NVIDIA, often seen as the biggest winner of the AI boom, is poised to surpass Tesla this year as the most purchased stock by individual investors, according to data from Vanda Research.
According to Vanda Research, as of December 17, individual investors had purchased $30 billion worth of NVIDIA shares.
This figure nearly doubles the inflows into the SPDR S&P 500 ETF, which follows the S&P 500 index. Vanda Research predicts that NVIDIA will claim the title of the most purchased stock by individual investors in 2024, surpassing Tesla.
Tesla held the top spot for individual investor purchases last year.
Marco Iachini, senior vice president at Vanda Research, told CNBC, “Nvidia turned out to be the one stock that kind of stole the show from Tesla because of impressive price gains. The company’s performance speaks for itself.” NVIDIA, one of the Magnificent Seven, has captivated global investors for over a year.
NVIDIA’s stock price increased substantially this year, competing with Apple and Microsoft for top market capitalization.
The stock price soared from around $49-50 in late December last year to approximately $140 this year. NVIDIA officially joined the Dow Jones Industrial Average (DJIA) in November, replacing Intel Corporation.
Vanda Research reports that NVIDIA now comprises over 10% of the average retail investor’s portfolio, up from 5.5% earlier this year.
The firm estimates that the total amount invested by individuals in NVIDIA this year has surged by more than 885% compared to three years ago.
Earlier, Morgan Stanley named NVIDIA a top pick for 2025 and set a target price of $166.
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