Top Funds Pour Money Into Apple, Microsoft And These 2 Sectors

Must read

Broadcom Gives Downbeat Forecast, Signaling Sluggish Chip Demand

(Bloomberg) -- Broadcom Inc., a supplier of chips to Apple Inc. and a broad swath of the tech industry, gave a disappointing forecast for...

23 Festival Outfit Ideas To Inspire Your Summer Style

Ever stand in front of your jam-packed closet, staring at more than enough clothing options, and think: I have nothing to wear? Same. But...

ALL THEM WITCHES Announces Tour, Playing Three Albums In Full

All Them Witches will hit the road for a massive tour...

UNDERGANG Announces First US Dates Since 2017

Tour Dates Happening in July and October....

As Apple (AAPL) dives into augmented and virtual reality with its Vision Pro headset, the best mutual funds pour real money — $2.6 billion — into AAPL stock. In the latest list of new buys by top funds, these savvy investors also lasered in on fellow tech titan Microsoft (MSFT), scooping up $2.4 billion worth of MSFT stock.


Wall Street was perhaps disoriented by Apple’s unveiling of the price tag for Vision Pro, which starts at $3,499. Analysts had expected a cost of around $3,000 for the device set to go on sale early next year. Apple stock has shaken off the initial dip following the announcement.

Both Apple and Microsoft rose early Friday.

Broadcom (AVGO), Adobe (ADBE), ServiceNow (NOW), Oracle (ORCL) and Applied Materials (AMAT) are among 10 companies taking in an estimated $109 million to $341 million in this month’s report.

Within that elite group, leading investors also found shelf space for retail giant Walmart (WMT), investing roughly $207 million in WMT stock. Walmart ended the week in buy range.

Microsoft spearheads the dominant presence of software sector stocks across a broad range of industry groups on the list of new buys by the best mutual funds, with 38 companies making the grade. Broadcom joins 11 other semiconductor sector stocks that have etched their names on the latest report.

Click here to see the full list of new buys by top funds.

Apple, Microsoft Top Big Bets By The Best Mutual Funds

Further confirming their strength and institutional demand, five of the 12 companies below have also secured a spot on premier IBD stock lists.

ServiceNow and AMAT stock both earn a spot on the IBD Big Cap 20. ServiceNow also joins CRM stock on the IBD 50, while Microsoft continues its longtime presence among IBD Long-Term Leaders.

Adobe stock gapped up into buy zone Friday. On Thursday, the company announced new enterprise applications for its Firefly software for generative artificial intelligence. Adobe stock gapped up into buy zone Friday.

Company Symbol $ Amt Invested (mil) Comp Rating EPS Rating RS Rating Ind Group RS SMR Rating
Apple AAPL 2,600 90 80 89 B A
Microsoft MSFT 2,392 97 90 92 A A
Broadcom AVGO 341 97 95 95 A+ A
Adobe ADBE 246 98 95 87 A A
ServiceNow NOW 238 99 99 89 A A
Equinix EQIX 230 90 88 80 C C
Salesforce CRM 207 98 98 92 A B
Walmart WMT 207 84 88 81 C B
Accenture ACN 181 87 82 82 C+ B
Oracle ORCL 155 98 84 94 A+ A
Applied Materials AMAT 111 98 88 91 A+ A
S&P Global SPGI 109 90 88 78 C+ A
*Ratings as of June 8 market close

Microsoft Leads Software Sector Domination

Software companies commanded an unmistakable presence on the latest list of new buys by the best mutual funds. But it’s also important to zero in on specific industry groups within the broader sector.

From Windows and Azure Cloud to Xbox, Microsoft AI and beyond, Microsoft operates across a wide range of business segments. It’s classified in the Desktop industry group, alongside Adobe.

NOW, CRM Lead In-Demand Enterprise Software Group

ServiceNow, Salesforce (CRM), Workday (WDAY), Datadog (DDOG), Dynatrace (DT) and Palantir (PLTR) lead the Computer Software-Enterprise group. With a crop of 14 stocks, enterprise software tops all the software groups in terms of the number of companies on the list of new buys by top funds.

Hailing leading IPOs from the Class of (MNDY) has also worked its way on the screen of new buys by the best mutual funds. Earlier this month, the productivity software play was profiled in The New America column.

MNDY stock closed the week in buy range.

Company Symbol $ Amt Invested (mil) Comp Rating EPS Rating RS Rating SMR Rating
ServiceNow NOW 238.29 99 99 89 A
Salesforce CRM 207.28 98 98 92 B
Workday WDAY 27.57 99 98 89 A
Palantir Technologies PLTR 16.31 99 81 98 C
Cloudflare NET 11.6 99 81 85 B
Datadog DDOG 11.29 98 99 87 A
Dynatrace DT 5.51 99 99 92 A
Nutanix NTNX 4.93 88 81 92
JFrog FROG 4.55 99 81 90 C
Manhattan Associates MANH 1.53 99 95 95 A
Blackbaud BLKB 0.64 95 79 93 B MNDY 0.61 97 81 95 C
UiPath PATH 0.37 98 81 88 C
Qualtrics International XM 0.13 99 81 94 C
*Ratings as of June 8 market close

Bets By The Best Mutual Funds In The Chip Sector

Led by AVGO, AMAT and ASML, 12 stocks have earned a spot on this month’s list of new buys by top funds. Like with the software sector, semiconductor stocks can hail from a range of chip-rated industry groups.

AMAT, ASML, Lam Research (LRCX), KLA (KLAC) and Axcelis Technologies (ACLS) all are in the semiconductor equipment group. The group ranks a strong No. 15 out of the 197 industries IBD tracks.

Broadcom, Rambus (RMBS) and Lattice Semiconductor (LSCC) are among those in the fabless chip group, which ranks No. 12.

Company Symbol $ Amt Invested (mil) Comp Rating EPS Rating RS Rating SMR Rating
Broadcom AVGO 807 97 95 95 A
ASML ASML 723 99 95 91 A
Lam Research LRCX 617 95 88 93 A
Monolithic Power Systems MPWR 490 98 98 82 A
KLA KLAC 443 97 95 92 A
Axcelis Technologies ACLS 158 99 96 99 A
Applied Materials AMAT 133 98 88 91 A
Nova NVMI 108 95 88 91 A
Onto Innovation ONTO 107 95 85 96 B
ON Semiconductor ON 84 89 85 91 A
Lattice Semiconductor LSCC 81 97 99 91 A
Rambus RMBS 64 99 97 98 A
*Ratings as of June 8 market close

Follow Matthew Galgani on Twitter at @IBD_MGalgani.


U.S. Economic Optimism Is Stuck In A Rut As Debt-Ceiling Deal Gets Thumbs-Down

Apple Investor Focus Shifts To iPhone 15 Introduction After Headset Debut

Use Technical Analysis To Pinpoint When To Buy Growth Stocks

Having Trouble Spotting Buy Points? Try This Pattern Recognition Tool

More articles

Latest article

5 Warm-Weather Outfit Ideas For People Who Hate Summer Style

Photo: Jeremy Moeller/Getty Images.I’ll go right ahead and say it: I am not a summer fashion person. Growing up in Puerto Rico, warm-weather clothing...

This janitor in Vermont amassed an $8M fortune without anyone around him knowing. Here are the 3 simple techniques that made Ronald Read rich...

Warren Buffett is reported to have once said, “You don't need to have extraordinary effort to achieve extraordinary results. You just need to do...

Agency Owner Tucker Mooring on the Exciting New Offerings of TC Marketing Ventures

Digital marketing is becoming increasingly important for success as people embrace technology and online shopping. Today, more than half of the world has access...

THY ART IS MURDER Delays New Album By One Week

Thy Art Is Murder has delayed their new record Godlike from...