On Friday, Nvidia, which was the top trading stock, fell 3.22% with a transaction volume of $83.244 billion. Apple, which was in second place, fell 1.04% with a transaction volume of $51.37 billion. Broadcom, which was in fourth place, fell 4.38% with a transaction volume of $16.77 billion.
On Friday, the US stock market had the highest trading volume. The stock fell by 0.09%, with a turnover of USD 49.5 billion. The stock has risen more than 10% this week. According to media reports, the US federal regulatory agency has reached an agreement to allow antitrust investigations into Microsoft, OpenAI, and Nvidia's dominant position in the AI industry.$NVIDIA (NVDA.US)$Down 3.22%, volume at 83.244 billion USD. The stock fell for two consecutive days on Thursday and Friday, with a cumulative decline of 6.64%, causing its market cap to evaporate by over 220 billion USD. According to reports, Nvidia has become the most shorted stock in terms of volume and change in volume in the U.S. stock market.
An insider said that Nvidia's competitor, AI chip start-up Cerebras Systems, has secretly submitted IPO documents to the US securities regulator and applied to go public on the Nasdaq Stock Exchange. The source also said that the IPO could take place later this year.
Apple, ranked second, fell 1.04%, with a volume of 51.37 billion USD. Apple and consumer lawyers have updated a $35 million settlement agreement that will resolve allegations over poor sound quality and impaired call capability of the iPhone 7 and 7 Plus phones sold by the company.
The U.S. Northern California District Court has preliminarily approved the settlement agreement in November 2023. Consumers claim that a defect in the iPhone diminishes audio quality, making it difficult to make calls or use Siri.
Ranked fourth.$Broadcom (AVGO.US)$Down 4.38%, volume at 16.77 billion USD. According to documents disclosed by the U.S. Securities and Exchange Commission (SEC) on June 20, Broadcom's President of the Semiconductor Solutions Group, Kawwas Charlie B, responsible for overseeing the company's global operations, sold 2,520 shares of common stock at an average price of $1,830.951 per share on June 17, worth about 4.614 million USD.
The fifth.$Microsoft (MSFT.US)$Up 0.92%, volume at 15.48 billion USD. Citigroup analyst Tyler Radke maintained a "buy" rating for Microsoft and raised its target price from $495 to $520. The reason behind this adjustment is Microsoft's large shares in the artificial intelligence startup OpenAI and recent positive news from the company.
According to the latest report, OpenAI's annual revenue has more than doubled, reaching $3.4 billion. In addition, OpenAI has signed an agreement with Microsoft to expand its cloud computing service capacity. Radke believes that both of these developments are positive from a growth perspective and highlight the strong power of Microsoft Azure cloud computing service.$Oracle (ORCL.US)$has signed an agreement with the purpose of expanding its cloud computing service capacity. Radke thinks that these two progresses are positive from the perspective of growth and highlight the strong power of Microsoft Azure cloud computing service.
Although the news of OpenAI is a bullish signal for Microsoft, Radke also warns that the significant losses in non-operating expenses of this startup led by Sam Altman may have a $0.04 to $0.05 impact on earnings per share.
The sixth.$Amazon (AMZN.US)$Up 1.6%, volume at 13.726 billion USD. According to sources, Amazon is planning a major overhaul of its voice assistant Alexa, which has been losing money for ten years. It will incorporate AI chatbots and offer two levels of service for monthly fees ranging from $5 to $10. This will be the first major reform for Alexa since its launch in 2014, and the new voice assistant will be called "Remarkable Alexa."
Some Amazon employees involved in the project said this is Amazon's last attempt to revitalize the Alexa service. Amazon has requested employees to prepare the latest version of Alexa by the end of August.
According to sources, Banco Santander, the Spanish banking giant,$Banco Santander (SAN.US)$is moving towards a final agreement with U.S. e-commerce giant Amazon, which will provide various consumer financing options for buyers on the Amazon platform throughout Europe. Sources said that discussions regarding the partnership are progressing smoothly.
The seventh.$Tesla (TSLA.US)$Up 0.79%, volume at 11.494 billion USD. Tesla's workforce has shrunk by at least 14% this year, after CEO Musk announced layoffs of more than 10%. Based on internal records and emails presented to 'everyone,' the number of Tesla employees (including temporary workers) slightly exceeded 121,000 as of June 17. As of December 31, 2023, Tesla's global employee count was 140,473 (including hourly and salaried employees). In April, Musk said Tesla would lay off over 10% of its workforce globally.
Ranked ninth.$Alphabet-C (GOOG.US)$Up 1.43%, volume at 10.772 billion USD. The company said at the Google Marketing Live (GML) China event on June 20 that while Chinese brands have significantly increased their global awareness and attracted a large number of new users, building trust with consumers remains a key challenge for Chinese brands going abroad.
11th place$Advanced Micro Devices (AMD.US)$Down 0.34%, volume at 9.877 billion USD. AMD China announced on its official Weibo account on June 21 that the fifth-generation AMD EPYC processors are expected to be available in the second half of 2024. The fifth-generation AMD EPYC processors based on the "Zen 5" core can support up to 192 cores and 384 threads, and have 13 small chips made using 3nm and 6nm process technologies.
15th place.$Qualcomm (QCOM.US)$Down 1.36%, volume at 4.828 billion USD.
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