Tesla, the No. 1 in U.S. stock trading volume on Thursday, closed up 1.76%, trading $30.2 billion. Tesla doubled the discount on some Model 3 models to $2,680 in inventory and reinstated discounts on some Model Y models at a discount of nearly $600 each.
In addition, Tesla CEO Elon Musk regained the title of the world's richest man. Thanks to Tesla's soaring stock price, Musk's fortune has grown by more than $55.3 billion this year. According to one data, Musk's current net worth is about $192.3 billion.
No. 2 Nvidia closed up 5.12% with $24.5 billion. According to a research report, the generative AI market will reach $1.3 trillion by 2032. The report also said that companies such as Amazon's cloud division, Google's parent company Alphabet, Nvidia and Microsoft, which has invested billions of dollars in OpenAI, could be the biggest winners in the AI boom.
Third-place Apple closed up 1.6% with $11.7 billion. Apple is reportedly working on plans to expand and strengthen its retail chain to further expand its business in China and the rest of Asia, while the company will also reform its legacy stores in the United States and Europe.
According to people familiar with the matter, Apple is discussing opening 15 new stores in the Asia-Pacific region by the end of 2027, five in Europe and the Middle East, and four more stores in the United States and Canada. The company also plans to renovate or relocate six stores in Asia, nine in Europe and 13 in North America. Overall, Apple plans to build, relocate or renovate 53 stores over the next four years.
No. 4 Microsoft closed up 1.28% with $8.52 billion. Microsoft agreed to invest billions of dollars in startup CoreWeave in cloud infrastructure over the next few years. CoreWeave announced Wednesday that it has raised $200 million.
Just over a month ago, the company received a $2 billion valuation. CoreWeave announced Wednesday that it was receiving funding from hedge fund Magnetar Capital, a continuation of April's $221 million round. In addition, NVIDIA invested $100 million in previous financings. CoreWeave was founded in 2017 and has 160 employees.
No. 6 Meta Platforms closed up 2.98% with $6.81 billion. On Thursday, Meta CEO Mark Zuckerberg released the company's latest generation of virtual reality (VR) headset, the Quest, starting at $3,499 ahead of Apple's WWDC conference.
In the fall of 2020, Meta launched Quest 2. The Quest 3, the next generation of Quest 2's headset, will be available this fall. The Quest 3 has at least three cameras on the front, promising to improve the user's visual experience. According to Meta's official website, the Quest 3's display section is 40% thinner than the Quest 2.
No. 8 Broadcom closed down 2.23% with a deal of $5.83 billion. J.P. Morgan analyst Harlan Sur research report pointed out that Broadcom's customized IC business continues to receive orders from Google to produce the AI chip TPU tensor processing unit developed by Google. Sur mentioned that according to Broadcom, the revenue of customized cloud chips this year is estimated to reach $3 billion, and customers include Google, Microsoft and Meta. Sur believes that with the increase in Google's orders, Google's TPU orders alone will contribute to Broadcom's revenue contribution of $3 billion, or more.
No. 9 Saifse closed down 4.69% with $4.42 billion. SAIFTHE's revenue in the first quarter of fiscal 2024 increased 11% year-on-year to US$8.25 billion, the lowest growth rate in 13 years; net profit of US$199 million was less than expected; revenue in the second quarter was expected to be US$8.51 billion to US$8.53 billion, compared with market expectations of US$8.49 billion.
Rigger Financial raised its price target on SAFTSE to $260 from $240. Oppenheimer raised its price target to $235 from $225.
The 12th-place U.S. discount chain Dalle Corp. closed down 19.51% with a turnover of $2.99 billion. Dale lowered its full-year same-store sales and profit forecasts as consumers tightened non-essential spending due to rising prices for a variety of goods, from household goods to consumables, due to persistent inflation.
The company expects sales to grow 1% to 2% in fiscal 2023, compared with a previous expectation of 3% to 3.5% and an average analyst expectation of 3.76%; Net sales are expected to increase by approximately 3.5% to 5.0%, compared to expectations of 5.5% to 6% growth; Earnings per share are expected to be -8% to 0%, down from the approximately 4% to 6% growth previously forecast.
The 14th C3.ai closed down 13.22% with a turnover of $2.83 billion. C3.ai company's revenue of US$72.4 million and net loss of US$65 million in the fourth quarter of fiscal 2023 are better than market expectations; revenue in fiscal 2024 is expected to be US$295 million to US$320 million, with a median value lower than market expectations of US$317 million.
Wadebush upgraded his C3.ai rating from neutral to outperform, raising his price target to $50 from $24.
No. 16 CrowdStrike closed down 1.61% with $2.43 billion. CrowdStrike's revenue for the first quarter of fiscal 2024 increased 42% year-over-year to $693 million, with a net profit of $4.9 million, a year-over-year turnaround, and is expected to have revenue of $717.2 million to $727.4 million in the fiscal second quarter, compared with market expectations of $718.9 million.
Wells Fargo raised its CrowdStrike price target to $175 from $165.
Alibaba closed up 4.34% at 17th place, with a deal of $1.91 billion. Alibaba Cloud said that its new AI product "Tongyi Hearing" has started public beta, and during the public beta period (June 1-30, 2023), users can experience all AI functions, including high-level AI functions such as full-text summary, chapter overview, and speech summary.
Palantir, the 19th AI concept stock, closed down 1.16% at $1.83 billion.
Here are the 20 most actively traded stocks in the U.S. stock market on the day (by turnover):
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