Tesla, Amazon, AMD, Google, Proshares UltraPro QQQ: Cybertruck, Earnings And Other Buzz Pull Retail Investors

Zinger Key Points
  • Amazon's market cap fell below the $1 trillion level for the first time since April 2020.
  • AMD reported third-quarter revenue of $5.565 billion, up 29% year-over-year.
  • Tesla reportedly intends to commence mass production of its Cybertruck at the end of 2023.
Tesla, Amazon, AMD, Google, Proshares UltraPro QQQ: Cybertruck, Earnings And Other Buzz Pull Retail Investors

Major Wall Street indices ended lower on Tuesday as investors and traders braced for policy moves from the U.S. Federal Reserve on Wednesday. 

Better-than-expected jobs data also means the central bank has more leeway to carry on with its aggressive policy. Job openings, a measure of labor demand, rose 437,000 to 10.7 million on the last day of September, reported Reuters. Meanwhile, here are the five stocks that are drawing retail investors’ attention.

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1. Amazon.com, Inc. AMZN: Shares of the retail giant closed 5.52% lower on Tuesday, taking the company’s market cap below the $1 trillion level for the first time since April 2020. Its market cap currently stands just above $987 billion as of Tuesday’s close. Investors and traders continued to punish the stock after the company released a disappointing fourth-quarter guidance. Amazon projects fourth-quarter revenue to be in the range of $140 billion to $148 billion versus an analyst estimate of $155.15 billion.

2. Advanced Micro Devices, Inc. AMD: AMD reported third-quarter revenue of $5.565 billion, up 29% year-over-year. The revenue total missed a Street estimate of $5.62 billion. The company projects fourth-quarter revenue in the range of $5.2 billion to $5.8 billion. Shares of the chip-maker closed 0.67% lower on Tuesday.

3. Alphabet Inc GOOGL GOOG: Former Google CEO Eric Schmidt’s philanthropic arm has issued recommendations intended at encouraging U.S. politicians to counter China’s rising technological ambitions, reported Bloomberg. Shares of Alphabet closed over 4% lower on Tuesday amid general market weakness. Investors continued to digest last week’s earnings where the company reported a revenue of $69.09 billion, up 6% year-over-year, with the total coming in below Wall Street estimates of $70.9 billion.

4. ProShares UltraPro QQQ TQQQ: The ProShares UltraPro QQQ, one of the largest leveraged ETFs tracking the Nasdaq-100 index, closed 3.1% lower on Tuesday. The ETF is built for short-holding periods to deliver triple the daily returns of the Nasdaq 100 index.

5. Tesla Inc TSLA: Tesla reportedly intends to commence mass production of its Cybertruck at the end of 2023, two years after the initial target for the much-awaited pick-up truck. Shares of Tesla closed 0.12% higher on Tuesday.

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