Source: Global Market Report
On Friday, Nvidia, the number one in US stock turnover, closed down 0.78%, for the second consecutive trading day, with a transaction volume of US$67.199 billion; Amazon, which ranked 6th, closed down 1.61% and traded US$10.347 billion.
No. 1 in US stock turnover on Friday$NVIDIA (NVDA.US)$It closed down 0.78%, for the second consecutive trading day. The stock price fell below US$1,100 and traded US$67.199 billion. Prior to that, the stock had been rising for four consecutive trading days, and its market capitalization once reached an astonishing 2.8 trillion US dollars, only one step away from the top of the list, Apple.
Furthermore, according to people familiar with the matter, US officials have slowed the issuance of licenses to chip makers such as Nvidia and AMD to export AI accelerators on a large scale to the Middle East, while officials are conducting a national security review of artificial intelligence development in the region.
People familiar with the matter said that it is currently unclear how long the review will take, and there is no specific definition of mass shipment. Officials are particularly concerned about mass sales, as countries including the UAE and Saudi Arabia want to import large numbers of chips for artificial intelligence data centers, people familiar with the matter said.
According to media reports on Thursday, eight tech giants, including Intel, Google, Microsoft, and Meta, announced the establishment of a new industry organization, UALink Promoter Group (UALink for short), to set industry standards and guide the development of connectivity components between AI accelerator chips in data centers. Notably, Nvidia is not part of this industry organization.
Second place$Microsoft (MSFT.US)$Sales rose 0.11% to $19.768 billion. A UBS report speculates that Microsoft may be Nvidia's largest indirect customer, accounting for 19% of the chipmaker's 2024 revenue.
The report highlights that Nvidia's revenue is heavily dependent on a few key customers, and Microsoft is probably the most important of them. At the time of the announcement, Nvidia's sales were soaring, due in large part to demand for its advanced processors for artificial intelligence technology.
Despite the uncertainty surrounding Microsoft's position as Nvidia's largest customer, these speculations have drawn attention to the chipmaker's important role in the market. Nvidia's stock has surged 130% this year, and its market capitalization is close to $3 trillion.
Fourth place$Tesla (TSLA.US)$It closed down 0.4% to US$11.912 billion. The US National Highway Traffic Safety Administration (NHTSA) said on Thursday that Tesla will recall 125,227 cars due to a malfunctioning seat belt warning system.
The recalled cars include some 2012-2024 Model S, 2015-2024 Model X, 2017-2023 Model 3, and 2020-2023 Model Y cars.
6th place$Amazon (AMZN.US)$It closed down 1.61% and traded at US$10.347 billion. Amazon announced on May 30, local time, that the US Federal Aviation Administration (FAA) has allowed Amazon Prime Air delivery drones to fly beyond sight. Once approved, Amazon pilots can operate drones remotely. An FAA spokesperson said the approval applies to College Station, Texas, where Amazon launched a drone delivery service at the end of 2022.
Eighth place$Dell Technologies (DELL.US)$The closing was a sharp drop of 17.87%, and the transaction was US$9.222 billion.
The company released its financial report for the first quarter of fiscal year 2025. Although both revenue and profit exceeded expectations and the full-year revenue forecast was raised, due to increased AI costs, the EPS forecast for the second quarter fell short of expectations, and gross margin for fiscal year 2025 is expected to decline. The market expressed doubts about Dell's ability to monetize AI.
Dell expects adjusted gross margin to fall by nearly 150 basis points for fiscal year 2025. The adjusted EPS is 1.55 to 1.75 US dollars, far below the average forecast of 1.84 US dollars from analysts surveyed by the London Stock Exchange Group.
9th place$Salesforce (CRM.US)$The closing was 7.54% higher, partially recovering a decline of nearly 20% from the previous trading day, with a transaction of US$8.304 billion. Broker Macquarie lowered the company's target price from $330 to $275.
12th place$Alphabet-A (GOOGL.US)$Sales rose 0.23% to US$6.468 billion. Google's cloud division made massive layoffs this week. Employees of multiple Cloud teams have been told their jobs will be cancelled, according to an internal document and an informed employee. The total number of employees affected is unknown, but the employee estimates that the cloud division's “Go To Market” team in the Asia Pacific region has been laid off about 100 employees. The document shows that cloud teams focused on consulting, partner engineering, and sustainability have also been affected by layoffs. The report said that layoffs have become the norm within the search giant. Google has been laying off employees for a year and moving some jobs elsewhere. Compared to Google's surgical layoffs of other teams in recent months, this week's cloud division layoffs seem more thorough.
16th$Eli Lilly and Co (LLY.US)$The closing price was 0.65% higher, and the transaction was US$36.63 billion. Goldman Sachs analysts raised the global weight loss drug market forecast to 130 billion US dollars on Thursday. The forecast for the end of last year was 100 billion US dollars. The agency expects Eli Lilly's market share to be slightly higher than that of its rival Novo Nordisk.
20th$UnitedHealth (UNH.US)$The closing was 2.85% higher, and the transaction was $3,313 billion.
Editor/Jeffy