Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our website policy prior to making financial decisions.
Three tech giants are making headlines in a volatile market for different reasons. Tesla’s (NASDAQ: TSLA) stock surged on better-than-expected delivery numbers, while Nvidia (NASDAQ: NVDA) faces potential antitrust charges in France. Meanwhile, First Solar (NASDAQ: FSLR) sees a price target adjustment from analysts. Here’s a closer look at the latest developments for these closely watched stocks.
Tesla (TSLA) Reports Better than Expected Q2 Delivery Numbers
Tesla’s stock is on a tear, surging 8.93% to $228.59 as of 12:21 PM EDT on Tuesday. The electric vehicle maker delivered a positive surprise with its second-quarter delivery numbers, reporting 443,956 vehicles delivered, beating Wall Street estimates of 438,000. This marks Tesla’s first delivery beat in four quarters, despite a 4.7% year-over-year decline.The Model 3 and Model Y accounted for the bulk of deliveries at 422,405 units. Despite the recent rally, Tesla’s stock remains down 8% year-to-date, with a market capitalization of $729.051 billion. Analysts are hailing this as a “huge comeback” for the EV giant, with the stock rising for the sixth consecutive trading day.
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Nvidia (NVDA) Reportedly to Face Antitrust Charges
Nvidia’s stock is facing headwinds, down 1.69% to $122.20 as of 12:22 PM EDT. The chip maker is reportedly set to face antitrust charges from French regulators for allegedly anti-competitive practices.This would mark the first enforcer to act against Nvidia, following dawn raids in the graphics cards sector last September. The investigation is part of a broader inquiry into cloud computing, with concerns raised about the sector’s dependence on Nvidia’s CUDA chip programming software.Despite these challenges, Nvidia’s stock has shown remarkable performance year-to-date, up 146.85% with a staggering market cap of $3.007 trillion. Analysts even discuss the potential for a $10 trillion valuation, highlighting the company’s dominant position in the AI chip market.
First Solar (FSLR) Stock Dips After Analyst Lower Price Target
First Solar’s stock is experiencing a pullback, down 3.53% to $214.85 as of 12:21 PM EDT. This comes as Robert W. Baird lowered its price target for the company from $344.00 to $307.00 while maintaining an “outperform” rating.Despite the reduction, the new target still suggests a 37.85% upside from the previous close. First Solar reported strong first-quarter earnings of $2.20 per share, beating estimates, with revenue up 44.8% year-over-year to $794.10 million. The company’s consensus rating remains a “Moderate Buy” with an average price target of $266.04.With a market cap of $22.971 billion and a PE ratio of 23.34, First Solar continues to be a significant player in the solar energy sector. Despite today’s dip, its year-to-date return is 24.56%.
Disclaimer: The author does not hold or have a position in any securities discussed in the article.
The post Stocks to Watch Today: Tesla, Nvidia, and First Solar appeared first on Tokenist.
