On Monday, Micron Technology was the top stock by trading volume, closing up 6.50% and hitting a new all-time high. Its trading volume reached $55.603 billion, with its market capitalization nearing $900 billion.
Deutsche Bank significantly raised its price target for Micron Technology from $550 to $1,000 while maintaining a "Buy" rating, representing a single increase of over 80%. Analyst Melissa Weathers, after meeting with Micron Technology's management, stated, "This meeting provided a clear view that AI is fundamentally altering the cyclical nature of the memory industry. Technically, the value of memory has never been higher—every level of the memory hierarchy is now a critical enabler for improving AI processor performance and model output. Demand for AI output is growing at a staggering pace, and the decreasing cost per inference further incentivizes application expansion from the core to the edge."
The second most traded stock was NVIDIA, closing up 1.97% with a trading volume of $34.451 billion. NVIDIA is set to release its Q1 2026 earnings report next week. Analysts widely expect strong demand for its Blackwell architecture GPUs to drive results above expectations. Wedbush anticipates the wave of AI infrastructure spending will continue and suggests tech stocks could remain strong through 2026.
Tesla Motors ranked third, closing up 3.91% with a trading volume of $33.827 billion. Tesla Motors announced via social media that the final Model S and Model X have rolled off the production line at its Fremont factory in the United States, marking the official discontinuation of these models.
In its announcement, Tesla Motors stated, "14 years of Model S, 11 years of Model X—they witnessed the journey of pure electric mobility from a niche choice to an everyday option for a growing number of people."
The discontinuation of these vehicles was not sudden. As early as January 29, 2026, CEO Elon Musk first announced during the Q4 2025 earnings call that the Model S and Model X would be officially discontinued by the end of Q2 2026.
Intel ranked fifth, closing up 3.62% with a trading volume of $22.856 billion. Following Apple, Intel's foundry business has achieved another significant breakthrough. Market reports indicate that Intel has secured a second major chip client, fueling its continued stock price rise on Monday.
Sources suggest the client is likely AI chip giant NVIDIA. Rumors of collaboration between the two have persisted for months, with substantial progress reported recently. Intel CEO Pat Gelsinger publicly hinted last week that they are co-developing "exciting new products" with NVIDIA, which the market interprets as a clear signal of a deepening partnership.
Alphabet Class A shares ranked eighth, closing down 3.03% with a trading volume of $11.971 billion. Parent company Alphabet disclosed in a regulatory filing on Monday its plan to issue yen-denominated bonds for the first time, as major tech giants tap the bond market to fund AI infrastructure development.
Alphabet did not disclose the size of the offering. A source familiar with the matter indicated the issuance is expected to reach several hundred billion yen, with terms likely finalized this month.
Alphabet has appointed Mizuho Bank, Bank of America, and Morgan Stanley to lead the bond offering. Leading global tech firms are turning to the bond market to finance their costly AI development plans, shifting away from Silicon Valley's traditional reliance on internal cash for investments.
Qualcomm ranked tenth, closing up 8.42% with a trading volume of $10.764 billion. Chip foundry GlobalFoundries recently stated that driven by surging demand for AI inference and agent applications, the server CPU market is entering a structural growth "supercycle," with Advanced Micro Devices, Intel, and Qualcomm poised to be primary beneficiaries.
Lumentum ranked twelfth, closing up 16.52% with a trading volume of $9.608 billion. The company is set to join the Nasdaq-100 Index on May 18, 2026, replacing commercial real estate data analytics firm CoStar Group. Lumentum was added to the S&P 500 Index on March 23, 2026, meaning the stock has entered two major U.S. benchmark indices within just two months. As of Monday's close, Lumentum's stock has surged over 1000% year-to-date in 2026, with its total market capitalization exceeding $80 billion.
Rocket Lab USA, Inc. ranked seventeenth, closing up 11.26% with a trading volume of $6.171 billion. Space-related stocks generally advanced on Monday.
Circle Internet Corp. ranked nineteenth, closing up 15.91% with a trading volume of $5.54 billion. The group raised $222 million in a presale for its new Arc blockchain-linked token, with the network's fully diluted valuation reaching $3 billion.
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