Online brokerage eToro has published the key findings of its latest Retail Investor Beat survey.
More than one in four retail investors (27%) plan to scale back investments in the so-called ‘Magnificent 7’ big tech stocks in 2024.
In the study of 10,000 retail investors across 13 countries, 11% said that they plan to sell some of their holdings in the Magnificent 7 this year (which includes Amazon, Apple, Microsoft, Meta, Tesla, Nvidia and Alphabet), locking in profits and reducing their allocation to these market-dominating stocks. A further 16% said they would reduce the amount of new capital they invest in these companies in the months ahead.
The RIB findings follow a blockbuster 14 months for these seven companies, with their collective share price up 90% since January 2023. The findings also come ahead of several anticipated…
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