Top 20 U.S. stocks by turnover on July 16: Apple is rumored to be seeking to acquire AI chip companies
No. 1 in U.S. stock trading volume on Wednesday Technology closed down 8.02%, with a turnover of US$49.195 billion. The U.S. chip sector plunged across the board on Wednesday. It closed down 8.12%, with a turnover of US$29.913 billion. U.S. storage stocks generally fell on Wednesday. Some analysts believe that investors appear to be reducing their risk exposure to key semiconductor stocks and shifting funds to some large technology stocks. Third-place Nvidia closed up 0.33%, with a transaction volume of US$25.9 billion. Nvidia CEO Jensen Huang clearly denied market rumors that the launch of the next-generation AI performance booster system Vera Rubin may be delayed due to manufacturing issues. He told reporters at an event in Tokyo, Japan, that Vera Rubin hardware has been put into production and is ready to be delivered to customers as planned, and is moving towards "massive" production scale. It closed 4.01% higher, with a turnover of US$19.768 billion. According to media reports, Apple is seeking to acquire artificial intelligence chip companies. According to people familiar with the matter, Apple is seeking to acquire chip companies to strengthen its research and development of AI server chips. In recent months, the company has been talking to bankers about possible deals and has also reached out to semiconductor startups about potential sales. Apple's acquisition stemmed from performance issues with its internal AI servers. It is also reported that Apple is preparing to move forward with multi-billion dollar acquisitions. It previously acquired Q.Ai for US$2 billion, making it the second largest acquisition in history. It closed down 3.46%, with a turnover of US$14.645 billion. Giving AMD a "buy" rating and raising its price target for the next 12 months from $670 to $700 means there is still room for a 28% upside from Tuesday's closing price. On July 15, UBS said that AMD is expected to attract more customers and expand its semiconductor chip business, thus driving the stock price up further. UBS gave AMD a "buy" rating and raised its price target for the next 12 months from $670 to $700, which means there is still room for a 28% upside from Tuesday's closing price. UBS analyst Timothy Arcuri wrote in a note on Wednesday: "On the client side, we have always believed will be a significant customer for MI450x, and now we think Anthropic may be on the customer list as well. In addition, we may see AMD partner with Cerebras Systems to develop fast inference solutions... and may announce further expansion and deepening of its presence in the field of custom application-specific integrated circuits (ASICs) in the data center. "AMD's stock price has more than doubled in the past three months. No. 7 SK Hynix closed down 9%, with a turnover of US$13.321 billion. U.S. memory chip stocks plummeted across the board on Wednesday. It closed down 4.43%, with a turnover of US$12.322 billion. According to ASML on Tuesday, Intel has decided to purchase the company's high-end lithography machines to manufacture some of its flagship Panther Lake notebook processors. This move will also help the chip manufacturer become proficient in the use of the equipment. ASML said that Intel has officially launched ASML's new generation high numerical aperture extreme ultraviolet lithography machine (High NA EUV) since it started relevant trials in 2024, using this equipment to engrave circuit patterns for some of its Panther Lake processors. Class A shares closed up 3.17%, with a turnover of US$10.386 billion. Google recently appealed to the EU's Supreme Court to uphold a 2024 lower court ruling that revoked the 1.49 billion euro (approximately US$1.7 billion) antitrust fine previously issued by the European Commission against Google. It closed up 3.56% with a turnover of US$6.366 billion. Intelligent data infrastructure company NetApp and Oracle announced the launch of a new fully managed cloud storage service that natively integrates enterprise-class NetApp storage into Oracle Cloud Infrastructure. The service is currently open for preview to some customers and is designed to help enterprises simplify the migration and management of critical AI and enterprise workloads in the cloud.