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AMAZON EMERGES AS HEDGE FUNDS' TOP STOCK CHOICE IN Q2, SURPASSING MICROSOFT WITH
411 HOLDERS

by Benzinga Neuro, Benzinga Staff Writer



August 28, 2024 6:07 AM | 3 min read | Make a Comment



--------------------------------------------------------------------------------

20-YEAR PRO TRADER REVEALS HIS “MONEYLINE” — SIMPLE TRADES


A simple line tells you when to buy and when to sell that’s helped Nic win 83%
of his trades. Click here for access.

--------------------------------------------------------------------------------

Amazon.com Inc. AMZN has emerged as the most popular stock among hedge funds by
the end of the second quarter.

What Happened: Amazon, the e-commerce and cloud computing giant, was held by 411
hedge funds at the end of June, marking a net increase of 13 investors from the
previous quarter, Institutional Investor reported citing data from SEI Novus.

This shift saw Amazon surpass Microsoft Corp. MSFT, which experienced a net loss
of six hedge fund investors, bringing its total to 399. Microsoft had maintained
the top spot for over two years.



New hedge fund investors in Amazon included Discovery Capital Management, and
Hound Partners, based on their second-quarter 13F filings.

As of Jun 30, according to data from SEI Novus, the 10 most widely held stocks
among hedge funds are as follows: Amazon.com Inc. leads with 411 hedge fund
investors, followed closely by Microsoft with 399, and Alphabet Inc. Class A
GOOGL with 316.

Apple Inc. AAPL and Meta Platforms Inc. META hold 314 and 306 positions,
respectively. NVIDIA Corp. NVDA is held by 296 hedge funds, while Visa Inc. V is
held by 249. Alphabet Inc. Class C GOOG has 244, Mastercard Inc. MA has 216, and
Berkshire Hathaway Inc. BRK is held by 204 hedge funds.

Other notable stocks with significant hedge fund interest include Broadcom Inc.
AVGO and Taiwan Semiconductor Manufacturing Co. TSM, both ranking among the top
20 most widely held stocks.



See Also: Top Nvidia Analyst Sees No Major Impact From Blackwell Delay, But
Flags One Caveat He’s Wary About Ahead Of Earnings

Why It Matters Amazon’s rise to the top of hedge fund preferences is significant
in the context of its recent advancements and strategic moves.

On Friday, Amazon CEO Andy Jassy highlighted the impact of their generative
artificial intelligence assistant, Amazon Q, which has saved the company $260
million and 4,500 developer-years of work. This AI tool has drastically reduced
software upgrade times, demonstrating Amazon’s commitment to innovation and
efficiency.

Additionally, Amazon’s collaboration with Accenture to launch the Accenture
Responsible AI Platform powered by Amazon Web Services (AWS) further underscores
its leadership in AI. This platform aims to help organizations adopt and scale
AI securely and efficiently.



Recently, Eric Jackson the founder of EMJ Capital who sold Amazon, in July, said
the shares of the e-commerce giant are "darn" cheap, as on a five-year forward
price/earnings basis, it was trading at an all-time low multiple. There was
nothing wrong with the earnings the company reported a couple of weeks ago, he
said, adding the stock is definitely on his radar.

Read Next:

GOP Congress Member Nancy Mace: ‘They Haven’t Done Anything,’ Slams DNC Cannabis
Inaction, Calls Out Republican Reluctance

Image Via Shutterstock

This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote

Market News and Data brought to you by Benzinga APIs

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights
reserved.


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FROM STRATEGY TO SUCCESS: HOW OCTA HELPS SINGAPOREAN TRADERS ACHIEVE THEIR
FINANCIAL GOALS

by Austin DeNoce, Benzinga Staff Writer


August 22, 2024 9:27 AM | 4 min read | Make a Comment

Partner Disclosure

Today, achieving financial goals requires more than just traditional saving and
investing. It demands strategic decision-making and leveraging the most suitable
tools and platforms available. Recent events have highlighted the opportunities
available in the Forex market – even amid stock market crashes.  For Singaporean
investors looking to take charge of their financial futures, Octa presents an
opportunity to navigate the complexities of the Forex market with more
confidence. With a proven track record of helping investors reach their
financial objectives, Octa offers a suite of services with the goal of
maximizing returns while minimizing risks and taking advantage of geoeconomic
trends The Forex market is known for its volatility, which presents risks but
offers significant opportunities for savvy investors. A recent example of this
can be seen in the fluctuations of the USD/JPY currency pair. In early August,
the yen experienced considerable volatility, driven in part by the Bank of
Japan’s decision to raise interest rates, which led to the unwinding of the yen
carry trad This sudden movement in the currency pair provided a lucrative
opportunity for traders who were able to anticipate or quickly react to the
shift in price. These market shifts underscore the importance of staying
informed and having access to a platform like Octa that provides real-time data
and advanced trading tools. By partnering with Octa, Singaporean investors can
capitalize on such opportunities, making strategic trades that align with their
financial goals While replicating Soros’ success might be unlikely in today’s
more regulated and transparent markets, the principles behind his trade remain
relevant. Understanding macroeconomic trends, interest rate policies and
currency alignments is crucial for any successful trader. With Octa, Singaporean
investors have access to the tools and resources needed to analyze market
conditions effectively and make informed trading decisions
Read More



--------------------------------------------------------------------------------




CHINESE EV MAKER LI AUTO Q2 EARNINGS: EPS BEAT, 25% DELIVERIES GROWTH, MARGIN
STRUGGLES AND MORE

by Anusuya Lahiri, Benzinga Editor


August 28, 2024 6:18 AM | 2 min read | 1 Comment


ZINGER KEY POINTS

 * Li Auto’s Q2 revenue of $4.36B missed estimates; vehicle margin fell to 21%.
 * Li Auto forecasts Q3 revenue growth of up to 21.6%, with vehicle deliveries
   up by 47.5%.


Li Auto Inc LI reported fiscal second-quarter 2024 revenue growth of 10.6%
year-on-year to $4.36 billion, marinally missing the analyst consensus of $4.45
billion.  It clocked an adjusted net earnings per ADS of $0.20, which beat
the analyst consensus of $0.1 Vehicle sales increased 8.4% to $4.2 billion,
mainly due to the increase in vehicle deliveries. Total vehicle deliveries were
108,581 units in the quarter, a 25.5% year-over-year increase The vehicle margin
declined by 230 bps year over year to 21.0%, mainly due to changes in product
mix and pricing strategy. The gross margin decreased by 230 bps year over
year to 21.8%, mainly due to reduced vehicle margin Li Auto held cash and
equivalents of $13.4 billion as of June 30, 2024, and used $59.1 million in
operating cash flow for the quarter
Read More



--------------------------------------------------------------------------------




MORTGAGE RATES HIT 17-MONTH LOWS, BUT 'HOMEBUYERS ARE STAYING PATIENT' AS
APPLICATIONS STALL

by Piero Cingari, Benzinga Staff Writer


August 28, 2024 9:19 AM | 2 min read | 1 Comment


ZINGER KEY POINTS

 * Average 30-year mortgage rates fell to 6.44%, the lowest since April 2023,
   marking four weeks of consecutive declines.
 * Despite lower rates, mortgage applications rose just 0.5%, reflecting
   cautious homebuyer sentiment.


Good news is on the horizon for U.S. homebuyers as mortgage rates continue their
downward trend. In the week ending Aug. 23, the average contract interest rate
for 30-year fixed-rate mortgages with conforming loan balances (up to $766,550)
dipped from 6.50% to 6.44%. This marks the lowest level since April 2023 and the
fourth consecutive week of rate declines Yields on a 30-year Treasury bond – a
key benchmark for mortgage costs – fell by 5 basis points to 4.09% in the week
ending Aug. 23 Despite the easing rates, homebuyers are still taking a
wait-and-see approach. Mortgage applications saw a modest increase of 0.5% from
the previous week, according to the Mortgage Bankers Association's (MBA) Weekly
Applications Survey Adjustable-rate mortgages (ARMs) also saw a decrease in
interest rates. The average contract interest rate for 5/1 ARMs fell to 5.98%
from 6.25%, indicating some relief for borrowers seeking more flexible loan
terms
Read More



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EVERY STORY THAT MATTERS AROUND THE WEB

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   $100M by 25 — This Shaped His Decision To Stay On A $1 Salary Throughout His
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