In the first quarter of 2024, institutional investors shifted their attention towards technology stocks, as seen in the WhaleWisdom 13F heat map. The chart highlighted increased interest in stocks like Oracle Corp., Global Payments Inc., and Micron Technology, Inc. leading the pack in the information technology sector.
Oracle emerged as the top pick among institutional investors, with strong confidence in its performance indicated by an average portfolio rating of 11. Additionally, two filers increased their positions in Oracle, reflecting positive sentiment towards the company’s future prospects.
Global Payments Inc. secured second place, with growing institutional confidence shown by an increase in positions by three filers. Micron took third place with renewed interest in its capabilities in the technology sector.
While Oracle, Global Payments, and Micron gained attention, other tech stocks like Applied Materials Inc. and Broadcom Ltd. held strong positions among the top 10 holdings of several filers. Nvidia and Apple, traditional giants in the tech sector, saw some reductions in positions, indicating a shift in preference towards emerging leaders like Oracle, Global Payments, and Micron.
The first quarter of 2024 revealed a significant shift in institutional investment strategies within the technology sector, with a focus on emerging leaders over traditional giants. This trend highlights the evolving nature of institutional investment preferences and the growing confidence in the growth and stability of these emerging technology companies.
As the year progresses, it will be interesting to see if these preferences continue to evolve with changing market conditions. This shift in focus towards emerging leaders like Oracle, Global Payments, and Micron reflects the dynamic nature of the technology industry and the strategies of institutional investors.
Article Source
https://www.benzinga.com/general/hedge-funds/24/05/38926537/institutional-investors-favor-oracle-global-payments-micron-stocks-over-apple-and-nvidia-in-q
