March 20 US Stock Trading Volume Top 20: UBS Lowers Tesla Q1 Delivery Expectations

On Thursday, Micron Technology, the top trading stock in the U.S. stock market, fell 3.78%, with a trading volume of $32.57 billion. Rising spending plans and cautious investor sentiment overshadowed an otherwise strong quarterly report.

The stock briefly rose to nearly $470, approaching a historical high during Wednesday’s trading but fell back to around $441 in after-hours trading, indicating some investors locked in profits after the sharp increase.

Despite Micron’s earnings exceeding expectations, the stock experienced a pullback. For the quarter ending February 26, the company reported revenue of $23.86 billion, up from $8.05 billion in the same period last year, driven by strong demand for memory chips used in AI systems. Tight supply and ongoing demand for higher memory capacity in advanced computing continue to support pricing.

Nevertheless, Micron raised its capital expenditure forecast for fiscal 2026 from $20 billion to $25 billion and hinted at growth in 2027. The increased spending outlook and industry cyclicality seem to have sparked profit margin concerns, dragging the stock lower despite the positive earnings.

Nvidia, the second most traded stock, declined 1.02%, with a trading volume of $29.916 billion. On Thursday, Nvidia announced an update for GeForce NOW, divided into two parts: new games and VR streaming upgrades. New titles include Pearl Abyss’s open-world game “Red Desert” and Bethesda’s classic “Fallout 3.”

Technologically, this update will increase streaming frame rates for devices like Apple Vision Pro, Meta Quest, and Pico from 60FPS to 90FPS, currently available only to Ultimate members. Nvidia stated that users can turn their real space into a “personal gaming theater,” running PC games on a large virtual screen with smoother visuals and more natural motion.

Third, Tesla fell 3.19%, with a trading volume of $25.437 billion. UBS analyst Joseph Spak forecasted first-quarter deliveries of 345,000 vehicles, down from his previous estimate of 360,000, a reduction of about 4.2%. Spak noted this forecast is below the consensus of 371,000 from Visible Alpha but within the buy-side expectation range of 330,000 to 350,000. Spak maintained a sell rating on Tesla with a target price of $352.

Fourth, SanDisk rose 2.44%, hitting a new all-time high with a trading volume of $15.507 billion. The stock has now increased for five consecutive trading days.

Seventh, Meta Platforms declined 1.46%, with a trading volume of $7.836 billion. Meta announced on its official website that it will introduce more advanced AI systems for content moderation, such as identifying scam information and removing illegal content, potentially reducing reliance on outsourced vendors and contractors.

In a blog post on March 19, Meta stated that AI systems can more accurately detect violations, prevent more scams, and respond faster to real-world events, reducing over-enforcement errors.

“Over the next few years, once we confirm these more advanced AI systems consistently outperform current methods in content moderation, we will gradually deploy them across all applications, fundamentally changing our moderation approach.”

“Meanwhile, we will reduce dependence on third-party content moderation providers and focus on strengthening internal systems and staffing.” However, Meta emphasized that manual review will still be retained and AI will not be solely relied upon.

Tenth, Broadcom rose 1.24%, with a trading volume of $7.28 billion. Reports indicate that Samsung plans to supply up to 800 million gigabits (Gb) of 12-layer HBM4 chips to OpenAI in the second half of this year. These HBM4 chips will be paired with OpenAI’s first AI processor, a custom chip developed in collaboration with Broadcom (AVGO.US), expected to be manufactured by TSMC starting in Q3 and launched by the end of the year.

Eleventh, AMD increased by 2.91%, with a trading volume of $6.418 billion. Samsung Electronics announced on Wednesday that it has signed a memorandum of understanding (MOU) with semiconductor giant AMD at its Pyeongtaek plant to expand strategic cooperation on next-generation AI memory and computing technologies.

According to the MOU, Samsung and AMD will collaborate on the supply of HBM4 for AMD’s next-generation AI accelerators, the AMD Instinct MI455X GPU, and advanced DRAM solutions for the codename “Venice,” the sixth-generation AMD EPYC CPU. These technologies will support next-generation AI systems combining AMD Instinct GPUs, AMD EPYC CPUs, and rack-scale architectures like the AMD Helios platform.

Currently, Samsung and AMD are working closely to develop advanced memory technologies for AI and data center workloads. As memory bandwidth and energy efficiency increasingly impact system-level performance, this collaboration aims to provide customers with optimized AI infrastructure.

Twelfth, Lumentum Holdings rose 10.18%, with a trading volume of $5.527 billion. The leading optical communications company revealed its long-term financial growth model at OFC 2026, including a $2 billion “quarterly revenue run rate.”

Seventeenth, Alibaba declined 7.07%, with a trading volume of $1.0 billion. On March 19, Alibaba released its fiscal third-quarter report for 2026: revenue of 284.84 billion yuan, up 2% year-over-year; excluding Freshippo and Intime, the same-store growth was 9%. However, net profit was 15.63 billion yuan, down 66% YoY; non-GAAP net profit was 16.71 billion yuan, down 67%; adjusted EBITA decreased by 57%.

Meanwhile, cloud business grew 36% YoY, and AI-related revenue has maintained triple-digit growth for ten consecutive quarters.

Nineteenth, Cheniere Energy increased 5.88%, with a trading volume of $3.47 billion. Its stock surged Thursday, driven by disruptions in global liquefied natural gas supply and expanded long-term contracts with Thailand, along with the company pricing a $1 billion dual-maturity senior note offering.

The stock was also boosted by global LNG supply disruptions and a 30% surge in European natural gas prices.

Thailand is negotiating to increase its long-term LNG purchases from Cheniere by 30%, from 1 million tons to 1.3 million tons annually, with first deliveries expected this quarter.

The company priced a $1 billion dual-maturity senior note offering, due in 2036 and 2056, planning to use the proceeds for general corporate purposes.

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