On Monday, Tesla closed up 5.21% with trading volume of $20.706 billion, ranking third among the top 20 US stocks by trading volume.
Barclays raised its 12-month price target on Tesla from $370 to $450 and upgraded the stock rating to "Overweight." Analysts believe that improving growth prospects for Tesla's core automotive business, signs of an inflection point in its Robotaxi business, and strong demand for its energy storage business are all expected to support the company's valuation. Musk recently stated that he hopes to further develop SpaceX into a conglomerate and intends to absorb Tesla for this purpose. He said, "There would be many benefits to merging these enterprises," and emphasized that SpaceX and Tesla are already linked through multiple shared projects ranging from artificial intelligence to chip manufacturing.
Micron closed up 2.98% with trading volume of $20.372 billion, ranking fourth.
Meta Platforms closed down 1.88% with trading volume of $19.512 billion, ranking fifth. Meta announced plans to raise up to $95 billion through equity financing. The first phase will raise $35 billion through the issuance of common stock and preferred stock, aimed at funding its large-scale artificial intelligence (AI) infrastructure buildout. Meta's first-phase financing includes approximately $22.5 billion in Class A common stock and $12.5 billion in Series A mandatory convertible preferred stock. Meta's major chip suppliers Nvidia, AMD, and Broadcom have expressed interest in subscribing to up to $5 billion worth of shares in total.
Nvidia closed up 2.40% with trading volume of $19.403 billion, ranking sixth.
SpaceX closed down 0.40% with trading volume of $15.158 billion, ranking seventh. SpaceX has signed an equipment financing lease agreement worth approximately $40 billion with Apollo Global Management Inc. to pay for the chips needed to develop its artificial intelligence (AI) business. SpaceX stated in a regulatory filing on Monday that the company will determine the final fixed rate to be paid at the time of pricing, which has not yet been completed. The transaction is expected to be completed before the end of this year, and the lease arrangement is expected to take effect in the first half of next year.
Apple closed down 1.07% with trading volume of $14.521 billion, ranking eighth. Apple's first foldable phone, the iPhone Duo, received complaints about inner screen cracking just days after going on sale. The company has acknowledged that a small number of devices have issues and is offering replacements. Teardown platform iFixit believes that hinge component failure is likely the main cause.
The Brazil ETF-iShares MSCI closed down 19.82% with trading volume of $9.845 billion, ranking ninth. The second round of Brazil's presidential election results came in, with incumbent President Lula reversing the outcome to defeat right-wing candidate Flavio Bolsonaro by 51.76% to 48.24%, securing a fourth presidential term. The market had previously bet on a right-wing victory, and the "Bolsonaro trade" immediately failed, with Brazil's stock, currency, and interest rate markets all being repriced simultaneously.
Microsoft closed up 1.54% with trading volume of $9.581 billion, ranking tenth. Microsoft will offer voluntary severance packages to approximately 60,000 employees to cut costs and adjust its workforce structure for the AI era. Eligible employees account for more than a quarter of its total workforce.
Intel closed up 4.09% with trading volume of $8.797 billion, ranking eleventh. Intel CEO Chen Liwu revealed during a fireside chat at CASPA that he has spoken with Su Zifeng to discuss potential cooperation. He admitted that Intel was too proud in the past and is now doubling down on custom chips, and disclosed that 18A has entered mass production, 14A is progressing strongly, and the 1.0 version PDK will arrive early next year.
Advanced Micro Devices closed up 2.80% with trading volume of $8.779 billion, ranking thirteenth.
SanDisk closed up 1.42% with trading volume of $8.237 billion, ranking fourteenth.
Amazon closed up 0.42% with trading volume of $7.872 billion, ranking fifteenth. Anthropic has obtained a total of $77 billion in additional financing from Google, Amazon, and Broadcom. Each agreement comes with its own specific conditions: Amazon's financing agreement is tied to Anthropic reaching specific milestones in computing power; Google's $20 billion commitment depends in part on whether Anthropic can achieve specific revenue targets. Hyperscale cloud service providers such as Google and Amazon have provided billions of dollars in funding to Anthropic to help this AI startup meet its computing needs, even though the two sides are also competitors. Google and Amazon have cumulatively invested tens of billions of dollars in Anthropic, becoming its largest shareholders.
Google Class A shares closed down 1.06% with trading volume of $7.563 billion, ranking sixteenth.
Broadcom closed up 2.33% with trading volume of $6.066 billion, ranking seventeenth.
Lumentum Holdings Inc. closed up 8.19% with trading volume of $4.867 billion, ranking twentieth.
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