Company Notes

We raise F2024/F2025E (Aug) EPS for Micron (MU; $78.69; E/W), after the full release of FQ1 (Nov) results and FQ2E (Feb) guidance, from ($1.60)/$3.60 to ($0.45)/$6.00 to better reflect its “extreme” supply discipline, which is…

After today’s market close, Flex (FLEX; $28.69; O/P) announced it received approval from the High Court of Singapore to complete the last stage of its divestiture of Nextracker (NXT; $47.46; E/W) through a tax-free spin…

Due to a reallocation of resources, Fox Advisors is discontinuing coverage of Tritium (DCFC – $0.20 – Last Rating: Not Rated – Price Target: NA). Effective immediately, our rating, price target, disclosures and estimates are…

The shares of Micron (MU; $81.79; E/W) are now up 20% since the company reported basically as-expected FQ4 (Aug) results on 9/27, including +12% over the past nine days, ahead of its full release of…

Jabil (JBL; $136.42; O/P) posted full FQ1 (Nov) results and guidance that not surprisingly were very consistent with its recent negative pre-announcement, per the table below (“Guide Down Highlights Silver Lining Playbook”; 11/29). Admittedly, questions…

The 29% rally in the shares of Nextracker (NXT; $42.76; E/W) over the past two months has “on paper” created more value for the shares of Flex (FLEX; $26.26; O/P) that has basically gone unrecognized…

We think a potential IPO from ZEEKR Intelligent Technology Holding can prove an incremental positive for the shares of Mobileye Global (MBLY; $40.35; E/W) in coming months, based on our review of the company’s recent…

Yesterday, Supplyframe, which has developed a Design-to-Source Intelligence (DSI) platform for the global electronics market, announced an interesting partnership with Jabil (JBL; $120.15; O/P) to better utilize artificial intelligence (AI) and automation technologies to enable…

Last night, TE Connectivity (TEL; $135.50; E/W) announced that its Board authorized a $1.5B increase in its share repurchase program. By comparison, TEL’s market cap is $43B and the company had $735mm remaining on its…

This evening after the close, we were surprised to see Lucid Group (LCID; $4.61; E/W) announce that Sherry House, is resigning from her position as CFO, effective immediately, to pursue “other opportunities”, especially after recently…

We think Jabil’s (JBL; $121.15; O/P) release of FQ1 (Nov) results and outlook on Thursday (12/14 before market) leaves little room for surprise after its negative pre-announcement. However, we see a lot for Jabil to…

ChargePoint (CHPT; $2.05; E/W) produced FQ3 (Oct) results that were consistent with our recently lowered estimates for the company’s negative pre-announcement (“Big Miss Leads to CEO & CFO Changes”; 11/17). We note consensus was relatively…

On Wednesday (11/29), Uber Technologies (UBER; $56.75; O/P) announced plans to start onboarding black cabs in London to its platform starting in “early 2024”, which further adds to a new product story for its Mobility…

We adjust F2024E (Jan) EPS for Dell Technologies (DELL; $75.87; E/W) from $6.50 to $6.68 after the company produced a solid FQ3 (Oct) EPS beat, despite lower-than-expected revenues, albeit partially offset by FQ4E (Jan) guidance…

We raise F2024/F2025E (Apr) EPS for NetApp (NTAP; $90.15; E/W) from $5.75/$6.25 to $6.18/$6.70 after a solid “beat and raise” in the face of what it still sees as a soft IT spending environment with…