On Tuesday, the second-ranked stock by trading volume in the US market was Micron Technology (NASDAQ: MU), which closed up 0.87% with a trading volume of $25.155 billion. On August 11, at KeyBanc Capital Markets' Annual Technology Leadership Forum, Sumit Sadana, Executive Vice President and Chief Commercial Officer of Micron Technology, stated that due to the ongoing AI boom driving demand and the industry's inability to expand production capacity quickly enough, the tight supply situation in the memory chip market is expected to persist beyond 2027. Sadana revealed that since Micron's latest earnings report, customer demand signals have strengthened further, and the company expects the supply-demand balance for the 2027 calendar year to be "tighter than 2026," with no clear timeline for when industry supply will match demand. Sadana pointed out that for customers, the "primary constraint" is DRAM itself, rather than electricity supply, real estate, data center capacity, or logic wafers. He attributed the supply-demand imbalance partly to the difficulty and long lead times involved in building and ramping up advanced memory chip manufacturing plants.
The third-ranked stock, NVIDIA (NASDAQ: NVDA), closed down 0.02% with a trading volume of $21.992 billion. NVIDIA is developing a new series of AI models called Nemotron-4, aiming to create products that can compete with the world's top open-source models. According to insiders, NVIDIA is one of the few major US tech companies to launch open-source models. As the number of AI-related bills has surged this year, and the capabilities of low-cost Chinese AI models increasingly approach the top systems from US AI leaders like Anthropic and OpenAI, open-source models are drawing more attention.
The sixth-ranked stock, Intel (NASDAQ: INTC), closed up 0.19% with a trading volume of $15.92 billion. Intel CEO Pat Gelsinger sought US government approval before the company's stock offering. As Intel prepared to announce its stock issuance plan last week, Gelsinger called US Commerce Secretary Howard Lutnick. The US government ultimately decided not to participate in the stock offering, but Lutnick approved the plan.
The seventh-ranked stock, SpaceX, closed down 3.93% with a trading volume of $14.499 billion. Morgan Stanley, regarding SpaceX's proposed $60 billion acquisition of AI code platform Cursor, maintained a target price of $300, with a bull case valuation of $600. Over 64% of Fortune 500 companies and 50,000 businesses are using Cursor. Morgan Stanley estimates Cursor's annual recurring revenue will reach $8 billion by the end of the year and approximately $33 billion by 2030. Key catalysts include third-quarter disclosures, upcoming releases of Grok 4.6/4.7, Grok 5, potential Composer 3, and updated annual recurring revenue data.
The ninth-ranked stock, Microsoft (NASDAQ: MSFT), closed down 0.44% with a trading volume of $11.556 billion. According to tech media outlet Windows Central, before Microsoft's 2013 acquisition of Nokia, rumors suggested Microsoft was independently developing a Windows Phone device. These rumors indicated the phone was planned to be branded as "Surface" and launched alongside the Surface Pro tablet line in 2014. Unfortunately, the phone never saw the light of day. Photos of a Surface Phone prototype have recently surfaced online, with the device possibly codenamed "Raven," developed around 2013-2014. It features a silver metal frame, a Microsoft logo on the back, an unknown Qualcomm processor, and a 720P screen.
The tenth-ranked stock, Apple (NASDAQ: AAPL), closed down 1.09% with a trading volume of $11.154 billion. Jennifer Bailey, Apple's long-time head of payments and wallet services, will retire after more than 20 years at the company, becoming the latest in a series of leadership changes at the iPhone maker. According to an internal memo, Eddy Cue, Apple's head of services, announced Bailey's departure. He stated that Bailey, who has served as Vice President of the Apple Pay business since its launch in 2014, will step down in October.
The eleventh-ranked stock, Alphabet (NASDAQ: GOOG), closed down 3.84% with a trading volume of $10.005 billion. Alphabet CEO Sundar Pichai posted on social media platform X, stating that over 1 billion people now use Gemini monthly. He said, "This is our fastest-growing product ever and the 14th product from us to reach 1 billion users." (Screenshot from Sina Finance APP's Stock Market section - US Stocks - Stock Market sector, swipe left for more data) Download the Sina Finance APP.
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