Technology

Microsoft Leads AI Race Despite M365 Copilot’s Slow Start: Analyst

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Piper Sandler analyst Brent Bracelin reiterated Microsoft Corp (NASDAQ:MSFT) with an Overweight and a $455 price target. After attending several developer sessions at the Microsoft AI event in San Francisco today, the analyst remained encouraged by the momentum around the most mature AI products (GitHub Copilot and Azure AI) but felt the new 3-month-old M365 Copilot remains in the early enterprise adoption phase. Microsoft remained his favorite AI All-Star stock, but tactically, after the 57% move in 2023, it might need further AI proof points and time to grow into the premium multiple over the next 3-6 months. Regardless, Microsoft has a first-mover advantage in AI that makes this a core growth holding. GitHub Copilot Enterprise (scheduled to GA in February) features enough compelling enhancements to justify the $39/month price point (vs. GitHub Copilot individual pricing at $10/month and business version at $19/month). The number of GitHub Copilot users has scaled quickly to […]

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Marvell Technology (NASDAQ:MRVL) stock Analyst Ratings

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Marvell Technology (NASDAQ:MRVL) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/12/2024 14.09% Citigroup $61 → $75 Maintains Buy 12/05/2023 6.48% Barclays $75 → $70 Maintains Overweight 12/01/2023 6.48% UBS $75 → $70 Maintains Buy 12/01/2023 6.48% Piper Sandler $75 → $70 Maintains Overweight 12/01/2023 14.09% Benchmark → $75 Reiterates Buy → Buy 12/01/2023 -1.13% Susquehanna $70 → $65 Maintains Positive 12/01/2023 -4.17% Morgan Stanley $65 → $63 Maintains Equal-Weight 12/01/2023 -5.69% Raymond James $64 → $62 Maintains Outperform 12/01/2023 -1.13% Needham → $65 Reiterates Buy → Buy 12/01/2023 52.11% Rosenblatt → $100 Reiterates Buy → Buy 12/01/2023 6.48% Keybanc $80 → $70 Maintains Overweight 11/30/2023 52.11% Rosenblatt → $100 Reiterates Buy → Buy 11/14/2023 -8.73% Roth MKM → $60 Initiates Coverage On → Buy 08/25/2023 14.09% B of A Securities $80 → $75 Maintains Buy 08/25/2023 -1.13% Morgan Stanley $68 →

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Microsoft Tops Apple for Title of World’s Most Valuable Public Company — Barrons.com

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By Eric J. Savitz Microsoft edged past Apple Friday to reclaim the title of the world’s most valuable public company. The software giant now has a valuation of $2.89 trillion, slightly ahead of Apple at $2.87 trillion. Microsoft has been gradually closing the gap. Over the last 12 months, its shares have rallied 62.9%, versus a 39.4% gain for Apple. So far in 2024, Microsoft shares are 3.3% higher, while Apple is off 3.4%. Microsoft’s valuation briefly exceeded Apple’s market cap on an intraday basis earlier this week, before falling back. Apple had spent more than 500 days as the stock market’s most valued company. Microsoft last held the top spot on a closing basis in November 2021. The emergence of the artificial intelligence software boom has been a boost to Microsoft shares. The company has been aggressively rolling out Copilot AI software across its portfolio, the Azure cloud business

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We Built a Better Magnificent 7. Apple And Tesla Are Out. — Barron’s

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Adding finance and healthcare names and paring back on tech and communication services should make for a steadier performance. By Nicholas Jasinski The Magnificent Seven had an extraordinary year in 2023 — one that will be very difficult to repeat. And there will be a new Magnificent Seven in 2024. Alphabet, Amazon.com, Apple, Meta Platforms, Microsoft, Nvidia, and Tesla certainly earned the moniker last year. The seven largest stocks by market value in the S&P 500 each returned 49% or more in 2023 and were responsible for the bulk of the index’s gains. Similar returns in 2024 are unlikely. For one thing, this is the first time the seven largest stocks have posted such returns since at least 1999, suggesting a reversion to the mean may lie ahead. What’s more, just once in that time span have the same seven stocks remained the largest in the index over consecutive years.

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Cloudflare CEO Says Viral Firing Video Is ‘Painful’: ‘We Were Far From Perfect… We Don’t Always Get It Right’

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Cloudflare Inc. (NYSE:NET) CEO Matthew Prince has admitted that a viral video of an employee being fired is “painful for me to watch,” but maintained that the decision to fire the said employee was not the mistake in this case. What Happened: Responding to a post by Bloom Institute‘s co-founder Austen Allred, Prince went into a little more detail about what went wrong with the employee who recorded herself being laid off. Viewers of the 9-minute video posted by former Cloudflare employee Brittany Pietsch have called it “horrendous” and that there is a “culture or senior leadership problem” at Cloudflare. “The video is painful for me to watch. Managers should always be involved. HR should be involved, but it shouldn’t be outsourced to them, no employee should ever actually be surprised they weren’t performing,” Prince said. We fired ~40 sales people out of over 1,500 in our go to market org. That’s a normal quarter. When

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Snowflake (NYSE:SNOW) stock Analyst Ratings

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Snowflake (NYSE:SNOW) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/12/2024 3.07% Barclays → $198 Downgrades Overweight → Equal-Weight 01/08/2024 17.13% Needham → $225 Reiterates Buy → Buy 01/05/2024 19.73% RBC Capital → $230 Initiates Coverage On → Outperform 01/04/2024 -16.71% Monness, Crespi, Hardt → $160 Downgrades Neutral → Sell 01/02/2024 30.14% Piper Sandler $220 → $250 Maintains Overweight 12/11/2023 19.73% TD Cowen $215 → $230 Maintains Outperform 12/01/2023 -1.09% Rosenblatt $170 → $190 Maintains Neutral 11/30/2023 17.65% Scotiabank $194 → $226 Maintains Sector Outperform 11/30/2023 -1.09% Raymond James $170 → $190 Maintains Outperform 11/30/2023 22.33% Stifel $200 → $235 Maintains Buy 11/30/2023 9.32% Truist Securities $200 → $210 Maintains Buy 11/30/2023 10.36% JMP Securities $200 → $212 Maintains Market Outperform 11/30/2023 9.32% Mizuho $180 → $210 Maintains Buy 11/30/2023 24.93% Oppenheimer $220 → $240 Maintains Outperform 11/30/2023 9.32% Wells Fargo $190

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Qualcomm (NASDAQ: QCOM) stock Analyst Ratings

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Qualcomm (NASDAQ: QCOM) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/12/2024 13.79% Citigroup → $160 Upgrades Neutral → Buy 12/08/2023 -6.12% Morgan Stanley $119 → $132 Downgrades Overweight → Equal-Weight 11/03/2023 -0.43% DZ Bank → $140 Upgrades Hold → Buy 11/02/2023 -0.43% JP Morgan $135 → $140 Maintains Overweight 11/02/2023 -0.43% Susquehanna $130 → $140 Maintains Positive 11/02/2023 -15.37% Morgan Stanley $129 → $119 Maintains Overweight 10/24/2023 -7.55% Susquehanna $140 → $130 Maintains Positive 09/14/2023 3.12% Rosenblatt → $145 Reiterates Buy → Buy 09/14/2023 3.12% Keybanc → $145 Reiterates Overweight → Overweight 09/12/2023 -28.88% Wells Fargo $95 → $100 Maintains Underweight 08/23/2023 -0.43% Mizuho → $140 Reiterates Buy → Buy 08/09/2023 -11.1% Daiwa Capital → $125 Downgrades Buy → Outperform 08/03/2023 -0.43% Piper Sandler $120 → $140 Maintains Overweight 08/03/2023 -8.26% Morgan Stanley $125 → $129 Maintains Overweight 08/03/2023 -0.43% Susquehanna

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Qualcomm Should Benefit From a Handset Recovery. Citi Says to Buy the Stock. — Barrons.com

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By Angela Palumbo Qualcomm stock was rising after a Citi analyst upgraded his rating on the shares, saying he is confident about a recovery in the handset market. Analyst Christopher Danely upgraded shares of Qualcomm to Buy from Neutral and raised his target for the stock price to $160 from $110. The stock was up 1.4% to $141.03 in premarket trading on Friday. Danely wrote in a research note Friday that his industry checks “indicate inventory replenishment continues in the handset space which should benefit both revenue and margins at Qualcomm.” Qualcomm is a major supplier to the smartphone market, so any weakening in demand for the devices is trouble for the maker of mobile processors and 5G wireless chips. It suffered in 2023 when smartphone demand took a hit. The research firm International Data Corporation reported in December that the worldwide mobile phone shipments were expected to fall to

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ServiceNow (NYSE:NOW) Stock Analyst Ratings

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ServiceNow (NYSE:NOW) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/11/2024 3.5% Stifel $650 → $740 Maintains Buy 12/06/2023 7.69% Argus Research $675 → $770 Maintains Buy 11/30/2023 1.4% Wells Fargo $675 → $725 Maintains Overweight 11/09/2023 -4.9% RBC Capital $665 → $680 Maintains Outperform 10/26/2023 -9.09% Stifel $640 → $650 Maintains Buy 10/26/2023 -13.29% Piper Sandler $600 → $620 Maintains Overweight 10/26/2023 -11.89% BMO Capital $615 → $630 Maintains Outperform 10/26/2023 -5.59% Wells Fargo $650 → $675 Maintains Overweight 10/26/2023 -9.37% Morgan Stanley $630 → $648 Maintains Overweight 10/26/2023 -7.69% Needham → $660 Reiterates Buy → Buy 10/24/2023 -19.58% Truist Securities → $575 Reiterates Hold → Hold 10/24/2023 -13.99% BMO Capital $630 → $615 Maintains Outperform 10/19/2023 -8.11% Guggenheim → $657 Reiterates Buy → Buy 10/19/2023 -2.1% Citigroup $734 → $700 Maintains Buy 10/18/2023 -7.69% Needham → $660 Reiterates Buy →

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