Magnificient 7: NVDA surged 3.78%, CEO Sold Nearly $500M Stock

1. Meta (Nasdaq: META)
Meta gained solidly by 3.86%. Meta's trading volume on August 6 was $10.301 billion, ranking fourth in the U.S. stock market. Loop Capital maintained its buy rating on Meta, raising the price target to $575. Meta reported Q2 2024 earnings with revenue at $75.527 billion, up 24.54 percent year-on-year. On August 5, Meta disclosed an insider transaction with executive Olivan Javier selling 412 shares on August 1.

2. Nvidia (Nasdaq: NVDA)
Nvidia gained solidly by 3.78%. Nvidia saw $41.825B in trading volume on August 6, ranking first in the US market. Analysts highlighted Nvidia's AI leadership despite delayed Blackwell chip production. New Street Research upgraded Nvidia to Buy with a $120 target. CEO Jensen Huang sold nearly $500M in Nvidia stock this summer.

3. Microsoft (Nasdaq: MSFT)
Microsoft gained mildly by 1.13%. Microsoft's August 6 trading volume was $9.969 billion, ranking fifth in the U.S. stock market. Microsoft launched the Surface Pro 11 "5G Commercial Version," featuring Qualcomm Snapdragon X Elite, available from September 11 for 14,388 yuan. Microsoft also announced that future versions of Windows 10 and 11 will no longer support Adobe PostScript Type1 fonts, and released a Windows 11 update for Dev Channel. Starting today, Microsoft is integrating security with employee performance evaluations.

4. Tesla (Nasdaq: TSLA)
Tesla gained mildly by 0.88%. Tesla CEO Elon Musk claims a large-scale boycott of its social media platform X resulted in multibillion-dollar revenue losses and breached antitrust laws. In other news, German retailer Dirk Rossmann GmbH announced it will no longer purchase Tesla vehicles due to Musk’s support for Donald Trump. Additionally, Tesla paused its Thailand factory plans to focus on expanding the country’s charging network. Tesla also announced vehicle recalls alongside Mercedes and Porsche.

5. Amazon (Nasdaq: AMZN)
Amazon gained mildly by 0.57%. Amazon reported a transaction volume of $9.715 billion on August 6, ranking sixth in U.S. markets; Morgan Stanley maintained an Overweight rating but lowered the price target to $210. Amazon released its mid-2024 report on August 2 with revenue at $291.29 billion, up 11.29% year-on-year.

6. Alphabet (Nasdaq: GOOG)
Alphabet dipped mildly by -0.06%. On August 5, a U.S. federal judge ruled that Google violated antitrust laws by monopolizing the search market. BMO Capital maintained its Outperform rating for Alphabet A with a target price of $222. Google announced the release of a new Google TV Streamer priced at $99.99.

7. Apple (Nasdaq: AAPL)
Apple dipped mildly by -0.97%. Apple's August 6 trading volume was $14.37 billion, ranking third in US stocks that day. Morgan Stanley maintained an overweight rating with a $273 target price. On August 2, Apple reported Q3 earnings with revenue of $296.1 billion and net profit of $79 billion. The company's smartphone sales declined in China.