NVIDIA (NVDA) led the trading volume on the U.S. stock market, closing down 2.87% with a weekly drop of 8.5%. The company announced a $5.5 billion quarterly charge due to export restrictions on its H20 graphics processors to certain regions, as mandated by the U.S. government. This suggests potential growth slowdowns due to increased chip export controls. UBS reduced NVIDIA's target price from $185 to $180.
Tesla (TSLA) saw a slight decline of 0.07% amid reports of reduced production targets for its Cybertruck lines and workforce cuts. Some employees have been reassigned from Cybertruck to Model Y production lines. Additionally, production plans for Cybercab and Semi trucks have faced disruptions, adding to Tesla's challenges with declining sales and shifting consumer preferences.
UnitedHealth Group (UNH) dropped 22.38% after reporting lower-than-expected earnings and revenue for the first quarter. The company adjusted its annual earnings forecast due to higher-than-anticipated costs related to its Medicare Advantage business.
Apple (AAPL) rose 1.39% as it accelerates its global production diversification strategy to counter high U.S. import tariffs, including new production lines in Brazil for the iPhone 16e.
