On Wednesday, US stocks had the highest turnover.$NVIDIA (NVDA.US)$Rising by 1.58% with a turnover of 26.139 billion USD. According to reports, Nvidia has expanded its partnership with a consulting firm.$Accenture (ACN.US)$Expanding the partnership to promote the adoption of artificial intelligence (AI) in enterprises and increase orders for chip manufacturers. Accenture will establish a dedicated Nvidia business unit to assist customers in using and expanding generative AI tools.

The second.$Tesla (TSLA.US)$Falling by 3.49%, with a trading volume of 23.232 billion US dollars. Tesla's delivery volume data for the third quarter of this year shows an increase in auto sales for the first quarter of the year, but the quarterly delivery volume still falls short of market expectations.

The data shows that Tesla delivered 462,890 vehicles in the third quarter, slightly below the market estimate of 463,897 vehicles. The third-quarter automobile production was 469,796 vehicles, slightly above the market estimate of 465,828 vehicles. Among them, the delivery volume of Model 3/Y in the quarter was 439,975 vehicles, slightly above the market estimate of 435,920 vehicles. The production volume of Model 3/Y in the quarter was 443,668 vehicles, slightly above the market estimate of 434,051 vehicles.

However, benefiting from China's increased subsidies for electric vehicles, Tesla's automobile sales in the third quarter grew by 6.4%.

Ranked third, up 0.71%, trading at $8.267 billion. According to media reports, the Apple iPhone 16 series has entered full-scale production, and Foxconn's Zhengzhou factory is expanding its workforce to meet production targets. The expected sales target for iPhone 16 series this year is 90 million units, with a hope to achieve 95 million units. $Apple (AAPL.US)$ Rising by 0.25%, with a trading volume of 7.429 billion US dollars. The initial sales of Apple's latest iPhone 16 series globally fell below expectations, which had an impact on the display manufacturer$LG Display (LPL.US)$This is expected to potentially affect LG Display's performance in the second half of 2024.

On Tuesday local time, the Irish government outlined how it intends to use the 13 billion euros (approximately 14.4 billion dollars) in taxes paid by the American technology giant Apple, which has been an unexpected windfall for the country for years.

Irish Finance Minister Jack Chambers stated in his pre-election budget speech that a recent ruling by the European Court of Justice has provided the country with a "transformative" one-time income.

Previously, the European Court of Justice supported a 2016 ruling by the European Commission, requiring Apple to pay back 13 billion euros (about 102 billion RMB) in taxes to Ireland. EU regulatory agencies determined that the Irish government provided subsidies to attract Apple to establish its European headquarters, leading the company to pay almost no taxes for its European operations in certain years, creating unfair competition.

Ranked fourth.$Microsoft (MSFT.US)$Falling 0.85%, with a trading volume of 6.925 billion US dollars. Microsoft will invest 4.3 billion euros in Italy for the artificial intelligence field and expand its cloud computing business. In addition, Microsoft invested about 0.75 billion US dollars in the latest round of financing for OpenAI.

The fifth.$Alibaba (BABA.US)$Closing up 2.23%, trading at 6.141 billion US dollars. On Wednesday, Chinese stocks in the US stock market rose across the board.$NASDAQ Golden Dragon China (.HXC.US)$Closing up more than 4.9%.

On the evening of October 2, Alibaba announced in Hong Kong that during the quarter ending September 30, 2024, the company repurchased a total of 0.414 billion shares of common stock at a total price of 4.1 billion US dollars (equivalent to 52 million American depositary shares).

The announcement shows that these repurchases were conducted in the US stock market and Hong Kong stock market under the company's share repurchase plan. Under the board of directors' authorized share repurchase plan, the company still has a remaining repurchase amount of 22 billion US dollars, valid until March 2027.

As of the quarter ended June 30, Alibaba had invested 5.8 billion US dollars to repurchase 0.613 billion shares of common stock, setting a new record for single-quarter repurchases. In the second quarter, Alibaba had 19.024 billion shares of common stock outstanding, with a net decrease of 0.445 billion shares in the quarter, representing a net decrease of 2.3%. In the fiscal year 2024 (April 1, 2023, to March 31, 2024), Alibaba has cumulatively invested 12.5 billion US dollars in buybacks.

The sixth.$PDD Holdings (PDD.US)$Closed up 4.85%, with a trading volume of 5.458 billion US dollars.

Goldman Sachs recently released a research report stating that the median P/E ratio for the Chinese internet industry in the next 12 months is 14.3 times, with more than a 40% discount compared to the US internet industry. The valuations of e-commerce companies such as alibaba, pdd holdings, and jd.com are only 9-12 times, still below the median of the Chinese internet industry, with huge potential for value reassessment.

Ranked 7th among US medical and health service providers $Humana (HUM.US)$ Closed down 11.79%, with a trading volume of 4.586 billion US dollars. The stock has fallen for the third consecutive trading day, with a cumulative decline of 22.2% over the past three days.

Rank 11 $Alphabet-A (GOOGL.US)$ Closed down 0.68%, with a trading volume of 2.941 billion US dollars. Wells Fargo & Co recently lowered the target price of Google's parent company Alphabet (GOOG.O) from $190 to $182 on Wednesday.

Ranked thirteenth.$Nike (NKE.US)$Falling by 6.77%, with a turnover of 2.765 billion US dollars. On October 2, Nike Group announced the financial performance for the first quarter of the 2025 fiscal year (ending August 31, 2024).

In this fiscal quarter, Nike Group achieved revenue of 11.6 billion US dollars, a 10% decrease compared to the previous year on a reported basis. In this fiscal quarter, Nike's net income was 1.051 billion US dollars, a 28% year-on-year decrease; diluted EPS was 0.70 US dollars, exceeding market expectations of 0.52 US dollars, but down by 26% year-on-year.

Following the release of this financial report, Nike will also make personnel changes. During the conference call, Matthew Friend, Nike's Executive Vice President and Chief Financial Officer, announced that John Donahoe will step down as President and CEO, with Elliott Hill joining Nike on October 14 as the new President and CEO.

It is understood that Elliott, a longtime Nike veteran, led Nike to a turnaround and achieved double-digit growth for four consecutive years when Nike's North American business growth stalled in 2010. Nike stated that to provide more flexibility to the CEO, the company announced the withdrawal of the full-year performance guidance and postponed the investor meeting originally scheduled for November.

Ranked 14th $JD.com (JD.US)$ Closing up 4.36%, with a turnover of 2.64 billion US dollars. Brokerage Jefferies Financial raised JD.com's target price from $43 to $54 on Wednesday.

Ranked 17th. $Salesforce (CRM.US)$ Closing up 3.18%, with a turnover of 2.374 billion US dollars. Earlier, brokerage Piper Sandler raised Salesforce's target price from $268 to $325, upgraded from "Neutral" to "Shareholding". Wedbush raised its target price from $315 to $325, maintaining an "Outperform" rating, pointing out that more and more clients are recognizing the value of Salesforce's entire product portfolio.

Editor/Somer