Goldman Sachs analyst Michael Ng maintains Dell Technologies (NYSE:DELL) with a Buy and raises the price target from $87 to $129.
Goldman Sachs analyst maintains Dell Technologies (NYSE:DELL) with a Buy Read Post »
Microsoft-backed (MSFT) OpenAI continues to be the “uncontested leader” in artificial intelligence despite the cases filed against it by Tesla (TSLA) Chief Executive Elon Musk and The New York Times (NYT), Macquarie said in a note emailed on Monday. Musk is seeking the removal of GPT-4 from the scope of Microsoft’s intellectual property licensing agreement with OpenAI, while The New York Times sued OpenAI for copyright infringement. “But, regardless of these cases, we have seen the performance gap between GPT-4 and other models narrow, but certainly not close, throughout 2023,” the note said. Macquarie said Microsoft’s Copilot product roadmap would likely be set back if GPT-4 becomes inaccessible to the company because of any of those cases. “But we do not think it would derail its AI product initiatives by any means,” Macquarie said. Macquarie maintained its outperform rating and $455 price target on Microsoft stock.
DoorDash (DASH) has the potential to stabilize profitability with entry in new verticals and international markets, RBC Capital Markets said in a note Monday. DoorDash’s new verticals and international segment may have peaked at losses of around $1.3 billion annually, RBC added. The firm expects that while the company’s core business investment may be minimal, new vertical losses are unlikely to increase year-over-year. The investment firm said it previously underestimated the company’s order growth resilience primarily because of the frequency “which should continue to be a multi-year mid-to-high-teens grower.” DoorDash’s potential partnerships, particularly with LYFT (LYFT), could drive significant incremental orders and enhance its loyalty program, according to the note. The firm said consumer concerns and slow expansion into non-restaurant verticals remain a risk to the company’s growth with low likelihood and potential for upward estimate revisions. RBC raised DoorDash’s stock rating to outperform from sector perform and increased the
DoorDash Close in on Profitability With New Ventures, International Market, RBC Says Read Post »
Nvidia’s vision as a platform company makes its focus different from companies focusing on silicon or a specific chip for a certain workload, CFO Colette Kress says. The chip company finance chief, speaking at a Morgan Stanley conference, says a platform company is able to deliver any form of data center computing that may be needed in the future. “Our focus [is] to make sure at every data center level all of the different components we may be able to provide them, whether it would be the computing infrastructure, the networking infrastructure, the overall memory part of it, just overall full supercomputer we can put together,” Kress says. Shares rise 3.6% to $852.51, extending a run that has vaulted Nvidia into one of the most valuable companies.
Nvidia Envisions Delivering Any Form of Data Center Computing Read Post »
Former head of Oak Ridge National Laboratory to accelerate adoption of AMD technologies for sovereign AI deployments benefiting citizens around the world SANTA CLARA, Calif., March 04, 2024 (GLOBE NEWSWIRE) — Today AMD (NASDAQ: AMD) announced that Thomas Zacharia has joined AMD as senior vice president of strategic technology partnerships and public policy. Zacharia will lead the global expansion of AMD public/private relationships with governments, non-governmental organizations (NGOs) and other organizations to help fast-track the deployment of customized AMD-powered AI solutions to meet rapidly growing number of global projects and applications targeting the deployment of AI for the public good. “Thomas is a distinguished leader with decades of experience successfully creating public/private partnerships that have resulted in consistently deploying the world’s most powerful and advanced computing solutions, including the world’s fastest supercomputer Frontier,” said AMD Chair and CEO Lisa Su. “As the former Director of the U.S.’s largest multi-program science
AMD Hires Thomas Zacharia to Expand Strategic AI Relationships Read Post »
Rosenblatt analyst Barton Crockett reiterates Apple with a Neutral and maintains $189 price target.
Rosenblatt analyst reiterates Apple with a Neutral Read Post »
CrowdStrike Holdings (NASDAQ:CRWD) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 03/05/2024 12.97% Wedbush $278 → $350 Maintains Outperform 03/04/2024 12.97% Needham $325 → $350 Maintains Buy 03/04/2024 22.65% Wells Fargo $315 → $380 Maintains Overweight 02/29/2024 12.97% JP Morgan $300 → $350 Maintains Overweight 02/28/2024 9.74% Barclays $300 → $340 Maintains Overweight 02/21/2024 15.55% Guggenheim $274 → $358 Maintains Buy 02/21/2024 19.43% Goldman Sachs $222 → $370 Maintains Buy 02/20/2024 12.97% Truist Securities $290 → $350 Maintains Buy 02/20/2024 21.04% Rosenblatt $315 → $375 Maintains Buy 02/14/2024 21.04% Keybanc $318 → $375 Maintains Overweight 02/13/2024 16.2% Cantor Fitzgerald → $360 Reiterates Overweight → Overweight 02/12/2024 16.2% Cantor Fitzgerald $240 → $360 Maintains Overweight 02/02/2024 -22.53% Cantor Fitzgerald → $240 Reiterates Overweight → Overweight 01/31/2024 6.52% JMP Securities → $330 Reiterates Market Outperform → Market Outperform 01/30/2024 6.52% Raymond James → $330
CrowdStrike Holdings (NASDAQ:CRWD) Stock Analyst Ratings Read Post »
By Dan Gallagher Apple has finally parked its expensive car dreams. The timing is good, as its other ambitions require a lot of gas in the tank. Apple took the formal step recently of telling employees on its car project — dubbed Project Titan — that it is shutting down the program and redirecting its efforts toward generative artificial intelligence, The Wall Street Journal reports. Neither are terribly surprising moves. The car effort has been under way for at least a decade with various starts and stops but ultimately made little sense for a company with no experience in producing any form of vehicle — and powerful reasons to avoid such a low-margin business. Generative AI, meanwhile, is the hottest thing going in tech. It is now the prime focus of Apple’s big-tech competitors and has turned chip maker Nvidia into the third most valuable U.S. company — behind Apple
Apple Is Playing an Expensive Game of AI Catch-Up — Heard on the Street — WSJ Read Post »
CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We lift our 12-month target to $140 from $81 on a P/E of 16.3x our FY 26 (Jan.) EPS view, above its three-year historical forward average, reflecting a PC market rebound. We up our FY 25 EPS view to $7.61 from $7.16 and set FY 26’s at $8.60. DELL posted Q4 EPS of $2.20 vs. $1.80, a $0.48 consensus beat. Sales fell 11%, better than feared, with a 12% decline from Client Solutions (commercial -11%, consumer -19%), and a 6% decline from Infrastructure Solutions (servers/network -2%, storage -10%), on lower PC unit sales, partly offset by higher average selling prices. AI-optimized server orders were +40% Q/Q and the AI backlog exited FY 24 at $2.9B, highlighting long-term potential. We see DELL benefiting from AI tailwinds and improving
CFRA Maintains Buy Recommendation On Shares Of Dell Technologies Inc. Read Post »
By Angela Palumbo Apple stock has fallen nearly 8% this year and a move by Goldman Sachs to remove the tech giant from its “Conviction List” on Friday has only sent the shares lower. Goldman Sachs analysts removed Apple from the U.S. Conviction List on Friday after the stock spent 274 days there. The list includes between 20 and 25 “of what we believe to be our most differentiated fundamental Buy ideas across our U.S. stock coverage,” the firm said. Shares of Apple were down 1.5% Friday to $178.01. Goldman Sachs didn’t clarify the exact reasoning for removing Apple from the list. In the research note, the firm said there are many reasons a stock could get removed, including a rating downgrade, price realization, the passage of catalysts, or the subcommittee believing there are better opportunities elsewhere. Apple has been lagging its peers this year in the Magnificent 7 —
The application of “intelligent edge” to industrial processes will have a positive impact on energy efficiency and environmental sustainability, Martin Cotter, Analog Devices’ (ADI) president of Europe, the Middle East and Africa, said at the Mobile World Congress in Barcelona. “Edge” is a term used in technology to describe where data is generated such as a smartphone, a robot in a factory or sensory technology in a hospital. Adding cloud capabilities to the site where data is generated is called “intelligent edge.” “Transformation of industry through digitalization of factories and buildings is going to have such a big impact on sustainability,” Cotter said. “The need to drive more efficiency on every Joule of energy is critical. Everybody talks about energy. So, therefore, having smarter edge is one way to really deliver on that efficiency.” Industrial output increased about 90 times from 1820 to 2020, but that came at a cost:
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 $1,500 from $1,100 on a higher revised P/E of 26.4x our CY 25 EPS view, above historical given increasing exposure to recurring software and EPS upside. We keep our FY 24 (Oct.) EPS at $49.16 and FY 25’s at $56.90. Ahead of Jan-Q results set for March 7 after the close, we see upside to Jan-Q and FY 24 margin/revenue expectations. On the semi side, we see greater AI contribution following commentary from peers/customers, on higher Ethernet and custom AI demand (20% of semi sales in Oct-Q). We like VMware prospects (60% of software sales), as we think it will allow software growth to accelerate in the coming quarters/years, with it focusing on growing VMware Cloud Foundation and becoming mostly subscription-based
CFRA Maintains Buy Opinion On Shares Of Broadcom Inc. Read Post »