Dubai – 22nd October 2024: UAE retail investors have seized the opportunity to buy into the artificial intelligence sector during price dips, while simultaneously increasing exposure to blockchain stocks, according to trading and investing platform eToro.
eToro looked at which companies saw the biggest proportionate change in holders in the UAE, quarter-on-quarter (table 1), while also looking at the 10 most held stocks on the platform (table 2).
One of the standout trends in Q3 was the rise in investors buying into AI-related stocks after market corrections. CrowdStrike Holdings saw the largest increase in holders (+131%), as investors took advantage of a significant price drop after the company’s software update caused a mass computer outage. Other leaders in the AI ecosystem, such as NVIDIA (+41%), Intel (+37%), Snowflake (+23%), Micron Technology (25%), Advanced Micro Devices (+23%) and Taiwan Semiconductor Manufacturing (+21%) also saw significant increases in holders as investors continued to back companies driving the AI revolution.
In addition to AI, blockchain technology stocks have also benefited from growing interest among UAE retail investors. Marathon Digital Holdings (+82%) a major cryptocurrency mining company, was the second stock with the highest uptick in exposure during Q3.
“UAE investors are increasingly forward-looking, focusing on industries that are expected to define the future of technology. The recent dip in AI stock prices presented a prime buying opportunity, especially in companies like CrowdStrike and Intel, where investors recognized their long-term potential despite short-term challenges,” said Jason Hughes, Senior Executive Officer at eToro. “The rise in interest around blockchain stocks also highlights growing awareness of its transformative capabilities, particularly in decentralised finance and other innovative sectors. Both AI and blockchain could offer robust long-term growth prospects, and it is evident that UAE retail investors are both strategically attuned to global trends and proactive in shaping portfolios that anticipate future growth.”
Table 1: Shows which stocks have seen the biggest proportional increase and decrease in holders on the eToro platform quarter on quarter
| Biggest risers among eToro users in the UAE | ||
| Rank | Company | Increase in holders QoQ |
| 1 | CrowdStrike Holdings | 131% |
| 2 | Marathon Digital Holdings | 82% |
| 3 | NVIDIA | 41% |
| 4 | Intel | 36% |
| 5 | Alphabet Inc Class A | 27% |
| 6 | Snowflake Inc | 26% |
| 7 | Micron Technology | 25% |
| 8 | Advanced Micro Devices Inc | 23% |
| 9 | NIKE | 22% |
| 10 | Taiwan Semiconductor Manufacturing Co Ltd | 21% |
Big Tech as portfolios anchor
Big Tech continues to anchor UAE investors’ portfolios quarter after quarter, with companies like NVIDIA, Tesla, Amazon, Apple, Microsoft, and Alphabet remaining the most-held assets at the end of Q3.
Jason Hughes concludes: “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.”
Table 2: Shows stocks most widely held by eToro users in the UAE and their position last quarter
| Company | Ranking at end of Q3 2024 | Ranking at end of Q2 2024 |
| NVIDIA | 1 | 2 |
| Tesla | 2 | 1 |
| Amazon | 3 | 3 |
| Apple | 4 | 4 |
| Nio | 5 | 5 |
| Microsoft | 6 | 6 |
| Alphabet | 7 | 8 |
| Meta | 8 | 7 |
| Alibaba | 9 | 9 |
| Advanced Micro Devices Inc | 10 | 10 |
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