--- title: "Top 20 US stock trading volumes on February 27: NVIDIA fell over 5%, investors are concerned about the sustainability of AI spending" type: "News" locale: "zh-HK" url: "https://longbridge.com/zh-HK/news/277102414.md" description: "On Thursday, among the top 20 stocks by trading volume in the U.S. market, NVIDIA fell 5.46%, with a trading volume of $66.455 billion, as investors worried about the sustainability of AI spending. Morgan Stanley analysts pointed out that although NVIDIA's performance exceeded expectations, the market reaction was muted, mainly due to concerns over long-term profitability. Tesla fell 2.12% due to the departure of the Cybercab project manager. SanDisk, on the other hand, rose 3.09% as a short-selling report indicated its valuation was overestimated" datetime: "2026-02-26T21:45:52.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/277102414.md) - [en](https://longbridge.com/en/news/277102414.md) - [zh-HK](https://longbridge.com/zh-HK/news/277102414.md) --- > 支持的語言: [简体中文](https://longbridge.com/zh-CN/news/277102414.md) | [English](https://longbridge.com/en/news/277102414.md) # Top 20 US stock trading volumes on February 27: NVIDIA fell over 5%, investors are concerned about the sustainability of AI spending On Thursday, NVIDIA, the top stock by trading volume in the U.S. market, fell 5.46%, with a trading volume of $66.455 billion. As NVIDIA's major clients have indicated that they are significantly increasing hardware spending, the market had already anticipated its heavyweight earnings report. Joseph Moore of Morgan Stanley stated that this is a historic performance for the chip company, with "earnings exceeding expectations and guidance being raised." NVIDIA's revenue was approximately $3 billion higher than expected, and its performance guidance exceeded analysts' previous model forecasts by about $5 billion. Such a degree of outperformance may have been anticipated, as NVIDIA's hyperscale customers recently raised their capital expenditure forecasts, indicating that chip spending will continue to surge. Moore noted that while the muted stock price reaction is surprising, the controversy surrounding NVIDIA's stock is "essentially long-term." Despite the increase in capital expenditure forecasts, investors have been concerned about the sustainability of artificial intelligence spending. Moore stated that based on all investments so far, the free cash flow generation of hyperscale companies seems to be "under significant pressure." Tesla, the second-highest stock, fell 2.12%, with a trading volume of $21.725 billion. Tesla's Cybercab project manager, Viktor Neikita, has left the company. Neikita joined Tesla in 2017 as an intern on the Model 3 production line when the company was experiencing what Musk referred to as "production hell." Over nearly nine years, he gradually rose from an engineering position to ultimately become the head of the Cybercab vehicle project. SanDisk, ranked third, rose 3.09%, with a trading volume of $14.925 billion. Citron Research released a short report on February 24, announcing the establishment of a short position in SanDisk, pointing out that SanDisk's current valuation is overestimated and that the high-margin phase of the storage chip industry is temporary. The report stated that the tight supply of storage is only a temporary phenomenon, and once major manufacturers restore yields and release capacity, the supply-demand dynamics may reverse. NAND flash memory, as SanDisk's main product, is essentially a commodity, with prices and profitability dominated by supply-demand cycles. The industry has historically experienced cycles of "boom—oversupply—collapse," with rapid reversals following each high-margin phase. Unlike NVIDIA's GPU ecosystem, NAND flash memory products are highly interchangeable, and competition among manufacturers revolves around cost and scale. Additionally, Western Digital recently significantly reduced its stake in SanDisk at a price about 25% lower than the current market price, which Citron believes is an insider's early judgment on the peak of the cycle. Micron, ranked fourth, fell 3.13%, with a trading volume of $14.581 billion. Due to the demand for artificial intelligence infrastructure and tight supply of high-bandwidth memory pushing up pricing and profit expectations, the stock is trading near record high levels. Analysts have pointed out that the stock faces cyclical risks. Broadcom, ranked seventh, fell 3.19%, with a trading volume of $10.305 billion. The company's Indian-origin executive, Harish Bharadwaj, Vice President of Product Marketing, stated that based on the latest stacked chip design technology, the company expects to sell at least 1 million chips by 2027 Bharadwaj told the media that the sales of the chips, expected to reach 1 million units, are based on a self-developed technology solution: stacking two chips vertically to tightly combine different silicon wafers, thereby significantly enhancing the data transfer speed between the chips. Ranked 10th, AMD fell 3.41%, with a trading volume of $7.083 billion. The company has established a long-term partnership with Nutanix aimed at building a more open and enterprise-friendly artificial intelligence platform to support the next wave of intelligent AI applications. The collaboration aims to combine AMD's chips with Nutanix's cloud software and orchestration tools to create a system capable of smoothly running AI workloads across data centers, hybrid cloud settings, and even edge environments. As part of the collaboration, AMD will invest $150 million in Nutanix at a price of $36.26 per share and has committed to providing up to an additional $100 million in funding. This equity investment is expected to be completed in the second quarter of 2026. Ranked 14th, Netflix rose 2.29%, with a trading volume of $5.777 billion. Amid the U.S. Department of Justice's review of antitrust issues and Warner Bros. Discovery's evaluation of Paramount Sky Dance's higher all-cash offer, Netflix CEO Ted Sarandos will visit the White House. Ranked 15th, TSMC fell 2.82%, with a trading volume of $5.418 billion. Ranked 16th, Salesforce rose 4.03%, with a trading volume of $5.119 billion. Salesforce's stock price increased due to better-than-expected earnings, a massive buyback, and optimistic guidance. On Thursday, Salesforce's stock climbed after the company reported stronger-than-expected fourth-quarter results, raised its dividend, initiated a new stock buyback plan of up to $50 billion, and provided performance guidance that exceeded Wall Street expectations. The stronger-than-expected Q4 results boosted confidence. Salesforce reported fourth-quarter revenue of $11.2 billion, slightly above expectations, while adjusted earnings per share were $3.81, far exceeding the expected $3.04. Revenue grew 12% year-over-year, with remaining performance obligations reaching $72.4 billion, an increase of 14%. Robust outlook and significant capital return plan. The company raised its quarterly dividend to $0.44 per share and launched a new $50 billion stock buyback plan, replacing all previous authorizations. Salesforce also released optimistic performance guidance. For the first quarter, the company expects revenue between $11.03 billion and $11.08 billion, above analyst expectations, with adjusted earnings per share of $3.11 to $3.13. For the fiscal year 2027, the company expects revenue of $45.8 billion to $46.2 billion, with adjusted earnings per share of $13.11 to $13.19. CEO Marc Benioff noted that artificial intelligence remains a major growth driver and reiterated Salesforce's long-term goal of achieving $63 billion in revenue by fiscal year 2030 Despite the target price downgrade, analysts remain optimistic. After the company announced its quarterly results, several analysts maintained positive ratings but lowered the target price for the stock. Here are some of the most noteworthy changes from Thursday. 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