On Thursday, Google-A ($GOOGL.US) ranked first in U.S. stock trading volume, closing down 12.64% with a trading volume of $39.427 billion.
Google tumbles 12%, recording its largest single-day decline since its listing in 2004. Its market value evaporated by nearly $500 billion in a single day, making it the second-largest single-day market value loss in U.S. stock history, only behind NVIDIA's record in January 2025.
According to Zuifeng Trading Desk, JPMorgan Chase has lowered the target price for Alphabet from $425 to $375. Goldman Sachs has also reduced its 12-month target price from $435 to $385, a decrease of about 11.5%, but has maintained its buy rating unchanged. Based on Goldman Sachs' closing price of $324.89 on October 28, the new target price represents approximately 18.5% upside potential.
Financial reports show that Alphabet's revenue from search and other services in the third quarter was 63.35 billion US dollars, lower than Goldman Sachs' forecast of 64.2 billion US dollars and the market's consensus forecast of 64.895 billion US dollars. At the same time, the company has maintained its guidance for capital expenditures in 2026 to range from 195 billion to 205 billion US dollars and has indicated that capital expenditures are expected to increase significantly in 2027, putting pressure on its free cash flow prospects, which has become one of the key concerns for investors.
3rd place: Microsoft ($MSFT.US)$ fell 0.16%, with trading volume of $20.71 billion.
According to people familiar with the matter as reported by Bloomberg on the 29th, Microsoft plans to raise at least $25 billion through this bond issuance, which will consist of bonds with maturities ranging from 2 to 40 years. This is Microsoft's first time issuing high-rated bonds in the United States since 2017, when the company raised a total of $17 billion through 7 different maturities. The sources revealed that the final issuance size has not yet been determined and will be adjusted according to market demand.
Ten tranches with a maximum term of up to 40 years, AAA rated and endorsed issuance
According to people familiar with the matter, Microsoft plans to issue bonds in up to 10 different tranches this time, with maturities ranging from two years to 40 years. The longest-term bond will mature in 2066, and the initial pricing guidance is a premium of up to 135 basis points over U.S. Treasury bonds.
4th place: Micron Technology ($MU.US)$ fell 4.98%, with trading volume of $20.51 billion.
5th place: Amazon ($AMZN.US)$ fell 4.25%, with transactions amounting to 19.609 billion US dollars.
Amazon's revenue in 2026 reached $201.9 billion, a year-on-year increase of 12%; after dilution, the EPS1.89 per share was lower than expected, while Q3 capital expenditures exceeded expectations.
6th place: $ Meta Platforms ( META.US )$ rose by 1.96%, with transactions amounting to 19.47 billion US dollars.
7th place: $NVIDIA ($NVDA.US)$ fell 0.80%, with trading volume of 16.174 billion US dollars.
According to two people familiar with the matter, the U.S. Department of Justice ( DOJ ) has initiated inquiries regarding the deal in which $ NVIDIA ( NVDA.US ) acquired the open-source platform Hugging Face for $12.93 billion, to understand how this transaction will affect competition in the field of artificial intelligence; at the same time, antitrust regulators are still advancing a multi-year investigation into the practices of this chip design company.
Two sources familiar with the matter said that recent inquiries by the Department of Justice covered NVIDIA's acquisition, investment, and sales activities, as well as whether the chip design company had exerted pressure on its customers. Regarding Hugging Face, Department of Justice officials asked whether this transaction would give NVIDIA control over a fundamental distribution node in artificial intelligence. NVIDIA previously stated that the acquisition is expected to be completed in the first half of 2027 and added that Hugging Face will continue to support cooperation with various chip, cloud, and AI suppliers.
8th place: Apple ($AAPL.US) rose 1.48%, with transactions amounting to 14.464 billion US dollars.
Apple released its latest 14-inch MacBook Pro and the brand-new iMac on Tuesday. Analyst Dan Ives gave positive reviews of these products and maintained a "outperforming the market" rating for the stock, along with a target price of $400.
In addition, Apple set another new closing high.
9th place: $SanDisk ( SNDK.US )$ fell 5.32%, with trading volume of 10.691 billion US dollars.
10th place: Intel ($INTC.US)$ fell 3.62%, with trading volume of $10.303 billion.
11th place: $ SpaceX ( SPCX.US )$ fell 0.92%, with trading volume of 9.52 billion US dollars.
Informed sources state that Anthropic is SpaceX's ( SPCX.O ) largest single customer, contributing more than one-third of the company's revenue in the third quarter of 2026. Documents submitted by SpaceX last week showed that approximately 34.5% of the revenue in the previous quarter came from a customer that purchased computing power for its AI department, and informed sources confirmed that this customer is Anthropic. Anthropic previously signed a computing power contract with SpaceX, with total contract expenditures reaching up to $120.5 billion, valid until 2029, and it is estimated that the average monthly expenditure will be around $3.1 billion starting from December 2026. However, Anthropic may cancel the relevant contract with 90 days' notice after January and March 2027, respectively. The report points out that SpaceX's reliance on Anthropic's revenue highlights the risk of customer concentration in its AI computing power business; at the same time, the AI computing power leasing industry is facing increased financing pressures. Another major customer in the third quarter was a related government agency, which contributed 16.6% of the revenue, while the U.S. federal government has always been its largest single customer.
14th place: $Maiwell Technology ( MRVL.US )$ fell 13.24%, with trading volume of 9.112 billion US dollars.
Chip manufacturer Marvell Technology ( MRVL.US ) is reportedly in advanced negotiations to acquire optical communications technology company Lumentum ( LITE.US ), with the deal potentially being announced next week. Wall Street analysts generally believe that the potential acquisition could strengthen Marvell's competitiveness in the field of artificial intelligence ( AI ) and optical communications. However, Lumentum's market value of around $83 billion, as well as the potential for dilution of equity, pressure on profit margins, and risks associated with business integration, have also raised concerns among the market.
16th place: $ ServiceNow ( NOW.US )$ fell 26.95%, with trading volume of 8.495 billion US dollars.
Zhitong Finance APP has learned that on Thursday, the stock price of enterprise software giant ServiceNow ( NOW.US ) plummeted by 27%. The main reason was that the company's fourth-quarter key business indicators fell short of market expectations, once again triggering investors' concerns about how artificial intelligence ( AI ) might impact the traditional software industry. However, analysts from Bank of America and JPMorgan Chase remain optimistic about the company's long-term prospects, believing that its AI business growth momentum is still strong, and that short-term performance fluctuations do not change the fundamentals.
18th place: Eli Lilly ($LLY.US) rose 6.63%, with trading volume of $5.996 billion.
Eli Lilly reported third-quarter revenue of $24.4 billion, a year-over-year increase of 39%, and an adjusted earnings per share of $7.48, both far exceeding expectations. Mounjaro and Zepbound contributed 66% of the total revenue, with Mounjaro generating $10.72 billion in revenue, a 65% increase. The company raised its full-year revenue forecast for the third time this year to between $91 billion and $92 billion. Driven by these results, Eli Lilly's stock price reached a record high.
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