Apple and Nvidia were two stocks singled out for gains in March by a fund with holdings picked by artificial intelligence, which also decided to dump shares in Alphabet and Meta.
AI-powered investor Qraft, a SoftBank-backed South Korean fintech with around $50 million in assets across four exchange-traded funds, ditched a big position in Google’s parent, Alphabet (GOOGL), this month. It also unloaded a stake in Meta Platforms (FB).
Its Large Cap Momentum ETF (AMOM) went bullish on Apple (AAPL) instead, scooping up enough stock to make it the fund’s largest holding with a portfolio weight of 7.9%. Alphabet and Meta were previously AMOM’s largest and third-largest positions, respectively. Nvidia (NVDA) remains the second-largest holding in the fund, with a portfolio weight of 6.6%.
Theoretically, researchers have shown that AI investing strategies can beat the market by up to 40% on an annualized basis, when tested against historical data, though some experts caution that AI-run funds won’t “crack” the code of the stock market.
MacDailyNews Take: Natural Intelligence picks Apple, too.
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I read that headline as “A trader who specializes in Artificial Intelligence” dumped google and meta for Apple and Nvidia. Kinda didn’t make sense from an AI perspective. Then I read it again. Now it makes lots of sense.
Me too. Also, the market has already dumped Meta.
People left Meta in droves. Mark Suckerberg panicking then he wrote a long message as long as a 500 pages book.