On Thursday, it was the No. 1 stock by trading volume on the U.S. stock market.$Alphabet-A (GOOGL.US)$It closed down 12.64%, with trading volume reaching $39.427 billion.
Google plunged 12%, marking its largest single-day drop since its 2004 IPO. Its market capitalization evaporated by nearly $500 billion in a single day, the second-largest one-day market-cap loss in U.S. stock market history, surpassed only by NVIDIA's record in January 2025.
According to the Zhaofeng Trading Desk, JPMorgan has lowered Alphabet's price target from $425 to $375. Goldman Sachs has also cut its 12-month price target, reducing it from $435 to $385—a decline of about 11.5%—while maintaining its buy rating. Based on Goldman Sachs' closing price of $324.89 on October 28, the new target implies roughly 18.5% upside.
The financial report shows that Alphabet's third-quarter revenue from search and other businesses was $63.35 billion, below Goldman Sachs' forecast of $64.2 billion and the market consensus estimate of $64.895 billion. Meanwhile, the company kept its 2026 capital expenditure guidance unchanged at $195 billion to $205 billion and signaled a further substantial increase in capital spending in 2027, putting pressure on its free cash flow outlook and making it one of the key concerns for investors.
3rd place$Microsoft (MSFT.US)$It closed down 0.16%, with trading volume at $20.71 billion.
According to Bloomberg, citing sources familiar with the matter on the 29th, Microsoft plans to raise at least $25 billion through this bond offering, which will feature up to 10 different maturity tranches ranging from 2 to 40 years. This marks Microsoft's first issuance of high-grade bonds in the U.S. since 2017, when the company raised $17 billion across seven tranches. Sources indicated that the final size of the offering has yet to be determined and will be adjusted based on market demand.
The ten‑year tranche has a maximum maturity of 40 years and is issued with an AAA credit rating.
According to insiders, Microsoft plans to issue bonds in up to 10 tranches, with maturities ranging from two to 40 years. The longest‑maturity bond is a note due in 2066, with an initial pricing guidance of up to 135 basis points above U.S. Treasuries.
4th place$Micron Technology (MU.US)$It closed down 4.98%, with trading volume at $20.51 billion.
5th place$Amazon (AMZN.US)$It closed down 4.25%, with trading volume reaching $19.609 billion.
Amazon reported Q3 2026 revenue of $201.9 billion, up 12% year over year; diluted EPS was $1.89, and its Q4 guidance fell short of expectations, while Q3 capital expenditures exceeded expectations.
6th place$Meta Platforms (META.US)$It closed up 1.96%, with trading volume reaching $19.47 billion.
7th place$NVIDIA (NVDA.US)$It closed down 0.80%, with trading volume at $16.174 billion.
According to two sources familiar with the matter, the U.S. Department of Justice (DOJ) has launched an investigation into…$NVIDIA (NVDA.US)$An inquiry has been launched into the $12.93 billion acquisition of the open-source platform Hugging Face, to assess how the deal will affect competition in the artificial intelligence sector; meanwhile, antitrust enforcers are continuing their years-long investigation into the chip design company's conduct.
According to the two informed sources, the Justice Department's recent inquiries have covered NVIDIA's acquisitions, investments, and sales activities, as well as whether the chip design company has ever exerted pressure on its customers. Regarding Hugging Face, Justice Department officials have asked whether this deal would give NVIDIA control over a fundamental distribution node for artificial intelligence. NVIDIA previously stated that the acquisition is expected to close in the first half of 2027, adding that Hugging Face will continue to support collaborations with various chip, cloud, and AI providers.
8th place$Apple (AAPL.US)$It closed up 1.48%, with trading volume at $14.464 billion.
Apple on Tuesday unveiled the latest 14-inch MacBook Pro and the all-new iMac. Yorkville analyst Dan Ives offered a positive assessment, maintaining an "outperform" rating on the stock with a price target of $400.
In addition, Apple hit a new closing high.
9th place$SanDisk (SNDK.US)$It closed down 5.32%, with trading volume at $10.691 billion.
10th place$Intel (INTC.US)$It closed down 3.62%, with trading volume at $10.303 billion.
11th place$SpaceX (SPCX.US)$It closed down 0.92%, with trading volume at $9.52 billion.
Sources familiar with the matter say Anthropic is SpaceX's largest single customer, accounting for more than one-third of the company's revenue in the third quarter of 2026. According to filings submitted by SpaceX last week, approximately 34.5% of its revenue in the most recent quarter came from a client that purchases computing power for its AI division; sources confirmed that this client is Anthropic. Previously, Anthropic entered into a computing‑power contract with SpaceX, with total expenditures potentially reaching as high as $120.5 billion and a term extending through 2029. Monthly spending is expected to average about $3.1 billion starting in December 2026. However, Anthropic may terminate the agreement by providing 90 days' notice, effective either in January 2027 or after March 2027. The report notes that SpaceX's reliance on Anthropic underscores the concentration risk inherent in its AI‑computing‑power business, while the broader AI‑computing‑power leasing sector faces mounting pressure from tighter financing conditions. In the third quarter, another major customer was a government agency, contributing 16.6% of SpaceX's revenue; previously, the U.S. federal government had been its largest single customer.
14th place$Marvell Technology (MRVL.US)$It closed down 13.24%, with trading volume reaching $9.112 billion.
Chipmaker Marvell Technology (MRVL.US) is reportedly in advanced talks to acquire optical communications firm Lumentum (LITE.US), with the deal potentially announced as early as next week. Wall Street analysts generally believe the potential acquisition could bolster Marvell Technology's competitiveness in the AI‑driven optical communications space; however, Lumentum's market capitalization of roughly $83 billion, along with the possible equity dilution, margin pressures, and business integration risks associated with the transaction, have also raised concerns among investors.
16th place$ServiceNow (NOW.US)$It closed down 26.95%, with trading volume reaching $8.495 billion.
Zhitong Finance learned that on Thursday, shares of enterprise software giant ServiceNow (NOW.US) plunged 27%, primarily because the company's guidance for several key fourth-quarter metrics fell short of market expectations, reigniting investor concerns that artificial intelligence (AI) could disrupt the traditional software industry. However, analysts at Bank of America and JPMorgan remain optimistic about the company's long-term prospects, noting that its AI business continues to enjoy strong growth momentum and that short-term earnings volatility has not altered its underlying fundamentals.
18th place$Eli Lilly and Co (LLY.US)$It closed up 6.63%, with trading volume reaching $5.996 billion.
Eli Lilly and Co. reported third-quarter revenue of $24.4 billion, up 39% year over year, with adjusted earnings per share of $7.48—both well above expectations. Mounjaro and Zepbound together accounted for 66% of revenue, with Mounjaro contributing $10.72 billion, a 65% increase. The company raised its full-year revenue guidance for the third time this year, to between $91.0 billion and $92.0 billion. Boosted by these results, Eli Lilly's stock reached an all-time high.
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Editor/stephen