Category: Stock Market

BHP Group Ltd (ASX: BHP) shares are rising fast on Aussie investors’ radars.

That’s according to the second quarter (Q2 2024) Top Stocks data just out from online investing platform eToro.

The data revealed that Aussies are continuing to invest in Nvidia Corporation (NASDAQ: NVDA) and big tech while also increasing their interest in S&P/ASX 200 Index (ASX: XJO) mining stocks.

Atop fast-rising interest in BHP shares, ASX lithium miners Pilbara Minerals Ltd (ASX: PLS) and Core Lithium Ltd (ASX: CXO) also counted among the top 20 stocks seeing a big rise in investor interest over the past quarter.

BHP shares see big surge in interest

According to the eToro report, BHP shares saw a 24% boost in Aussie retail investor holdings in Q2 compared to the prior quarter.

Retail investor holdings in Core Lithium shares gained 8%, while Pilbara Minerals shares increased 5%.

Commenting on the rise in interest in BHP stock, eToro market analyst Josh Gilbert said, “We’ve also seen investors flock back to local miner BHP as the downturn in China’s real estate sector shows signs of slowing as the government continues to offer support to the sector.”

Gilbert pointed to a recent rise in the iron ore price coupled with the sliding BHP share price as likely driving part of this increased interest.

“There is clearly still a long way to go for China’s economy, but with iron ore prices rising in recent months, investors are seeing the weakness in BHP shares this year as an opportunity,” he said.

As for international stocks like Nvidia…

Move over Apple

It’s not just BHP shares that saw a big increase in interest in Q2.

eToro reported that over the quarter just past, Nvidia overtook Apple Inc (NASDAQ: AAPL) to become the second-most-held stock in Australia. Nvidia continues to dominate AI-related news, likely driving that increased interest.

Elon Musk’s Tesla Inc (NASDAQ: TSLA) maintained its number one spot.

According to Gilbert:

Retail investors continued to flock to AI stocks in the second quarter of 2024, as businesses such as Nvidia and TSMC continue to reap the rewards of the biggest technology revolution we’ve seen for decades.

Taiwan Semiconductor Manufacturing Co (BCBA: TSMC) was the second largest riser for the quarter, enjoying a 25% increase in Aussie retail investor holdings over the three months.

And Gilbert forecasts this trend has some legs.

“We’re unlikely to see this investor migration to AI stocks ease up anytime soon, as these stocks continue to deliver huge profits quarter after quarter, and other AI winners are sure to emerge in the years ahead,” he said.

How have BHP shares been tracking?

Investors may be seeing good value in BHP shares, with the ASX 200 mining stock down 13% in 2024.

The post Why ASX investors are ‘flocking back’ to BHP shares and these other top stocks appeared first on The Motley Fool Australia.

More reading

• Which US shares are ASX investors buying in 2024?
• Prediction: 2 US stocks that will be worth more than Nvidia 5 years from now
• Is Nvidia stock going to $150 in the wake of its high-profile 10-for-1 stock split?
• An ASX dividend titan I’d buy over BHP shares
• Here’s what the iron ore price will be this time next year: Westpac

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Apple, Nvidia, and Tesla. The Motley Fool Australia has recommended Apple and Nvidia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Lynas Rare Earths Ltd (ASX: LYC) shares had a rough ride in FY24, dropping 13%.

Stock in the rare earth explorer started the year trading at $6.85 and finished 12 months later at $5.93 apiece.

Investors are no doubt wondering if FY25 will mark a turnaround for this critical minerals producer. Here’s a recap of last financial year and what’s in store for Lynas shares.

Lynas shares down in FY24

Weaker demand for electric vehicles (EVs) and falling rare earth prices appear to be the primary drivers behind the fall in Lynas shares over FY24.

Lynas, one of just two non-Chinese producers of rare earth elements in the world, is heavily influenced by these market dynamics.

China has global dominance in the rare earths market, with a 70% share in mining and 90% processing capacity. According to my colleague Kate, sluggish EV demand has put pressure on rare earths prices and impacted Lynas’ revenues.

In FY24, the prices for key rare earth elements like neodymium and praseodymium (NdPr) oxide fell by more than 50%.

Neodymium hasn’t recovered, still hovering at CNY457,500 per tonne at the time of writing. Meanwhile, praseodymium is fetching US$95.80 per kilogram, down from highs of $217 per kilogram in January 2022.

Due to the challenging market conditions, Lynas reported a decrease in sales by 36.5% to $234.8 million in its first-half results.

As a result, the company’s net profit after tax (NPAT) of $39.5 million was down 73.6% year over year.

What’s the outlook for Lynas shares?

Lynas doesn’t appear to be resting on its laurels. In its half-year results, the company also announced plans to target the first production of two separated heavy rare earths (HRE) products in 2025.

This includes separated dysprosium (Dy) and terbium (Tb) at its Malaysian facility.

Both are crucial for high-performance magnets used in EVs and other high-tech applications.

Lynas CEO Amanda Lacaze expressed optimism about this development, saying, “This circuit reconfiguration at Lynas Malaysia provides a pathway to accelerate our commitment to processing all of the elements in the Mt Weld ore body.”

Additionally, Lynas is progressing with pre-construction activities for its planned US Rare Earths Processing Facility, designed to accept third-party feedstocks. This facility is part of the company’s strategy to enhance its production capabilities.

What are brokers saying?

Several top brokers see potential in Lynas shares.

Ord Minnett describes Lynas as “the safe way to play the sector”, according to my colleague James. Ord also highlights Lynas’ status as the only significant producer of rare earths outside China.

The broker notes that rare earths prices are currently at depressed levels, potentially making it a ripe time to buy into the sector. It set a buy rating with an $8.00 price target on Lynas shares, implying a potential upside of 28% from current levels.

Similarly, Bell Potter has a buy rating and a $7.80 price target, while Goldman Sachs also maintains a buy rating with a $7.50 price target.

Foolish takeout

While Lynas shares have faced significant headwinds in FY24, the company’s strategic initiatives and the potential recovery of rare earth prices could change the case. Time will tell.

As always, remember to conduct thorough due diligence and stay updated on market developments.

The post Down 13% in FY24, is this the year for Lynas shares? appeared first on The Motley Fool Australia.

More reading

• These are the 10 most shorted ASX shares
• 10 ASX shares to buy in FY25
• 3 high-flying ASX 200 stocks leading the charge into FY 2025
• Top brokers agree that Lynas shares are ‘undervalued’
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

On Wednesday, the S&P/ASX 200 Index (ASX: XJO) had a subdued session and ended the day in the red. The benchmark index fell 0.15% to 7,816.8 points.

Will the market be able to bounce back from this on Thursday? Here are five things to watch:

Strong session expected for the ASX 200

The Australian share market looks set to rebound strongly on Thursday following a very good night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 72 points or 0.9% higher this morning. In the United States, the Dow Jones was up 1.1%, the S&P 500 rose 1% and the Nasdaq stormed 1.2% higher.

Oil prices charge higher

ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a good session after oil prices charged higher overnight. According to Bloomberg, the WTI crude oil price is up 1.2% to US$82.39 a barrel and the Brent crude oil price is up 0.8% to US$85.35 a barrel. A decline in US inventories and positive outlook commentary from OPEC boosted prices.

Buy Light & Wonder shares

Goldman Sachs thinks Light & Wonder Inc. (ASX: LNW) shares are great value at current levels. This morning, the broker has initiated coverage on the cross-platform global games company that provides gambling products and services with a buy rating and $190.00 price target. This implies potential upside of 22% for investors over the next 12 months. It said: “LNW is well-placed to continue winning market share in ANZ and North America gaming operations, driving earnings growth of +12% (2-year CAGR) to achieve its FY25 AEBITDA target of US$1.4bn, which we believe has not been factored into market expectations (GSe +3% above VA consensus).”

Gold price rises

It could be a decent session for ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) after the gold price pushed higher overnight. According to CNBC, the spot gold price is up 0.45% to US$2,378.9 an ounce. US interest rate cut optimism boosted the precious metal.

Aristocrat rated neutral

Aristocrat Leisure Limited (ASX: ALL) shares have been given a neutral rating by analysts at Goldman Sachs. The broker is very positive on the gaming technology company but believes its shares don’t have enough upside to initiate with a buy rating. Goldman has put a neutral rating and $55.30 price target on them instead. This implies potential upside of 7% for investors. It said: “We are most positive on the near to mid-term prospects within land-based gaming, expecting ongoing share gains from the big three, but prefer LNW to ALL given a greater risk-reward skew.”

The post 5 things to watch on the ASX 200 on Thursday appeared first on The Motley Fool Australia.

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• Buy these quality ASX dividend shares for passive income

Motley Fool contributor James Mickleboro has positions in Woodside Energy Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Light & Wonder. The Motley Fool Australia has recommended Light & Wonder. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Looking for a source of income from the share market? Then take a look at the ASX 200 stocks listed below.

Brokers have named them as buys and tipped to provide income investors with good dividend yields. Here’s what you need to know about them:

Inghams Group Ltd (ASX: ING)

The first ASX 200 income stock to look at is Inghams. It is Australia’s leading poultry producer and supplier.

The team at Morgans is feeling very positive about the company and has described its shares as “undervalued” at current levels. This is because it believes Inghams deserves to trade on higher multiples due to its market leadership position and favourable consumer eating trends.

In respect to income, Morgans is forecasting fully franked dividends of 22 cents per share in both FY 2024 and FY 2025. Based on the current Inghams share price of $3.60, this equates to dividend yields of 6.1% for both years.

Morgans has an add rating and $4.25 price target on its shares.

Stockland Corporation Ltd (ASX: SGP)

Another ASX 200 income stock that could be a buy according to brokers is Stockland. It is Australia’s largest community creator. It owns, manages, and develops retail town centres, workplace and logistics assets, residential and land lease communities.

Morgan Stanley is a fan of the company and believes it is well-placed to reward investors with big dividend yields in the near term.

It is forecasting Stockland to pay dividends per share of 24.6 cents in FY 2024 and then 25.8 cents in FY 2025. Based on the current Stockland share price of $4.24, this will mean yields of 5.8% and 6.1% yields, respectively.

Super Retail Group Ltd (ASX: SUL)

A final ASX 200 income stock that could be in the buy zone right now is Super Retail. It is the retail conglomerate behind popular store brands BCF, Macpac, Rebel, and Super Cheap Auto.

Goldman Sachs is very positive about the company in the current complex environment. This is largely due to its vast loyalty program. It highlights that Super Retail is “building a competitive advantage through 11.1mn members and 76% sales to members.” Its analysts expect this to “help drive sales in a more complex operating environment.”

Goldman expects Super Retail to pay fully franked dividends per share of 67 cents in FY 2024 and then 73 cents in FY 2025. Based on the latest Super Retail share price of $13.90, this will mean dividend yields of 4.8% and 5.25%, respectively.

The broker currently has a buy rating and $17.80 price target on its shares.

The post 3 top ASX 200 income stocks to buy now appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Super Retail Group. The Motley Fool Australia has positions in and has recommended Super Retail Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

I’ve owned the ASX dividend share Rural Funds Group (ASX: RFF) for several years now and plan to hold it for a long time.

It’s a real estate investment trust (REIT) that owns farmland in various states, climactic conditions, and farm types. It’s invested in almonds, macadamias, cropping, vineyards, and cattle.

I like owning Rural Funds as a way to gain exposure to Australia’s agricultural sector, which is one industry in which Australia is a global leader.

Here are three key reasons why I think it’s an appealing pick for long-term passive income.

Long rental contracts

Rural Funds has a number of high-quality tenants, which is useful for providing reliable rental income. Those tenants include Olam, The Rohatyn Group, JBS, Select Harvests Ltd (ASX: SHV), Treasury Wine Estates Ltd (ASX: TWE), and Australian Agricultural Company Ltd (ASX: AAC).

The ASX dividend share has a very long weighted average lease expiry (WALE), which means the rental income is locked in for a long time.

As of the FY24 first-half result, the WALE was 12.8 years, with the almond and macadamia leases on particularly long contracts.

As Rural Funds put it: “Long-dated WALE provides stability of income and long-term rental growth via a mix of indexation mechanisms.”

Growing income

Growing rental income can increase the value of the properties and also unlock higher distributions.

Most of the ASX dividend share’s rental income grows with either a CPI-inflation-linked increase or a fixed annual increase, with some contracts having market reviews.

While higher interest rates are currently a headwind for rental profits, rental income growth helps to offset this. It also seems as though interest rates may soon stop rising in Australia.

Rural Funds has been investing in some of its farms to increase the productivity, and therefore the rental and underlying value, of those properties.

Farmland has been an important asset for hundreds of years. I think it will be a good asset to own for many more years.

Strong yield

The ASX dividend share is currently paying a solid annualised distribution of 11.73 cents per unit. That translates into a distribution yield of close to 6%.

That’s not the biggest yield around, but it’s more than what someone could get from a savings account, and there’s good potential for distribution growth in the coming years.

I think Rural Funds is the sort of business that could continue to pay good distributions for decades to come. If farm values keep rising, then shareholders could be on track for fertile passive income.

The post 6% dividend yield! I’m buying this ASX share and holding it for decades appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison has positions in Rural Funds Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Rural Funds Group. The Motley Fool Australia has recommended Treasury Wine Estates. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

DroneShield Ltd (ASX: DRO) shares have been shooting the lights out over the past year.

Despite a 0.93% retrace yesterday to $2.13, shares in the All Ordinaries Index (ASX: XAO) drone defence company are up an eye-watering 719% over 12 months.

Yep, that’s no typo.

To put this blistering performance in perspective, this will have turned a $5,000 investment into $40,962.

In one year.

But with DroneShield shares having now leapt from 26 cents to more than $2, would I be crazy to buy?

Let’s dig in.

What’s been sending the ASX drone defence stock to the moon?

ASX investors have been sending DroneShield shares flying higher amid ongoing and rising global tensions.

As we’ve seen over the last year in hotspots including Ukraine and the Middle East, drones are quickly gaining traction in military conflicts, as well as posing increasing threats to civilian infrastructure, prisons and airports.

With the AI revolution in full swing, the threats posed by ever-increasing autonomous drones are only likely to grow. And the demand for AI-enabled drone defence capabilities is likely to grow alongside those threats.

The last 12 months has seen DroneShield tap into that growing defence demand, inking a series of multi-million dollar contracts with government agencies across the globe.

And this has led to some smashing financial results.

On 15 April, the company reported record first-quarter revenues of $16.4 million, up a whopping 900% from the $1.6 million reported in the prior corresponding quarter.

In its quarterly results, the company also reported having a $27 million contracted backlog and a sales pipeline of over $519 million.

DroneShield shares closed up 11.1% on the day at 95 cents a share.

And shares have kept charging higher from there.

Most recently, on 20 June, shares hit another all-time closing high after the company reported on a $4.7 million order from a new non-government Swiss international customer to provide multiple vehicle-based counter-drone (C-UxS) systems.

So, would I be crazy to buy DroneShield shares at more than $2 apiece?

I think not.

Among the tailwinds that could continue to see it grow are the potential threats and accompanying defence capabilities posed by AI technology.

Commenting on that potential following the $4.7 million C-UxS systems sale on 20 June, DroneShield CEO Oleg Vornik said:

This order highlights DroneShield expertise not only as a maker of cutting-edge AI-based C-UAS sensor and effector technologies, but also a system integrator, for demanding applications that involve multiple sensor and effector modalities, operating in tough conditions. 

What are the experts saying about DroneShield shares?

Turning to what the experts are saying about DroneShield shares, in mid-June, Frazis Capital founder Michael Frazis noted:

DroneShield recorded revenues of $55 million in 2023, more than triple the $17 million in 2022. And analysts forecast 2024 revenues of over $90 million, with the bulk coming from high margin defence contracts…

The opportunity is immense. Less than 1% of infantry units, ships, military bases, and civilian targets are protected against low-cost drones.

The fund managers at Tamim Asset Management are also bullish on the outlook for DroneShield shares, recently stating:

In the most recent quarterly report, DroneShield reported incredible financial results for the first quarter of 2024, with revenue growing 10 times year-over-year and a significant increase in order intake.

As the threat of drone-related incidents continues to rise, DroneShield is well-positioned to capitalise on the increasing need for effective counter-drone technologies.

The post Would I be crazy to buy DroneShield shares now at over $2? appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended DroneShield. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

It was a mixed year for ASX Real Estate Investment Trusts (REITs) in FY24, with some names missing the board, but others like Goodman Group (ASX: GMG) and Scentre Group (ASX: SCG) showing considerable strength.

According to my colleague Mitch, the outlook for ASX REITs is backed by a strong residential property market. And according to Macquarie, the picture could be even brighter than we think.

Analysts at the investment bank issued a recommendation for investors to consider overweight positions in ASX REITs this week.

This comes as part of a strategic shift in response to anticipated changes in the economic cycle and potential interest rate cuts. Let’s take a look at what this means.

Macquarie bullish on ASX REITs

Macquarie says ASX REITs could be at a crucial inflection point in the market cycle, noting that global asset managers are also bullish on the sector.

“This is a key inflection point in the market cycle”, the broker said, according to The Australian Financial Review.

In the past when sentiment was already very bullish, forward returns were weak and led by defensives. When the cycle shifts to a slowdown, the odds of defensives outperforming likewise start to rise.

According to Macquarie, this phase typically yields positive but lower returns for stocks. This could warrant a move towards more defensive investments like healthcare and real estate.

Despite concerns over potential rate hikes from the Reserve Bank of Australia (RBA), global trends suggest that major central banks – including the US Federal Reserve – might soon cut rates.

This outlook supports a particularly favourable environment for ASX REITs, the broker says. Due to their attractive yields, these assets tend to perform well when interest rates decline.

Overweight recommendation on ASX REITs

In light of these insights, Macquarie has upgraded its position on the ASX real estate sector. It recommends investors to be ‘overweight’ with exposure to the domain.

The recommendation is based on the RBA’s potential moves. But, it says the potential for a stronger Australian dollar could also mitigate the need for additional rate hikes by the RBA.

We expected a hawkish shift from the RBA, and it has happened. With the shift to slowdown and global banks easing, there is reason to think the RBA will hold so as not to risk pushing the [AUD] up too far.

Macquarie’s shift towards REITs is part of a broader strategic adjustment. The bank is reducing exposure to sectors more vulnerable to economic downturns, such as banking and mining.

It has increased its exposure to defensive healthcare stocks like ResMed Ltd (ASX: RMD) and CSL Ltd (ASX: CSL) instead.

Foolish takeaway

Macquarie’s recommendation to overweight ASX REITs is driven by its insights into the shifting economic cycle and potential interest rate cuts.

The performance of REITs like Goodman Group and Scentre Group set the bedrock for FY25. As always, it’s imperative to conduct your own due diligence.

The post Why Macquarie says go overweight on ASX REITs now! appeared first on The Motley Fool Australia.

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Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL, Goodman Group, Macquarie Group, and ResMed. The Motley Fool Australia has positions in and has recommended Macquarie Group and ResMed. The Motley Fool Australia has recommended CSL and Goodman Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Telstra Group Ltd (ASX: TLS) stock is regularly viewed as an appealing ASX dividend share to own. This could be a compelling time to consider the company for its passive income and dividend potential.

Businesses that are able to deliver growing earnings can achieve both a rising share price and afford growing dividend payments.

The latest news from Telstra is exciting for shareholders because of what it could mean for revenue, net profit after tax (NPAT) and the potential payouts.

The company announced it would increase the prices for most pre-paid and postpaid mobile plans by between $2 and $4 per month. Telstra justified this decision by saying it needs to continue to “invest to manage the technology evolution and continued strong customer demand on its mobile network.”

The telco noted traffic on Telstra’s mobile network is growing by approximately 20% per annum.

Why this makes Telstra stock appealing

The Australian reported that Goldman Sachs analyst Kane Hannan reiterated his buy rating on Telstra stock after seeing the price increase news. The analyst said this, combined with the recent Optus price increase, suggests that the telco market remains “rational”.

Goldman Sachs reportedly said the Telstra mobile earnings growth “remains strong”, thanks to subscriber and average revenue per user (ARPU) growth.

Hannan said there are flexibility benefits to the plans no longer being linked to CPI inflation because the core plan prices could experience price rises faster than CPI, while the price-sensitive starter plans can avoid price increases if Telstra decides to do so.

Goldman Sachs now thinks Telstra will increase its profit guidance range from $8.5 billion to $8.7 billion, up from between $8.4 billion to $8.7 billion.

Meanwhile, Macquarie decided to increase its dividend forecast for Telstra stock to 9.5 cents for the first half of FY25 thanks to the better-than-expected mobile price rise.

How big is the dividend yield?

If Telstra were to pay 9.5 cents per share for the interim and final dividends in FY25, this would translate into an annualised payout of 19 cents per share.

At the current Telstra stock price, this would translate into a fully franked dividend yield of around 5% and a grossed-up dividend yield of approximately 7%.

As a starting yield, I think that’s a very good level of income, and there’s potential for ongoing dividend growth if Telstra’s mobile subscriber numbers keep rising. I believe the telco can deliver pleasing shareholder returns in the medium term.

The post Telstra stock pays a massive 7% dividend, and now could be a great time to buy appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group and Telstra Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Here at the Motley Fool, we normally cover the movements and trends of the Australian share market and those of ASX shares. But in today’s modern world, ASX investors are increasingly looking beyond our shores in the search for the best investments available. And most of the world’s best investments that aren’t ASX shares are arguably found on the US markets.

The US markets are home to what are indisputably the best companies in the world. Coca-Cola, American Express, Berkshire Hathaway, Netflix, Mastercard, Apple, NVIDIA, Amazon… these world-dominating companies are all US shares, and call the American markets home.

So it makes sense that ASX investors might want a slice of come of these businesses. After all, while ASX investors are justifiably fond of the likes of Westpac Banking Corp (ASX: WBC), Telstra Group Ltd (ASX: TLS) and Coles Group Ltd (ASX: COL), these ASX shares can’t hold a candle to the names above when it comes to global dominance in their fields.

But many Australian investors might want to know which US shares are being bought by Australian investors in particular. Luckily, financial services and brokerage company eToro has provided some data on this subject.

The ten most popular US shares for ASX investors

Here are the ten most widely-held US shares on eToro’s platform over the quarter ended 30 June 2024:

1. Tesla Inc (NASDAQ: TSLA)
2. NVIDIA Corporation (NASDAQ: NVDA)
3. Apple Inc (NASDAQ: AAPL)
4. Amazon.com Inc (NASDAQ: AMZN)
5. Microsoft Corporation (NASDAQ: MSFT)
6. Meta Platforms Inc (NASDAQ: META)
7. Nio Inc (NYSE: NIO)
8. Alphabet Inc (NASDAQ: GOOG)(NASDAQ: GOOGL)
9. GameStop Corp (NYSE: GME)
10. Alibaba Group Holding (NYSE: BABA)

These ten US shares are unchanged from the previous quarter’s figures. However, their positions in this top ten list have changed. Nvidia replaced Apple in the number two spot, while Nio was usurped by Meta in number six. Gamestop also bumped off Alibaba for the ninth position.

Meme stocks and tech giants

So it’s not too surprising to see these companies take out the top US share positions for ASX investors. Tesla, Nvidia, Apple, Amazon, Microsoft, Meta and Alphabet (Google and YouTube owner) are all household names with products most of us probably use every day.

These US shares are well-known for having delivered massive windfalls to their investors in the past, which many ASX investors probably (and reasonably) assume will continue into the future, given their ongoing dominance.

Gamestop, Nio and Alibaba are more interesting though.

Both Gamestop and Nio have made names for themselves as ‘meme stocks’. These shares are subject to huge swings in volatility on a regular basis, and have become popular ‘swing trades’.

Chinese e-commerce giant Alibaba is one of the largest companies in China, but it has lost more than 75% of its value over the past four years or so. Consequently, some ASX investors may be betting on a big recovery.

But those are the US shares ASX investors have been buying over the past three months. Let’s see if it’s the same names that pop up next quarter.

The post Which US shares are ASX investors buying in 2024? appeared first on The Motley Fool Australia.

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Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. American Express is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Sebastian Bowen has positions in Alphabet, Amazon, American Express, Apple, Berkshire Hathaway, Coca-Cola, Mastercard, Meta Platforms, Microsoft, Telstra Group, and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Alphabet, Amazon, Apple, Berkshire Hathaway, Mastercard, Meta Platforms, Microsoft, Netflix, Nvidia, and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Alibaba Group and has recommended the following options: long January 2025 $370 calls on Mastercard, long January 2026 $395 calls on Microsoft, short January 2025 $380 calls on Mastercard, and short January 2026 $405 calls on Microsoft. The Motley Fool Australia has positions in and has recommended Coles Group and Telstra Group. The Motley Fool Australia has recommended Alphabet, Amazon, Apple, Berkshire Hathaway, Mastercard, Meta Platforms, Microsoft, Netflix, and Nvidia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen has positions in Telstra Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Megaport and Pinnacle Investment Management Group. The Motley Fool Australia has positions in and has recommended Pinnacle Investment Management Group, Steadfast Group, and Telstra Group. The Motley Fool Australia has recommended Jb Hi-Fi and Megaport. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.