- Memory chip manufacturer Micron topped the list of the best-performing stocks among Polish investors in Q1 2026
- Geopolitical tensions and a sharp rise in oil prices pushed Chevron and Exxon Mobil to the top of the growth rankings
- InPost recorded the largest decline in investor interest in Poland
According to the latest data from the trading and investment platform eToro, Polish investors showed a clear shift in preferences in the first quarter of 2026, with semiconductor, energy, and defense companies recording the strongest growth in the number of holders on a quarterly basis.
eToro analyzed which companies recorded the largest proportional change in the number of holders in Poland (Table 1), as well as the 10 most widely held stocks on the platform (Table 2).
Micron Technology, a memory chip manufacturer, ranked first among the “top gainers” in Poland, with a 32% increase in the number of holders by the end of the first quarter. A surge in demand for artificial intelligence and limited supply of high-bandwidth memory boosted investor sentiment not only in Poland but globally, where the number of holders rose by 36% quarter-on-quarter.
Second place went to oil and gas company Chevron, which saw a 29% increase in holders amid rising geopolitical uncertainty. As one of the few U.S. oil companies operating in Venezuela, Chevron was well positioned to access the country’s vast oil reserves following U.S. intervention in January. The outbreak of war with Iran in late February further intensified the rise in oil and gas prices, lifting other energy companies such as Exxon Mobil, which ranked fifth with a 19% increase.
The top three was rounded out by Take-Two Interactive, which recorded a 23% increase in interest among Polish investors in Q1 2026.
In the past quarter, Polish investors continued to focus on technology stocks. Oracle Corporation ranked fourth (+21%), while IBM came in ninth (+13%), and Samsung Electronics closed the top ten with a 12% increase.
Paweł Majtkowski, market analyst at eToro, commented:
In Q1, Polish retail investors allocated capital to companies benefiting from several strong trends – the expansion of AI infrastructure, rising oil prices, and increased defense spending. Interest grew in Micron, Oracle, and Samsung, which are linked to memory, cloud, and the technological backbone of AI. At the same time, oil companies such as Chevron and Exxon Mobil gained traction, showing that during periods of rising oil prices investors also seek exposure to the energy sector. Raytheon also gained popularity, reflecting growing defense spending and increasing military orders in Europe and the U.S. MercadoLibre also attracted attention as a way to gain exposure to the growth of e-commerce and financial services in Latin America. Investor interest was further supported by the EU agreement with Mercosur countries.
Amid escalating geopolitical tensions, it is no surprise that Polish investors also showed increased interest in defense and space companies. Rocket Lab ranked sixth (+16%), while Raytheon Technologies placed eighth (+14%).
Selectivity in AI investments is also evident in the ranking of the most widely held stocks, which remained largely stable compared to the previous quarter. The number of holders of major AI players such as Nvidia and Alphabet remained unchanged or saw only slight variations, while Microsoft recorded a 10% increase, maintaining second place.
Paweł Majtkowski added:
Polish investors are becoming increasingly selective in their approach to the technology sector. There is growing awareness that high AI investment spending will not always translate into profits, and not all companies competing in this space will succeed. In the case of Micron and Oracle, investors focused on companies tied to infrastructure and technological backbones for AI, while IBM may benefit from enterprise implementations. At the same time, interest declined in more speculative or less convincing companies such as C3.ai and Intel. This shows that Polish investors are not turning away from technology, but are increasingly choosing companies they believe are more likely to benefit from AI development.
Among the biggest losers in Q1 were companies from various sectors. Polish parcel delivery firm InPost ranked first with a 32% decline in the number of holders, followed by Starbucks (-18%) and telecom operator Verizon (-16%).
Majtkowski concluded:
Among the companies that lost the most popularity was Amsterdam-listed InPost. In its case, a share buyback announcement and tender offer aimed at delisting the company by mid-year drove the share price up, bringing it close to the offer price. For many investors, this created an opportunity to realize profits.
Starbucks also lost popularity as it struggles with declining sales and increasing competitive pressure. In an environment of rising inflation, consumers may be less willing to spend on coffee outside the home. Although the company showed financial improvement in the last quarter, in a market dominated by AI and energy stocks, some investors simply viewed it as having lower growth potential.
Disclaimer: The information contained in this publication is provided for informational purposes only. It does not constitute financial advice or any other form of advice, is of a general nature, and is not directed at any specific recipient. Before using this information for any purpose, independent advice should be sought.
