On Tuesday, the top US stock by trading volume was Meta Platforms, which closed down 1.64% with $31.948 billion in turnover. Meta Platforms' expanded $25 billion common stock offering drew enthusiastic investor demand, with subscription demand reaching roughly five times the number of shares available. The stock sale is part of Meta's broader $98 billion equity financing plan, with proceeds intended for artificial intelligence (AI) infrastructure buildout and personal superintelligence technology research. According to people familiar with the matter, more than half of the shares in the common stock offering were allocated to long-term holders and existing Meta shareholders, indicating institutional investors remain highly interested in the company's AI development strategy. At the same time, investors who received the largest 15 allocations in the offering collectively subscribed to about 70% of the shares, showing the financing secured concentrated support from large institutional investors.
The fourth-ranked stock was Micron, which rose 2.77% with $21.161 billion in turnover. RBC Capital Markets recently issued a research report stating that as AI demand continues to outpace supply, rising high-bandwidth memory (HBM) prices are expected to support overall DRAM average selling prices (ASP). The DRAM upcycle, already lasting 14 quarters, is expected to continue for another five quarters, with supply tightness projected to persist until 2027. HBM prices could rise 80% to 100% in 2027. In addition, Musk expressed firm optimism about memory demand, saying robots will require more memory than any other field.
The fifth-ranked stock was Nvidia, which rose 0.90% with $18.399 billion in turnover. Nvidia and Oracle announced plans to expand Oracle Cloud Infrastructure's (OCI) superclusters to multi-gigawatt scale based on NVIDIA Vera Rubin NVL72 systems, to meet growing demand for AI training, inference, and agentic applications. Meanwhile, NVIDIA Vera Rubin NVL72 systems and NVIDIA Vera CPU are now fully available on OCI.
The sixth-ranked stock was Tesla, which rose 4.04% with $18.263 billion in turnover. Barclays upgraded Tesla to "Overweight" and raised its price target from $370 to $450, with the core rationale being the strategic premium from a potential merger between Tesla and SpaceX. Barclays believes the two sides could announce a deal before Tesla's annual shareholder meeting on December 3.
The seventh-ranked stock was SpaceX, which rose 1.14% with $14.279 billion in turnover. The eighth-ranked stock was Apple, which rose 0.93% with $13.837 billion in turnover. Apple released a 14-inch MacBook Pro and iMac equipped with the M6 chip, with starting prices of 15,999 yuan and 12,499 yuan respectively. Pre-orders will begin at 1:10 a.m. on October 29, with official sales starting on November 6.
The ninth-ranked stock was Advanced Micro Devices, which rose 5.45% with $11.404 billion in turnover. AMD announced on October 27 local time that the AMD Helios rack-scale solution has been deployed at Meta; AMD EPYC processors provide computing power for Meta's Muse AI agent; in addition, AMD technology provides "Day-0" synchronized support for Meta models including Muse Spark Open and Muse Glimmer. AMD also announced it will invest $1 billion in Meta's stock offering.
The tenth-ranked stock was Microsoft, which fell 0.24% with $10.366 billion in turnover. The eleventh-ranked stock was Google Class A shares, which rose 1.19% with $9.141 billion in turnover. Google DeepMind released Genie 4 on its official website Tuesday, allowing users to create explorable virtual worlds through text prompts and navigate them using a keyboard. Users can also input instructions as scenes unfold to change weather or add characters in real time. Google said simulated environments can run for up to two minutes, roughly twice as long as the previous generation Genie 3.
The thirteenth-ranked stock was SanDisk, which rose 3.92% with $9.027 billion in turnover. The fourteenth-ranked stock was Broadcom, which rose 4.00% with $8.718 billion in turnover. Bank of America, Blackstone, Citi, and Morgan Stanley jointly announced they will provide a total of $63 billion in financing through a newly established special purpose vehicle (SPV) to purchase Broadcom AI chips and networking equipment and lease them to AI large-model developer Anthropic. Chip deliveries are expected to begin in 2027.
The fifteenth-ranked stock was Amazon, which rose 1.61% with $8.696 billion in turnover. The sixteenth-ranked stock was Intel, which rose 3.61% with $8.4 billion in turnover. The seventeenth-ranked stock was Boeing, which plunged 10.69% with $8.096 billion in turnover. Boeing's third-quarter loss exceeded expectations. Supply chain challenges and production delays in the commercial airplanes division offset the positive impact of improved margins in other business segments. Boeing CEO Kelly Ortberg said the goal of reaching a monthly production rate of 47 aircraft for the 737 model will not be achieved until next year. Boeing's third-quarter adjusted loss per share was 34 cents, wider than the analyst average estimate of a 21-cent loss per share. Revenue rose 4% year over year to $24.19 billion, above analysts' expectation of $23.84 billion.
The eighteenth-ranked stock was Seagate, which rose 3.67% with $5.908 billion in turnover. Seagate Technology reported its fiscal 2027 first-quarter results. Data showed quarterly revenue reached $4.233 billion, up 61% year over year; GAAP net income was $1.761 billion, up about 221% from $549 million a year earlier; GAAP diluted earnings per share were $7.59, compared with $2.43 a year earlier, up about 212% year over year. The nineteenth-ranked stock was Google, which rose 0.84% with $5.612 billion in turnover.
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