Top 20 in US stock trading volume: Trump Threatens Tariffs on Apple
On Friday, Tesla topped the list of US stock trading volumes, closing 0.50% lower with a trading volume of $28.503 billion. According to three informed sources, Tesla CEO Elon Musk's Government Efficiency Department (DOGE) team is promoting the use of the AI chatbot Grok—developed by Musk's xAI company—in data analysis work for the US federal government.
This practice may violate conflict-of-interest laws and put the sensitive information of millions of American citizens at risk of leakage.
Musk's "Government Efficiency Department" is accused of ignoring long-established sensitive data protection mechanisms, raising concerns among privacy advocates and other groups. Five technology and government ethics experts noted that if the relevant data is classified as confidential or sensitive, this arrangement could violate federal privacy and security regulations.
NVIDIA ranked second, closing 1.16% lower with a trading volume of $25.818 billion. It is reported that Oracle plans to spend approximately $40 billion to purchase high-performance computer chips from NVIDIA to support OpenAI’s new US data center.
Apple ranked third, closing 3.02% lower with a trading volume of $15.257 billion. US President Trump said on Friday that an additional 25% tariff would be imposed on mobile phone manufacturers that do not produce in the US.
Trump also warned that a 25% tariff would apply to Samsung products if they are not made in the US. Tariffs would be waived if Apple and Samsung build factories in the US. He noted that Apple CEO Cook had previously mentioned shifting production to India, but such a move would still face tariffs.
Earlier, Trump warned on social media that Apple would face a 25% tariff if it failed to move iPhone production from overseas to the US.
Trump’s speech at the White House further clarified his earlier social media statement, emphasizing that the tariff measures are not limited to Apple but apply to all companies producing similar products, aiming to drive manufacturing back to the US through economic means.
Strategy (MSTR) ranked fifth, closing 7.50% lower with a trading volume of $8.023 billion. Affected by a 1.2% decline in Bitcoin, US Bitcoin-related stocks generally fell on Friday.
Google's Class A shares ranked eighth, closing 1.40% lower with a trading volume of $5.936 billion. Google will introduce ads into its AI search mode, further integrating commercialization with AI experiences. The AI mode allows users to ask questions and receive AI-generated answers, with the ability to explore related content through follow-up questions and links.
According to Google, in AI mode, ads may appear "in relevant positions" below and be "integrated into" AI responses.
OKLO, a nuclear power company backed by Sam Altman, ranked 11th, closing 23.04% higher with a trading volume of $4.486 billion. US Energy Secretary Wright said Trump would sign an executive order on Friday to promote nuclear power development.
Analysts noted that the directive expected from Trump will relax reactor approvals, instruct key agencies to identify federal land for deployment, and simplify current regulatory processes under the Nuclear Regulatory Commission.
Intuit ranked 13th, closing 8.12% higher with a trading volume of $3.84 billion. The company’s fiscal 2025 third-quarter results, released Thursday night, exceeded Wall Street expectations, driven by revenue growth from its personal finance platform Credit Karma and accounting software QuickBooks.
Adjusted earnings per share rose to $11.65 in the three months ended April 30, up from $9.88 a year earlier, surpassing FactSet’s consensus estimate of $10.93. Revenue grew 15% year over year to $7.75 billion, exceeding the market expectation of $7.57 billion.
The company now expects full-year adjusted earnings per share to grow 18–19% to $20.07–$20.12, up from a previous forecast of 13–14% growth. Revenue is expected to grow 15% to $18.72–$18.76 billion, compared with a prior forecast of 12–13% growth. The consensus estimate is adjusted earnings per share of $19.40 and revenue of $18.37 billion.
US Steel ranked 18th, closing 21.24% higher with a trading volume of $2.608 billion. US President Trump expressed support on Friday for US Steel’s partnership with Nippon Steel, crediting the deal to his tariff policies and stating that it would ensure the iconic American company remains rooted in the US.
While Trump did not explicitly endorse Nippon Steel’s $14.1 billion acquisition of US Steel, the stock surged after his remarks, reflecting market optimism about the deal’s prospects.
“I am proud to announce that after careful consideration and negotiation, US Steel will remain in the US with its headquarters still in the great city of Pittsburgh,” Trump said on Truth Social Friday.
“My tariff policies will ensure that US Steel is always made in America.”
Trump added that the partnership would create at least 70,000 jobs and bring $14 billion in new investment to the US economy, with most of it to be implemented within the next 14 months. He also announced plans to attend a related event in Pittsburgh on May 30. The White House confirmed that Trump has received a review recommendation from the Committee on Foreign Investment in the United States (CFIUS) regarding the acquisition.
Ross Stores ranked 20th, closing 9.85% lower with a trading volume of $2.479 billion. The company has withdrawn its annual performance guidance due to tariff pressures.
