Seeking Alpha readers rushed into shares of Amazon (NASDAQ:AMZN) last week, according to an analysis of portfolio data. They were drawn to the megacap by a recent stock split and stock buyback.
At the same time, Apple (AAPL) found significant support as well. The rally of the past few days encouraged many to move back into high-quality technology names.
Meanwhile, oil volatility kept its place near the front of every investor’s mind last week. Even with crude coming off its recent high, SA readers stuffed their portfolios with oil tickers, including WTI crude oil (CL1:COM), Brent crude (C01:COM) and Halliburton (HAL).
Amazon (AMZN) was one of the key players during the pandemic, seemingly becoming almost every consumer’s go-to shopping destination during the lockdowns. Since then, the company has become something of an also-ran among the megacaps, with firms like Tesla and Google getting more attention starting in the second half of 2021.
However, last week, SA readers rushed into shares of the Jeff Bezos-founded online retailer. The stock was added to portfolios at a rate of 4:1 compared to deletions.
The move came as the company weathered a COVID surge in China, which impacted a key supplier and created a “manageable but significant” exposure.
Still, experts remained bullish on the firm’s overall future. Closely watched Wedbush analyst Dan Ives called the stock a top buy, arguing that the Federal Reserve’s interest rate announcement provided a “bright green light” for investors to jump back into the tech sector.
Russia’s invasion of Ukraine sparked a wave of supply concerns in the oil market, at one point sending crude to $130 a barrel. The commodity has moderated lately, ending Friday below $105 per barrel.
With the recent volatility, Seeking Alpha readers have loaded up their portfolios with oil-related names. This starts with the price of crude itself. WTI crude oil (CL1:COM) was added last week at a ratio of 8:1 compared to deletions. Meanwhile, Brent crude (C01:COM) became part of portfolios at a pace of 9:1.
In addition, SA readers showed a preference for companies poised to benefit from the high price of oil. Halliburton (HAL) provided an example, with readers adding the stock at a pace of 4.5:1.
For an in-depth look at the Ukraine crisis and its impact on oil prices, read in-depth analysis from SA contributor Brett Rodway.