Key Points
During the second quarter of 2023, major hedge funds significantly increased their investments in three key stocks: Amazon (NASDAQ: AMZN), Alphabet (NASDAQ: GOOG, GOOGL), and Taiwan Semiconductor (NYSE: TSM). This activity comes as investors react to strong earnings reports and growth prospects in AI-related sectors.
Amazon reported a 37% year-over-year growth in its AWS division, alongside a 16% increase in North American sales and a 15% rise in international revenue. Alphabet’s Google Cloud revenue surged 82% in Q2, marking one of the highest growth rates in the company’s history. In addition, Taiwan Semiconductor remains a dominant player in the AI chip market, with continued demand positioning it favorably for future growth.
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