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Tesla's recent delivery announcement caused a significant surge in its shares, recovering nearly all 2024 losses. The company delivered about 444,000 cars in the second quarter, beating forecasts and lower estimates, which led to a 10% jump in stock price. By Wednesday, shares reached $248.35, just below the end-of-2023 level, marking a rebound from $140 in April. This rally added almost $30 billion to CEO Elon Musk's wealth.
Rivian Automotive reported strong Q2 deliveries of 13,790 vehicles, a 9% year-over-year increase, surpassing Wall Street’s expectation of 12,000 units. However, production dropped to approximately 9,600 vehicles from nearly 14,000 in Q1 2024. Rivian aims to produce about 57,000 vehicles in 2024, needing around 17,000 per quarter in the second half of the year. Rivian's stock rose 6.97% to $14.89 on Tuesday, though it fell slightly post-delivery report. The stock…
The entertainment giant returned to box office hits with Inside Out 2 and its $1 trillion gross, in another indication that the turnaround efforts are making an impact, but the stock remains in a precarious position
The sportswear giant’s hardships continue as it posted revenue contraction of 2% in Q4 FY24, expects deeper drop in the current quarter and downgraded its full year guidance
Amazon.com reached a $2 trillion market capitalisation on Wednesday, driven by a 3.3% stock increase to $193.61. This milestone highlights the ongoing surge in tech stock prices, with Amazon's shares up 9% this month, 27% this year, and 49% over the past 12 months. The rise is part of a broader trend, as investors flock to tech companies linked to generative AI. Microsoft leads U.S. companies with a $3.36 trillion…
After last week’s all-time highs, NVDA experienced a sharp correction, which brings it close to bear territory
Tesla stock surged yesterday, outpacing the Nasdaq Composite with a 5.3% rise to $187.44, while the S&P 500 and Nasdaq gained 0.8% and 1%, respectively. The main catalyst was the re-approval of CEO Elon Musk’s 2018 pay package, which grants him 300 million stock options. This revote was necessary after a court ruling invalidated the original approval due to disclosure issues. Announced on Musk’s social-media platform X, the renewed approval…
The tech heavy index rose to new all-time highs as AI optimism was reinvigorated by Apple’s announcements and CPI inflation cooled, looking past the Fed’s one-cut projections
With it being just over 1.5 years since OpenAI introduced ChatGPT, Apple has unveiled its comprehensive AI strategy, Apple Intelligence. This technology will only be available on iPhone 15 Pro and Pro Max models, which make up about 5% of the current iPhone user base due to hardware requirements. This move aims to drive sales of the high-end models by offering unique AI capabilities, as detailed in Apple's presentation at…
The tech-heavy index reached new all-time highs, helped by Nvidia’s rise after the announcement of new Artificial Intelligence chips
HKG33 posted its first losing week in more than a month, weighed by geopolitical jitters, while Xiaomi’s strong results did not help either
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