NVIDIA's first-quarter performance exceeded expectations across the board, once again igniting hedge funds' enthusiasm for giant tech stocks.
According to data from Goldman Sachs' prime brokerage business, after NVIDIA released its first-quarter report last week, hedge funds' exposure to the &#34;Big Seven&#34; US stocks reached a historic high.
The report shows that NVIDIA, Apple, Amazon, Meta Platforms, Google's parent company Alphabet, Tesla, and Microsoft currently account for around 20.7% of hedge funds' total net exposure to individual US stocks.
Based on the financial report released last Thursday, NVIDIA achieved record-high total revenue and data center revenue in the first quarter, raised its Q2 revenue guidance above expectations, announced a 10:1 stock split, and significantly increased its dividend payout.
Since the release of the first-quarter report, NVIDIA's stock price has surged by over 20%, increasing its market value by $470 billion to $2.81 trillion, trailing behind Apple, the world's most valuable company, by only $100 billion.
However, during this period, the stock prices of other tech giants have performed averagely.
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/000ab6e3-aece-4c0a-8f0e-97938461c45f.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/000ab6e3-aece-4c0a-8f0e-97938461c45f.png"/>

NVDA

NVDL

SOXL

The "Seven Sisters" of the US stock market currently account for more than 20% of the total net exposure of hedge funds to individual US stocks

Wallstreetcn

With the soaring stock price of NVIDIA, hedge funds have increased their exposure to the "Seven Sisters" of US stocks to a record high