Record Trading Surges: Tesla, Alphabet, and Broadcom Lead Market Gains
AInvestWednesday, Dec 11, 2024 5:31 pm ET
2min read
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1. Tesla (Nasdaq: TSLA)
Tesla gained solidly by 5.93%, with the trading volume of 42.36B. Tesla Inc. reached a record intraday high of $424.88, surpassing the previous peak from November 2021. GM announced the discontinuation of funding for its Cruise Robotaxi project, shifting focus to personal autonomous vehicle technology after investing over $10 billion in nearly a decade.

2. Nvidia (Nasdaq: NVDA)
Nvidia gained solidly by 3.14%, with the trading volume of 25.18B. NVIDIA has been subjected to a monopoly investigation in China, discontinued its RTX 4090 graphics card, causing a price surge, and introduced the NaVILA model to advance mapless robot navigation, highlighting recent corporate developments.

3. Alphabet (Nasdaq: GOOGL)
Alphabet gained solidly by 5.53%, with the trading volume of 12.82B. Google's new Willow quantum computing chip has achieved significant breakthroughs with 105 qubits, exponentially reducing error rates. Additionally, Google plans a $50 billion investment in AI for its search business in 2024, according to President and CIO Ruth Porat.

4. Microstrategy Incorporated (Nasdaq: MSTR)
Microstrategy Incorporated surged by 9.03%, with the trading volume of 10.99B. Microstrategy reported a trading volume of $10.708 billion on December 11, 2024, significantly impacting its market activity.

5. Apple (Nasdaq: AAPL)
Apple dipped mildly by -0.52%, with the trading volume of 10.88B. Apple is collaborating with Broadcom to develop AI chips, expected to be ready for production by 2026. ChatGPT has been integrated into Apple's iOS, iPadOS, and macOS systems. The iPhone SE 4 is reportedly scheduled for release around March next year, incorporating significant upgrades.

6. Alphabet (Nasdaq: GOOG)
Alphabet gained solidly by 5.46%, with the trading volume of 7.96B. Google announced its new quantum computing chip, Willow, which achieved significant breakthroughs in error rate reduction and processing speed, outpacing the world's fastest supercomputers. Google plans to invest $50 billion in AI for search in 2024.

7. Microsoft (Nasdaq: MSFT)
Microsoft gained mildly by 1.28%, with the trading volume of 7.89B. Microsoft plans to take an $800 million impairment charge in the second quarter related to its minority stake in General Motors' Cruise. Additionally, the Federal Trade Commission's leadership change may benefit major tech companies, including Microsoft.

8. Amazon (Nasdaq: AMZN)
Amazon.Com gained mildly by 2.32%, with the trading volume of 7.81B. Amazon launched online car retail service Amazon Auto in 48 US cities, competing with Costco's car program. Also, a new FTC leadership is seen as favorable for Amazon, Meta Platforms, and Microsoft. Amazon introduced AI tools to enhance cross-border e-commerce operations.

9. Broadcom (Nasdaq: AVGO)
Broadcom surged by 6.63%, with the trading volume of 7.48B. Broadcom is collaborating with Apple to develop AI chips, targeting production by 2026. Rosenblatt and Citigroup maintain a buy rating for Broadcom, with target prices of $240 and $205, respectively. Broadcom's Q3 2024 revenue reached $375.20 billion with a net profit of $15.71 billion.

10. Meta Platforms (Nasdaq: META)
Meta Platforms gained mildly by 2.16%, with the trading volume of 6.85B. The FTC leadership change is seen as beneficial for major tech companies like Meta Platforms. A user reported issues with Meta's Facebook and Instagram. Meta AI criticized OpenAI's closed-source approach. Piper Sandler maintains an outperform rating on Meta with a target price of $670.
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