US technology stocks most popular for UAE investors in H1 2017
UAE stock investors aligned with global investment trends during the first of half of 2017, according to Saxo Bank, the online multi-asset trading and investment specialist, which has published results announcing the most traded stocks on SaxoTraderGO – the trading platform that provides instant access to global financial markets – between January and June of this year.
Saxo Bank’s most traded stocks list reveals UAE investors largely favored US technology stocks, with Apple Inc. ranking top among the country’s investors, despite the company not having its best quarter with shares largely flat in comparison to significant competitor growth with Samsung’ share value swelling 15 percent in H1.
“While investors predict continued slow growth for Apple Inc. – the expected outlook for 2017 is a modest rise of five percent – the company’s appeal remains attractive in the UAE and globally because it gives access to the world’s most profitable smartphone maker and remains a wildly profitable company with a large and loyal customer base,” said Mario Camara, Head of MENA region for Saxo Bank.
Uncertain financial environment
In an uncertain global financial environment, tech stocks have risen in popularity as their growth potential tends to remain positive. In the UAE, four of the top five most traded stocks in the first half of 2017 are in the tech sector: Apple Inc., Alphabet Inc. – C Share, Amazon.com Inc., Gemalto NV and Panera Bread Co., the only non-tech stock to make the top five.
“With the technology sector up 18 percent year-to-date, it remains a stable pocket of growth in the current macroeconomic environment. The tech sector continues to retain investor optimism in the wider GCC region as Apple Inc., NVidia Corp., and Alibaba Group Holding Ltd came out on top as the most traded stocks so far this year.” Camara added.
The most traded stocks globally on the SaxoTraderGO platform in the first half of 2017 were Alibaba Group Holding Ltd, Apple Inc., Amazon.com Inc., NVidia Corp. and Facebook Inc.