Explosive Trading Volumes Shake Market Amidst Tech Giants Strategic Moves
Wednesday, Oct 23, 2024 6:31 pm ET
2min read 1. Nvidia (Nasdaq: NVDA)
Nvidia dipped mildly by -2.81%, with the trading volume of 39.65B. NVIDIA CEO Jensen Huang announced the launch of Gefion, a supercomputer with 1528 GPUs for life sciences, and confirmed that design flaws in the Blackwell AI chips have been fixed with TSMC's help, and they're set to ship in Q4.
2. Tesla (Nasdaq: TSLA)
Tesla dipped mildly by -1.98%, with the trading volume of 15.07B. Tesla's Q3 results exceeded expectations with net profit surpassing forecasts. Cybertruck's gross margin turned positive, and automotive margins improved to 17.1% driven by FSD features. CFO Vaibhav Taneja emphasized cost reduction, despite Q4 margin challenges. CEO Elon Musk confirmed future affordable EVs under $30,000.
3. Apple (Nasdaq: AAPL)
Apple dipped mildly by -2.16%, with the trading volume of 11.97B. Apple is set to produce a new MacBook Air with M4 chips, launching in early 2025. Meanwhile, they released a preview of AI features, including ChatGPT integration. Reports indicate a 10 million unit cut in iPhone 16 orders from late 2024 to mid-2025.
4. Microsoft (Nasdaq: MSFT)
Microsoft dipped mildly by -0.68%, with the trading volume of 8.34B. Citigroup maintains Microsoft as a buy, setting a target price of $497. Microsoft's revenue for FY2024, ending June 30, reached $245.12 billion, with a net profit of $88.136 billion.
5. Meta Platforms (Nasdaq: META)
Meta Platforms dropped solidly by -3.15%, with the trading volume of 8.07B. Meta reached a $8.068 billion turnover on October 23. The company is developing AI glasses to aid the visually impaired and announced a significant fiber-optic network collaboration. Additionally, a Polish antitrust investigation was initiated regarding news link display changes on Facebook.
6. Amazon (Nasdaq: AMZN)
Amazon.Com dipped mildly by -2.63%, with the trading volume of 5.87B. Amazon is closing its same-day delivery service, Amazon Today, for shopping centers and retail stores, phasing it out gradually. Additionally, Amazon-backed AI startup Anthropic launched an AI agent capable of performing complex tasks using computers, marking a significant milestone.
7. Mcdonald'S (NYSE: MCD)
Mcdonald'S dropped solidly by -5.07%, with the trading volume of 5.57B. McDonald's is actively cooperating with the CDC to investigate E. coli infections. Meanwhile, Wedbush, TD Cowen, and Guggenheim have issued ratings, highlighting differing target prices. Despite E. coli concerns, McDonald's suppliers report no detection of the strain within CDC's specified period.
8. Advanced Micro Devices (Nasdaq: AMD)
Advanced Micro Devices dipped mildly by -0.77%, with the trading volume of 3.95B. Advanced Micro Devices confirmed its most powerful APU yet, with performance comparable to the mobile RTX 4070.
9. Microstrategy Incorporated (Nasdaq: MSTR)
Microstrategy Incorporated dipped mildly by -2.62%, with the trading volume of 3.57B. BTIG maintains a Buy rating on Microstrategy, raising the price target to $240. Microstrategy reported a 6.45% decrease in revenue to $227 million for the period ending June 30, 2024.
10. Broadcom (Nasdaq: AVGO)
Broadcom dropped solidly by -3.27%, with the trading volume of 3.31B. Broadcom experienced a 52.97% increase in trading volume on October 23, 2024, with a total of $3.307 billion. It followed the market trend as the US semiconductor sector declined, with major players like TSMC and AMD falling over 2%.
Nvidia dipped mildly by -2.81%, with the trading volume of 39.65B. NVIDIA CEO Jensen Huang announced the launch of Gefion, a supercomputer with 1528 GPUs for life sciences, and confirmed that design flaws in the Blackwell AI chips have been fixed with TSMC's help, and they're set to ship in Q4.
2. Tesla (Nasdaq: TSLA)
Tesla dipped mildly by -1.98%, with the trading volume of 15.07B. Tesla's Q3 results exceeded expectations with net profit surpassing forecasts. Cybertruck's gross margin turned positive, and automotive margins improved to 17.1% driven by FSD features. CFO Vaibhav Taneja emphasized cost reduction, despite Q4 margin challenges. CEO Elon Musk confirmed future affordable EVs under $30,000.
3. Apple (Nasdaq: AAPL)
Apple dipped mildly by -2.16%, with the trading volume of 11.97B. Apple is set to produce a new MacBook Air with M4 chips, launching in early 2025. Meanwhile, they released a preview of AI features, including ChatGPT integration. Reports indicate a 10 million unit cut in iPhone 16 orders from late 2024 to mid-2025.
4. Microsoft (Nasdaq: MSFT)
Microsoft dipped mildly by -0.68%, with the trading volume of 8.34B. Citigroup maintains Microsoft as a buy, setting a target price of $497. Microsoft's revenue for FY2024, ending June 30, reached $245.12 billion, with a net profit of $88.136 billion.
5. Meta Platforms (Nasdaq: META)
Meta Platforms dropped solidly by -3.15%, with the trading volume of 8.07B. Meta reached a $8.068 billion turnover on October 23. The company is developing AI glasses to aid the visually impaired and announced a significant fiber-optic network collaboration. Additionally, a Polish antitrust investigation was initiated regarding news link display changes on Facebook.
6. Amazon (Nasdaq: AMZN)
Amazon.Com dipped mildly by -2.63%, with the trading volume of 5.87B. Amazon is closing its same-day delivery service, Amazon Today, for shopping centers and retail stores, phasing it out gradually. Additionally, Amazon-backed AI startup Anthropic launched an AI agent capable of performing complex tasks using computers, marking a significant milestone.
7. Mcdonald'S (NYSE: MCD)
Mcdonald'S dropped solidly by -5.07%, with the trading volume of 5.57B. McDonald's is actively cooperating with the CDC to investigate E. coli infections. Meanwhile, Wedbush, TD Cowen, and Guggenheim have issued ratings, highlighting differing target prices. Despite E. coli concerns, McDonald's suppliers report no detection of the strain within CDC's specified period.
8. Advanced Micro Devices (Nasdaq: AMD)
Advanced Micro Devices dipped mildly by -0.77%, with the trading volume of 3.95B. Advanced Micro Devices confirmed its most powerful APU yet, with performance comparable to the mobile RTX 4070.
9. Microstrategy Incorporated (Nasdaq: MSTR)
Microstrategy Incorporated dipped mildly by -2.62%, with the trading volume of 3.57B. BTIG maintains a Buy rating on Microstrategy, raising the price target to $240. Microstrategy reported a 6.45% decrease in revenue to $227 million for the period ending June 30, 2024.
10. Broadcom (Nasdaq: AVGO)
Broadcom dropped solidly by -3.27%, with the trading volume of 3.31B. Broadcom experienced a 52.97% increase in trading volume on October 23, 2024, with a total of $3.307 billion. It followed the market trend as the US semiconductor sector declined, with major players like TSMC and AMD falling over 2%.
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