Magnificent 7 stocks news, Oct 8, 2026

Amazon launched its first Google Android tablets, the Alexa Tablet line, priced from $230 to $550 with aluminum bodies and Alexa+ requiring Prime or a separate subscription, a step above its roughly $180 Fire HD tier and entry iPad pricing. Reviews flagged a spec gap, with the Alexa Tablet 12 Pro using a 2024 MediaTek Dimensity 8400 phone chip and 8GB/16GB of memory versus Apple's M5 and 12GB minimum, plus a thinner Android tablet app selection. Two new Kids tablets with Google Play access were also unveiled, and Alexa for Shopping's Auto Buy ran its first October price-triggered purchase test during Prime Big Deal Days on Oct. 6-7. A $309.5 million class-action settlement over allegedly mishandled return refunds stays open for claims through Dec. 1, 2026, with a final approval hearing in March. Amazon also said it will invest $1.9 billion in its Delivery Service Partner program in 2027, mostly for driver wages, and completed a £4.25 billion bond offering on Sept. 14 to help fund capacity including two million additional NVIDIA GPUs planned for 2027-2028.

Finland's Licensing and Supervision Agency ordered Google's subsidiary Tuike Finland Oy to stop tree removal, digging, quarrying, ditching and road building at planned data centers in Muhos and Kajaani until environmental impact assessments are done, with an Oct. 23 deadline. The halt comes a month after Google pledged $15 billion for Finnish data centers and energy projects through 2028, its largest European investment, and Google said it acted in good faith and will follow the agency's guidance. TD Cowen raised its target to $485 from $475, expecting Q3 Google Cloud revenue to more than double while its Q3 EPS estimate sits 6.6% below consensus. At the Gemini at Work 2026 event Google launched a universal Gemini agent operating across Gmail, Drive, Docs and Calendar, and the shares outperformed a weaker market on the day. Two law firms set lead-plaintiff deadlines of Nov. 30 and Dec. 1 in the securities class action alleging concealed Gemini 3.5 Pro problems, while the next earnings report is estimated for Oct. 28.

An Office of Government Ethics filing showed Donald Trump's trust bought between $5 million and $25 million of META on Aug. 21, by far the largest of 517 August transactions, and the shares have gained about 31% since that purchase date before slipping modestly on Oct. 8. Meta on Thursday began a complete US restriction on ads and paid marketing placed by ByteDance, escalating its competition with TikTok. Muse, Meta's agentic assistant, reached iPad on Oct. 7 with connectors to Asana, Canva, Dropbox, Figma, QuickBooks, GitHub, Zoom, Notion and Meta ad accounts, and is estimated at 6.6 million installs since its Sept. 8 debut. Wells Fargo called Muse the catalyst that could carry the stock toward $1,000 against a $794.96 consensus target, while BNP Paribas expects Q3 revenue growth of 24-25% versus 23% consensus and a possible $5-10 billion raise to the $130-145 billion 2026 capex range. The tone of coverage softened after Monday's more upbeat target-raise and golden-cross reports.

The US Department of Labor indefinitely suspended Microsoft, Adobe and six IT outsourcers from the PERM program, halting new and pending green-card sponsorship applications for foreign workers. Vice President Vance accused Microsoft of abusing H-1B visas, citing 6,000 US layoffs in 2025 alongside 6,300 H-1B visas and nearly 3,000 green cards, while Microsoft said about 80% of its roughly 6,000 H-1B applications last fiscal year were for existing employees and new visa hires were 1% of its US workforce. Hours after the announcement Trump awarded CEO Satya Nadella the National Medal of Technology and Innovation, and the administration also proposed a PERM overhaul plus new international student work fees. Microsoft President Brad Smith told ITV that AI regulation is urgent, warning of job displacement and floating ideas such as taxing firms that use AI to replace labor. The day's news reversed the tone of the previous three reports, which had centered on an upgrade and product launches.

NVDA fell about 3% after OpenAI told investors its annualized revenue was roughly $50 billion at end-September versus the $68-70 billion previously reported, a gap analysts said reflects a change in reporting methodology rather than a real drop in demand; AMD and Broadcom also declined. NVIDIA pledged $1 billion in compute and monetary commitments over five years to the federal Genesis Fund, the largest single contribution among tech companies out of $2.4 billion in total sector pledges. CEO Jensen Huang received the National Medal of Science at a White House summit, and a separate disclosure showed Trump bought up to $1.6 million in NVDA stock and sold up to $1 million in August. Microsoft's Surface Laptop Ultra, powered by NVIDIA's RTX Spark N1X chip, launches Oct. 16 at $2,599 alongside NVIDIA-based AI PCs from Dell, HP and Lenovo. The decline interrupted a stretch of record-setting sessions and marked the first clearly negative report after several upbeat days.

Germany's Transport Ministry withdrew its objections to Tesla's Full Self-Driving system, making Germany the ninth European country and eighth EU state to approve it, though it urged a name change from the 'somewhat misleading' label, with a bloc-wide vote possible as early as December 2026. Tesla delivered 486,532 vehicles in Q3, beating company-compiled consensus of about 462,000 by more than 24,000 units and marking its second-highest quarterly total, although deliveries were still down about 2% year over year. Shares nevertheless fell more than 2% in a broad risk-off session, leaving the stock up roughly 25% since its July low but down about 15% year to date at around 159x forward earnings. Pilot and Tesla opened their first Megacharger site for heavy-duty electric trucks in Ellabell, Georgia, with 12 more locations under construction, and Tesla filed a Clark County permit for a Semi service center in Las Vegas. UBS raised its target to $391 from $385 while keeping a Buy rating, and the tone of coverage improved after two mostly negative days ahead of full Q3 earnings.