- Tech’s ‘magnificent 7’ dominates the list of most held stocks on eToro, with Australian users benefitting from tech recovery
- NVIDIA and Intel swept up in AI surge, with major increases in eToro holders
Aussie retail investors threw their weight behind AI-related stocks in Q2, while global retail investors flocked to Manchester Utd in anticipation of the long-awaited sale of the club, according to the latest quarterly stocks data from trading and investing platform eToro. Retail investors also continued to reap the rewards for their sustained loyalty to big tech, with the sector recovering further ground in Q2.
We looked at which companies saw the biggest proportionate change in holders at the end of Q2 versus the end of Q1 (table 1), while also looking at the 10 most widely held stocks on the platform in Australia (table 2).
The list of most widely held stocks in Australia was led by Tesla, Apple and Amazon, all of which have seen huge share price improvements this year, with Tesla’s share price up 131 per cent year-to-date. Others in this list include NVIDIA (+193 per cent share price ytd), Meta (+76 per cent share price ytd).
Amongst the 10 ‘biggest risers’, several companies relating to AI make the list, as retail investors look to benefit from the explosion of popularity within the sector. The number of Australian eToro users holding NVIDIA jumped 7.5 per cent quarter-on-quarter, whilst Intel saw a 6.7 per cent increase in Aussie holders after announcing a chip for artificial intelligence (AI) computing it plans to introduce in 2025.
A stock that saw a significant jump in holders in Q2 worldwide was Manchester United, up 21 per cent, with global retail investors clearly hoping to benefit from the club’s expected sale.
Commenting on the data, Market Analyst Josh Gilbert, said: “Retail investors have been in pole position for the dramatic tech rally this year putting them ahead of most institutional investors. The so-called ‘magnificent seven’ tech stocks are all amongst the top ten most widely held on the platform. There’s no surprise to see investors flocking towards the AI golden child, Nvidia. Its 50% gain in the quarter alongside one of the biggest surprises to second quarter revenue forecasts that Wall Street has ever seen means it was at the top of most investors lists.”
At the other end of the spectrum, it was a fairly mixed bag in terms of the stocks that lost popularity. Meituan Class B was first on the fallers list, losing almost 18 per cent of holders on the eToro platform in Australia in Q2, whilst AMC pref lost 5.9 per cent with Aussie investors.
Gilbert adds: “China’s Meituan topping the list of stocks losing holders last quarter is symptomatic of the disappointment in the Chinese local economy’s reopening rebound, with China’s stock market one of the worst performers last quarter, sitting out the global rally. We also see investors being proactive within their continued love affair with tech, by trimming back on heavyweights Meta and Netflix.”
Table 1: Shows which stocks have seen the biggest proportional increase and decrease in holders on the eToro Australia platform quarter on quarter
| Biggest risers among eToro’s Aussie investors | Biggest fallers among eToro’s Aussie investors | ||||||
| Rank | Company | Increase in holders QoQ as a percentage | Company | Decrease in holders QoQ as a percentage | |||
| 1 | NVIDIA Corporation | 7.5% | Meituan Class B | -17.9% | |||
| 2 | Intel | 6.7% | AMC pref | -5.9% | |||
| 3 | Walt Disney | 5.4% | GameStop Corp. | -5.2% | |||
| 4 | Coca-Cola | 5.1% | Warner Bros Discovery Inc | -5.2% | |||
| 5 | PayPal Holdings | 4.7% | AMC Entertainment Holdings Inc | -5.1% | |||
| 6 | Amazon.com Inc | 3.2% | Netflix, Inc. | -4.7% | |||
| 7 | Microsoft | 2.4% | Asensus Surgical Inc. | -4.4% | |||
| 8 | Alibaba-ADR | 2.3% | Block Inc. | -3.5% | |||
| 9 | Apple | 1.5% | Shopify Inc. | -3.3% | |||
| 10 | Pfizer | 1.4% | Nio Inc.-ADR | -3.2% | |||
Table 2: Shows which stocks are most widely held by eToro users in Australia, and their position last quarter
| Company | Current ranking | Ranking at end of Q1 2023 |
| Tesla Motors, Inc. | 1 | 1 |
| Apple | 2 | 2 |
| Amazon.com Inc | 3 | 3 |
| Nio Inc.-ADR | 4 | 4 |
| Microsoft | 5 | 6 |
| Meta Platforms Inc | 6 | 5 |
| Alphabet | 7 | 7 |
| NVIDIA Corporation | 8 | 9 |
| GameStop Corp. | 9 | 8 |
| Alibaba-ADR | 10 | 10 |
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