Sandisk vs Nvidia: Which Tech Stock Institutions Are Buying and Which They Are Avoiding
TLDR
- Nvidia is the most under-owned large-cap tech stock among active institutional investors, with a gap of -2.53% versus its S&P 500 weighting
- The under-ownership spread for mega-cap tech widened to -129 basis points in Q2, up from -125 basis points in Q1
- Sandisk is the most over-owned large-cap tech stock, with a gap of +2.30% above its S&P 500 weighting
- Bank of America sees Nvidia’s August 26 earnings as a key moment, with a fair value target of $267.97 and analyst target of $300+
- Nvidia revenue grew from $60.9 billion in fiscal 2024 to $215.9 billion in fiscal 2026, a 70.7% year-over-year increase
Active institutional investors are holding less Nvidia than its weight in the S&P 500 would suggest, according to Morgan Stanley’s latest large-cap ownership tracker. The gap between institutional ownership and S&P 500 weighting for mega-cap tech names widened to -129 basis points at the end of the second quarter, from -125 basis points at the end of the first quarter.
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