On Thursday, Micron Technology, the top stock by turnover, closed down 3.78%, with a turnover of $32.57 billion. Rising expenditure plans and cautious investor sentiment overshadowed an otherwise strong quarterly report. The stock had climbed close to a record high of $470 during Wednesday's session but retreated to around $441 in after-hours trading, indicating some investors were locking in profits after a significant rally. Despite Micron reporting results that beat expectations, its stock price still experienced a pullback. For the quarter ended February 26, the company reported revenue of $23.86 billion, up from $8.05 billion in the same period last year, a surge driven by robust demand for memory chips used in AI systems. Tight supply and the need for higher memory capacity in advanced computing continue to support pricing. Nevertheless, Micron raised its capital expenditure forecast for fiscal 2026 from $20 billion to $25 billion and signaled growth for 2027. The prospect of increased spending, coupled with the cyclical nature of the industry, appeared to spark concerns about profit margins, weighing on the stock price even after the positive earnings release.
Nvidia, the second highest by turnover, closed down 1.02%, with a turnover of $29.916 billion. Nvidia announced a round of updates for GeForce NOW on Thursday, featuring two main parts: new game additions and upgrades to the VR streaming experience. Newly added games include the open-world title "Crimson Desert" developed by Pearl Abyss, and the classic from Bethesda, "Fallout 3." Technically, this update increases the streaming frame rate from 60FPS to 90FPS for devices like the Apple Vision Pro, Meta Quest, and Pico, currently available only to Ultimate members. Nvidia stated that users can transform their real space into a "personal gaming theater," running PC games on a massive virtual screen with smoother visuals and more natural motion.
Tesla Motors, the third highest by turnover, closed down 3.19%, with a turnover of $25.437 billion. UBS analyst Joseph Spak predicted Tesla's first-quarter deliveries would be 345,000 vehicles, lower than his previous forecast of 360,000, a reduction of approximately 4.2%. Spak noted this expectation is below the Visible Alpha consensus of 371,000 vehicles but aligns with the buy-side institution's anticipated range of 330,000 to 350,000 vehicles. Spak maintained a Sell rating on Tesla with a price target of $352.
SanDisk, the fourth highest by turnover, closed up 2.44%, reaching a new all-time high, with a turnover of $15.507 billion. This marks the stock's fifth consecutive day of gains.
Meta Platforms, the seventh highest by turnover, closed down 1.46%, with a turnover of $7.836 billion. Meta announced on its official website that it will introduce more advanced artificial intelligence (AI) systems for content moderation, such as identifying scam information and removing illegal content. This move could potentially help reduce the company's reliance on outsourcing vendors and contract workers. In a blog post published on Thursday, March 19, Meta stated it believes AI systems can more accurately detect violations, while also preventing more scams and responding faster to real-world events, reducing errors from over-enforcement. "In the coming years, once we confirm these more advanced AI systems consistently outperform existing methods in content moderation, we will gradually deploy them across all applications, fundamentally changing our moderation approach." "Simultaneously, we will reduce our reliance on third-party vendors for content moderation, focusing instead on strengthening internal systems and personnel development." However, Meta emphasized that it will retain human moderators and not rely entirely on AI systems.
Broadcom, the tenth highest by turnover, closed up 1.24%, with a turnover of $7.28 billion. Reports indicated that Samsung plans to supply up to 800 million gigabits (Gb) of 12-layer HBM4 chips to OpenAI in the second half of this year. These HBM4 chips are intended to be paired with OpenAI's first AI processor, a custom chip developed in collaboration with Broadcom, which is expected to be manufactured by TSMC starting in the third quarter, targeting a launch before year-end.
AMD, the eleventh highest by turnover, closed up 2.91%, with a turnover of $6.418 billion. Samsung Electronics announced on Wednesday that it had signed a Memorandum of Understanding (MOU) with semiconductor giant AMD at its Pyeongtaek plant to expand strategic cooperation in next-generation AI memory and computing technologies. According to the MOU, Samsung and AMD will collaborate on the primary supply of HBM4 for the next-generation AMD AI accelerator, the AMD Instinct MI455X GPU, and on advanced DRAM solutions for the sixth-generation AMD EPYC CPU, codenamed "Venice." These technologies will support next-generation AI systems that combine AMD Instinct GPUs, AMD EPYC CPUs, and rack-scale architectures like the AMD Helios platform. Currently, Samsung and AMD are working closely to co-develop advanced memory technologies for AI and data center workloads. As memory bandwidth and energy efficiency increasingly impact system-level performance, this collaboration aims to provide customers with more optimized AI infrastructure.
Lumentum Holdings, the twelfth highest by turnover, closed up 10.18%, with a turnover of $5.527 billion. The leading player in the optical communications industry disclosed its long-term financial growth model at the OFC 2026 global optical communications conference, which includes a "$2 billion quarterly revenue run rate."
Alibaba, the seventeenth highest by turnover, closed down 7.07%, with a turnover in the billions of dollars. On March 19, Alibaba released its fiscal 2026 third-quarter financial results: revenue was 284.84 billion yuan, a 2% year-over-year increase; excluding Sun Art Retail and Intime, revenue grew 9% on a like-for-like basis. However, net profit was 15.63 billion yuan, down 66% year-over-year, Non-GAAP net profit was 16.71 billion yuan, down 67%, and adjusted EBITA decreased by 57%. Cloud business revenue grew 36% year-over-year during the same period, with AI-related revenue maintaining triple-digit growth for the tenth consecutive quarter.
Cheniere Energy, the nineteenth highest by turnover, closed up 5.88%, with a turnover of $3.47 billion. Cheniere Energy's stock jumped 5.88% on Thursday, buoyed by global liquefied natural gas supply disruptions, an expanded long-term deal with Thailand, and the company's pricing of a $1 billion dual-tranche senior notes offering. The stock was also supported by global LNG supply disruptions and a 30% surge in European natural gas prices. Thailand is negotiating to increase its long-term LNG purchases from Cheniere by 30%, from 1 million tons per year to 1.3 million tons, with the first deliveries expected this quarter. The company priced a $1 billion dual-tranche senior notes offering, maturing in 2036 and 2056 respectively, and plans to use the proceeds for general corporate purposes.
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