Magnificient 7: Tesla relocates HQ to Texas
Tuesday, Jul 16, 2024 7:00 pm ET
TSLA --
1. Tesla (Nasdaq: TSLA)
Tesla gained mildly by 1.55%. Tesla is relocating its headquarters to Texas. The Shanghai energy storage factory will be completed by 2025 as per Tao Lin, VP of Tesla Global. Tesla is hiring nearly 800 new employees specializing in AI and robotics. Tesla's autonomous taxi release has been delayed for design revisions.
2. Apple (Nasdaq: AAPL)
Apple gained mildly by 0.18%. On July 16, Apple achieved a transaction volume of $10.11 billion, ranking third in the US stock market for the day. Morgan Stanley raised Apple's target price, citing strong iPhone sales projections. Apple is also under investigation in India and experiencing mixed reactions to Vision Pro.
3. Amazon (Nasdaq: AMZN)
Amazon gained mildly by 0.16%. Amazon reported $65.77 billion in sales on July 16, ranking 7th in US trading. Benchmark reiterated its Buy rating with a $200 price target. Bezos sold $80.8 million worth of Amazon stock. Wolfe Research initiates coverage with an Outperform rating and a $250 price target. Prime Day sales projected to hit $14 billion.
4. Microsoft (Nasdaq: MSFT)
Microsoft dipped mildly by -0.98%. Microsoft's reported trading volume on July 16 was $7.7 billion, ranking fourth in U.S. markets; Wedbush predicts Microsoft will excel in Q2 earnings; Mizuho maintains an Outperform rating with a $480 price target; UK investigates Microsoft-Inflection AI transaction.
5. Meta (Nasdaq: META)
Meta dipped mildly by -1.28%. Meta's trading volume on July 16, 2024, was $6.893 billion, ranking sixth in the US stock market. Wolfe Research initiated coverage on Meta with an Outperform rating and a $620 price target. On July 15, 2024, Meta disclosed 34 insider transactions. Meta lifted restrictions on Donald Trump's account to ensure equal expression for presidential candidates.
6. Alphabet (Nasdaq: GOOG)
Alphabet dipped mildly by -1.43%. On July 16, Alphabet C's trading volume was $2.378 billion. Argus Research reaffirmed its Buy rating on Alphabet A, setting a new price target of $215.00. Wolfe Research initiated coverage on Alphabet A with an Outperform rating and a $240.00 price target. Alphabet is in talks to acquire cybersecurity startup Wiz for about $23 billion.
7. Nvidia (Nasdaq: NVDA)
Nvidia dipped mildly by -1.62%. NVIDIA's trading volume on July 16 was $27.058 billion, ranking second on the U.S. stock market for the day. NVIDIA Research will showcase advancements in AI simulations and generative technologies at SIGGRAPH 2024. French competition authorities are investigating NVIDIA for alleged anti-competitive behavior. NVIDIA's next-gen RTX 5090D graphics card is expected in January 2025.
Tesla gained mildly by 1.55%. Tesla is relocating its headquarters to Texas. The Shanghai energy storage factory will be completed by 2025 as per Tao Lin, VP of Tesla Global. Tesla is hiring nearly 800 new employees specializing in AI and robotics. Tesla's autonomous taxi release has been delayed for design revisions.
2. Apple (Nasdaq: AAPL)
Apple gained mildly by 0.18%. On July 16, Apple achieved a transaction volume of $10.11 billion, ranking third in the US stock market for the day. Morgan Stanley raised Apple's target price, citing strong iPhone sales projections. Apple is also under investigation in India and experiencing mixed reactions to Vision Pro.
3. Amazon (Nasdaq: AMZN)
Amazon gained mildly by 0.16%. Amazon reported $65.77 billion in sales on July 16, ranking 7th in US trading. Benchmark reiterated its Buy rating with a $200 price target. Bezos sold $80.8 million worth of Amazon stock. Wolfe Research initiates coverage with an Outperform rating and a $250 price target. Prime Day sales projected to hit $14 billion.
4. Microsoft (Nasdaq: MSFT)
Microsoft dipped mildly by -0.98%. Microsoft's reported trading volume on July 16 was $7.7 billion, ranking fourth in U.S. markets; Wedbush predicts Microsoft will excel in Q2 earnings; Mizuho maintains an Outperform rating with a $480 price target; UK investigates Microsoft-Inflection AI transaction.
5. Meta (Nasdaq: META)
Meta dipped mildly by -1.28%. Meta's trading volume on July 16, 2024, was $6.893 billion, ranking sixth in the US stock market. Wolfe Research initiated coverage on Meta with an Outperform rating and a $620 price target. On July 15, 2024, Meta disclosed 34 insider transactions. Meta lifted restrictions on Donald Trump's account to ensure equal expression for presidential candidates.
6. Alphabet (Nasdaq: GOOG)
Alphabet dipped mildly by -1.43%. On July 16, Alphabet C's trading volume was $2.378 billion. Argus Research reaffirmed its Buy rating on Alphabet A, setting a new price target of $215.00. Wolfe Research initiated coverage on Alphabet A with an Outperform rating and a $240.00 price target. Alphabet is in talks to acquire cybersecurity startup Wiz for about $23 billion.
7. Nvidia (Nasdaq: NVDA)
Nvidia dipped mildly by -1.62%. NVIDIA's trading volume on July 16 was $27.058 billion, ranking second on the U.S. stock market for the day. NVIDIA Research will showcase advancements in AI simulations and generative technologies at SIGGRAPH 2024. French competition authorities are investigating NVIDIA for alleged anti-competitive behavior. NVIDIA's next-gen RTX 5090D graphics card is expected in January 2025.