Source: Wall Street News
The US stock “Seven Sisters” currently accounts for more than 20% of the total net exposure of hedge funds to a single US stock.
Nvidia's first-quarter results fully exceeded expectations, once again igniting hedge funds' enthusiasm for giant tech stocks.
Goldman Sachs's main broker business data shows that after Nvidia released its quarterly report last week, hedge fund exposure to the “Seven Sisters” in US stocks reached a record high.
According to the report, Nvidia, Apple, Amazon, Meta Platforms, Google's parent company Alphabet, Tesla, and Microsoft — currently account for around 20.7% of the hedge fund's total net exposure to the US single stock.
According to the financial report released last Thursday, Nvidia's total revenue and data center revenue for the first quarter both reached new highs, exceeding expectations, raised the Q2 revenue guidelines, announced a 10:1 stock split, and a significant increase in dividends.
Since the release of the first quarterly report, Nvidia's stock price has soared by more than 20%, increasing its market value by 470 billion US dollars to 2.81 trillion US dollars, which is only 100 billion US dollars short of Apple (2.91 trillion US dollars), the world's highest market capitalization company.
However, the stock prices of other tech giants were mediocre during this period.
edit/lambor