Magnificent 7: Tesla drops 5.65%, another exec departs amidst uncertainty
AInvestThursday, Aug 22, 2024 7:00 pm ET
1min read
META --
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.
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.