Home Finance News Top movers: Apple, Tesla, AMD, Taiwan Semi, Super Micro, Carvana, Intuit.

Top movers: Apple, Tesla, AMD, Taiwan Semi, Super Micro, Carvana, Intuit.

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Top movers: Apple, Tesla, AMD, Taiwan Semi, Super Micro, Carvana, Intuit.

In a notable turn of events, Apple’s stock price experienced a 1.5% increase to $233.17, following the adjustment of their price target to $260 by Needham analysts. It was further reported that Apple is gearing up to ship a significant number of iPhone 16 devices in the latter half of 2024, with hopes that their artificial-intelligence strategy will generate demand. This move solidified Apple’s position as the first company to close with a market value exceeding $3.5 trillion, ending the day with a market capitalization of $3.507 trillion.

Meanwhile, Tesla saw a 0.7% rise to $264.37 as analysts at Goldman Sachs raised their price target to $248 from $175, maintaining a Hold rating on the stock. Advanced Micro Devices also experienced a positive shift, with a 3.6% increase in their stock price following the announcement of their acquisition of Silo AI, the largest private artificial-intelligence lab in Europe, in a transaction valued at approximately $665 million. These developments indicate a growing trend towards investments in artificial intelligence within the technology sector.

Additionally, Taiwan Semiconductor Manufacturing reported a significant jump in sales during June, with second-quarter sales surging 40% to NT$673.5 billion, outperforming analysts’ forecasts. This boost in sales was attributed to the increasing demand for artificial intelligence, highlighting the company’s strategic positioning within the industry. As U.S.-listed shares of Taiwan Semiconductor, along with other technology companies like Nvidia, rose by 3.1%, it became evident that advancements in artificial intelligence continue to drive growth and innovation within the tech sector.

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