No. 1 in US stock turnover on Friday$NVIDIA (NVDA.US)$The closing price plummeted 10% to US$69.698 billion. After TSMC lowered its growth expectations for the chip market, global semiconductor stocks retreated one after another, and investors scrambled to lock in profits.

On Thursday, TSMC cut its growth forecast for the global logic semiconductor industry this year from more than 10% to around 10%. This change has fueled concerns about a resurgence in demand for chips used in electric cars, computers, and smartphones.

Kazuyoshi Saito, senior analyst at iWAICosmo Securities, said, “Chip stocks have always attracted attention due to the development of artificial intelligence, so any slight concern about their prospects will trigger a large-scale sell-off.”

Second place$Super Micro Computer (SMCI.US)$The closing was a sharp drop of 23.14%, and the transaction was US$13.385 billion. Ultramicrocomputer did not announce performance forecasts, and some research reports claimed that its stock price was overvalued.

On Friday, an industry research report screened the stocks with the largest valuation premiums in the S&P 500 index based on FactSet data, that is, stocks with a higher current dynamic cost to equity ratio compared to the average dynamic cost of the past 5 years.

According to this screening results, ultra-microcomputers, Broadcom, etc. are considered overvalued by stocks, which means that their current prices are not in line with their price-earnings ratio.

3rd place$Tesla (TSLA.US)$It closed down 1.92% to $12.952 billion. Tesla announced on Friday (April 19, 2024) that it will recall 3,878 CyberTruck pickups to repair or replace accelerator pedals. The reason is that these accelerator pedals may shift and cause the vehicle to accelerate inadvertently, increasing the risk of a crash.

According to a recall report submitted to the National Highway Traffic Safety Administration (NHTSA), Tesla has received two customer reports relating to the issue. Tesla claims that when the driver forcefully presses on the accelerator, the CyberTruck's accelerator pedal may shift and get stuck in the interior decoration.

The recall also gave people the first insight into how many Cybertruck electric pickup trucks the company has sold since November of last year.

Fourth place$Microsoft (MSFT.US)$It closed down 1.27% to $12.245 billion. Microsoft's performance report will be released on April 25. Bank of America raised its revenue forecast by 1%, mainly due to strong performance in the Azure and Microsoft 365 divisions. The bank maintains a target price target of $480 for Microsoft.

5th place$Meta Platforms (META.US)$It closed down 4.13% to $12.242 billion. On Thursday, Meta Platforms launched Llama 3, the latest product in its “Llama” series of open source language models. In this release, two open source Llama 3 8B and Llama 3 70B models were released for free use by external developers. Both versions of Llama 3 will soon be available to major cloud vendors.

6th place$Apple (AAPL.US)$It closed down 1.22% to $11.255 billion. According to people familiar with the matter, Apple's proposal to open up its “tap-and-go” (tap-and-go) mobile payment system to competitors will be approved by EU antitrust regulators as early as next month after adjusting some provisions.

Apple hopes to reach a settlement over a four-year investigation, which will help it avoid being found to have committed possible misconduct and avoid huge fines that could be as high as 10% of its global annual turnover. People familiar with the matter said that the European Commission's goal is to accept Apple's proposal by this summer. The most likely month is May, but the timing is still likely to change because the European Commission is waiting for Apple to finalize the final technical details.

7th place$Advanced Micro Devices (AMD.US)$It closed down 5.44% to $10.685 billion. AMD recently released Ryzen PRO series commercial processor products based on the new Zen 4 architecture+RDNA architecture+XDNA architecture. According to the latest news, Ryzen PRO 8040 series chips for laptops and Ryzen PRO 8000 series chips, which focus on desktops, are all manufactured by TSMC and are expected to be launched in the second half of this year.

Eighth place$Amazon (AMZN.US)$It closed down 2.56% to $9.832 billion. According to reports, after a government agency makes a ruling in favor of the GMB trade union, US tech and retail giant Amazon may soon be required to officially recognize this union located in the Coventry warehouse in the UK.

9th place$Netflix (NFLX.US)$It closed down 9.09% to $9.259 billion. Netflix's revenue for the first fiscal quarter was US$9.370 billion, up 14.8% year on year; net profit was US$2,332 million, up 79% year on year; and diluted earnings per share were US$5.28, a significant increase compared to US$2.88 in the same period last year.

Netflix's first-quarter revenue and earnings per share both exceeded Wall Street analysts' expectations. The outlook for second-quarter revenue and earnings per share for the second quarter of FY2024 also exceeded expectations, but the outlook for full-year revenue for FY2024 fell short of some analysts' expectations.

11th$Broadcom (AVGO.US)$It closed down 4.31% to US$5.455 billion. On Friday, an analyst said its stock price was overvalued.

12th place$Alphabet-A (GOOGL.US)$It closed down 1.23% and traded $5.03 billion. Google CEO Sundar Pichai (Sundar Pichai) announced the full integration of Google's AI work team structure, saying that this move will help the tech giant develop artificial intelligence products and services more quickly and efficiently.

Pichay said in a blog post and a notice to employees on Thursday that the Google Research AI team, which focuses on AI models and research in related fields such as ensuring the security of AI technology, will be fully integrated into DeepMind, the company's flagship artificial intelligence business unit.

The DeepMind team developed Google's most advanced artificial intelligence model, Gemini, which was unveiled at the end of last year and can process different forms of information such as video, audio, and text. Pichay said last year that the company plans to release a series of artificial intelligence models in 2024.

14th$Taiwan Semiconductor (TSM.US)$It closed down 3.46% to $3.631 billion. The US stock chip sector generally declined on Friday after TSMC lowered its growth forecast for the chip market.

The world's largest advanced chip maker lowered its forecast for semiconductor market growth in 2024 (excluding memory chips) to around 10%. CEO Wei Zhejia also lowered the growth forecast for TSMC's leading foundry industry. Meanwhile, the company kept its estimated spending on capacity expansion and upgrades this year between $28 billion and $32 billion.

17th$Arm Holdings (ARM.US)$It closed down 16.90% and traded $2,748 billion. Arm CEO Rene Haas said on Friday that AI's huge demand for computing power is threatening the energy supply and requiring the industry to change its technical approach. Haas said that by 2030, the electricity consumption of global data centers will exceed that of India, the world's most populous country.

Editor/Jeffrey