Top 20 in US Stock Trading Volume: Apple Plunges 3.7%, Earnings Report Highlights Tariff Woes and Growth Concerns
On Friday, Tesla topped the list of US stock trading volumes. It closed up 2.38%, with a trading volume of $32.716 billion. In response to recent rumors that Tesla's board of directors was looking for a new CEO, Tesla's board chair, Robyn Denholm, explicitly denied these claims, stating that the relevant reports were "absolutely false" and emphasizing that the board has full confidence in Elon Musk's leadership.
Analysts believe that although Tesla has recently faced issues such as declining sales, a 71% plunge in quarterly profits, and a significant drop in its stock price, Musk's plan to reduce his working hours in government-related affairs and refocus more of his energy on Tesla's operations has received a positive response from the market. Musk said he will "significantly reduce" his working hours in government affairs and allocate more time to managing Tesla.
Coming in second in terms of trading volume was NVIDIA, which closed up 2.59% with a trading volume of $21.611 billion. It is reported that NVIDIA has restarted its customized chip research and development work.
In addition, there were reports on Thursday that the United States is considering relaxing the control on NVIDIA's chip exports to the United Arab Emirates. Trump may announce the launch of a bilateral chip deal during his upcoming trip to the Gulf. Sources said that there has been no formal decision yet and emphasized that the debate on semiconductor trade rules with the UAE and other countries is still ongoing in Washington, but discussions about modifying the artificial intelligence chip control for the UAE have received increasing support from both the US Department of Commerce and the White House.
Apple ranked third in trading volume, closing down 3.74% with a trading volume of $20.389 billion. Apple was downgraded by at least two institutions, and its latest earnings report has intensified concerns about tariffs and corporate growth.
Apple was downgraded by at least two institutions on Friday. The company's quarterly results released earlier have intensified investors' concerns about tariffs and its growth potential.
In addition, the company approved Spotify's App Store update in the United States on Friday, allowing it to directly display subscription price information to users and provide external payment links. This decision follows a US court ruling that requires Apple to stop charging commissions for in-app purchases on iPhones. For Apple, if more apps switch to external payments, it could potentially lose billions of dollars in commission revenue each year.
Palantir ranked seventh, closing up 6.95% with a trading volume of $12.493 billion. The stock has risen by more than 10% this week, marking the fourth consecutive week of gains.
Eli Lilly ranked ninth, closing up 3.72% with a trading volume of $4.326 billion. Eli Lilly's stock price plunged nearly 12% after it released its earnings report on Thursday, wiping out more than $90 billion in market value. Some analysts said that the market's reaction was excessive.
In a report to clients on Friday, David Risinger, an analyst at Leerink Partners, wrote, "We believe the market's reaction was excessive, so we reiterate our 'outperform' rating on Eli Lilly's stock."
Jefferies analyst Akash Tewari pointed out, "Eli Lilly holds approximately 75% of the share in the new branded weight-loss drug prescription market."
Bank of America analyst Tim Anderson said, "Eli Lilly's sharp decline on Thursday reminds us of what we often say: expect stock price volatility and take advantage of price drops. As long as there are no new major issues with the company's fundamentals - in our view, there were no such issues today."
Taiwan Semiconductor Manufacturing Company (TSMC) ranked 13th, closing up 3.80% with a trading volume of $3.695 billion. There were reports on Friday that TSMC has started building its third factory in Arizona to manufacture chips for Apple. The factory in Phoenix is part of TSMC's commitment in March this year to invest $100 billion in the US semiconductor industry over the next four years.
The new factory is another step after the company's initial investment of $65 billion in Arizona and is aimed at becoming a key step in manufacturing chips for Apple and other US technology companies within the United States.
Currently, TSMC manufactures most of Apple's chips in Taiwan, China. According to the current company policy and export controls, the most advanced manufacturing technologies, including the 3-nanometer process used to manufacture the A18 and M4 chips, can still only be produced in factories in Taiwan, China.
Reddit ranked 15th, closing down 4.18% with a trading volume of $3.493 billion.
Spotify ranked 16th, closing up 6.93% with a trading volume of $3.109 billion. Apple approved Spotify's App Store update in the United States on Friday, allowing it to directly display subscription price information to users and provide external payment links. This decision follows a US court ruling that requires Apple to stop charging commissions for in-app purchases on iPhones.