Magnificent 7: Tesla drops 5.65%, another exec departs amidst uncertainty

1. Meta (Nasdaq: META)
Meta dipped mildly by -0.60%. Meta Platforms disclosed 48 insider transactions on August 21, including Mark Zuckerberg selling 3,135 shares. Meta launched new web crawlers for AI training, updated Quest 2 headset for multimodal input, and published Horizon Store App guidelines for developers.

2. Apple (Nasdaq: AAPL)
Apple dipped mildly by -0.83%. Apple is allowing users to delete system apps like Camera, App Store, Photos, and Messages. Apple's App Store executive has resigned, and the team will be divided. Analyst Ming-Chi Kuo reports a delay in the foldable MacBook production to late 2027 or 2028. Apple will offer more default browser options in the EU.

3. Alphabet (Nasdaq: GOOG)
Alphabet dipped mildly by -1.28%. Google reached a $250 million agreement with California to support news organizations, with $70 million for AI resources. Google faced controversy over AI misuse in Pixel phones and announced Chrome 128, improving stability and performance across multiple platforms.

4. Microsoft (Nasdaq: MSFT)
Microsoft dipped mildly by -2.03%. Microsoft launched a $29.99 single-hand Xbox adaptive controller for disabled gamers. Microsoft signed an agreement with Samsung to develop Micro-OLED displays for mixed reality headsets. Microsoft reorganized its reporting structure to highlight AI growth advantages by moving ad revenue from the intelligent cloud to Azure.

5. Amazon (Nasdaq: AMZN)
Amazon dipped mildly by -2.21%. Amazon's 2024 trading volume on August 22 reached $5.682 billion, ranking 7th on that day. AWS will invest over $6.2 billion in Malaysia, with a new cloud region now operational. Amazon's market in India saw 25% growth in three major categories. A new distribution center in the U.S. has launched with a $300 million investment. Amazon released a cross-border e-commerce white paper. Anthropic, backed by Amazon, faces a lawsuit over AI data copyright issues.

6. Nvidia (Nasdaq: NVDA)
Nvidia dropped solidly by -3.70%. Nvidia recorded a trading volume of $469.10 billion on August 22, ranking first in the US stock market. Rosenblatt maintains a Buy rating on Nvidia with a target price of $200.00. Nvidia's startup showcase event successfully concluded in Hong Kong. SK Telecom will partner with Lambda to launch an AI data center in Seoul using Nvidia's H100 GPUs.

7. Tesla (Nasdaq: TSLA)
Tesla dropped solidly by -5.65%. Tesla's electric vehicle sector faces uncertainty as another senior executive, Sreela Venkataratnam, leaves. Tesla's humanoid robot debuted in Beijing, and the company plans to recall over 9000 Model X vehicles due to roof trim issues.