Technology

ASML Holding Q3 EPS $5.24 Beats $5.00 Estimate, Sales $7.26B Miss $7.49B Estimate

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ASML Holding (NASDAQ:ASML) reported quarterly earnings of $5.24 per share which beat the analyst consensus estimate of $5.00 by 4.7 percent. This is a 21.18 percent increase over earnings of $4.32 per share from the same period last year. The company reported quarterly sales of $7.26 billion which missed the analyst consensus estimate of $7.49 billion by 3.04 percent. This is a 24.64 percent increase over sales of $5.83 billion the same period last year.

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Goldman Sachs Is Bearish On Intel Ahead of Q3

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Goldman Sachs analyst Toshiya Hari reiterated a Sell rating on Intel Corp (NASDAQ:INTC) with a price target of $28. Ahead of Intel’s 3Q23 EPS release scheduled for October 26, Hari updated the earnings model (i.e., reduced out-year gross margins and EPS) and discussed critical debates that have come up in recent conversations with investors. While he recognized the improving PC and stabilizing enterprise server demand backdrop, the company’s improved execution (i.e., on-time process technology and product ramps), and potential benefits associated with ongoing cost optimization initiatives, he remained Sell-rated on the stock and awaited signs of a stabilization in Data Center wallet share before potentially turning more constructive. Hari reduced FY23, FY24, and FY25 non-GAAP gross margins from 40.7%, 47.1%, and 50.2% to 40.6%, 42.5%, and 47.7% as he now assumes stronger headwinds resulting from the ramp of new products on new process technologies. Hari’s FY23, FY24, and FY25 non-GAAP

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CFRA Keeps Strong Buy Opinion On Shares Of Microsoft Corp.

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CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We maintain our 12-month target at $407, based on a P/E of 30.7x our CY 25 EPS view, near its three- and five-year historical forward averages of 30.8x and 28.9x given our view of AI prospects. We hold our FY 24 (Jun.) EPS at $10.98 and FY 25 at $12.33. Ahead of Sep-Q earnings release set for 10/24, we see revenue growth of 8.8% ($54.5B) and EPS of $2.65. We think investors will be most interested to hear about commentary on Dec-Q guidance, updates on GenAI initiatives (sales/spending impact), and gaming outlook. For Dec-Q guidance, we see sales growth accelerating to +10%, on greater AI momentum and lapping steep Personal Computing declines. We project Azure growth of 26% in the Sep-Q (2 points from AI, up from

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CFRA Maintains Buy Opinion On Shares Of Apple Inc.

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CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Our 12-month target price of $220 is based on a P/E of 29x our CY 25 EPS estimate of $7.59, above peers given AAPL’s installed base and financial position. We hold our FY 23 (Sep.) EPS estimate at $6.01 while tweaking FY 24 to $6.56 from $6.61 and FY 25 to $7.20 from $7.30. Ahead of Sep-Q results set to be released after the close on 11/2, we look for EPS of $1.39 on revenue of $89.3B. We believe that Services (+8% Jun-Q/+5% Mar-Q) will accelerate in the Sep-Q/Dec-Q (+10%), benefiting from a higher installed base, China momentum, and improving app store/gaming/digital ad growth. We forecast iPhone sales will rise 2%-3% in the Sep-Q and 7% in the Dec-Q, on iPhone 15 momentum, higher Pro Max pricing,

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CFRA Maintains Buy Opinion On Shares Of Alphabet Inc.

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CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We up our 12-month target to $157 from $142, on a P/E of 21x our 2025 EPS estimate, which we initiate at $7.46, below its historical forward averages. We keep our 2023 EPS estimate at $5.70 but raise 2024 to $6.57 from $6.44. Ahead of Q3 results set after the close on 10/24, we see upside to Q3/Q4 consensus views given improving trends within both Search and YouTube along with robust cloud growth. We conservatively look for GOOGL Search growth of 6% to 8% in Q3/Q4 (5% in Q2/2% in Q1), as digital ad trends remain favorable while greater AI emphasis supports higher ROI and overall ad spend. We see YouTube growth accelerating to over 10% in Q3/Q4 (+4% in Q2), on easier comps, greater Shorts monetization,

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CFRA Maintains Buy Opinion On Shares Of Meta Platforms Inc.

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CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We keep our 12-month target of $350, based on a P/E of 18.7x our 2025 EPS view, below historical given regulatory/ad spend risks. We increase our 2023 EPS estimate to $13.35 from $12.30, and 2024’s to $16.44 from $14.75, and 2025 to $18.75 from $16. Our Buy reflects META’s attractive valuation, its slew of opportunities (AI, metaverse, Reels), and improving margin trajectory. Ahead of Q3 results on 10/26, we see ad growth of +20% in Q3/Q4 (an acceleration from +12% in Q2 and +4% in Q1), as digital ad trends have improved (ad revenue -4% a year ago). We project META retaking share via greater AI emphasis that is improving recommendations/rankings as well as targeting/measuring capabilities and see revenue contribution from Llama as we view AI agents

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CFRA Maintains Strong Buy Opinion On Shares Of Microsoft Corporation

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CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: MSFT completed its $75B Activision Blizzard (ATVI 94 NR) deal after the U.K.’s Competition and Markets Authority (CMA) said the deal no longer poses a competitive risk within the high-growth cloud streaming gaming market. MSFT agreed to give up cloud streaming rights (ex. EU) to Ubisoft (UBI EUR29 ***) to get approval from the CMA. UBI will compensate MSFT for the cloud rights to ATVI’s games through a one-off payment and recurring payment agreement that supports pricing based on usage. Although we believe MSFT gave up a lot to get this deal done (e.g., cloud gaming rights to UBI, long-term deals for gaming rights to competitors, and free licenses to stream in the EU), we note that it does bolster its own streaming offering (Xbox GamePass). MSFT

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Micron Technology, Inc. (NASDAQ:MU) Post Q4 2023 Earnings Analyst Call Transcript

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Micron Technology, Inc. (NASDAQ:MU) Post Q4 2023 Earnings Analyst Conference Call September 27, 2023 6:00 PM ET Company Participants Samir Patodia – IR Mark Murphy – EVP & CFO Manish Bhatia – EVP of Global Operations Sumit Sadana – EVP & Chief Business Officer Conference Call Participants Harlan Sur – JPMorgan Ambrish Srivastava – BMO Capital Markets Chris Danely – Citigroup Aaron Rakers – Wells Fargo Securities Vivek Arya – Bank of America Merrill Lynch Karl Ackerman – BNP Paribas Exane Brian Chin – Stifel Quinn Bolton – Needham & Company Operator Thank you for standing by, and welcome to Micron’s Post-Earnings Analyst Call. At this time, all participants are in listen-only mode. After the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions] And now I’d like to introduce your host for today’s program, Samir Patodia, Investor Relations. Please go ahead, sir. Samir Patodia Thanks. And welcome to

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