Top 20 trades in US stocks by Sharesight users – January 2024

Welcome to the January 2024 edition of Sharesight’s monthly USA trading snapshot, where we look at Sharesight users’ top 20 trades in US stocks on the Nasdaq, NYSE and NYSE American market (AMEX) over the month.

In this snapshot, buy and sell trades were led by Tesla (NASDAQ: TSLA), which saw its share price plummet following a disappointing Q4 earnings report. The top trades were followed by Apple (NASDAQ: AAPL), which started 2024 in a rare decline not seen since 1982. It was a tech-dominated month overall, with 13 of the top 20 stocks belonging to the tech, EV, semiconductor, aerospace and e-commerce sectors.

Top 20 US stock trades January 2024

Let’s look at the news behind some of the key stocks in this month’s snapshot:

Tesla (NASDAQ: TSLA)

• Tesla shares drop amid Red sea delays, growing labour costs and price cuts
• Chinese rival BYD overtakes Tesla’s EV sales in Q4 2023
• Share price drops as Tesla’s Q4 revenue and earnings miss expectations

Apple (NASDAQ: AAPL)

• Apple shares plummet following broker downgrades linked to iPhone sales concerns
• Share price jumps on BoA upgrade citing likely AI boost for iPhones
• Apple shares start the year in rare decline

NVIDIA (NASDAQ: NVDA)

• NVIDIA share price hits record high
• Share price soars due to growing AI demand
• NVIDIA remains one of the cheapest ways to invest in AI, says analyst

Microsoft (NASDAQ: MSFT)

• Microsoft shares rise on news of AI initiatives
• Microsoft briefly dethrones Apple as world’s most valuable company
• Cuts 1,900 employees and hits US$3 trillion market cap

Realty Income (NYSE: O)

• Realty Income diversifies its portfolio with Spirit Realty acquisition
• Realty Income spent US$9.5 billion on acquisitions in 2023, could spend more in 2024
• Is Realty Income a buy as interest rates fall?

Amazon (NASDAQ: AMZN)

• Analysts across the board name Amazon as one of their top stock picks of 2024
• Amazon share price on watch ahead of earnings report
• EU competition watchdog reportedly plans to block Amazon’s acquisition of iRobot

Meta (NASDAQ: FB)

• Meta spends billions on NVIDIA chips to boost AI infrastructure
• Share price hits record high as Q4 earnings loom
• Meta CEO sold almost half a billion in Meta shares over past two months

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FURTHER READING

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• How Sharesight calculates your investment performance
• Sharesight users' top trades in US, ASX and NZX stocks – December 2023