Apple back on Top, with a Surprise #2: May’s Top 10 Stocks (Part 15)
An aerospace defense company, traded in London, joins our top 10 this month, along with two semiconductor companies whose share prices went in opposite directions during May. QinetiQ is the defense contractor and saw a 333 percent month-over-month (MoM) increase in searches. Nvidia’s searches were up 69 percent MoM while AMD trailed with a still respectable 50 percent increase.
Top 10 Stocks Searched in May
Every month, we use online behavioral data from our 100-million consumer panel to rank interest in publicly traded shares on U.S. markets. We do this by analyzing the individual stocks consumers search on Yahoo Finance for month-over-month changes in search activity. We count individuals who search for a stock rather than individual stock searches, so that one person searching a thousand times (or more) does not skew our results. We also select the best and worst performers from among the top 50 most-searched ticker symbols.
Again this month, in addition to MoM search changes, we include the corresponding MoM change in share price for each of the companies. The MoM change in share price compares the average daily closing price of the current month with that of the previous month to show how much it has fluctuated up or down.
Apple remains a constant in our top 10 and this month again finds itself in the top position. Apple’s #1 comes with a 48 percent increase in searches and represents just over 18 percent of all top 10 searches. Apple’s shares rose 6.5 percent MoM during May.
As mentioned, second-ranked QinetiQ saw a more than 300 percent increase in searches, representing 14.6 percent of top 10 searches, and saw a share price increase of 7.4 percent during the month. The company reported a rise in earnings and raised their dividend by 5.3 percent to 7 pence-a-share.
Amazon, our #3, saw searches decrease 6 percent MoM but share price was up 6.5 percent. The company represented nearly 11 percent of all top 10 searches. Next is Facebook, with searches up 27 percent, share price up 5.1 percent, and claiming just over 10 percent of top 10 searches.
Skipping to 8th and 9th place we find Nvidia and AMD, both of whom reported quarterly earnings during May. Nvidia stock searches increased by almost 70 percent MoM as the company surprised many analysts by beating expectations. The company said it expects its data-center GPU business and AI prospects to grow.
Advanced Micro Devices (AMD) saw a comparable 50 percent growth in searches during May. Though AMD met expectations, the company reported a loss of 8 cents per share in Q1. Their stock price declined by 17%.
|Stock Ticker||Company||Share of Top 10||MOM Change in Searches||MOM Change in Price*|
|QinetiQ Group plc||14.6%||333%||7.4%|
|TSLA||Tesla Motors, Inc.||8.4%||-6%||3.9%|
|AMD||Advanced Micro Devices, Inc.||7.5%||50%||-16.9%|
May’s Best and Worst Performing Stocks
Familiar names appear on both our biggest winners and losers lists for May. QinetiQ, Nvidia, and AMD also appear on our overall top 10 list this month. Both Cisco and Snap showed big growth, but lacked the search volume necessary to rise into the 10 most-searched.
Our biggest loser is Wells Fargo, with searches down 30 percent MoM.
May’s Five Best
|5||Advanced Micro Devices (AMD)||+50%|
May’s Five Worst
Bottom Line: This month we notice that to be a big winner you really must see search volumes increase by 70 percent or more. The biggest losers, meanwhile, showed less dramatic losses of 22 to 30 percent.
Will QinetiQ ever reach our top 10 again? Good question! If you want a sure thing, bet on Apple to remain in the top 5 every month, perhaps forever.
We are still seeking any correlation between search volumes and share prices, though the numbers, if not indicative are interesting. Will next month be musical chairs among the top 10 or will more new players join the list? Perhaps another surprise #2? Please come back to find out!