A U.S. stocks rally is showing signs of expanding beyond the cluster of giant growth and tech names that have led gains this year, as investors reposition portfolios primed for a widely expected recession.
During an especially busy week, the ETF industry saw the launch of multiple ETFs and the completion of a major round of closures, not to mention some very interesting filings. BlackRock’s iShares arm roll out a fund focused on companies that are leaders in the transition to a low-carbon economy. Finnish pension fund Ilmarinen has [...]
Read more at ETFtrends.com.
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The S&P 500 and Nasdaq hit fresh 2023 highs on Friday before paring some gains, as a jump in Tesla and technology stocks outweighed jitters around the Federal Reserve's policy outcome and inflation data next week.
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The S&P 500 and Nasdaq hit fresh 2023 highs on Friday as Tesla shares jumped following a tie-up with General Motors, while investors awaited inflation data and U.S. monetary policy decision due next week.
In his personal blog in December, Microsoft (NASDAQ: MSFT) co-founder Bill Gates wrote, "Over the next few years, people are going to see the incredible progress in AI." And according to more recent statements from Gates, that incredible progress is coming straight for e-commerce
The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings oft
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"Call of Duty" maker Activision Blizzard has been given permission to intervene in Microsoft's legal battle with Britain's anti-trust regulator over its decision to block the $69 billion takeover.
U.S. stock index futures slipped on Friday, a day after the benchmark S&P 500 marked a 20% rally from lows, while inflation data and U.S. monetary policy decision due next week kept investors on their toes.
If you're interested in broad exposure to the Large Cap Value segment of the US equity market, look no further than the Invesco FTSE RAFI US 1000 ETF (PRF), a passively managed exchange traded fund launched on 12/19/2005.
Technology stocks rebounded strongly in 2023, delivering solid returns on a year-to-date basis. Taking advantage of this price appreciation, corporate insiders sold shares of (
NASDAQ:NVDA
), Apple (
NASDAQ:AAPL
), Microsoft (
NASDAQ:MSFT
), and Meta (
NASDAQ:META
), according to our
Insiders Trading Activity tool.
Before we move ahead, it is important to highlight that insider selling of stocks does not always indicate a bad sign. However, keeping a tab on insiders’ activities can help retail investors make informed investment decisions.
Coming back to tech stocks, the recent rally has already raised concerns about the valuation and the possibility of a downturn or a correction, especially amid a weak macro backdrop. Several top investment firms, including Morgan Stanley, have
warned of a sharp pullback in shares of technology companies.
Whether tech stocks could witness a correction remains a wait-and-see story. However, retail investors should take caution due to recent insider selling, notable price appreciation, and warnings from market pundits.
Against this backdrop, let’s look at what TipRanks’ Insider Trading Activity tool indicates about these stocks.
What is the Prediction for Nvidia Stock?
Nvidia stock has gained about 164% year-to-date on the back of solid demand for its
AI (Artificial Intelligence)-led chips. Our data shows that four insiders made five Sell transactions in NVDA stock. Meanwhile, three insiders sold shares of Nvidia in June.
Harvey Jones, director at Nvidia, recently sold shares worth 28.43M. Overall, corporate Insiders sold NVDA shares worth $70.7M in the last three months. Further, the stock has a negative signal from insiders.
Nonetheless, Wall Street analysts are bullish about
NVDA stock. It has received 32 Buy and four Hold recommendations for a Strong Buy consensus rating. Meanwhile, analysts’ average price target of $449.92 implies 16.83% upside potential.
Is AAPL a Good Stock to Buy Right Now?
Like NVDA, insiders sold AAPL stock in the last three months. Per the
Insider Trading Activity tool, six insiders sold AAPL stock in 12 transactions in May 2023. Additionally, it is worth mentioning that three insiders have conducted sell transactions thus far in June.
Overall, insiders sold AAPL shares worth $709K in the past three months, with
Chris Kondo, its Senior Director of Corporate Accounting, selling shares of an estimated value of $708.98K last month.
While
Apple stock has a negative signal from insiders, it commands a Moderate Buy consensus rating based on 23 Buy, six Hold, and one Sell recommendations. Analysts’ average price target of $186.53 implies 3.3% upside potential from current levels.
Is Microsoft a Buy, Sell, or Hold?
Insiders sold MSFT shares worth $15.6M in the last quarter.
Three insiders sold MSFT stock in seven transactions in May 2023. Further, two insiders have made three sell transactions so far in June. MSFT has a negative call from our Insider Trading Activity tool.
While insiders reduced their exposure to
MSFT stock, Wall Street analysts maintain their bullish view. It has received 30 Buy, four Hold, and one Sell recommendations for a Strong Buy consensus rating. Further, these analysts’ average price target of $344.30 implies 5.6% upside potential.
What is the Price Target for Meta?
Meta Platforms stock, which has gained about 120% year-to-date, also has a negative signal from insiders. Per the
Insider Trading Activity tool, six insiders sold META stock in 12 transactions in May 2023. Meanwhile, its CTO,
Andrew Bosworth, sold META stock worth 71.94K.
Overall, insiders sold META shares worth $8.9M in the past three months.
While
META stock has a negative signal from insiders, it has a Strong Buy consensus rating based on 38 Buy and five Hold. Analysts’ average price target of $287.32 implies 8.6% upside potential from current levels.
Disclosure
ChatGPT, the generative artificial intelligence (AI) chatbot from OpenAI, dazzled the world with its introduction and set off the next race in technology as enterprises big and small figure out how to take advantage of the new AI tech and develop their own generative AI applicati