Nvidia, the number one in US stock turnover, closed 7.09% higher on Monday, the biggest one-day increase since May 26, with transactions of US$28.738 billion. Morgan Stanley said the recent drop in Nvidia's stock price was a “good entry point” for investors. DAMO rated Nvidia as an “increase in holdings,” with a target price of $500.
Nvidia had previously declined for the fourth consecutive trading day, closing down 3.62% last Friday (August 11). At that time, the company's market capitalization was $109 billion. After the opening of the market on Monday, the stock price dropped to 403.11 US dollars, causing its market value to fall below the $1 trillion mark, but then rebounded strongly, rising to a high of 438 US dollars. As a result, the trillion mark was lost and recovered.
Nvidia will announce its results after the US stock market closes on August 23. Morgan Stanley listed Nvidia as the “top pick” (top pick) in the research report, adding that “Nvidia's revenue expectations look promising, and the company's continued innovation and investment in emerging technologies played an important role in its success path.”
However, famous value investor Guy Spier (Guy Spier) recently stated that he does not hold any shares of Nvidia and has no plans to invest in the company. He thinks the stock is currently too expensive and advises investors to stay away.
The second-place Tesla closed down 1.19% and traded $23.321 billion. Tesla (China) announced on Monday that from now until September 30, consumers who purchase the current rear-wheel drive version of the Model 3 and complete delivery will receive an insurance subsidy of 8,000 yuan. At the same time, the prices of some Model Y models have also been reduced by 14,000 yuan. Among them, the price of the long-life model was adjusted to 299,900 yuan, and the price of the high-performance model was adjusted to 349,900 yuan. In fact, before Tesla cut prices, a number of new energy vehicle companies had already cut prices and promoted a series of small-scale “price wars” for new energy sources.
Also, according to Indonesian Ocean and Investment Coordinating Minister Luhut on the 14th, Tesla CEO Musk has decided to “postpone any of Tesla's investments globally within the next year and a half, including promised investments in Mexico,” due to “concerns about the world economic situation.”
3rd place Johnson & Johnson closed down 0.24% with a transaction of US$10.829 billion. Johnson & Johnson's Janssen division announced that the US FDA has approved its oral anti-cancer drug Akeega as an adult combination treatment for certain metastatic castration-resistant prostate cancer (mCRPC).
Apple, the fourth-ranked company, closed 0.94% higher, with transactions of 7.765 billion US dollars. According to the US Securities and Exchange Commission (SEC), Citigroup has submitted its second quarter position report (13F) for the period ending June 30, 2023. The report shows that Citibank increased its holdings in star technology stocks such as Microsoft, Amazon, Nvidia, Alphabet, and Tesla again in the second quarter, but reduced its holdings of Apple for two consecutive quarters.
The 5th place Amazon closed 1.56% higher with transactions of US$6.463 billion.
The 6th place AMD closed 4.1% higher and traded $6.239 billion. Wedbush analyst Dan Ives said, “We are now in the AI use case study and construction phase, which will eventually prepare for a large-scale spending cycle.” He expects companies such as Nvidia, Microsoft, Apple, Google, Oracle, Palantir, MongoDB, Snowflake, Saifu Time, AMD, and C3.ai to benefit from it.
In 7th place, Microsoft closed 0.94% higher with transactions of US$5.976 billion.
The 9th ranking American Steel Company closed up 36.8% to trade US$3.391 billion. US Steel declined a $7.25 billion takeover offer from Cleveland Cliffs (Cleveland Cliffs), the largest US iron ore producer, on Sunday and will begin evaluating other strategic options.
Cleveland Cliff said in a statement on Sunday that it is proposing to buy every American Steel stock for $17.50 in cash and 1.023 shares of the company's shares. This means a value of $32.53 per share, a 43% premium over American Steel's closing price of $22.72 last Friday.
The 13th place Lilly Pharmaceuticals closed 2.06% higher with transactions of US$2.131 billion. According to reports, Lilly has initiated an international multi-center (including China) phase 3 clinical study (ATTAIN-1 study) to evaluate the efficacy and safety of LY3502970 compared to placebo in subjects who are obese or overweight with weight-related comorbidities.
The 14th place, Kenvue, closed down 3.29% and traded $2,063 million. Kenvue, formerly a subsidiary of Johnson & Johnson's consumer health business, was listed on the New York Stock Exchange on May 3 this year.
The 16th ranked Alibaba closed down 2.36% with transactions of US$1,576 million.
In 18th place, Micron closed 6.07% higher with a transaction of US$1,447 million.
The following are the 20 most actively traded US stocks on the same day (by turnover):
