Stocks to Watch Today: Nvidia, CrowdStrike, and PayPal

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Stocks to Watch Today: Nvidia, CrowdStrike, and

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CrowdStrike (NASDAQ:) faces potential legal action, NVIDIA (NASDAQ:) grapples with competition in AI chip technology, and

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(NASDAQ:) surges on strong earnings.

In today’s trading session, investors are closely monitoring the movements of several key stocks, including CrowdStrike Holdings, NVIDIA Corporation, and

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Holdings. These companies have recently made headlines due to significant developments and market reactions.

CrowdStrike Faces Potential Legal Action From Delta Air Lines

CrowdStrike shares plummeted 9.30% to $234.74 following reports that Delta Air Lines (NYSE:) is seeking compensation for a allegedly caused by a CrowdStrike software update. The incident, which occurred on July 19, 2024, resulted in nearly 7,000 flight cancellations and cost Delta an estimated $350 million to $500 million.

Delta has hired prominent attorney David Boies to , raising concerns about potential legal repercussions for CrowdStrike. This news has contributed to a 7.99% year-to-date decline in CRWD stock, despite a strong buy recommendation from analysts and a 50.97% one-year return.

NVIDIA Stock Dips as Apple Chooses

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for AI Training

NVIDIA stock experienced a 4.11% decline, trading at $107.00 per share. This movement comes amidst news that Apple (NASDAQ:) has opted to use

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’s (NASDAQ:) tensor processing units (TPUs) instead of NVIDIA’s GPUs for training two AI models.

The decision was revealed in an Apple research paper and highlights the potential for

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’s (NASDAQ:) cloud services in AI development while raising questions about NVIDIA’s market dominance in AI chip technology. Despite this setback, NVIDIA maintains a strong market position with a $2.633 trillion market cap and impressive year-to-date and one-year returns of 116.21% and 129.07%, respectively.

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Surges on Strong Q2 Earnings and Raised Guidance

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shares surged 8.14% to $63.74 following the release of its Q2 2024 report, which exceeded market expectations. The company reported an 8% year-over-year increase in revenue to $7.9 billion and a 17% rise in GAAP earnings per share to $1.08.

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also raised its full-year guidance for 2024, revising its GAAP EPS forecast to $3.88-$3.98.

The positive results and

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have contributed to a 3.79% year-to-date increase in PYPL stock, although the company still faces challenges with a 13.84% one-year decline and a 42.81% decrease over the past five years.

***

Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our

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prior to making financial decisions.

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