Big Tech Remains a Favorite Among Retail Investors: Vanda

Source: Bloomberg by Ryan Vlastelica

Wednesday, July 6, 2022 10:06 AM

• Major US technology and internet stocks have been pressured throughout 2022, but the group continues to be a popular choice among retail investors, according to Vanda Research.
• Vanda names Advanced Micro Devices, Nvidia, and the FAANGMT group — a reference to Facebook-parent Meta Platform, Apple, Amazon, Netflix, Google-parent Alphabet, Microsoft, and Tesla — as top choices for retail investors, along with broad stock-based exchange-traded funds
• “These (mostly) high-quality, large-cap names are where retail crowds are seeking refuge against the growing recession concerns,” the firm writes, adding that retail traders “tend to direct capital in their direction whenever market conditions become more challenging”
• According to Vanda, retail investors last week purchased an average of about $1.3 billion worth of securities a day, activity that is in line with year-to-date averages
• On Wednesday, AAPL rose 0.3%, MSFT +0.7%, AMZN +0.2%, GOOGL +0.3%, NVDA +0.8%, META +0.1%, NFLX -0.9%, AMD -0.9%
• NOTE: Earlier, Megacap Shorts Finally Win With $20 Billion Profit: Tech Watch