Massive Trading Volume Shakes Tech Giants: Nvidia, Apple, Tesla, and More Tumble
Monday, Aug 5, 2024 6:31 pm ET
1. Nvidia (Nasdaq: NVDA)
Nvidia plunged by -6.36%, with the trading volume of 54.16B. Nvidia's CEO sold $3.227 billion in stocks in July. Deutsche Bank maintains a Hold rating on Nvidia with a target price of $100. Nvidia's next-gen AI chips face production challenges. Nvidia reported Q1 2025 revenues of $260.44 billion and net profit of $148.81 billion.
2. Apple (Nasdaq: AAPL)
Apple dropped solidly by -4.82%, with the trading volume of 24.43B. Apple's August 5 trading volume reached $24.436 billion. Needham reiterated its Buy rating with a new target price of $260. Apple's Q3 2024 earnings were $296.105 billion in revenue and $79 billion in net profit. Apple Music's user growth has stagnated at 60 million since 2019.
3. Tesla (Nasdaq: TSLA)
Tesla dropped solidly by -4.23%, with the trading volume of 19.53B. Tesla's mid-2024 report shows revenue down 3.02% to $46.8B with net profit unspecified. Cantor Fitzgerald reaffirms neutral rating with $245 target. Court rules in Tesla's favor in the brake incident defamation case. Elon Musk revives lawsuit against OpenAI. Sources indicate a new Model Y might have a 95 kWh battery.
4. Microsoft (Nasdaq: MSFT)
Microsoft dropped solidly by -3.27%, with the trading volume of 15.64B. Microsoft's trading volume on August 5, 2024, was $15.643 billion, ranking fourth in US markets. Pre-market, Microsoft's stock dropped over 6% amid global market downturns. Elon Musk seeks judicial invalidation of OpenAI's license to Microsoft.
5. Amazon (Nasdaq: AMZN)
Amazon.Com dropped solidly by -4.10%, with the trading volume of 13.23B. Amazon reported a transaction by insider Herrington Douglas J, who sold 3,500 shares on August 1, 2024. Additionally, Amazon was listed second on the 2024 Fortune Global 500 rankings, marking its significant position within the global corporate landscape.
6. Meta Platforms (Nasdaq: META)
Meta Platforms dipped mildly by -2.54%, with the trading volume of 10.04B. Meta plans to release Llama 4 in 2025, with significant investment in AI development involving 240,000 GPUs. Additionally, Meta has patented a new AR rendering technique using wireless signature data to improve SLAM.
7. Advanced Micro Devices (Nasdaq: AMD)
Advanced Micro Devices gained mildly by 1.75%, with the trading volume of 9.96B. AMD's Ryzen 9 9900X processor revealed slightly outperforming the 14700K in PassMark scores. Industry anticipates AMD might follow Qualcomm in reducing prices on AI PCs next year, potentially triggering a wave of upgrades due to lower costs.
8. Alphabet (Nasdaq: GOOGL)
Alphabet dropped solidly by -4.45%, with the trading volume of 8.56B. A U.S. federal judge ruled Alphabet Inc.'s Google guilty of illegally maintaining online search monopoly. Google plans to appeal, arguing payments to secure its search engine as the default violated antitrust laws. This landmark decision could alter major tech companies' operations.
9. Broadcom (Nasdaq: AVGO)
Broadcom dipped mildly by -1.21%, with the trading volume of 5.75B. Broadcom reported a trading volume of $5.747 billion on August 5, 2024, making it the 9th highest among U.S. stocks for the day.
10. Alphabet (Nasdaq: GOOG)
Alphabet dropped solidly by -4.61%, with the trading volume of 5.62B. A U.S. federal judge ruled Alphabet Inc.'s Google illegally maintained its online search monopoly. Google plans to appeal the decision, which critiques its payments to ensure its search engine as the default on smartphones and browsers.
Nvidia plunged by -6.36%, with the trading volume of 54.16B. Nvidia's CEO sold $3.227 billion in stocks in July. Deutsche Bank maintains a Hold rating on Nvidia with a target price of $100. Nvidia's next-gen AI chips face production challenges. Nvidia reported Q1 2025 revenues of $260.44 billion and net profit of $148.81 billion.
2. Apple (Nasdaq: AAPL)
Apple dropped solidly by -4.82%, with the trading volume of 24.43B. Apple's August 5 trading volume reached $24.436 billion. Needham reiterated its Buy rating with a new target price of $260. Apple's Q3 2024 earnings were $296.105 billion in revenue and $79 billion in net profit. Apple Music's user growth has stagnated at 60 million since 2019.
3. Tesla (Nasdaq: TSLA)
Tesla dropped solidly by -4.23%, with the trading volume of 19.53B. Tesla's mid-2024 report shows revenue down 3.02% to $46.8B with net profit unspecified. Cantor Fitzgerald reaffirms neutral rating with $245 target. Court rules in Tesla's favor in the brake incident defamation case. Elon Musk revives lawsuit against OpenAI. Sources indicate a new Model Y might have a 95 kWh battery.
4. Microsoft (Nasdaq: MSFT)
Microsoft dropped solidly by -3.27%, with the trading volume of 15.64B. Microsoft's trading volume on August 5, 2024, was $15.643 billion, ranking fourth in US markets. Pre-market, Microsoft's stock dropped over 6% amid global market downturns. Elon Musk seeks judicial invalidation of OpenAI's license to Microsoft.
5. Amazon (Nasdaq: AMZN)
Amazon.Com dropped solidly by -4.10%, with the trading volume of 13.23B. Amazon reported a transaction by insider Herrington Douglas J, who sold 3,500 shares on August 1, 2024. Additionally, Amazon was listed second on the 2024 Fortune Global 500 rankings, marking its significant position within the global corporate landscape.
6. Meta Platforms (Nasdaq: META)
Meta Platforms dipped mildly by -2.54%, with the trading volume of 10.04B. Meta plans to release Llama 4 in 2025, with significant investment in AI development involving 240,000 GPUs. Additionally, Meta has patented a new AR rendering technique using wireless signature data to improve SLAM.
7. Advanced Micro Devices (Nasdaq: AMD)
Advanced Micro Devices gained mildly by 1.75%, with the trading volume of 9.96B. AMD's Ryzen 9 9900X processor revealed slightly outperforming the 14700K in PassMark scores. Industry anticipates AMD might follow Qualcomm in reducing prices on AI PCs next year, potentially triggering a wave of upgrades due to lower costs.
8. Alphabet (Nasdaq: GOOGL)
Alphabet dropped solidly by -4.45%, with the trading volume of 8.56B. A U.S. federal judge ruled Alphabet Inc.'s Google guilty of illegally maintaining online search monopoly. Google plans to appeal, arguing payments to secure its search engine as the default violated antitrust laws. This landmark decision could alter major tech companies' operations.
9. Broadcom (Nasdaq: AVGO)
Broadcom dipped mildly by -1.21%, with the trading volume of 5.75B. Broadcom reported a trading volume of $5.747 billion on August 5, 2024, making it the 9th highest among U.S. stocks for the day.
10. Alphabet (Nasdaq: GOOG)
Alphabet dropped solidly by -4.61%, with the trading volume of 5.62B. A U.S. federal judge ruled Alphabet Inc.'s Google illegally maintained its online search monopoly. Google plans to appeal the decision, which critiques its payments to ensure its search engine as the default on smartphones and browsers.