Magnificient 7: Intel to Make AI Chips for Amazon in New Collaboration
Tuesday, Sep 17, 2024 7:00 pm ET
1min read 1. Amazon (Nasdaq: AMZN)
Amazon gained mildly by 1.08%. Amazon's CEO announced a new management initiative, requiring employees to work in-office five days a week while flattening the organization. Additionally, Intel will custom-make AI chips for Amazon as part of a new collaboration agreement.
2. Microsoft (Nasdaq: MSFT)
Microsoft gained mildly by 0.88%. Microsoft and BlackRock plan a $300 billion AI energy fund for data centers. Morgan Stanley maintained Microsoft's "Overweight" rating with a $506 target. Microsoft approved a $60 billion stock buyback and announced a $0.83 quarterly dividend. They launched new Copilot Pages for AI integration.
3. Alphabet (Nasdaq: GOOG)
Alphabet gained mildly by 0.81%. Google pauses Santiago data center plan, valuing it at $200M, due to environmental concerns. Alphabet A's recent insider trades disclosed. Truist and BMO Capital maintain Alphabet A ratings; Evercore ISI lowers price target to $200.
4. Meta (Nasdaq: META)
Meta gained mildly by 0.57%. Meta Platforms announced new privacy settings for Instagram targeting teens, responding to regulatory pressure. Additionally, the company banned Russian state media like RT from its platforms, citing concerns over their operations.
5. Tesla (Nasdaq: TSLA)
Tesla gained mildly by 0.48%. Tesla's latest FSD update includes a wheel path visualization feature, enhancing parking experience. Tesla's milestone of producing 100 million 4680 batteries was announced, with CEO Elon Musk congratulating the team. Canaccord Genuity maintains Tesla's buy rating with a target of $254.00.
6. Apple (Nasdaq: AAPL)
Apple gained mildly by 0.22%. Apple launched iOS 18, compatible with 24 models, alongside the iPhone 16 series. Analyst Ming-Chi Kuo reported iPhone 16's pre-order sales were approximately 37 million units, down 12.7% from the iPhone 15. Apple secured TSMC’s 2nm production capacity.
7. Nvidia (Nasdaq: NVDA)
Nvidia dipped mildly by -1.02%. NVIDIA had a transaction volume of $26.815 billion on September 17, 2024, topping U.S. markets. Wedbush analysts highlighted NVIDIA as a potential AI stock beneficiary if the Federal Reserve cuts rates. On September 16, 2024, NVIDIA disclosed nine insider transactions.
Amazon gained mildly by 1.08%. Amazon's CEO announced a new management initiative, requiring employees to work in-office five days a week while flattening the organization. Additionally, Intel will custom-make AI chips for Amazon as part of a new collaboration agreement.
2. Microsoft (Nasdaq: MSFT)
Microsoft gained mildly by 0.88%. Microsoft and BlackRock plan a $300 billion AI energy fund for data centers. Morgan Stanley maintained Microsoft's "Overweight" rating with a $506 target. Microsoft approved a $60 billion stock buyback and announced a $0.83 quarterly dividend. They launched new Copilot Pages for AI integration.
3. Alphabet (Nasdaq: GOOG)
Alphabet gained mildly by 0.81%. Google pauses Santiago data center plan, valuing it at $200M, due to environmental concerns. Alphabet A's recent insider trades disclosed. Truist and BMO Capital maintain Alphabet A ratings; Evercore ISI lowers price target to $200.
4. Meta (Nasdaq: META)
Meta gained mildly by 0.57%. Meta Platforms announced new privacy settings for Instagram targeting teens, responding to regulatory pressure. Additionally, the company banned Russian state media like RT from its platforms, citing concerns over their operations.
5. Tesla (Nasdaq: TSLA)
Tesla gained mildly by 0.48%. Tesla's latest FSD update includes a wheel path visualization feature, enhancing parking experience. Tesla's milestone of producing 100 million 4680 batteries was announced, with CEO Elon Musk congratulating the team. Canaccord Genuity maintains Tesla's buy rating with a target of $254.00.
6. Apple (Nasdaq: AAPL)
Apple gained mildly by 0.22%. Apple launched iOS 18, compatible with 24 models, alongside the iPhone 16 series. Analyst Ming-Chi Kuo reported iPhone 16's pre-order sales were approximately 37 million units, down 12.7% from the iPhone 15. Apple secured TSMC’s 2nm production capacity.
7. Nvidia (Nasdaq: NVDA)
Nvidia dipped mildly by -1.02%. NVIDIA had a transaction volume of $26.815 billion on September 17, 2024, topping U.S. markets. Wedbush analysts highlighted NVIDIA as a potential AI stock beneficiary if the Federal Reserve cuts rates. On September 16, 2024, NVIDIA disclosed nine insider transactions.
