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Magnificient 7: TSLA surged 5%, Musk Speculated to Attend Bitcoin Conference

AInvestMonday, Jul 22, 2024 7:00 pm ET
1min read
1. Tesla (Nasdaq: TSLA)
Tesla gained solidly by 5.15%. Tesla CEO Elon Musk is speculated to attend an upcoming Bitcoin conference in Nashville. Cantor Fitzgerald reaffirmed Tesla’s “Overweight” rating with a price target of $230. Analysts expect Q2 revenue of $24.7 billion and EPS of $0.62. 68% of investors favor Tesla's AI business over EVs.

2. Nvidia (Nasdaq: NVDA)
Nvidia gained solidly by 4.76%. Nvidia's trading volume on July 22 reached $31.067 billion, ranking first among US stocks. Loop Capital maintains a Buy rating with a $175 price target. Nvidia reported Q1 2025 revenue of $26.044 billion and net income of $14.881 billion. Piper Sandler maintains Overweight with a $140 price target.

3. Meta (Nasdaq: META)
Meta gained mildly by 2.23%. Meta's trading volume on July 22 was $5.846 billion, ranking 8th on Nasdaq. Bernstein maintained its Outperform rating on Meta, targeting $575.00. Meta is applying for a patent to replicate Apple's Vision Pro EyeSight feature. Nigeria fined Meta $2.2 billion for data privacy violations.

4. Alphabet (Nasdaq: GOOG)
Alphabet gained mildly by 2.21%. The UK antitrust agency accepted Alphabet Inc's commitments regarding third-party cookies. Alphabet Inc. released a high-precision AI-enhanced weather simulator. Wedbush reiterated an "Outperform" rating for Alphabet Inc. with a target price of $205.00.

5. Microsoft (Nasdaq: MSFT)
Microsoft gained mildly by 1.33%. Microsoft's recent widespread Windows system outage may have caused over $1 billion in economic loss, impacting approximately 8.5 million devices globally. Microsoft quickly released and updated a recovery tool for CrowdStrike-related blue-screen issues and has again shut down some cloud services.

6. Apple (Nasdaq: AAPL)
Apple dipped mildly by -0.16%. Apple's July 22 trading volume was $10.825 billion, ranking fourth in U.S. stocks. Users report mysterious screen grain on Apple M4 iPad Pro, investigation ongoing. Reports indicate Apple TV+ has spent over $20 billion on original content since its 2019 launch, with limited success, prompting budget cuts. Apple iPhone 16 sees NAND Flash supply strain due to high demand.

7. Amazon (Nasdaq: AMZN)
Amazon dipped mildly by -0.32%. Amazon reported Q1 2024 revenue of $143.13 billion, up 12.53%. Amazon is in discussions to acquire Instamart from Swiggy. Bernstein maintains Outperform rating on Amazon, raising target to $215.00. Truist Securities maintains Buy rating, raising target to $230.00. Amazon competes with Warner Bros. Discovery for NBA rights.
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.