Stock Movements: Nvidia & Super Micro Lead High Trading Volume Trends
AInvestWednesday, Aug 7, 2024 6:31 pm ET
2min read
NVDA --
1. Nvidia (Nasdaq: NVDA)
Nvidia dropped solidly by -5.08%, with the trading volume of 41.68B. NVIDIA and Zoox announced a collaboration to develop autonomous ride-hailing vehicles. CEO Jensen Huang highlighted the uniqueness of this robotaxi venture. NVIDIA disclosed 21 insider trading transactions on August 6, 2024. Samsung's HBM3E chips passed NVIDIA's AI processor tests, with supply expected in Q4.

2. Tesla (Nasdaq: TSLA)
Tesla dropped solidly by -4.43%, with the trading volume of 13.80B. Tesla has reportedly canceled plans to build factories in Southeast Asia, focusing instead on expanding its local charging network. The company has recalled over 1.68 million vehicles to address defects via OTA updates. Tesla is also increasing its involvement in government procurement.

3. Apple (Nasdaq: AAPL)
Apple gained mildly by 1.25%, with the trading volume of 13.03B. Apple will launch the iPhone 16 series in South Korea among initial markets, a deviation from its traditional release strategy. Apple shipped 12.3 million tablets in Q2 2024, as the global tablet market grew by 22.1%.

4. Meta Platforms (Nasdaq: META)
Meta Platforms dipped mildly by -1.05%, with the trading volume of 9.96B. Meta Platforms is in talks with Jio for a potential VR collaboration. Meta launched the 'Self-Taught Evaluator' to improve NLP without human annotations. Meta built a large-scale RoCEv2 network to train AI models with billions of parameters. Loop Capital maintains a buy rating on Meta with a $575 target.

5. Super Micromputer (Nasdaq: SMCI)
Super Micromputer plunged by -20.14%, with the trading volume of 9.27B. Super Micro Computer reported mixed Q4 2024 results with revenue growth but lower-than-expected margins. B of A Securities downgraded it to Neutral with a $700 price target. Wells Fargo maintained its Hold rating, setting a $650 target. JP Morgan maintained Overweight but lowered its target to $950.

6. Microsoft (Nasdaq: MSFT)
Microsoft dipped mildly by -0.29%, with the trading volume of 8.18B. Microsoft blamed Delta Air Lines for not modernizing IT infrastructure, leading to recent network outages. The Microsoft Authenticator app was reported to have a design flaw that causes account lockouts. Microsoft criticized Delta for refusing free tech assistance, linking it to $500 million in losses.

7. Amazon (Nasdaq: AMZN)
Amazon.Com gained mildly by 0.52%, with the trading volume of 7.91B. Amazon implemented a "refund without return" policy in 2017 to reduce return costs and improve customer satisfaction. In 2024, Amazon's mid-year report showed revenue of $291.29 billion, up 11.29% year-over-year, with net profit of $239 million.

8. Advanced Micro Devices (Nasdaq: AMD)
Advanced Micro Devices dipped mildly by -1.16%, with the trading volume of 7.17B. AMD's Ryzen 9700X and 9600X processors were tested, revealing strong competition against Intel's 14th-gen Core. The RX 6600 series GPUs have been discontinued. AMD is launching entry-level GPUs and has partnered with ThunderSoft for smart car cabins. The Ryzen AI 9 HX 375 excels in AI PC NPU performance.

9. Broadcom (Nasdaq: AVGO)
Broadcom dropped solidly by -5.32%, with the trading volume of 4.17B. Broadcom's trading volume reached $4.165 billion on August 7, 2024, ranking it ninth among US stocks for the day.

10. Alphabet (Nasdaq: GOOGL)
Alphabet gained mildly by 0.41%, with the trading volume of 4.01B. Google's antitrust case reveals no immediate remedies; impacts on Apple likely. Google's Pixel 9 renders look promising. Mozilla's Firefox heavily relies on Google, facing challenges. Google's Waymo expands autonomous taxi ops in Los Angeles and San Francisco.
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