Magnificient 7: Tesla surged 3.91% on New Battery Plans and Model 3 Updates

1. Tesla (Nasdaq: TSLA)
Tesla gained solidly by 3.91%. Tesla plans to launch four new batteries in 2026 for autonomous Robotaxi use, halts U.S. sales of the Model 3 Standard Range, and addresses safety concerns with Full Self-Driving in ride-sharing. Model 3 features a new light design, while Cybertruck recalls 27,000 units.

2. Amazon (Nasdaq: AMZN)
Amazon gained mildly by 2.50%. Amazon reported a trading volume of $7.591 billion on October 4, ranking sixth among U.S. stocks. JMP Securities reiterated its market outperform rating with a target price of $265.00. Morgan Stanley maintains an overweight rating, targeting $210.00. Xbox co-founder joins Amazon as VP of Devices & Services.

3. Meta (Nasdaq: META)
Meta gained mildly by 2.26%. Meta Platforms revealed a new AI model named Movie Gen for generating realistic videos and audio. Meanwhile, Revolut criticized Meta's approach to combating fraud on its platforms, suggesting victims should be compensated. Concerns were raised over privacy due to Meta's integration of facial recognition with smart glasses.

4. Nvidia (Nasdaq: NVDA)
Nvidia gained mildly by 1.68%. NVIDIA insiders have cashed out over $1.8 billion in stock this year, with more sales anticipated. Active funds underperformed due to underexposure to NVIDIA. Cisco to invest in CoreWeave, backed by NVIDIA. NVIDIA is set to increase shipments of its Blackwell AI processors.

5. Alphabet (Nasdaq: GOOG)
Alphabet gained mildly by 0.81%. Google is set to release the Pixel 9a in March 2025. Sora, a former OpenAI development leader, has joined Google. Google's NotebookLM now processes audio and video files, drawing interest from former OpenAI's Andrej Karpathy. Google is collaborating with BioNTech on an AI laboratory assistant.

6. Apple (Nasdaq: AAPL)
Apple gained mildly by 0.50%. Apple plans to release iPhone SE 4 in 2025 with A18 processor and 5G. New production line set up in China and increased iPhone manufacturing in India. Apple will launch new M4-chip Macs this year. CEO Tim Cook sold $350 million worth of stock.

7. Microsoft (Nasdaq: MSFT)
Microsoft dipped mildly by -0.12%. Microsoft faces an EU antitrust investigation over its Edge browser. Third-party lawsuits have been filed, and browser makers urge EU scrutiny. Additionally, Microsoft will remove the Feed service from Microsoft 365 on November 1, 2024. Win 11 introduces new AI features.