Tesla, Apple, Microsoft Stakes Slashed By New York State Retirement Fund In Q1: Here's What It Bought
Portfolio Pulse from Bhavik Nair
The New York State Common Retirement Fund reduced its holdings in mega-cap technology stocks, including Apple, Tesla, and Microsoft, in Q1 2023. The fund shifted its focus towards chip-based stocks, buying shares of Taiwan Semiconductor and Texas Instruments.
May 19, 2023 | 7:31 am
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POSITIVE IMPACT
The retirement fund bought over 264,000 shares of Taiwan Semiconductor in Q1 2023, with the stock gaining over 25% since the beginning of the year.
The fund's purchase of Taiwan Semiconductor shares may have a positive short-term impact on the stock price, as it indicates increased interest in the chip-based sector. The stock has already gained over 25% this year, and this investment could further boost its performance.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
New York State Common Retirement Fund bought 24,000 shares of Texas Instruments in Q1 2023, with the stock gaining just over 4% this year.
The fund's purchase of Texas Instruments shares may have a positive short-term impact on the stock price, as it indicates increased interest in the chip-based sector. However, the stock has gained just over 4% this year, so the impact may be limited.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 80
NEUTRAL IMPACT
New York State Common Retirement Fund sold over 1.2 million shares of Apple in Q1 2023, but the stock has risen close to 40% this year.
The fund's sale of Apple shares may not have a significant short-term impact on the stock price, as it has already risen close to 40% this year. The overall market sentiment and performance of the company are likely to have a greater influence on the stock price.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 80
NEUTRAL IMPACT
New York State Common Retirement Fund sold over 544,000 shares of Microsoft in Q1 2023, reducing its stake in the technology giant.
The fund's sale of Microsoft shares may not have a significant short-term impact on the stock price, as the overall market sentiment and performance of the company are likely to have a greater influence on the stock price.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 80
NEUTRAL IMPACT
The retirement fund sold over 672,000 shares of Tesla in Q1 2023, reducing its stake in the electric vehicle manufacturer.
The sale of Tesla shares by the fund may not have a significant short-term impact on the stock price, as the overall market sentiment and performance of the company are likely to have a greater influence on the stock price.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 80