On January 7, the U.S. stock trading volume rankings revealed a diverse range of market hotspots. NVIDIA topped the list with a trading volume of $50.015 billion, but its stock price plunged 6.22%, marking its worst single-day performance since September 2024. This performance is related to the new personal computing product Project DIGITS unveiled by NVIDIA CEO Jensen Huang at the CES 2025. The project, equipped with the GB10 super chip, aims to provide the capabilities for the development, fine-tuning, and deployment of large AI models, further cementing NVIDIA’s technological advantage in the semiconductor industry. Despite positive acknowledgment from investment bank Wedbush Securities, market reactions were tepid.
Tesla ranked second with a trading volume of $29.762 billion, and its stock fell by 4.06%. Bank of America downgraded its rating from "buy" to "neutral", citing overvaluation and high execution risks with future strategies such as autonomous taxis. Although the target price was raised from $400 to $490, the downgrade significantly impacted market sentiment.
Apple ranked third with a trading volume of $9.767 billion, and its stock saw a slight decline of 1.14%. Notably, Apple made a significant contribution to Ireland's record corporate tax revenue in 2024, with back taxes amounting to 11 billion euros. Additionally, Apple plans to invest $1 billion to build an AirTag factory on Batam Island, Indonesia, further expanding its global manufacturing footprint.
Cryptocurrency-related stocks performed poorly, with MicroStrategy’s stock plummeting 9.94% and a trading volume of $8.441 billion. Bitcoin prices also dipped briefly below $99,000, dragging down the related sector collectively.
Meta Platforms recorded a trading volume of $7.396 billion, with its stock declining by 1.95%. Meta announced an adjustment to its U.S. social platform content review strategy, terminating third-party fact-checking in favor of enhancing user freedom of expression through a community annotation system.
Microsoft traded $7.101 billion, with its stock down by 1.28%. Microsoft CEO Satya Nadella announced that the company will invest approximately $3 billion in India to expand AI and Azure cloud services, highlighting India as a critical growth market for American tech giants.
Additionally, Palantir’s stock dropped 7.81% due to Morgan Stanley downgrading its rating to "underweight". Morgan Stanley pointed out that although the company’s stock surged 340% in 2024, significant downside risks remain, setting the target price at $60.
Tech giants like Alphabet, Google's parent company, and TSMC were also listed. Alphabet showcased its AI-based upgraded Google TV software, while TSMC’s stock retreated by 3.9%, though still benefitting from the push of innovative technology.
Streaming company fuboTV was one of the few bright spots in the rankings, with its stock surging by 7.91% and a trading volume of $2.17 billion. The company’s merger plan with Disney’s Hulu+Live provided a strong positive boost.
Overall, actions by tech companies in AI, manufacturing investments, and product innovations have become the market's focal points. Despite some firms facing pressure from overvaluation or strategic risks, the market as a whole continues to show robust activity.
