No. 1 in US stock turnover on Friday $NVIDIA (NVDA.US)$ It closed down 0.21% and traded at $30.51 billion.
According to TrendForce Jibang Consulting's latest HBM report, with the iteration of AI chips, the HBM (high bandwidth memory) capacity of a single chip has also increased markedly. Nvidia is currently the largest buyer in the HBM market. It is expected that after launching products such as Blackwell Ultra and B200A in 2025, its procurement share in the HBM market will exceed 70%. Nvidia's share of HBM3e consumption is expected to exceed 85% by 2025.
Mizuho raised Nvidia's price target from $127.5 to $132.
Second place$Tesla (TSLA.US)$It closed 0.58% higher at $11.64 billion. Tesla's electric semi-trailer truck business development director for the Semi project said on Friday that the company is “taking steps to bring the Semi to Europe.” Tesla is hiring for the position of “Head of Business Development — Semi Truck EMEA (Amsterdam or Berlin)”. According to the job description, the position is responsible for developing/maintaining customer relationships and developing plans for Tesla's future Semi truck deployments.
Furthermore, according to media reports on Wednesday, citing government sources, Tesla abandoned plans to build an electric vehicle factory in Thailand and instead focused on expanding its local charging network.
According to reports, Tesla has also shelved plans to build factories in other regions of the world. Apart from China, the US, and Germany, which already have gigafactories, the company will not continue to build factories in Malaysia, Indonesia, or anywhere else.
In response to rumors that Tesla has cancelled the construction of a factory in Southeast Asia, Malaysian Minister of Investment, Trade and Industry Zafr responded on Thursday that Tesla has never promised to build a factory in Malaysia. He also questioned the accuracy of the relevant reports.
3rd place $Apple (AAPL.US)$ It closed 1.37% higher at $9.08 billion. Apple recently adjusted its policy in the EU to respond to the European Commission's accusation in June of violating technical rules. Under the new policy, Apple now allows developers to communicate with customers outside of the App Store, which marks a concession in the game with regulators.
The European Commission previously stated that Apple only allows users to be guided through “links”, that is, developers can include a link within the app to redirect customers to a web page where they can sign a contract. Apple announced this time that developers can now promote offers that can be used anywhere within the app, and are no longer limited to their own websites.
4th place $Microsoft (MSFT.US)$ It closed up 0.83% and traded at $7.82 billion. This week Palantir signed an agreement with Microsoft to provide artificial intelligence services to the defense and intelligence community. Under the agreement, the two companies will integrate Microsoft's big language model with Palantir's AI platform in Microsoft's government and confidential cloud environments through Azure OpenAI services.
5th place$Meta Platforms (META.US)$It closed 1.60% higher at $7.03 billion. According to media reports on Thursday, Google and Meta Platforms reached a secret agreement aimed at running Instagram ads to teenagers through YouTube to bypass Google's own rules of online conduct for minors.
6th place$Amazon (AMZN.US)$It closed 0.69% higher at $6.08 billion. On August 10, Amazon announced financial reports. The announcement showed that the company's net profit for the second fiscal quarter of fiscal year 2024 was 13.485 billion US dollars, an increase of 99.78% year on year; of these, operating income was 1,47.977 billion US dollars, up 10.12% year on year, and basic income per share was 1.29 US dollars.
Looking at the balance sheet, Amazon's total debt is $3,18.371 billion, of which short-term debt is $17.604 billion, the balance to liability ratio is 1.67, and the current ratio is 1.00.
7th place$Eli Lilly and Co (LLY.US)$It closed 5.49% higher and traded $5.87 billion, with a cumulative increase of nearly 11% this week. Eli Lilly's second-fiscal quarter revenue surpassed Wall Street expectations as sales of its blockbuster diet pills soared.
The company's CEO David Ricks said in a statement: “Sales of drugs such as Mounjaro, Zepbound, and Verzenio led strong growth in our financial results in the second fiscal quarter as we advanced our manufacturing expansion process.”
In the three-month period of the second fiscal quarter, Eli Lilly's global revenue was $11.3 billion, exceeding Wall Street's estimate of $9.92 billion. Adjusted earnings per share of $3.92 also beat Wall Street's expectations of $2.60 per share.
The pharmaceutical giant said it raised its full-year revenue forecast by $3 billion due to “the strong performance of Mounjaro and Zepbound,” that is, predicting it to be between $45.4 billion and $46.6 billion.
9th $Alphabet-A (GOOGL.US)$ It closed up 1.01% to $4.61 billion. Some industry experts said on Friday (August 9, 2024) that after winning a landmark antitrust lawsuit against Google, the US Department of Justice will not only weaken the lucrative agreement between Google and Apple, but will also require the judge to take “structural remedies,” such as forcing Google to divest the Android system.
A US federal judge ruled on Monday that Google has an illegal monopoly in order to maintain its dominant position in search engines. This ruling is certainly a huge blow to Google and has the potential to fundamentally change the way it does business.
According to the US Department of Justice, under the agreement between Google and Apple, Google paid Apple 20 billion dollars in 2022 alone to make Google the default search engine for the Safari browser on iPhones, iPads, and Macs.
10th$Taiwan Semiconductor (TSM.US)$It closed 1.56% higher at $3.41 billion. TSMC announced that its consolidated revenue for July was approximately NT$256.953 billion, a record high for a single month, up 23.6% from the previous month and 44.7% from the same period last year. The cumulative revenue from January to July 2024 was approximately NT$1523.17 billion, an increase of 30.5% over the same period last year.
13th $Palantir (PLTR.US)$ It closed 2.49% higher at $2.63 billion. Wedbush Securities said this week Palantir signed an agreement with Microsoft to provide artificial intelligence services to the defense and intelligence community, which could “change the rules of the game” and possibly become a “launch pad” for the Palantir Artificial Intelligence Platform (AIP). The bank maintained Palantir's incremental rating and target price of $38.
Analyst Dan Ives wrote in an investor report: “With the consolidation of this major deal and Microsoft's use of Palantir to provide artificial intelligence and big language model capabilities to the US government, Microsoft is able to accelerate the pace of AI applications, while Palantir will continue to accelerate the adoption of its AI platform by the federal sector.” “We believe this will be the launching pad for the Palantir AIP story to the Ministry of Defense and the wider ecosystem over the next 12 to 18 months.”
18th $Intel (INTC.US)$ It closed down 3.81% to $1.51 billion. Rating agency Moody's (Moody's) downgraded Intel's priority unsecured debt rating from the previous “A3” to “BAA1” on Friday, saying it was concerned about Intel's profitability; its priority unsecured debt rating outlook was also adjusted from “stable” to “negative.” Moody's confirms Intel's Prime-2 short-term commercial paper rating.
Moody's said the downgrade reflects expectations for a sharp decline in Intel's profitability over the next 12-18 months. The agency also predicts that by the end of 2024, the total ratio of Intel's debt to profit without interest, taxes, and amortization (EBITA) will be close to 7 times, and will return to 4 times by 2025.
edit/emily