Magnificient 7: NVDA plunged 9.53% after DOJ subpoena news

1. Amazon (Nasdaq: AMZN)
Amazon dipped mildly by -1.26%. Amazon reported a transaction volume of $6.661 billion on September 3, ranking fifth among US stocks for the day. JMP Securities maintained its Market Outperform rating on Amazon, setting the latest target price at $265.00. Amazon is recruiting Covariant's founding team for warehouse automation advancements.

2. Tesla (Nasdaq: TSLA)
Tesla dipped mildly by -1.64%. Tesla's traded value on September 3 was $16.34 billion, ranking 2nd on the U.S. stock market. Cantor Fitzgerald reiterated a Neutral rating for Tesla with a new target price of $245. Tesla reported revenue of $46.8 billion for H1 2024, down 3.02% YoY, and net profit of $2 billion. Tesla announced it will unveil its new Robotaxi at Warner Bros. Studio in Burbank, California, on October 10.

3. Meta (Nasdaq: META)
Meta dipped mildly by -1.83%. Meta's Quest 3S VR headset has passed FCC certification, is expected to be unveiled at the Connect conference with a price under $3000, and targets the entry-level VR headset market. Meta reportedly axed its AR/VR chip project, laying off the team.

4. Microsoft (Nasdaq: MSFT)
Microsoft dipped mildly by -1.85%. Microsoft Studios is developing two new Transformers games. Windows 11 surpassed 50% user share on Steam. Microsoft admitted a bug allowing Recall AI uninstallation and will fix it. Microsoft acknowledged the importance of allowing users to select default applications in Windows 11 and 10.

5. Apple (Nasdaq: AAPL)
Apple dipped mildly by -2.72%. Apple (AAPL.US) will host a product launch event on September 10 featuring the AI-enabled iPhone, available from September 20. The AI features will be activated via a software update in October. Apple addressed concerns about iPhone compatibility with WeChat.

6. Alphabet (Nasdaq: GOOG)
Alphabet dropped solidly by -3.94%. Alphabet Inc. reported $3.955 billion trading volume on September 3. O'Toole Amie Thuener sold 682 shares on September 3. Morgan Stanley maintains Overweight rating on Alphabet A with a new price target of $190. Chromebooks to feature more AI functionalities. Pixel 9 Pro XL reported screen issues.

7. Nvidia (Nasdaq: NVDA)
Nvidia plunged by -9.53%. NVIDIA reported a trading volume of $518.12 billion on September 3, 2024, ranking first in the US stock market. The company responded to reports about receiving a subpoena from the US Department of Justice, stating customers can choose the best solutions.