Tesla shares dropped over 8% in premarket trading post lackluster Q2 earnings, influencing a broader tech sell-off affecting Nvidia, Microsoft, and Amazon.

Alphabet surpassed sales projections in Q2, with revenue hitting $84.7 billion, though YouTube ad earnings fell short at $8.66 billion.

Musk's Optimus robot deployment timeline delayed, missing the year-end target for factory integration and delivery to other firms.

Visa beat earnings but missed revenue expectations, while Texas Instruments signaled an end to inventory backlog in recent reports.

Market updates provided by Benzinga offer insights without specific investment advice.

Market volatility rises with S&P and Nasdaq futures down, and the VIX climbing to 15.25, reflecting shifting dynamics away from overvalued tech stocks.

Elon Musk, with a net worth of $248.7 billion, leads as the world's wealthiest individual, primarily due to ventures like Tesla and SpaceX.

New home sales in June unexpectedly dropped by 0.6% to 617,000, marking the lowest level since November 2023, as reported by the Commerce Department.

Geopolitical tensions between the U.S. and China, stemming from semiconductor sanctions, impact the tech sector as U.S. tech giants engage with Beijing despite the restrictions.

Analysts are divided on Tesla's future, with some viewing it as an AI and robotics firm, contrasting Musk's vision with uncertainties about projects like robotaxis.

Tesla exceeded revenue estimates in Q2, growing 2% to $25.5 billion, driven by regulatory credit sales, despite falling short on earnings per share.

Honda, Boston Dynamics, and BMW join Tesla in investing in robotics and drones for manufacturing, showcasing advancements and partnerships in the field.

Bank of America maintains a 'buy' rating for Tesla, adjusting price targets and highlighting future catalysts like robotaxis.