Top 20 trades in US stocks by Sharesight users – October 2023

Welcome to the October 2023 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 strongly led by Tesla (NASDAQ: TSLA), which saw its share price plunge following weak Q3 earnings. Trades were followed by Apple (NASDAQ: AAPL), which has seen fluctuating share prices ahead of the release of its Q4 earnings report later this week. It was a tech-heavy month overall, with 11 of the top 20 stocks belonging to the tech, EV and e-commerce sectors.

Top 20 US stock trades October 2023

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

Tesla (NASDAQ: TSLA)

• Tesla’s Q3 earnings plummet due to price cuts
• Chinese rival automaker BYD closes in on Tesla
• Hertz rolls back Tesla fleet plans due to higher-than-expected repair costs and price cuts.

Apple (NASDAQ: AAPL)

• Apple achieves record sales of almost US$6 billion in India
• Apple’s “carbon neutral” claims come under scrutiny in Europe
• Chinese vice premier welcomes Apple investment.

NVIDIA (NASDAQ: NVDA)

• US orders halt to some AI chip exports to China, according to NVIDIA
• NVIDIA shares fall following announcement of US restrictions on AI chip exports
• NVIDIA and iPhone maker Foxconn plan to build “AI factories”.

Microsoft (NASDAQ: MSFT)

• Microsoft stock jumps after Q1 earnings beat analysts’ expectations
• Plans to help Australia build ‘cyber shield’
• Analysts see further upside for Microsoft stock.

Amazon (NASDAQ: AMZN)

• Amazon almost triples YoY profit, according to Q3 earnings report
• Share price surges following strong Q3 earnings
• Amazon share price has its best two days of the year.

Coca-Cola (NYSE: KO)

• Coke beats analysts’ expectations in Q3 earnings results; reports volume growth
• Despite strong Q3 earnings, foreign exchange rates remain a problem for Coke
• Coke CEO denies that Ozempic is a threat.

Alphabet (NASDAQ: GOOGL)

• Alphabet share price drops despite better-than-expected earnings results
• Alphabet’s cloud division misses revenue estimates while Microsoft cloud booms
• Google CEO defends company’s search deals in antitrust trial.

Track your investment portfolio with Sharesight

Get access to Sharesight20 insights like this by tracking your investment portfolio with Sharesight. Built for the needs of investors like you:

• Track all your investments in one place, including stocks, mutual/managed funds, property, and even cryptocurrency
• Get the true picture of your investment performance, including the impact of brokerage fees, dividends, and capital gains with Sharesight’s annualised performance calculation methodology
• Run powerful reports built for investors, including performance, portfolio diversity, contribution analysis and future income
• Run tax reports including taxable income (dividends/distributions), capital gains tax (Australia and Canada), traders tax (capital gains for traders in NZ) and FIF foreign investment fund income reports (NZ)

Sign up for a FREE Sharesight account and get started tracking your investments today.

Disclaimer: The above article is for informational purposes only and does not constitute a specific product recommendation, or taxation or financial advice and should not be relied upon as such. While we use reasonable endeavours to keep the information up-to-date, we make no representation that any information is accurate or up-to-date. If you choose to make use of the content in this article, you do so at your own risk. To the extent permitted by law, we do not assume any responsibility or liability arising from or connected with your use or reliance on the content on our site. Please check with your adviser or accountant to obtain the correct advice for your situation.

FURTHER READING

• Subscribe to Sharesight20 trading snapshots
• How Sharesight calculates your investment performance
• Top 20 trades in US stocks by Sharesight users – September 2023