Top 20 U.S. stocks by trading volume on July 14: SK Hynix’s stock price fell 9.3%
No. 1 in U.S. stock trading volume on Monday Technology closed down 4.32%, with a turnover of US$32.484 billion. The company recently announced that in response to the surge in memory demand in the artificial intelligence era, it plans to increase its investment in the United States from the previously committed $200 billion by 2035 to more than $250 billion. This expansion plan covers multiple projects in New York State, Idaho, and Virginia. Micron expects the increased investment to support its long-term goal of producing 40% of its DRAM products in the United States while creating more high-paying direct and indirect jobs. This expanded investment reflects Micron's confidence in its technology leadership and continued demand for its cutting-edge memory products. Second-place NVIDIA closed down 3.52%, with a transaction volume of US$24.754 billion. After recent market volatility caused Nvidia's (NVDA) stock price to fall by approximately 16% from its historical high in May, and its market value evaporated by approximately US$1 trillion, some institutions sent a clear signal to investors, reiterating the stock's "buy" rating and maintaining a target price of US$300, which means there is approximately 47% room for upside from the current level of approximately US$204. After communicating with Nvidia's investor relations team, analysts pointed out that market concerns mainly focus on three aspects: AI capital expenditures by hyperscale cloud service providers may slow down, rising memory costs squeeze profit margins, and customized chips from companies such as Broadcom threaten Nvidia's dominance. Analysts believe that although these concerns exist, they may be over-amplified. It closed down 12.63%, with a turnover of US$23.315 billion. U.S. memory chip stocks plunged across the board on Monday. It closed down 3.19%, with a turnover of US$12.895 billion. California Governor Gavin Newsom signed SB 168 on Monday, officially launching the "My First Electric Car" subsidy program, providing an instant car purchase discount of $3,500 to the first electric car buyers. The program consists of US$135.5 million in state government funds and equal matching from participating car companies, with a total scale of approximately US$270 million. The subsidy applies to new vehicles with a suggested retail price of no more than $50,000, and used electric vehicles with a retail price of no more than $25,000 (subsidy of $1,750). This price threshold directly benefits Tesla’s Model 3 and Model Y basic models, but the Cybertruck and high-end versions are not eligible for subsidies because they exceed the limit. It is worth noting that an exemption clause in the bill for “pure electric vehicle manufacturers headquartered in California” has become the focus. This clause exempts Rivian and other car companies from the $50,000 price cap, allowing their R2 model, which sells for about $58,000, to still enjoy subsidies. However, because Tesla will move its headquarters from California to Texas in 2021, it no longer meets the definition of "California headquarters" and therefore cannot enjoy this exemption. It closed down 4.21%, with a turnover of US$12.268 billion. AMD is about to announce its second quarter financial results. Many Wall Street institutions, including Bank of America, have sent positive signals to AMD, believing that demand for its server processors is strong and that it is expected to deliver results that exceed expectations. Bank of America reiterated its buy rating on AMD and raised its price target to $620. Analysts believe that AMD's continued expansion of EPYC server processor market share, solid cloud computing spending and improved supply visibility will bring another solid quarter to the company. In addition, its MI455X Helios AI rack system is expected to achieve initial shipments in the third quarter. The analysis also noted that AMD's broad server CPU portfolio puts it well-positioned to benefit from emerging agent-based AI workloads. Many other institutions also raised AMD's target price before the financial report. Some institutions raised the target price from US$600 to US$675 and reiterated a buy rating, believing that the fundamentals of the industry remain solid and emphasizing that the release of major AI products in the second half of 2026 is a key catalyst. Another institution has previously raised its target price by 41% to US$635. It also expects AMD to exceed expectations and raise its guidance. It closed down 6.12%, with a turnover of US$10.327 billion.
Maintaining NVIDIA's overweight rating, $288 price target and preferred status in the semiconductor industry. Based on the closing price of $202.78 on July 9 used in the report, the target price corresponds to a potential upside of approximately 42%. That valuation is roughly in line with the broader market and lower than computing chip peers such as AMD, Broadcom and Intel. No. 10 SpaceX closed down 4.24%, with a transaction volume of US$9.878 billion. The stock's share price extended its recent decline, once touching The lowest level since listing, with only a slight premium over the issue price. The huge increase in market value brought about by the previous IPO has almost all been given back. Market data shows that SpaceX's stock price has continued to fall since hitting a closing high of $225.64 on June 16, and has retraced more than 38% from this historical peak. On the first day of listing on June 12, SpaceX issued a share price of US$135 per share, which surged 29% to US$174 at the opening. The market value once approached US$1.77 trillion, setting a record for the largest IPO fundraising in global history. But market sentiment quickly reversed since then, with investors expressing concerns about the company's high valuation, continued huge losses and uncertainty about long-term projects. No. 11 SK Hynix (SKHY) closed down 9.32%, with a turnover of US$8.779 billion. Analysts pointed out that the plummeting share price of SK Hynix was a short-term market correction caused by the combination of multiple factors. The direct trigger was the performance forecast released by Korea Investment Securities, which showed that the company's second-quarter operating profit forecast was about 8% lower than the market consensus, causing investors to worry. The deeper reason is that SK Hynix's HBM products adopt long-term agreement pricing and cannot increase prices simultaneously with general DRAM, resulting in its short-term profit growth falling short of market expectations. At the same time, HBM4's shipments in the second quarter failed to increase as expected. In addition, before the company's listing in the United States, the stock price had risen by about 630%. Investors were in a strong profit-taking mood after the good news was realized. Although the Bank of Korea and company management emphasized that the chip super cycle is still continuing, market concerns about the cyclical nature of memory chips, high valuations, and doubts about the return on AI investment have jointly triggered this correction. Burry, the famous big short seller, regards the recent Korean government-led unprecedented large-scale memory chip expansion plan of SK Hynix and Samsung Electronics as one of the important signs that the AI investment cycle is "beginning to end." He calls this Korean project a "peak capital expenditure signal" rather than an "immediate production capacity signal" and calls it "the beginning of the end" of the AI boom. His judgment is not that these factories will immediately cause oversupply next year, but is based on the classic spider web cycle of the semiconductor industry: the most optimistic demand forecasts, the highest chip prices and the loosest financing conditions often prompt all manufacturers to announce huge production expansions at the same time at the peak of the cycle; because it takes many years for advanced fabs to go from planning, land, power and clean room construction, large-scale introduction of semiconductor equipment to mass production, the real supply peak will usually arrive when market demand has cooled down. It closed down 6.47%, with a turnover of US$7.516 billion. S&P downgraded Oracle's rating to "BBB-" and named OpenAI as a key credit risk. The main reasons for the downgrade are: first, AI capital expenditures have surged to US$95 billion and returns are long-term, putting pressure on cash flow; second, it is extremely dependent on OpenAI (accounting for nearly half of the contract obligations). If the company with questionable valuation is in danger, Oracle will face idle production capacity and financial impact. S&P Global downgraded Oracle's credit rating by one notch, citing significant overruns in capital expenditures for its AI business and substantial risks posed by its high dependence on OpenAI. On July 12, S&P Global lowered Oracle's credit rating from "BBB" to "BBB-", just one notch above junk level. S&P clearly listed OpenAI as Oracle's "key credit risk" in its rating report, pointing out that the cash consumption of Oracle's AI business has far exceeded expectations - the capital expenditure forecast has been significantly increased from the previous US$60 billion to US$95 billion in 2027, while the corresponding revenue will not be realized until several years later. This downgrade directly reflects the market's rising concerns about Oracle's financial resilience. No. 17 Marvel Technology closed down 7.75%, with a transaction volume of US$5.525 billion. The U.S. memory chip sector generally fell on Monday.
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Maintaining NVIDIA's overweight rating, $288 price target and preferred status in the semiconductor industry. Based on the closing price of $202.78 on July 9 used in the report, the target price corresponds to a potential upside of approximately 42%. That valuation is roughly in line with the broader market and lower than computing chip peers such as AMD, Broadcom and Intel. No. 10 SpaceX closed down 4.24%, with a transaction volume of US$9.878 billion. The stock's share price extended its recent decline, once touching The lowest level since listing, with only a slight premium over the issue price. The huge increase in market value brought about by the previous IPO has almost all been given back. Market data shows that SpaceX's stock price has continued to fall since hitting a closing high of $225.64 on June 16, and has retraced more than 38% from this historical peak. On the first day of listing on June 12, SpaceX issued a share price of US$135 per share, which surged 29% to US$174 at the opening. The market value once approached US$1.77 trillion, setting a record for the largest IPO fundraising in global history. But market sentiment quickly reversed since then, with investors expressing concerns about the company's high valuation, continued huge losses and uncertainty about long-term projects. No. 11 SK Hynix (SKHY) closed down 9.32%, with a turnover of US$8.779 billion. Analysts pointed out that the plummeting share price of SK Hynix was a short-term market correction caused by the combination of multiple factors. The direct trigger was the performance forecast released by Korea Investment Securities, which showed that the company's second-quarter operating profit forecast was about 8% lower than the market consensus, causing investors to worry. The deeper reason is that SK Hynix's HBM products adopt long-term agreement pricing and cannot increase prices simultaneously with general DRAM, resulting in its short-term profit growth falling short of market expectations. At the same time, HBM4's shipments in the second quarter failed to increase as expected. In addition, before the company's listing in the United States, the stock price had risen by about 630%. Investors were in a strong profit-taking mood after the good news was realized. Although the Bank of Korea and company management emphasized that the chip super cycle is still continuing, market concerns about the cyclical nature of memory chips, high valuations, and doubts about the return on AI investment have jointly triggered this correction. Burry, the famous big short seller, regards the recent Korean government-led unprecedented large-scale memory chip expansion plan of SK Hynix and Samsung Electronics as one of the important signs that the AI investment cycle is "beginning to end." He calls this Korean project a "peak capital expenditure signal" rather than an "immediate production capacity signal" and calls it "the beginning of the end" of the AI boom. His judgment is not that these factories will immediately cause oversupply next year, but is based on the classic spider web cycle of the semiconductor industry: the most optimistic demand forecasts, the highest chip prices and the loosest financing conditions often prompt all manufacturers to announce huge production expansions at the same time at the peak of the cycle; because it takes many years for advanced fabs to go from planning, land, power and clean room construction, large-scale introduction of semiconductor equipment to mass production, the real supply peak will usually arrive when market demand has cooled down. It closed down 6.47%, with a turnover of US$7.516 billion. S&P downgraded Oracle's rating to "BBB-" and named OpenAI as a key credit risk. The main reasons for the downgrade are: first, AI capital expenditures have surged to US$95 billion and returns are long-term, putting pressure on cash flow; second, it is extremely dependent on OpenAI (accounting for nearly half of the contract obligations). If the company with questionable valuation is in danger, Oracle will face idle production capacity and financial impact. S&P Global downgraded Oracle's credit rating by one notch, citing significant overruns in capital expenditures for its AI business and substantial risks posed by its high dependence on OpenAI. On July 12, S&P Global lowered Oracle's credit rating from "BBB" to "BBB-", just one notch above junk level. S&P clearly listed OpenAI as Oracle's "key credit risk" in its rating report, pointing out that the cash consumption of Oracle's AI business has far exceeded expectations - the capital expenditure forecast has been significantly increased from the previous US$60 billion to US$95 billion in 2027, while the corresponding revenue will not be realized until several years later. This downgrade directly reflects the market's rising concerns about Oracle's financial resilience. No. 17 Marvel Technology closed down 7.75%, with a transaction volume of US$5.525 billion. The U.S. memory chip sector generally fell on Monday.
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