U.S. Stock Market Midday Update

Applied Digital fell 11.38%. Based on recent key news:

1. On July 28, Applied Digital announced its fourth-quarter financial report, showing a year-on-year revenue increase of 407% to $258.7 million, exceeding market expectations, with adjusted earnings per share of $0.04, reversing last year's loss during the same period. Despite the strong financial performance, the stock price dropped 3% during regular trading hours, closing at $26.38. Source: Reuters

2. On July 29, analyst Darren Aftahi reiterated a buy rating on Applied Digital, setting a target price of $83. However, Morgan Stanley assigned a hold rating to the company on July 24, indicating ongoing market concerns about its financial condition. Source: Lucid Capital

3. On July 28, technical indicators showed that Applied Digital's 20-day moving average was below its 50-day moving average, indicating significant short-term price pressure, and the MACD indicator also showed weakening momentum, leading to a substantial price drop of 9.92% to $23.99 on that day. Source: Benzinga ProAI data center demand remains strong, and the industry outlook is optimistic.

Stocks with High Trading Volume in the Industry

Snowflake rose 6.89%, with increased trading volume. Based on recent key news:

1. On July 28, Snowflake announced the launch of Cortex AI Gateway and several AI security innovations aimed at helping enterprises securely scale their agent ecosystems. These new initiatives address security and cost control issues faced by enterprises during large-scale AI agent deployments, enhancing market confidence in Snowflake's technological capabilities and driving the stock price up.

2. On July 29, BNP Paribas analyst Stefan Slowinski pointed out that although Databricks' rapid growth in Snowflake's core SQL market puts pressure on its valuation, Snowflake remains attractive due to its lower valuation and strong cash generation capabilities. This analysis boosted investor confidence, further driving the stock price up.

3. On July 28, Benzinga Edge's stock rankings showed that Snowflake has strong price trends in the short, medium, and long term, with its momentum ranking in the 93rd percentile. This indicates a positive market outlook for Snowflake's performance, contributing to the stock price increase. AI security innovations have boosted market confidence.

Coreweave fell 7.18%, with active trading. Based on recent key news:

1. On July 28, Flow Traders selected CoreWeave as its AI cloud service provider, promoting the training of AI and deep learning models This collaboration provides CoreWeave with dedicated computing power to support its AI-driven quantitative trading strategies, enhancing market confidence in its technological capabilities.

2. On July 28, CoreWeave announced that it will hold a conference call for its Q2 2026 financial report on August 11. The market has shown interest in the upcoming financial report, which may affect investor expectations and stock price fluctuations.

3. On July 30, CoreWeave improved the terms of its $2.6 billion loan to address debt concerns. This move aims to provide additional computing power support for the company, enhancing market confidence in its financial stability. The demand for AI cloud services is growing, and industry competition is fierce.

Shopify rose 0.73%, with increased trading volume. Based on recent key news:

1. On July 27, Shopify surged 8.11% during the trading session, with positive market sentiment. Although Hilltop Holdings reduced its stake by 62.2%, both Norges Bank and Sands Capital increased their holdings, while Citigroup and Bank of America set a target price of $150, leading to mixed analyst ratings. Source: Zhitong Finance

2. On July 27, Shopify projected that operating expenses would rise to a mid-to-high double-digit percentage, exacerbating market concerns about its profitability. High inflation and interest rate pressures are affecting GMV growth for its core merchants. Source: Wall Street Insights

3. On July 28, Shopify partnered with DoorDash to allow U.S. brick-and-mortar merchants to add their product catalogs to the DoorDash marketplace, streamlining the process and increasing merchant exposure. Source: Jinshi Data AI expands into the e-commerce sector, intensifying industry competition.

Stocks ranked among the top in industry market capitalization

CloudFlare rose 4.08%. Based on recent key news:

1. On July 27, Cloudflare announced the launch of a new classification mechanism and business collaboration to enhance content exposure and monetization capabilities. This move is expected to attract more customers and increase revenue, driving up the stock price.

2. On July 27, Bank of America raised its target price for Cloudflare to $330, maintaining a "Buy" rating. Analysts believe that its cybersecurity and AI business is growing strongly, supporting a higher valuation level and boosting market confidence.

3. On July 24, Bank of America Securities analysts reiterated their "Buy" rating on Cloudflare and set a target price of $330. Analysts are optimistic about its technology and market prospects, further driving up the stock price. Valuations in the cybersecurity sector are rising, and AI applications are accelerating in popularity