Magnificient 7: NVDA gains 3.37%, expands AI partnership with Accenture

1. Nvidia (Nasdaq: NVDA)
Nvidia gained solidly by 3.37%. NVIDIA insiders have sold over $18 billion in stock this year, with more sales expected. NVIDIA has also expanded its partnership with Accenture to promote AI adoption, creating a dedicated NVIDIA business unit. Additionally, NVIDIA has paused development of the dual-cabinet GB200AI server.

2. Meta (Nasdaq: META)
Meta gained mildly by 1.74%. Meta Platforms faces criticism from Revolut for its fraud prevention measures, prompting calls for victim compensation. Privacy concerns arise over Meta's smart glasses with facial recognition. Wells Fargo maintains an overweight rating, setting a $652 price target. An insider transaction was disclosed on October 1.

3. Alphabet (Nasdaq: GOOG)
Alphabet dipped mildly by -0.06%. Alphabet collaborates with BioNTech on AI lab assistant, prepares to release Android 16 earlier, updates Gmail to send card-type messages, and focuses on developing reasoning AI to compete with OpenAI.

4. Microsoft (Nasdaq: MSFT)
Microsoft dipped mildly by -0.14%. Microsoft is accused of unfair competition regarding its Edge browser by rivals urging EU antitrust scrutiny. Microsoft plans to invest €4.3 billion in AI and expand cloud computing in Italy. The company is investing $750 million in OpenAI and aims to improve Xbox developer relations.

5. Apple (Nasdaq: AAPL)
Apple dipped mildly by -0.49%. Bank of America Securities reiterated its Buy rating on Apple with a price target of $256. CEO Tim Cook sold over 220,000 shares, netting $50 million. Apple's Q3 revenue was $296.1 billion with $79 billion net profit. iPhone 16 faces a 3 million unit cut due to poor sales.

6. Amazon (Nasdaq: AMZN)
Amazon dipped mildly by -1.52%. Morgan Stanley reiterates an overweight rating on Amazon.com with a target price of $210. Xbox co-founder joins Amazon as Vice President of the Devices and Services team.

7. Tesla (Nasdaq: TSLA)
Tesla dropped solidly by -3.36%. Tesla's Q3 deliveries underperformed expectations despite incentives. Truist maintains a "Hold" with a $236 target. Bernstein reiterates "Underperform" with a $120 target. Tesla plans four new batteries by 2026, including one for Robotaxi, as Model Y's market dominance faces challenges.