The broader market indices saw a positive trend in September 2024 as the interest rate cut boosted investor sentiment. The Nasdaq Composite (NDAQ), S&P 500 (SPX), and Dow Jones Industrial Average (DJIA) increased about 2.7%, 2%, and 1.9%, respectively. In this context, we analyzed the Buy and Sell transactions carried out by investors maintaining a TipRanks Smart Portfolio, to gain better insights into trading patterns for the month.
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September’s Most-Bought Stock
Chip giant Nvidia (NVDA) was the most bought stock in September. The company’s dominant position in the artificial intelligence (AI) market and stellar financial performance keep investors confident about its performance. Furthermore, the company’s AI chips remain in high demand due to the increasing adoption of generative AI.
Is Nvidia a Buy, Sell, or Hold?
Nvidia stock has a Strong Buy consensus rating based on 35 Buys and two Hold recommendations. Despite a year-to-date rally of 152% the analysts’ average price target on NVDA of $151.30 implies an upside potential of 21.12% from the current level.
In addition to Nvidia, let’s look at the other most-bought stocks for September.
Top 10 Most-Bought Stocks
Observing the investment trends in September, we discovered investors continued to trade tech stocks, primarily with exposure to AI. Here is the list of the most-bought stocks for September:
- Nvidia
- Microsoft (MSFT)
- Amazon (AMZN)
- Apple (AAPL)
- Alphabet Class A (GOOGL)
- Broadcom (AVGO)
- Meta Platforms (META)
- Tesla (TSLA)
- Micron (MU)
- Alphabet Class C (GOOG)
September’s Most-Sold Stocks
Surprisingly, Nvidia was also the most sold stock by investors, according to the TipRanks Smart Portfolio. Perhaps, investors capitalized on NVDA’s recent price surge, selling their shares to secure profits. While Nvidia was the most sold stock, let’s examine the top 10 list for September.
- Nvidia
- Amazon
- Apple
- Microsoft
- Invesco QQQ Trust (QQQ)
- Tesla
- Broadcom
- Advanced Micro Devices (AMD)
- Meta Platforms
- Super Micro Computer (SMCI)
September’s Most-Held Stocks
Amid market volatility and the subsequent price correction, investors took advantage of the opportunity to buy and hold shares in leading companies, aiming to benefit from their price recovery. Here’s the list of the most-held stocks for September:
- Apple
- Nvidia
- Amazon
- Microsoft
- Tesla
- Alphabet Class A
- Meta Platforms
- Broadcom
- Invesco QQQ Trust
- Chevron (CVX)
We’ll return shortly with the top-traded stocks from October 2024. In the meantime, stay updated on market trends effortlessly by monitoring your portfolio’s performance with the TipRanks Smart Portfolio tool.
