13F Tracker: Hedge Funds Trim Big Tech, Add Cyclical Exposure
@Chris23:
US Tech stocks have marked an impressive and dynamic start to the year 2023, showcasing a remarkable rally that has seen the Nasdaq surge by nearly 40% year-to-date. This phenomenal surge has been largely attributed to the exceptional performance of the 'magnificent seven' tech giants: $Apple(AAPL)$ (Apple), $Microsoft(MSFT)$ (Microsoft), $Meta Platforms, Inc.(META)$ (formerly known as Facebook), AMZN (Amazon), NFLX (Netflix), $Tesla Motors(TSLA)$ (Tesla), and $NVIDIA Corp(NVDA)$ (Nvidia). Collectively, these tech behemoths have accounted for over 70% of the overall gains, playi