On Wednesday, Nvidia, the number one in terms of US stock turnover, closed down 3.89% to US$46.699 billion; Amazon, which ranked second, closed 2.29% higher, with a transaction of US$17.064 billion; and Tesla, which ranked third, closed down 1.80%, with a transaction of US$16.85 billion.
Nvidia ranked No. 1 in US stock turnover on Wednesday$NVIDIA (NVDA.US)$It closed down 3.89% to US$46.99 billion. S&P raised Nvidia's rating to AA-, and the outlook is stable, mentioning that it continues to invest steadily in AI.
Second place$Amazon (AMZN.US)$Sales rose 2.29% to $17.064 billion. Amazon's net sales for the first fiscal quarter were US$143.31 billion, and analysts expected US$142.59 billion; adjusted earnings per share were $0.98, higher than the forecast of $0.83, an increase of 216% year over year.
3rd place$Tesla (TSLA.US)$It closed down 1.80% and traded at US$16.85 billion. Bank of America predicts that Tesla's launch of fully autonomous driving (FSD) in China is expected to increase its annual profit by more than 2 billion US dollars. The media reported on Wednesday that Tesla abandoned the “Gigacasting” (integrated die casting) manufacturing process plan and cut expenses amid declining sales and increased competition.
Fourth place$Advanced Micro Devices (AMD.US)$The closing price plummeted 8.91% to USD 13.039 billion. AMD's outlook for the AI chip business falls short of expectations. The company expects the MI300 series chips — so-called artificial intelligence accelerators — to generate around $4 billion in revenue this year, which is higher than the previous forecast of $3.5 billion, but the highest expectation from some analysts is $8 billion.
AMD is seen as Nvidia's main competitor in the accelerator market, and the company is working to close the gap with the former.
5th place$Super Micro Computer (SMCI.US)$The closing price fell 14.03% to US$99.57 billion. Ultramicrocomputer's third-fiscal quarter revenue was US$3.85 billion, up 200% year over year, but fell short of market expectations of US$3.95 billion; adjusted earnings per share were US$6.65, better than market expectations of US$5.78. Ultramicrocomputer raised its revenue guidance for the 2024 fiscal year from 14.3 billion to 14.7 billion US dollars to 14.7 billion US dollars to 14.7 billion US dollars. Analysts expected 14.6 billion US dollars.
6th place$Microsoft (MSFT.US)$The closing was 1.44% higher, and the transaction was $9.31 billion. Microsoft announced on Wednesday that it plans to open its first regional data center in Thailand to increase the availability of its Azure cloud services. The day before, Microsoft CEO Satya Nadella also announced an investment of 1.7 billion US dollars in artificial intelligence (AI) and cloud facilities in neighboring Indonesia.
“This data center area will expand the availability of Microsoft's hyperscale cloud services,” Microsoft said in a statement.
According to another report, eight US newspaper publishers, including the “New York Daily News” under the hedge fund Alden Global Capital, sued Microsoft and OpenAI for infringement in New York federal court on Wednesday.
Eighth place$Apple (AAPL.US)$It closed down 0.60% and traded $8.595 billion. According to reports, in response to recent feedback from some iPhone users that the alarm cannot go off, Apple issued an official statement confirming that a software error is the root cause of this phenomenon. The company said they were “aware of an issue that prevented some iPhone alarms from playing the expected sound” and are “urgently studying a solution.”
According to another report, Apple is planning to add artificial intelligence technology to its Safari browser, which is expected to be launched along with the release of iOS 18. This innovation is expected to be unveiled at Apple's Global Developers Conference this year, bringing users a more intelligent and personalized web browsing experience.
10th$Alphabet-A (GOOGL.US)$The closing was 0.66% higher, and the transaction was US$5.519 billion. According to reports, Google is laying off at least 200 employees in key teams, including engineers, and Google has moved some positions to India and Mexico. Additionally, the company is recruiting employees in Mexico and India to restructure its core division.
11th$Starbucks (SBUX.US)$It closed down 15.88% to US$4.944 billion. Starbucks's financial report for the second quarter of 2024 shows that due to a decrease in customer frequency and order size, the company's revenue, profit, and same-store sales growth fell short of market expectations. Second-quarter revenue fell 2% year over year to $8.6 billion, and adjusted earnings per share fell 8% to $0.68. Global same-store sales fell 4% year over year, and transaction volume fell 6%. Despite a 2% increase in average spending, the impact of the aforementioned decline was not fully offset.
Starbucks' international business faced challenges, particularly in the Chinese market, where same-store sales fell sharply by 11%. Starbucks has revised its 2024 growth forecast for the third time. The company now expects global revenue growth to be low in single digits, far below the previous forecast range of 7% to 10%.
Notably, according to financial reports, in terms of the sinking market, Starbucks China added a net of 118 new stores in the second quarter, an increase of 14% over the previous year, bringing the total number of stores to 7093. Twenty new cities have been added, covering nearly 900 county-level cities.
14th$CVS Health (CVS.US)$The closing price fell 16.84% to US$36.67 billion. The company's financial data for the first quarter fell short of expectations, and the full-year outlook was lowered. Net profit fell to $1.11 billion, or 88 cents per share, from $2.14 billion or $1.65 per share in the same period last year. After deducting non-recurring items, adjusted earnings per share were $1.31, which was lower than FactSet's agreed estimate of $1.69. Revenue increased 3.7% to $88.44 billion, but fell short of FactSet's agreed estimate of $89.33 billion.
For 2024, the company lowered its adjusted earnings per share forecast from “at least $8.3” to “at least $7.”
16th$Pfizer (PFE.US)$The closing was 6.09% higher, and the transaction was US$2.62 billion. Pfizer's first-quarter revenue was US$14.9 billion, and the market estimated US$13.91 billion; adjusted earnings per share were US$0.82, and the market expected US$0.51. Sales of non-COVID-19 drugs during the period exceeded market expectations. Pfizer raised its earnings guidance and expects adjusted earnings per share of $2.15 to $2.35 in 2024, up from $2.05 to $2.25 previously, and analysts' expectations of $2.21.
18th place$Johnson & Johnson (JNJ.US)$The closing was 4.56% higher, and the transaction was $2,178 billion. Johnson & Johnson announced a restructuring plan proposed by its subsidiary LLT Management LLC to fully and finally resolve all claims relating to ovarian cancer in current and future talc lawsuits against the company and its US affiliates. The plan promises the company to pay compensation worth approximately US$6.475 billion to claimants over 25 years.
editor/tolk