Top 20 U.S. stocks by trading volume: Corning closed down 12.10% and its revenue guidance for the next quarter fell short of market expectations

Top 20 U.S. stocks by trading volume: Corning closed down 12.10% and its revenue guidance for the next quarter fell short of market expectations.

On Tuesday, Micron Technology, which ranked No. 1 in U.S. stock market turnover, closed down 8.85%, with a turnover of US$48 billion. U.S. semiconductor stocks including Micron generally fell on Tuesday, following weakness in Asia and Europe. The move comes on the heels of a massive sell-off in Asian markets.

In South Korea, SK Hynix closed down 14.65%, and Samsung Electronics fell over 13%. Other AI-related stocks also suffered heavy selling, with Samsung SDI down 11.37%, LG Innotek down 16.29%, Seoul Semiconductor down 8.78%, and LG Chem down 7.5% at the close. Japanese chip stocks also fell on Tuesday.

Tokyo Electronics closed down 10.96%, Advantest fell more than 10%, and SoftBank fell 4.43%. Shares of Japanese computer storage manufacturer Kioxia plunged more than 18%. Second-place SanDisk closed down 14.25%, with a transaction volume of US$28.4 billion.

So far, the stock has fallen for three consecutive trading days, with a decline of more than 10% on each of the three days, and a cumulative decline of nearly 32%. SanDisk's stock price has fallen by more than half from its June high. The stock closed at $2,335 on June 25.

Driven by the shortage of memory chips caused by artificial intelligence, the stock has skyrocketed throughout 2026, with an increase of more than 850% as of June. In the first half of 2026, funds poured into the memory chip sector.

However, investors have become more cautious in recent weeks, with the storage sector experiencing successive sell-offs and the overall semiconductor chip market weakening simultaneously. Third-place Nvidia closed up 0.25%, with a transaction volume of US$26.1 billion.

On July 27, local time, Nvidia announced that it had agreed to invest approximately US$5 billion in Safe Superintelligence, an artificial intelligence startup founded by former OpenAI chief scientist Ilya Sutskever. Apple, ranked fourth, closed up 0.94%, with a turnover of US$17.5 billion.

Apple's market value hit $5 trillion for the first time on Tuesday, just a day after surpassing Nvidia to become the most valuable public company. The iPhone maker will report quarterly results on Thursday and its shares have risen 25% this year, outperforming other Big Tech peers. The stock hit a high of $342.89 on Tuesday before retreating slightly.

While hyperscale companies such as Alphabet, Amazon, Meta and Microsoft have invested hundreds of billions of dollars in capital expenditures on their artificial intelligence buildouts this year, Apple's capital expenditures have been kept at a low level and use cloud infrastructure and AI technology from Google.

Apple trailed its trillion-dollar peers in market capitalization last year as investors worried the company was missing out on the AI boom by reining in investments and delaying the release of a long-awaited Siri upgrade that would launch this fall alongside new iPhone hardware.

But the narrative has flipped recently amid concerns that aggressive technology spenders are taking on debt and running negative cash flows without a clear path to strong returns. No. 5 AMD closed down 8.15%, with a turnover of US$16.4 billion.

Although AMD announced on Monday that it had signed an AI data center cooperation agreement of up to 2.5 gigawatts with Core Scientific, AMD's stock price still closed sharply lower on Tuesday, dragged down by the weakness of the entire chip sector. This decline reflects more of the overall "bleeding" effect of the AI hardware sector.

Affected by multiple factors such as the "Big Short" prototype, well-known Wall Street investor Michael Burry's short selling of the semiconductor sector, market doubts about the AI financing model, and rising risk aversion on the eve of the Federal Reserve meeting, the Philadelphia Semiconductor Index closed down 2.23% on Monday, and AMD closed down 5.17%.

When there is an obvious inflow of funds in the software and application layers, investors question the sustainability of large-scale capital expenditures, and pure hardware concept stocks are under obvious pressure. No. 6 Intel closed down 5.86%, with a turnover of US$12.9 billion. U.S. semiconductor stocks fell broadly on Tuesday.

The 10th-ranked Google Class A shares closed up 2.19%, with a turnover of US$9.744 billion. It was reported on Tuesday that Google has pledged to provide up to $44 billion in guarantees to cover data center leasing projects. The company will use financial tools to promote self-developed AI chips while controlling the scale of on-balance sheet assets. No.

16 Seagate closed down 8.53%, with a transaction volume of US$6.471 billion. Seagate reported fourth-quarter revenue of $3.629 billion after the U.S. stock market closed on Tuesday, higher than market forecasts of $3.485 billion. Revenue in the first fiscal quarter is expected to be US$4 billion to US$4.2 billion, with market forecasts of US$3.749 billion.

No. 17 SK Hynix closed down 8.98%, with a turnover of US$5.944 billion. After breaking out on Monday, the stock continued to fall on Tuesday. On the morning of Tuesday (July 28) local time in South Korea, South Korea's KOSPI index fell 11% intraday, SK Hynix fell more than 14%, and Samsung Electronics fell more than 13%.

It is worth noting that SK Hynix (SKHY.US), which has just completed its U.S. stock IPO, has already released risk signals in advance: its American Depositary Receipts (ADR) closed at $143.02 on the previous trading day, officially falling below the issue price of $149.

This AI storage super target, which was previously favored by global funds, fell into a "break" dilemma shortly after its listing, which also became an early warning signal for this Korean semiconductor sell-off.

As the core supplier of Nvidia's HBM high-bandwidth memory chips, SK Hynix is one of the companies that has benefited most directly from this round of global AI infrastructure investment boom and has the most flexible performance. This also makes its stock price extremely sensitive to marginal changes in industry sentiment.

Any disturbance in the demand and supply pattern of AI will directly trigger substantial inflows and outflows of funds. No. 18 Corning closed down 12.10%, with a turnover of US$5.542 billion.

Corning shares fell sharply on Tuesday as the company's revenue guidance for the next quarter fell short of market expectations, sparking investor concerns about its growth prospects.

Although Corning's revenue and earnings per share exceeded expectations in the quarter, and the fiber demand caused by the construction of AI data centers was strong, the company's expected core revenue range was US$4.9 billion to US$5 billion, which was lower than Wall Street's consensus forecast of US$5 billion.

This small gap has been magnified into a negative signal against the backdrop of recent market caution towards AI hardware stocks, and has dragged down the entire optical communications sector.

In addition, Corning's stock price has risen sharply due to the AI craze, accumulating greater profit-taking pressure, which also exacerbated the decline after the release of the financial report.

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