Magnificient 7: NVDA plunged 6.38% on weak guidance for strong Q2 revenue

1. Apple (Nasdaq: AAPL)
Apple gained mildly by 1.46%. Apple conducted talks to join OpenAI's new financing round. Citi named Apple its top AI stock pick for 2025, predicting an iPhone upgrade cycle. Apple rose over 1% on these announcements.

2. Amazon (Nasdaq: AMZN)
Amazon gained mildly by 0.77%. Amazon received approval to purchase land in New Zealand for its Project Kuiper satellite internet initiative. Additionally, GE Healthcare and Amazon Web Services formed a strategic partnership to accelerate healthcare transformation using generative AI.

3. Microsoft (Nasdaq: MSFT)
Microsoft gained mildly by 0.61%. Microsoft secured a patent related to AR/VR headsets, likely applicable to HoloLens 3, exploring multi-modal interactions like gesture, gaze, and head tracking. Additionally, Microsoft reportedly infused new funding into OpenAI, pushing its valuation past $100 billion.

4. Meta (Nasdaq: META)
Meta gained mildly by 0.28%. Meta plans to release Puffin, a lightweight mixed reality headset, in 2027. It is also set to launch Quest 4 smart glasses next year. Separately, Trump criticized Zuckerberg's actions during the 2020 election, warning against future interference. Meta reportedly discontinued its self-developed AR/VR chip project.

5. Tesla (Nasdaq: TSLA)
Tesla gained mildly by 0.26%. Tesla's trading volume reached $13.084 billion on August 29, 2024, ranking second in US stocks. William Blair has initiated coverage on Tesla with an Outperform rating. Tesla has denied rumors about launching a seven-seat Model Y in China and is reportedly planning significant energy storage initiatives.

6. Alphabet (Nasdaq: GOOG)
Alphabet dipped mildly by -0.67%. Alphabet Inc. launched the AI game development model GameNGen, potentially allowing individual creators to develop complex games. Yelp filed an antitrust lawsuit against Google, accusing it of abusing its dominance in local search and related ad markets. Google is considering building a large-scale data center in Vietnam.

7. Nvidia (Nasdaq: NVDA)
Nvidia plunged by -6.38%. Nvidia reported Q2 FY2025 earnings with revenue of $30 billion, up 122% YoY. Despite strong results, guidance missed high expectations, disappointing the market. Nvidia is in discussions to join OpenAI's new financing round, potentially valuing OpenAI over $100 billion.