Tech Titans ProPicks Delivers 1.84% Return in March 2024
Investing.com | Editor Emilio Ghigini
Published Apr 03, 2024 16:06
The Tech Titans ProPicks strategy posted a solid 1.84% return in March 2024, outperforming the Dow Jones Industrial Average's 1.23% gain but trailing the S&P 500's 2.08% rise. The strategy's performance was bolstered by strong showings from several key holdings, including MicroStrategy Incorporated (MSTR), which delivered an impressive 51.64% monthly return.
Despite the challenges faced by some holdings, such as Marathon Digital Holdings, Inc. (NASDAQ:MARA), the Tech Titans strategy remained resilient, thanks to its diversified portfolio and active management approach. The strategy introduced three new holdings in March, each with promising growth potential in their respective markets.
One of the new additions, Allegro MicroSystems, Inc. (ALGM), is well-positioned to benefit from the growing demand for energy-efficient solutions in the automotive and industrial sectors. With a market cap of $5.19B, an EPS of $1.15, and an impressive EPS growth of 45.84%, Allegro MicroSystems presents an attractive investment opportunity for those seeking exposure to the semiconductor industry.
The Tech Titans strategy also made several adjustments to its existing portfolio, removing stocks such as RingCentral, Inc. (NYSE:RNG) while continuing to hold key positions in companies like NVIDIA Corporation (NASDAQ:NVDA). These strategic moves demonstrate the team's commitment to adapting to changing market conditions and maintaining a well-balanced portfolio.
In the fast-paced world of technology investing, staying informed and ahead of the curve is crucial. By subscribing to Investing.com's InvestingPro, you can gain exclusive access to the Tech Titans ProPicks strategy and other valuable insights that can help you navigate the complex landscape of tech investing.
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This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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