Magnificient 7: TSLA dropped 3.49%, Tesla's Q3 Deliveries Lag Behind Expectations

1. Nvidia (Nasdaq: NVDA)
Nvidia gained mildly by 1.58%. NVIDIA expanded its partnership with Accenture to boost AI adoption, ceasing double-cabinet GB200AI server development due to resource constraints. An insider sale was disclosed, with Director Mark A. Stevens selling 40,000 shares on September 27, 2024.

2. Apple (Nasdaq: AAPL)
Apple gained mildly by 0.25%. Apple reported $7.386 billion in transactions on October 2, ranking third in the U.S. stock market. The iPhone 16 saw reduced delivery times with rising material costs. Apple introduced new AirPods Pro2 firmware and revealed future devices like iPhone SE 4 and iPad Air.

3. Amazon (Nasdaq: AMZN)
Amazon dipped mildly by -0.20%. Amazon's transaction volume on October 2 was $4.367 billion, ranking 8th on the US stock market for the day. Cantor Fitzgerald reiterated an Overweight rating for Amazon, with a target price of $230.00.

4. Meta (Nasdaq: META)
Meta dipped mildly by -0.63%. Meta Platforms' October 2nd trading volume was $3.726 billion. Wells Fargo and Pivotal Research maintain favorable ratings, with targets of $652 and $780. Meta plans to expand AI innovation investments in Vietnam, including producing new VR devices from 2025.

5. Alphabet (Nasdaq: GOOG)
Alphabet dipped mildly by -0.66%. Alphabet A and C received mixed analyst actions with Wells Fargo maintaining an equal-weight rating and setting a target of $182, while Pivotal Research initiated coverage on Alphabet C with a buy rating and a $215 target. Alphabet is researching AI to compete with OpenAI.

6. Microsoft (Nasdaq: MSFT)
Microsoft dipped mildly by -0.85%. Microsoft has stopped producing HoloLens 2 to focus on military projects. Windows 11's market share reaches a new high, as Microsoft ends security updates for Windows 10. Xbox Game Pass adds four new titles, and Krafton acquires a former Microsoft studio.

7. Tesla (Nasdaq: TSLA)
Tesla dropped solidly by -3.49%. Tesla delivered approximately 462,890 vehicles in Q3 2024, slightly below the expected 463,897 but saw Model 3/Y surpass expectations with 439,975 units delivered. Despite lower-than-expected deliveries, production reached about 470,000 vehicles, with strong performance in energy storage installations.