Phoenix Network Technology News, August 3, Beijing time, the manufacturing index fell to 59.5 in July, which was lower than analysts’ expectations and rose to 61 from 60.6, prompting the market to worry about the economic recovery process again. US stocks rose and fell mixed, and the Nasdaq closed higher. . As of the close, the Dow fell 97.31 points, or 0.28%, to close at 34,838.16 points; the S&P 500 index fell 8.1 points, or 0.18%, to close at 4387.16 points; the Nasdaq rose 8.39 points, or 0.06%, to close at 14681.07 point.
Major Chinese technology stocks
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Alibaba’s first-quarter cloud computing revenue will grow 49.8% to US$2.62 billion
Alibaba will release its financial report for the first quarter of fiscal year 2022 tomorrow, and Wall Street expects strong growth in its cloud computing business.
Cloud computing has proven itself to be one of the main contributors to Alibaba’s revenue growth. In the last quarter, cloud computing business revenue increased by 37% to RMB 2.56 billion, accounting for 9% of total revenue. Zacks expects Alibaba’s cloud computing business revenue to increase by 49.8% to $2.62 billion in the first fiscal quarter.
Alibaba’s powerful cloud computing service products help it meet the growing demand for cloud computing infrastructure. Increasing spending by corporate customers may drive the growth of cloud computing business revenue in the first fiscal quarter.
Alibaba’s expanding cloud computing business is encouraging, and the global data center network will help drive the growth of its first-quarter performance.
Currently, Zacks has a “sell” rating on Alibaba stock.
In regular transactions, Alibaba rose 4.9 US dollars, or 2.51%, to close at 200.09 US dollars.
In July, Weilai’s delivery volume not only negatively increased from the previous month, but also surpassed by Xiaopeng and Ideal for the first time
Although there was a substantial increase in July, the delivery volume of Weilai was lower than ideal and Xiaopeng, which was the first time.
In July, Weilai delivered 7,931 cars, down from 8,083 in June. Although it is not far from 8,000 vehicles, Weilai’s stock price usually falls after the delivery volume declines from the previous month. The delivery volume of Weilai in February, April, and May was lower than that in January, March, and April, respectively. After each disclosure of the month-on-month decline in delivery volume, Weilai’s stock price has fallen.
But this time may be an exception. In today’s pre-market trading, Weilai’s share price rose by 0.7%, but ideal and Xiaopeng once rose between 4% and 5%.
In July this year, the Xiaopeng and ideal deliveries were 8,040 and 8,589 respectively, both setting new records.
In terms of market value, Weilai is still the big brother of the three major Chinese electric car manufacturers listed in the United States, but its stock price has not performed well recently. In the past three months, it has risen by 12%. Xiaopeng Motors and Ideal have risen by 36% respectively. And 69%.
In regular trading, Weilai rose 1.17 US dollars, or 2.62%, to close at 45.85 US dollars.
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Google this year’s flagship model will use its own chip to abandon Qualcomm Snapdragon
Google announced on Monday that it will produce smartphone chips called Google Tensor for the Pixel 6 and Pixel 6 Pro phones scheduled to be released this fall.
After developing its own mobile phone chips, Google will abandon Qualcomm products. Qualcomm said it will continue to work closely with Google on current and future products based on the Snapdragon platform.
For Google, this is a strategic “shift”. In recent years, Google has been committed to improving the affordability of Pixel devices, rather than developing high-end mobile phones. This shows that Google is once again trying to compete with Apple and Samsung in the flagship mobile phone market.
In today’s regular trading, Google’s parent company Alphabet’s share price rose $15.37, or 0.57%, to close at $2719.79; Qualcomm’s stock price fell $0.94, or 0.63%, to close at $148.86, which was a high of $152.27 during the session.
Significant growth in shipments of Chinese competitors drives Tesla’s stock price up
An analyst raised the target stock price and investors expected that the Chinese market’s shipments would increase substantially like domestic competitors. This drove Tesla’s stock price up 22.47 US dollars in today’s regular trading, or 3.27%, to close at 709.67 US dollars. , The intraday touched a high of 726.88 US dollars.
After Weilai, Xiaopeng Motors and Ideal Motors all reported a substantial increase in shipments in July, investors expect Tesla’s Shanghai factory shipments to also increase significantly.
Mizuho Securities analyst Vijay Rakesh (Vijay Rakesh) raised Tesla’s target stock price to $825, which means that its stock price has more than 16% upside from today’s closing price. (Author/frost leaves)
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