Indian investors continue to favour US technology stocks, but their appetite for the AI trade is increasingly spreading beyond the biggest names. Data from international brokerage platforms Appreciate and Vested Finance points to a notable shift within semiconductors, with memory and storage stocks such as SanDisk, Micron and Western Digital attracting growing interest.
Financial Express reported that Nvidia remains the most-bought US stock among Indian investors. On Appreciate, it accounts for about a fifth of all buy orders across the platform's 10 most-bought stocks this year, around 1.6 times the stock in second place. Alphabet, Apple and Tesla follow.
But the bigger trend lies beneath the headline AI names. Five of Appreciate's 10 most-ordered stocks are semiconductor and memory companies, together accounting for 51% of all orders in that group.
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Vested Finance's top 10 stocks over the past six months show a similar preference for technology, with Nvidia, Micron, Meta, Microsoft, Amazon, AMD, SanDisk, Broadcom, Google and Tesla making the list.
The data suggests investors are increasingly rotating within the semiconductor theme, from compute-focused AI stocks towards memory and storage.
According to Financial Express, Appreciate said three of its seven largest stock positions this year are SanDisk, Micron and Western Digital. Together, the three account for about 37% of the money invested in that group, roughly 1.7 times the amount invested in Nvidia.
The shift is not limited to semiconductors. Space and defence are also emerging as themes among Indian investors, with SpaceX and Rocket Lab featuring in the data. SpaceX, listed only since June 12, has quickly attracted significant trading activity on both platforms.
On Appreciate, it ranks 11th overall by orders but has recorded the highest orders per trading day since listing. It has been the platform's most-traded US stock since its listing, with about a third more trades than Nvidia.
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Vested Finance said SpaceX accounted for 3.8% of all stock and ETF trading on its platform since listing. Its buy-to-sell ratio stood at 2.41:1.
However, the average order size suggests investors are treating it as a smaller position. Appreciate recommends gradually building towards 35-40% in US and global assets for a serious long-term investor, while Vested Finance suggests 10-15% for beginners and 20-30% for more experienced investors. Both platforms, however, stress that global allocation should reflect an investor's objectives and currency exposure.
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