Monday's second most-traded US stock, NVIDIA (NVDA), closed up 2.12% at a record high, with turnover of 30.139 billion US dollars. A Morgan Stanley report maintained an overweight rating on NVIDIA with a target price of 300 US dollars. Morgan Stanley re-listed it as its top semiconductor pick based on six key points:

first, broad customer structure, with roughly half of its business coming from a wider client base including model companies, new cloud providers, sovereign entities and enterprises;

second, this breadth hedges against land, power and data center constraints, with 55 of its 80 cloud partners located outside the US, generating high-margin software and services revenue;

third, its share of spending from the top five cloud service providers is steadily rising, and general-purpose processors offer the longest asset lifespan;

fourth, its strategy to increase revenue per gigawatt, with the Feynman architecture in 2028 set to significantly raise revenue per gigawatt from 40 billion US dollars to more than 50 billion US dollars, and the next-generation Vera Rubin platform delivering up to a 25-fold token improvement over Blackwell;

fifth, resident AI agents are driving up graphics processor demand, and the company is confident that processor revenue will grow from 20 billion US dollars in 2026 to 40 billion US dollars in 2027;

sixth, it is mobilizing about 500 billion US dollars in non-proprietary capital for investment in AI data centers, with a commitment to return 50% of cash to shareholders.

On valuation, based on 2027 earnings per share of around 15 US dollars, this corresponds to a price-to-earnings ratio of about 15 times. On earnings forecasts, revenue is expected to grow from about 216 billion US dollars in 2026 to about 406 billion in 2027 and about 690 billion in 2028.

Third most-traded was SpaceX (SPCX), which closed up 7.63%, rising to its highest level since mid-June and pushing Musk's net worth back above 1 trillion US dollars, with turnover of 22.518 billion US dollars. Morgan Stanley analysts said in a Sunday report that SpaceX looks "cheap" at the current price and highlighted "future AI product launches, Starship progress and more neocloud contracts." They recommended buying the stock and gave a target price of 300 US dollars, about 75% above Monday's closing price of 171.09 US dollars. Late last week, SpaceX completed multiple historic flights in a single day, including a crewed mission to the International Space Station for NASA and another launch that sent Google AI chips into orbit.

Fourth most-traded was Micron Technology (MU), which closed down 1.02%, with turnover of 19.37 billion US dollars. Bank of America noted in a research report released recently that as the fourth quarter of 2026 arrives, the memory cycle will gradually move out of its previous J-shaped growth phase and enter a new stage of development. This is consistent with Micron Technology's recently announced results and latest guidance: sales in the fourth fiscal quarter of 2026 rose 31% quarter-on-quarter, lower than the 74% growth in the third fiscal quarter; the company expects sales in the first fiscal quarter of 2027 to rise only 13.5% quarter-on-quarter.

Sixth most-traded was Tesla Motors (TSLA), which closed up 2.20%, with turnover of 15.879 billion US dollars. Tesla Motors reported third-quarter deliveries that beat Wall Street expectations, helped by a recovery in Europe this year after weak sales there last year. Tesla Motors delivered 486,532 vehicles in the third quarter, above the analysts' average estimate of 456,896. The data suggest that after two consecutive years of annual sales declines, Tesla Motors' core auto business may be stabilizing.

Seventh most-traded was Microsoft (MSFT), which closed up 1.48%, with turnover of 13.985 billion US dollars. Microsoft is working to reduce employees' use of Claude. Microsoft had previously expected internal spending on Claude AI to reach 1 billion US dollars, and after asking employees to cut back on Claude to save costs and spend more time using Microsoft's own AI tools, it has lowered that spending forecast by more than one-third.

Eighth most-traded was WBD, which closed up 0.03%, with turnover of 13.485 billion US dollars.

Ninth most-traded was Apple, which closed down 0.24%, with turnover of 11.451 billion US dollars. According to media reports, some iPhone 18 Pro Max users using AT&T communications services were unable to receive cellular network signals due to device problems, preventing them from making calls, using mobile data and sending or receiving text messages, and the affected devices could only maintain basic use through Wi-Fi. Apple confirmed the issue on October 2 local time and released a carrier settings update and iOS 27.0.1 system version to prevent the problem from spreading further. But installing the update cannot repair devices that have already lost service, and Apple said it will provide free replacement phones for affected users.

Tenth most-traded was Meta Platforms, which closed up 1.90%, with turnover of 11.266 billion US dollars.

Eleventh most-traded was SanDisk, which closed down 0.92%, with turnover of 11.1 billion US dollars.

Fourteenth most-traded was Amazon, which closed down 0.05%, with turnover of 9.873 billion US dollars.

Fifteenth most-traded was Intel, which closed up 2.63%, with turnover of 9.453 billion US dollars. It was previously reported that TSMC and Musk's Terafab are discussing a potential partnership.

Sixteenth most-traded was Google A, which closed up 0.86%, with turnover of 8.853 billion US dollars.

Seventeenth most-traded was AMD, which closed down 0.34%, with turnover of 8.631 billion US dollars.