20 most-bought tech stocks: week ended 6 November 2026

Traders on the floor of the New York Stock Exchange. Photo: TIMOTHY A. CLARY/AFP via Getty Images.

This week’s US midterm elections have added to a cocktail of headwinds for America’s technology sector. While broader US equity markets initially rallied following the results, neocloud stocks (cloud computing companies specialising in artificial intelligence) moved in the other direction, with popular shares like CoreWeave Inc Ordinary Shares - Class A (NASDAQ:CRWV), Nebius Group NV Shs Class-A- (NASDAQ:NBIS) and IREN all closing Wednesday’s session lower. 

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Some investors worry that the Democratic sweep could lead to greater scrutiny around AI infrastructure expansion and AI energy consumption. And on Thursday, a broader market sell-off took hold, with semiconductor and neocloud stocks falling further as investors grew concerned about the potential impact of the political “Blue Wave” on the AI investment theme.

The Philadelphia semiconductor index had its worst day since the pandemic slump in March 2020, losing 12% in Thursday’s session. The Nasdaq Composite sank 5.5% to prices not seen since April, while the VIX index jumped more than 11 points to 28.2, its highest since March, indicting heightened market fear and uncertainty. VIX rarely trades at these levels.

Apple

Apple Inc (NASDAQ:AAPL) reported fiscal fourth-quarter earnings per share of $42.10 and revenue up 12% to $114.48 billion (£85.5 billion) on Monday, both ahead of expectations. iPhone revenue hit $57.58 billion, beating forecasts, although the success of most recently launched smartphones will only become clear in subsequent quarters. Just eight days of sales of the iPhone 18 Pro were included in the fourth-quarter reporting period, while the iPhone Duo launched after the quarter’s end.

Despite a beat on the top and bottom line, Apple shares closed 1.9% lower on Tuesday as investors focused on its weaker margin outlook and concerns about rising memory costs. In his first set of results as CEO, John Ternus said current memory pricing is “unprecedented”, adding he expects “even higher memory costs” in the all-important December quarter around Christmas. 

Apple has raised prices on iPhones, Macs, and iPads this year to try and offset some of those higher costs. Another disappointment was Greater China where revenue came in at $17.54 billion, below consensus estimates for $18.75 billion.

Bloomberg reported this week that the iPhone maker has reduced internal employee budgets for AI usage as it looks to rein in costs. This move reflects a broader focus on efficiency at Apple and across the tech sector as companies invest heavily in AI.

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Apple has long been criticised for lagging rivals in the AI race and is still working to improve its AI-powered Siri assistant. However, its cash generation tells a much more positive story. It generated a record $136 billion in free cash flow in the year to September, while the four biggest hyperscalers collectively spent more than $600 billion on AI chips and data centres over the same time period. Apple’s shares have risen nearly 30% year-to-date, outperforming Microsoft Corp (NASDAQ:MSFT), Alphabet Inc Class A (NASDAQ:GOOGL), Amazon.com Inc (NASDAQ:AMZN) and Meta Platforms Inc Class A (NASDAQ:META).

Apple is among the most-bought tech stocks on the ii platform so far this week. According to Refinitiv, there is a consensus buy recommendation among analysts. However, the average target price is $333.79, roughly 5% below the current share price.

Palantir

Palantir Technologies Inc Ordinary Shares - Class A (NASDAQ:PLTR) delivered an impressive set of third-quarter earnings. Total revenue almost doubled to $2.31 billion, marking the first time quarterly sales have exceeded $2 billion. The milestone was driven by strong growth in commercial revenue, which overtook government revenue during the quarter. The company also upgraded its full-year sales outlook.

Despite the upbeat results, shares fell by around 6% across Tuesday and Wednesday, hitting their lowest levels in over a month. The decline appears to reflect profit-taking after a strong run-up in the share price ahead of earnings with investors possibly hoping for an even bigger beat for such a highly valued AI stock.

Technology investor Cathie Wood decided to seize on the market weakness with ARK Invest purchasing roughly $11.2 million of Palantir shares after the stock fell on 3 November.

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There was also a notable divergence between the share price reaction and the response from analysts. Citigroup, Morgan Stanley, and Deutsche Bank were much more upbeat, raising their price targets.

According to Refinitiv, analysts rate the stock a buy on average, with a median price target at $230, representing 35% upside from the current share price.

Palantir is a new addition to the list of most-bought tech stocks on the ii platform. 

20 most-bought tech stocks on the ii platform

Source: interactive investor, 2-4 November 2026. Previous top 20 was week ending 23 October.

Week ahead

CoreWeave

CoreWeave will release its third-quarter earnings on Tuesday 10 November. 

It comes at an uncertain time for investors after a brutal sell-off for the stock in October and early November. It plummeted nearly 40% last month and is around 65% below its 52-week high of $138.25 reached in May. 

The neocloud company, which rents out NVIDIA Corp (NASDAQ:NVDA) graphics chips to AI developers, has been at the heart of the AI boom. However, investors have grown increasingly concerned about its heavy debt burden, rising borrowing costs and the potential impact of any slowdown in AI-related spending.

The sell-off gathered pace after research firm Gartner predicted that 90% of neocloud providers will shut down by 2030 because of overspending and insufficient AI-related revenue. 

Pressure extended into the credit markets too. CoreWeave’s unsecured debt yield surpassed 15% and its 5-year credit default swap (CDS), a tradeable instrument that insures against default, hit distressed levels and a record high. 

Elon Musk voiced concerns about the sector, warning that more than 200 neoclouds are “going to see guppy-level death and consolidation”. 

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Neocloud shares suffered another setback after Microsoft’s capital expenditure figure came in below expectations. Microsoft is one of CoreWeave’s largest customers. 

On a more positive note, before the recent turmoil CoreWeave delivered strong second-quarter results over the summer. Revenue surged 112% to $2.58 billion and its adjusted loss per share hit $1.03, better than the $1.20 expected. Investors overlooked a net loss that widened to $626 million up from $290 million year-on-year. 

Analyst opinion remains divided. Goldman Sachs upgraded CoreWeave to buy from neutral on 19 October, arguing investors were underestimating the company’s outlook. However, Morgan Stanley, Piper Sandler and Raymond James all cut their price targets on the stock last month. According to Refinitiv, shares still carry a consensus buy recommendation with an average price target of $132.59, representing upside of around 185% from current levels. 

CoreWeave, IREN and Nebius are among the most-bought tech stocks on the ii platform so far this week.