Top 20 in US stock trading volume: CoreWeave Plunges 9%, Barclays Says Short-Term Upside Is Limited

On Thursday, Nvidia, the No. 1 stock by trading volume in the U.S., closed up 3.25% with a turnover of $51.712 billion. Nvidia released its earnings report after Wednesday's close, and the company's CEO Jensen Huang predicted an "exponential growth" in the AI computing market.

 

Morgan Stanley raised its price target on Nvidia from $160 to $170. Raymond James Financial raised its price target on Nvidia from $150 to $165.

 

The No. 2 stock, Tesla, closed up 0.43% with a turnover of $31.585 billion. On Wednesday (May 28), Tesla CEO Musk announced his "breakup" with the Trump administration just 128 days after assuming the role of Head of the U.S. Department of Government Efficiency (DOGE) on January 20.

 

Musk posted on his social media platform X that he was leaving the Trump administration and would no longer serve as a special government employee. In addition, Musk thanked U.S. President Trump in the post and said the DOGE team would continue its work across the government.

 

Telegram founder and CEO Pavel Durov announced on the 28th local time that he would form a one-year partnership with Tesla CEO Musk. Musk's AI startup xAI will invest $300 million and deploy its developed chatbot Grok on the Telegram platform.

 

The No. 3 stock, Apple, closed down 0.23% with a turnover of $10.268 billion. International Data Corporation (IDC) sharply lowered its 2025 global smartphone shipment growth forecast from 2.6% to 0.6% on Thursday, citing economic uncertainties caused by tariffs and reduced consumer spending.

 

This downward revision indicates challenges for manufacturers like Apple, which have faced weak sales amid rising geopolitical tensions and tariff disputes.

 

The No. 5 stock, Salesforce, closed down 3.30% with a turnover of $7.336 billion. The stock plunged more than 7% in early trading on Thursday. Although the company's first fiscal quarter results exceeded Wall Street expectations and it raised its full-year guidance due to AI tailwinds, analysts believe some factors in its earnings report failed to satisfy investors, leading to the share price decline.

 

JPMorgan analyst Mark Murphy attributed part of Salesforce's stock price volatility to a slightly lower-than-expected growth rate in remaining performance obligations for the second quarter, which was 30 basis points below Wall Street forecasts. He added that Salesforce's operating margin was also slightly below expectations.

 

The No. 9 stock, Google Class A shares, closed down 0.29% with a turnover of $5.033 billion. German new Minister of Culture Wolfram Weimer revealed on Thursday that the German government is considering imposing a 10% tax on large online platforms such as Google and Facebook.

 

The EU and the U.S. are engaged in trade negotiations, and this move could escalate tensions between Europe and the Trump administration.

 

The No. 10 stock, Broadcom, closed up 1.06% with a turnover of $4.994 billion. Susquehanna Financial Group raised its price target on Broadcom from $250 to $280, maintaining a positive rating. The new target price implies a 17% upside for the stock.

 

The No. 12 stock, CoreWeave, closed down 9.13% with a turnover of $4.514 billion. Brokerage firm Barclays downgraded its rating on the stock to "hold," stating that short-term upside is limited.

 

Barclays said it is bullish on the stock long-term but sees limited short-term upside. Analyst Lenschow noted, "At current levels, CoreWeave's enterprise value to 2026 EBIT multiple is 41x (assuming total debt of approximately $31.4 billion in 2026).

 

While we expect its growth to remain strong, it is uncertain whether there are fundamental factors that can drive the stock price to rise significantly further, as the company's current valuation is significantly higher than other peers in the industry."

 

However, the brokerage emphasized that the value of CoreWeave as one of the first pure generative AI (GenAI) software targets should not be underestimated.

 

The No. 14 stock, Netflix, closed down 1.96% with a turnover of $3.913 billion. AI startup Anthropic recently announced that Netflix founder and former CEO Reed Hastings will join its board of directors. This move has sparked widespread attention.

 

Hastings co-founded Netflix in 1997 and served as CEO until 2023. As a senior leader in the tech industry, Hastings' joining will undoubtedly inject strong momentum and rich management experience into Anthropic.

 

The No. 18 stock, Boeing, closed up 3.32% with a turnover of $3.389 billion. Boeing CEO Kelly said on Thursday that the company plans to increase production of its best-selling 737 MAX jet to 42 units per month in the coming months and raise it to 47 units per month in early 2026.

 

At the Bernstein Strategic Decision Conference, Otterbein said he hoped to increase production to 47 units per month by the end of 2025. However, minutes later, he corrected himself, stating that the company is expected to be ready to increase production to 47 units per month by the end of this year, rather than reaching that production level by then.

 

The No. 19 stock, Uber, closed down 4.49% with a turnover of $3.213 billion. Danish taxi company Dantaxi announced on Wednesday that Uber has completed the acquisition of Dantaxi from capital fund Triton, with the specific transaction amount undisclosed by both parties. Dantaxi said in a statement that the company is committed to fully replacing its taxi fleet with electric vehicles by 2030.

 

After the acquisition, Dantaxi will continue to operate as a licensed taxi company, while Uber will provide it with technical support and platform services.