Magnificient 7: TSLA gained 3.80%, plans RoboTaxi launch
Generated by AI AgentAinvest Market Brief
Friday, Aug 30, 2024 7:00 pm ET1min read
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1. Tesla (Nasdaq: TSLA)
Tesla gained solidly by 3.80%. Tesla plans to launch RoboTaxi at Warner Bros Studio in California. William Blair initiated coverage on Tesla with an outperform rating. Tesla reported H1 2024 revenue of $46.8 billion and net profit of $2.64 billion. Tesla is recalling 870 imported Model X vehicles due to roof trim safety concerns. Elon Musk and Tesla won the Dogecoin manipulation lawsuit.
2. Amazon (Nasdaq: AMZN)
Amazon gained solidly by 3.71%. Amazon's trading volume on August 30 was $7.611 billion, reflecting a 66.79% increase. Amazon's new Alexa will be primarily supported by Anthropic's Claude AI model. Amazon launched generative AI in Australia and secured land in New Zealand for its satellite internet project.
3. Nvidia (Nasdaq: NVDA)
Nvidia gained mildly by 1.51%. NVIDIA traded $39.64 billion on August 30, ranking first in US stocks. Bernstein maintained NVIDIA's rating as outperform with a target price of $155. NVIDIA's 2025 Q2 revenue was $30 billion, a 122% increase. NVIDIA and Apple are discussing investing in OpenAI, potentially valuing it over $100 billion.
4. Alphabet (Nasdaq: GOOG)
Alphabet gained mildly by 1.05%. Alphabet C had a trading volume of $3.043 billion on August 30, 2024, ranking 16th in the US market. Needham reaffirmed its Buy rating for Alphabet A with a target price of $210.00. Google plans to build a large-scale data center in Vietnam.
5. Microsoft (Nasdaq: MSFT)
Microsoft gained mildly by 0.97%. Microsoft revealed specifications for its AI-specific Maia 100 chip at the Hot Chip 2024 conference. Microsoft, Nvidia, and Apple are reportedly in talks for OpenAI's new funding round, potentially valuing OpenAI over $100 billion. Microsoft plans to discontinue the Action Pack to encourage cloud migration by January 2025.
6. Meta (Nasdaq: META)
Meta gained mildly by 0.60%. Meta will cease support for the original Quest VR headset starting August 31 and is developing new VR/AR glasses. AI model Llama, adopted by companies like Goldman Sachs, has nearly 3.5 billion downloads. Meta disclosed insider trading transactions on August 29 and has reportedly cut in-house AR/VR chip projects.
7. Apple (Nasdaq: AAPL)
Apple dipped mildly by -0.34%. Apple's rumored iPhone 16 Pro Max, set to debut in copper titanium, will drop the blue titanium option. Apple is in talks with Nvidia to invest in OpenAI. Additionally, new immersive video content is coming to Apple Vision Pro, including a short film on September 6.
Tesla gained solidly by 3.80%. Tesla plans to launch RoboTaxi at Warner Bros Studio in California. William Blair initiated coverage on Tesla with an outperform rating. Tesla reported H1 2024 revenue of $46.8 billion and net profit of $2.64 billion. Tesla is recalling 870 imported Model X vehicles due to roof trim safety concerns. Elon Musk and Tesla won the Dogecoin manipulation lawsuit.
2. Amazon (Nasdaq: AMZN)
Amazon gained solidly by 3.71%. Amazon's trading volume on August 30 was $7.611 billion, reflecting a 66.79% increase. Amazon's new Alexa will be primarily supported by Anthropic's Claude AI model. Amazon launched generative AI in Australia and secured land in New Zealand for its satellite internet project.
3. Nvidia (Nasdaq: NVDA)
Nvidia gained mildly by 1.51%. NVIDIA traded $39.64 billion on August 30, ranking first in US stocks. Bernstein maintained NVIDIA's rating as outperform with a target price of $155. NVIDIA's 2025 Q2 revenue was $30 billion, a 122% increase. NVIDIA and Apple are discussing investing in OpenAI, potentially valuing it over $100 billion.
4. Alphabet (Nasdaq: GOOG)
Alphabet gained mildly by 1.05%. Alphabet C had a trading volume of $3.043 billion on August 30, 2024, ranking 16th in the US market. Needham reaffirmed its Buy rating for Alphabet A with a target price of $210.00. Google plans to build a large-scale data center in Vietnam.
5. Microsoft (Nasdaq: MSFT)
Microsoft gained mildly by 0.97%. Microsoft revealed specifications for its AI-specific Maia 100 chip at the Hot Chip 2024 conference. Microsoft, Nvidia, and Apple are reportedly in talks for OpenAI's new funding round, potentially valuing OpenAI over $100 billion. Microsoft plans to discontinue the Action Pack to encourage cloud migration by January 2025.
6. Meta (Nasdaq: META)
Meta gained mildly by 0.60%. Meta will cease support for the original Quest VR headset starting August 31 and is developing new VR/AR glasses. AI model Llama, adopted by companies like Goldman Sachs, has nearly 3.5 billion downloads. Meta disclosed insider trading transactions on August 29 and has reportedly cut in-house AR/VR chip projects.
7. Apple (Nasdaq: AAPL)
Apple dipped mildly by -0.34%. Apple's rumored iPhone 16 Pro Max, set to debut in copper titanium, will drop the blue titanium option. Apple is in talks with Nvidia to invest in OpenAI. Additionally, new immersive video content is coming to Apple Vision Pro, including a short film on September 6.
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