Top 20 U.S. stocks in terms of turnover on May 1: Starbucks fell 16%, and sales in China fell 11%

Nvidia, the No. 1 U.S. stock trading volume on Wednesday, closed down 3.93%, with a turnover of $46.327 billion. S&P upgraded Nvidia to AA- with a stable outlook and a continued healthy investment in AI.

No. 2 Amazon closed up 2.29%, with a turnover of 100 million US dollars. Amazon's fiscal first-quarter net sales were $143.31 billion, compared to analysts' expectations of $142.59 billion, and adjusted earnings per share were $0.98, beating expectations of $0.83 and increasing 216% year-over-year.

No. 3 Tesla closed down 1.80%, with a turnover of $16.728 billion. BofA predicts that Tesla's Full Self-Driving (FSD) landing in China is expected to increase its annual earnings by more than $2 billion. Media outlets reported on Wednesday that Tesla abandoned plans for its "Gigacasting" manufacturing process and cut back on spending amid declining sales and increased competition.

No. 4 AMD closed down 8.91%, with a turnover of $12.862 billion. AMD's outlook for the AI chip business was worse than expected. The company expects the MI300 series of chips — so-called AI accelerators — to generate about $4 billion in revenue this year, up from a previous forecast of $3.5 billion, but some analysts have the highest expectation of $8 billion.

AMD is seen as a major competitor to Nvidia in the accelerator market, and the company is working hard to close the gap with the former.

No. 5 supermicrocomputer closed down 14.03%, with a turnover of $9.911 billion. Supermicro's third-quarter revenue was $3.85 billion, up 200% year-over-year, but missed the consensus of $3.95 billion, and adjusted earnings per share were $6.65, better than the consensus of $5.78. Supermicro raised its FY2024 revenue guidance to $14.7 billion to $15.1 billion from $14.3 billion to $14.7 billion, compared to analysts' expectations of $14.6 billion.

No. 6 Microsoft closed up 1.44%, with a turnover of $9.204 billion. Microsoft announced on Wednesday plans to open its first regional data center in Thailand to improve the availability of its Azure cloud services. A day earlier, Microsoft CEO Satya Nadella also announced a $1.7 billion investment in artificial intelligence (AI) and cloud infrastructure in neighboring Indonesia.

"This datacenter region will expand the availability of Microsoft's hyperscale cloud services," Microsoft said in a statement. ”

It was also reported on Wednesday that eight U.S. newspaper publishers, including the New York Daily News, a subsidiary of hedge fund Alden Global Capital, sued Microsoft and OpenAI for infringement in federal court in New York.

No. 8 Apple closed down 0.60%, with a turnover of $8.524 billion. According to reports, in response to the recent feedback from some iPhone users that the alarm clock cannot go off, Apple issued an official statement confirming that there is a software bug that is the root cause of the phenomenon. The company said it was "aware of an issue that was causing some iPhone alarms to not play the expected sound" and was "urgently working on a solution."

It is also reported that Apple is planning to add artificial intelligence to its Safari browser, a move that is expected to be launched alongside the release of iOS 18. This innovation is expected to be unveiled at Apple's Worldwide Developers Conference this year, bringing users a smarter and more personalized web browsing experience.

No. 10 Google Class A shares closed 0.66% higher, with a turnover of $5.358 billion. Google reportedly laid off at least 200 people in key teams, including engineers, and moved some positions to India and Mexico. In addition, the company hired employees in Mexico and India to restructure core divisions.

No. 11 Starbucks closed down 15.88%, with a turnover of $4.922 billion. Starbucks' second-quarter 2024 earnings report showed that the company's revenue, earnings and same-store sales growth fell short of market expectations due to the reduction in customer frequency and order size. Second-quarter revenue decreased 2% year-over-year to $8.6 billion, and adjusted earnings per share decreased 8% to $0.68. Same-store sales were down 4% year-over-year and transaction volume was down 6% year-over-year, which was not fully offset by a 2% increase in average spend.

Starbucks' international business has faced challenges, particularly in China, where same-store sales have fallen sharply by 11%. Starbucks has revised its growth forecast for 2024 for the third time. The company now expects global revenue growth to be in the low single digits, well below its previous forecast range of 7% to 10%.

It is worth noting that, according to the financial report, in terms of the sinking market, Starbucks China added 118 net new stores in the second quarter, a year-on-year increase of 14%, and the total number of stores reached 7,093. Newly entered 20 cities, covering nearly 900 county-level cities.

No. 14 Civis Health closed down 16.84%, with a turnover of $3.647 billion. The company's first-quarter earnings report fell short of expectations and lowered its full-year outlook. Net income fell to $1.11 billion, or 88 cents per share, from $2.14 billion, or $1.65 per share, in the year-ago quarter. Adjusted earnings per share, excluding non-recurring items, were $1.31, below FactSet's consensus estimate of $1.69. Revenue rose 3.7% to $88.44 billion, but fell short of FactSet's consensus estimate of $89.33 billion.

For 2024, the company lowered its adjusted EPS guidance to "at least $7" from "at least $8.3".

No. 16 Pfizer closed 6.09% higher, with a turnover of $2.357 billion. Pfizer reported first-quarter revenue of $14.9 billion versus the consensus estimate of $13.91 billion, and adjusted earnings per share of $0.82 versus the consensus of $0.51. During the period, the sales of non-COVID drugs exceeded market expectations. Pfizer raised its earnings guidance, expecting 2024 adjusted earnings per share of $2.15 to $2.35, up from $2.05 to $2.25 previously, compared to analysts' expectations of $2.21.

No. 19 Johnson & Johnson closed 4.56% higher, with a turnover of $2.129 billion. Johnson & Johnson announced a restructuring plan proposed by its subsidiary, LLT Management LLC, to fully and definitively resolve all ovarian cancer-related claims in current and future talc lawsuits against the Company and its affiliates in the United States, which commits the Company to pay the claimants approximately $6.475 billion in compensation in the present value over 25 years.