Tuesday Aug 6 2024 09:16
7 min
The most active US stocks are a group of high-performing and influential companies in the U.S. stock market. The performance of these stocks is driven by technological innovation, market dominance, financial performance, brand equity, research and development, and global economic conditions.
1. Amazon
Amazon.com, Inc., founded by Jeff Bezos in 1994, has evolved from an online bookstore into one of the world's largest and most diversified technology companies. Headquartered in Seattle, Washington, Amazon initially gained prominence for its e-commerce platform, which revolutionized online shopping with a vast selection of products and convenient delivery options.
The e-commerce giant has a strong edge in growing its advertising business. Amazon (AMZN -0.34%) recently achieved a milestone by surpassing a $2 trillion market cap for the first time. This achievement comes not long after crossing the $1 trillion mark, indicating its rapid growth trajectory. With its stock already up 27% this year, Amazon continues to benefit from robust growth drivers. Looking ahead, speculation suggests potential for further gains, possibly setting sights on a $3 trillion market cap, which would represent a significant increase from current levels.
2. NVIDIA
NVIDIA Corporation, commonly known as NVIDIA, is a leading technology company renowned for its innovations in graphics processing units (GPUs) and AI computing. Founded in 1993 by Jensen Huang, Chris Malachowsky, and Curtis Priem, NVIDIA initially focused on gaming GPUs, rapidly becoming a dominant force in the gaming industry.
While demand for the company's GPUs remains high, many alternatives are beginning to emerge, Nvidia is the best-performing stock among its "Magnificent Seven" peers so far in 2024. Nvidia (NVDA -2.61%) has surged an impressive 145% year-to-date in 2024, solidifying its position as the standout performer among the "Magnificent Seven." With the AI revolution still in its infancy, there's substantial optimism that Nvidia's growth trajectory remains robust. However, prudent investors recognize that stock appreciation is not indefinite.
3. Meta
Meta Platforms, Inc., formerly known as Facebook, Inc., underwent a rebranding in late 2021 to reflect its evolving focus beyond social media. Founded by Mark Zuckerberg and his college roommates in 2004, Meta is a global technology company headquartered in Menlo Park, California.
Meta Platforms has experienced a decline over the past five consecutive trading days, culminating in a 5.7% drop in Meta stock on Wednesday. Despite a year-to-date increase of 31%, the stock has retreated by 15% from its intraday peak of 542.81, which was reached on July 8. Pre-market trading indicates a slight upward trend in Meta shares.
4. Tesla
Tesla, Inc. is a pioneering electric vehicle (EV) manufacturer and clean energy company founded in 2003 by engineers Martin Eberhard and Marc Tarpenning. Elon Musk, JB Straubel, and Ian Wright joined shortly after, with Musk assuming leadership as CEO and guiding Tesla to prominence.
Tesla's stock (TSLA) has rebounded approximately 72% from its April 2024 low, driven by optimism surrounding its Cybertruck, recent earnings performance, and anticipation for its Robotaxi initiative, albeit delayed. However, I hold the view that Tesla's Robotaxi venture has underperformed expectations. The practicality of autonomous taxis and electric vehicles (EVs) may be overestimated by investors, especially considering that hybrid vehicle sales surpassed EV sales in 2023.
5. Intel
Intel Corporation, founded in 1968, is a global leader in semiconductor manufacturing, designing essential technologies powering computers and countless devices worldwide. Renowned for its CPUs (central processing units) that form the heart of PCs and servers, Intel has played a pivotal role in shaping the digital era.
Intel's (NASDAQ: INTC) stock popped 1% in mid-day trading on July 17, hitting as high as $37.16 per share before ending the day at $34.46. That growth alone isn't particularly noteworthy. The company is a leading recipient of President Biden's CHIPS Act, an initiative meant to expand the U.S.'s chip manufacturing capacity. Intel is slated to receive $8.5 billion from the U.S. government to help fund its foundry expansion.
6. Apple
Apple Inc., founded by Steve Jobs, Steve Wozniak, and Ronald Wayne in 1976, is a global technology company renowned for its innovative products and services. Headquartered in Cupertino, California, Apple has established itself as a leader in consumer electronics, software, and digital services.
Apple's stock has outperformed Microsoft, Alphabet, and Nvidia over the last month. The company is finally benefitting from hype over AI as it is gearing up to launch new products. Apple's stock (AAPL 0.06%) has surged 8% over the past month, reaching a record high of $237 per share in mid-July. This performance stands out as Apple has outpaced prominent players in artificial intelligence (AI) such as Microsoft, Alphabet, and even Nvidia. The recent growth marks a notable turnaround for Apple following a sluggish start in the first half of the year.
7. Serve Robotics Inc (SERV)
As of my last update in January 2022, Serve Robotics Inc. (SERV) is a company focused on robotics and automation, specifically in the realm of food delivery. Founded by George Matus and Matt Johnson-Roberson, Serve Robotics aims to revolutionize food delivery through autonomous robots. These robots are designed to navigate sidewalks and deliver food orders to customers, potentially transforming how food is delivered in urban environments.
Serve Robotics (NASDAQ: SERV) shares surged dramatically by 187% today following Nvidia's (NASDAQ: NVDA) announcement of a significant new investment in the company. While the surge is a significant victory for SERV investors, the stock remains heavily in negative territory for the year. SERV has declined approximately 69% year-to-date, contrasting sharply with the S&P 500, which has risen by 16% over the same period.
When considering shares, indices, forex (foreign exchange) and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and could result in capital loss.
Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be construed to be investment advice.