Texas Instruments (TXN) shares were up more than 4% in recent Friday trading after UBS upgraded the company’s rating to buy from neutral and raised its price target to $195 from $170. Trading volume was about 6.1 million shares against a daily average of around 5.7 million shares.
Texas Instruments Shares Rise After UBS Upgrade Read Post »
By Isabelle Bousquette Moves by Broadcom to shore up its $69 billion VMware acquisition, completed in November, include a streamlining of product bundles and new billing models — efforts in line with the chip giant’s past acquisitions, but not necessarily welcomed by all of VMware’s customers. Broadcom made its name by acquiring makers of a host of unsexy-but-essential microchips components, then cutting costs and leveraging the company’s growing pricing power. With the VMware acquisition, its largest, the San Jose, Calif.-based company is turning some of those tactics to enterprise software. In recent months, Broadcom’s VMware Cloud Foundation division, responsible for the company’s flagship infrastructure software, shaved its offerings from nearly 1,000 to just two bundles, and ended perpetual license sales, one-time payments for indefinite use of software, in favor of a full subscription payment model, the company confirmed. Broadcom has also recently laid off at least hundreds of VMware workers,
Broadcom’s VMware Overhaul Draws Attention of CIOs — WSJ Read Post »
Eric J. Savitz Apple on Friday began taking pre-orders for the Vision Pro, the company’s new mixed-reality headset, which starts shipping to buyers on Feb. 2. On some social-media platforms, fanboys posted that they were so excited about the new device, and so worried about a perceived limited supply of the new product, that they set alarms (no doubt on their iPhones and Apple Watches) to get up by the 5 a.m. Pacific time launch to stand in a virtual line to get one. Expect the first real indications of early demand to come one day before the shipments start — Apple will report December quarter financial results after the stock market closes on Feb. 1. But it looks like the Apple fanatics really could have slept in. Evercore ISI analyst Amit Daryanani wrote in a brief research note Friday that “initial signs” point to strong demand for the device.
Apple Vision Pro Presale Started Today. Early Demand Signs Are Unclear. — Barrons.com Read Post »
DoorDash (NASDAQ:DASH) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/17/2024 36.61% Mizuho $120 → $140 Maintains Buy 01/09/2024 17.09% BMO Capital → $120 Initiates Coverage On → Outperform 01/08/2024 26.85% Jefferies $90 → $130 Upgrades Hold → Buy 11/16/2023 21.97% Deutsche Bank → $125 Initiates Coverage On → Buy 11/15/2023 2.46% Needham → $105 Reiterates Buy → Buy 11/03/2023 10.26% JMP Securities $100 → $113 Maintains Market Outperform 11/03/2023 26.85% Truist Securities $125 → $130 Maintains Buy 11/02/2023 -6.32% JP Morgan $95 → $96 Maintains Neutral 11/02/2023 -50.23% Piper Sandler $47 → $51 Maintains Underweight 11/02/2023 -7.3% Barclays $90 → $95 Maintains Equal-Weight 11/02/2023 -10.23% Wedbush $85 → $92 Maintains Neutral 10/24/2023 — Seaport Global Initiates Coverage On → Neutral 09/21/2023 -2.42% JMP Securities → $100 Reiterates Market Outperform → Market Outperform 09/18/2023 2.46% Mizuho $90 → $105 Upgrades Neutral →
DoorDash (NASDAQ:DASH) Stock Analyst Ratings Read Post »
Mizuho Securities analyst James Lee raised the price target of DoorDash Inc (NASDAQ:DASH) to $140 (from $120) with a reiterated Buy rating (Top Pick). In 2024, the analyst projects moderated inflation and a tight labor market in the U.S. to support resilient consumer spending, with sectors such as advertising, e-commerce, and gig economy services witnessing share gain and margin expansion. In China, the analyst looks for consumer spending to remain subdued despite having a record high savings rate due to ongoing real-estate issues and rising unemployment. For DASH, the analyst expects continued GOV growth and share gains from favorable unit economics of rational competition, higher labor supply, and increased network density. Also, Lee projects continued margin expansion from lower dasher/customer acquisition costs and disciplined fixed-cost spending. Consequently, the analyst expects EBITDA growth of 20% in FY24, led by share gains in both food and grocery delivery. Also, the analyst writes that the optionality in
Nvidia looks like a long-term winner with accelerated computing that can grow at 20% CAGR off of 2022 revenue, but in the two weeks since he initiated coverage of the company with a neutral rating, DA Davidson analyst Gil Luria hasn’t heard anything that will shift his view that consensus estimates and expectations for the company’s 2025 and beyond are too high. He believes a meaningful part of Nvidia ownership currently represents portfolio benchmark risk mitigation, and that investors who previously missed out on gains won’t be keen to fight uphill for shares again.
Long-Term Nvidia Expectations Still Too High for Neutral Analyst Read Post »
Uber Technologies (UBER) is working with Tesla (TSLA) to promote the use of electric vehicles among its drivers, Axios and Reuters reported Tuesday. As part of its efforts to become emission-free in the US and Canada by 2030, Uber is offering up to $2,000 in incentives to drivers for the purchase of a Tesla Model 3 or Y, the reports said. Uber has started sharing data with Tesla on where charging infrastructure is needed the most, according to the reports. Uber and Tesla are working to address cost of ownership and access to charging, which are the top two reasons why Uber drivers don’t go electric, the reports said, citing Andrew Macdonald, Uber’s senior vice president of mobility and business operations. Neither Uber nor Tesla immediately responded to requests for comment from MT Newswires.
Uber Reportedly Working With Tesla to Promote Use of Electric Vehicles Among Drivers Read Post »
Google is downsizing its advertising sales team, part of a broader trend of job cuts at the tech giant owned by Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL). This decision highlights the ongoing reduction in workforce across various sectors, as companies increasingly turn to artificial intelligence software and automation to manage tasks more efficiently, Reuters reports. Recently, Google announced layoffs in its Voice Assistant units and hardware teams, including those responsible for Pixel, Nest, and Fitbit products, as well as in its augmented reality division. The company focuses on its customer solutions unit, which caters to medium-level advertiser clients, as a primary area for future growth. This move follows similar layoffs at Amazon.com Inc (NASDAQ:AMZN), which included several hundred employees in streaming and studio operations, and 500 workers at Twitch, its video streaming platform. Previous reports indicated that Google is looking to reorganize its large ad sales unit, which employs around 30,000 people. Sean Downey, who leads ad
Google Announces Major Job Cuts in Ad Sales, Shifts Focus to AI and Automation Read Post »
Meta Platforms (NASDAQ:META) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/17/2024 14.6% Piper Sandler $355 → $415 Maintains Overweight 01/11/2024 29.79% Mizuho $400 → $470 Maintains Buy 01/10/2024 29.79% Mizuho $400 → $470 Maintains Buy 01/09/2024 9.63% BMO Capital → $397 Initiates Coverage On → Market Perform 12/27/2023 15.98% Wedbush $350 → $420 Maintains Outperform 11/22/2023 20.13% Tigress Financial $380 → $435 Maintains Strong Buy 11/14/2023 11.84% Stifel → $405 Reiterates Buy → Buy 10/26/2023 11.84% Truist Securities $390 → $405 Maintains Buy 10/26/2023 10.46% RBC Capital → $400 Reiterates Outperform → Outperform 10/26/2023 -1.97% Piper Sandler $365 → $355 Maintains Overweight 10/26/2023 -3.35% Wedbush → $350 Reiterates Outperform → Outperform 10/26/2023 0.8% Roth MKM $360 → $365 Maintains Buy 10/26/2023 4.94% Wells Fargo $372 → $380 Maintains Overweight 10/26/2023 10.46% Barclays $410 → $400 Maintains Overweight 10/26/2023 13.5% Rosenblatt $372
Meta Platforms (NASDAQ:META) Stock Analyst Ratings Read Post »
Taiwan Semiconductor Manufacturing Co. is scheduled to report fourth-quarter results on Thursday. Here is what you need to know: NET PROFIT: TSMC is expected to post a 24% drop in net profit to 224.67 billion new Taiwan dollars (US$7.14 billion) for the quarter ended Dec. 31, according to a poll of analysts by S&P Global Market Intelligence. That compares with NT$295.90 billion in net profit a year earlier. REVENUE: Fourth-quarter revenue was at NT$625.53 billion, based on the sum of monthly revenue disclosed by the company. The stock has fallen 2.2% so far in 2024 through Tuesday, following a 13% rise in the final quarter of last year. Shares closed at NT$580.00 on Tuesday. WHAT TO WATCH: –TSMC is expected to offer earnings guidance for the first quarter, in addition to its results for the fourth quarter of 2023. Investors are closely watching for any signs of a recovery from
TSMC Expected to Post 24% Drop in Fourth-Quarter Net Profit — Earnings Preview Read Post »
MongoDB, Inc. (NASDAQ: MDB) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/17/2024 21.94% Needham → $495 Reiterates Buy → Buy 01/04/2024 1% UBS $475 → $410 Downgrades Buy → Neutral 12/06/2023 3.46% Mizuho $330 → $420 Maintains Neutral 12/06/2023 17.01% RBC Capital $445 → $475 Maintains Outperform 12/06/2023 17.75% Barclays $470 → $478 Maintains Overweight 12/06/2023 21.94% Needham $445 → $495 Maintains Buy 12/06/2023 23.17% Piper Sandler $425 → $500 Maintains Overweight 12/04/2023 10.85% Stifel → $450 Reiterates Buy → Buy 11/16/2023 23.17% Wells Fargo → $500 Initiates Coverage On → Overweight 11/13/2023 5.92% Truist Securities → $430 Reiterates Buy → Buy 11/08/2023 5.19% Capital One → $427 Upgrades Equal-Weight → Overweight 10/23/2023 8.39% Keybanc $495 → $440 Maintains Overweight 10/12/2023 10.85% B of A Securities → $450 Initiates Coverage On → Buy 10/10/2023 -17.48% Scotiabank → $335 Initiates Coverage On
MongoDB, Inc. (NASDAQ: MDB) Stock Analyst Ratings Read Post »
PALO ALTO, Calif., Jan. 17, 2024 (GLOBE NEWSWIRE) — Broadcom End-User Computing Division today announced that global market research firm Forrester has named its offering (formerly of VMware) a leader in The Forrester Wave: Unified Endpoint Management, Q4 2023. Workspace ONE was named a leader when evaluated among nine unified endpoint management (UEM) vendors. According to the Forrester report, “VMware continues to balance DEX, management, and security exceptionally well.” Broadcom established the End-User Computing Division following its recent acquisition of VMware, Inc. “We continue to bring groundbreaking innovations to the Workspace ONE DEX solution to provide the most comprehensive Anywhere Workspace platform that enables customers to support the increasing complexities of hybrid work,” said Shankar Iyer, senior vice president and general manager, End-User Computing Division, Broadcom. “We are thrilled to be named a leader in The Forrester Wave. To us, this recognition validates our vision and commitment to enable our customers
Broadcom Named a Leader in Unified Endpoint Management by Global Analyst Firm Read Post »