Technology

Apple Expected To Get A Boost From AI-Driven iPhone Upgrades

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Apple is expected to get a boost to iPhone sales from the rise in artificial intelligence. Bank of America Securities analyst Wamsi Mohan says in a research note that a large share of the company’s current installed base uses older iPhone models, and those models will likely require upgrades in order to use AI enabled apps in coming years. Mohan raises his estimates for fiscal 2024, 2025 and 2026 iPhone sales off the back of this demand. He sees the company’s risk around legal issues as manageable and says “relative underperformance suggests many risks baked into expectations.” He upgrades shares to buy from neutral and lifts price target to $225 from $208. Shares rise 2.4% to $187.01.

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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: AAPL will start selling modified versions of the Apple Watch Series 9 and Ultra 2 that will remove the blood oxygen feature so that device sales can persist in the U.S. market. Although the removal of the sensor could make the device less attractive to some, it puts AAPL in compliance with a recent court ruling (pending appeal), alleviating a potential risk. Separately, AAPL’s biggest competitor, Samsung, officially announced its new popular Galaxy S24 line-up that looks to showcase greater on-device AI capabilities (e.g., real-time translation of calls/text messages, imperfect photo improvement, image and text search on the phone). We think this development could further motivate AAPL to unveil its own AI capabilities at its developer’s conference in June (both on-device and via iOS updates). Despite concerns

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4 Software Stocks to Buy and 3 to Sell, According to an Analyst — Barrons.com

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By Eric J. Savitz After software stocks’ broad rally in 2023, it’s time for investors to get pickier. The sector roared 58% higher last year — as measured by the closely watched i Shares Expanded Tech-Software Sector exchange-traded fund — driven by the mania over generative artificial intelligence, cost cuts, and hopes for lower interest rates. Of course, some of those trends are still in place: The AI trend is really just starting, and companies continue to trim staff and look for ways to improve profitability. But uneven demand conditions and the unclear timing of AI’s boost to profits mean the sector’s performance could be a bit more mixed in 2024. “Software stocks are no more expensive than a year ago, thanks to the ‘year of efficiency’ and new GenAI growth opportunities,” BNP Paribas analyst Stefan Slowinski wrote Thursday, in a long report on the software industry’s outlook. “The bad

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Microsoft’s Fiscal Q2 Seen Benefitting From Azure Strength, BofA Says

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Microsoft’s (MSFT) fiscal Q2 earnings are expected to benefit from the continued strength of Azure and M365, offset by weaker PC shipments, BofA Securities said in a note to clients Thursday. Microsoft is set to release its fiscal Q2 results after market close on Jan. 30. BofA said it expects an upside of 1% in constant currency to its Q2 revenue forecast of $60.9 billion, with currency anticipated to give a 2% point tailwind to Q2 growth compared with projections of 1% heading into the period. “Accelerating [average selling price] growth from M365 Copilot attach is likely to drive Office growth toward 20%,” BofA said. For Azure, the firm said it expects a 1% upside to its estimated growth of 26.5% in constant currency amid feedback suggesting “healthy continued migration of new workloads” and “sustaining adoption of the Microsoft security stack.” “In summary, we expect total revenue growth to accelerate

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TSMC’s Shares Rise Sharply After It Projects Strong Growth This Year

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By Kosaku Narioka Taiwan Semiconductor Manufacturing Co.’s shares rose sharply after the company projected strong revenue growth this year following a sales slump in 2023. The shares were recently 4.6% higher at 615.00 New Taiwan dollars after rising as much as 6.3% earlier Friday morning. TSMC Chief Executive C.C. Wei said Thursday following the announcement of fourth-quarter results that revenue is poised to rise more than 20% in U.S. dollar terms this year. Wei named artificial intelligence as the company’s growth driver, saying AI-related revenue is expected to account for nearly one-fifth of the company’s total revenue within a few years. Revenue dropped 8.7% in 2023 to US$69.30 billion. The chip maker has been facing a sales slump as clients cut back on their inventory following a pandemic-driven surge in demand for chips used in electronics equipment. TSMC said net profit dropped 19% from a year earlier to 238.71 billion

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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 increase our 12-month target price to $430 from $390, on a P/E of 20.8x our 2025 EPS view, near META’s five-year historical forward average. We keep our 2024 EPS estimate at $17.52 and 2025’s at $20.69. Ahead of Dec-Q results set for 2/1, we project ad revenue grew 20%-21% in Q4 and see mid-teens growth for 2024. Greater traction from China vendors, easy comps in the 1H, as well as a very important 2024 election and the Summer Olympics, are all reasons that 2024 could be another good year for digital ad spend. Although we expect META’s growth trajectory to decelerate as we progress through 2024, we think its attractive valuation, coupled with healthy digital ad market and AI prospects, offer a compelling investment opportunity (despite

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Texas Instruments (NASDAQ:TXN) Stock Analyst Ratings

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Texas Instruments (NASDAQ:TXN) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/19/2024 14.07% UBS $170 → $195 Upgrades Neutral → Buy 01/16/2024 -6.41% Barclays $165 → $160 Maintains Equal-Weight 12/14/2023 -9.92% Truist Securities $150 → $154 Maintains Hold 11/15/2023 22.84% Benchmark → $210 Reiterates Buy → Buy 10/25/2023 -6.41% B of A Securities → $160 Maintains Neutral 10/25/2023 -6.41% Stifel $180 → $160 Maintains Hold 10/25/2023 14.07% BMO Capital → $195 Maintains Outperform 10/25/2023 -23.95% Baird $180 → $130 Maintains Neutral 10/25/2023 -16.93% Citigroup $182 → $142 Maintains Neutral 10/25/2023 -0.56% JP Morgan $200 → $170 Maintains Overweight 10/25/2023 -12.26% Truist Securities $165 → $150 Maintains Hold 10/25/2023 -6.41% Mizuho $181 → $160 Maintains Neutral 10/25/2023 5.29% Susquehanna $185 → $180 Maintains Positive 10/25/2023 -3.48% Barclays $175 → $165 Maintains Equal-Weight 10/25/2023 22.84% Benchmark → $210 Reiterates Buy → Buy 10/25/2023 -19.86%

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Broadcom (NASDAQ:AVGO) Stock Analyst Ratings

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Broadcom (NASDAQ:AVGO) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/19/2024 14.32% Goldman Sachs → $1325 Reinstates → Buy 12/11/2023 -5.09% Citigroup → $1100 Reinstates → Buy 12/08/2023 -12.42% Truist Securities $995 → $1015 Maintains Buy 12/08/2023 -13.72% TD Cowen $900 → $1000 Maintains Market Perform 12/08/2023 0.09% Rosenblatt $1000 → $1160 Maintains Buy 12/08/2023 — Summit Insights Group Upgrades Hold → Buy 12/04/2023 -13.72% Rosenblatt → $1000 Reiterates Buy → Buy 12/04/2023 -5.09% Oppenheimer $990 → $1100 Maintains Outperform 11/28/2023 -5.09% Susquehanna $1010 → $1100 Maintains Positive 11/24/2023 3.54% Keybanc $1000 → $1200 Maintains Overweight 09/22/2023 -14.15% Truist Securities → $995 Reiterates Buy → Buy 09/21/2023 -14.15% Truist Securities → $995 Reiterates Buy → Buy 09/18/2023 -12.86% Susquehanna → $1010 Reiterates Positive → Positive 09/14/2023 -13.72% Keybanc → $1000 Reiterates Overweight → Overweight 09/08/2023 -14.15% Truist Securities $942 → $995 Maintains

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IBM (NYSE:IBM) Stock Analyst Ratings

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IBM (NYSE:IBM) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/19/2024 17.42% Evercore ISI Group $165 → $200 Upgrades In-Line → Outperform 01/05/2024 5.68% Jefferies → $180 Initiates Coverage On → Hold 01/05/2024 -16.05% Societe Generale → $143 Downgrades Hold → Sell 11/13/2023 -17.81% Wedbush → $140 Reiterates Neutral → Neutral 10/26/2023 5.09% RBC Capital $188 → $179 Maintains Outperform 10/26/2023 -9% BMO Capital $152 → $155 Maintains Market Perform 10/26/2023 -17.81% Wedbush → $140 Reiterates Neutral → Neutral 10/17/2023 -23.68% Morgan Stanley $135 → $130 Maintains Equal-Weight 09/20/2023 10.37% RBC Capital → $188 Initiates Coverage On → Outperform 07/20/2023 -6.06% B of A Securities $152 → $160 Maintains Buy 07/20/2023 -15.46% Stifel $140 → $144 Maintains Buy 07/20/2023 -20.74% Morgan Stanley $135 → $135 Reiterates Equal-Weight → Equal-Weight 07/20/2023 -17.81% Wedbush → $140 Reiterates Neutral → Neutral 07/20/2023 -10.76% BMO Capital

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