Company Notes

Yesterday, Corning (GLW; $157.79; E/W) announced the launch of Gorilla Glass Ceramic 3, which the company described as the “toughest ceramic cover material that the company has ever developed. We think this announcement, which management…

This morning, Flex (FLEX; $64.12; O/P) announced it was expanding on a strategic collaboration with Advanced Micro Devices (AMD; $197.08; NR) to manufacture the complete AMD Instinct platform in the United States. Flex noted that…

We bump up our F2026/2027E (Apr) EPS for NetApp (NTAP; $99.14; E/W) from $7.90/$8.65 to $8.00/$8.80, for average annual EPS growth of 10%, after the company produced a bit of a “beat and raise” with…

We are raising our F2027E (Jan) EPS for Dell Technologies (DELL; $121.45; E/W) from $11.70 to $13.00 after its healthy “beat and raise”, led by further AI server optimism and solid operating performance in the…

We reinstate coverage on the shares of TTM Technologies (TTMI; $108.86) with an Outperform and a $135 target. We believe TTMI is positioned extremely well to capitalize on two major secular trends in the electronics…

This morning, DoorDash (DASH; $171.82; E/W) announced plans to exit Japan, Qatar, Singapore and Uzbekistan across its Deliveroo and Wolt subsidiaries, which were acquired in June of 2022 and October of 2025, respectively. DASH noted…

Yesterday, Uber Technologies (UBER; $71.30; E/W) announced an agreement to acquire, for undisclosed terms, privately held SpotHero, which adds parking reservations to the Uber app, advancing the company’s ambitions to build out a “super app”….

We think this morning’s news that Advanced Micro Devices (AMD; $211.68; NR) entered into a new, multi-year, multi-gen GPU and CPU strategic agreement with Meta Platforms (META; $635.88; NR) proves extremely bullish for Sanmina (SANM;…

This morning, Uber Technologies (UBER; $71.04; E/W) announced the launch of Uber Autonomous Solutions, which formally combines a suite of services and capabilities that management previously built out in recent years to help autonomous vehicle…

We are sticking with our 2026E EPS on Uber Technologies (UBER; $73.31; E/W) at $3.20 (+31% YoY) and initiate 2027E EPS of $3.80 (+19% YoY), which reflects our belief that the company’s Mobility business (51%…

We are making relatively modest changes to our 2026E EPS for Sensata (ST; $36.16; E/W), from $3.65 to $3.60 (+5% YoY), while initiating 2027E EPS at a very reasonable $3.85 (+7% YoY) after Q4 EPS…

Sensata (ST; $36.16; E/W) reported Q4 adjusted EPS of $0.88, which was slightly ahead of our consensus matching $0.86 on somewhat higher than expected sales ($918mm vs. our $913mm and the Street’s $912mm). Recall, the…

We expect a “mixed bag” from NetApp (NTAP; $101.68; E/W) when the company reports its FQ3 (Jan) results and guidance next Thursday (2/26 after market). On one hand, we assume NTAP can demonstrate at least…

We are raising our 2026E EBITDA for DoorDash (DASH; $183.00; E/W) from $3,450mm (2.6% of Gross Order Value or GOV) to $3,625mm (2.7% of GOV) after management provided support for the idea that its heightened…

We suggest investors take a cautious approach to the FQ4 (Jan) print from Dell Technologies (DELL; $115.95; E/W), scheduled for next Thursday (2/26 after market). Admittedly the stock is already down 8% since it last…