No. 1 in US stock turnover on Tuesday$NVIDIA (NVDA.US)$It closed down 4.35%, with a turnover of US$48.41 billion. The company will release earnings after the market closes on Wednesday. Investors are concerned about its sky-high valuations and the prospects for product competition.

Bank of America analyst Arya commented that investors are too optimistic about Nvidia's earnings expectations, which curbs Nvidia's potential to exceed expectations and makes the company prone to fluctuations. Currently, the implied volatility rate after earnings reports is 11%.

There are reports that an AI chip launched by an artificial intelligence solution startup called GroQ is 10 times faster than Nvidia GPUs, and the cost is only 1/10 of Nvidia's.

There is also news that Microsoft is developing a new network card to improve the performance of its artificial intelligence chip Maia, and ultimately achieve the goal of reducing dependence on Nvidia products.

Currently, Nvidia's trading volume has surpassed Tesla, and its market capitalization is also among the top US stocks, because people expect it to be a big winner in the development of artificial intelligence, and companies related to AI technology have become the center of investors' attention.

However, some analysts pointed out that such a large volume of trading also means that if Nvidia's revenue growth does not meet investors' high expectations, these investors may face great risks and disrupt the upward momentum of the US stock market due to optimism about AI.

Charles-Henry Monchau, chief investment officer at Banque Syz, said: “Nvidia's results announced on Wednesday could be a turning point for the market. The market relies on a small number of large growth stocks, and if their performance disappoints for any reason, there is a risk that the stock market will pull back.”

Second place$Tesla (TSLA.US)$It closed down 3.10% and traded $20.078 billion. Nvidia surpassed Tesla to become the most traded stock in the US stock market. Previously, Nvidia was already the third-largest company by market capitalization in the US. This evidence suggests that companies linked to AI technology have become the center of investor attention.

Furthermore, there are reports that the first test subjects of Musk's brain-computer interface company Neuralink have allegedly been able to control a computer mouse through ideas.

On Tuesday, Musk recently stated on social media platform X Spaces: “The patient appears to have fully recovered, had no adverse effects known to us, and is able to control the mouse. He can move the mouse around the screen just by thinking.”

3rd place$Super Micro Computer (SMCI.US)$Closing down 1.96%, the stock price fell below $800, and traded $18.872 billion. According to recent financial data, the stock achieved operating income of US$3,665 million, net profit of US$296 million, earnings per share of US$5.47, gross profit of US$564 million, and a price-earnings ratio of 62.75 times.

In terms of institutional ratings, out of all 15 agencies participating in the rating, 73% of brokerage firms gave buying suggestions, 20% gave holding suggestions, and 7% gave selling suggestions.

The stock price of ultra-microcomputers has soared 800% over the past year, thanks to the strong rise in the field of artificial intelligence, and is also related to the status of ultra-microcomputer data center service providers.

5th place$Advanced Micro Devices (AMD.US)$It closed down 4.69% to $10.956 billion. According to the latest news, AMD plans to begin mass production of its new-generation processor Zen 5 in the third quarter of 2024. In order to expand the market share of AI terminal products and increase sales of desktop computers, laptops, and servers, AMD will continue to cooperate with TSMC to produce Zen 5 chips codenamed “Nirvana.”

The report pointed out that after launching the MI300 series AI accelerator card, AMD increased its order scale for TSMC, focusing mainly on 3nm, 4nm, and 5nm processes. Industry analysts expect the 3nm process to take a relatively long time to mass-produce due to technical challenges. They estimate that AMD's 3nm Zen 5 architecture will begin mass production in the 2nd quarter of 2024, and mass production will begin in the 3rd quarter as production capacity increases.

6th place$Microsoft (MSFT.US)$It closed down 0.31% to $9.747 billion. On Tuesday, it was reported that Microsoft is developing an alternative to Nvidia's network card, similar to Nvidia's ConnectX-7 network card, to ensure the rapid movement of data between Microsoft's servers. Microsoft hopes that this new network device will not only save the company money, but also improve the performance of Nvidia's chip servers.

According to the media, the network card developed by Microsoft is similar to Nvidia's ConnectX-7, and development may take more than a year. If successfully developed, it can not only save Microsoft money, but also reduce the time for OpenAI to use Microsoft servers to train large AI models.

In addition to developing its own artificial intelligence (AI) chips, Microsoft is also trying to reduce its dependence on Nvidia in developing other AI-related products. OpenAI CEO Sam Altman has privately expressed concern that Microsoft's computing power is inferior to Google.

7th place$Apple (AAPL.US)$It closed down 0.41% to $9.711 billion. According to reports, Apple is still actively promoting the R&D project for foldable iPhones. Previously, there were reports that the company suspended the project due to concerns about the durability of folding screens.

The report said that Apple has assigned some key personnel from the Apple Vision Pro team to the project team. A person close to Apple's internal plans said that the company is actively developing a foldable iPhone and provided an estimated release period for the product, saying that Apple will sell foldable iPhones around September or October 2026.

10th$Walmart (WMT.US)$Sales rose 3.23% to $4.243 billion. Retail giant Walmart's fourth-quarter revenue was US$173.4 billion, up 5.7% year over year, better than market expectations of US$177.7 billion. Operating profit was US$7.254 billion, up 30.4% year on year; net profit attributable to the company was US$5.494 billion, down 12.4% year on year. Adjusted earnings per share were $1.80, better than market expectations of $1.65.

The company also announced that it has agreed to buy smart TV manufacturer Vizio Holding Corp. for approximately $2.3 billion. The deal will accelerate the company's advertising business called “Walmart Connect” and help it engage more with customers. Walmart has been expanding “Walmart Connect” and other faster-growing, higher-margin non-retail businesses.

12th place$Eli Lilly and Co (LLY.US)$It closed down 3.38% to $3,586 billion.

13th place$Adobe (ADBE.US)$It closed down 0.87% to $3.53 billion. Adobe on Tuesday launched an artificial intelligence (AI) assistant in its Reader and Acrobat apps that can generate summaries of PDFs and other documents and answer questions about PDFs and other documents.

According to a press release, the AI assistant is currently in beta and can now be used on Acrobat, and “Reader will provide some functionality in the coming days and weeks.” Adobe plans to release a subscription plan once the beta version of the tool is over.

16th$Discover Financial Services (DFS.US)$The revenue rose by 12.61% to US$2,793 billion. US credit card giant Capital One agreed to buy DFS for 35.3 billion US dollars, at a price of 1.0192 US dollars per share, a 26.6% premium over the closing price on February 16. The transaction is expected to be completed by the end of this year or the beginning of next year. Capital One shareholders will own approximately 60% of the combined company, and DFS shareholders will own the remaining 40% of the shares. The transaction is expected to generate a pre-tax synergy of 2.7 billion US dollars.

17th$Coinbase (COIN.US)$ Global closed down 3.89% to $2,764 billion.

19th place$Arm Holdings (ARM.US)$It closed down 5.12% and traded $2,517 billion. According to public information, SoftBank holds 90% of ARM's shares. Based on ARM's latest market value of 131.9 billion US dollars, SoftBank's shareholding value is about 118.9 billion US dollars. ARM's US stock listing in September of last year means that the 180-day ban faced by SoftBank will expire in March of this year. In the case of ARM's listing and low circulation volume, even a small sell-off will cause the stock price to fall.