April 24, 2024
TE Connectivity (TEL; $143.23; O/P) reported FQ2 (Mar) non-GAAP EPS of $1.86, which was ahead of our consensus matching $1.83 led by some slightly better than expected sales ($3,967mm vs. our $3,950mm and consensus of…
April 23, 2024
Seagate (STX; $86.49; E/W) reported FQ3 (Mar) non-GAAP EPS of $0.33, which was ahead of our $0.30 estimate and the Street’s $0.29 despite moderately lower than expected sales ($1,655mm vs. our $1,662mm and the Street’s…
April 23, 2024
The shares of Maplebear, doing business as Instacart (CART; $33.59; E/W), are down 7% today and have now retreated 14% from recent highs (vs. +43% YTD) on news that Amazon (AMZN; $179.62; NR) is offering…
April 23, 2024
Last week, we attended Data Center World in Washington DC (“More Powerful Takeaways from Data Center World”; 4/22), which added to other recent news flow that continues to support the idea that hydrogen fuel cell…
April 22, 2024
The shares of Aptiv (APTV; $69.75; O/P) are now down 22% YTD (vs. +4% for the S&P 500) as investor concerns with 2024E EPS guidance of $5.55-6.05 (+14-24% YoY) continue to mount to levels that…
April 22, 2024
We expect Mobileye Global’s (MBLY; $30.23; O/P) Q1 results and outlook, scheduled for Thursday (4/25 before market), to clear another hurdle required for a further recovery in the stock as we mapped out in our…
April 19, 2024
Last night, Jabil (JBL; $129.59) announced in an 8-K filing that CEO Kenny Wilson was placed on paid leave pending completion of “an investigation related to corporate policies”. Effective as of today (4/19), the company’s…
April 18, 2024
The risk/reward on the shares of Benchmark Electronics’ (BHE; $30.04; O/P) still looks attractive to us ahead of the company’s Q1 results and Q2E outlook in coming weeks, especially with the stock trading at only…
April 18, 2024
We continue to wonder if Amkor Technology’s (AMKR; $30.10; E/W) Q1 results and Q2E outlook, scheduled for April 29th (after market), are limited more than originally expected by a generally high exposure to still challenging…
April 17, 2024
Sanmina shares (SANM; $58.35; O/P) are -16% from 52-week highs and -10% since we launched coverage (“Still Attractively Priced EMS Play; Initiate with Outperform”; 3/5). We think this is likely on concerns that sales from…
April 15, 2024
We assume Amphenol (APH; $113.32; E/W) highlights a still “mixed bag” of end markets when it reports Q1 results and offers up Q2E guidance on April 24th (before market). However, we believe management was appropriately…
April 15, 2024
We think TE Connectivity (TEL; $142.98; O/P) can produce a solid “beat and raise” with its FQ2E (Mar) when it reports on April 24th (before market). More to the point, we think TEL is well…
April 15, 2024
The shares of Seagate (STX; $85.19; E/W) are -10% since it “only” reiterated FQ3E (Mar) sales and EPS guidance of $1.5-1.8B (+6% QoQ and -11% YoY at the mid-point) and $0.05-0.45 back on March 6th….
April 15, 2024
We reiterate our Outperform on Western Digital (WDC; $72.06) and raise our target from $80 to $85 ahead of its FQ3E (Mar) results, scheduled for April 25th (after market). We recently raised our F2024/F2025E (Jun)…
April 15, 2024
At 16.1X our slightly above consensus 2024E EPS, we see the risk/reward on the shares of Corning (GLW; $31.49; E/W) to be fairly balanced ahead of its Q1 results and guidance on Tuesday, April 30th…