Nvidia Dominates Market with High Trading Volume Amid Legal Challenges
Monday, Sep 9, 2024 6:31 pm ET
2min read 1. Nvidia (Nasdaq: NVDA)
Nvidia gained solidly by 3.54%, with the trading volume of 28.37B. NVIDIA faces potential fines of up to 30% of its US revenue due to monopoly allegations. CEO Jensen Huang has sold shares. NVIDIA also received praise for implementing ray tracing in the game "Black Myth". Volvo Cars is expanding its collaboration with NVIDIA.
2. Apple (Nasdaq: AAPL)
Apple gained mildly by 0.04%, with the trading volume of 14.66B. Apple's fall event unveiled iPhone 16 with enhanced camera button and A18 chip, iPhone 16 Plus with improved battery, and larger-screened iPhone 16 Pro and Max. Apple Intelligence will launch in China next year. iPhone 13 discontinued on Apple’s site.
3. Tesla (Nasdaq: TSLA)
Tesla gained mildly by 2.63%, with the trading volume of 14.57B. Tesla saw its retail market share in China drop to 6.2% in August, down 2.8 percentage points year-over-year. Cantor Fitzgerald reaffirmed a neutral rating for Tesla with a target price of $245. Additionally, Tesla plans to launch its Full Self-Driving (FSD) feature in China in Q1 2024.
4. Microsoft (Nasdaq: MSFT)
Microsoft gained mildly by 1.00%, with the trading volume of 6.16B. Microsoft's AI PC strategy and its role in the projected rise of AI PC adoption in 2024 were highlighted, with expected shipments reaching 44 million units in 2024 and 103 million units in 2025.
5. Alphabet (Nasdaq: GOOGL)
Alphabet dipped mildly by -1.46%, with the trading volume of 5.65B. The U.S. Department of Justice has filed its second antitrust lawsuit against Google, alleging illegal monopolization of the digital advertising market. The department may demand business divestitures by December. Additionally, Google launched Android 15 and Illuminate.
6. Broadcom (Nasdaq: AVGO)
Broadcom gained mildly by 2.79%, with the trading volume of 5.42B. Broadcom reported Q3 FY24 revenue of $13.072 billion, a 47% year-over-year increase. Net income was $1.571 billion, with basic earnings per share of $0.34. UBS maintained a Buy rating on Broadcom with a new price target of $170. The CEO highlighted strong AI chip revenue growth.
7. Meta Platforms (Nasdaq: META)
Meta Platforms gained mildly by 0.90%, with the trading volume of 5.28B. Meta's Quest 3S headset has been revealed, featuring Wi-Fi 6E and Bluetooth support. Next year, Meta will introduce cross-app messaging in Europe, complying with the EU's Digital Markets Act, eventually allowing advanced features like calls and video by 2027.
8. Amazon (Nasdaq: AMZN)
Amazon.Com gained mildly by 2.34%, with the trading volume of 5.06B. Amazon's trading volume was $5.064 billion on September 9, ranking 8th among US stocks for the day. Closing activities saw Amazon shares rise over 2%.
9. Palantir Technologies (NYSE: PLTR)
Palantir Technologies surged by 14.05%, with the trading volume of 4.75B. Palantir has been included in the S&P 500 Index effective September 23, and Wedbush reiterated its Outperform rating with a target price of $38. The company reported Q2 2024 revenue of $1.312 billion, a 23.99% increase year-over-year.
10. Alphabet (Nasdaq: GOOG)
Alphabet dipped mildly by -1.70%, with the trading volume of 4.19B. The U.S. Department of Justice's second antitrust case against Alphabet's Google (GOOGL.US) began, focusing on allegations of monopolizing the digital ad industry. Additionally, the DOJ indicated potential remedial measures by December, and a ruling on search market abuse penalties is set for next August.
Nvidia gained solidly by 3.54%, with the trading volume of 28.37B. NVIDIA faces potential fines of up to 30% of its US revenue due to monopoly allegations. CEO Jensen Huang has sold shares. NVIDIA also received praise for implementing ray tracing in the game "Black Myth". Volvo Cars is expanding its collaboration with NVIDIA.
2. Apple (Nasdaq: AAPL)
Apple gained mildly by 0.04%, with the trading volume of 14.66B. Apple's fall event unveiled iPhone 16 with enhanced camera button and A18 chip, iPhone 16 Plus with improved battery, and larger-screened iPhone 16 Pro and Max. Apple Intelligence will launch in China next year. iPhone 13 discontinued on Apple’s site.
3. Tesla (Nasdaq: TSLA)
Tesla gained mildly by 2.63%, with the trading volume of 14.57B. Tesla saw its retail market share in China drop to 6.2% in August, down 2.8 percentage points year-over-year. Cantor Fitzgerald reaffirmed a neutral rating for Tesla with a target price of $245. Additionally, Tesla plans to launch its Full Self-Driving (FSD) feature in China in Q1 2024.
4. Microsoft (Nasdaq: MSFT)
Microsoft gained mildly by 1.00%, with the trading volume of 6.16B. Microsoft's AI PC strategy and its role in the projected rise of AI PC adoption in 2024 were highlighted, with expected shipments reaching 44 million units in 2024 and 103 million units in 2025.
5. Alphabet (Nasdaq: GOOGL)
Alphabet dipped mildly by -1.46%, with the trading volume of 5.65B. The U.S. Department of Justice has filed its second antitrust lawsuit against Google, alleging illegal monopolization of the digital advertising market. The department may demand business divestitures by December. Additionally, Google launched Android 15 and Illuminate.
6. Broadcom (Nasdaq: AVGO)
Broadcom gained mildly by 2.79%, with the trading volume of 5.42B. Broadcom reported Q3 FY24 revenue of $13.072 billion, a 47% year-over-year increase. Net income was $1.571 billion, with basic earnings per share of $0.34. UBS maintained a Buy rating on Broadcom with a new price target of $170. The CEO highlighted strong AI chip revenue growth.
7. Meta Platforms (Nasdaq: META)
Meta Platforms gained mildly by 0.90%, with the trading volume of 5.28B. Meta's Quest 3S headset has been revealed, featuring Wi-Fi 6E and Bluetooth support. Next year, Meta will introduce cross-app messaging in Europe, complying with the EU's Digital Markets Act, eventually allowing advanced features like calls and video by 2027.
8. Amazon (Nasdaq: AMZN)
Amazon.Com gained mildly by 2.34%, with the trading volume of 5.06B. Amazon's trading volume was $5.064 billion on September 9, ranking 8th among US stocks for the day. Closing activities saw Amazon shares rise over 2%.
9. Palantir Technologies (NYSE: PLTR)
Palantir Technologies surged by 14.05%, with the trading volume of 4.75B. Palantir has been included in the S&P 500 Index effective September 23, and Wedbush reiterated its Outperform rating with a target price of $38. The company reported Q2 2024 revenue of $1.312 billion, a 23.99% increase year-over-year.
10. Alphabet (Nasdaq: GOOG)
Alphabet dipped mildly by -1.70%, with the trading volume of 4.19B. The U.S. Department of Justice's second antitrust case against Alphabet's Google (GOOGL.US) began, focusing on allegations of monopolizing the digital ad industry. Additionally, the DOJ indicated potential remedial measures by December, and a ruling on search market abuse penalties is set for next August.
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