Top 20 US Stocks by Trading Volume on February 11: Spotify Sees Strong User Growth, Shares Surge on Tuesday

On Tuesday, Tesla, ranked first in U.S. stock trading volume, closed up 1.89% with a turnover of $27.15 billion. Tesla appointed one of its European business executives to oversee global electric vehicle sales, marking the latest leadership change in the company’s troubled automotive division.

According to informed sources, Joe Ward, Vice President of Tesla's Europe, Middle East, and Africa (EMEA) operations, will now lead the company's sales, service, and delivery organization.

Second place went to Nvidia, which fell 0.79% with a turnover of $25.777 billion. Recent news indicates that Samsung Electronics will begin mass production of next-generation high-bandwidth memory chips ahead of schedule. Samsung plans to start large-scale production of HBM4 chips this month, supplying Nvidia’s next-generation AI accelerator, Vera Rubin. Reportedly, this chip’s processing speed is about 22% higher than the previous HBM3E, with data transfer rates reaching up to 11.7 Gbps.

Microsoft ranked third, closing down 0.08% with a turnover of $18.61 billion. According to media reports on Tuesday, Trump intends to exempt companies such as Amazon, Google, and Microsoft from upcoming tariffs on chips, as these companies are racing to build data centers powering the AI boom.

Additionally, some reports state that the Trump administration hopes tech companies will commit to joining a new agreement regarding AI data centers. The draft agreement lists related commitments to ensure that data centers do not drive up household electricity prices, strain water resources, or disrupt the energy grid.

Micron ranked fifth, closing down 2.67% with a turnover of $13.199 billion. Deutsche Bank raised Micron Technology's target price from $300 to $500.

SanDisk ranked eighth, closing down 7.16% with a turnover of $8.676 billion. Goldman Sachs stated in a report on February 8 that the global memory market will experience one of the most severe supply shortages in history during 2026-2027, with significant supply-demand gaps in DRAM, NAND, and HBM categories. More importantly, even in the extreme scenario of sharply declining smartphone and PC demand, strong server demand can absorb the shock and maintain a tight market landscape.

The company’s recently released financial report shows robust fundamentals: earnings per share of $6.20 far exceeded the market expectation of $3.31, revenue reached $3.03 billion (a 61% year-on-year increase), and the management’s positive forward guidance strongly supported the recent rally. There is a contradiction between market views and volatility: many institutions have raised their target prices (some as high as the $750-1000 range) and given buy ratings, but extreme volatility and overbought technical indicators have triggered short-term profit-taking; MarketBeat’s consensus analyst rating is “Moderate Buy,” with an average target price of $542.85.

Palantir ranked tenth, closing down 2.38% with a turnover of $7.873 billion. The stock had risen for two consecutive days prior.

Oracle ranked twelfth, closing up 2.11% with a turnover of $6.419 billion. Recently, brokerage firm Davidson upgraded Oracle’s stock rating from “Neutral” to “Buy,” reflecting a reassessment of Oracle’s future growth potential by the market. Davidson’s analysts pointed out that Oracle’s continued investment in cloud computing and AI—especially in data center construction—is expected to bring considerable revenue growth for the company. As enterprise demand for data processing and storage continues to rise, Oracle’s competitive edge in this field is becoming increasingly evident.

In addition, Fitch assigned a “BBB” rating to Oracle’s senior notes while affirming its issuer credit rating and maintaining a stable outlook. This rating not only boosts market confidence in Oracle’s financial health but also provides investors with a more solid foundation. Amid heightened global economic uncertainty, corporate credit ratings play a crucial role in investor decision-making.

Analysts noted that Oracle’s recent layoff news and plans to sell its healthcare business unit, although seemingly negative on the surface, may actually be necessary strategic adjustments. By cutting redundant positions and optimizing resource allocation, Oracle can devote more funds and energy to building AI data centers, better meeting market demand. Such transformation not only helps improve operational efficiency but also enhances the company’s competitiveness in technological innovation.

Spotify ranked sixteenth, closing up 14.75% with a turnover of $5.197 billion, after the company reported third-quarter 2025 earnings that exceeded Wall Street expectations.

Spotify reported quarterly earnings per share of $3.83, surpassing the consensus estimate of $1.87. Revenue reached $4.99 billion (equivalent to €4.19 billion), a 7% year-on-year increase and above the expected $4.92 billion.

The financial report showed accelerated user growth. Monthly active users increased by 17 million to 713 million, exceeding the company’s forecast of 14 million. Paid subscription users grew 12% year-on-year to 281 million, in line with expectations and showing broad regional growth.

Despite strong growth momentum, the earnings trend has slowed. The average revenue per paid user fell 4% year-on-year to €4.53, while ad-supported revenue declined 6%.

Profit margin performance diverged, with average revenue per paid user declining. Driven by growth in the ad-supported business, Spotify’s gross margin increased by 53 basis points to 31.6%.

Intel ranked eighteenth, closing down 6.19% with a turnover of $4.748 billion. Recent reports state that Intel’s foundry business has successfully secured a major client, MediaTek, and is expected to mass-produce Dimensity mobile chips using its most advanced 14A process.

Sources indicate that Intel is actively expanding its client base. Previous reports said Apple has signed a confidentiality agreement to evaluate Intel’s 18A-P process, and may, in 2027 or 2028, have some non-Pro series iPhone chips or low-end M series chips manufactured by Intel.

Editor: Zhang Jun SF065