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As of 9:59 AM EST, major technology stocks experienced a mix of gains and losses. Tesla, Inc. traded at $328.76, down 2.68%, with a market capitalization of $1.06 trillion. Tesla CEO Elon Musk has recently announced job cuts at the National Highway Traffic Safety Administration (NHTSA), the agency responsible for overseeing Tesla sparking controversy about the future of the company.
NVIDIA Corporation saw a modest rise of 0.36%, reaching $134.91, and maintaining a market cap of $3.3 trillion. The tech stock is on a slight rise with its quarterly earnings report release scheduled for Feb 26, 2025. However, Palantir Technologies Inc. experienced a significant decline of 9.80%, with shares priced at $91.42 and a market capitalization of $214.4 billion. The stock is on its fourth continuous day of decline.
Microsoft Corporation slipped 1.76% to $401.04, while its market cap stood at $2.98 trillion. TW Cowen in a statement said that Microsoft has started to cancel leases for AI data center capacity in the U.S., raising concerns regarding whether the OpenAI backer is developing more AI computing power than needed over the long term, as reported by Bloomberg. On the other hand, Apple Inc. gained 0.88%, trading at $247.72, with a valuation of $3.72 trillion. The iPhone maker company’s stock is on a surge after the company said it plans to invest around $500 billion in the U.S. over the next four years.
Meta Platforms, Inc. dropped 1.50% to $673.33, with a market cap of $1.71 trillion. Meanwhile, Amazon.com, Inc. declined 0.90%, pricing at $214.63, with a market valuation of $2.27 trillion.
Lastly, Super Micro Computer, Inc. fell 4.78% to $53.39, with a market cap of $31.26 billion, the stock continues with its decline over the past days.
Disclaimer: This article is for informational purposes only and does not constitute any financial advice.