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Forget Tesla. Top Funds Love This Non-Mag 7 AI Giant.

Posted on AllSides April 18th, 2024
From The Right

Yes, Tesla (TSLA) remains one of the Magnificent Seven stocks alongside Nvidia (NVDA) and Alphabet (GOOGL). But top funds continue to devour shares of Broadcom (AVGO) as Tesla continues its slide. Broadcom stock now accounts for a greater percentage of the Nasdaq's market capitalization than the electric-vehicle pioneer. While not considered one of the Magnificent Seven, Broadcom accounts for 1.9% of the Nasdaq's market cap weighting, topping the 1.6% for Tesla. And the artificial intelligence player is prompting leading money managers to keep gorging on the AI stock. Joining Nvidia,...

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