Powerhouse Trading Volumes: Nvidia, Tesla, and More on the Move!
Tuesday, Aug 20, 2024 6:31 pm ET
2min read 1. Nvidia (Nasdaq: NVDA)
Nvidia dipped mildly by -2.12%, with the trading volume of 37.41B. NVIDIA's transaction volume on August 20, 2024, was $37.67 billion. Analysts project NVIDIA’s AI-driven growth will continue, expecting strong Q2 results. Wedbush and Goldman Sachs are optimistic about NVIDIA's future. SK Hynix confirms HBM demands from NVIDIA and other tech giants.
2. Tesla (Nasdaq: TSLA)
Tesla dipped mildly by -0.73%, with the trading volume of 16.41B. Tesla reported Q2 2024 revenues of $46.801 billion, down 3.02% year-over-year, with net income at $2.638 billion. Baird maintains an Outperform rating on Tesla with a target price of $280. The EU plans to impose a 9% anti-subsidy tariff on Chinese-imported Tesla vehicles.
3. Advanced Micro Devices (Nasdaq: AMD)
Advanced Micro Devices gained mildly by 0.72%, with the trading volume of 12.05B. Advanced Micro Devices (AMD) is acquiring ZT Systems for $4.9B to enhance its AI infrastructure capabilities. Edward Jones initiated coverage on AMD with a buy rating. AMD also released the Adrenalin 24.8.1 driver for new game optimizations.
4. Apple (Nasdaq: AAPL)
Apple gained mildly by 0.28%, with the trading volume of 6.77B. Apple's global smartphone shipment grew by 9% in Q2. Apple intends to locally manufacture iPhone 16 Pro in India with Foxconn's collaboration. New AirPods are expected to launch this fall, and Apple plans to introduce a desktop AI robot, with Foxconn being a supplier.
5. Microsoft (Nasdaq: MSFT)
Microsoft gained mildly by 0.78%, with the trading volume of 6.45B. Microsoft announced new Xbox Game Pass titles for late August, featuring "Starfield", "Dustbound", and "Core Keeper". Significant security vulnerabilities have been found in Microsoft 365 apps for macOS. Microsoft Loop 2.0 has been released with a redesigned interface and upgraded features.
6. Eli Lilly Andmpany (NYSE: LLY)
Eli Lilly Andmpany gained solidly by 3.08%, with the trading volume of 4.65B. Eli Lilly disclosed five insider transactions on August 20, 2024. Eli Lilly announced that its GLP-1 drug, tirzepatide, significantly reduces the risk of type 2 diabetes by 94% in prediabetic and overweight adults. Additionally, the company expanded its commercialization agreement for Emgality with Organon to 11 more markets.
7. Palo Alto Networks (Nasdaq: PANW)
Palo Alto Networks surged by 7.18%, with the trading volume of 4.58B. Palo Alto Networks reported Q3 2024 revenue of $58.38 billion with 18.19% YoY growth. Scotiabank, Oppenheimer, JP Morgan, Deutsche Bank, and BMO Capital maintain positive ratings with target prices of $400, $410, $387, $395, and $390 respectively. Rosenblatt remains neutral with a $345 target.
8. Amazon (Nasdaq: AMZN)
Amazon.Com gained mildly by 0.37%, with the trading volume of 4.47B. Amazon's AI investments have hurt profits, leading to underperformance compared to peers since early August. Additionally, Amazon acquired Perceive for $80 million and disclosed three insider trading transactions on August 19, 2024.
9. Meta Platforms (Nasdaq: META)
Meta Platforms dipped mildly by -0.48%, with the trading volume of 4.18B. Meta disclosed 62 insider transactions on August 19, 2024. Meta's Quest 2/3/Pro headsets now support the HDMI Link app for 1080P wired display functionality. Palmer Luckey discusses potential Meta VR development issues and his future plans.
10. Super Micromputer (Nasdaq: SMCI)
Super Micromputer dipped mildly by -2.04%, with the trading volume of 3.62B. Advanced Micro Devices announced a $49 billion acquisition as part of its strategic expansion in AI development.
Nvidia dipped mildly by -2.12%, with the trading volume of 37.41B. NVIDIA's transaction volume on August 20, 2024, was $37.67 billion. Analysts project NVIDIA’s AI-driven growth will continue, expecting strong Q2 results. Wedbush and Goldman Sachs are optimistic about NVIDIA's future. SK Hynix confirms HBM demands from NVIDIA and other tech giants.
2. Tesla (Nasdaq: TSLA)
Tesla dipped mildly by -0.73%, with the trading volume of 16.41B. Tesla reported Q2 2024 revenues of $46.801 billion, down 3.02% year-over-year, with net income at $2.638 billion. Baird maintains an Outperform rating on Tesla with a target price of $280. The EU plans to impose a 9% anti-subsidy tariff on Chinese-imported Tesla vehicles.
3. Advanced Micro Devices (Nasdaq: AMD)
Advanced Micro Devices gained mildly by 0.72%, with the trading volume of 12.05B. Advanced Micro Devices (AMD) is acquiring ZT Systems for $4.9B to enhance its AI infrastructure capabilities. Edward Jones initiated coverage on AMD with a buy rating. AMD also released the Adrenalin 24.8.1 driver for new game optimizations.
4. Apple (Nasdaq: AAPL)
Apple gained mildly by 0.28%, with the trading volume of 6.77B. Apple's global smartphone shipment grew by 9% in Q2. Apple intends to locally manufacture iPhone 16 Pro in India with Foxconn's collaboration. New AirPods are expected to launch this fall, and Apple plans to introduce a desktop AI robot, with Foxconn being a supplier.
5. Microsoft (Nasdaq: MSFT)
Microsoft gained mildly by 0.78%, with the trading volume of 6.45B. Microsoft announced new Xbox Game Pass titles for late August, featuring "Starfield", "Dustbound", and "Core Keeper". Significant security vulnerabilities have been found in Microsoft 365 apps for macOS. Microsoft Loop 2.0 has been released with a redesigned interface and upgraded features.
6. Eli Lilly Andmpany (NYSE: LLY)
Eli Lilly Andmpany gained solidly by 3.08%, with the trading volume of 4.65B. Eli Lilly disclosed five insider transactions on August 20, 2024. Eli Lilly announced that its GLP-1 drug, tirzepatide, significantly reduces the risk of type 2 diabetes by 94% in prediabetic and overweight adults. Additionally, the company expanded its commercialization agreement for Emgality with Organon to 11 more markets.
7. Palo Alto Networks (Nasdaq: PANW)
Palo Alto Networks surged by 7.18%, with the trading volume of 4.58B. Palo Alto Networks reported Q3 2024 revenue of $58.38 billion with 18.19% YoY growth. Scotiabank, Oppenheimer, JP Morgan, Deutsche Bank, and BMO Capital maintain positive ratings with target prices of $400, $410, $387, $395, and $390 respectively. Rosenblatt remains neutral with a $345 target.
8. Amazon (Nasdaq: AMZN)
Amazon.Com gained mildly by 0.37%, with the trading volume of 4.47B. Amazon's AI investments have hurt profits, leading to underperformance compared to peers since early August. Additionally, Amazon acquired Perceive for $80 million and disclosed three insider trading transactions on August 19, 2024.
9. Meta Platforms (Nasdaq: META)
Meta Platforms dipped mildly by -0.48%, with the trading volume of 4.18B. Meta disclosed 62 insider transactions on August 19, 2024. Meta's Quest 2/3/Pro headsets now support the HDMI Link app for 1080P wired display functionality. Palmer Luckey discusses potential Meta VR development issues and his future plans.
10. Super Micromputer (Nasdaq: SMCI)
Super Micromputer dipped mildly by -2.04%, with the trading volume of 3.62B. Advanced Micro Devices announced a $49 billion acquisition as part of its strategic expansion in AI development.
