As Apple dives into augmented and virtual reality with its Vision Pro headset, the best mutual funds pour real money — $2.6 billion — into AAPL stock. In the latest list of new buys by top funds, these savvy investors also lasered in on fellow tech titan Microsoft, scooping up $2.4 billion worth of MSFT stock.
Wall Street was perhaps disoriented by Apple's unveiling of the price tag for Vision Pro, which starts at $3,499. Analysts had expected a cost of around $3,000 for the device set to go on sale early next year. Apple stock has shaken off the initial dip following the announcement.
Both Apple and Microsoft rose early Friday.
Broadcom, Adobe, ServiceNow, Oracle and Applied Materials are among 10 companies taking in an estimated $109 million to $341 million in this month's report.
Within that elite group, leading investors also found shelf space for retail giant Walmart, investing roughly $207 million in WMT stock. Walmart ended the week in buy range.
Microsoft spearheads the dominant presence of software sector stocks across a broad range of industry groups on the list of new buys by the best mutual funds, with 38 companies making the grade. Broadcom joins 11 other semiconductor sector stocks that have etched their names on the latest report.
Click here to see the full list of new buys by top funds.
Apple, Microsoft Top Big Bets By The Best Mutual Funds
Further confirming their strength and institutional demand, five of the 12 companies below have also secured a spot on premier IBD stock lists.
ServiceNow and AMAT stock both earn a spot on the IBD Big Cap 20. ServiceNow also joins CRM stock on the IBD 50, while Microsoft continues its longtime presence among IBD Long-Term Leaders.
Adobe stock gapped up into buy zone Friday. On Thursday, the company announced new enterprise applications for its Firefly software for generative artificial intelligence. Adobe stock gapped up into buy zone Friday.
| Company | Symbol | $ Amt Invested (mil) | Comp Rating | EPS Rating | RS Rating | Ind Group RS | SMR Rating |
|---|---|---|---|---|---|---|---|
| Apple | AAPL | 2,600 | 90 | 80 | 89 | B | A |
| Microsoft | MSFT | 2,392 | 97 | 90 | 92 | A | A |
| Broadcom | AVGO | 341 | 97 | 95 | 95 | A+ | A |
| Adobe | ADBE | 246 | 98 | 95 | 87 | A | A |
| ServiceNow | NOW | 238 | 99 | 99 | 89 | A | A |
| Equinix | EQIX | 230 | 90 | 88 | 80 | C | C |
| Salesforce | CRM | 207 | 98 | 98 | 92 | A | B |
| Walmart | WMT | 207 | 84 | 88 | 81 | C | B |
| Accenture | ACN | 181 | 87 | 82 | 82 | C+ | B |
| Oracle | ORCL | 155 | 98 | 84 | 94 | A+ | A |
| Applied Materials | AMAT | 111 | 98 | 88 | 91 | A+ | A |
| S&P Global | SPGI | 109 | 90 | 88 | 78 | C+ | A |
*Ratings as of June 8 market close
Microsoft Leads Software Sector Domination
Software companies commanded an unmistakable presence on the latest list of new buys by the best mutual funds. But it's also important to zero in on specific industry groups within the broader sector.
From Windows and Azure Cloud to Xbox, Microsoft AI and beyond, Microsoft operates across a wide range of business segments. It's classified in the Desktop industry group, alongside Adobe.
NOW, CRM Lead In-Demand Enterprise Software Group
ServiceNow, Salesforce, Workday, Datadog, Dynatrace and Palantir lead the Computer Software-Enterprise group. With a crop of 14 stocks, enterprise software tops all the software groups in terms of the number of companies on the list of new buys by top funds.
Hailing leading IPOs from the Class of 2021, Monday.com has also worked its way on the screen of new buys by the best mutual funds. Earlier this month, the productivity software play was profiled in The New America column.
MNDY stock closed the week in buy range.
| Company | Symbol | $ Amt Invested (mil) | Comp Rating | EPS Rating | RS Rating | SMR Rating |
|---|---|---|---|---|---|---|
| ServiceNow | NOW | 238.29 | 99 | 99 | 89 | A |
| Salesforce | CRM | 207.28 | 98 | 98 | 92 | B |
| Workday | WDAY | 27.57 | 99 | 98 | 89 | A |
| Palantir Technologies | PLTR | 16.31 | 99 | 81 | 98 | C |
| Cloudflare | NET | 11.6 | 99 | 81 | 85 | B |
| Datadog | DDOG | 11.29 | 98 | 99 | 87 | A |
| Dynatrace | DT | 5.51 | 99 | 99 | 92 | A |
| Nutanix | NTNX | 4.93 | 88 | 81 | 92 | - |
| JFrog | FROG | 4.55 | 99 | 81 | 90 | C |
| Manhattan Associates | MANH | 1.53 | 99 | 95 | 95 | A |
| Blackbaud | BLKB | 0.64 | 95 | 79 | 93 | B |
| Monday.com | MNDY | 0.61 | 97 | 81 | 95 | C |
| UiPath | PATH | 0.37 | 98 | 81 | 88 | C |
| Qualtrics International | XM | 0.13 | 99 | 81 | 94 | C |
*Ratings as of June 8 market close
Bets By The Best Mutual Funds In The Chip Sector
Led by AVGO, AMAT and ASML, 12 stocks have earned a spot on this month's list of new buys by top funds. Like with the software sector, semiconductor stocks can hail from a range of chip-rated industry groups.
AMAT, ASML, Lam Research, KLA and Axcelis Technologies all are in the semiconductor equipment group. The group ranks a strong No. 15 out of the 197 industries IBD tracks.
Broadcom, Rambus and Lattice Semiconductor are among those in the fabless chip group, which ranks No. 12.
| Company | Symbol | $ Amt Invested (mil) | Comp Rating | EPS Rating | RS Rating | SMR Rating |
|---|---|---|---|---|---|---|
| Broadcom | AVGO | 807 | 97 | 95 | 95 | A |
| ASML | ASML | 723 | 99 | 95 | 91 | A |
| Lam Research | LRCX | 617 | 95 | 88 | 93 | A |
| Monolithic Power Systems | MPWR | 490 | 98 | 98 | 82 | A |
| KLA | KLAC | 443 | 97 | 95 | 92 | A |
| Axcelis Technologies | ACLS | 158 | 99 | 96 | 99 | A |
| Applied Materials | AMAT | 133 | 98 | 88 | 91 | A |
| Nova | NVMI | 108 | 95 | 88 | 91 | A |
| Onto Innovation | ONTO | 107 | 95 | 85 | 96 | B |
| ON Semiconductor | ON | 84 | 89 | 85 | 91 | A |
| Lattice Semiconductor | LSCC | 81 | 97 | 99 | 91 | A |
| Rambus | RMBS | 64 | 99 | 97 | 98 | A |
*Ratings as of June 8 market close
Follow Matthew Galgani on Twitter at @IBD_MGalgani.
