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Tech Titans Rally: Nvidia Surpasses Apple, Tesla Jumps 3%

  • News
  • 2024-07-08
  • 24 comments

On October 25th local time, U.S. stocks closed mixed, with the Dow Jones Industrial Average down 0.61%, the Nasdaq Composite up 0.56%, and the S&P 500 index down 0.03%.

The "Tech Seven Sisters" collectively rose. Apple closed up 0.36%. A "highly confidential" blood sugar test by Apple was exposed, which may reveal the direction of Apple's future development in the health field and could assist in Apple's approximately fifteen-year-old mysterious blood sugar monitoring project. Blood sugar tracking and diet recording may be two important areas of expansion for Apple in the future, as the company explores products that can detect diabetes and attempts to independently develop needle-free blood sensors, making progress.

Industry insiders say that this technology can not only help diabetic patients monitor their conditions but also provide blood sugar advice and reminders to potential or early-stage users. Therefore, the device has a broad application prospect, and the age group covered by the Apple Watch will be greatly expanded.

Amazon closed up 0.78%; Microsoft closed up 0.81%; Meta closed up 0.96%; Google A closed up 1.57%, up 1.13% for the week, planning to release the next Gemini 2.0 model in December.

Nvidia closed up 0.8%, at $141.54, with a market value of $3.5 trillion. Nvidia's market value briefly surpassed Apple during the trading session.

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Tesla closed up 3.34%, at $269.19, with a market value of $864.12 billion. On Wednesday, October 23rd local time, after the U.S. stock market closed, Tesla announced its financial data for the third quarter of 2024. The data shows that Tesla's revenue increased by nearly 8% year-on-year in the third quarter, still below expectations, but the profit was a pleasant surprise, with the gross margin rising 195 basis points year-on-year to 19.8%, and the automotive business gross margin exceeded expectations, rising to 17.1%; "carbon selling" revenue increased by more than 30% year-on-year, setting a new quarterly high.

Cryptocurrency stocks generally fell, with Riot Platforms down 5.40%, MARA Holdings down 6.37%, and Canaan Technology down 4.79%. This follows reports that the U.S. federal government is investigating whether cryptocurrency company Tether may have violated sanctions and anti-money laundering regulations.

WTI December crude oil futures closed up $1.59, a 2.27% increase, at $71.78 per barrel, up 4.50% for the week. Brent December crude oil futures closed up $1.67, a 2.25% increase, at $76.05 per barrel, up 4.09% for the week.

International precious metal futures closed slightly higher, with COMEX gold futures up 0.43% at $2,760.8 per ounce, and COMEX silver futures up 0.25% at $33.88 per ounce.

Popular Chinese concept stocks generally rose, with the NASDAQ Golden Dragon China Index up 1.38%. XPeng Motors rose by more than 6%, NIO, Li Auto, and Futu Holdings rose by more than 5%, Bilibili rose by more than 3%, Weibo rose by more than 2%, JD.com, Alibaba, and NetEase rose by more than 1%, Pinduoduo, iQIYI, Tencent Music, Baidu, and Vipshop rose slightly. Full Truck Alliance fell slightly.

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