Magnificent 7: Amazon down 1.36%, Alexa to undergo significant maintenance
Tuesday, Aug 27, 2024 7:00 pm ET
1. Nvidia (Nasdaq: NVDA)
Nvidia gained mildly by 1.46%. Nvidia reported a trading volume of $384.86 billion on August 27, leading the market for the day. Truist Securities maintained a Buy rating for Nvidia with an updated target price of $145.00. Cerebras introduced a new AI processor to compete with Nvidia.
2. Apple (Nasdaq: AAPL)
Apple gained mildly by 0.37%. Citigroup, Morgan Stanley, and Evercore ISI Group maintain positive ratings on Apple with target prices ranging from $250 to $273. Apple reported Q3 2024 revenue of $2961.05 billion and net profit of $790 billion. Upcoming iPhone 16 launch features significant hardware upgrades.
3. Microsoft (Nasdaq: MSFT)
Microsoft gained mildly by 0.08%. Microsoft announced the removal of a classic feature, with 77% user opposition. Former Microsoft engineer builds a PDP-11 computer from landfill parts. CEO Satya Nadella sold 14,398 shares for approximately $6 million on August 23. Microsoft disclosed two insider transactions on August 26.
4. Meta (Nasdaq: META)
Meta dipped mildly by -0.39%. Meta Platforms Inc. CEO Mark Zuckerberg criticized the Biden administration for pressuring the company to censor COVID-19 content and announced stopping donations for local election management. Meta and Sage Geosystems agreed on a geothermal energy project for U.S. data centers. Development of a new MR headset was halted due to high costs.
5. Alphabet (Nasdaq: GOOG)
Alphabet dipped mildly by -0.92%. Google's planned new data center in Ireland was rejected due to local grid capacity issues. Google will release the Android 15 update for Pixel devices in October. Google's aggressive AI strategy is blamed for issues with the Pixel 9 chip. Multiple problems have emerged with the Google Pixel 9 series, including camera misalignment and wireless charging issues.
6. Amazon (Nasdaq: AMZN)
Amazon dipped mildly by -1.36%. Amazon's August 27 trading volume reached $5.154 billion, ranked 7th in U.S. markets. Amazon's Alexa to undergo significant maintenance in October. Branded and Heyday, both Amazon aggregators, plan to merge. Wells Fargo maintains an "overweight" rating on Amazon, with a price target of $225.00.
7. Tesla (Nasdaq: TSLA)
Tesla dipped mildly by -1.88%. Tesla's trading volume ranked second on August 27 with $13.128 billion. Tesla secured a major overseas order alongside Sungrow Power. Tesla's Semi truck factory construction has commenced. Elon Musk demonstrated Tesla's Cortex supercomputer. Musk supports California's AI Safety Bill SB 1047.
Nvidia gained mildly by 1.46%. Nvidia reported a trading volume of $384.86 billion on August 27, leading the market for the day. Truist Securities maintained a Buy rating for Nvidia with an updated target price of $145.00. Cerebras introduced a new AI processor to compete with Nvidia.
2. Apple (Nasdaq: AAPL)
Apple gained mildly by 0.37%. Citigroup, Morgan Stanley, and Evercore ISI Group maintain positive ratings on Apple with target prices ranging from $250 to $273. Apple reported Q3 2024 revenue of $2961.05 billion and net profit of $790 billion. Upcoming iPhone 16 launch features significant hardware upgrades.
3. Microsoft (Nasdaq: MSFT)
Microsoft gained mildly by 0.08%. Microsoft announced the removal of a classic feature, with 77% user opposition. Former Microsoft engineer builds a PDP-11 computer from landfill parts. CEO Satya Nadella sold 14,398 shares for approximately $6 million on August 23. Microsoft disclosed two insider transactions on August 26.
4. Meta (Nasdaq: META)
Meta dipped mildly by -0.39%. Meta Platforms Inc. CEO Mark Zuckerberg criticized the Biden administration for pressuring the company to censor COVID-19 content and announced stopping donations for local election management. Meta and Sage Geosystems agreed on a geothermal energy project for U.S. data centers. Development of a new MR headset was halted due to high costs.
5. Alphabet (Nasdaq: GOOG)
Alphabet dipped mildly by -0.92%. Google's planned new data center in Ireland was rejected due to local grid capacity issues. Google will release the Android 15 update for Pixel devices in October. Google's aggressive AI strategy is blamed for issues with the Pixel 9 chip. Multiple problems have emerged with the Google Pixel 9 series, including camera misalignment and wireless charging issues.
6. Amazon (Nasdaq: AMZN)
Amazon dipped mildly by -1.36%. Amazon's August 27 trading volume reached $5.154 billion, ranked 7th in U.S. markets. Amazon's Alexa to undergo significant maintenance in October. Branded and Heyday, both Amazon aggregators, plan to merge. Wells Fargo maintains an "overweight" rating on Amazon, with a price target of $225.00.
7. Tesla (Nasdaq: TSLA)
Tesla dipped mildly by -1.88%. Tesla's trading volume ranked second on August 27 with $13.128 billion. Tesla secured a major overseas order alongside Sungrow Power. Tesla's Semi truck factory construction has commenced. Elon Musk demonstrated Tesla's Cortex supercomputer. Musk supports California's AI Safety Bill SB 1047.