On Thursday, the U.S. stock market's turnover leaderboard showed a lively market, with several companies drawing attention due to significant news and market developments.
Tesla Leads Declines
Tesla (TSLA) topped the leaderboard with a turnover of $36.601 billion, but its stock price fell by 1.57%, closing at $418.10. On Wednesday, Tesla reached a historical high, and its CEO Elon Musk's net worth surpassed $400 billion, making him the first person in history to reach this milestone.
Nvidia Denies Supply Cut Rumors
Nvidia (NVDA) ranked second with a turnover of $20.82 billion, with its stock price dropping 1.41%. The company issued a statement denying social media rumors of a "cutoff to the Chinese market" and reiterated that China is a crucial market for them. Meanwhile, Nvidia is under investigation by China's State Administration for Market Regulation for alleged antitrust violations. Additionally, Nvidia, along with AMD and Intel, has invested in the photonic chip startup Ayar Labs, aiming to foster breakthroughs in optical communication technology.
Microsoft's Impairment Related to Autonomous Driving Investment
Microsoft (MSFT) ranked third with a turnover of $8.836 billion, with a slight stock price increase of 0.13%. The company announced an $800 million impairment charge for the second fiscal quarter, prompted by a reassessment of its minority equity investment in General Motors' autonomous driving subsidiary, Cruise. Microsoft stated that this step is to more accurately reflect the market value of the investment.
Adobe's Performance Forecast Triggers Sell-Off
Adobe (ADBE) saw its stock plunge by 13.69%, marking its biggest single-day drop in two years, with a turnover of $8.32 billion. Concerns arose that its revenue and earnings-per-share guidance for fiscal 2025 fell short of analysts' expectations, raising fears that it may be disrupted by emerging artificial intelligence startups. Several investment banks have lowered Adobe's target price, intensifying the selling pressure.
Bitcoin Surpasses $100,000, MicroStrategy Shares Fall
Bitcoin surpassed the $100,000 mark on Thursday, but later retreated below this critical level. As a result, MicroStrategy's (MSTR) stock price fell by 4.67%, with a turnover reaching $8.221 billion.
Apple Ventures into AI Chip Development
Apple (AAPL) ranked sixth with a turnover of $7.436 billion, with its stock price increasing by 0.60%. It is reported that Apple is collaborating with Broadcom to develop a server AI chip codenamed Baltra, with plans for mass production by 2026. This marks a significant step for Apple in reducing its dependency on external chip suppliers like Nvidia.
Google Unveils Revolutionary Quantum Chip
Google (GOOGL) announced the launch of its next-generation quantum chip, Willow, which performed exceptionally in random circuit sampling tests. This chip significantly reduces error rates, solving problems in less than five minutes that would take a supercomputer billions of years.
Amazon's Stock Slightly Adjusts
Amazon (AMZN) saw a slight stock price decrease of 0.56%, with a turnover of $6.093 billion. Investors' optimism about the U.S. economic outlook and the upcoming Christmas shopping season may bring a pleasant surprise for Amazon's fourth-quarter performance.
