--- title: "U.S. stock intraday update: Horizon Quantum down 7.75%, volume increased, sector volatility intensified" type: "News" locale: "en" url: "https://longbridge.com/en/news/293247968.md" description: "Horizon Quantum fell 7.75%; Microsoft rose 1.94%, with a trading volume of USD 7.734 billion; Oracle fell 3.30%, with a trading volume of USD 3.665 billion; Nebius rose 2.04%, with a trading volume of USD 2.595 billion; Pateo Network fell 0.99%, with a market value of USD 289.4 billion" datetime: "2026-07-20T19:37:32.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/293247968.md) - [en](https://longbridge.com/en/news/293247968.md) - [zh-HK](https://longbridge.com/zh-HK/news/293247968.md) --- # U.S. stock intraday update: Horizon Quantum down 7.75%, volume increased, sector volatility intensified **U.S. Stock Market Midday Update** Horizon Quantum fell 7.75%, with increased trading volume and no significant news recently. The trading is active, and the capital flow is evident. Considering the sector and industry trends, the stock shows significant volatility, and the specific reasons need further observation. **Stocks with High Trading Volume in the Industry** Microsoft rose 1.94%. Based on recent key news: 1. On July 20, Microsoft signed a large-scale AI infrastructure cooperation agreement with AMD, promoting AI inference operations in Azure services and enterprise customer workloads. This move further solidified Microsoft's leadership in the cloud computing field, leading to a 1.94% increase in stock price. Source: Investing.com 2. On July 20, market attention on the earnings season of tech giants intensified, with investors expecting companies like Microsoft to demonstrate substantial revenue from AI businesses. The rising risk aversion pushed Microsoft's stock price up. Source: The Wall Street Journal 3. On July 20, analysts maintained an optimistic rating for Microsoft, with Deutsche Bank keeping a "Buy" rating and a target price of $550, supporting the stock price increase. Source: Deutsche Bank. Tech stocks are experiencing increased volatility, and risk aversion is rising. Oracle fell 3.30%. Based on recent news, 1. On July 18, S&P Global downgraded Oracle's credit rating from BBB to BBB-, just one notch above junk status. The downgrade was due to Oracle's massive infrastructure spending and high exposure to OpenAI, increasing repayment risks. This move directly raised Oracle's financing costs and intensified market concerns about its credit status. 2. On July 19, Oracle faced unexpected compliance costs in the construction of its AI site in Wisconsin. A ruling by the state's electricity regulatory agency may require Oracle to bear all construction costs for its data center park's transmission lines, adding approximately $100 million in costs. 3. On July 18, Oracle's credit default swap (CDS) spread hit a record high of 198.23 basis points, reflecting increased market concerns about its debt default risk. Meanwhile, new AI models launched by Chinese startups raised concerns about the competitiveness of existing AI products, putting overall pressure on tech stocks. The overall pressure on tech stocks has led to doubts about the investment return prospects in AI. Nebius rose 2.04%. Based on recent news, 1. On July 20, Northland Securities significantly raised Nebius's target price from $248 to $410, maintaining an outperform rating. The investment bank expects the company's revenue to grow 41 times from 2025 to 2028, outpacing peers and driving the stock price up. 2. On July 18, Nebius secured a $775 million AI cloud loan, supported by GPU infrastructure and cash flows from Microsoft and Meta, while also signing a $10 billion order, both of which boosted the stock price On July 18, Nebius's $775 million financing was not only a capital raise but also a recognition of the company's infrastructure value. Combined with partnerships with Meta and Nvidia, it further strengthened the company's growth narrative, driving up the stock price. Capital expenditures in the tech industry are high, and the market is focused on AI investment returns. **Stocks ranked among the top in industry market capitalization** Palo Alto Networks fell 0.99%. Based on recent key news: 1. On July 20, investors shifted towards biotech, cybersecurity, and insurance stocks with stronger growth prospects, benefiting Palo Alto Networks from increased cybersecurity demand, leading to stock price fluctuations. 2. On July 18, Capital One Securities upgraded Palo Alto Networks to "Overweight" and raised the target price from $307 to $421, reflecting expectations for increased demand for its security platform. 3. On July 18, although Palo Alto Networks was not included in the top five stocks recommended by leading analysts, it still maintained a "Moderate Buy" rating, with the market taking a cautious stance on its future performance. 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