AMD Forecasts Shaky First-Quarter Sales Despite AI Boom — WSJ

/ / Technology /

By Asa Fitch Advanced Micro Devices projected lower-than-expected revenue in the first quarter, citing weakness in some of its core markets even as sales of artificial-intelligence chips grow. AMD expects around $5.4 billion of sales in the current quarter, the company said, up from $5.35 billion the same period last year but behind Wall Street forecasts, according to FactSet. AMD’s stock fell 2% in after-hours trading. The shares have more than doubled over the past 12 months. In addition to weaker sales of PC and videogaming chips, AMD said it was seeing a seasonal decline in sales of computer servers where its chips feature. That was being offset, however, by growing interest in the company’s chips for artificial intelligence calculations, AMD said. AMD is the nearest rival to Nvidia in AI chips needed to create advanced systems like OpenAI’s ChatGPT. Booming investment in AI has been a bonanza Nvidia, which […]

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AMD’s Q4 Non-GAAP Earnings, Revenue Rise

/ / Technology /

AMD (AMD) reported Q4 non-GAAP earnings Tuesday of $0.77 per diluted share, up from $0.69 a year earlier. Analysts surveyed by Capital IQ expected $0.77. Revenue for the quarter ended Dec. 30 was $6.17 billion, up from $5.60 billion a year earlier. Analysts surveyed by Capital IQ expected $6.14 billion. The company said it expects Q1 2024 revenue of about $5.4 billion, plus or minus $300 million. Analysts surveyed by Capital IQ expect $5.75 billion.

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Boeing’s Earnings Are Coming. Investors Are Watching for Almost Everything. — Barrons.com

/ / Industrials /

The 737 MAX jet, production quality, new regulatory oversight, the commercial aerospace recovery, new jet approvals, and defense- business profit margins are all areas of interest. All that means it should be interesting when Boeing reports its fourth-quarter numbers on Wednesday morning. For the quarter, Wall Street is looking for a per-share loss of about 76 cents from sales of $21.1 billion, according to Bloomberg. A year ago, Boeing lost $1.75 a share from about $20 billion in sales. Boeing’s commercial airplane business continues to lose money as it continues to recover from the COVID-19 pandemic and the worldwide MAX grounding that lasted from March 2019 to November 2020. Boeing delivered 157 aircraft in the fourth quarter, including 107 MAX jets, compared with 152 jets, including 107 MAXes, in the fourth quarter of 2022. For the full year, Boeing delivered 528 planes, including 387 MAX jets, up from 480 planes,

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Starbucks Sales Lose Steam As U.S., Chinese Competitors Offer Discounts

/ / Consumer Discretionary /

By Heather Haddon Starbucks’s sales are slowing — and it is fighting back by giving customers deals. The world’s largest coffee chain said it is battling challenges in the U.S. and China, as competition from rivals offering promotions grew in recent months and customers reduced visits. Starbucks Tuesday reduced its full-year forecast for revenue and same-store sales growth, saying January sales were softer than expected and that improvements will take time. The company maintained its earnings growth outlook for the year. Chief Executive Laxman Narasimhan said on a Tuesday investor call that lower sales in its Middle East stores hurt its performance. Occasional U.S. Starbucks customers also purchased beverages less frequently in the afternoon during the quarter, cutting into sales. “There was an impact in the quarter, and it will take some time to normalize,” Narasimhan said. Starbucks reported that over the three months ended Dec. 31, its global same-store

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Skyworks Solutions(SWKS.US) Q1 2024 Earnings Call Transcript Summary

/ / Technology /

The following is a summary of the Skyworks Solutions, Inc. (SWKS) Q1 2024 Earnings Call Transcript: Financial Performance: Skyworks reported Q1 2024 revenue of $1.202 billion, slightly above the outlook, and earnings per share of $1.97. The company generated $775 million of operating cash flow and a record free cash flow of $753 million, reflecting a 63% free cash flow margin. Gross profit stood at $557 million, with a gross margin of 46.4%. The company achieved an operating income of $366 million, with an operating margin at 30.4%. The net income was reported as $317 million, and internal inventory was reduced by $193 million to $927 million. With over $1 billion in cash and investments and $1 billion in debt, the company maintains strong financial health. The Q2 2024 revenue outlook stands between $1.020 billion and $1.070 billion with a projected gross margin in the range of 45% to 46%.

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Apple (NASDAQ:AAPL) Stock Analyst Ratings

/ / Technology /

Apple (NASDAQ:AAPL) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/30/2024 32.66% Wedbush → $250 Reiterates Outperform → Outperform 01/18/2024 19.4% B of A Securities $208 → $225 Upgrades Neutral → Buy 01/10/2024 6.13% Redburn Atlantic → $200 Downgrades Buy → Neutral 01/04/2024 8.78% Piper Sandler $220 → $205 Downgrades Overweight → Neutral 01/03/2024 -11.91% DA Davidson → $166 Initiates Coverage On → Neutral 01/02/2024 -15.1% Barclays $161 → $160 Downgrades Equal-Weight → Underweight 12/20/2023 32.66% Wedbush → $250 Reiterates Outperform → Outperform 12/11/2023 32.66% Wedbush $240 → $250 Maintains Outperform 12/08/2023 16.74% Morgan Stanley $210 → $220 Maintains Overweight 11/24/2023 27.35% Wedbush $240 → $240 Reiterates Outperform → Outperform 11/16/2023 27.35% Tigress Financial $225 → $240 Maintains Strong Buy 11/03/2023 0.29% Rosenblatt $198 → $189 Maintains Neutral 11/03/2023 27.35% Wedbush → $240 Reiterates Outperform → Outperform 11/03/2023 11.44% Morgan Stanley $210

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RTX (NYSE:RTX) Stock Analyst Ratings

/ / Industrials /

RTX (NYSE:RTX) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/30/2024 0% Barclays $75 → $90 Maintains Equal-Weight 01/25/2024 11.11% B of A Securities $78 → $100 Upgrades Underperform → Neutral 01/24/2024 -2.22% RBC Capital → $88 Reiterates Sector Perform → Sector Perform 01/24/2024 6.67% UBS $93 → $96 Maintains Neutral 01/16/2024 4.44% Baird $88 → $94 Downgrades Outperform → Neutral 11/15/2023 — Redburn Atlantic Downgrades Buy → Neutral 10/25/2023 -4.44% Morgan Stanley $83 → $86 Maintains Equal-Weight 10/11/2023 -11.11% UBS $110 → $80 Downgrades Buy → Neutral 09/29/2023 -10% Alembic Global → $81 Initiates Coverage On → Neutral 09/25/2023 -8.89% RBC Capital → $82 Reiterates Sector Perform → Sector Perform 09/25/2023 -7.78% Morgan Stanley $95 → $83 Maintains Equal-Weight 09/18/2023 -13.33% Wells Fargo $100 → $78 Maintains Equal-Weight 09/14/2023 -12.22% DZ Bank → $79 Downgrades Buy → Hold 09/14/2023 -16.67% B

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Accenture (NYSE:ACN) Stock Analyst Ratings

/ / Industrials /

Accenture (NYSE:ACN) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/30/2024 14.03% Mizuho → $426 Initiates Coverage On → Buy 01/25/2024 7.07% UBS $365 → $400 Maintains Neutral 01/24/2024 7.07% Morgan Stanley $369 → $400 Maintains Overweight 12/20/2023 3.05% BMO Capital $350 → $385 Maintains Market Perform 12/20/2023 -2.3% UBS $333 → $365 Maintains Neutral 12/14/2023 -3.64% Wedbush $330 → $360 Maintains Outperform 11/16/2023 9.74% Redburn Atlantic → $410 Initiates Coverage On → Buy 11/07/2023 -10.87% UBS → $333 Initiates Coverage On → Neutral 09/29/2023 -8.99% RBC Capital → $340 Reiterates Outperform → Outperform 09/29/2023 -6.32% BMO Capital $360 → $350 Maintains Market Perform 09/29/2023 -19.7% TD Cowen $312 → $300 Maintains Market Perform 09/29/2023 -13.81% Baird $332 → $322 Maintains Neutral 09/29/2023 -19.7% Piper Sandler $312 → $300 Maintains Neutral 09/27/2023 -3.64% BMO Capital $355 → $360 Maintains Market Perform 09/26/2023

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UPS Releases 4Q 2023 Earnings

/ / Industrials /

UPS Releases 4Q 2023 Earnings — Consolidated Revenues of $24.9B, Compared to $27.0B Last Year — Consolidated Operating Margin of 9.9%; Adjusted* Consolidated Operating Margin of 11.2% — Diluted EPS of $1.87; Adj. Diluted EPS of $2.47, Compared to $3.62 Last Year — Declares a Quarterly Dividend of $1.63, a $0.01 Increase Per Share ATLANTA–(BUSINESS WIRE)–January 30, 2024– UPS (NYSE:UPS) today announced fourth-quarter 2023 consolidated revenues of $24.9 billion, a 7.8% decrease from the fourth quarter of 2022. Consolidated operating profit was $2.5 billion, down 22.5% compared to the fourth quarter of 2022, and down 27.1% on an adjusted basis. Diluted earnings per share were $1.87 for the quarter; adjusted diluted earnings per share of $2.47 were 31.8% below the same period in 2022. For the fourth quarter of 2023, GAAP results include a total charge of $512 million, or $0.60 per diluted share, comprised of a non-cash, after-tax mark-to-market

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