Market Movers: Nvidia Leads with 41.79B Volume as Tech Stocks Tumble
Monday, Aug 26, 2024 6:31 pm ET
2min read 1. Nvidia (Nasdaq: NVDA)
Nvidia dipped mildly by -2.25%, with the trading volume of 41.79B. Nvidia will report its Q2 fiscal 2025 financial results on August 28, 2024. Loop Capital reiterates a Buy rating with a target price of $175. Nvidia's Q1 fiscal 2025 revenue was $26.044 billion with a net profit of $14.881 billion.
2. Tesla (Nasdaq: TSLA)
Tesla dropped solidly by -3.23%, with the trading volume of 12.64B. Tesla's electric truck Semi has been officially delivered, heading to the Berlin Gigafactory, and Tesla extends the Model 3/ Y 0-interest loan to September. Tesla also resumes its referral program in the US and meets EU carbon emissions standards.
3. Pdd Holdings (Nasdaq: PDD)
Pdd Holdings plunged by -28.50%, with the trading volume of 10.51B. Pinduoduo's Q2 2024 revenue grew 86% to 971 billion yuan, with a 6% increase in R&D investment. However, the company faces challenges in its global business environment. Macquarie downgraded its rating to neutral amid these concerns. CEO Chen Lei stated no plans for buybacks or dividends.
4. Advanced Micro Devices (Nasdaq: AMD)
Advanced Micro Devices dropped solidly by -3.22%, with the trading volume of 7.55B. Advanced Micro Devices' (AMD) trading volume on August 26, 2024, amounted to $7.546 billion, ranking fourth in U.S. stock markets that day.
5. Apple (Nasdaq: AAPL)
Apple gained mildly by 0.15%, with the trading volume of 6.88B. Apple announces Kevan Parekh as new CFO, replacing Luca Maestri. The company will hold a product launch event on September 9 at Steve Jobs Theater, possibly unveiling iPhone 16 details. Apple to produce 90-110 million units of iPhone 16, with China manufacturing for domestic models.
6. Microsoft (Nasdaq: MSFT)
Microsoft dipped mildly by -0.79%, with the trading volume of 5.43B. Microsoft engineers' salaries revealed; AI department averages $270,000, surpassing other divisions. Edge browser v128.0 released, dropping support for older CPUs. Internal salary data leak confirms AI department’s higher compensation.
7. Super Micromputer (Nasdaq: SMCI)
Super Micromputer plunged by -8.27%, with the trading volume of 5.19B. Advanced Micro Devices reported a trading value of $5.188 billion on August 26, 2024, marking a 57.93% increase from the previous trading day.
8. Meta Platforms (Nasdaq: META)
Meta Platforms dipped mildly by -1.30%, with the trading volume of 4.98B. Meta has ceased development of its next-gen MR headset due to high costs. The company plans to launch the more affordable Quest 3S headset, akin to Google Glass, in September. Additionally, Meta CEO Mark Zuckerberg criticized European AI regulations.
9. Amazon (Nasdaq: AMZN)
Amazon.Com dipped mildly by -0.87%, with the trading volume of 3.92B. Amazon.com announced second-quarter 2024 revenue of $291.29 billion, a 11.29% year-over-year increase, with net profit reaching $239.16 billion. Christoph Hartmann, CEO of Amazon Games, expressed support for the upcoming Nintendo Switch 2. Wells Fargo maintains an overweight rating on Amazon.com, lowering the price target to $225.00.
10. Broadcom (Nasdaq: AVGO)
Broadcom dropped solidly by -4.05%, with the trading volume of 2.97B. Broadcom saw a trading volume of $2.969 billion on August 26, 2024, ranking tenth among US stocks that day. Broadcom's share price fell by over 4% amid a broader decline in technology stocks.
Nvidia dipped mildly by -2.25%, with the trading volume of 41.79B. Nvidia will report its Q2 fiscal 2025 financial results on August 28, 2024. Loop Capital reiterates a Buy rating with a target price of $175. Nvidia's Q1 fiscal 2025 revenue was $26.044 billion with a net profit of $14.881 billion.
2. Tesla (Nasdaq: TSLA)
Tesla dropped solidly by -3.23%, with the trading volume of 12.64B. Tesla's electric truck Semi has been officially delivered, heading to the Berlin Gigafactory, and Tesla extends the Model 3/ Y 0-interest loan to September. Tesla also resumes its referral program in the US and meets EU carbon emissions standards.
3. Pdd Holdings (Nasdaq: PDD)
Pdd Holdings plunged by -28.50%, with the trading volume of 10.51B. Pinduoduo's Q2 2024 revenue grew 86% to 971 billion yuan, with a 6% increase in R&D investment. However, the company faces challenges in its global business environment. Macquarie downgraded its rating to neutral amid these concerns. CEO Chen Lei stated no plans for buybacks or dividends.
4. Advanced Micro Devices (Nasdaq: AMD)
Advanced Micro Devices dropped solidly by -3.22%, with the trading volume of 7.55B. Advanced Micro Devices' (AMD) trading volume on August 26, 2024, amounted to $7.546 billion, ranking fourth in U.S. stock markets that day.
5. Apple (Nasdaq: AAPL)
Apple gained mildly by 0.15%, with the trading volume of 6.88B. Apple announces Kevan Parekh as new CFO, replacing Luca Maestri. The company will hold a product launch event on September 9 at Steve Jobs Theater, possibly unveiling iPhone 16 details. Apple to produce 90-110 million units of iPhone 16, with China manufacturing for domestic models.
6. Microsoft (Nasdaq: MSFT)
Microsoft dipped mildly by -0.79%, with the trading volume of 5.43B. Microsoft engineers' salaries revealed; AI department averages $270,000, surpassing other divisions. Edge browser v128.0 released, dropping support for older CPUs. Internal salary data leak confirms AI department’s higher compensation.
7. Super Micromputer (Nasdaq: SMCI)
Super Micromputer plunged by -8.27%, with the trading volume of 5.19B. Advanced Micro Devices reported a trading value of $5.188 billion on August 26, 2024, marking a 57.93% increase from the previous trading day.
8. Meta Platforms (Nasdaq: META)
Meta Platforms dipped mildly by -1.30%, with the trading volume of 4.98B. Meta has ceased development of its next-gen MR headset due to high costs. The company plans to launch the more affordable Quest 3S headset, akin to Google Glass, in September. Additionally, Meta CEO Mark Zuckerberg criticized European AI regulations.
9. Amazon (Nasdaq: AMZN)
Amazon.Com dipped mildly by -0.87%, with the trading volume of 3.92B. Amazon.com announced second-quarter 2024 revenue of $291.29 billion, a 11.29% year-over-year increase, with net profit reaching $239.16 billion. Christoph Hartmann, CEO of Amazon Games, expressed support for the upcoming Nintendo Switch 2. Wells Fargo maintains an overweight rating on Amazon.com, lowering the price target to $225.00.
10. Broadcom (Nasdaq: AVGO)
Broadcom dropped solidly by -4.05%, with the trading volume of 2.97B. Broadcom saw a trading volume of $2.969 billion on August 26, 2024, ranking tenth among US stocks that day. Broadcom's share price fell by over 4% amid a broader decline in technology stocks.