Record-Breaking Trades: Nvidia Leads, Tech Giants Push Boundaries
Market BriefTuesday, Oct 22, 2024 6:31 pm ET
2min read1. Nvidia (Nasdaq: NVDA)
Nvidia dipped mildly by -0.08%, with the trading volume of 31.91B. NVIDIA's market cap has surpassed $3.5 trillion for the first time. The company plans to announce an investment in Thailand by December, joining tech giants in the Southeast Asian market. Additionally, NVIDIA is rebranding the Blackwell Ultra products to the B300 series, targeting 2025 for increased CoWoS-L driven growth.
2. Microsoft (Nasdaq: MSFT)
Microsoft gained mildly by 2.08%, with the trading volume of 10.16B. Microsoft introduced new Xbox wireless headphones with upgraded Dolby Atmos, Bluetooth 5.3, and enhanced voice isolation. Additionally, the company launched 10 AI agents, with over 2.1 million active users and adoption by 60% of Fortune 500 companies.
3. Tesla (Nasdaq: TSLA)
Tesla dipped mildly by -0.40%, with the trading volume of 9.33B. Tesla faces a lawsuit from Alcon Entertainment for allegedly using imagery from the movie "Blade Runner 2049" without authorization in promotional materials.
4. Apple (Nasdaq: AAPL)
Apple dipped mildly by -0.26%, with the trading volume of 9.04B. Apple plans to launch an ultra-thin iPhone 17 Air next year. The company is developing a game-focused App Store to attract gamers. Apple is also introducing a clinical-grade hearing feature to AirPods Pro 2. Meanwhile, iPhone 16 series underwent significant price cuts.
5. Amazon (Nasdaq: AMZN)
Amazon.Com gained mildly by 0.33%, with the trading volume of 5.48B. Amazon is discontinuing its "Amazon Today" same-day delivery service from malls and retailers, closing most projects by December 2. Additionally, Amazon-backed AI startup Anthropic announced an AI agent performing complex computer tasks, similar to OpenAI's ChatGPT. Amazon also plans to eliminate plastic bubble wrap in packaging by October 2024, responding to environmental calls.
6. Advanced Micro Devices (Nasdaq: AMD)
Advanced Micro Devices dipped mildly by -2.41%, with the trading volume of 5.32B. Advanced Micro Devices (AMD) has confirmed its most powerful APU, rivaling the mobile RTX 4070 in performance. Additionally, AMD's Ryzen 7 9800X3D price leaked at $484, highlighting competitive advancements amidst its rivalry with NVIDIA.
7. Meta Platforms (Nasdaq: META)
Meta Platforms gained mildly by 1.19%, with the trading volume of 4.93B. Jefferies maintains a Buy rating on Meta Platforms with a target price of $675. Meta utilizes facial recognition technology to combat "celebrity bait" scams and expands collaboration with Lumen Technologies to increase network capacity. Additionally, WhatsApp introduces personalized AI chatbot memory features.
8. Microstrategy Incorporated (Nasdaq: MSTR)
Microstrategy Incorporated gained mildly by 0.30%, with the trading volume of 2.97B. BTIG maintains a Buy rating on Microstrategy, raising the price target to $240. Microstrategy reported a 6.45% year-over-year decline in revenue, totaling $227 million as of June 30, 2024.
9. Ge Aerospace (NYSE: GE)
Ge Aerospace plunged by -9.08%, with the trading volume of 2.76B. GE Aerospace reported mixed Q3 results with sales below expectations at $8.9 billion and EPS slightly above projections at $1.15. The company has upgraded its full-year guidance despite ongoing supply chain challenges.
10. Alphabet (Nasdaq: GOOGL)
Alphabet gained mildly by 0.65%, with the trading volume of 2.66B. Qualcomm partners with Google to develop automotive AI products, introducing Snapdragon Cockpit Elite for dashboards and Snapdragon Ride Elite for autonomous driving. Mercedes plans to use these chips. Anthropic launches an updated AI model, Claude 3.5 Sonnet, capable of complex computer tasks. Some Pixel 6 phones bricked after Android 15 update.
Nvidia dipped mildly by -0.08%, with the trading volume of 31.91B. NVIDIA's market cap has surpassed $3.5 trillion for the first time. The company plans to announce an investment in Thailand by December, joining tech giants in the Southeast Asian market. Additionally, NVIDIA is rebranding the Blackwell Ultra products to the B300 series, targeting 2025 for increased CoWoS-L driven growth.
2. Microsoft (Nasdaq: MSFT)
Microsoft gained mildly by 2.08%, with the trading volume of 10.16B. Microsoft introduced new Xbox wireless headphones with upgraded Dolby Atmos, Bluetooth 5.3, and enhanced voice isolation. Additionally, the company launched 10 AI agents, with over 2.1 million active users and adoption by 60% of Fortune 500 companies.
3. Tesla (Nasdaq: TSLA)
Tesla dipped mildly by -0.40%, with the trading volume of 9.33B. Tesla faces a lawsuit from Alcon Entertainment for allegedly using imagery from the movie "Blade Runner 2049" without authorization in promotional materials.
4. Apple (Nasdaq: AAPL)
Apple dipped mildly by -0.26%, with the trading volume of 9.04B. Apple plans to launch an ultra-thin iPhone 17 Air next year. The company is developing a game-focused App Store to attract gamers. Apple is also introducing a clinical-grade hearing feature to AirPods Pro 2. Meanwhile, iPhone 16 series underwent significant price cuts.
5. Amazon (Nasdaq: AMZN)
Amazon.Com gained mildly by 0.33%, with the trading volume of 5.48B. Amazon is discontinuing its "Amazon Today" same-day delivery service from malls and retailers, closing most projects by December 2. Additionally, Amazon-backed AI startup Anthropic announced an AI agent performing complex computer tasks, similar to OpenAI's ChatGPT. Amazon also plans to eliminate plastic bubble wrap in packaging by October 2024, responding to environmental calls.
6. Advanced Micro Devices (Nasdaq: AMD)
Advanced Micro Devices dipped mildly by -2.41%, with the trading volume of 5.32B. Advanced Micro Devices (AMD) has confirmed its most powerful APU, rivaling the mobile RTX 4070 in performance. Additionally, AMD's Ryzen 7 9800X3D price leaked at $484, highlighting competitive advancements amidst its rivalry with NVIDIA.
7. Meta Platforms (Nasdaq: META)
Meta Platforms gained mildly by 1.19%, with the trading volume of 4.93B. Jefferies maintains a Buy rating on Meta Platforms with a target price of $675. Meta utilizes facial recognition technology to combat "celebrity bait" scams and expands collaboration with Lumen Technologies to increase network capacity. Additionally, WhatsApp introduces personalized AI chatbot memory features.
8. Microstrategy Incorporated (Nasdaq: MSTR)
Microstrategy Incorporated gained mildly by 0.30%, with the trading volume of 2.97B. BTIG maintains a Buy rating on Microstrategy, raising the price target to $240. Microstrategy reported a 6.45% year-over-year decline in revenue, totaling $227 million as of June 30, 2024.
9. Ge Aerospace (NYSE: GE)
Ge Aerospace plunged by -9.08%, with the trading volume of 2.76B. GE Aerospace reported mixed Q3 results with sales below expectations at $8.9 billion and EPS slightly above projections at $1.15. The company has upgraded its full-year guidance despite ongoing supply chain challenges.
10. Alphabet (Nasdaq: GOOGL)
Alphabet gained mildly by 0.65%, with the trading volume of 2.66B. Qualcomm partners with Google to develop automotive AI products, introducing Snapdragon Cockpit Elite for dashboards and Snapdragon Ride Elite for autonomous driving. Mercedes plans to use these chips. Anthropic launches an updated AI model, Claude 3.5 Sonnet, capable of complex computer tasks. Some Pixel 6 phones bricked after Android 15 update.
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