Nasdaq Dips 1%; US Durable Goods Orders Increase In July
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 26 2024
0mins
Source: Benzinga
U.S. Stock Market Performance: U.S. stocks mostly declined, with the Nasdaq Composite down 1% while energy shares rose by 1.5%. Notable gains were seen in Medirom Healthcare Technologies and Prestige Wealth, while Alarum Technologies and PDD Holdings faced significant losses.
Economic Indicators: New orders for manufactured durable goods in the U.S. increased by 9.9% in July, contrasting with a previous decline, while European markets showed mixed results with Germany's Ifo Business Climate indicator falling to its lowest since February.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy PDD?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on PDD
Wall Street analysts forecast PDD stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PDD is 146.39 USD with a low forecast of 118.00 USD and a high forecast of 167.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Analyst Rating
7 Buy
4 Hold
0 Sell
Moderate Buy
Current: 102.810
Low
118.00
Averages
146.39
High
167.00
Current: 102.810
Low
118.00
Averages
146.39
High
167.00
About PDD
PDD Holdings Inc. is a multinational commerce company that owns and operates a portfolio of businesses. The Company is focused on bringing businesses and people into the digital economy, which benefits local communities and small businesses from improved productivity and new opportunities. The Company has built a network of sourcing, logistics, and fulfillment capabilities that support its underlying businesses. Its Pinduoduo platform provides buyers with a comprehensive selection of value-for-money merchandise and fun and interactive shopping experiences. The Temu, a global e-commerce platform which brings together buyers, merchants, manufacturers, and brands from around the world, offers a selection of merchandise in product categories such as apparel, electronic appliances, household goods, sports and fitness, tools and home improvement, and pet supplies.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Texas Expands Ban on Chinese Technology Amid Privacy Concerns
- Privacy Protection Measures: Texas Governor Greg Abbott has ordered a ban on state employees using Chinese technology products, including Alibaba, Shein, and TP-Link, on state-owned devices and networks to prevent the Chinese government from accessing sensitive data, thereby safeguarding Texans' privacy.
- Expanded Ban Scope: The ban encompasses a wide range of Chinese tech firms, including e-commerce, AI, and surveillance equipment companies like CATL and Autel, reflecting Texas's heightened vigilance against foreign technology.
- Cybersecurity Assessment: This decision follows a threat assessment conducted by the Texas Cyber Command, the largest state-based cybersecurity agency in the U.S., aimed at coordinating efforts to counter cyber threats targeting Texas infrastructure, thereby enhancing state government cybersecurity defenses.
- Policy Context: Despite easing tensions between the U.S. and China, Abbott's aggressive measures to restrict Chinese technology usage indicate a strong state-level stance on national security issues, although the ban does not affect personal use by Texas residents.
Continue Reading
Dan Loeb Increases Microsoft Stake by 175% to 1.1 Million Shares, AI Drives Growth
- Microsoft Investment Surge: As of September 30, 2025, Dan Loeb's Third Point LLC increased its stake in Microsoft by 175% to 1.1 million shares, benefiting from strong growth in cloud and AI, leading the company to exceed market expectations in both FY25 Q4 and FY26 Q1.
- Meta Expansion Plans: As of September 30, 2025, Third Point boosted its stake in Meta by 47% to 220,000 shares, with Meta planning to invest over $600 billion in the U.S. by 2028 to expand AI technology and data centers, aiming to enhance user engagement and potential monetization.
- Nvidia Demand Surge: As of September 30, 2025, Third Point raised its stake in Nvidia to 2.85 million shares, with Nvidia exceeding earnings expectations in Q3 and projecting that demand for its AI chips will drive total revenue past $500 billion, solidifying its dominance in the AI server market.
- Amazon AWS Strong Performance: As of September 30, 2025, Third Point increased its stake in Amazon to 2.81 million shares, with Amazon surpassing earnings estimates in Q3 and AWS sales rising 20% year-over-year, indicating robust momentum in cloud services demand.
Continue Reading