In this article we will take a look at the some notable stocks that trended this week. You can skip our detailed analysis of these stocks and go to read Why These 5 Stocks Were in the Spotlight This Week.
Some stocks that trended this week include Visa Inc. (NYSE:V), Mastercard Incorporated (NYSE:MA), Apple Inc. (NASDAQ:AAPL), Microsoft Corporation (NASDAQ:MSFT), NVIDIA Corporation (NASDAQ:NVDA), Arista Networks, Inc. (NYSE:ANET), and Twitter, Inc. (NYSE:TWTR). Let’s analyze why each stock was in the spotlight and how elite funds were positioned among them.
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10. Apple Inc. (NASDAQ:AAPL) trended this week after the company reported in-line earnings for the fourth quarter of $1.24 per share and sales of $83.36 billion versus estimates of $84.85 billion. iPhone sales for the period was $38.87 billion versus $26.44 billion in the same period last year. Despite the sales miss, Jim Suva of Citi has a ‘Buy’ rating and a $170 price target on Apple Inc. (NASDAQ:AAPL), writing the results weren’t a ‘thesis changer’. Warren Buffett’s Berkshire Hathaway was long 887,135,554 shares of Apple Inc. (NASDAQ:AAPL) at the end of Q2.
9. Microsoft Corporation (NASDAQ:MSFT) ended the week as the world’s most valuable tech company with a market cap of $2.49 trillion versus Apple’s $2.48 trillion. Microsoft did so with a rally of 7.24% this week thanks in part due to strong earnings for the first quarter. For the period, MSFT earned an adjusted EPS of $2.27 versus the consensus of $2.07. Revenue was $45.3 billion versus the consensus of $43.97 billion. Microsoft Corporation (NASDAQ:MSFT) was one of the most widely held stocks among smart money funds in our database at the end of the second quarter.
8. NVIDIA Corporation (NASDAQ:NVDA) rallied 11.29% thanks in part to the news this week that Facebook will substantially increase its capital expenditure budget for 2022 to make the metaverse a reality. If Facebook spends more, NVIDIA Corporation (NASDAQ:NVDA) could find it easier to sell more chips for machine learning. Ken Fisher’s Fisher Asset Management was long 4.84 million shares of NVIDIA Corporation (NASDAQ:NVDA) at the end of September.
7. Arista Networks, Inc. (NYSE:ANET) rose 4.95% this week also thanks in part to the news that Facebook is increasing its capital expenditure plans next year. If Facebook spends substantially more, Arista Networks, Inc. (NYSE:ANET) could find it easier to sell more products. Steve Cohen’s Point72 Asset Management was long 282,000 shares of Arista Networks, Inc. (NYSE:ANET) at the end of June.
6. Twitter, Inc. (NYSE:TWTR) fell almost 13% this week as weak U.S. user growth numbers and analyst price target cuts weighed on the stock. According to its third quarter earnings result, Twitter’s userbase in the U.S. only grew by one million from a year ago. Brent Thill of Jefferies cut his price target on Twitter, Inc. (NYSE:TWTR) to $70 from $80. Catherine D. Wood’s ARK Investment Management was long more than 12.4 million shares of Twitter, Inc. (NYSE:TWTR) at the end of June.
Like Apple Inc. (NASDAQ:AAPL), Microsoft Corporation (NASDAQ:MSFT), NVIDIA Corporation (NASDAQ:NVDA), Arista Networks, Inc. (NYSE:ANET), and Twitter, Inc. (NYSE:TWTR), Visa Inc. (NYSE:V) and Mastercard Incorporated (NYSE:MA) also trended.
Click to continue reading and see Why These 5 Stocks Were in the Spotlight This Week.
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Disclosure: None. Why These 10 Stocks Were in the Spotlight This Week is originally published on Insider Monkey.
