Qualcomm Said We Do Not Expect Any Material Change In Qualcomm Technology Licensing Revenue Run Rate As A Result Of Licensing Extensions.
By Emily Bary Stock dips after earnings as revenue forecast lies in line with expectations Qualcomm Inc. blew out quarterly profit estimates in its most recent report Wednesday, but its shares moved lower in choppy aftermarket action as the company’s revenue forecast merely met expectations at the midpoint. As artificial intelligence increasingly dominates the narrative for the chip sector, Qualcomm’s (QCOM) management said the company is among the beneficiaries of the AI wave. Chief Executive Cristiano Amon called out how the company’s Snapdragon technology features into the Samsung Galaxy S24 Ultra platform. That device has various on-device AI features, including translation. “This marks the beginning of how [generative AI] will evolve the overall smartphone experience and highlights the significant opportunity for Snapdragon platforms,” he said. The company is also seeing favorable AI smartphone trends with some of its Chinese customers, Amon added. “Eventually, at a minimum it’s going to have
Qualcomm Becomes Latest Chip Company to Cheer AI En Route to an Earnings Beat Read Post »
By Ryan Shrout The chip maker’s latest earnings show both promise and the challenges ahead The earnings whirlwind for technology and silicon companies now has enveloped Advanced Micro Devices Inc. (AMD) after it reported fourth-quarter and full-year 2023 results. I know that many other stories and analysts will dive into the dollars more deeply than me, but it’s worth recounting a couple of the key points that I think are relevant to how we look at the ability for AMD to sustain its momentum into 2024. From a fourth-quarter 2023 perspective, looking at year-on-year comparisons to a 2022 that was by all accounts pretty bad for AMD (and the chip market in general), revenue was up 10%, gross profit was up 10%, margin was essentially flat, and operating income jumped 12% to over $1.4 billion. Drilling into AMD’s key business units, the data-center group saw a 38% increase in revenue
AMD Has a Solid Path to Rapid Growth – If It Can Get Past Nvidia and Intel Read Post »
The following is a summary of the QUALCOMM Incorporated (QCOM) Q1 2024 Earnings Call Transcript: Financial Performance: Qualcomm’s Q1 results exceeded expectations with revenues of $9.9 billion and an EPS of $2.75. Key drivers of revenue were QCT with $8.4 billion, due to demand for handsets and automotive, and QTL with $1.5 billion. Automotive revenues reached a record $598 million due to increased content in new vehicle launches. Returned $1.7 billion to shareholders via stock repurchases and dividends. Revenues from Chinese OEMs marked a 35% sequential growth, exceeding expectations. Business Progress: Snapdragon 8 Gen 3 established as the industry standard for on-device AI experiences in premium smartphones. Extended agreements with Samsung for Snapdragon platforms for flagship Galaxy smartphones, and with Apple until March 2027. 75 new vehicle models launched featuring Qualcomm’s tech, indicative of their growing role in the automotive sector. Prepares for launch of Snapdragon X Elite for next-gen
Qualcomm(QCOM.US) Q1 2024 Earnings Conference Read Post »
Alphabet, Inc. (NASDAQ:GOOGL) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/31/2024 21% Barclays $180 → $173 Maintains Overweight 01/29/2024 15.41% Keybanc $153 → $165 Maintains Overweight 01/19/2024 4.92% JMP Securities $140 → $150 Maintains Market Outperform 01/17/2024 18.91% Mizuho $155 → $170 Maintains Buy 01/09/2024 18.91% BMO Capital → $170 Initiates Coverage On → Outperform 12/07/2023 16.11% Roth MKM $152 → $166 Maintains Buy 11/21/2023 23.1% Tigress Financial $172 → $176 Maintains Strong Buy 11/16/2023 -9.77% Wells Fargo $126 → $129 Maintains Equal-Weight 10/25/2023 4.92% Piper Sandler $147 → $150 Maintains Overweight 10/25/2023 — Monness, Crespi, Hardt Downgrades Buy → Neutral 10/25/2023 8.41% RBC Capital → $155 Reiterates Outperform → Outperform 10/25/2023 6.32% Roth MKM $146 → $152 Maintains Buy 10/25/2023 -2.08% JMP Securities $138 → $140 Maintains Market Outperform 10/25/2023 11.91% Wedbush → $160 Reiterates Outperform → Outperform 10/25/2023 25.9%
Alphabet, Inc. (NASDAQ:GOOGL) Stock Analyst Ratings Read Post »
Microsoft (NASDAQ:MSFT) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/31/2024 17.86% Barclays $421 → $475 Maintains Overweight 01/29/2024 11.66% Wedbush → $450 Reiterates Outperform → Outperform 01/25/2024 12.9% Piper Sandler → $455 Reiterates Overweight → Overweight 01/23/2024 48.88% Truist Securities → $600 Reiterates Buy → Buy 01/18/2024 16.87% Exane BNP Paribas → $471 Upgrades Neutral → Outperform 01/12/2024 12.9% Piper Sandler → $455 Reiterates Overweight → Overweight 01/09/2024 4.21% BMO Capital $400 → $420 Maintains Outperform 01/02/2024 12.9% Piper Sandler $425 → $455 Maintains Overweight 12/28/2023 11.66% Wedbush $425 → $450 Maintains Outperform 12/15/2023 11.66% Mizuho $420 → $450 Maintains Buy 12/13/2023 48.88% Truist Securities → $600 Initiates Coverage On → Buy 12/05/2023 6.69% Argus Research $390 → $430 Maintains Buy 12/05/2023 15.63% China Renaissance → $466 Initiates Coverage On → Buy 11/29/2023 17.86% Tigress Financial $433 → $475 Maintains Buy
Microsoft (NASDAQ:MSFT) Stock Analyst Ratings Read Post »
Alphabet (GOOG, GOOGL) shares dropped early Wednesday after the Google parent’s core advertising business narrowly missed market estimates for the fourth quarter, overshadowing gains in other metrics of the company. Earnings came in at $1.64 a share for the December quarter, up from $1.05 the year before, the technology giant said late Tuesday That topped the Capital IQ-polled consensus of $1.60. Revenue advanced 13% to $86.31 billion, ahead of the Street’s view for $85.28 billion. Google advertising revenue increased to $65.52 billion from $59.04 billion in the 2022 quarter, but fell short of the $65.81 billion estimate on Visible Alpha. Shares of the company were down 5.7% in premarket trading. “We see continued upside for long-term advertising growth,” Chief Business Officer Philipp Schindler said on an earnings call, according to a Capital IQ transcript. “Advertising generates the bulk of our revenue, and we continue to invest heavily here.” Google Search
Skyworks Solutions, Inc. (NASDAQ:SWKS) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/31/2024 20.48% Rosenblatt → $130 Reiterates Buy → Buy 01/04/2024 -16.59% Piper Sandler → $90 Downgrades Overweight → Neutral 12/18/2023 15.85% Mizuho $108 → $125 Maintains Buy 11/03/2023 20.48% Rosenblatt $150 → $130 Maintains Buy 11/03/2023 -16.59% Piper Sandler $125 → $90 Maintains Overweight 11/03/2023 1.95% Susquehanna $115 → $110 Maintains Positive 11/03/2023 -11.96% Morgan Stanley $112 → $95 Maintains Equal-Weight 11/03/2023 11.21% Keybanc $130 → $120 Maintains Overweight 11/03/2023 — Summit Insights Group Downgrades Buy → Hold 10/24/2023 6.58% Susquehanna $130 → $115 Maintains Positive 10/10/2023 -19.37% Citigroup $116 → $87 Downgrades Neutral → Sell 09/20/2023 1.95% Exane BNP Paribas → $110 Downgrades Outperform → Neutral 09/14/2023 20.48% Keybanc → $130 Reiterates Overweight → Overweight 08/08/2023 15.85% Piper Sandler $107 → $125 Maintains Overweight 08/08/2023 20.48% Susquehanna $125 →
Skyworks Solutions, Inc. (NASDAQ:SWKS) Stock Analyst Ratings Read Post »
Rosenblatt analyst Kevin Cassidy reiterates Skyworks Solutions (NASDAQ:SWKS) with a Buy and maintains $130 price target.
Rosenblatt maintains Skyworks Solutions (NASDAQ:SWKS) $130 price target Read Post »
Meta Platforms (NASDAQ:META) is set to give its latest quarterly earnings report on Thursday, 2024-02-01. Here’s what investors need to know before the announcement. Analysts estimate that Meta Platforms will report an earnings per share (EPS) of $4.56. Meta Platforms bulls will hope to hear the company announce they’ve not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter. New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Meta Platforms’s Earnings Outlook Read Post »
Angela Palumbo Alphabet stock was dropping Wednesday after investors digested disappointing fourth-quarter advertising revenue, but analysts remained bullish on the company’s artificial-intelligence opportunities and valuation. Shares of Google parent Alphabet were falling 5.6% in premarket trading Wednesday to $142.93, while Nasdaq Composite futures are about 1% in the red. Even though the tech-giant posted fourth-quarter earnings and revenue that beat Wall Street expectations, advertising sales missed the consensus call. “Although GenAI tools across Search and Ads should be tailwinds to growth, 4Q results suggest Search growth likely continues to decelerate, despite a strengthening overall ad environment and we’ll be watching whether newer GenAI ad tools improve Google’s Search revenue trajectory, ” Citi analyst Ronald Josey wrote Wednesday. Josey increased his price target on the stock to $168 from $153, and maintained his Buy rating, “given improving trends across Google Cloud, YouTube, and subscriptions as the broader advertising environment continues to
Alphabet Stock’s a ‘Bargain’ in the Magnificent Seven, Says Analyst — Barrons.com Read Post »
By Emily Bary Capital-spending forecast suggests Microsoft ‘has line of sight to a significant increase in cloud revenue,’ Bernstein says Forget Microsoft Corp.’s expectation for Azure revenue growth this quarter that is similar to what was seen last quarter. There may have been a far more bullish hint in the company’s latest commentary about what to expect from the cloud business. Bernstein analyst Mark Moerdler told investors to look at Microsoft’s (MSFT) capital-expenditure forecast, which calls for such spending “to increase materially on a sequential basis” on the heels of investments in cloud and artificial-intelligence infrastructure. “We believe this indicates that management has line of sight to a significant increase in cloud revenue,” Moerdler wrote in his note to clients. “We also see this as an indicator that Microsoft has taken the AI mantle and Azure could become the biggest and more important hyperscaler provider.” Moerdler further believes that Microsoft’s
Microsoft Earnings May Have Offered a Big Bullish Clue About Cloud Growth Read Post »