Top 20 in US stock trading volume: The market continues to be volatile, NVIDIA drops nearly 6%, and Tesla drops by more than 7%

 

Technology stocks on the US stock market generally declined on Thursday. Some analysts said that in the tariff storm initiated by Trump, large US technology enterprises will become targets for countermeasures, and Apple, Amazon, Microsoft, and Nvidia will all become victims.

 

In addition, it was reported that after Jensen Huang, CEO of Nvidia, attended a dinner at Mar-a-Lago in Florida last Friday, the White House of the United States changed its plan to control Nvidia's export of the H20 chip to China and temporarily refrained from further controlling the export of this chip.

 

Previously, there were reports that the US export control plan for the H20 chip had been in the works for several months and was originally scheduled to be implemented as early as this week.

 

Tesla, ranked second, closed down 7.27%, with a trading volume of $45.1 billion. The stock rebounded sharply by 22.7% yesterday. Tesla China's wholesale sales volume in March was 78,828 vehicles, a year-on-year decrease of 11.5%.

 

Apple, ranked third, closed down 4.24%, with a trading volume of $22.941 billion. BofA Securities released the latest research report pointing out that although technically, the United States has enough labor force to complete the final assembly of the iPhone, the practical difficulty of fully transferring the production line back to the United States is extremely high, and the cost is huge.

 

BofA estimated that just transferring the final assembly link of the iPhone to the United States would increase the cost by 25%.If equivalent tariffs are added, the total cost may soar by 91%, severely squeezing Apple's profit margin.

 

Therefore, analysts clearly stated that unless the new tariffs exist for a long time and are irreversible, Apple is unlikely to relocate its production lines back to the United States on a large scale.

 

Meta Platforms, ranked fourth, closed down 6.74%, with a trading volume of $15.389 billion. Recently, Meta released its latest large language model Llama 4, which has attracted widespread attention in the technology community. However, following this, there was a significant revelation of cheating behavior during the model training process.

 

An internal Meta employee posted on an overseas academic exchange forum, bluntly stating that despite the team's repeated efforts, the performance of Llama 4 has never been able to reach the top level in the open-source field, and there is no substantial improvement compared to the existing version Llama 3.2.

 

However, Meta's senior management proposed a way to "embellish" the model's performance by mixing the test set data into the training data, so as to submit a "beautiful" report card. Regarding this approach, the employee chose to resign, expressing his dissatisfaction and protest with actions.

 

In response, the well-known technology media TechCrunch also published an article questioning that the performance test of Llama 4 is misleading and discussing whether its evaluation ranking on LMArena is fair.

 

Amazon, ranked sixth, closed down 5.17%, with a trading volume of $12.288 billion. Andy Jassy, CEO of the e-commerce giant Amazon, said on Thursday that the company will try its best to maintain price stability, but online sellers may pass on part of the tariff costs to consumers.

 

"We will pay attention to all factors that may affect consumers and customers," Jassy said in an interview on Thursday. "It's difficult to predict what will happen. There are many variables now."

 

Broadcom, ranked eighth, closed down 6.94%, with a trading volume of $8.829 billion. Jefferies, a securities firm, lowered the target price of Broadcom from $265 to $200.

 

AMD, ranked tenth, closed down 8.41%, with a trading volume of $5.709 billion. AMD officially released the entire Ryzen 8000HX series products in a low-key manner. Analysts said that it continues to use the Zen 4 CPU architecture and the RDNA 3 GPU architecture, and the thermal design power consumption remains between 55W and 75W. Essentially, it is like a rebranded version of the Ryzen 7000 series.

 

Alibaba, ranked twelfth, closed down 0.57%, with a trading volume of $5.391 billion. The Stanford Institute for Human-Centered Artificial Intelligence recently released the "2025 AI Index Report," which pointed out that the performance gap between top AI models in China and the United States has been significantly narrowed, and China continues to lead in terms of AI papers and patents.

 

The report also selected the ranking of contributions of important AI models in 2024. Google, OpenAI, and Alibaba ranked among the top three, being selected 7 times, 7 times, and 6 times respectively.

 

Strategy, ranked thirteenth, closed down 8.26%, with a trading volume of $5.265 billion. Bitcoin-related stocks declined on Thursday, and Bitcoin fell nearly 2%, to $81,427.21.

 

JPMorgan Chase, ranked sixteenth, closed down 3.09%, with a trading volume of $4.207 billion. The company will release its first-quarter financial results for 2025 before the market opens on Friday, April 11, 2025. Institutions predict that its performance will be mediocre, and it may encounter a more challenging capital market.

 

ExxonMobil, ranked twentieth, closed down 5.55%, with a trading volume of $3.378 billion. Oil prices have continued to plummet recently, dragging down the oil sector. UBS lowered the target price of ExxonMobil from $146 to$135.