Record Trading Volumes Propel Nvidia and Eli Lilly to New Highs

1. Nvidia (Nasdaq: NVDA)
Nvidia surged by 6.13%, with the trading volume of 39.69B. NVIDIA disclosed 19 insider transactions on August 8, 2024, with CEO Huang Jen Hsun selling 27,900 shares on August 7. NVIDIA-backed CoreWeave hired executives from Google and Oracle to advance its AI infrastructure. TrendForce forecasts NVIDIA will dominate the HBM market with a 70% share by 2025.

2. Tesla (Nasdaq: TSLA)
Tesla gained solidly by 3.69%, with the trading volume of 12.68B. Tesla's Q2 safety report highlights its driving safety is 10 times that of ordinary vehicles. Tesla Beijing Sales Manager Lu Yanan noted consumers prioritize value over price. RBC Capital maintains an outperform rating but lowers the price target to $224.

3. Apple (Nasdaq: AAPL)
Apple gained mildly by 1.66%, with the trading volume of 9.90B. Apple has updated its App Store terms, allowing developers to offer products outside its ecosystem to comply with EU regulations. Apple plans to release a new Mac mini, the smallest desktop computer to date, later this year. Apple Wallet app will support Lynk & Co car keys.

4. Meta Platforms (Nasdaq: META)
Meta Platforms gained solidly by 4.24%, with the trading volume of 8.06B. Meta is negotiating with Hollywood stars for AI voice rights. Cathie Wood's ARK Innovation ETF has increased its holdings in Meta. Meta Platforms issued $10.5 billion in senior unsecured bonds. S&P rated Meta's new bonds as "AA-". Meta closed VR game studio Ready at Dawn. Meta is in potential VR collaboration talks with Jio.

5. Eli Lilly Andmpany (NYSE: LLY)
Eli Lilly Andmpany surged by 9.38%, with the trading volume of 7.91B. Eli Lilly's Q2 2024 net income surged nearly 70%, driven by $12 billion in obesity drug revenue. The company raised its full-year revenue guidance by $3 billion to $454-$466 billion.

6. Microsoft (Nasdaq: MSFT)
Microsoft gained mildly by 1.07%, with the trading volume of 7.73B. Microsoft responded to the "blue screen incident," stating it's not solely to blame. At the Black Hat 2024 conference, SafeBreach's Alon Leviev revealed two zero-day vulnerabilities affecting Windows 10, 11. Microsoft updated Outlook, renaming older desktop versions as "Outlook classic."

7. Amazon (Nasdaq: AMZN)
Amazon.Com gained mildly by 1.86%, with the trading volume of 7.30B. The UK Competition and Markets Authority is investigating Amazon's $4 billion investment in AI startup Anthropic for potential antitrust concerns.

8. Advanced Micro Devices (Nasdaq: AMD)
Advanced Micro Devices gained solidly by 5.95%, with the trading volume of 6.52B. Advanced Micro Devices (AMD) launched Ryzen 9000 series with R5 9600X selling out quickly and R7 9700X now available. R9 9950X and R9 9900X will be released on August 15. Cathie Wood's ARK Innovation ETF increased its holdings in AMD.

9. Super Micromputer (Nasdaq: SMCI)
Super Micromputer gained solidly by 3.50%, with the trading volume of 5.93B. Super Micro Computer's 2024 annual report shows a significant revenue increase. Despite strong AI chip demand, company margins fell due to intense price competition. Goldman Sachs, B of A Securities, and Wells Fargo downgraded its rating to Neutral, reflecting caution among analysts.

10. Alphabet (Nasdaq: GOOGL)
Alphabet gained mildly by 1.94%, with the trading volume of 4.11B. CoreWeave, invested in by Nvidia, hired two executives from Google and Oracle to advance its AI business. Chen Goldberg, former VP of Engineering at Google's Alphabet, will become CoreWeave's Senior VP. Sachin Jain, previously Oracle's Senior VP of AI Infrastructure and Product Management, will serve as COO.