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CrowdStrike Holdings, Inc. (CRWD) Q1 2025 Earnings Call Transcript

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) Q1 2025 Earnings Conference Call June 4, 2024 5:00 PM ET Company Participants Maria Riley – Vice President of Investor Relations George Kurtz – President, Chief Executive Officer and Co-Founder Burt Podbere – Chief Financial Officer Conference Call Participants Andrew Nowinski – Wells Fargo Saket Kalia – Barclays Brian Essex – JPMorgan Tal Liani – Bank of America Hamza Fodderwala – Morgan Stanley Matthew Hedberg – RBC Capital Markets Fatima Boolani – Citi Gabriela Borges – Goldman Sachs Alex Henderson – Needham John DiFucci – Guggenheim Securities Operator Good day, everyone, and thank you for standing by. Welcome to CrowdStrike Fiscal First Quarter 2025 Results Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today’s conference is being recorded. I would now like to hand it over […]

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Apple GPT, AI-Siri, VisionPro’s Global Rollout: What To Expect At WWDC 2024

Apple Inc. (NASDAQ:AAPL) is set to unveil significant advancements at its annual Worldwide Developers Conference (WWDC) from June 10-14, 2024, with a highly anticipated keynote on June 10. The tech giant is expected to spotlight new AI-powered features across its core applications, along with updates to its operating systems, according to a recent note by Goldman Sachs analyst Michael Ng. AI Integration Across Apple Ecosystem Goldman Sachs anticipates Apple’s AI strategy will focus on embedding generative AI tools within its core applications like Safari, Photos, and Notes, providing practical tools for users through a blend of on-device and cloud processing. Ng stated, “We expect Apple’s AI strategy to be focused on embedding generative AI tools within its core applications to provide practical tools for users.” The upcoming iOS 18, traditionally announced at WWDC and released in mid-to-late September, is poised to be a cornerstone of Apple’s AI integration. Ng noted

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Broadcom’s AI Shine Has Worn Off. It Could Still Be a Winner Ahead of Earnings.

The rally in Broadcom stock has leveled off as doubts set in about the sustainability of the AI boom for any company not named Nvidia. However, there are still plenty of believers in on Wall Street and analysts at Melius Research are joining the ranks. Broadcom stock is up 65% over the last 12 months, but is also down nearly 6% over the past three months. Its full-year guidance for revenue of $50 billion, which accompanied its first-quarter earnings back in March, didn’t wow the market and its rally stalled. However, with Broadcom’s earnings due on June 12, Melius Research’s Ben Reitzes sees reasons to get on board now, and most have to do with artificial intelligence. “Broadcom is one of the must-own AI stocks due to its leadership as a fabless semiconductor provider across many categories — but its Networking division (30% of revenue) should drive upside with AI

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NVIDIA, Other Chip Stocks Set for Growth Despite Near-term Challenges, BofA Securities Says

NVIDIA (NVDA), Broadcom (AVGO), and other chip stocks might face some challenges in the short term, however, cloud computing, the automotive industry, and complexity continue to back a bullish view, BofA Securities said in a note Monday. Analysts, including Vivek Arya, said that the SOX index has gone up 23% this year, with semiconductor companies now being among the biggest in the S&P 500 index. Previously, chip stocks and the broader market or SPX had similar price-to-earnings ratios, but since November 2022, the SOX index has been trading at a higher premium. In the short term, however, the SOX might face some challenges due to factors like increasing interest rates, US elections, geopolitical tensions, negative news about artificial intelligence, and seasonal weakness in Q3, the analysts added. The top five global semiconductor equipment stocks are currently trading at a 46% premium versus their historical average, with a price-to-earnings ratio of

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Here’s What Could Slow Nvidia’s Momentum

Nvidia needs to grow by 70% a year to support its stock price Nvidia’s stock is unlikely to produce the return that exuberant investors are expecting. Nvidia (NVDA) shareholders need a reality check. Nvidia’s stock price is currently trading on the implicit assumption of faster growth than even the most optimistic Wall Street analyst is projecting. Nvidia’s stock is unlikely to produce the return that exuberant investors are expecting. Pointing this out is not a criticism of the company, whose performance has been nothing short of phenomenal. It’s a matter of simple math: How fast must Nvidia grow to support its stock price? The answer depends on two key points: What the stock’s return will be over the next five years: It would be unrealistic to assume Nvidia’s stock will appreciate at the same fantastic rate it has over the past 12 months (176%) or the past five years (100%

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Qualcomm Promises New Chips Will Power Unprecedented PC Battery Life

Qualcomm Inc (NASDAQ:QCOM) boasts that its new chips will allow customers to operate their laptops extensively without concerns about battery life. San Diego-based Qualcomm is supplying the semiconductors for Microsoft Corp’s (NASDAQ:MSFT) latest Copilot+ PCs, which incorporate advanced AI features. Both companies highlighted the importance of Qualcomm’s hardware in enabling these AI enhancements while maintaining long battery life, reported Bloomberg. Qualcomm CEO Cristiano Amon remarked at the Computex trade show that the collaboration is groundbreaking. He compared it to the significance of Windows 95. Amon emphasized that Windows laptops powered by Qualcomm’s Snapdragon X Elite systems will boast up to twice the battery life of traditional models and will be over 100 times more power-efficient in running certain AI features. Qualcomm, along with its industry peers, has been working for more than a decade to reduce the PC sector’s reliance on Intel Corp(NASDAQ:INTC) by introducing key components based on Arm

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CFRA Maintains Buy Opinion On Shares Of Nvidia Corporation

At Computex 2024, Jensen Huang spent his keynote articulating the company’s opportunities ahead as we embark on the next industrial revolution, driven by AI factories. We see this sea change as in the very early innings. On the hardware side, Blackwell remains slated to ramp in the second half this year, with an Ultra Blackwell chip slated for 2025, while the successor to Blackwell was also announced (named Rubin) and is likely to ramp in early 2026. This is in line with NVDA’s intent to reduce the GPU cadence. Although Jensen didn’t go into details, Rubin is likely to provide a massive step up in compute to Blackwell and will be based on HBM4. On the software side, NVDA’s competitive moat appears stronger than ever given its ability to control the entire stack and more than 350 (and growing) domain specific libraries that continue to help support penetration into new

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CFRA Maintains Buy Opinion On Shares Of Advanced Micro Devices, Inc.(AMD)

At Computex 2024, AMD provided greater insights across its AI hardware capabilities in both data center and PCs. On the accelerator side, AMD introduced an annual cadence (like NVIDIA) where its plans to make the Instinct MI325X available in Q4 (focus on memory capacity with 288GB of ultra-fast HBM3E). AMD also highlighted that the MI350 Series will be available in 2025, with up to 35x AI inference boost versus the MI300 Series, while the MI400 accelerators will launch in 2026. Its Turin EPYC CPUs will be available in the second half of 2024. On the device side, AMD also highlighted its Ryzen AI 300 Series for Copilot+ PCs. Although AMD remains well behind peer NVIDIA, it is expected to generate at least $4B in GPU server revenue in CY 24 during its first full year selling the offering, largely supported by its partnership with Microsoft. We await whether AMD’s GPU

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Marvell Reports Worse-Than-Expected Q1 Results: The Details

Marvell Technology, Inc. (NASDAQ:MRVL) reported its first-quarter financial results after the bell Thursday. Here’s a look at the highlights from the report. The Details: Marvell reported quarterly earnings of 24 cents per share, which missed the analyst consensus estimate of 25 cents and is a 22.58% decrease from earnings of $0.31 per share from the same period last year. Quarterly sales came in at $1.16 billion which missed the analyst consensus estimate of $1.18 billion and is a 12.18% decrease from sales of $1.32 billion year-over-year. Marvell also reported non-GAAP gross margin of 62.4% for the quarter. “Marvell delivered first quarter fiscal 2025 revenue of $1.161 billion, above the mid-point of guidance, driven by stronger than forecasted demand from AI. Our data center revenue grew 87% year over year, with the start of a ramp in our custom AI programs complementing our substantial base of electro-optics revenue,” said Matt Murphy, Marvell’s chairman and CEO.

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Marvell Technology Shares Slip as Earnings Edge Guidance — Barrons.com

By Eric J. Savitz Marvell Technology shares are losing ground in late trading Thursday after the chip maker posted April quarter results that edged Street estimates. For the fiscal first quarter, Marvell reported revenue of $1.16 billion, down 12% from a year ago, but slightly ahead of both the company’s forecast and the Street consensus as tracked by FactSet at $1.15 billion. On an adjusted basis, Marvell earned 24 cents a share, a penny above the company’s forecast, but in line with the Street consensus. Adjusted gross margin of 62.4% was within the company forecast of 62% to 63%. Marvell said that the company saw “stronger than forecasted demand” from AI related applications in the quarter. Data center revenue was up 87% from a year ago, Marvell said. For the July quarter, the company sees revenue of $1.25 billion, give or take 5%, slightly above consensus at $1.22 billion, with

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Dell Earnings Show Fervent AI Demand, but Margin Talk Sends Stock Sliding

By Emily Bary Shipments of AI servers more than doubled sequentially to $1.7 billion Dell Technologies Inc. blazed past expectations for its latest quarter as it continued to benefit from explosive artificial-intelligence demand, but analysts keyed in on the margin impact of that growth. Management shared an expectation for Dell’s (DELL) gross-margin rate to decline roughly 150 basis points in fiscal 2025, due to “inflationary input cost, the competitive environment and a higher mix of AI optimized servers.” Overall operating income declined 14% to $920 million in the latest quarter, while operating income within infrastructure solutions slipped 1% to $736 million despite the big rise in revenue for that segment, which houses the server business. The stock extended its pullback from record highs, dropping 13.1% in Thursday’s after-hours session despite upbeat revenue guidance for the fiscal second quarter as well. The stock had dropped 5.2% during the regular session, to

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