Top 20 in US Stock Trading Volume: Google closed down 7.3%, and its dominant position in browsers faces challenges
On Wednesday, Nvidia, ranking first in US stock trading volume, closed up 3.10% with a trading volume of $23.342 billion. Nvidia's CEO Jensen Huang said on Tuesday, May 6 (local time) that the Chinese AI chip market may reach a scale of about $50 billion in the next two to three years, and it would be a "huge loss" if unable to participate in it.
He reiterated that China is an important market for artificial intelligence. "China is a very large market for artificial intelligence, and the market scale may reach $50 billion in the next two or three years. As a US company, it would be a huge loss if it cannot provide services to the Chinese market." He also said that regardless of the policies, companies should remain flexible.
Previously, Nvidia said that it needs to apply for a license from the US government when exporting the H20 chip to China in the future, and this move will lead to a loss of $5.5 billion for the company.
Tesla, ranking second, closed up 0.32% with a trading volume of $19.467 billion. According to the data released by the China Passenger Car Association on Wednesday, Tesla's Shanghai factory delivered a total of 58,459 Model 3 sedans and Model Y SUVs in
April this year, a 6% decrease compared with the same period last year. This data does not distinguish between domestic sales and exports. The China Passenger Car Association also estimated that the wholesale sales volume of new energy passenger vehicle manufacturers nationwide in April was 1.14 million units, a year-on-year increase of 42%.
Google's Class A shares, ranking third, closed down 7.26% with a trading volume of $19.315 billion. It is reported that Apple is considering adding AI search to its browser, and this move is bound to challenge Google's dominant position.
It is reported that Apple is "actively studying" to reshape its Safari web browser on its devices to focus on AI-driven search services. This move is mainly due to the possible termination of the cooperation with Google and broader industry changes.
Apple's senior vice president Eddy Cue disclosed this information when testifying in the US Department of Justice's lawsuit against Alphabet on Wednesday. The core of this lawsuit is the annual transaction of about $20 billion between Apple and Google, which makes Google the default search engine in Apple's built-in browser.
Cue pointed out that the search volume of the Safari browser declined for the first time last month, and he believes that this is because users are starting to turn to AI tools. He expects that AI search providers such as OpenAI, Perplexity AI Inc. and Anthropic PBC will gradually replace traditional search engines like Google. Cue said that he thinks Apple will add these new AI search options to Safari in the future.
Palantir, ranking sixth, closed up 1.49% with a trading volume of $10.441 billion. The company has won the favor of Wall Street analysts after releasing its financial report.
The analyst team of Wedbush raised Palantir's target price from $120 to $140 and asserted that it "has joined the ranks of technology giants that define the era." Josh Arnold, the head of the investment group Timely Trader, said that its free cash flow and operating profit growth rate far exceed the revenue growth rate, and there is huge room for the release of operating leverage.
Sanjit Singh, an analyst at Morgan Stanley, maintained a "hold" rating and slightly raised its target price from $90 to $98. Bank of America analyst Mariana Perez Mora reiterated a "buy" rating.
AMD, ranking eighth, closed up 1.76% with a trading volume of $8.495 billion. AMD's revenue in the first quarter was $7.438 billion, a 36% increase compared with $5.473 billion in the same period last year and a 3% decrease compared with $7.658 billion in the previous quarter
.
The company's CEO Lisa Su said on Wednesday that despite export controls and changing tariff policies, China is still a "huge opportunity" market for the semiconductor and artificial intelligence industries.
Morgan Stanley lowered AMD's target price from $137 to $121 and maintained a "neutral" rating.
Amazon, ranking ninth, closed up 2% with a trading volume of $8.225 billion. According to media reports on Wednesday, Jesse Levinson, the co-founder of Amazon's self-driving taxi department Zoox, said that the company plans to open a new factory in the San Francisco Bay Area next year to increase the production of its self-driving cars. Levinson said that the company plans to gradually expand the production of customized self-driving taxis and will truly start mass production next year.
HIMS, ranking twelfth, closed up 5.82% with a trading volume of $4.271 billion. The stock closed up more than 18% yesterday. So far this year, the stock has cumulatively increased by 116.5%.
The company delivered better-than-expected financial results due to the surge in sales and user volume. Its earnings per share in the first fiscal quarter reached $0.20, and its revenue soared 111% year-on-year to $586 million, both exceeding market expectations. The total number of subscribers increased by 38% to 2.37 million, and the average monthly online revenue per user increased by 53% to $84.
The company expects its revenue in this quarter to be in the range of $530 million to $550 million, lower than the analyst's estimated value of $564.3 million. This conservative outlook is due to the company's strategic adjustment: stopping the provision of generic versions of Novo Nordisk's (NVO) weight-loss drugs Wegovy and Ozempic, and changing the plan for sexual health products.
The company announced in February that in view of the US Food and Drug Administration (FDA)'s determination that semaglutide is no longer in short supply, it will stop selling compound weight-loss therapies containing this ingredient after the first quarter.
Uber, ranking fourteenth, closed down 2.54% with a trading volume of $4.1 billion. The company's revenue in the first quarter increased by 14% year-on-year to $11.53 billion, slightly lower than the market expectation of $11.62 billion. Earnings per share were $0.83, compared with a loss of $0.32 in the same period last year, and analysts expected $0.51. The total booking volume during the period was $42.82 billion, and analysts expected $43.14 billion.
Disney, ranking sixteenth, closed up 10.76% with a trading volume of $3.656 billion. Benefiting from the strong performance of its theme parks and streaming TV business, Disney's revenue in the second fiscal quarter exceeded the expectations of Wall Street analysts and raised its full-year performance outlook.
The company stated that excluding certain items, it is expected that its earnings per share in the fiscal year 2025 will increase by 16% to $5.75, approximately twice the previous expectation. Analysts expected $5.44.
Berkshire Hathaway's Class B shares, ranking twentieth, closed up 1.15% with a trading volume of $2.856 billion.