Magnificent Seven Stocks: Nvidia Stock, Tesla Slide; Microsoft Earnings Next

Magnificent Seven Stocks Performance

Source: IBD Data As Of July 12, 2024

Magnificent Seven Stocks: Amazon Below Buy Point

Amazon.com (AMZN) is beneath a 191.70 buy point successful a level basal aft caller losses. Amazon roseate 0.4% Tuesday, inactive beneath its cardinal 50-day line. A dense measurement autumn done this level would beryllium a merchantability awesome for investors to watch.

In precocious April, the e-commerce elephantine reported first-quarter net and income that exceeded expectations, helped by beardown maturation for its cloud-computing and advertizing businesses.

Through its Amazon Bedrock platform, the e-commerce and unreality elephantine provides a afloat managed work offering a prime of high-performing instauration models (FMs) from starring AI companies like AI21 Labs, Anthropic, Cohere, Meta and Stability AI.

Alphabet Slides On Earnings

Google genitor Alphabet (GOOGL) acceptable caller highs successful caller weeks, sharply supra a 153.78 entry. The banal climbed 0.3% Tuesday, inactive sharply beneath its 50-day enactment aft past week's decline.

Last week, Google-parent Alphabet reported second-quarter net and gross that topped expert estimates arsenic operating margins improved. Management besides signaled higher expenses successful the September quarter, curtailing borderline growth.

Nvidia Stock Leads Magnificent Seven

Among the Magnificent Seven stocks, Nvidia (NVDA) is the apical performer successful 2024, with a scorching 157% year-to-date instrumentality done July 12.

Nvidia banal declined 3.5% Tuesday, further beneath the 50-day moving mean line, a cardinal level to watch. A breach of that level successful dense measurement would beryllium a merchantability signal, portion a decisive bounce would beryllium a caller bargain trigger.

In caller weeks, the banal soared aft the AI elephantine bushed Wall Street's targets for its fiscal archetypal 4th and guided higher than views for the existent period. It besides announced a 10-for-1 banal divided that took effect connected June 10.

The tech titan is an IBD Leaderboard stock. Nvidia banal topped a split-adjusted grip buy point astatine 92.22, and shares gapped up to all-time highs. Nvidia banal besides moved supra a split-adjusted introduction astatine 97.40.

Tesla Stock Falls

Tesla (TSLA) dropped 0.3% Tuesday. Shares closed past week astatine their lowest level since aboriginal July pursuing the company's Q2 net report.

Last week, electric-vehicle elephantine Tesla announced mixed second-quarter net and revenue. Earnings plummeted by much than 40% portion income came successful supra expectations.

Dow Jones Stocks In Magnificent 7: Apple, Microsoft

Two Dow Jones names among the Magnificent Seven stocks, Apple (AAPL) and Microsoft (MSFT), traded higher connected the stock marketplace today.

Apple stock moved up 0.4% Tuesday, inactive retired of bargain scope supra a 199.62 entry. Apple deed a grounds precocious connected July 15.

In aboriginal May, Apple narrowly beat Wall Street's estimates for its fiscal 2nd quarter. The iPhone shaper besides raised its quarterly dividend and banal buyback plan.