Technology

Meta Stock Has More Upside as Advertising Improves, Analyst Says — Barrons.com

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By Angela Palumbo Meta Platforms stock has more room to grow because users remain engaged with its social-media platforms even as the amount of advertising there increases, Citi says. Analyst Ronald Josey increased his price target on Meta to $590 from $525 on Monday. That implies a 15% increase from the stock’s closing price on Friday. Josey also reiterated his Buy rating on the company, Facebook’s parent, and said the stock remains his top pick. “With Meta’s newer ad innovations (Adv.+ Creative, Reminder Ads, longer form Reels, etc.), a new AI video architecture, and greater overall advertiser adoption, we believe advertiser demand for Reels (and Meta) continues to improve,” Josey wrote in a research note. In 2023, Meta unveiled additions to its Ads Manager software suite that are intended to make it easier for advertisers to produce their content. Josey said that increased advertising on Meta’s social-media platforms hasn’t made […]

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ASML Not Expected to Benefit From AI for a While

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It is too early to get over-excited about how Dutch semiconductor-equipment maker ASML Holding could benefit from artificial intelligence, Bernstein analysts write in a research note. AI is already a key growth driver for Nvidia, whose sales more than tripled and earnings surged more than eightfold in its fiscal fourth quarter as it scrambles to meet demand for AI-powered chips. The analysts expect to hear how the AI opportunity could develop for ASML in the longer-term at the company’s investor day on Nov. 14. ASML shares trade flat at EUR909.50.

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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: GOOGL held its Google Cloud Next 2024 event in Las Vegas where it made a host of AI hardware/software announcements. Most notably, GOOGL unveiled its first Arm-based custom silicon CPU (Axion) and latest LLM model update (Gemini 1.5 Pro) that offers new enhanced AI capabilities (e.g., native audio). AI features coming to Google Workspace include Google Vids (an AI video creation tool), Gemini additions to Gmail, and a host of productivity tools that it looks to monetize (e.g., AI note taking/meeting summaries, translation, new security package) at an add-on cost of $10/month per user. GOOGL also announced its Vertex AI Agent Builder, a tool for Enterprises to help build AI agents, and confirmed Blackwell GPUs will be available in 2025. Overall, we come away impressed with GOOGL’s

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Buy Mobileye Stock, Analysts Say. Its Self-Driving Products Are Unrivaled. — Barrons.com

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By Emily Dattilo Mobileye Global’s autonomous driving technology is unmatched, and investors are missing out, Wolfe Research said in a note upgrading the stock Friday. Analysts led by Shreyas Patil upgraded shares of the autonomous-driving systems company to Outperform from Peer Perform and established a target for the price of $41 in a research report Friday. The stock has fallen 28% so far this year to trade around $31. To put it simply, the analysts don’t see any self-driving competition that comes close to what Mobileye is bringing to the market, across a number of metrics. “At this point we do not see a clear rival that can match Mobileye’s capabilities in cost, performance, or scalability,” they wrote. That will become more apparent over the next six to 12 months as more car equipment manufacturers sign up to use the system, the analysts added. Mobileye’s “hands-free/eyes-on” SuperVision system is similar

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Wedbush’s Dan Ives Says Apple Has ‘Best Installed Base In The World’ For Its AI Future: WWDC A ‘Key Moment’ For Cupertino

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Wedbush’s Dan Ives believes that Apple Inc.’s (NASDAQ:AAPL) installed user base of over 2 billion is the “best” in the world as far as its AI opportunity is concerned. What Happened: Ives thinks Apple’s upcoming Worldwide Developers Conference (WWDC) in June will be a “key moment” for Cupertino. Ives thinks Apple will unveil a “key part” of its AI strategy at WWDC. “I believe [it] ultimately goes to an AI App Store… which is going to be… developers, they’re going to build apps,” Ives said in an interview with Hankyung Global Market, adding that the services category is going to be a “huge opportunity” for Apple. Although Apple has been slow to adopt AI in its portfolio of devices and services, unlike its rivals Alphabet Inc.’s Google and Microsoft Corp., Ives believes Cupertino will take that leap with the iPhone 16 that is all set to launch in September this year. “They will not be on the

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Qualcomm Stock Should Get an AI Boost. But Beware of Earnings and Guidance. — Barrons.com

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J.P. Morgan analyst Samik Chatterjee on Thursday placed Qualcomm shares on the firm’s “Negative Catalyst” watch list, although he maintains his Overweight rating on the stock with a $170 target price. The analyst suggests that the recent optimism about a pickup in phone sales may be a little misplaced. “We are yet to see any significant change in the fundamentals of the smartphone market with the recovery expected to remain muted in 2024.” he writes in a research note. And Chatterjee adds that recent data on the China smartphone market raise concerns about the strength of the expected recovery. Chatterjee says March quarter revenue appears to be tracking to $9.5 billion, above the midpoint of Qualcomm’s guidance range and Street consensus as tracked by FactSet, both at $9.3 billion. But he thinks June quarter guidance will be about in line with the Street at $9.1 billion, which he doesn’t think

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Microsoft Can Double Its EPS by 2029 Based on Position in Cloud, Gen AI, Morgan Stanley Says

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Microsoft’s (MSFT) “strong secular positioning” in tech, cloud and generative artificial intelligence should help the company double its earnings per share to $24 by fiscal 2029, Morgan Stanley said in a note Thursday. Given the company’s leading position, the business should be able to achieve a compound annual growth rate of 14% in revenue and 16% in earnings per share over the next five-year period, the firm said. Growth in the company’s earnings and revenue will be driven by its cloud business, while its first mover advantage in generative AI should further compound the gains. Morgan Stanley estimates the company’s revenue from its largest three generative AI initiatives could jump from around $5 billion in 2024 to almost $67 billion in 2029, and as much as $120 billion in a bullish scenario. The firm raised its price target to $520 from $465 on the company’s stock and maintained its overweight

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CFRA Maintains Strong Buy Opinion On Shares Of Marvell Technology, 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: MRVL hosted its Accelerated Infrastructure for the AI Era event where it highlighted an objective to double its market share by 2028 (10% in 2023), led by share gain in the custom compute and switching markets, which we think has the potential to grow MRVL’s revenue by at least 3x-4x in five years. MRVL estimates that its TAM will rise at a 29% CAGR through CY 28 to $75B (estimated $21B in 2023), with accelerated custom compute at a 45%+ CAGR and switching at 15%+. On the connectivity side, AI workloads are demanding a doubling of interconnect speed every two years, or half the time to pre-ChatGPT (2x every four years). On the compute side, we see design wins from existing/new hyperscale customers and greater momentum for

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Microsoft’s Growth Soars With AI Innovations, Projected to Lead in Public Cloud by 2032: Analyst

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Morgan Stanley analyst Keith Weiss maintained Microsoft Corp (NASDAQ:MSFT) with an Overweight and raised the price target from $465 to $520. Weiss highlighted that as investors hone in on the Generative AI cycle and look to identify assets able to monetize and compound the benefits of these innovations, he extended his discrete Microsoft forecast to 5-years, highlighting the durable EPS story enabled by their strong secular positioning. Weiss expected Microsoft’s leadership position for multiple secular growth trends to translate into a 14% revenue CAGR and 16% EPS CAGR through fiscal 2029. Weiss noted that Microsoft’s improving positioning for Public Cloud drives an increasing share of the overall IT wallet, as evidenced by Microsoft Commercial revenues gaining 3.5% points of share within IDC’s overall software market estimates over the past five years. The analyst noted that more robust positioning for Enterprise PaaS workloads should enable Azure to take the market share lead in Public

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