On a break from the AI chip stocks, the heavyweight stocks are taking off.
NVIDIA, Taiwan Semiconductor, AMD, and SMCI all fell overnight, while Microsoft, Alphabet-C, and Apple all rose. Microsoft surged 2.44% to a new high, with a market value of $3.16 trillion and a P/E ratio of 38.4, continuing to rise by nearly 0.6% in pre-market trading.
It's worth mentioning that today is the first options expiration day of the year - Quadruple Witching Day. The trading situation of the most popular NVIDIA options is expected to be one of the focal points. Quadruple Witching Day is a quarterly financial derivatives expiration day in the U.S., occurring on the third Friday of March, June, September, and December each year, when stock index futures, stock index options, individual stock futures, and individual stock options all expire simultaneously. The last trading hour of the day is called the &#34;Quadruple Witching Hour,&#34; during which investors rush to close positions, often leading to a sharp increase in trading volume and increased market volatility. Therefore, Quadruple Witching Day is usually accompanied by significant short-term fluctuations in stock and derivative prices.
NVIDIA, Taiwan Semiconductor, AMD, and others are leading the way in popularity.
Tesla ranks third in popularity, dropping another 4.1% overnight, nearly 10% in the past three trading days. Currently, it is up 1.3% in pre-market trading. Tesla's decline is related to both its own drop and some major banks lowering their target prices.
However, there are bullish views from investment banks. Tom Narayan, an analyst at RBC Capital Markets, remains optimistic about its long-term prospects. He believes that Tesla is currently between two waves, with the Model 3 and Model Y essentially saturated and waiting for the next major boost expected from a mass-market model priced below $30,000, which is expected to go into production in the second half of next year. RBC reiterated a &#34;buy&#34; rating on Tesla with a target price of $298. In Narayan's valuation model, only 10% is based on Tesla's core automotive business, with the rest relying on Tesla's autonomous driving and energy storage business.
Blockchain concept stock MSTR ranks sixth in popularity, falling 5% overnight and over 7% in pre-market trading due to a slight pullback in BTC.
Adobe ranks seventh in popularity, with revenue and profit exceeding expectations, but performance guidance falling short of expectations, leading to a significant pre-market drop of over 11%. Previously, with OpenAI's launch of the text-to-video tool Sora last month, Adobe faces intensified challenges. The emergence of Sora means a significant reduction in the barrier to video production, potentially disrupting existing video production tools. Since the launch of Sora, Adobe's stock price has plummeted by over 11% in the short term.
NVIDIA's holding stock SOUN ranked tenth in popularity, opening high and closing low overnight, with a high intraday volatility of up to 31%, possibly indicating the end of the second wave of the uptrend;
Medical beauty stock ULTA ranked eleventh in popularity, with performance below expectations, and annual profits declining. Ulta Beauty stated that the competition in the beauty industry is becoming increasingly fierce;
Boeing ranked twelfth in popularity, with the death of the whistleblower on safety issues, and safety concerns still drawing market attention.
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Data source: apewisdom, the most discussed stocks in the past 24 hours
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TSLA

MSFT

SMCI

MSTR

ADBE

SOUN

ULTA

Adobe's revenue and profit exceeded expectations, but its guidance fell short of expectations, leading to a pre-market plunge of over 11%.

LB Select

Tesla

Microsoft

Taiwan Semiconductor

Super Micro Computer

Strategy

Adobe

SoundHound AI

Boeing

Ulta Beauty

WSB is buzzing about it | Target price of $298, RBC reiterates a Buy rating on Tesla.