TECH - Hedge Funds' Exposure To Big Tech Hits Record High As Nvidia's Soaring Stock Drives Rally | Benzinga
In the wake of NVIDIACorp‘s (NASDAQ:NVDA) remarkable earnings, hedge funds’ exposure to the top U.S. technology companies has reached an all-time high.
What Happened: The “Magnificent Seven” companies, which include Nvidia, Apple Inc (NASDAQ:AAPL), Amazon.com Inc (NASDAQ:AMZN), Meta Platforms Inc. (NASDAQ:META), Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL), Tesla Inc (NASDAQ:TSLA), and Microsoft Corp (NASDAQ:MSFT), now represent approximately 20.7% of hedge funds’ total net exposure to U.S. single stocks, as per a report by Goldman Sachs Group prime brokerage, reported Bloomberg on Wednesday.
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