icon
icon
icon
icon
Upgrade
icon

Explosive Gains: Nvidia Leads with 39.63B in Trading Volume

AInvestFriday, Aug 30, 2024 6:31 pm ET
2min read
1. Nvidia (Nasdaq: NVDA)
Nvidia gained mildly by 1.51%, with the trading volume of 39.63B. Nvidia's revenue for the quarter ending July 28, 2024, reached $56.084 billion, with a net profit of $31.480 billion. Apple and Nvidia are discussing investing in OpenAI, with an anticipated valuation exceeding $100 billion. Bernstein maintains Nvidia's rating as outperform with a target price of $155.00.

2. Tesla (Nasdaq: TSLA)
Tesla gained solidly by 3.80%, with the trading volume of 13.29B. Tesla plans to unveil RoboTaxi at California’s Warner Bros. Studios and recalls 870 imported Model X vehicles due to safety issues with roof trim. William Blair initiated coverage on Tesla with an outperform rating. Tesla and Elon Musk won dismissal in a lawsuit alleging Dogecoin market manipulation.

3. Apple (Nasdaq: AAPL)
Apple dipped mildly by -0.34%, with the trading volume of 12.11B. Apple and Nvidia are in talks to invest in OpenAI, which could concern investors about Apple's search engine agreement with Google. The investment is part of OpenAI's latest funding round, potentially valuing OpenAI at over $100 billion.

4. Microsoft (Nasdaq: MSFT)
Microsoft gained mildly by 0.97%, with the trading volume of 10.03B. Microsoft unveiled Maia 100, an AI-specific chip at the Hot Chip 2024 conference, manufactured on TSMC's 5nm node. Microsoft plans to phase out the Action Pack by January 2025 to accelerate cloud migration. Microsoft released the Windows 10 August optional update KB5041582.

5. Nu Holdings Ltd. (NYSE: NU)
Nu Holdings Ltd. gained solidly by 4.99%, with the trading volume of 8.36B. Nu Holdings reported significant trading activity on August 30, with a total transaction value of $8.38 billion, reflecting a 1421.79% increase from the previous trading day.

6. Amazon (Nasdaq: AMZN)
Amazon.Com gained solidly by 3.71%, with the trading volume of 7.61B. Amazon's revamped Alexa will be driven by Anthropic's AI model Claude. Amazon launched generative AI in Australia. Amazon supports two water replenishment projects in China. Amazon got approval to buy land in New Zealand for its Kuiper satellite project. GE Healthcare and Amazon Web Services formed a strategic partnership to accelerate healthcare transformation using generative AI.

7. Meta Platforms (Nasdaq: META)
Meta Platforms gained mildly by 0.60%, with the trading volume of 4.75B. Meta halted official support for the first-generation Quest VR headset, ending security updates and bug fixes. Meta's Llama AI model is being adopted by companies like Goldman Sachs and AT&T, with downloads nearing 350 million. Meta plans to launch the Quest 4 smart glasses next year and the lightweight Puffin mixed-reality headset by 2027.

8. Super Micromputer (Nasdaq: SMCI)
Super Micromputer dipped mildly by -2.48%, with the trading volume of 4.67B. Super Micro Computer filed for a delay in releasing its 10-K annual report, citing ongoing evaluations. On August 28, the company experienced a notable stock drop of over 19%. CFRA downgraded its rating to Hold with a target price of $454. Barclays reiterated the Overweight rating.

9. Advanced Micro Devices (Nasdaq: AMD)
Advanced Micro Devices gained mildly by 2.11%, with the trading volume of 4.58B. AMD reported $4.584 billion in trading volume on August 30. AMD announced impressive performance of its Instinct MI300X GPU in the MLPerf Inference v4.1 benchmarks using ROCm.

10. Broadcom (Nasdaq: AVGO)
Broadcom gained solidly by 3.75%, with the trading volume of 4.06B. Broadcom's trading volume on August 30 was $4.064 billion, ranking 10th in US stocks. Broadcom shares rose over 3% amid a broader market rally in key indices and technology stocks. Broadcom also dropped over 2% in after-hours trading following Nvidia's earnings forecast.
Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.