Magnificient 7: TSLA dropped 3.10%, UAW accuses Musk of labor violations

1. Nvidia (Nasdaq: NVDA)
Nvidia gained mildly by 1.67%. HHLR Advisors disclosed its Q2 2024 holdings, showing significant increases in Alibaba, NetEase, and Trip.com, with reductions in Pinduoduo and KE Holdings. Pinduoduo remains the top holding. The firm holds 78 stocks, with a total market value of $40.54 billion.

2. Microsoft (Nasdaq: MSFT)
Microsoft gained mildly by 0.69%. HHLR Advisors disclosed its Q2 2024 U.S. equity holdings with a market value of $4.54 billion. Key moves include increasing stakes in Alibaba, Vipshop, NetEase, and Trip.com, while reducing positions in Pinduoduo and KE Holdings.

3. Apple (Nasdaq: AAPL)
Apple gained mildly by 0.20%. Apple announced that it will open the iPhone's NFC chip to developers for contactless data exchange without requiring Apple Pay. Buffet's Berkshire Hathaway significantly reduced its Apple holdings in Q2 and cleared its Snowflake position. HHLR Advisors increased Alibaba holdings, now their third-largest position.

4. Amazon (Nasdaq: AMZN)
Amazon dipped mildly by -0.08%. HHLR Advisors under Hillhouse Capital disclosed its Q2 2024 US stock holdings. Top ten include Pinduoduo, which remains its largest holding despite a 2.9M share reduction. Significant increases were seen in Alibaba by 5.24M shares and Vipshop by 14.61M shares, among others.

5. Meta (Nasdaq: META)
Meta dipped mildly by -0.34%. Meta disclosed 39 insider transactions on August 12, with Zuckerberg selling 2,406 shares on August 9. The company signed a new licensing agreement with Universal Music Group to address AI music concerns and announced deeper collaboration. Notable figures are suing Meta over unauthorized use of their images in ads.

6. Alphabet (Nasdaq: GOOG)
Alphabet dipped mildly by -2.35%. Hillhouse Capital's HHLR Advisors significantly increased its Alibaba holdings by 5.24 million shares in Q2, making it the third-largest position, while selling 2.9 million shares of Pinduoduo. HHLR also added Vipshop, NetEase, and Ctrip shares, and reduced Beike holdings by over 6 million shares.

7. Tesla (Nasdaq: TSLA)
Tesla dropped solidly by -3.10%. Tesla's trading volume on August 14 was $14.075 billion, ranking second on the US market. Truist Securities maintained its hold rating on Tesla with a target price of $215.00. Goldman Sachs downgraded Tesla's target price from $248 to $230, maintaining a neutral rating. UAW accused Elon Musk of labor violations.