Nvidia and Tesla Soar with Massive Trading Volumes, CrowdStrike Plummets
Market BriefMonday, Jul 22, 2024 6:31 pm ET

1. Nvidia (Nasdaq: NVDA)
Nvidia gained solidly by 4.76%, with the trading volume of 31.10B. Nvidia's revenue for the quarter ending April 28, 2024, was $260.44 billion, with net income of $148.81 billion. Loop Capital and Piper Sandler both maintain buy ratings on Nvidia, with price targets of $175 and $140, respectively. Samsung starts mass production of HBM3 memory for Nvidia.
2. Tesla (Nasdaq: TSLA)
Tesla gained solidly by 5.15%, with the trading volume of 25.09B. Tesla CEO Elon Musk is speculated to attend a Bitcoin conference in Nashville. Cantor Fitzgerald reaffirms Tesla's "Overweight" rating with a $230 target price. Analysts predict Tesla Q2 2024 revenue at $24.7 billion. Tesla's AI business seen as a key future driver by 68% of investors.
3. Crowdstrike Holdings (Nasdaq: CRWD)
Crowdstrike Holdings plunged by -13.46%, with the trading volume of 13.27B. CrowdStrike Holdings experienced significant downgrades by Guggenheim and BTIG to neutral, following the "blue screen" incident affecting 8.5 million devices. Piper Sandler maintained its neutral rating with a target price of $310. The company launched a Remediation and Guidance Hub to address the issues.
4. Apple (Nasdaq: AAPL)
Apple dipped mildly by -0.16%, with the trading volume of 10.52B. Apple is investigating an issue with the M4 iPad Pro screen displaying unidentified particles. Reports indicate Apple TV+ has spent over $20 billion since 2019 but with minimal gains, prompting budget cuts. Apple is scheduled to release its Q3 financial results on August 2.
5. Amazon (Nasdaq: AMZN)
Amazon.Com dipped mildly by -0.32%, with the trading volume of 7.03B. Amazon.com's July 22 trading volume reached $7.313 billion. Amazon is competing with Warner Bros. Discovery for NBA broadcasting rights. Bernstein and Truist Securities maintain outperform and buy ratings respectively on Amazon, with target prices of $215 and $230. Amazon is in talk with Swiggy to acquire Instamart.
6. Microsoft (Nasdaq: MSFT)
Microsoft gained mildly by 1.33%, with the trading volume of 6.97B. Microsoft reported a system fault affecting around 8.5 million global devices. Microsoft released a Wolverine-themed Xbox controller due to high fan demand. Microsoft paused its simplified Windows 11 tray push. The company updated a restoration tool after CrowdStrike glitches led to significant issues.
7. Advanced Micro Devices (Nasdaq: AMD)
Advanced Micro Devices gained mildly by 2.83%, with the trading volume of 6.74B. AMD is set to release its RDNA4 graphics card with improved ray tracing performance. SoftBank and AMD are accelerating AI chip acquisitions, increasing pressure on NVIDIA. Samsung Electro-Mechanics will supply high-performance FCBGA substrates to AMD for large-scale data centers. AMD Ryzen AI 9 HX 370 outperforms Intel i7-14700HX in benchmarks.
8. Meta Platforms (Nasdaq: META)
Meta Platforms gained mildly by 2.23%, with the trading volume of 5.85B. Meta received a $2.2 billion fine from Nigeria's antitrust agency for data and privacy law violations. Bernstein maintains an Outperform rating on Meta, raising the price target to $575. Meta filed a patent to replicate Apple's Vision Pro "EyeSight" feature in its VR headsets.
9. Alphabet (Nasdaq: GOOGL)
Alphabet gained mildly by 2.26%, with the trading volume of 4.36B. The UK's competition authority accepted Google's commitments on third-party cookie usage. Google developed a high-precision AI-enhanced weather simulator. Wedbush reiterated its outperform rating for Alphabet A with a target price of $205. Alphabet A reported Q1 2024 revenue of $80.54 billion and net profit of $23.66 billion.
10. Broadcom (Nasdaq: AVGO)
Broadcom gained mildly by 2.36%, with the trading volume of 4.33B. Broadcom's trading volume on July 22, 2024, reached $4.617 billion, ranking 9th in the US stock market for the day.
Nvidia gained solidly by 4.76%, with the trading volume of 31.10B. Nvidia's revenue for the quarter ending April 28, 2024, was $260.44 billion, with net income of $148.81 billion. Loop Capital and Piper Sandler both maintain buy ratings on Nvidia, with price targets of $175 and $140, respectively. Samsung starts mass production of HBM3 memory for Nvidia.
2. Tesla (Nasdaq: TSLA)
Tesla gained solidly by 5.15%, with the trading volume of 25.09B. Tesla CEO Elon Musk is speculated to attend a Bitcoin conference in Nashville. Cantor Fitzgerald reaffirms Tesla's "Overweight" rating with a $230 target price. Analysts predict Tesla Q2 2024 revenue at $24.7 billion. Tesla's AI business seen as a key future driver by 68% of investors.
3. Crowdstrike Holdings (Nasdaq: CRWD)
Crowdstrike Holdings plunged by -13.46%, with the trading volume of 13.27B. CrowdStrike Holdings experienced significant downgrades by Guggenheim and BTIG to neutral, following the "blue screen" incident affecting 8.5 million devices. Piper Sandler maintained its neutral rating with a target price of $310. The company launched a Remediation and Guidance Hub to address the issues.
4. Apple (Nasdaq: AAPL)
Apple dipped mildly by -0.16%, with the trading volume of 10.52B. Apple is investigating an issue with the M4 iPad Pro screen displaying unidentified particles. Reports indicate Apple TV+ has spent over $20 billion since 2019 but with minimal gains, prompting budget cuts. Apple is scheduled to release its Q3 financial results on August 2.
5. Amazon (Nasdaq: AMZN)
Amazon.Com dipped mildly by -0.32%, with the trading volume of 7.03B. Amazon.com's July 22 trading volume reached $7.313 billion. Amazon is competing with Warner Bros. Discovery for NBA broadcasting rights. Bernstein and Truist Securities maintain outperform and buy ratings respectively on Amazon, with target prices of $215 and $230. Amazon is in talk with Swiggy to acquire Instamart.
6. Microsoft (Nasdaq: MSFT)
Microsoft gained mildly by 1.33%, with the trading volume of 6.97B. Microsoft reported a system fault affecting around 8.5 million global devices. Microsoft released a Wolverine-themed Xbox controller due to high fan demand. Microsoft paused its simplified Windows 11 tray push. The company updated a restoration tool after CrowdStrike glitches led to significant issues.
7. Advanced Micro Devices (Nasdaq: AMD)
Advanced Micro Devices gained mildly by 2.83%, with the trading volume of 6.74B. AMD is set to release its RDNA4 graphics card with improved ray tracing performance. SoftBank and AMD are accelerating AI chip acquisitions, increasing pressure on NVIDIA. Samsung Electro-Mechanics will supply high-performance FCBGA substrates to AMD for large-scale data centers. AMD Ryzen AI 9 HX 370 outperforms Intel i7-14700HX in benchmarks.
8. Meta Platforms (Nasdaq: META)
Meta Platforms gained mildly by 2.23%, with the trading volume of 5.85B. Meta received a $2.2 billion fine from Nigeria's antitrust agency for data and privacy law violations. Bernstein maintains an Outperform rating on Meta, raising the price target to $575. Meta filed a patent to replicate Apple's Vision Pro "EyeSight" feature in its VR headsets.
9. Alphabet (Nasdaq: GOOGL)
Alphabet gained mildly by 2.26%, with the trading volume of 4.36B. The UK's competition authority accepted Google's commitments on third-party cookie usage. Google developed a high-precision AI-enhanced weather simulator. Wedbush reiterated its outperform rating for Alphabet A with a target price of $205. Alphabet A reported Q1 2024 revenue of $80.54 billion and net profit of $23.66 billion.
10. Broadcom (Nasdaq: AVGO)
Broadcom gained mildly by 2.36%, with the trading volume of 4.33B. Broadcom's trading volume on July 22, 2024, reached $4.617 billion, ranking 9th in the US stock market for the day.
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