Volume Stonkers | Carvana soared 19.23%, Analysts Raise Target Prices After Strong Q3 Results
Thursday, Oct 31, 2024 5:30 pm ET
3min read NVIDIA, ranked first in trading volume, fell 4.72% with a trading volume of $35.683 billion. The stock price volatility of NVIDIA has attracted market attention. SoftBank founder Masayoshi Son recently expressed his belief that NVIDIA's stock is undervalued and predicted that NVIDIA will achieve "super AI" by 2035. Additionally, NVIDIA's options trading was highly active, with a volume of 4.288 million contracts on October 31.
Microsoft, in second place, fell 6.05% with a trading volume of $21.854 billion. Despite Microsoft's Q3 Azure revenue growth exceeding 30%, concerns about a slowdown in Q4 growth have worried the market. Microsoft also disclosed for the first time its investment in OpenAI, totaling $13 billion, accounted for under the equity method.
Tesla, ranked third, dropped 2.99% with a trading volume of $16.270 billion. Tesla's recent market performance has drawn attention; despite the decline in stock price, it still finds support in the electric vehicle manufacturing sector. Furthermore, xAI is seeking a $40 billion valuation, and Elon Musk remains cautious about potential AI risks.
Meta, in fourth place, decreased by 4.09% with a trading volume of $15.303 billion. Meta's Q3 revenue slightly exceeded expectations, but its metaverse business suffered significant losses, and capital expenditures are expected to rise sharply next year. Ark Investment Management increased its holdings in Meta during the third quarter, showing confidence in its future.
Apple, ranked fifth, fell 1.82% with a trading volume of $13.631 billion. Apple unveiled a new MacBook Pro featuring the M4 Max chip and achieved record revenue growth in the Indian market. The company expects next quarter's revenue growth to be in the low to mid-single digits.
Amazon, in sixth place, declined by 3.39% with a trading volume of $13.204 billion. Amazon's capital expenditure in the third quarter reached $21.4 billion, and plans are in place to launch autonomous vehicles in San Francisco and Las Vegas. The company anticipates its capital expenditure will increase to $75 billion in 2024.
Alphabet Class A, ranked seventh, fell 1.92% with a trading volume of $7.682 billion. Alphabet's Q3 performance exceeded expectations across the board, with its autonomous driving subsidiary Waymo valued at $45 billion, surpassing major brands like Ford.
Advanced Micro Devices (AMD), in eighth place, dropped 3.06% with a trading volume of $6.387 billion. AMD is optimistic about the PC market in 2025 and plans to release the next-generation MI350 series chips in the second half of 2025.
Alphabet Class C, ranked ninth, fell 1.98% with a trading volume of $5.711 billion. Alphabet Class C also benefited from Alphabet's overall better-than-expected performance and made significant progress in the autonomous driving sector.
Eli Lilly, in tenth place, decreased by 2.01% with a trading volume of $5.398 billion. Eli Lilly is facing pressure on Zepbound sales. Nonetheless, UBS remains optimistic about its long-term growth prospects and believes it is prepared for growth in 2025.
MicroStrategy, ranked eleventh, fell 1.14% with a trading volume of $5.355 billion. MicroStrategy plans to raise $42 billion over the next three years to purchase Bitcoin, despite a 10.3% year-over-year decline in Q3 revenue.
Uber, in twelfth place, decreased by 9.30% with a trading volume of $4.447 billion. Uber achieved record-high Q3 profits, but the booking volume showed a downward trend. Oppenheimer lowered Uber's target stock price to $85.
Broadcom, ranked thirteenth, fell 3.89% with a trading volume of $4.407 billion. Broadcom may be impacted by Apple's plan to adopt self-developed Wi-Fi 7 chips. Additionally, Broadcom's collaboration plans with OpenAI and TSMC are noteworthy.
Boeing, in fourteenth place, dropped 3.24% with a trading volume of $4.292 billion. Boeing dissolved its global diversity, equity, and inclusion department and skipped China's largest airshow due to cost-cutting. The company maintained its hold rating, with the target price unchanged.
SMIC, ranked fifteenth, fell 11.98% with a trading volume of $3.683 billion. Ernst & Young resigned as SMIC's auditor, questioning its governance and ethical integrity, causing market turbulence.
Trump Media & Technology, in sixteenth place, decreased by 11.72% with a trading volume of $3.621 billion. Trump Media & Technology experienced significant volatility ahead of the upcoming U.S. presidential election, with heavy selling among retail investors.
Coinbase Global, ranked seventeenth, fell 15.34% with a trading volume of $3.533 billion. Coinbase's Q3 total revenue increased nearly 79% year-over-year but missed market expectations. The company also announced a $1 billion buyback plan.
Carvana, in eighteenth place, rose 19.23% with a trading volume of $3.346 billion. Carvana reported strong third-quarter results, leading to a significant stock price surge and analysts raising target prices.
Mastercard, ranked nineteenth, fell 2.81% with a trading volume of $2.785 billion. Mastercard's Q3 revenue grew by 13%, and it forecasts continued growth in operating income in the fourth quarter amid healthy consumer spending.
TSMC, in twentieth place, decreased by 2.02% with a trading volume of $2.440 billion. TSMC's AI self-developed chip project in collaboration with OpenAI is attracting attention, with expectations to start from the 3nm process.
Microsoft, in second place, fell 6.05% with a trading volume of $21.854 billion. Despite Microsoft's Q3 Azure revenue growth exceeding 30%, concerns about a slowdown in Q4 growth have worried the market. Microsoft also disclosed for the first time its investment in OpenAI, totaling $13 billion, accounted for under the equity method.
Tesla, ranked third, dropped 2.99% with a trading volume of $16.270 billion. Tesla's recent market performance has drawn attention; despite the decline in stock price, it still finds support in the electric vehicle manufacturing sector. Furthermore, xAI is seeking a $40 billion valuation, and Elon Musk remains cautious about potential AI risks.
Meta, in fourth place, decreased by 4.09% with a trading volume of $15.303 billion. Meta's Q3 revenue slightly exceeded expectations, but its metaverse business suffered significant losses, and capital expenditures are expected to rise sharply next year. Ark Investment Management increased its holdings in Meta during the third quarter, showing confidence in its future.
Apple, ranked fifth, fell 1.82% with a trading volume of $13.631 billion. Apple unveiled a new MacBook Pro featuring the M4 Max chip and achieved record revenue growth in the Indian market. The company expects next quarter's revenue growth to be in the low to mid-single digits.
Amazon, in sixth place, declined by 3.39% with a trading volume of $13.204 billion. Amazon's capital expenditure in the third quarter reached $21.4 billion, and plans are in place to launch autonomous vehicles in San Francisco and Las Vegas. The company anticipates its capital expenditure will increase to $75 billion in 2024.
Alphabet Class A, ranked seventh, fell 1.92% with a trading volume of $7.682 billion. Alphabet's Q3 performance exceeded expectations across the board, with its autonomous driving subsidiary Waymo valued at $45 billion, surpassing major brands like Ford.
Advanced Micro Devices (AMD), in eighth place, dropped 3.06% with a trading volume of $6.387 billion. AMD is optimistic about the PC market in 2025 and plans to release the next-generation MI350 series chips in the second half of 2025.
Alphabet Class C, ranked ninth, fell 1.98% with a trading volume of $5.711 billion. Alphabet Class C also benefited from Alphabet's overall better-than-expected performance and made significant progress in the autonomous driving sector.
Eli Lilly, in tenth place, decreased by 2.01% with a trading volume of $5.398 billion. Eli Lilly is facing pressure on Zepbound sales. Nonetheless, UBS remains optimistic about its long-term growth prospects and believes it is prepared for growth in 2025.
MicroStrategy, ranked eleventh, fell 1.14% with a trading volume of $5.355 billion. MicroStrategy plans to raise $42 billion over the next three years to purchase Bitcoin, despite a 10.3% year-over-year decline in Q3 revenue.
Uber, in twelfth place, decreased by 9.30% with a trading volume of $4.447 billion. Uber achieved record-high Q3 profits, but the booking volume showed a downward trend. Oppenheimer lowered Uber's target stock price to $85.
Broadcom, ranked thirteenth, fell 3.89% with a trading volume of $4.407 billion. Broadcom may be impacted by Apple's plan to adopt self-developed Wi-Fi 7 chips. Additionally, Broadcom's collaboration plans with OpenAI and TSMC are noteworthy.
Boeing, in fourteenth place, dropped 3.24% with a trading volume of $4.292 billion. Boeing dissolved its global diversity, equity, and inclusion department and skipped China's largest airshow due to cost-cutting. The company maintained its hold rating, with the target price unchanged.
SMIC, ranked fifteenth, fell 11.98% with a trading volume of $3.683 billion. Ernst & Young resigned as SMIC's auditor, questioning its governance and ethical integrity, causing market turbulence.
Trump Media & Technology, in sixteenth place, decreased by 11.72% with a trading volume of $3.621 billion. Trump Media & Technology experienced significant volatility ahead of the upcoming U.S. presidential election, with heavy selling among retail investors.
Coinbase Global, ranked seventeenth, fell 15.34% with a trading volume of $3.533 billion. Coinbase's Q3 total revenue increased nearly 79% year-over-year but missed market expectations. The company also announced a $1 billion buyback plan.
Carvana, in eighteenth place, rose 19.23% with a trading volume of $3.346 billion. Carvana reported strong third-quarter results, leading to a significant stock price surge and analysts raising target prices.
Mastercard, ranked nineteenth, fell 2.81% with a trading volume of $2.785 billion. Mastercard's Q3 revenue grew by 13%, and it forecasts continued growth in operating income in the fourth quarter amid healthy consumer spending.
TSMC, in twentieth place, decreased by 2.02% with a trading volume of $2.440 billion. TSMC's AI self-developed chip project in collaboration with OpenAI is attracting attention, with expectations to start from the 3nm process.
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