Mutual Funds Increase Investments in Amazon (AMZN) and Broadcom (AVGO): A Deep Dive into the Latest Finance Trend
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- Today’s stock market highlight focuses on stocks that mutual funds are buying, including Amazon.com (AMZN), Broadcom (AVGO) and Eli Lilly (LLY).
- Amazon and Eli Lilly have recently passed their earnings hurdles, while Broadcom is expected to report around mid-May.
- Amazon’s stock is climbing back to a recent high, with mutual funds owning 40% of the 10.4 billion shares outstanding in Amazon stock.
Discover why mutual funds are investing heavily in Amazon, Broadcom, and Eli Lilly stocks and what this could mean for your investment portfolio.
Amazon Stock: A Mutual Fund Favorite
Amazon stock is extended from a cuplike base with a 145.86 buy point. Shares reached a 52-week high of 187.77 on April 11. The stock has gained around 23% this year. Amazon beat first-quarter earnings and sales estimates in late April, with a robust 216% profit growth. Analysts expect second-quarter earnings of $1.1... Read the full article for FREE at COINOTAG!
