Tuesday's most actively traded US stock by volume was Micron Technology (MU), closing up 0.79% with a turnover of $46.422 billion. The stock has gained over 300% in the first half of this year.
Reports indicate that Micron has announced a $250 million commitment to participate in a savings account program, a funding initiative separate from its previously disclosed plans to invest over $200 billion in US-based memory manufacturing and R&D.
The program's specific arrangements include matching employee contributions of up to $1,000 per child under 18, and providing a one-time $250 deposit for eligible children who open an account in the seven states where Micron operates, potentially benefiting up to one million children.
The second most traded stock was NVIDIA (NVDA), closing up 2.63% with a turnover of $32.339 billion. Semiconductor research firm SemiAnalysis recently forecast that NVIDIA's data center compute revenue for the second half of fiscal 2027 could exceed Wall Street consensus estimates by about 20%, primarily benefiting from the mass production ramp-up of its next-generation Rubin platform.
SemiAnalysis noted that previous supply bottlenecks for HBM4 memory, which constrained Rubin platform shipments, have largely been resolved, and front-end wafer capacity has been secured, clearing the path for a strong second-half performance. The Rubin platform is a rack-scale system designed by NVIDIA for agentic AI workloads, offering a 10x increase in agent data throughput compared to the previous Grace Blackwell platform. It entered full production in early June, with shipments expected to begin in the fall.
Unlike the relatively conservative prediction logic of most Wall Street firms, SemiAnalysis's conclusion is based on comprehensive industry-wide research covering material suppliers, wafer manufacturers, server OEMs, and cloud service providers.
The third most traded stock was SanDisk Corp. (SNDK), closing up 10.89% with a turnover of $24.81 billion. In the first half of this year, SanDisk's stock price surged over 850%. Some analysis suggests the stock's rise is not driven by AI demand but rather by a fundamental, unsolvable shortage of NAND flash memory in the industry.
Analysts state that the market widely attributes SanDisk's significant price surge in the first half of 2026 to a surge in enterprise SSD demand driven by AI data centers. However, the essence of this market movement is a structural trend driven by supply-side contraction in the NAND flash memory industry, not demand pull.
Analysts point out that the current price increase for NAND flash is driven by industry-led supply discipline, not overheated demand. This structural capacity gap will require several years to fill through the construction of new wafer fabs. SanDisk's core advantage lies in its ability to maintain stable supply while leading peers are simultaneously reducing production. The current stock price already reflects expectations of sustained high profit margins.
The fourth most traded stock was Advanced Micro Devices (AMD), closing up 7.68% with a turnover of $19.568 billion. The stock has risen over 170% in the first half of this year.
On Tuesday, Wells Fargo significantly raised its price target for the chipmaker from $505 to $615, maintaining an "Overweight" rating. The new target implies an upside of about 14% from Monday's closing price.
Wells Fargo analysts noted in a report that AMD is entering a new growth phase in server CPUs, with server CPU revenue expected to reach $16 billion in 2026, a 68% increase from previous levels. The analyst also forecasts that AMD's data center GPU revenue could reach $63 billion by 2028 and believes AMD will achieve annual earnings per share exceeding $20 earlier than previously expected.
Additionally, UBS recently raised its AMD price target from $455 to $670, maintaining a "Buy" rating. AMD's current price is around $519.85, following a cumulative gain of approximately 275%.
The core basis for this upgrade is the recovery in server CPU demand. UBS concurrently adjusted its corresponding revenue forecasts: server CPU revenue expectations for 2026 to 2028 were raised to $16 billion, $23 billion, and $29 billion respectively, while the 2030 revenue forecast was increased from $41 billion to $50 billion.
AMD's valuation is no longer at a low level, leaving less room for error if performance falls short of expectations. Stock price fluctuations are now more susceptible to market sentiment. Previously, AMD's pre-market trading had dropped as much as 5.77%, dragged down by Micron's earnings report. If industry enthusiasm cools, the impact of valuation contraction could manifest before changes in fundamentals.
The fifth most traded stock was Apple (AAPL), closing up 2.70% with a turnover of $18.569 billion. The UK's Competition and Markets Authority (CMA) has launched a public consultation, proposing to allow app developers to steer users to payment channels outside of the Apple and Google app stores to reduce fees and promote market competition.
The CMA stated that Apple currently completely prohibits developers in the UK from steering users away from its payment system, while Google previously also had certain controls in place. The proposed measures would remove these barriers, allowing developers to communicate directly with users about external payment methods.
The Executive Director of the CMA's Digital Markets unit stated that giving app developers and users more choice in communication and transaction methods is important. This not only brings freedom of choice but is also the best way to introduce competition into key areas of the mobile ecosystem where competitive pressure is severely lacking.
The eighth most traded stock was Intel (INTC), closing up 6.01% with a turnover of $15.955 billion. The stock has gained nearly 280% in the first half of this year. Renewed optimism about artificial intelligence infrastructure spending, combined with overall strength in the semiconductor sector, jointly drove the stock significantly higher.
Intel has been a major beneficiary of this market trend. The company's stock price has risen approximately 257% year-to-date, standing out among semiconductor index components. The core logic driving the rally is the evolution of AI workloads from the training phase to the inference phase, with the importance of CPUs continuing to rebound. Analysts note that the GPU-to-CPU ratio in training tasks is about 8:1, dropping to 3-4:1 in the inference phase, and potentially approaching 1:1 or higher in agentic AI scenarios.
Goldman Sachs recently initiated coverage on Intel with a Neutral rating and a $150 price target. The report noted that Intel will benefit from rising server CPU demand, and as a US-based foundry, its advanced packaging business is expected to make near-term progress. The company's Data Center and AI group revenue for Q1 2026 was approximately $5.1 billion, up over 20% year-over-year. The company provided Q2 revenue guidance of $13.8 billion to $14.8 billion, with data center revenue expected to achieve double-digit sequential growth.
The tenth most traded stock was SpaceX (SPXC), closing up 4.06% with a turnover of $13.584 billion. SpaceX's stock continued its gains on Tuesday as investors actively adjusted positions ahead of the aerospace giant's major event: inclusion in the Nasdaq-100 index on July 7.
The index operator has confirmed that SpaceX will officially join the index before the market opens on July 7. This rapid inclusion is facilitated by Nasdaq's relaxed admission rules this year, which allow large new listings to be included after just 15 trading days. SpaceX completed its record-breaking $86 billion IPO on June 12, with trading time now just over three weeks.
The direct effect of index inclusion is large-scale passive buying. JPMorgan estimates that SpaceX's addition to the Nasdaq-100 could attract approximately $4.3 billion in passive fund inflows. Previously, SpaceX was included in the Russell 1000 index on June 27, which reportedly drove over $4 billion in passive buying.
The thirteenth most traded stock was Marvell Technology (MRVL), closing up 7.25% with a turnover of $10.545 billion. The stock has gained over 250% in the first half of this year. A top-rated UBS analyst's positive outlook on significant growth in the CXL field contributed to the stock's rise.
The eighteenth most traded stock was Taiwan Semiconductor Manufacturing (TSM), closing up 4.30% with a turnover of $6.958 billion. Reports indicate that the company is accelerating the development of its next-generation AI chip packaging technology, CoPoS. This technology switches the production carrier from 12-inch round wafers to 310mm×310mm square panels, with mass production not expected to begin before 2029. TSMC has already established its first pilot line at the Longtan facility of Chi Mei EL Corp., and a second pilot line will be located at the AP7 facility in Chiayi. The company has also signed strict non-disclosure agreements with all relevant suppliers.
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