U.S. Stock Market Top 20 by Trading Value: Analysts Predict 40% Pullback for Oracle
Tesla, the top stock by trading value on Thursday, fell 4.38%, marking its largest single-day drop in two months, with $40.989 billion traded.
Court filings from September 24 show Elon Musk’s xAI sued rival OpenAI in California federal court, accusing it of stealing trade secrets to gain an unfair edge in the AI race. The lawsuit claims OpenAI has a “deeply troubling pattern” of poaching xAI ex-employees to access trade secrets related to the Grok chatbot.
Nvidia, second in trading value, rose 0.41% with $33.823 billion traded, after two days of declines. Reports say Nvidia is developing a Robotaxi project internally and has invested in Robotaxi firms like WeRide.
Apple, third in trading value, rose 1.81% with $13.49 billion traded. Apple urged EU antitrust regulators to scrap consumer protection laws, arguing they pose privacy risks and may stifle innovation. On Thursday, Apple reiterated its opposition to these EU laws, implemented last year to protect consumers and curb Big Tech’s dominance in areas like mobile apps and search engines.
In a blog post, Apple stressed compliance but called for a deeper review of the laws’ impact on European citizens and businesses, taking a tougher stance in a separate EU Commission filing to abolish or weaken them.
Oracle, sixth in trading value, fell 5.55% with $11.27 billion traded. The drop followed Rothschild’s Redburn issuing a “sell” rating, predicting a 40% pullback, as the market “grossly overestimates” Oracle’s recent AI deals boosting its core cloud business.
“Oracle’s stock just saw a massive run-up. With its market cap ballooning so fast, some pullback or softness makes sense,” said Keith Buchanan of Globalt Investments. He noted “some skepticism” about Oracle’s explosive cloud infrastructure growth forecast earlier this month.
Buchanan added, “The size of these orders is striking, but if they’re concentrated in a few end markets or orders, risks are real.”
Intel, seventh in trading value, rose 8.87% to a one-year high with $9.655 billion traded. Reports say Intel contacted TSMC about investment or manufacturing partnerships.
Recently, Intel secured investments from the U.S. government and Nvidia and is seeking more backers to revive its performance. Sources say Intel approached Apple for investment and discussed closer collaboration, though talks are early and may not yield a deal soon.
Meta Platforms, ninth in trading value, fell 1.54% with $7.916 billion traded. On September 24, CEO Mark Zuckerberg said Instagram’s monthly active users reached 3 billion. Meta last reported Instagram’s user data in December 2021, when it exceeded 2 billion. Facebook, another Meta platform, also surpassed 3 billion monthly active users.
Strategy, 12th in trading value, fell 6.99% with $6.662 billion traded. Crypto concept stocks broadly declined, with Ethereum-related stocks leading losses.
OKLO, 15th in trading value, fell 9.18% with $5.332 billion traded. Seaport analyst Jeff Campbell downgraded the stock from “buy” to “neutral” after its recent surge, citing current valuations.
Robinhood, 18th in trading value, fell 3.27% with $4.034 billion traded, as crypto concept stocks dropped collectively.
