Magnificient 7: Meta faces $134B EU antitrust fine

1. Meta (Nasdaq: META)
Meta gained mildly by 2.71%. Meta Platforms faces a potential $134 billion antitrust fine from the EU for allegedly abusing its dominant position by bundling Facebook Marketplace with its social network. Analysts expect Meta’s second-quarter earnings to surpass market expectations, with significant year-on-year advertising revenue growth.

2. Microsoft (Nasdaq: MSFT)
Microsoft gained mildly by 1.64%. Microsoft's trading volume reached $9.993 billion on July 26, ranking third among U.S. stocks. The July 19 "blue screen" event caused flight cancellations globally, but Chinese airlines were unaffected. Microsoft announced updates to Bing and support for developers to fine-tune AI models Phi-3-mini and Phi-3-medium on Azure. Microsoft also invited Windows Insider members to test new wireless file management features for Android phones in Windows 11.

3. Amazon (Nasdaq: AMZN)
Amazon gained mildly by 1.47%. Amazon's trading volume on July 26 was $5.359 billion, down 33.38% from the previous day. Amazon faces a second tax investigation in Italy. BMO Capital and Wedbush maintain outperform ratings on Amazon. Amazon will open on JD.com in late November for Black Friday. Amazon reveals a new AI chip with 50% performance improvement.

4. Nvidia (Nasdaq: NVDA)
Nvidia gained mildly by 0.69%. NVIDIA's trading volume on July 26 was $33.159 billion, ranked first in US stocks but down 35.88% from the previous day. Morgan Stanley forecasts NVIDIA's Blackwell "GB200" AI server orders alone will generate $21 million in annual revenue.

5. Apple (Nasdaq: AAPL)
Apple gained mildly by 0.22%. Apple COO Jeff Williams visited Guangdong suppliers, including Foxconn and Lens Technology, and Shenzhen's new research lab. Apple's iPhone prices in India dropped by up to 4% due to reduced import taxes. Raymond James raised Apple's price target to $250. Apple joined the U.S. AI safety initiative.

6. Tesla (Nasdaq: TSLA)
Tesla dipped mildly by -0.20%. Tesla achieved a daily trading volume of $20.67 billion on July 26, ranked second in the US market. Argus Research reiterated a Buy rating on Tesla. KGI Securities downgraded Tesla to Neutral with a $236 price target. Tesla's mid-year report showed $46.801 billion revenue as of June 30, 2024.

7. Alphabet (Nasdaq: GOOG)
Alphabet dipped mildly by -0.28%. JPMorgan raises Alphabet's target price to $208, citing strong Q2 results and ongoing advancements in GenAI. Israeli cybersecurity company Wiz rejects Alphabet's $23 billion acquisition offer, opting instead for a direct IPO. Google's AI answered an IMO geometry question in 19 seconds.