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 »
MSCI (NYSE:MSCI) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/31/2024 18.44% Barclays $600 → $700 Maintains Overweight 01/08/2024 1.69% Oppenheimer $572 → $601 Maintains Outperform 01/05/2024 — Raymond James Downgrades Outperform → Market Perform 12/13/2023 1.52% Morgan Stanley $526 → $600 Upgrades Equal-Weight → Overweight 11/01/2023 -3.55% RBC Capital → $570 Reiterates Outperform → Outperform 11/01/2023 1.52% Barclays $650 → $600 Maintains Overweight 11/01/2023 -11% Morgan Stanley $532 → $526 Maintains Equal-Weight 11/01/2023 -9.82% Raymond James $577 → $533 Maintains Outperform 10/18/2023 1.52% JP Morgan $610 → $600 Maintains Overweight 10/05/2023 3.72% Oppenheimer $620 → $613 Maintains Outperform 09/14/2023 -6.26% Redburn Partners → $554 Downgrades Buy → Neutral 07/27/2023 -1.52% Goldman Sachs $510 → $582 Maintains Neutral 07/26/2023 -9.98% Morgan Stanley $515 → $532 Maintains Equal-Weight 07/26/2023 -7.78% RBC Capital → $545 Reiterates Outperform → Outperform 07/26/2023 8.29% Wells Fargo $570
MSCI (NYSE:MSCI) Stock Analyst Ratings Read Post »
Barclays analyst Manav Patnaik maintains MSCI (NYSE:MSCI) with a Overweight and raises the price target from $600 to $700.
Barclays raises MSCI (NYSE:MSCI) price target from $600 to $700 Read Post »
Starbucks (NASDAQ:SBUX) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/31/2024 15.51% Barclays $116 → $112 Maintains Overweight 01/19/2024 3.14% Piper Sandler $107 → $100 Maintains Neutral 01/18/2024 -2.02% Wedbush $100 → $95 Maintains Neutral 01/16/2024 — Gordon Haskett Downgrades Buy → Hold 01/16/2024 23.76% Morgan Stanley $112 → $120 Upgrades Equal-Weight → Overweight 12/20/2023 10.35% HSBC → $107 Initiates Coverage On → Hold 11/06/2023 9.32% Wedbush $100 → $106 Maintains Neutral 10/23/2023 19.64% Barclays $123 → $116 Maintains Overweight 10/19/2023 21.7% Deutsche Bank → $118 Initiates Coverage On → Buy 10/12/2023 3.14% UBS $110 → $100 Maintains Neutral 10/11/2023 5.2% Morgan Stanley $104 → $102 Maintains Equal-Weight 10/05/2023 3.14% Citigroup $104 → $100 Maintains Neutral 09/25/2023 7.26% Citigroup $112 → $104 Maintains Neutral 09/22/2023 10.35% TD Cowen → $107 Reiterates Market Perform → Market Perform 09/20/2023 10.35% TD Cowen → $107
Starbucks (NASDAQ:SBUX) Stock Analyst Ratings Read Post »
Barclays analyst Jeffrey Bernstein maintains Starbucks (NASDAQ:SBUX) with a Overweight and lowers the price target from $116 to $112.
Barclays lowers Starbucks (NASDAQ:SBUX) price target from $116 to $112 Read Post »
United Parcel Service (NYSE:UPS) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/31/2024 0.35% Barclays $150 → $145 Maintains Equal-Weight 01/16/2024 28.03% Raymond James $170 → $185 Maintains Strong Buy 01/10/2024 31.49% Stifel $180 → $190 Maintains Buy 12/26/2023 7.27% Daiwa Capital → $155 Downgrades Outperform → Neutral 12/21/2023 7.96% JP Morgan $165 → $156 Maintains Neutral 10/11/2023 23.18% JP Morgan $186 → $178 Maintains Neutral 10/02/2023 10.73% Susquehanna $173 → $160 Maintains Neutral 09/29/2023 38.41% Raymond James $205 → $200 Maintains Strong Buy 09/29/2023 17.65% HSBC → $170 Initiates Coverage On → Hold 09/28/2023 21.11% Barclays $180 → $175 Maintains Equal-Weight 09/18/2023 27.34% Oppenheimer $195 → $184 Maintains Outperform 09/14/2023 28.03% TD Cowen $190 → $185 Maintains Market Perform 09/12/2023 22.49% B of A Securities $190 → $177 Maintains Neutral 09/12/2023 23.88% Evercore ISI Group $185 → $179 Maintains In-Line 09/12/2023
United Parcel Service (NYSE:UPS) Stock Analyst Ratings Read Post »
Barclays analyst Brandon Oglenski maintains United Parcel Service (NYSE:UPS) with a Equal-Weight and lowers the price target from $150 to $145.
Barclays lowers United Parcel Service (NYSE:UPS) price target from $150 to $145 Read Post »