Retail investors in the UAE have capitalised on market corrections in the artificial intelligence (AI) sector and increased their exposure to blockchain-related stocks, according to data from trading and investing platform eToro.
eToro’s analysis of stockholding changes among UAE investors in Q3 2024 revealed a surge in buying activity within the AI sector following significant price dips. The report highlights that CrowdStrike Holdings saw the largest proportional increase in holders (+131%) as investors reacted to a price drop following a software update that caused widespread computer outages. Other major AI-related stocks, such as NVIDIA (+41%), Intel (+37%), Snowflake (+23%), Micron Technology (+25%), Advanced Micro Devices (+23%), and Taiwan Semiconductor Manufacturing (+21%), also experienced strong growth in retail investor interest during the quarter.
“UAE investors are increasingly forward-looking, focusing on industries that are expected to define the future of technology,” noted Jason Hughes, Senior Executive Officer at eToro. “The recent dip in AI stock prices presented a prime buying opportunity, especially in companies like CrowdStrike and Intel, where investors recognised their long-term potential despite short-term challenges.”
In addition to AI, the blockchain sector saw significant interest, with Marathon Digital Holdings, a key player in cryptocurrency mining, experiencing an 82% increase in holders, making it the second-highest gainer in Q3. This trend reflects a growing focus among UAE investors on decentralised finance and blockchain technology’s broader applications.
Big Tech stocks, known for their market stability, continued to dominate UAE investors’ portfolios. Companies such as NVIDIA, Tesla, Amazon, Apple, Microsoft, and Alphabet remained among the most-held stocks at the end of Q3 2024. The ranking saw NVIDIA take the top spot, moving up from second place in Q2, while Tesla dropped to second position.
“Known for their innovation and market leadership, these tech giants generally provide stability and long-term growth potential, making them reliable choices even as interest in emerging sectors like AI and blockchain grows. Investors consistently turn to Big Tech as the foundation of their portfolios, reflecting confidence in these firms’ ability to deliver strong returns over time,” Hughes added.
The top 10 most widely held stocks by UAE investors on the eToro platform at the end of Q3 were:
- NVIDIA
- Tesla
- Amazon
- Apple
- Nio
- Microsoft
- Alphabet
- Meta
- Alibaba
- Advanced Micro Devices
These findings show that while emerging technologies such as AI and blockchain are gaining traction, Big Tech remains a cornerstone of retail investor portfolios, providing a balance between innovation and market stability.
