Tech Giants Surge: Nvidia Hits Record Market Cap, Constellation Energy and Broadcom Soar

1. Nvidia (Nasdaq: NVDA)
Nvidia surged by 12.81%. Man Group stated that the valuations of major tech firms, including Nvidia, are acceptable and reflect reasonable return rates. Nvidia's market cap surged by a record $329 billion in a single day, while analysts from Morgan Stanley remain optimistic about its long-term growth potential.

2. Constellation Energy (Nasdaq: CEG)
Constellation Energy surged by 12.51%. Constellation Energy declared a cash dividend of $0.3525 per share. Morgan Stanley and UBS maintain positive ratings on Constellation Energy, with price targets of $241.00 and $249.00, respectively. Constellation Energy disclosed 10 insider transactions on July 2.

3. Broadcom (Nasdaq: AVGO)
Broadcom surged by 11.96%. Broadcom saw a trading volume of $7.223 billion on July 31, 2024, marking an increase from the previous day. Broadcom’s AI-related stocks experienced significant declines amid investor skepticism, dropping over 2%. Broadcom is also negotiating a partnership with OpenAI for custom ASIC chips, positioning itself against NVIDIA.

4. Arista Networks (NYSE: ANET)
Arista Networks surged by 11.26%. Arista Networks reported Q2 2024 results with adjusted EPS of $2.10 beating estimates and revenue of $1.69 billion. Jefferies, Needham, and Wells Fargo maintain buy/overweight ratings with target prices of $380 and $390 respectively. Rosenblatt maintains sell with a target of $265.

5. Monolithic Power Systems (Nasdaq: MPWR)
Monolithic Power Systems surged by 10.39%. Monolithic Power will report its fiscal 2024 second-quarter financial results on August 1, 2024. Rosenblatt and Keybanc maintain their ratings on Monolithic Power, setting target prices at $880 and $975, respectively. Multiple insider trading activities have been disclosed throughout July 2024.