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Magnificient 7: TSLA China Sales Surge, DOJ Eyes Google Sanctions
AInvestWednesday, Oct 9, 2024 7:00 pm ET
1min read
AAPL --
PIPR --
1. Apple (Nasdaq: AAPL)
Apple gained mildly by 1.67%. Apple's large-screen iPhone has been discontinued. Piper Sandler reaffirmed its neutral rating with a $225 target price. Ming-Chi Kuo reported stable iPhone 16 assembly orders with minor component adjustments post-November. Apple remains dominant in the teen market with 87% owning an iPhone. Apple experienced a 24% drop in Q3 PC shipments globally.

2. Amazon (Nasdaq: AMZN)
Amazon gained mildly by 1.34%. Amazon faces increased competition impacting growth, prompting Wells Fargo to downgrade its rating to Equal Weight with a $183 price target. Meanwhile, Amazon plans to deploy 1,000 electric delivery vehicles and won a legal case in China against unjust competitive practices. Cantor Fitzgerald maintains an Overweight rating.

3. Microsoft (Nasdaq: MSFT)
Microsoft gained mildly by 0.66%. Microsoft partnered with EduTech company Doushen AI, leveraging GraphRAG for digital transformation. It plans to update Windows 11 Outlook for offline use, acquired NVIDIA's GB200 AI servers, and sees Edge testing Copilot Vision. Oppenheimer downgraded its stock rating due to AI earnings concerns.

4. Nvidia (Nasdaq: NVDA)
Nvidia dipped mildly by -0.18%. NVIDIA CEO Jensen Huang emphasized the need to reduce computing costs for AI to progress in "inference" capabilities. Despite NVIDIA's recent gains, semiconductor stocks have underperformed the S&P 500 this month. Impax Asset Management believes NVIDIA remains undervalued.

5. Meta (Nasdaq: META)
Meta dipped mildly by -0.40%. Meta Platforms Inc. will release its Q3 2024 earnings on October 30. Keybanc maintains an overweight rating with a price target of $655.00. The company is expanding its AI chatbot to 21 new markets and enhancing video ad formats on Facebook.

6. Tesla (Nasdaq: TSLA)
Tesla dipped mildly by -1.41%. Tesla achieved significant growth in China, with September sales rising 19.2% year-on-year, driven by strong Model 3 and Model Y performances. However, their Robotaxi mass production is expected to start in Q1 2027, despite optimistic investor expectations.

7. Alphabet (Nasdaq: GOOG)
Alphabet dipped mildly by -1.59%. The US Department of Justice proposes potential sanctions on Google for illegal monopolistic practices, including the divestment of Chrome and Android. BMO Capital reiterates an "Outperform" rating on Alphabet A with a price target of $215.00. Google DeepMind's Hassabis wins Nobel Prize in Chemistry.
Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.