p>\n

Stocks most widely held by eToro users in Australia and their position last quarter<\/strong><\/p>\n

Via eToro<\/p>\n

eToro says there\u2019ve been heaps of shifts among the most held stocks since last quarter.<\/p>\n

Chip champ Nvidia has found some time from its usual surge to surge into second-most popular stock on the eToro platform in Australia, overtaking Apple and sitting just behind Tesla.<\/p>\n

Tesla holders will be thrilled with the 27% surge over at Tesla last week, as well.<\/p>\n

Meanwhile, the bottom half of the top 10 experienced a few shifts with Facebook-owning Meta overtaking the US-listed Chinese car manufacturer Nio Inc. to become the sixth most popular stock in Australia.<\/p>\n

Ladies and gents. Gamestop moved up into ninth place, overtaking Alibaba.<\/p>\n

Gamestop-owners surged 18% this quarter, according to eToro\u2019s Sydney man, Josh Gilbert.<\/p>\n

This comes as little surprise after the stock\u2019s shares rose sharply in early June following notorious financial analyst Keith \u201cRoaring Kitty\u201d Gill\u2019s return to Reddit, during which he made a few non-sensible posts about the company on \/r\/wallstreetbets.<\/p>\n

While Nvidia continues to dominate AI news, other firms in the space are also attracting attention from investors, as indicated by several businesses with lofty AI ambitions featuring on the \u2018top risers\u2019 list.<\/p>\n

\u00a0<\/p>\n

Via eToro<\/p>\n

\u00a0<\/p>\n

This includes Intel (+17 per cent), which announced snazzy new AI chips during the mega -sized Computex tech conference in Taipei last month.<\/p>\n

And it also features Mnsr Microsoft (+6%), which recently won plaudits after releasing its AI Copilot Plus PCs. Which is an AI thing.<\/p>\n

\u00a0<\/p>\n

All the Chips not in China<\/h2>\n

Semiconductor manufacturers are also featured among the top risers in Australia.<\/p>\n

Taiwan Semiconductor Manufacturing Co Ltd was the second largest riser for the quarter (+25%), and the number of Aussie holders in Advanced Micro Devices rose 16 per cent. Aussie retail investors\u2019 interest in mining companies was also notable.<\/p>\n

Mining giant BHP delivered a 24% increase in holders for Q2, while Core Lithium and Pilbara Minerals sit among the top 20 stock risers \u2013 seeing an 8% and 5% increase in holders, respectively.<\/p>\n

Josh G says retail investors continued to flock to AI stocks in the second quarter of 2024.<\/p>\n

\u201cBusinesses like Nvidia and TSMC continue to reap the rewards of the biggest technology revolution we\u2019ve seen for decades.<\/p>\n

\u201cWe\u2019re unlikely to see this investor migration to AI stocks ease up anytime soon, as these stocks continue to deliver huge profits quarter after quarter, and other AI winners are sure to emerge in the years ahead.\u201d<\/p>\n

\u00a0<\/p>\n

The China syndrome<\/h2>\n

The \u2018top fallers\u2019 list in Q2 indicate Aussie eToro users are continuing to lose faith in Chinese equities.<\/p>\n

Most particularly in Prosus NV (-10%), a major shareholder in Chinese tech firm Tencent.<\/p>\n

This investor exodus continues from Q1, and Q4 2023 when the company saw a 16%drop in Aussie holders over two consecutive quarters following news of new Chinese regulations announced last December that intend to curb spending on video games.<\/p>\n

Another company that saw a significant QoQ fall was Moderna (-10%).<\/p>\n

However, investor sentiment may shift next quarter following news that the company is in the early stages of developing a vaccine for the bird flu, a current concern for Australia\u2019s egg supply, Josh told Stockhead<\/em>.<\/p>\n

\u201cWe\u2019ve also seen investors flock back to local miner BHP as the downturn in China\u2019s real estate sector shows signs of slowing as the government continues to offer support to the sector.<\/p>\n

\u201cThere is clearly still a long way to go for China\u2019s economy, but with iron ore prices rising in recent months, investors are seeing the weakness in BHP shares this year as an opportunity. \u201d<\/p>\n

\u00a0<\/p>\n

The post Top Stocks: Local miners rise in Q2, but it\u2019s all about AI and Megatech<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Nvidia does Apple to become eToro\u2019s no. 2 most-held stock in Australia\u00a0 Mega tech (ie: Nvidia, Intel and Microsoft) among nation\u2019s top stock risers\u00a0 BHP, [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":12116,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-12115","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nTop Stocks: Local miners rise in Q2, but it\u2019s all about AI and Megatech - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=12115\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Top Stocks: Local miners rise in Q2, but it\u2019s all about AI and Megatech - 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