Retail investors in the UAE showed a strong appetite for cybersecurity and artificial intelligence stocks during the third quarter of 2025, with Okta and Salesforce leading portfolio growth, according to the latest quarterly data from trading and investing platform eToro.
The data, which tracks the proportional change in the number of holders of various stocks among UAE-based eToro users, showed a 244% quarter-on-quarter increase in Okta shares, positioning the identity management company as the top riser. Salesforce followed with a 217% increase, driven by investor confidence in its AI-enhanced customer relationship management tools.
Technology infrastructure firms also gained significant traction. Oracle recorded a 54% rise in holders, while Broadcom saw a 16% increase, reflecting sustained interest in cloud computing and semiconductor stocks that support AI development.
George Naddaf, Managing Director MENA at eToro (Image Supplied)
George Naddaf, Managing Director at eToro (MENA), noted that UAE investors are increasingly focusing on companies that provide foundational technology. “Investors are betting on the ‘picks and shovels’ of digital transformation—the secure platforms and infrastructure powering growth—rather than just consumer-facing applications,” he said.
Healthcare stocks also attracted attention, with Novo Nordisk and UnitedHealth Group seeing increases in holders of 52% and 39%, respectively. Despite recent price volatility, retail investors viewed dips as buying opportunities, particularly for firms with strong market positions in sectors such as weight-loss pharmaceuticals.
Local interest extended to the Dubai-based toll operator Salik, which saw a 22% rise in holders, reflecting investor confidence in infrastructure-linked revenue models.
The quarter also saw notable declines in certain stocks. Cryptocurrency-related equities such as Bit Digital and Marathon Digital saw holder counts fall by 73% and 23%, respectively, as investors took profits following a previous rally. Hims & Hers Health, a Q2 favourite, saw a 51% drop in holders following a legal dispute with Novo Nordisk over marketing for a weight-loss drug.
Among the most widely held stocks, NVIDIA and Tesla retained their top positions, while Amazon climbed one spot to third place, displacing Apple.
The data underscores a strategic shift among UAE retail investors toward companies aligned with global digital transformation trends and local economic priorities, including cybersecurity, AI, and sustainable infrastructure.
UAE Retail Investors Back Cybersecurity And AI Stocks In Q3, eToro Data Shows
Anand Rai
Retail investors in the UAE showed a strong appetite for cybersecurity and artificial intelligence stocks during the third quarter of 2025, with Okta and Salesforce leading portfolio growth, according to the latest quarterly data from trading and investing platform eToro.
The data, which tracks the proportional change in the number of holders of various stocks among UAE-based eToro users, showed a 244% quarter-on-quarter increase in Okta shares, positioning the identity management company as the top riser. Salesforce followed with a 217% increase, driven by investor confidence in its AI-enhanced customer relationship management tools.
Technology infrastructure firms also gained significant traction. Oracle recorded a 54% rise in holders, while Broadcom saw a 16% increase, reflecting sustained interest in cloud computing and semiconductor stocks that support AI development.
George Naddaf, Managing Director at eToro (MENA), noted that UAE investors are increasingly focusing on companies that provide foundational technology. “Investors are betting on the ‘picks and shovels’ of digital transformation—the secure platforms and infrastructure powering growth—rather than just consumer-facing applications,” he said.
Healthcare stocks also attracted attention, with Novo Nordisk and UnitedHealth Group seeing increases in holders of 52% and 39%, respectively. Despite recent price volatility, retail investors viewed dips as buying opportunities, particularly for firms with strong market positions in sectors such as weight-loss pharmaceuticals.
Local interest extended to the Dubai-based toll operator Salik, which saw a 22% rise in holders, reflecting investor confidence in infrastructure-linked revenue models.
The quarter also saw notable declines in certain stocks. Cryptocurrency-related equities such as Bit Digital and Marathon Digital saw holder counts fall by 73% and 23%, respectively, as investors took profits following a previous rally. Hims & Hers Health, a Q2 favourite, saw a 51% drop in holders following a legal dispute with Novo Nordisk over marketing for a weight-loss drug.
Among the most widely held stocks, NVIDIA and Tesla retained their top positions, while Amazon climbed one spot to third place, displacing Apple.
The data underscores a strategic shift among UAE retail investors toward companies aligned with global digital transformation trends and local economic priorities, including cybersecurity, AI, and sustainable infrastructure.
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