By
Tolu Ajiboye
April 23rd, 2024
Millennials prefer to invest their funds into the stocks of the most advanced companies that are being widely discussed today. They are Apple, Amazon and Tesla.
As per reports on January 28, 2020, CEO of Apex Clearing, Bill Capuzzi, stated that it is interesting to witness how the investing habits of millennials have shifted over the past year, claiming that millennials have proven to be unique and differed from their generational counterparts.
Apex Clearing has disclosed the fourth-quarter Millenial 100 report that analyzed over 734,000 portfolios possessed by U.S.-based investors with an average age in the region of just 31 years. The result was motivating and it quickly captured the attention of Apex CEO, Bill Capuzzi, who has wasted no time in reacting to it.
In a release that came along with the revelation of the results, Capuzzi said:
“It’s been encouraging to witness how Millenials’ investing habit has changed over the past year.”
“From reacting to key market moves, showing a genuine interest in recent IPOs, and investing in line with their values, millennials have demonstrated to be a unique audience that differs from their generational counterparts,” added he.
From the report, the list is FAANG-heavy. Social media heavyweight, Facebook recorded FB +1.54%, Media giant Netflix NFLX, -0.003%, iOS developer Apple, AAPL +1.78% as well as online retail outlet Amazon AMZN, +0.50% are included into the top-10 option for young investors. However, Google‘s parent Alphabet is the12th.
And the first position is occupied by Apple, while Amazon and Tesla follow it. It’s also worth mentioning that millennials also believe in Disney, Microsoft and Berkshire Hathaway.
Apex also confirmed that 30 firms in the group 100 had their debuts in the market within the last 10 years; which proves that millennials favor hot, young, tech-focused investments.
Chief Revenue Officer of the company, Hannah Shaw Grove also praised the habit of millennials with regards to investments for the future, while pointing out that their interests lie in technology trends and innovation. She noted:
“One thing is for sure – millennials are investing in the future. Their fingers are always on the pulse of technology trends, innovation, and the companies that are in a position to influence our way of life and how we conduct business, and this quarter was no exception.”
Other Options for Millennials
Meanwhile, that has come after American venture capital investor and founder of Draper Fisher Jurvetson, Tim Draper sounded encouragement to Millenials, urging them to invest in Bitcoin, which he claimed would return many key benefits and would be their wisest decision at retirement age.
In the news, reported by Coinspeaker on January 24, 2020, Tim Draper mentioned that Bitcoin is the future of money and those who will benefit most from it will be millennials who invest in it at the pinnacle of their careers.
Just a few days after Tim Draper made the public claim, it appears he is already being proven right. Bitcoin price soared as high as $9,400 on in the late hours of Tuesday, making a new 2020 high and experts expect it to continue riding on the momentum as the year progresses.
The price surge came up after many geopolitical events across the globe including the rising conflict between the Iranian government and the United States as well as the outbreak of the deadly coronavirus in China and some other Asian countries.