On Thursday, the primary U.S. stock market benchmarks closed higher, with the S&P 500 increasing by 0.74% to reach 5,199.06, while the Nasdaq surged by 1.7% to hit 16,442.20. Conversely, the Dow Jones Industrial Average remained relatively steady, ending the day at 38,459.08.
Apple Inc. (NASDAQ:AAPL)
Apple shares rose by 4.33%, closing at $175.04. The stock's intraday high was $175.46, with a low of $168.16. The 52-week high and low stand at $199.62 and $159.78 respectively. The tech giant is reportedly planning an overhaul of its sluggish Mac line, which may have contributed to the stock's performance. The Cupertino-based tech giant is gearing up to make its next line of chips to succeed the M3. The new chip — the M4 processor — will come in at least three main varieties and be incorporated into every Mac model.
Rivian Automotive, Inc. (NASDAQ:RIVN)
Rivian's shares dipped by 6.82%, closing at $9.57. The stock hit a new all-time low of $9.38, with an intraday high of $10.3. Over the past 52 weeks, the stock has fluctuated between $28.06 and $9.38. Concerns about the company's future may have influenced the stock's performance.
Amazon.com Inc. (NASDAQ:AMZN)
Amazon shares increased by 1.67%, closing at an all-time high of $189.05. The stock's intraday high was $189.77, with a low of $185.51. The 52-week high and low are $189.77 and $97.71 respectively.
Amazon's shares reached a new all-time high of $189.05 on Thursday, edging closer to a $2 trillion valuation with a market capitalization of $1.932 trillion. CEO Andy Jassy highlighted the company's focus on artificial intelligence in his annual shareholder letter, discussing plans to enhance Alexa and utilize generative AI for improved customer experiences. Analysts predict an average 1-year price target of $209.70 for AMZN stock, with bullish ratings from 23 analysts and a high target of $235 from DA Davidson.
Nikola Corporation (NASDAQ:NKLA)
Nikola shares plummeted by 26.73%, closing at $0.72. The stock's intraday high was $0.94, with a low of $0.71. The 52-week high and low stand at $3.71 and $0.52 respectively.
Nikola's shares were down in premarket trading on Thursday after Wolfe Research initiated coverage with a Peer Perform rating, citing hurdles like sparse charging infrastructure and high hydrogen expenses for fuel cell electric vehicles.
Tesla, Inc. (NASDAQ:TSLA)
Tesla shares rose by 1.65%, closing at $174.60. The stock's intraday high was $175.88, with a low of $168.51. The 52-week high and low are $299.29 and $152.37 respectively. Despite recent market turbulence, signs of recovery are evident in the stock's performance.
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