HomeTrading TipsBest Stocks to Buy: Apple, Exxon Mobil, UnitedHealth, Eli Lilly Stands Out;...

Best Stocks to Buy: Apple, Exxon Mobil, UnitedHealth, Eli Lilly Stands Out; Attract Over $1 Billion in Investment From Top Funds

Published on


The greatest mutual funds are still interested in Apple (NASDAQ:AAPL), despite investors’ fading excitement in the most recent iPhone launches. In IBD’s most recent list of purchases by major money managers, Apple shares join Exxon Mobil (NYSE:XOM), UnitedHealth (UNH), and Eli Lilly (NYSE:LLY) as five stocks earning over $1 billion. The fact that Nasdaq (NDAQ) made more than $1.9 billion this month is a sign that tech companies like Apple are regaining popularity after a protracted exile in this year’s bad market. The top mutual funds made the bulk of their large purchases in energy and medical stocks.

In the most recent report, EOG Resources (NYSE:EOG), ConocoPhillips (NYSE:COP), and NextEra Energy (NYSE:NEE) all earned more than $500 million each, in addition to ExxonMobil. Alongside UnitedHealth and Eli Lilly, Merck (NYSE:MRK) ($971 million), Vertex Pharmaceuticals ($968 million), and Elevance Health ($818 million) also demonstrated high demand in the medical sector.

The top mutual funds also purchased shares of discount retailer Dollar General for almost $630 million as inflation put a strain on household finances (DG).

Support Vs. Resistance In The Best Mutual Funds’ New Purchases

It’s difficult to navigate choppy, unstable markets. Keep an eye on the price action around important moving averages like the 50-day and 10-week lines to keep daily and weekly price swings in perspective.

Nasdaq, which provides financial data to the capital markets, experienced erratic selling pressure when tech stocks fell this year. Its 10-week moving average started out on a downward trend before beginning to turn around in July. The 40-week moving average is presently being reclaimed by the 10-week line.

Nasdaq is still constructing a 43-week-long cup with a handle even if its relative strength line has already reached a new high. The purchase price is 64.88.

More Stocks To Watch: Testing Buy Zone

To see the whole list of stocks on this list of recent purchases by the top mutual funds, visit the Excel file on this page. Numerous equities, including Dollar General, Eli Lilly, NextEra Energy, and Albemarle (ALB), are developing chart patterns or experimenting with new purchase zones.

Featured Image-  Megapixl @Alexeynovikov

Please See Disclaimer

Latest News

Microsoft Stock; Is It Cheap?

Microsoft Stock (NASDAQ:MSFT) Microsoft stock (NASDAQ:MSFT) is one of my favorite investments, and like many...

AT&T Inc Stock Is Getting Closer To A Critical Support Level As Dividend Yields Rise 7%

AT&T Inc (NYSE: T) has been decimated this year, and its stock price has...

Nike Inc Stock and Micron in Downtrends Before Report of Results

Nike Inc (NYSE:NKE) and Micron Technology (MU) earnings reports are scheduled as businesses prepare...

Boeing Co Stock Falls After a $200 Million SEC Fine for 737 Max Disclosures

Shares of Boeing Co (NYSE: BAC) lowered after agreeing to pay just over $200...

More like this

Bitcoin Price Will Soon Reach $68,990 According to Michael Saylor

According to prominent advocate of cryptocurrencies Michael Saylor, Bitcoin BTCUSD +0.85% might recapture its...

Tesla Inc Shares Value 5 Years Ago is Now Worth Ten Times

Tesla Inc, an electric car company with its headquarters in Texas, is frequently in...

Salesforce Stock Might Increase by Double, According to a Goldman Analyst

Rangan issues one of the more optimistic calls on Salesforce stock (NYSE:CRM) on Wall...

Robinhood Stock and Virtu Stock Rose Following the Report the SEC Will Permit Remuneration for Order Flow

Robinhood stock traded at $9.73 while Virt stock traded at $23.15 as of 02:02...

Apple Stock Slight Decline on Increased Criticism From U.S. Senators on a Potential Deal Involving Chinese Memory Chips

Apple stock is at $152.18 as of 02:35 PM EDT on Thursday. U.S. Senators have...

Novavax Stock Drops As JPMorgan Cuts Its Long-Term Prognosis

Novavax stock price today is at $22.10 as of 01:42 PM EDT on Thursday. In...