Magnificient 7: NVDA Becomes Most Valuable as Tesla's Revenue Climbs

1. Tesla (Nasdaq: TSLA)
Tesla gained solidly by 3.34%. Tesla's 2024 Q3 revenue was $71.983 billion, up 0.53% yoy. The U.S. appeals court ruled Elon Musk's union-related tweets were not threats. Tesla Model 2 launches next year. Truist, Guggenheim, and Cantor Fitzgerald maintain varied ratings and target prices.

2. Alphabet (Nasdaq: GOOG)
Alphabet gained mildly by 1.50%. Alphabet Inc.'s Google agreed to provide AI documents to the US Department of Justice post-antitrust ruling. The UK initiated a formal investigation into Google's investment in AI startup Anthropic. Google Photos will indicate AI-edited images starting next week to enhance transparency.

3. Meta (Nasdaq: META)
Meta gained mildly by 0.96%. Meta Platforms will use Reuters' news content for its AI chatbot to answer user queries. Bernstein maintains an "Outperform" rating with a $675 target. Meta increases Quest ads and sponsors Wrexham FC. Insider sale disclosed by executive Newstead Jennifer occurred on October 22, 2024.

4. Microsoft (Nasdaq: MSFT)
Microsoft gained mildly by 0.81%. Microsoft CEO Satya Nadella's 2024 total compensation rose to $79.1 million, up 63% from the previous year. Bernstein maintained an outperform rating for Microsoft with a target price of $500.00.

5. Nvidia (Nasdaq: NVDA)
Nvidia gained mildly by 0.80%. NVIDIA surpassed Apple as the world's most valuable company. CEO Jensen Huang discussed AI infrastructure investments with Mukesh Ambani at Mumbai's NVIDIA AI Summit. NVIDIA and Reliance Group will build AI infrastructure in India using NVIDIA’s latest Blackwell GPU chips.

6. Amazon (Nasdaq: AMZN)
Amazon gained mildly by 0.78%. Amazon's Global Grocery Stores SVP Hoggett leaves; Amazon launches eero Outdoor 7 router for outdoor use, priced at $349.99; Amazon faces challenges in building AI data centers due to resource constraints; plans to close Amazon Today same-day service, affecting 175 employees.

7. Apple (Nasdaq: AAPL)
Apple gained mildly by 0.36%. Apple's iPhone 16 faces production cuts; iPad mini 8 may upgrade to OLED. iPhone SE 4 potentially launches next year; iPhone 17 Pro to enhance features. Nvidia surpasses Apple as the most valuable company. KeyBanc downgrades Apple, questioning 2025 growth projections.