Top 20 in US Stock Trading Volume: ServiceNow closed 15.49% higher after reporting its earnings
On Thursday, Tesla ranked first in terms of trading volume in the US stock market, closing 3.50% higher with a trading volume of $23.699 billion. Morgan Stanley maintained its "overweight" rating on Tesla and set a target price of $410.
The team of Adam Jonas, an analyst at Morgan Stanley, believes that although the core automotive profit margin is concerning and there are supply risks driven by tariffs, Musk's attention seems to have refocused from matters such as DOGE back to Tesla itself, and has set "on-track" milestones in autonomous driving and robotics, which is sufficient to "satisfy loyal supporters."
The bank believes that investors need to be patient and wait for the dream of autonomous driving to be translated into revenue and cash flow.
Nvidia ranked second, closing 3.62% higher with a trading volume of $22.918 billion. Executives from Amazon and Nvidia both stated that the construction of artificial intelligence data centers has not slowed down. Due to concerns about the economic recession, some investors had questioned whether technology companies would scale back some of their plans.
Kevin Miller, Vice President of Global Data Centers at Amazon Web Services (AWS), said on Thursday, "There has been almost no significant change, and we continue to see very strong demand."
Josh Parker, Senior Director of Corporate Sustainability at Nvidia, also said that the company has not seen signs of a slowdown. "We have not seen companies retreat."
On Monday this week, analysts at Wells Fargo cited industry sources as saying that AWS is suspending some data center lease contracts. Analysts said that the scale of the suspension is unclear, but this statement has raised concerns that Amazon is doing something similar to what Microsoft recently did in scaling back some of its early projects.
Amazon closed 3.29% higher with a trading volume of $7.723 billion, ranking sixth in terms of trading volume in the US stock market on Thursday.
Palantir ranked third, closing 6.90% higher with a trading volume of $10.715 billion. Google and Palantir announced on Wednesday that Google Cloud will be introduced into FedStart. Palantir's platform project FedStart allows large companies and startups to provide their software to US federal government agencies.
Microsoft ranked fifth, closing 3.45% higher with a trading volume of $8.399 billion. Goldman Sachs reaffirmed its "buy" rating on Microsoft, lowering the target price from $500 to $450 to align with the adjustment of market valuation multiples.
The bank believes that investors will focus on the contribution of Azure and artificial intelligence to Azure, the guidance for capital expenditure growth in the fiscal year 2026, and the detailed information on revenue and earnings in the fiscal year 2026.
The bank predicts that Microsoft's revenue in the third fiscal quarter of the current fiscal year will increase by 11% year-on-year to $68.6 billion, Azure cloud business will grow by 31%, and earnings per share will be $3.23. It is expected that the overall revenue in the current fiscal year will increase by 12% year-on-year to $277.1 billion, and earnings per share will increase by 11% year-on-year to $13.15.
Netflix ranked eighth, closing 4.50% higher with a trading volume of $6.886 billion. The company's revenue in the first quarter was $10.54 billion, higher than the analysts' expected $10.5 billion. It maintained its full-year revenue forecast at $43.5 billion to $44.5 billion, while analysts expected $44.33 billion. It is expected that the revenue in the second quarter will be $11.04 billion, higher than the analysts' expected $10.88 billion.
ServiceNow ranked tenth, closing 15.49% higher, achieving the largest single-day gain since 2012, with a trading volume of $5.646 billion. The company's revenue in the first quarter increased by 18.8% year-on-year to $3.09 billion, while analysts expected $3.08 billion. The adjusted earnings per share were $4.04, compared with $3.41 in the same period last year, and analysts expected $3.83.
The subscription revenue increased by 19% year-on-year to $3 billion, meeting expectations. ServiceNow expects the subscription revenue in the second quarter to be between $3.03 billion and $3.04 billion, slightly higher than the analysts' expected $3.02 billion.
Broadcom ranked eleventh, closing 6.35% higher with a trading volume of $5.107 billion.
IBM ranked fourteenth, closing 6.58% lower with a trading volume of $3.496 billion. The company's financial report released after the market closed on Wednesday showed that its revenue in the first quarter was $14.5 billion, a year-on-year increase of 1%, exceeding market expectations.
The adjusted earnings per share were $1.60, higher than the analysts' expected $1.42. Analyses pointed out that this financial report failed to dispel investors' concerns that tariffs and the reduction of spending by the US federal government may affect the company's business.
Payment technology company Fiserv ranked seventeenth, closing 18.52% lower with a trading volume of $3.103 billion. The company's first-quarter financial report missed expectations. The significant slowdown in the growth of its Clover merchant system became a key negative factor - the revenue growth rate of this business decreased from 29% in the previous quarter to 27%, and the growth rate of total transaction volume plummeted from 14% to 8%. Despite the challenges, analysts are still optimistic about the long-term potential of the company's business model.
Texas Instruments ranked nineteenth, closing 6.56% higher with a trading volume of $3.048 billion. The company's revenue in the first fiscal quarter increased by 2% quarter-on-quarter and 11% year-on-year, and its net profit was $1.18 billion. The company predicts that its revenue in the second fiscal quarter will be between $4.17 billion and $4.53 billion, and earnings per share will be between $1.21 and $1.47, while the market expects $1.21 per share.